Finance news – Page 303
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NewsCity snapshot: Distil revenues rise 21% since April on strong retail sales
The premium drinks brands owner now expects revenues for the first half up by 75% to 85%
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NewsMedia Bites 8 July: Mini budget, Government loans, Retail footfall
Rishi Sunak will deliver his mini budget today in what the Treasury is calling the Summer Economic Update, with a focus on jobs, youth unemployment and a possible temporary cut to VAT.
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NewsJoanna Allen steps in as new CEO of Graze
Allen has taken over from Anthony Fletcher, who spent nine years leading the business
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NewsUK footfall recovery remains sluggish despite lockdown easing
UK footfall recovered slightly in the third week of shops reopening in England and Northern Ireland, but were still down almost 50% year on year
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NewsMedia Bites 7 Jul: Pret A Manger, High Street spending, Uber
Pret A Manger mulls closing 30 stores and axing over 1,000 staff after coronavirus hit, high street spending partly rebounds as casual dining sector reopens and Chancellor Sunak is due to announce a £3bn package of green investment
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NewsCity snapshot: Uber confirms $2.65m Postmates US food delivery acquisition
Uber said Postmates is highly complementary to Uber Eats, with differentiated geographic focus areas and customer demographics
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NewsGovernment urged to clamp down on unhealthy foods by new report
Where change has not happened the government must introduce mandatory requirements, according to the report
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NewsRentokil CFO Jeremy Townsend joins Morrisons as non-executive director
Townsend will step into a non-exec role with immediate effect, replacing Belinda Richards, who is leaving after five years
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NewsCity Snapshot: Chancellor mulls new coronavirus measures as EU relaxes state aid rules
The Treasury is looking into making accessing coronavirus support loans easier for businesses
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NewsMedia Bites 6 July: Tesco, M&S/Ocado, Pret
Tesco has demanded “offensive” discounts from suppliers in a move expected to spark a price war.
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NewsExporters fear US standards would undermine Britain’s ‘premium’ reputation
A new trade commission was hailed as an “important step” towards protecting British food standards
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NewsSuffolk ice cream maker celebrates 100th anniversary after £250k coronavirus loan
Family-run ice cream maker Criterion Ices has been able to celebrate its 100th anniversary after securing a £250k loan to help it navigate the coronavirus disruption
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NewsSainsbury’s scraps immediate payments for small suppliers
The supermarket, like several other retailers, improved its terms in the wake of the virus
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NewsTesco pressures suppliers to drop prices in Aldi price war
The Grocer understands suppliers have been given a cut-off of 10 July to respond to its call for a switch to everyday low pricing (EDLP), which will also see promotions canned unless they come under its Clubcard loyalty scheme
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NewsHiggidy back in profit after stake sale to Samworth Brothers
Higgidy’s pre-tax profits came in at £42k, compared with a £180k loss the prior year
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NewsMedia Bites: ABF/Primark, Supermarket profits, M&S
Coronavirus lockdowns have cost Associated British Foods £800m, with clothing retailer Primark expecting profits to tumble by two-thirds this financial year.
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NewsCity snapshot: June retail sales show modest recovery to highest level since February
June retail sales achieved their best result since February, despite dropping by more than 14%
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NewsVibrant Foods snaps up Cofresh Snack Foods to bolster mainstream push
Exponent-backed Vibrant Foods closed the deal for the Leicester-based bagged snacks group this week for an undisclosed sum
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NewsPret a Manger launches evening dinner menu for delivery
‘Dinners by Pret’ will start deliveries of an evening menu on 7 July from seven shops in London, Nottingham, Cambridge and Bristol, as well as from a new hub kitchen in north west London
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NewsM&S relaunches Sparks loyalty scheme with updated app
The retailer has spent the past nine months redesigning the flagging scheme