All articles by Ed Devlin – Page 59
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NewsCity Snapshot: Deliveroo reveals widening losses as Next boss Simon Wolfson steps down from board
Deliveroo has this morning revealed widening losses, slowing growth and the loss of Next boss Simon Wolfson from its board. Plus, Q2 results from Dutch supermarket group Ahold Delhaize.
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NewsMedia Bites 9 August: Retail sales, olive oil, WH Smith
UK consumer spending defied talk of recession in July, data from industry bodies showed on Tuesday.
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NewsGreen Cola and Chitos form new UK-headquartered better-for-you drinks group
Greek beverage businesses Green Cola and Chitos have partnered to create a UK-headquartered drinks group to pursue ambitious international growth plans.
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NewsKatKin raises £18m for its fresh-cooked cat food concept
Founded by brother-and-sister team Brett and Nikki O’Farrell in 2019, the brand steam cooks 100% human-grade meat, with no fillers, grains or preservatives, which is then frozen before being sent out to customers.
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NewsCity Snapshot: WH Smith de-risks pension fund
WH Smith has announced a move to safeguard its pension fund from future risks with the purchase of a bulk annuity insurance policy.
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NewsKellogg’s raises full-year forecasts on better-than-expected first-half performance
Kellogg’s has lifted its full-year sales and profits outlook as strong growth of its global snack brands and a faster-than-expected recovery in cereals combined with higher prices in the first half to deliver a better-than-expected performance.
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NewsBeyond Meat to axe 4% of global workforce as losses balloon and sales forecasts are cut back
Beyond Meat has lowered its sales expectations for the year, posted a wider than expected loss for the second quarter and revealed plans to cut 4% of its global workforce
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NewsWype lines up seed funding round to scale wet wipe alternative brand
Sustainable personal care challenger Wype has secured pre-seed financing ahead of a bigger round later this year to help bring its wet-wipe-in-a-bottle innovation to supermarket shelves.
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NewsMedia Bites 5 August: Bank of England, Diageo, Amazon, Next
The papers go big on the latest interest rates decision by the Bank of England and the sober warnings of a protracted recession to come.
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NewsMPM Products sales soar to close to £100m amid pet ownership boom
A boom in pet ownership during the pandemic has helped premium petfood maker MPM Products increase sales to almost £100m in its first year under new PE ownership
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NewsMedia Bites 4 August: Inflation, Just Eat Takeaway, Unilever, M&S
Inflation could reach 15% early next year, a leading think tank has warned, as soaring gas prices deepen the cost of living crisis.
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NewsCity Snapshot: Just Eat Takeaway falls €3.5bn into the red but confident of path towards profitability
Just Eat Takeaway has sunk to a €3.5bn loss in the first half after writing down the value of its embattled Grubhub service in the US, but the food delivery firm said it was making “significant progress” towards profitability.
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NewsOatly shares sour as plant-based group slashes growth expectations
Oatly shares have slumped to a new low as losses widened further and the oat milk giant downgraded sales expectations
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NewsMedia Bites 2 August: Ukraine grain, Heineken, Cranswick
A grain shipment leaving the port of Odesa for the first time in months makes headlines this morning, as does the latest Heineken results and the rising cost of pork.
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NewsLab grown palm oil alternative step closer as Clean Food Group secures seed financing
It is hoped the lab-grown, cellular-based alternative could help reduce the detrimental environmental impact of palm oil production
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NewsCity Snapshot: Heineken fails to scare off drinkers as sales and profits soar despite higher prices
Sales and profits at Heineken have grown in the high double digits as consumers drank more beer despite prices rising. Plus, a Q1 update from Cranswick and the latest investment from Agronomics.
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NewsP&G warns of $3.3bn hit in year ahead from rising costs as price hikes help sales growth
Price rises pushed through by Procter & Gamble have helped increase sales at the US consumer products group, but it warned of another year of “significant” headwinds ahead.
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NewsCo-op job losses plan linked to £47m spending cut
The Grocer has seen a communication from CEO Shirine Khoury-Haq to staff that provides more clarity on the move
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NewsMedia Bites 29 July: Diageo, Nestlé, Amazon
Results from Diageo, Nestlé and Amazon make headlines this morning.
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NewsYorkshire Tea growth pushes Bettys & Taylors sales past £250m but rising costs hit profits
Elevated demand for Yorkshire Tea and Taylors of Harrogate has pushed revenues at owner Bettys & Taylors Group above a quarter of a billion pounds for the first time, but rising costs dented profits.