Finance news – Page 193
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NewsMedia Bites 19 October: John Lewis, M&S/Ocado, EG Group
The strategic update at John Lewis Partnership on Friday receives plenty of coverage in this weekend’s papers.
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NewsBirds Eye sales outdo expectations after shoppers fill freezers
Birds Eye sales powered ahead of expectations as shoppers stocked up their freezers during lockdown.
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NewsCity snapshot: Danone launches full portfolio review to plan for new COVID-world
French dairy giant Danone has this morning announced its intention to conduct a full portfolio review and put assets worth €500m up for immediate sale to tailor its business for a post-coronavirus market.
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NewsCity snapshot: John Lewis pledges to move ‘beyond retail’ to boost profits
John Lewis Partnership is to launch a host of new services to move the group “beyond retail” as it seeks to reach £400m profit within five years
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NewsMedia Bites 16 Oct: EG Group, John Lewis, Boots
EG Group’s bonds dropped in value on Thursday after reports that the auditor of the highly acquisitive UK petrol station operator had resigned over governance concerns.
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NewsBooths reports sales surge thanks to staycation boom
The retailer enjoyed a strong performance at its seven Lake District stores over the summer
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NewsDenzel’s dog snack brand secures six-figure investment
Denzel’s will spend the money on expanding its product range and building the team
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NewsMedia Bites 15 October: EG Group, Ocado, Just Eat
Deloitte has resigned as auditor of EG Group, the UK petrol stations company whose billionaire owners just agreed a £6.8bn takeover of grocery chain Asda, because of concerns over its governance and internal controls.
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NewsCity snapshot: Marston’s to cut up to 2,150 jobs amid new coronavirus restrictions
Pub and brewing company Marston’s is to cut 2,150 roles after the coronavirus lockdown and ongoing restrictions have had a “material” impact on its trading. Plus, new chairman at BAT, Domino’s Pizza sees sales uplift, Distil benefits from drinking at home and all the rest of the latest news from the City.
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NewsBoparan rescues burger chain GBK from administration
2 Sisters owner Boparan has continued its push into casual dining, with the rescue of the GBK burger brand from administration
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NewsLivekindly Co raises $135m to accelerate expansion of plant-based brands portfolio
Plant-based brand collective The Livekindly Co has raised $135m (£104m) to accelerate its mission to transform the global “unsustainable meat-centric food system”, including developing chicken and egg alternatives.
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NewsYumello raises £100k growth funding from its online community
Fast-growing nut butter startup Yumello has raised £100,000 directly from its online customers in just two weeks to help fuel expansion.
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NewsCity Snapshot: Just Eat sales surge 46% in Q3 as coronavirus restrictions return
Takeaway giant Just Eat has enjoyed a 46% surge in global sales in the third quarter as the coronavirus pandemic kept consumers at home. Plus, Bakkavor CFO Pete Gates retires, Devro appoints a new CFO, Stock Spirits issues a trading update and Nestle completes its acquisition of Aimmune Therapeutics.
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NewsMedia Bites 14 Oct: Grocery market share, Amazon, Tesco
Alcohol sales at supermarkets soared in recent weeks after the Government imposed a 10pm curfew on pubs and bars
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NewsCity snapshot: Shoppers spend an extra £260m on supermarket alcohol in preparation for new lockdown
Grocery sales jumped almost 11% in September as shoppers prepared for new lockdown restrictions, with consumers spending an extra £261m. Plus, the latest figures from Nielsen, BRC-KPMG retail sales monitor and Barclaycard spending report.
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NewsMedia Bites 13 Oct: Unilever, Retail sales, Hospitality
Unilever’s UK shareholders have voted overwhelmingly in favour of plans to move the Marmite owner’s legal base to London
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NewsCity snapshot: Cake Box revenues recover after store reopenings
Cake Box has posted a strong recovery in trading following the lockdown enforced closure of its store estate, with like for like sales up by double digit excluding the closures.
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NewsMedia Bites 12 Oct: Asda, Unilever, Pork and poultry
Zuber and Mohsin Issa The new owners of Asda have set up an offshore bid vehicle that means the supermarket will be legally owned in Jersey. (The Times £) Two billionaire brothers from Blackburn have been made CBEs a week after clinching a £6.8bn deal to buy ...
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NewsTesco’s smooth transition to Ken Murphy wins analyst approval
Ken Murphy on Wednesday revealed that sales soared 6.6% in Tesco’s first half to £26.7bn
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NewsPoundland readies major push into fresh and frozen food with Fultons acquisition
Poundland has been working with Fultons for the past 12 months to grow its food range