All articles by Alec Mattinson – Page 93
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NewsMedia Bites: ABF/Primark, Supermarket profits, M&S
Coronavirus lockdowns have cost Associated British Foods £800m, with clothing retailer Primark expecting profits to tumble by two-thirds this financial year.
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NewsVibrant Foods snaps up Cofresh Snack Foods to bolster mainstream push
Exponent-backed Vibrant Foods closed the deal for the Leicester-based bagged snacks group this week for an undisclosed sum
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NewsCity snapshot: European Commission objections delay UK trade credit rescue package
The government’s multibillion-pound trade credit insurance rescue package is being delayed by EU state aid rules, causing a cash flow crisis for food and drink wholesalers. Plus, trading updates from ABF, DS Smith, Mitchells & Butlers and Total Produce, and the rest of the latest news from the City.
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NewsTrade credit insurance rescue package delayed by EU state aid rules
Hospitality restart threatened by EU’s delay to government trade credit insurance scheme
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NewsMedia Bites 1 July: Deliveroo/Lloyds Pharmacy, Retail admins, UK economy
Plasters and paracetamol will be delivered to households within 30 minutes of being ordered in a tie-up between Lloyds Pharmacy and Deliveroo.
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NewsCoty buys into $1bn Kim Kardiashian West beauty empire
US consumer group Coty has bought a stake in the cosmetics company of Kim Kardiashian West, valuing the business at US$1bn.
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NewsMedia Bites 29 June: Supermarket exec pay, Intu, Farmdrop
Tesco suffered one of the biggest ever shareholder revolts over executive pay, casting a shadow over a strong sales performance during the coronavirus lockdown
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NewsFood price inflation hits its highest level since June 2012
The highest food price inflation for eight years helped drive sales growth in the UK grocery industry back up again last month, data shows.
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NewsShopping centre giant Intu falls into administration
The owner of the Trafford Centre and Lakeside shopping centres has filed for administration after being unable to reach a refinancing deal with its lenders.
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NewsTesco investors vote down exec pay policy that gave CEO £6.4m package
Tesco shareholders have voted against its executive pay policies that saw the supermarket give CEO Dave Lewis a £6.4m pay package
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NewsCity snapshot: Online sales surge boosts Tesco’s first quarter
Tesco has reported first-quarter UK like for like sales growth of 8.7%, including a forecast £2bn rise in online sales which have nearly doubled since the COVID crisis began.
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NewsPremier Foods shares surge to six-year high on strong branded growth
Premier Foods shares jumped to a six-year high this week, as the surge in sales during lockdown looks set to drive its performance this year beyond City expectations.
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NewsCity snapshot: Young’s taps investors for £88m ahead of pub reopenings
Pub group Young’s has raised over £88m from its investors via a share placing to boost its balance sheet ahead of the reopening of its pub estate and “pursue opportunistic acquisitions”. Plus trading updates from Science in Sport, Gusbourne and all the rest of the latest news from the City.
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NewsPremier Foods sales and profits rise in year of ‘considerable progress’
Premier Foods’ annual sales and trading profits rose last year after strong trading during the coronavirus crisis built on ‘substantial progress’ during the period.
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NewsExponent launches Vibrant Foods to consolidate Asian and healthy brands
Private equity player Exponent has created a new venture to consolidate brands in the Asian and free-from markets.
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NewsMedia Bites 18 June: Card fees, UK inflation, UK/EU trade
Supermarkets are in line for a cash injection worth “billions” after winning a long-running legal battle against MasterCard and Visa over swipe fees.
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NewsDomino’s Pizza UK sales boosted by lockdown but bottom line suffers
Domino’s Pizza Group has reported a rise in first half sales, driven by “rapid” growth in its UK delivery business during the coronavirus lockdown period.
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NewsSupermarket promotions pick up further but still not at pre-Covid levels
Promotions are still down 35% at Tesco, 28% at Ocado, 23% at Asda, 14% at Sainsbury’s and 12% at Morrisons
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NewsMedia Bites 15 June: Retail reopening, UK economy, US trade deal
High Street chains were braced this morning for the reopening of stores as they tempt shoppers back, with the City watching for signs that consumers are not afraid to head out.
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NewsCity News: Premier Foods shares boosted by news of possible Hovis sale
The bread brand’s 51% owner Gores Group has reportedly hired banker Baird to find a buyer for Hovis