Finance news – Page 255
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City snapshot: Sainsbury’s sales and profits plunge despite price cuts
Sainsbury’s has fallen to a loss in its first half as the supermarket suffered from higher marketing costs, comparisons with good trading a year ago and the impact of cost savings
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Media Bites 7 Nov: M&S, John Lewis, Pizza Express, Boots, Amazon, Beavertown
Marks & Spencer food business returned to growth for the first time in over two years but troubles within the chain’s clothing unit hit profits
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Platinum Retail sees profits soar as forecourt expansion continues
A fall in oil prices towards the end of 2018 and the expansion of the estate helped improve gross margins
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City snapshot: Marks & Spencer food sales rise after two years but profits drop
Marks & Spencer reported growth in its food business but group revenues and profits were dragged down by a poor first-half performance from the clothing and home division
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Media Bites 6 Nov: Boots, ABF, Imperial Brands
Associated British Foods has said it expects earnings to rise in the coming year, driven by a recovery of its struggling Sugar unit and better-than-expect margins at fast-fashion chain Primark
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31 Dover turns to the crowd for £500k growth funding
DMD Ventures will take to Crowdcube in mid-November as it seeks to raise £500k
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FrieslandCampina UK profits jump 49% despite sales drop
Profits at the UK arm of Dutch dairy giant FrieslandCampina rose 49% last year, despite the ‘difficult economic situation’
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City snapshot: Associated British Foods delivers ‘resilient’ performance
Associated British Foods has reported a rise in profits as it delivered a “resilient performance” offsetting ongoing troubles at its Sugar division
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Media Bites 5 Nov: Uber, M&S, Just Eat
Lower than expected overall number of active customers and activity at Uber Eats hit the taxi company’s bottom line as it reported losses of £1.2bn in the third quarter
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Retail sales recover in October as bigger discounts encourage spending
On a total basis, sales rose 0.6% in the four weeks to 26 October
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Value of food industry M&A deals drops over 60% in September
The UK emerged as the top country in terms of M&A activity in September, with six deals completed in the period
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Nutri-Genetix to crowdfund for launch of genetically personalised shake
The nutrition company has already raised £178k to fund a new year launch of its shakes
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City snapshot: Takeaway.com increases Just Eat deal likelihood by way of offer
Dutch food delivery giant Takeaway.com has increased the “certainty” of its all-share combination with Just Eat by implementing the merger by way of an offer
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Media Bites 4 Nov: Asda, Coffee Pods, McDonald’s
Asda has granted an extra week to staff in order to sign new contracts or face the sack
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Colgate-Palmolive sales rise but miss analysts’ forecasts
The US consumer goods giant reported net revenues of $3.92bn, up 2% on the comparative period in 2018
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Devoted Pet Foods seeks £100k from crowd for launch into DTC
The brand is looking to raise £100k on Crowdcube in exchange for a 4.8% stake
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City snapshot: Tesco pledges to remove one billion pieces of plastic by end of 2020
Tesco will get rid of plastic trays from ready meals, secondary lids and sporks and straws from snack pots as it tackles plastic use within the business
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Media Bites 1 Nov: Kraft Heinz, Altria/Juul, Salmonella
Kraft Heinz’s struggles continue with another quarterly net sales decline as the fmcg grapples with changing consumer tastes
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Harrogate Water exports boost sales in already buoyant sector
The Harrogate Spring Water and Thirsty Planet producer posted sales of £21.6m in the 12 months to 31 March 2019
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Retail sector pay driven up by rise in high-skill roles
The gender pay gap in retail was broadly in line with last year at 9.5% in favour of males