All articles by Alec Mattinson – Page 97
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NewsGrocery sales growth slows in April
The past 12 weeks have continued to see strong grocery sales growth of 9.1%, according to Kantar, but sales growth slowed down in the past four weeks.
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NewsMedia Bites 27 April: Sainsbury’s, John Lewis Partnership, Poundstretcher
Sainsbury’s risks a backlash as its board weighs whether to approve a £247m, John Lewis mulls bringing in an outside investor to help to finance and launch a joint venture and Poundstretcher kicks off a review of its finances.
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NewsUnilever sees 2020 sales growth clobbered by coronavirus
The consumer giant’s sales growth for the first three months of the year fell back to zero
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NewsPremier Foods shares rise on ‘elegant’ pensions restructure and coronavirus sales boost
The Mr Kipling producer revealed the results of its year-long strategic review on Monday…
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NewsFood & drink deal activity down 15% as coronavirus hits market
Forty-four transactions involving UK companies were recorded in the first three months of 2020, down from 52 in the same p…
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NewsBooming food sales drive Co-op annual profits jump
The Co-op has posted a 50% hike in underlying profits, driven by strong growth in its grocery business
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Analysis & FeaturesAre supermarkets doing enough to keep the prices of groceries down?
Amid soaring demand, supermarkets have been careful not to increase prices, but with promos axed to stabilise supply the effect is inflationary
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NewsMedia Bites 24 April: Unilever, Just Eat Takeaway, Pret
A slump in ice cream sales has prompted Unilever to scrap its growth targets for the year, despite the pandemic bringing people flocking to its trusted hygiene and food brands.
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NewsUnilever sales fall flat amid ‘unprecedented impact’ of Coronavirus outbreak
Unilever’s underlying sales growth was flat in the first quarter amid a significant hit to its emerging markets business and sales of ice cream due to the coronavirus outbreak.
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NewsMedia Bites 22 April: John Lewis/Waitrose, Coca-Cola, ABF/Primark
The former bosses of John Lewis and Waitrose are being given payoffs of almost £1m each despite store closures and the furloughing of 14,000 staff.
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NewsABF takes £284m coronavirus stock writedown but grocery shows strong profit growth
Associated British Foods has posted a significant fall in first half profits as it was forced to take a £284m writedown on Primark stock, but the rest of its business continues to perform despite the pandemic. Plus, Danone shows solid Q1 growth but withdraws full year guidance and all the rest of the latest news from the City.
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NewsMedia Bites 20 April: Supermarkets/clothing, Government loans, Pret
Asda is cancelling orders and reneging on full payments to clothing suppliers, despite enjoying record food sales and a taxpayer windfall
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NewsCity news: AB InBev slashes dividend to help tackle debt pile
The world’s largest brewer AB InBev slashed its dividend this week to help cope with the effects of the coronavirus and the pressures of its debt pile.
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NewsGovernment considers calls to underwrite trade credit insurance
The government is considering requests from food and drink leaders and the wider insurance industry to underwrite trade credit insurance
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NewsMedia Bites 17 April: Carluccio’s, Government lending, Food price inflation
Supermarket chain Tesco and 2 Sisters owner Boparan are among those that have expressed an interest in Carluccio’s sites
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NewsCity snapshot: UK retail sales plummet as coronavirus crisis unfolds
UK retail sales have plunged sharply in March as the coronavirus crisis and resulting nationwide lockdown led to the worst drop on record. Plus, PZ Cussons warns of “significant” coronavirus impact as crisis boosts soap and hand wash sales but hits beauty division and all the rest of the latest news from the City.
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NewsCity snapshot: Carr’s Group reports ‘resilient performance’ with no material coronavirus impact
Agriculture and engineering group Carr’s (CARR) has reported a ‘resilient performance’ in the first half of its financial year and reassured the market the current coronavirus crisis has not had a material impact on its trading.
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NewsMedia Bites 14 April: Supermarkets/coronavirus, Government loans, Amazon
Supermarket chains suffer a sharp fall in sales over the past fortnight, government emergency aid to be retooled, Amazon on hiring spree.
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NewsRatings agency Fitch downgrades M&S to junk status
Global ratings agency Fitch has downgraded Marks & Spencer’s long-term credit rating to junk status as the coronavirus lockdown exacerbates “historical operating weakness”
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NewsInvestors heed WH Smith’s emergency cash call
WH Smith was forced to go cap in hand to its shareholders this week to raise emergency cash amid dire warnings over the impact coronavirus was having on current trading.