Finance news – Page 103
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NewsCity snapshot: Inflation drives July retail sales growth, but volumes fall
UK retail sales increased 2.3% in July on a total basis, according to the BRC-KPM Retail Sales Monitor, though sharply rising prices masked a drop in sales volumes. Plus acquisitions from Coca-Cola HBC and Supreme and Barclaycard spending data.
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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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NewsLion sells Magic Rock and Fourpure to Odyssey Inns
Lion Little World Beverages has sold its UK operations, including its Magic Rock and Fourpure beer brands, to newly launched venture Odyssey Inns
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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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NewsMedia Bites: Retail sustainability, Amazon, Pets at Home
Household names from Tesco to Ocado are failing to give enough information about how they will survive in a ‘greener’ economy, according to data
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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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NewsCity News: Greggs reassures market after it raises prices
The threat of soaring inflation and its effects on consumer spending have weighed on Greggs shares all year, but the chain reassured the market this week that price hikes were not putting customers off their sausage rolls
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NewsHovis profits drop as rising costs hit margins
Wrapped bakery stalwart Hovis experienced a sharp drop in profitability last year as soaring costs hit margins despite maintaining its Covid sales gains
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NewsCCEP signposts further price rises but stresses focus on affordability
Great Britain Coke bottler Coca-Cola Europacific Partners has indicated it will push through further price rises to mitigate soaring inflation, but insisted it remains focussed on ensuring its products remain affordable
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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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NewsCity snapshot: Pets at Home posts solid third quarter growth
Pets at Home has posted a like for like sales uplift of 6% in its third quarter on strong store and online retail growth. Plus UK footfall drops on hot weather, new CEO at Carr’s Group and all the rest of the latest news from the City
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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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NewsCosta Coffee invests £20m in drive-thrus and new store openings
The Coca-Cola owned company opened its 300th drive-thru in the UK today as it continues to invest in the on-the-go coffee marke
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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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NewsCity snapshot: Coca-Cola Europacific Partners raises guidance on out of home rebound
GB Coke bottler Coca-Cola Europacific Partners has raised its sales and profits outlook after strong volume-driven first half growth on the back of a strong rebound of out-of-home consumption
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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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NewsMedia Bites 3 August: Greggs, Supermarket petrol, Starbucks
Greggs customers could face further price rises after the bakery chain warned that its costs would rise by 9% this year