Finance news – Page 173
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NewsCity News: Danone shares rise after it ditches chairman-CEO split plan
Earlier this month Danone had agreed to split the roles of chairman and CEO
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NewsSupermarket prices in deflation despite fall in imports from EU
The Grocer Price Index found that overall the big four’s prices fell back 0.2% year on year across February
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NewsEx Thorntons chair regrets sale to Ferrero
Ferrero this week said the remaining 61 Thorntons shops would not reopen when lockdown lifts next
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NewsAsda CEO Roger Burnley to step down
He will leave the business next year following its takeover by the Issa brothers and TDR Capital
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NewsMedia Bites 19 March: Ocado, Asda, Fever-Tree
The boss of Ocado has shrugged off the threat of new faster delivery rivals and claimed that Amazon has a ‘negligible impact’ on the British grocery market
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NewsCity Snapshot: Ocado first quarter sales surge 40% amid ‘permanent shift’ to online grocery
Ocado has seen a 40% surge in sales over Christmas and the New Year amid a “permanent shift” from physical to online grocery shopping. Plus, FeverTree margins tighten as off-trade shift limits annual sales drop to 3% and all the rest of the latest news from the City.
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NewsMission secures £1.6m investment to brew up expansion plan for energy tea brand
The funding round was led by former and current executives at BrewDog, Cadbury, HelloFresh, Allplants, Graze, KP Snacks and Tails.com, alongside England cricketers Michael Vaughan and Heather Knight.
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NewsMedia Bites 18 March: SSP, Danone, Ocado
SSP Group, the airport and railway caterer behind Upper Crust and Caffè Ritazza, predicted that passenger numbers would not return to pre-Covid levels until 2024 as it tapped its shareholders for £475m of new funding.
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NewsCovid puts an end to strong growth at Trewithen Dairy
Latest accounts for parent company Cornish Farm Dairy, for the year ended 30 April 2020, showed revenues declined 6% to £52.1m as the first national lockdown led to a collapse of its foodservice, hospitality and tourism business at the tail end of the accounting period.
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NewsThe Cheesecake Shop to rebrand after MBO
The buyout, led by Neil Blakeman and Dillan Shikotra, includes eight retail stores across the region, as well as the bakery in Nottingham.
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NewsBurleighs Gin raises £250k to support new product launches
The Leicestershire brand, which produces a core range of four London dry gins, secured the investment from the Midlands Engine Investment Fund
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NewsJiffy bags £2.6m funding to launch online supermarket
The company’s first dark store will open in London this month offering a total range of 2,000 SKUs
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NewsMedia Bites 17 March: Greggs, Visa, Ocado
Greggs is pushing ahead with ambitious plans to open 100 new shops this year despite falling to its first loss in 37 years as a public company
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NewsCity snapshot: SSP Group launches £475m rights issue as it readies for slow Covid recovery
Upper Crust owner SSP Group is planning to raise £475m from shareholders in a rights issue to strengthen the balance sheet and prepare for a recovery from the coronavirus pandemic as lockdown restrictions begin to lift. Plus, Dutch dairy company FrieslandCampina agrees jv with Egyptian cheese maker to focus on the exports to Africa and the Middle East. And Science in Sport reports full-year results.
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NewsCity snapshot: Greggs falls to first loss as store closures drive 36% sales drop
Bakery and food to go chain Greggs has reported its first loss since it floated in 1984 as the coronavirus and resultant store closures hammered sales. Plus, Bakkavor sales drop in UK convenience sector falls, C&C Group sells US cider brand and all the rest of the latest news from the City.
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NewsMedia Bites 16 March: Thorntons, Iceland, Danone, Deliveroo
The decision by Thorntons to close all 61 of its physical stores after suffering through the Covid pandemic is covered by the papers this morning.
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NewsFarmer Connect raises $9m to meet surging supply chain demand
The investment would be used to capitalise on demand for sustainable, inclusive and efficient agriculture supply chains
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NewsThorntons to permanently close all stores to focus online
Chocolatier Thorntons is set to disappear from the high street following a decision to close down its remaining network of 61 stores, putting more than 600 jobs at risk.
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NewsUlrick & Short snapped up by Swedish investment house Novax
Based in Yorkshire, Ulrick & Short supplies food manufacturers with a wide range of clean label and plant-based ingredients.
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NewsFarmison profits from surge in online shopping in best-ever year
Revenues more than doubled to £12.1m in the nine months to 31 December 2020, compared to £5.4m in the whole of 2019.