All articles by Ed Devlin – Page 91
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NewsMedia Bites 10 May: Asda, Gousto, Tesco
Asda is to deliver groceries to customers when they are not at home in a major escalation of the supermarkets arms race for online shoppers.
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NewsCity Snapshot: Greggs profits from easing of lockdown as sales surge
Profits at Greggs look set to return to pre-Covid levels quicker than expected after sales at the bakery chain surged as shoppers flocked back to the high street in April. Plus, a trading update from Hotel Chocolat reveals a strong performance.
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NewsPlenish set for major retail push following acquisition by Britvic
Plant-based drinks maker Plenish is set to take on Alpro and Oatly as part of a major retail push by new owner Britvic following its acquisition this week.
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NewsCity Snapshot: Kitwave unveils £105m IPO on London’s junior market
Wholesaler Kitwave has announced it will join the London Stock Exchange in a move valuing the company at £105m. Plus, shoppers return to the high street as Covid restrictions eased and non-essential stores reopened, according to latest footfall data.
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NewsMedia Bites 7 May: Sainsbury’s, AB InBev, Beyond Meat
Sainsbury’s has hired the former boss of John Lewis Paula Nickolds to take charge of its £7.8bn clothing and general merchandise arm.
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Comment & OpinionWhy Britvic is better late than never in plant-based thanks to Plenish deal
Britvic may be trailing behind Coca-Cola and PepsiCo in the plant-based trend, but snapping up a startup could prove a wise move
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NewsBanquist secures £1.6m to grow its Michelin star recipe kit service
Launched in May 2020 during the height of the UK’s first coronavirus lockdown, Banquist generated £1m turnover in its first six months as consumer demand for recipe kits soared.
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NewsMedia Bites 6 May: Pepco, Asda, Co-op
The former boss of Asda will make up to £9.2m selling shares in the upcoming Warsaw stock market listing of Pepco, the owner of Poundland.
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NewsSerious Pig smashes crowdfunding target as it eyes further growth
Premium snacks brand Serious Pig, which is backed by BrewDog’s James Watt, has smashed a £350,000 crowdfunding target to help accelerate growth, expand the product range and bolster its sustainability credentials.
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NewsLyre’s worth more than £100m as it raises extra funding for growth
The business plans to use the new funds to boost its presence overseas from 43 countries currently to 60 by the end of the year, as well as investing in its manufacturing capabilities in the UK, Europe and the US, and helping to prepare for the reopening of the global hospitality sector as restrictions ease.
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NewsCity snapshot: Online demand slows as shoppers return to supermarkets
Supermarket customers shopped less online and more in store in April following the latest easing of coronavirus restrictions, new figures showed this morning. Plus, Pepco values itself at up to €5.8bn in upcoming Warsaw IPO; shares in McBride collapse on warnings or soaring raw material costs; and Raisio sales and profits fall in Q1 as it laps 2020 panic buying.
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NewsBritvic snaps up Plenish as it bets on plant power to fuel growth
Britvic has strengthened its presence in the fast-growing plant-based nutrition category with the acquisition of Plenish for an undisclosed sum
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NewsMedia Bites 4 May: Ocado, Starbucks, Asahi
Ocado faces a shareholder backlash over “excessive” pay, including boss Tim Steiner’s near-£7m windfall.
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NewsLaila’s posts further losses amid pandemic scratch cooking boom
Laila’s Fine Foods ‘reliant on creditors’ as it forecast it would be lossmaking for the third year in a row
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NewsMedia Bites 29 April: Sainsbury’s, WH Smith, Nestle, Reckitt Benckiser
A busy morning for food and drink in the papers, with Sainsbury’s annual results in focus.
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NewsSupermarket price war drives down food prices for first time since 2017
Food prices have fallen for the first time in more than four years as supermarkets continued to slug it out in a bid to win shoppers, according to the latest figure from the British Retail Consortium and NielsenIQ.
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NewsMondelez sees sweet sales rise as shoppers continue to stock up on Cadbury and Oreo
Mondelez net revenues in the first quarter of 2021 jumped 7.9% to $7.2bn, with shoppers in Europe and Asia buying more of its brands, including the likes of Oreo, Belvita, Milka and Toblerone.
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NewsThe British Snack Co hits crowdfunding target as it prepares for lockdown easing
The company turned to the crowd to raise money to continue growing the sales channels, win new customers and prepare for the reopening of pubs, bars and cafes as lockdown eases.
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NewsSainsbury’s slumps to a loss despite surging revenues amid pandemic
Underlying pre-tax profits at the group slumped 39% to £356m in the year ended 6 March 2021, despite a 7.3% jump in retail sales to £28.8bn
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NewsCity snapshot: Sainsbury’s slumps to a loss despite surging revenues
Sainsbury’s has plunged into the red after £485m of Covid-related costs and £600m-plus of restructuring charges for its Argos transformation programme more than offset a surge in revenues over the past year. Plus, on a busy morning, trading updates from Reckitt Benckiser, Carlsberg and Nichols; Deliveroo appoints two non-execs; and the latest shop prices index from the BRC and Nielsen.