Finance news – Page 216
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NewsFarmdrop needs ‘significant’ funding to sustain expansion
‘Material uncertainty’ concerns the future of the online supermarket Farmdrop’s auditor warns
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NewsCity snapshot: DIY and gardening sales boom boosts revenues at B&M
B&M European Value Retail has announced today it has seen a double digit jump in like for like sales during the lockdown period, despite a “significant fall” in customer numbers. Plus trading updates from Eage Eye, Young’s and all the rest of the latest news from the City.
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NewsMedia Bites 29 May: Big food brands, Robot deliveries, Amazon
Big food brands such as PepsiCo and Kraft Heinz have started to sell DTC in the pandemic, shoppers in Milton Keynes could benefit from robot deliveries and Amazon set to hire full-time over 125k US employees
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NewsLotus Bakeries extends ownership of Natural Balance Foods to 98%
The deal was completed for an undisclosed amount that represents around 1.7x the current year net sales…
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NewsInvestors raise a glass to merger of Marston’s and Carlsberg brewing arms
Investors and analysts raised a much-needed glass in celebration of the beer industry on Friday last week…
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NewsAdelie food-to-go customers up for grabs as it enters administration
The UK sandwich market is set for further consolidation into a duopoly after number three player Adelie fell into administration this week
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NewsConfectionery wholesaler Hancocks shuts down four depots amid shift to online
Hancocks has so far reopened six depots, with the remaining nine set to follow in the coming weeks
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NewsCoronavirus: UK facing stiff competition from Europe for seasonal food workers
EU countries are easing lockdowns faster than the UK – and becoming increasingly desirable for workers
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NewsPret a Manger to open a further 204 shops for takeaway in towns and cities
It will bring the total number of reopened sites to more than 300 following temporarily closures in March
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NewsCity snapshot: Paypoint card transactions surge during coronavirus outbreak
Paypoint has seen card transactions increase around 75% in April and May as shoppers are urged to ditch cash to prevent spreading the coronavirus
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NewsMedia Bites 28 May: Grocery market share, Retail landlords, Harrods
Tesco and Sainsbury’s have increased sales at a faster rate than discounter Aldi for the first time in a decade, as the coronavirus pandemic spurred weekly shops and more online ordering
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NewsDeloitte seeks buyer for Adelie as it falls into administration
Adelie has appointed administrator Deloitte after its business was hammered by the widespread closure of food-to-go outlets
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NewsWaitrose profits sliced in half as restructure plan takes toll
Exceptional costs of more than £30m related to redundancies at head office and store closures
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NewsCostcutter plans to keep ‘lifeline shoppers’ as results show 10% sales hike
Sales in the four months to the end of April were up 22%, excluding tobacco
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NewsScandit secures funding boost amid rising demand for ‘contactless business’ tech
Scandit technology is also used by grocery delivery drivers to ensure the right items are delivered to the correct customer
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NewsMedia Bites 27 May: Adelie, JAB/JDE, High Street
Food-to-go manufacturer Adelie calls in administrators, JAB eyes €16bn valuation for coffee business JDE and high street retailers prepare to reopen in mid June
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NewsCity snapshot: Grocery sales surge 17.2% as lockdown eases
British take-home grocery sales surged by 17.2% over the past four weeks to take 12-week grocery growth to its highest level since records began, according to Kantar. Plus, Britvic posts ‘robust’ performance despite coronavirus impact, Supermarket Income Reit creates JV to invest in Sainsbury’s supermarkets and all the rest of the latest news from the City.
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NewsDeliveroo offers restaurants and landlords advice on lease terms
Suggested outcomes include new deals in which the tenant pays a percentage of turnover to the landlord
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NewsProfiteering during coronavirus most rife in London, reports CMA
The largest price increases concern hand sanitiser, with a reported median rise of almost 400%
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NewsAldi to install traffic lights to limit number of in-store shoppers
The automatic doors only open when the lights are green