Finance news – Page 176
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City snapshot: Grocery sales growth hits eight month high in February
Grocery industry sales growth accelerated to its highest level since June 2020 during February as the latest national restrictions curtailed spending in cafés, restaurants and pubs. Plus trading updates from Hotel Chocolat, HelloFresh and Virgin Wines starts trading on the stock exchange.
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Media Bites 2 March: Danone, Morrisons, The Restaurant Group
The board of directors of Danone has sought to calm an acrimonious public fight with activist shareholders by agreeing to split the chairman and chief executive roles now both held by Emmanuel Faber.
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Grocemania reaches £100k target to fund growth into new cities
The rapid delivery service is already in London, Brighton, Nottingham and Bristol
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Media Bites 1 March: High Street/Budget, John Lewis/Waitrose, Danone
Chancellor Rishi Sunak is set to announce a £5bn grant scheme to help High Street businesses hit hardest by the pandemic
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City snapshot: McColl’s to roll out hundreds of Morrisons Daily stores
McColl’s Retail Group has extended its wholesale supply agreement with Morrisons and is converting hundreds of stores to the supermarket’s convenience offering. Plus, Ocado has kick-started operations at its new mini customer fulfilment centre in Bristol.
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City News: Investors wary despite record growth for Reckitt Benckiser
Consumer health giant Reckitt Benckiser posted the highest annual revenue growth in its history this week, but its share price failed to respond
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Media Bites 26 Feb: Asda, DS Smith/Mondi, ABF/Primark
About 5,000 jobs are at risk at Asda after the supermarket group launched a big restructuring in response to the rapid rise of online shopping
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Jammie Dodgers maker Burton’s Biscuits set to be put on sale
Ontario Teachers’ Pension Plan, which bought Burton’s in 2013, has hired advisors at Stamford Partners to run the process.
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Giles Brook backs eco cleaning challenger Neat with six-figure investment
Neat has eliminated single-use plastics by producing plant-based cleaning concentrates in small glass containers and refillable aluminium spray bottles
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City Snapshot: Primark drags back grocery and sugar progress at ABF
Associated British Foods said its grocery, sugar and agriculture businesses will be “materially ahead of expectations” for its first half, but Primark’s coronavirus-drive weakness will reduce overall sales and profits. Elsewhere, Biffa buys food waste retailer Company Shop, Virgin Wines reveals £110m listing details and AB InBev grows fourth quarter sales.
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Media Bites 25 Feb: Beer duty, Brexit, Reckitt Beckiser, EG Group
Beer duty could be cut in pubs and raised in supermarkets to encourage people to go out after the lockdown ends, Boris Johnson hinted yesterday.
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Bailout hopes grow for wholesale sector as PM admits it has ‘fallen through the cracks’
The PM has signalled foodservice wholesalers could finally be offered sector-specific support
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Media Bites 24 Feb: Oatly, SimplyCook, Exports
Swedish non-dairy milk maker Oatly is set to go public with a New York listing that could value it at up to $10bn
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Greencore commits to fully recyclable packaging by 2025
Sandwich giant Greencore will commit to producing only recyclable or reusable packaging by 2025 as part of a wider sustainability drive presented to investors and analysts later today.
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City snapshot: Record year for Reckitt Benckiser as Covid fuels demand for Dettol
A strong end to the year has helped Reckitt Benckiser register double-digit growth in 2020 as consumers turned to Dettol, Lysol and other hygiene brands to keep coronavirus at bay. Plus, EG Group strengthen board with new non-exec appointment, and Glanbia profits slump as Covid take toll on performance nutrition division.
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Nestlé expands DTC portfolio with acquisition of SimplyCook
The deal follows the takeover of Mindful Chef in November last year as the Swiss food giant moved to increase its exposure to the flourishing direct-to-consumer market
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City Snapshot: McBride boosted by cleaning products demand spike
Household goods manufacturer McBride has seen an uplift in sales and profits in the second half of the year as the coronavirus outbreak continues to boost the sale of cleaning products
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Media Bites 23 Feb: Coronavirus exit plan, online sales tax, Brexit
The main news story dominating the news this morning is the details of Prime Minister Boris Johnson’s coronavirus lockdown exit plan.
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Huel sees surge in growth as home delivery booms
Huel said growth was helped by new flavour launches and the rollout of an improved recipe
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Media Bites 22 Feb: Caffè Nero, John Lewis Partnership, Business rates
The billionaire owners of Asda are trying to launch an audacious raid on Caffè Nero by buying part of its £350m debt pile