All articles by Alec Mattinson – Page 88
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NewsSoaring food sales boost Co-op first half performance
Total revenues in the 26 weeks to 4 July were up 7.6% to £5.8bn driven by the strong performance of its food and wholesale arms
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NewsHalo Foods bought by US PE firm Peak Rock Capital
The Welsh cereal bar manufacturer has been bought by the US private equity investor after a successful turnaround since being sold by Finnish food group Raisio
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NewsCity Snapshot: John Lewis Partnership scraps staff bonus as it suffers £635m loss
The John Lewis Partnership has scrapped its annual staff bonus as it suffered a first half loss of £635m amid restructuring costs and heavy writedowns of its John Lewis store estate. Plus, grocery sales boom at Co-op, update from Hilton Food Group and all the rest of the latest news from the City.
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NewsMedia Bites 17 Sep: Hut Group, Waitrose/John Lewis, Inflation
Shares in Hut Group have jumped in value by a quarter at the start of trading on their first day on the stock market
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NewsCoronavirus outbreak hits first half sales at Science in Sport
Sports nutrition group Science in Sport posted a drop in first half sales and an underlying operating loss given the “severe disruption” to its business caused by the COVID 19 pandemic
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NewsGrocery sales growth slows in August
Fewer meals eaten at home due to the popularity of the Eat Out to Help Out scheme meant consumers spent £155m less in supermarkets
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NewsCity Snapshot: Eat Out to Help Out scheme drives inflation to five year low
UK inflation has fallen to its lowest level since 2015 as the Eat Out to Help Out Scheme helped drive down prices. Plus, The Hut Group’s shares surge on market debut, updates from Science in Sport and Eagle Eye Solutions and all the rest of the latest news from the City.
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NewsMedia Bites 16 Sep: Ocado, Kraft Heinz, Grocery market share
Ocado has moved to within 10% of the stock market valuation of Tesco after a share price surge linked to the online specialist’s new tie-up with Marks & Spencer
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NewsCity snapshot: Ocado sales surge by 52% ahead of M&S switch
Ocado’s retail revenues soared by 52% in the 13 weeks to August due to sharply rising demand for online groceries - plus, growth slows in August as more meals are eaten out according to the latest grocery market share figures.
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NewsMedia Bites 15 Sep: Aldi, Retail footfall, Domino’s Pizza
Aldi is to run trials of a click-and-collect grocery service in Britain as it looks to expand its online offering
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NewsCity Snapshot: Waitrose and Nestlé eye deal for Mindful Chef
Waitrose and Nestlé are reported to be amongst the suitors vying to buy farm-to-fork recipe box brand Mindful Chef
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NewsMedia Bites 14 Sep: Hovis, Ocado/Waitrose/John Lewis, Mindful Chef
A pack of turnaround investors, private equity funds and food groups are vying to snap up Hovis
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NewsCity News: Morrisons shows surge in demand is double-edged sword
The retailer on Thursday revealed a jump in first-half sales could not mitigate the extra costs caused by the coronavirus
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NewsTesco price-cutting drive shifts it into annual deflation
Tesco’s drive to cut prices in the post-lockdown market has seen it move back into annual price deflation for the first time in almost a year
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NewsPetfood sales flurry expected with deals for brands on table
A further raft of UK petfood brands are set to come to market by the end of the year as the M&A market begins to thaw in the aftermath of lockdown.
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NewsCity snapshot: UK petfood M&A flurry expected with three auctions set to launch
A further raft of UK petfood brands are set to come to market by the end of the year as the M&A market begins to thaw in the aftermath of lockdown.
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NewsMedia Bites 11 Sep: The Hut Group, Morrisons, Cafe Nero
London’s biggest stock market listing in three years has moved closer after The Hut Group set the value of its shares at £5.4bn
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NewsCity snapshot: Morrisons profits dented by extra coronavirus costs
Morrisons has reported a surge in first half sales, but a double-digit fall in profitability as the extra costs of operating through the coronavirus crisis hit its bottom line.
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NewsBakkavor first half sales drop in ‘challenging’ market
Ready meals maker and fresh foods producer Bakkavor saw a 4.6% fall in first half revenues as Covid-19 had a “significant impact” on performance.
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NewsUK retail sales continue to recover but city centres remain ‘devastated’
Retail sales continued to recover in August, but remain well down on an annual basis as the country recovers from lockdown.