Finance news – Page 149
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NewsCity snapshot: Sales and profits slide at Morrisons as it warns of rising costs
Morrisons saw like for like sales fall 3.7% in the second quarter against “tough” year on year comparatives, while first half pre-tax profits fell by more than a third due to Covid costs and business rates.
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![Morrisons_Paper_Bags_2[36]](https://dmrqkbkq8el9i.cloudfront.net/Pictures/100x67/4/4/1/244441_morrisons_paper_bags_236_623262.jpg)
NewsMedia Bites 9 Sep: Morrisons, B&M Bargains, Weetabix
The battle for Morrisons is set to be decided in a head-to-head auction between two private equity bidders
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NewsCity snapshot: Morrisons lays ground for takeover auction
Morrisons is in talks with the UK Takeover Panel in preparation for a bidding auction ahead of a shareholder vote in mid October.
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NewsMedia Bites 8 Sep: John Lewis, Amazon, Iceland
John Lewis is to sell fast fashion range from Waitrose supermarkets in move to bolster turnaround plan
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NewsCity snapshot: Retail sales growth begins to slow in August
Year on year sales growth fell back in August as pent-up post-lockdown demand softened, according to the monthly BRC-KPMG Retail Sales Monitor. Plus interim results from McBride and Parsley Box.
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NewsMedia Bites 7 Sep: Supply chain crisis, Tesco, Border checks
The threat of strike action by lorry drivers at two firms, including Booker, has raised the prospect of further disruption this autumn amid Britain’s worst supply chain meltdown since the 1970s
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NewsBorder Biscuits takes pandemic hit from out-of-home sales slump
Premium snacks supplier Border Biscuits saw a double-digit drop in sales last year as the coronavirus pandemic hit out-of-home sales, but expects to return to growth this year as the out-of-home market reopens.
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NewsCity snapshot: Great Britain loses 8,700 shops in the first half of 2021
More than 8,700 stores disappeared from Great Britain’s high streets in the first six months of 2021 as the level of retail vacancies reached an all time high.
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NewsCity News: WH Smith recovery set back by profit warning
A mixed update said trading in the eight weeks to 28 August had been better than expected
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NewsMedia Bites 6 Sep: Brewdog, Morrisons, M&S
BrewDog has established its first international joint venture with Japan’s Asahi as the UK’s largest craft brewer seeks to increase sales ahead of a planned London IPO
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NewsCity snapshot: Retail footfall still down on pre-pandemic levels despite August bounce
UK retail footfall remains significantly down in pre-pandemic levels despite the relaxation of government Covid restrictions, albeit August saw some tentative signs of recovery.
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NewsWholey Moly secures funding as it readies for mults launch
The business’ range of cookies are set to be stocked by Sainsbury’s and Ocado from this month
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NewsMedia Bites 3 Sep: Driver shortage, CCEP, Exports
Supermarkets recruiting lorry drivers by offering higher wages will lead to shortages of hauliers needed to deliver to schools, prisons and wholesalers
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NewsSewell On The Go profits soar despite 18% sales decline
The retailer said a shift towards store-only visits compensated for the fuel sales slump
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NewsVeg Capital adds Clive’s Purely Plants to plant-based portfolio
The specialist private family fund will buy out existing majority shareholders Sally and Chris Carson
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NewsUK food and drink exports to the EU slump by £2bn
The Food and Drink Federation found overall industry exports were down 4.5% to £9.2bn in the first six months of the year
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NewsSouth Caernarfon Creameries racks up record profit
The Welsh business shrugged off pandemic-based challenges to post operating profits of £3.4m in its latest accounts
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NewsCity snapshot: CCEP sales rebound as easing of Covid restrictions boosts consumption
Coca-Cola Europacific Partners has reported ‘strong’ first half performance as volumes recovered in the second quarter as coronavirus restrictions eased across key territories.
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NewsMedia Bites 2 Sept: Amazon, JD Wetherspoon, WH Smith, Morrisons
Amazon is hoping to defy worker shortages with a renewed commitment to the UK by creating some 2,000 new jobs as part of a 55,000-strong global recruitment spree.
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NewsOrchard House beefs up leadership team following PE acquisition
New private equity owner Elaghmore is looking to kickstart growth at the supplier