All articles by Alec Mattinson – Page 74
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Media Bites 12 March: Morrisons, JLP, EU trade
Morrisons said it expected profitability to recover this year, despite profits halving due to the costs of the pandemic
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Morrisons’ profits slump amid £290m of COVID costs
Morrisons has reported an 8.6% rise in annual sales and “strong momemtum” depsite a profits slump due to COVID costs, while John Lewis Partnership posts a £517m loss amid restructuring costs and writedowns.
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Media Bites 10 March: Petfood shortage, Anti obesity measures, Marks & Spencer
The rising ownership of cats and dogs during the lockdown has led to a run on pet food and warnings of a nationwide shortage of supplies
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Supermarket sales growth remains at its highest level since June 2020
UK supermarkets are continuing to see the highest industry sales growth since the summer of 2020 as booming online sales mitigated a small drop in physical stores.
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Media Bites 8 March: Food imports, Asda, Deliveroo
Ministers are preparing to relax post-Brexit plans for border checks on food and other imports from the EU over fears of supermarket shortages
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City Snapshot: Record online sales mitigate in-store like-for-like sales slide in February
Shuttered high street shops contributed to a 3.1% decline in total like-for-like sales in February but fashion and homeware helped drive online sales to a record high.
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Media Bites 5 March: Deliveroo, Whisky, Amazon Fresh
Deliveroo has pressed the start button on a listing on the London Stock Exchange that is expected to value the loss-making food delivery business at more than $7bn
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City snapshot: B&M hikes profits expectations after strong lockdown sales
The owner of B&M Bargains has hiked its full year profit expectations after sales continued to boom during the second lockdown period this year. Plus, Marston’s asks bondholders to relax financial covenants, Wynnstay acquisitions, Supermarket Income REIT raises more cash to buy supermarkets and all the rest of the latest news from the City
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Orchard House brings in former Premier Foods boss Gavin Darby
The fruit and juice supplier has bought in Gavin Darby following its acquisition by private equity investor Elaghmore
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Media Bites 3 March: Budget/Furlough, Grocery share, Virgin Wines
Rishi Sunak will announce on Wednesday that the Treasury is extending its furlough scheme until the end of September in an attempt to safeguard jobs as a fragile economy emerges from the Covid-19 emergency
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Emmanuel Faber agrees to step down as Danone CEO
French dairy giant agrees to split chairman and CEO role, meaning it will search for a new chief exec following shareholder pressure
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City snapshot: Grocery sales growth hits eight month high in February
Grocery industry sales growth accelerated to its highest level since June 2020 during February as the latest national restrictions curtailed spending in cafés, restaurants and pubs. Plus trading updates from Hotel Chocolat, HelloFresh and Virgin Wines starts trading on the stock exchange.
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Media Bites 1 March: High Street/Budget, John Lewis/Waitrose, Danone
Chancellor Rishi Sunak is set to announce a £5bn grant scheme to help High Street businesses hit hardest by the pandemic
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City News: Investors wary despite record growth for Reckitt Benckiser
Consumer health giant Reckitt Benckiser posted the highest annual revenue growth in its history this week, but its share price failed to respond
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City Snapshot: Ontario Teachers explores £360m Burton’s Biscuits sale
Jammie Dodgers and Wagon Wheels maker Burton’s Biscuits is being put up for sale. Plus, Pets at Home raises profit forecast and all the rest of the latest news from the City.
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Media Bites 26 Feb: Asda, DS Smith/Mondi, ABF/Primark
About 5,000 jobs are at risk at Asda after the supermarket group launched a big restructuring in response to the rapid rise of online shopping
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City Snapshot: Primark drags back grocery and sugar progress at ABF
Associated British Foods said its grocery, sugar and agriculture businesses will be “materially ahead of expectations” for its first half, but Primark’s coronavirus-drive weakness will reduce overall sales and profits. Elsewhere, Biffa buys food waste retailer Company Shop, Virgin Wines reveals £110m listing details and AB InBev grows fourth quarter sales.
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Media Bites 24 Feb: Oatly, SimplyCook, Exports
Swedish non-dairy milk maker Oatly is set to go public with a New York listing that could value it at up to $10bn
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Greencore commits to fully recyclable packaging by 2025
Sandwich giant Greencore will commit to producing only recyclable or reusable packaging by 2025 as part of a wider sustainability drive presented to investors and analysts later today.
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City Snapshot: McBride boosted by cleaning products demand spike
Household goods manufacturer McBride has seen an uplift in sales and profits in the second half of the year as the coronavirus outbreak continues to boost the sale of cleaning products