Finance news – Page 352
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NewsPoundworld set to close a third of its UK stores
The discounter is reported to be planning the closure of c100 of its 335 UK stores, putting up to 1,500 jobs at risk
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NewsWholesaler Nila fails with loss of 29 jobs
The £17m-sales wholesaler, based in Southall near Heathrow, was established in 1994
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NewsCity snapshot: Retail staff numbers drop 2.5% in the first quarter
The British Retail Consortium has published its retail employment monitor for the first quarter, which shows total hours fell 3.2%, while the total number employed dipped 2.5%. Plus, trading updates from voucher provider Park, quarterly results from GlaxoSmithKline and Dr Pepper Snapple and all the rest of the latest news from the City.
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NewsMedia Bites 26 April: Whitbread, Plastics Pact, DRS
The papers dissect Whitbread’s decision to spin off Costa Coffee
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NewsSports nutrition drives 4.8% first quarter growth for Glanbia
Global nutrition group Glanbia has reported 4.8% revenue growth in the first quarter of 2018 at constant currency with a solid performance from its nutrition interests, US cheeses and its joint ventures.
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NewsWhitbread announces Costa spin-off plan
Whitbread has announced its intention to demerge Costa following pressure from activist American investors.
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NewsMedia Bites 25 April:John Lewis Partnership, Walmart, Coca-Cola
A little less than two thirds of a key council of John Lewis Partnership employees backed a proposal last May to support chairman Sir Charlie Mayfield’s “leadership and the continuing progress of the partnership” in its first secret ballot in more than a decade.
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NewsCoca-Cola Co buoyed by Zero Sugar's double digit growth in first quarter
Increasing sales of healthier soft drinks buoyed Coca-Cola in the first quarter, as it recorded volume growth of 3%.
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NewsCity snapshot: CMA clears £137.5m Co-op deal with Nisa Retail
The Competition and Markets Authority (CMA) has ruled on the proposed £137.5m merger of The Co-operative Group with Nisa Retail, which it said did not give rise to competition concerns.
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NewsMedia Bites 24 April: Whitbread, The Co-op, Kimberly-Clark
The City will focus on the language Whitbread chief executive Alison Brittain uses tomorrow when she announces the Costa Coffee owners’ full-year results in light of activist investors Sachem Head’s and Elliott Capital Advisors’ pressure for a split
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NewsReal Good Food completes sale of ingredients arm to address losses
Cake and decorations specialist Real Good Food has sold its ingredients business Garrett’s as part of its cost-reduction efforts.
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NewsVaping business Supreme reveals stock market float plans
E-cigarette liquid specialist Supreme Exports has announced its intention to start trading on the London Stock Exchange
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NewsCo-op's Nisa takeover gets green light from the CMA
The Co-op now expects the deal to be fully completed early next month, after Competition & Markets Authority waved through the £137.5m takeover
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NewsEuro Garages enters US as Kroger forecourts deal goes through
The forecourt operator struck a £2.2bn deal with retail giant Kroger to acquire its store network in February
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NewsCity snapshot: English wine exports help Chapel Down sales jump 15%
Chapel Down has reported year-on year sales up 15% from £10.2m to £11.8m and continuing EBITDA up 29% from £750,000 to £968,000. Plus, YO! Sushi has bought Taiko Foods, a supplier of sushi products to the supermarket sector, as part of its plan to create a global multi-format and multi brand sushi business and all the rest of the latest news from the City.
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NewsMedia Bites 23 April: Yo! Sushi/Taiko Foods, Young’s Seafood, Consumer confidence
Restaurant group Yo! Sushi is poised to announce the purchase of Taiko Foods, a supplier of suishi, Asian food-to-go and dim sum to UK retailers, including Waitrose and Costco.
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NewsReckitt Benckiser tumbles on weak first quarter growth
Household goods giant Reckitt Benckiser (RB) fell sharply as modest first quarter sales growth failed to meet analysts’ estimates.
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NewsConcerns over pricing pressures in major Unilever markets
A €6bn gift to investors and better than expected organic growth were not enough to butter up Unilever investors
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NewsBrakes sales rise on Sysco takeover but ebit profits fall 30%
Profits were down 30% pro rata as the business comes under pressure from rising costs and multiple changes in its leadership
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NewsCity snapshot: Reckitt Benckiser like-for-likes up 2% in first quarter
FTSE 100 consumer goods giant Reckitt Benckiser has posted 2% like-for-like sales growht in the first three months of the year, despite weak sales of its Scholl and Dettol brands. Plus, Brakes’ first financial accounts under the ownership of US food distribution giant Sysco show a 30% fall in pro-rata operating profits and all the rest of the latest news from the City.