All articles by Elena Cherubini – Page 22
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NewsMedia Bites 4 Oct: John Lewis, PAI/Hain Daniels, Tomatoes
John Lews is seeking rent cuts from its landlords in a bid to cut running costs. The retailer told landlords in some locations it would withhold 20% of this quarter’s service charge, which covers heating and water on top of rent, because it had become too expensive. ...
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NewsPepsiCo’s third quarter revenues rise as it ramps up marketing
PepsiCo has reported a 4.3% increase in third quarter revenues, as ramped-up marketing spend boosted demand for its soft drinks and snacks
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NewsCity snapshot: Imperial Brands CEO to step down
Alison Cooper, who has been at the helm of the tobacco giant for nine years, will step down as soon as a suitable successor is found
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NewsMedia Bites 3 Oct: Deliveroo, Tesco, Tariffs
Deliveroo has seen revenues jump 72% in 2018 but losses widened 17% to £232m as the ride haling app invested into new markets and competitiveness in challenging areas. Revenues came in at £476m but operating expenses surged to £349.4m from £106m the previous year (The Financial Times ...
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NewsBIB Wine seeks funding to open bag-in-box bar and shop
The startup is about to launch a crowdfunding campaign looking to raise £467k to open its first bag-in-box bar and shop
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NewsWhitworths sales continue to slide but operational losses improve
The business is now focused on shifting from being an ingredients-focused company to a healthy snacking firm
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NewsCity snapshot: Tesco CEO Dave Lewis to step down
“I believe that the tenure of the CEO should be a finite one and that now is the right time to pass the baton,” he said.
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NewsMedia Bites 2 Oct: M&S, John Lewis, Greggs
Source: Marks & Spencer Steve Rowe warned that Marks & Spencer’s turnaround is 18 months behind schedule At a meeting with analysts and investors, Marks & Spencer’s CEO Steve Rowe has admitted that the retailer’s turnaround plan for its clothing and home lines is 18 months behind ...
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NewsInnocent sales rocket amid European expansion
Innocent has posted further revenue growth last year, with sales rocketing to nearly £400m as health-conscious consumers flocked to buy its smoothies
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NewsCity snapshot: Greggs outlook unchanged as third quarter sales rise
Greggs posted another quarter of sales increase, while analysts predict Tesco’s interim sales to flatline amid strong comparatives and Brexit uncertainty
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NewsMedia Bites 1 Oct: Jamie Oliver, Waitrose, Red meat
Celebrity chef Jamie Oliver has received a £5.2m dividend payout from its restaurant chain despite falling profits and the collapse into administration of its UK arm. Across the wider Jamie’s Italian group, profits were down to £8m in 2018 from £14.7m due to costs associated with the ...
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NewsJam and chutney maker Rogue seeks £150k for national expansion
Rogue has already gained listings in Sainsbury’s and Ocado
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NewsDr Oetker snaps up specialist baking business Cake Craft World
The acquisition was completed for an undisclosed amount
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NewsThe Saucy Affair turns to the crowd for full brand relaunch
The fresh sauce startup is looking to raise £350k to fully relaunch the brand with a new name and look
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NewsCity snapshot: Farmdrop promotes CFO Herrin to CEO to deliver on ‘huge opportunities’
Local farm-to-consumer food delivery service Farmdrop has promoted CFO Eleanor Herrin to the role of chief executive officer. Plus, a look ahead to the rest of the week’s events and all the rest of latest news from the City
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NewsMedia Bites 30 Sep: Sainsbury’s, Poundland/Pepco, Tesco
Sainsbury’s has warned suppliers that they will be left to face the bill in the case of higher no-deal tariff costs.
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NewsBirds Eye UK sees second year of sales growth but profits tighten
The frozen food manufacturer posted revenues up 5.9% to £431m for the year ending 31 December 2018
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NewsCity snapshot: Müller posts further significant UK losses in face of ‘broken’ market
Müller’s UK & Ireland business has slumped to another significant annual operating loss, on the back of challenging conditions in the liquid milk category.
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NewsMedia Bites 27 Sep: Vaping crackdown, Kraft Heinz/Mondelez, Shop Closures
The US crackdown on vaping has wiped £7bn off the share price of The UK’s tobacco giants as panicked traders rushed to a sell-off the sector.
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NewsBurts Snacks sales jump 50% following popcorn acquisition and organic growth
Burts annual sales jumped in 2018 but the company swung to a pre-tax loss of £608k due to rising costs