Finance news – Page 337
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NewsPoundworld stores to close on 6 August if no buyer is found
So far 25 stores have aleady closed with 80 set to shutdown on 22 July…
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NewsAnnual sales dip 3.4% at Finsbury Food Group
Full year sales at baked goods manufacturer Finsbury Food Group (FIF) dropped 3.4% as it was impacted by bakery closures and declining overseas sales.
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NewsMedia Bites 16 July: Premier Foods, Walmart, Unilever
Former Rank Hovis McDougall executive chairman Paul Wilkinson added to ranks criticising Premier Foods CEO Darby ahead of a showdown shareholders this week.
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NewsAdelie Foods sinks to £28.8m loss after losing contracts
The food-to-go supplier fell dramatically in the year-and-a-half after recording a £5.5m profit in the previous 12-month period
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NewsCity snapshot: Weetabix profits slide amid sales process 'management distraction'
Profits slid at Weetabix in the run-up to its sale to US food group Post Holdings newly filed Companies House accounts have revealed. Plus, C&C Group has completed the refinancing of its bank facilities after its Bibendum and Matthew Clark acquisition and all the rest of the latest news from the City.
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NewsMedia Bites 13 July: Walmart, B&M, Ocado
Walmart has approached bankers about a potential sale of its struggling Seiyu supermarket chain and exit from Japan following a tumultuous 16 years in the market.
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NewsWeetabix profits fall as Post takes the reins
Profits at Weetabix slid in the run-up to its £1.4bn sale to US group Post Holdings amid “management distraction” around the sales process and rising costs, according to newly filed accounts.
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NewsTrigo Vision gains $7m funding for checkout-free store system
The $7m in funding, from Hetz Ventures and Vertex Ventures, is to be used to grow the research and development team…
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NewsB&M’s first quarter sales rise 21.3% despite organic slowdown
B&M Bargains owner B&M European Value Retail has reported a 21.3% jump in first quarter group revenue, driven by new store openings, international growth and a small rise in organic sales.
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NewsMedia Bites 12 July: Unilever, Tesco, Sainsbury's
A top-five shareholder in Unilever has warned of forced selling of the consumer giant’s shares as unrest grows among British investors worried that the group has been “totally unreceptive” to fears over its HQ move to the Netherlands.
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NewsMRH boss Karen Dickens to step down following MFG takeover
CFO Steve Back will leave after a three to six month transition period
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NewsBlakemore to close final five depots it has been unable to sell
The wholesaler has previously sold four and closed three other sites
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NewsSainsbury’s appoints Martin Scicluna as chairman
Sainsbury’s has announced it will appoint former Deloitte and RSA Insurance chairman Martin Scicluna as its new non-executive chairman to replace David Tyler.
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NewsMedia Bites 11 July: M&S, Ocado, Tesco, Premier Foods
A hectic day of grocery and retail coverage includes M&S’ AGM, Ocado’s first half results, Charles Wilson stepping back at Tesco and an activist investor upping its stake in Premier Foods.
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NewsPremier Foods activist investor Oasis doubles down in bid to out CEO
Oasis Management, which described the company’s performance under Darby as “zombie-like”, has increased its stake from 9.1% to 17.3% a week ahead of Premier’s AGM
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NewsOcado working on rapid delivery option to boost growth
Currently Ocado can deliver by 4pm on the same day for orders placed before 11.30am, while Amazon Prime Now can deliver in as little as one hour
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NewsModern Baker secures £100k for R&D into healthier bread
The £100k from Innovate UK means the startup has received more than £1m of government funding in the past 18 months
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NewsTesco UK boss Charles Wilson steps down following cancer diagnosis
During May and June, Wilson has been undergoing daily radiotherapy
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NewsOcado swings to first half loss amid increased investment
Ocado has posted a first half pre-tax loss of £9m as its investments capacity, technology and international expansion hit its bottom line.
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NewsMedia Bites 10 July: Premier Foods, Retail sales, Starbucks
One of the two shareholders trying to oust the chief executive of Premier Foods has trebled its stake in the British food manufacturer.