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All articles by Alec Mattinson – Page 85
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NewsCity snapshot: M&S plunges to £88m first half loss despite ‘strong’ food performance
M&S has fallen to a pre-tax loss of £87.6m in the first half, the group’s first loss in its near century as a public company, as a COVID-driven sales plunge in general merchandise negated ‘strong’ performance in its food division.
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NewsMedia Bites 4 Nov: Supermarkets/business rates, Iceland, Deliveroo
Supermarkets are under mounting pressure to pay back £3bn in business rates after a leading retail entrepreneur questioned why their bills had been waived
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NewsCity snapshot: Primark closures drive ABF sales and profits plunge despite grocery growth
Associated British Foods has posted a double-digit drop in annual sales and profits as the strong performance of its grocery businesses was unable to fully mitigate the closure of its Primark stores during lockdown.
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NewsNestlé acquires $950m US meal delivery business Freshly
The world’s biggest food group Nestlé has bolstered its DTC credentials with the $950m acquisition of US meal delivery service Freshly
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NewsMedia Bites 2 Nov: Retail/lockdown, Sainsbury’s, Brexit food standards
Swathes of customers have raced to bulk-buy household essentials ahead of a second national lockdown
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NewsUK petfood M&A boom continues with two more premium deals
The flurry of petfood dealmaking continued this week, with the completion of a further two acquisitions of premium UK-based petfood players.
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NewsMinority investments drive start of UK food & drink M&A recovery
Minority investments in fast-growing brands helped lead to an uptick in UK food and drink M&A activity in the third quarter, though the impact of the coronavirus continues to weigh on deal volumes
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NewsCity snapshot: Lower Covid costs boost profits at Groupe Casino
French grocery giant Groupe Casino has posted a rise in sales and earnings in the third quarter as strong performance in Latin American was helped by improved profitability in France as Covid costs reduced. Plus, losses as Tasty mount, Carrefour sells payments arm for €300m and the rest of the latest news from the City.
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NewsMedia Bites 30 Oct: Business rates, AB InBev, Amazon
The bosses of three of Britain’s biggest supermarket chains have urged Rishi Sunak to use an overhaul of the business rates system to “level up” the economy
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NewsCity Snapshot: Glanbia 2020 sales edge up despite performance nutrition weakness
Glanbia has posted a ‘resilient’ performance so far in 2020 as a sharp drop in sales at its performance nutrition division was mitigated by growth in its nutritionals business. Plus Hilton Food Gropu benefits from COVID, Supermarket Income REIT buys Sainsbury’s supermarket and all the rest of the latest news from the City.
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NewsConsumer insight specialist Streetbees raises $40m to boost ‘human AI’ capabilities
Consumer insight firm Streetbees has today closed a US$40m funding round to accelerate the development of its ‘human intelligence platform’.
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NewsMedia Bites 28 Oct: Retail sales, Unilever, Hut Group
Retail sales fell in October as the second wave shut down demand for clothes shops and department stores
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NewsCity snapshot: Revolution Bars files for CVA to close sites as coronavirus savages revenues
Revolution Bars has launched a company voluntary arrangement to close a number of bars and reduce rents after its revenues have collapsed due the coronavirus
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NewsSkinner’s buys majority stake in wet dogfood player Naturediet
Dry dogfood specialist Skinner’s has bought a majority stake in branded natural wet dogfood producer Naturediet
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NewsSpectrum Brands agrees £140m deal for Good Boy producer Armitage Pet Care
The Grocer revealed in September that Rutland had tasked PwC with handling a sales process for Armitage
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Analysis & FeaturesThe true cost of upheaval: the OC&C Top 150 Supplier Index 2020 report
Suppliers are counting their costs as coronavirus, recession and Brexit are offset against one another
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NewsMedia Bites 26 Oct: Brexit/supermarkets, CCEP, Asda/EG Group
An eleventh-hour Brexit trade deal could still throw Britain’s biggest grocers into chaos by leaving them with just a few weeks to understand the rules
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NewsGlobal fmcg giants RB, P&G, Nestlé and Unilever report strong results
Recent earnings releases show 2020 is proving to be a good year for global fmcg giants
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NewsTop 150 UK suppliers see sales top £70bn
The OC&C Top 150 report of the UK’s biggest food and drink producers found total aggregate revenues rose by 1.9% in 2019 to a collective £70.3bn
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NewsMedia Bites 22 Oct: EG Group, Waitrose/Co-op, Nestlé
The new owners of Asda are looking for a chairman and directors for their petrol station empire as they gear up for a £10 billion stock market listing