Finance news – Page 263
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NewsSainsbury’s announces store closures as it targets £20m net operating profit boost
The closures are to include supermarkets, convenience stores and Argos outlets, as part of a store estate review
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NewsPladis appoints PepsiCo veteran David Murray as UK & Ireland MD
Murray’s responsibilities will include leading the UK & Ireland team
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NewsCity snapshot: Sainsbury’s stems sales slowdown amid store estate shake-up
Sainsbury’s has posted a small 0.2% drop in second quarter like-for-like sales (ex fuel), while announcing it plans to axe as many as 125 stores across its supermarkets, convenience stores and Argos outlets amid 200 openings.
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NewsMedia Bites 25 Sep: M&S, AG Barr, Hotel Chocolat
Marks & Spencer is parting ways with yet another director as Gordon Mowat, head of supply chain and logistics for the firm’s troubled clothing and home arm, has been pushed out after two years in the role.
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NewsFentimans profit growth hit by sugar tax and Brexit stockpiling despite sales jump
The premium soft drinks producer saw gross profits rise 14% last year but the growth was softened by costs associated with the sugar tax and Brexit stockpiling
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NewsBlue-chip fmcg companies among top 10 on sustainability
Fmcg companies and retailers are leading the fight against climate change among blue-chip companies, with Unilever, M&S and Tesco ranking among the top 10 most sustainable businesses
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NewsSodaStream chairman Birnbaum arrested on suspicion of insider trading
He was detained for questioning yesterday and later released after posting a 1.2 million shekel (£270k) guarantee
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NewsHenderson Wholesale reports rocketing sales and profits
The company-owned stores division, Henderson Retail posted a 12% increase in turnover to £384m and a 12.9% jump in pre-tax profit to £8.7m
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NewsCity snapshot: Hotel Chocolat annual sales and profits jump amid global expansion plans
Hotel Chocolat has shrugged off “economic headwinds” on the UK high street to post a 14% full year sales surge and a 9% rise in underlying earnings. Plus, sales and profits drop at AG Barr after “disappointing” first half and all the rest of the latest news from the City.
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NewsMedia Bites 24 Sep: Ocado/TDL, Tesco/Food waste, M&S
The company at the centre of an extraordinary legal dispute involving some of the UK’s best-known retailers has hit out at Ocado, accusing the retail technology company of over-reacting to its attempts to poach key executives
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NewsProduct recall leads to administration for Thomas Tucker
Popcorn supplier Thomas Tucker has called in administrators after a food safety recall caused a cash shortfall in the business.
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NewsDave Lewis urges mandatory food waste reporting as voluntary sign-ups fall short
Some 156 of the biggest food companies backed a pledge to ‘Target, Measure and Act’ on food waste
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NewsThe Meatless Farm secures seven-figure investment from Channel 4
Source: The Meatless Farm The Meatless Farm has secured the seven-figure equity investment in exchange for airtime of its new ad campaign Alternative meat startup The Meatless Farm Co has sold part of its equity to broadcaster Channel 4 in exchange for commercial airtime for its new ...
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NewsCity snapshot: M&S chief financial officer to step down
M&S’s chief financial officer Humphrey Singer has announed his decision to leave the business just as it formally exits the FTSE 100 index. Plus, PureCircle postpones annual results due to accounting issue and all the rest of the latest news from the City.
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NewsMedia Bites 23 Sep: Ocado/TDS, Sainsbury’s, M&S
Some of the biggest names in retail have become embroiled in an extraordinary legal row involving allegations of corporate espionage and conspiracy in a legal battle between Ocado and Today Development Partners.
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NewsGrenade sales soar as protein bar popularity continues
The “continued success” of its range of protein bars, shakes, spreads and biscuits boosted sales by 30% to £37.6m in 2018
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NewsOC&C Top 150 reveals fall in food and drink growth and profits
Sales growth and profit margins declined across the UK’s largest 150 food and drink suppliers as the industry readies itself for a no-deal Brexit.
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NewsAldi results: what next as sales rise and profits fall?
There’s no sign of shrinking confidence as Giles Hurley sets out the way forward, from his Aldi Local plans to overtrading
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NewsOcado continues to surge ahead, outgrowing UK grocery rivals
Ocado has been keen to show the impact of its Andover fire was minimal
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NewsNestlé UK profits fall despite soaring sales of Nespresso
Double-digit growth for Nespresso hasn’t been enough to prevent the fall in operating profits