Finance news – Page 243
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NewsSainsbury’s slashes hundreds of management roles in Argos integration
CEO Mike Coupe said the senior leadership team had been reduced by more than 20% since the start of the financial year in March 2019
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NewsSainsbury’s CEO Mike Coupe to retire, replaced by Simon Roberts
Sainsbury’s CEO Mike Coupe has announced his intention to retire in May, when he will be replaced by current retail and operations director Simon Roberts
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NewsMedia Bites 22 Jan: Sainsbury’s, Aldi, Deliveroo
Sainsbury’s is poised to axe hundreds of managers in a cost-cutting drive at the supermarket chain.
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NewsAvara sales top £1bn but profitability hit by labour and integration costs
The poultry giant saw turnover rise to £1.14bn, according to its latest accounts, with pre-tax profits at £13.7m
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NewsShopping centre owner Intu appeals to shareholders to reduce debt
The owner of some of the UK’s biggest shopping centres is asking shareholders for more cash to help tackle nearly £5bn in debt.
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NewsAldi to become UK’s top paying supermarket with basic rate boost
Aldi store employees will receive a minimum hourly rate of £9.40 nationally and £10.90 inside the M25 from 1 February
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NewsScottish Spar operator CJ Lang hails strong Christmas sales
The business pointed out the results were particularly positive given it enjoyed a strong festive period the previous year
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NewsDrop Drinks turns to the crowd to fund soft drinks range expansion
The startup, which produces soft drinks and mixers inspired by traditional British sweets, is looking for £80k to fund the launch of three additional flavours
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NewsCity snapshot: SSP Group’s first quarter sales grow as it buys Germany’s Station Food
Travel food specialist SSP Group has had a “robust” start to its financial year and announced the acquisition of German travel catering business Station Food. Plus, Aldi raises pay for staff to maintain its position as the UK’s highest-paying supermarket and all the rest of the latest news from the City.
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NewsMedia Bites 21 Jan: FeverTree, Itsu, Stock Spirits
Fevertree is being tipped as a potential bid target after a warning over poor Christmas trading sent its shares tumbling by more than a quarter.
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NewsSocial entrepreneur Natalie Campbell named as new Belu CEO
She will replace outgoing CEO Karen Lynch from 1 March
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NewsNon-alcoholic craft brewer Big Drop to seek £1m in crowdfunding
The brand claimed its turnover was ‘edging towards £1m in 2019’
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NewsFeverTree shares crash on profits warning
FeverTree Drinks has warned its annual performance is due to fall “below expectations” despite guiding for a near 10% sales increase.
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NewsMedia Bites 20 Jan: Premier Foods, Which?, Retail sales
Premier Foods enjoyed a Christmas sales boost, Sainsbury’s was crown by Which? as the cheapest supermaker of 2019 and retail sales slumped marking the worst performance since records began
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NewsAvocado supply issues drive Greenyard Fresh to multimillion loss
Greenyard Fresh UK has sunk to a significant loss off the back of a drop in sales caused by “difficulties” with avocados and stone fruit.
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NewsPlanet Organic slumps to loss but sales momentum is strong
Organic supermarket Planet Organic fell to a loss last year as its new private equity owner invested cash to fund growth.
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NewsTrump’s tariffs trigger slump in UK food and drink exports
British food exports to the US fell by a quarter following the introduction of Donald Trump’s punitive tariff regime last year, with the situation now at risk of deteriorating further.
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NewsUK food sales suffer largest drop since 2016
December marked a 1.3% slump in the volume bought across food stores, according to official ONS figures, the largest drop since December 2016
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NewsSkinny Tonic smashes crowdfunding target, raising over £1.4m
The campaign will close today after overfunding by 184%
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NewsCity snapshot: Premier Foods posts growth of 2.6% in crucial third quarter
Premier Foods has posted third quarter growth of 2.6% in its third quarter encompassing the Christmas period. Plus, Cranswick ups full-year profit expectations and trading updates from Devro and French retail giant Casino.