Finance news – Page 221
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NewsEast London Liquor Co buys RTD startup Longflint Drinks
Longflint co-founder James Law has joined the board of East London Liquor Co with the deal
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NewsPosh crisps maker Kettle slashes losses ahead of sale to Valeo
Premium crisps manufacturer Kettle Foods has cut its losses by over 85% in the year ahead of its sale to Irish food giant Valeo
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NewsFormer Genesis Crafty boss McErlain opens £1m Bertie’s Bakery
The 15,000 sq ft site in Creagh will produce 12 ranges of freshly baked goods…
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NewsSupermarkets hike egg prices amid shortages and soaring demand
Volume sales were up almost 18% earlier this month, while supplies have also been affected by an avian flu outbreak
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NewsSainsbury’s optimistic profits will hold despite £500m coronavirus hit
CEO Mike Coupe has presented a positive forecast for the 2020/21 financial year
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NewsDeliveroo to make over 300 roles redundant
The cuts are being made across the 13 markets Deliveroo operates in
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NewsMedia Bites 30 April: John Lewis/Waitrose, Sainsbury’s, UK retailers
Sharon White takes U-tunr on predecessor plan,Sainsbury’s warn queues could remain until Septmeber and retailer struggle to access government cash
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NewsCity snapshot: Sainsbury’s defers dividend amid £500m coronavirus hit
Sainsbury’s has deferred its final dividend amid the “significant impact” of the coronavirus outbreak on its business, which it expects to generate £500m of extra costs. Plus, on a busy morning, updates from Reckitt Benckiser, Carlsberg, M&S, C&C Group and British American Tobacco.
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NewsExeter-based wholesaler J&R Food Service turns DTC after securing government loan
The cash was used to diversify the business into supplying food and essential items to households across the south west
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NewsC-store delivery app Snappy Shopper sales soar over 500% in lockdown
The latest figures show the number of customers ordering goods via the app has increased by 360%
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NewsFormer Sainsbury’s buyer James Bailey made Waitrose executive director
Recruitment is also underway for the same role for John Lewis to replace Paula Nickolds
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NewsMedia Bites 29 Apr: Waitrose/John Lewis, M&S, Grocery market share
Dame Sharon White, head of the John Lewis Partnership, is poised to announce that ex Sainsbury’s exec James Bailey will be Waitrose’s next leader.
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NewsBelgian food tech startup Deliverect raises €16.3m to expand internationally
The company will use the investment to support R&D and product development, solidify its position in Europe and expand internationally
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NewsCity snapshot: Fever-Tree co-founder to step down
Charles Rolls has announced he will step down from the company’s board at the next annual general meeting on 4 June
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NewsTesco’s coronavirus sales growth outstrips discounters as convenience sales soar
The UK’s largest supermarket Tesco grew sales at a faster rate than the German discounters in April, while convenience sales continue to boom
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NewsCoronavirus: SMEs welcome ‘lifeline’ of government-backed ‘bounce back’ loans
The new micro loan scheme comes as previous emergency measures for SMEs received harsh criticism for letting many “slip through the cracks”
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NewsTesco fulfils one million grocery deliveries in one week
The supermarket giant said it aimed to reach a capacity of 1.2 million weekly delivery slots
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NewsPost Office rolls out cash delivery service for vulnerable customers
The National Shielding Service is a working partnership with the Department for Work & Pensions to determine if customers need a cash delivery
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NewsGrocery sales growth slows in April
The past 12 weeks have continued to see strong grocery sales growth of 9.1%, according to Kantar, but sales growth slowed down in the past four weeks.
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NewsMedia Bites 28 April: Tesco, Treasury/loans, Imperial Brands
Tesco starts laying off temporary staff, Sunak unveils new loans for small businesses and Imperial brands sells cigar unit