All articles by Alec Mattinson – Page 77
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NewsMedia Bites 17 March: Greggs, Visa, Ocado
Greggs is pushing ahead with ambitious plans to open 100 new shops this year despite falling to its first loss in 37 years as a public company
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NewsCity snapshot: Greggs falls to first loss as store closures drive 36% sales drop
Bakery and food to go chain Greggs has reported its first loss since it floated in 1984 as the coronavirus and resultant store closures hammered sales. Plus, Bakkavor sales drop in UK convenience sector falls, C&C Group sells US cider brand and all the rest of the latest news from the City.
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NewsMedia Bites 15 March: Danone, Pret/Tesco, High Street closures
Danone’s board of directors has decided to replace Emmanuel Faber as both chief executive and chairman, blowing up a two-week-old compromise
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NewsDeliveroo loss during favourable conditions raises City eyebrows
The UK-based online meal delivery giant said on Monday that surging demand for takeaways during 2020 had helped Deliveroo narrow losses
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NewsCity snapshot: Property giant Hammerson posts £1.7bn loss amid coronavirus slump
The UK’s biggest shopping centre owner Hammerson has posted a £1.7bn annual loss as the coronavirus pandemic has slashed the value of its portfolio and rental income plummeted.
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NewsMedia 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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NewsMorrisons’ 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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NewsMedia 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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NewsSupermarket 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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NewsMedia 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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NewsCity 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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NewsMedia 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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NewsCity 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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NewsOrchard 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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NewsMedia 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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NewsEmmanuel 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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NewsCity 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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NewsMedia 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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NewsCity 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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NewsCity 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.