Finance news – Page 326
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NewsGlow of summer grocery sales boom begins to fade
The hot weather triggered a bumper summer for the grocers, but the latest market share data suggests spending has slowed in more recent weeks.
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NewsMedia Bites 18 Sep: Unilever, Coca-Cola, Finsbury Food Group
Another leading shareholder in Unilever has hit out at the consumer group’s plan to move its headquarters to the Netherlands.
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NewsGrain D’or closure hits profits at Finsbury Food Group
Bakery business Finsbury Food Group has reported a 65% drop in full year pre-tax profits as it was impacted by £12m in costs caused by the closure of its Grain D’or bakery business.
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NewsPoundstretcher fuels expansion with former Poundworld sites
The discounter had been bidding to buy 200 Poundworld stores before the chain went into administration but couldn’t agree terms
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NewsMotor Fuel Group's MRH takeover edges closer
A merger between the two would create a forecourt operator with about 930 sites before disposals
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NewsCity snapshot: Cathedral City and Clover drive first half sales growth at Dairy Crest
Cathedral City manufacturer Dairy Crest expects a rise in profits and sales for the first half of 2018, driven by its cheese and spreads, Finsbury Food Group pre-tax profit fall following Grain D’or closure, and all the rest of the latest news from the City.
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NewsMedia Bites 17 Sept: Tesco, The Co-op, Unilever
Tesco is planning to shut a raft of City centre stores and convert dozens of others to Jack’s, its new discount format, in a move that will put thousands of jobs at risk
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NewsCo-op food sales boosted by more competitive prices
Food retail like-for-like sales were up 4.4% in the first six months of the year
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NewsNespresso drives up Nestlé UK sales as petfood struggles
Nestlé posted a 3.6% rise in UK sales last year, with its Nespresso brand posting double-digit growth, but profits fell back as its key petfood division struggled.
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NewsFood suppliers start stockpiling amid fears of no-deal Brexit
Major food and drink companies have begun stockpiling supplies and exploring alternative manufacturing options in Europe
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NewsCity snapshot: Co-op Group first half sales up 10% as food and Nisa deal drive growth
The Co-op Group has this morning announced a 10% rise in first half sales to £5bn driven by strong like for like food sales growth and its acquisition of Nisa. Plus, Connect Group, the logistics company spun out of WH Smith, has announced a profit warning and all the rest of the latest news from the City.
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NewsMedia Bites 14 Sep: John Lewis Group, Morrisons, Metro
The spectacular 99% slump in John Lewis Group’s profits dominates the business headlines this morning, though Morrisons’ first half results receive warmer coverage.
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NewsEmily Crisps seek cash injection to propel UK growth
The high-end crisp brand has almost completed a £1m crowdfunding raise in order to drive recruitment, marketing, and improve awareness in the UK
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NewsFormer Aldi UK boss Roman Heini moves to Lidl
Heini was joint-MD of Aldi UK between 2010 and 2014
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NewsSales slide at Whitworth's after price squeeze from 'major customers'
The home baking specialist blamed increasing “price pressures” for the drop in sales to £167.1m
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NewsCity snapshot: Morrisons first half sales up 4.5% after strongest quarter for nine years
Morrisons has posted a first half revenue rise of 4.5% to £8.8bn after a like for like sales surge in the second quarter driven by its growing wholesale business. Plus, John Lewis Partnership pre-tax profits plunge 99% despite improving Waitrose performance and all the rest of the latest news from the City.
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NewsMedia Bites 13 Sep: Supermarket consolidation, E-cigarettes, Fonterra
Morrisons looks set to be the ‘kingmaker’ in the £14bn merger of Sainsbury’s and Asda as they are forced to offload stores to get the deal done, writes The Mail.
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NewsFruitapeel sales jump 31% in year of Puratos acquisition
The private label manufacturer drove sales from £10.4m to £13.6m in the year ending 28 February 2018
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NewsCity snapshot: Morrisons faces £1bn equal pay claim
Law firm Leigh Day has announced it is seeking equal pay compensation for female Morrisons workers that could add up to more than £1bn. Tesco readies Jack’s announcement and all the latest news from the City.
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NewsMedia Bites 12 Sept: Tesco/Jack's, Unilever, Morrisons
The launch of a Tesco’s discount chain is set to be announced in Cambridgeshire next week as Britain’s biggest supermarket group unveils its Jack’s concept to battle the discounters.