Finance news – Page 368
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NewsMedia Bites 8 February: Carlsberg, Poundland, Tesco
It is a quiet morning in the papers in terms of grocery and fmcg news, with Carlsberg in the spotlight following its annual results and Poundland gaining publicity after its Christmas advert was banned by the ASA.
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NewsArla swoops for Yeo Valley dairy business to tap organic boom
Farmer-owned Arla Foods has agreed to acquire the Yeo Valley dairy business as it seeks to cash in on growing consumer demand for organic produce.
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NewsBrexit 'could see Brits face post war-style diets' Lords told
Lords committee warned by FDF that the British had not voted to go back to the “dark times” of rationing in the 1950s
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NewsSales of organic food & drink hit record highs
Spend was up 6% to £2.2bnn. but supermarkets are missing out with £1 in every £7 spent on organic went to independent retailers
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NewsMedia Bites 7 February: Ocado, Tesco, inflation
Ocado was firmly in focus today after it slipped back into the red, warned of a squeeze on futures profits and revealed plans for a £150m share placing, while the abandoned Tesco trial also merited plenty of column inches. Tesco is also facing the largest ever equal pay challenge in UK history.
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NewsRussian woes hit Carlsberg profits in 2017
Full-year profits at Carlsberg took a hit as sales and volumes were held back by a change in the law in Russia restricting the size of plastic beer bottles.
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NewsChilled petfood a hit in Tesco as Freshpet sales pass £1.7m
A recipe for small dogs has been added in response to the rising popularity of diminutive breeds such as dachshund
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NewsBrexit-related labour crisis inquiry re-opened
Efra Committee will assess whether labour shortages in food production has ‘improved or deteriorated’ during the past year
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NewsFree’ist snack brand targets UK with £250k investment
Despite being based in Northern Ireland, the majority of Free’ist’s distribution is in the Republic
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NewsTesco fraud trial discontinued pending re-trial
The jury has been discharged following the heart attack of one of the former executives
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NewsGovernment shelves 25-year food and farming plan
Defra cited Brexit-based priorities for kicking the plan into the long grass, adding some of its objectives would be included in the upcoming Agriculture Bill, due in the spring
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NewsHalewood buys Cornish rum brand Dead Man's Fingers
The blend of Caribbean rums has an “exceptionally smooth taste” according to the brand’s founder Neythen Hayes…
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NewsQuorn sales hit record levels as meat-free demand soars
Soaring demand for a meat-free diet has fuelled a 16% jump in sales at Quorn in 2017 to a record £205m. The business said the rise in vegan and flexitarian lifestyles helped drive the global growth.
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NewsCity snapshot: Ocado slips back into the red as cost of technology weighs on earnings
Ocado has reported a £0.5m 52-week loss despite double digit revenue growth as the cost of funding expansion and new technology hit the bottom line. Inflation drives strong grocery sales according to latest market share figures and global market slump hammers UK shares.
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NewsMedia Bites 6 Feb: Charles Wilson, Euro Garages, Waitrose
Cash and carry king lined up for Tesco top job, writes The Daily Mail after Charles Wilson was named Tesco’s UK & Ireland chief.
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NewsEuro Garages reveals US ambition with $2.2bn acquisition of Kroger convenience store network
Petrol forecourt operator Euro Garages has snapped up the 800 strong convenience store network of retail giant Kroger for $2.2bn to gain access to the world’s largest fuel convenience market for the first time.
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NewsMedia Bites 5 Feb: Sainsbury's/EuroGarages, Steinhoff, Keurig/Dr Pepper
Sainsbury’s is severing its ties with petrol station operator EuroGarages, culling a trial of stores on forecourts, according to The Sunday Telegraph.
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NewsCity snapshot: Charles Wilson to replace Matt Davies as Tesco’s UK & ROI CEO
Tesco has announced that upon completion of the merger with Booker, the wholesaler’s boss Charles Wilson will be appointed as CEO of its retail and wholesale operations in the UK and Republic of Ireland.
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NewsPoppy's Picnic turns down Dragon and kicks off crowdfunder
Raw petfood brand Poppy’s Picnic has shunned an offer secured on the BBC’s Dragons’ Den to raise over £350k in crowdfunding.
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NewsRaisio mulls feed business sale and focus on healthy eating
The group announced this week it was considering a sale of its cattle and fish feed businesses