Finance news – Page 372
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NewsCo-op to invest £50m in raft of in-store discounts
The retailer has slashed 600 prices by an average of 14%.The move follows plans to open 100 new convenience stores and to revamp a further 150 of its outlets
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NewsYoung's appoints Duncan McIntyre group operations director
McIntyre will begin his role on 12 March replacing Steve Lidgett, who retires in April
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NewsMedia Bites 24 January: Palmer & Harvey, Sainsbury's, P&G, SSP, Carrefour
The Guardian has followed up The Grocer’s scoop that Palmer & Harvey collapsed with debts of more than £700m. Plus, the latest proposed job cuts at Sainsbury’s fall under the media glare.
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NewsCity snapshot: WH Smith travel division fuels Christmas growth as high street continues to decline
The WH Smith travel division continued to grow from strength to strength over the Christmas period as sales at the retailer’s high street stores continued to decline. Plus, Hotel Chocolat records 15% sales growth over Christmas; and Fever-Tree once again expects full-year profits to be “comfortably” ahead of expectations after another year of soaring sales.
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NewsAmazon opens its much-anticipated Amazon Go checkout-free store
The store sells ready-to-eat breakfast, lunch, dinner and snacks made by its chefs and local kitchens and bakeries
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NewsTrewithen Dairy boosted by new contracts and expansion
Turnover rises to £32m according to supplier’s accounts, while branded sales top £11m
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NewsPalmer & Harvey creditors owed more than £700m, PwC report reveals
Creditors of Palmer & Harvey are facing losses of more than £700m following the collapse of the wholesaler late last year, a report by administrator PwC, seen by The Grocer, has revealed.
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NewsMD Scott Malcolm to exit Scottish Spar wholesaler CJ Lang
Malcolm is relinquishing his role as MD after nine years to pursue other interests
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NewsTesco scrapping over 1,700 management jobs
Tesco is doing away with the roles of people manager and compliance manager in its large stores and fulfilment centres
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NewsBacardi snaps up posh tequila Patrón in $5.1bn deal
Bacardi said the deal would make it ‘the number one spirits player in the super-premium segment in the US’…
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NewsCandy Kittens sells stake to German confectionery giant Katjes
Candy Kittens, the UK sweets startup co-founded by Made in Chelsea star Jamie Laing, has sold a “significant” minority stake to German confectionery company Katjes Fassin.
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NewsCity snapshot: SSP Group’s revenues up 13.5% in first quarter
Travel food specialist SSP Group has increased sales by 13.5% in the first quarter, driven by like-for-like growth, contract wins and global expansion. Bacardi buys Patrón Spirits for $5.1bn, UK snow hits Christmas trading at Marston’s, Ocado’s shares surge 28% on Canada tie-up and all the rest of the latest news on a busy morning in the City
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NewsMedia Bites 23 Jan: Tesco, Ocado, Nestlé
“Managers in firing line as Tesco jobs go” is the leading story in this morning’s edition of The Times.
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NewsSebastian James appointed senior VP and MD of Boots
James, who has held the top job at Dixons Carphone since 2014, will take on his new role at Boots in September
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NewsMedia Bites 22 Jan: Poundland, Amazon, Fevertree
Private equity firms have begun circling Poundland amid expectations that its scandal-ridden South African owner could be forced to sell the high street chain.
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NewsCity snapshot: Ocado signs Canada supply deal with Sobeys
Ocado has signed an agreement with Canada’s second largest food retailer Sobeys to develop an online grocery business using its Smart Platform technology.
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NewsSHS Group tipped to be closing in on Meridian
Nut butter brand Meridian is close to a £50m takeover, with SHS Group poised to win the highly competitive auction.
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NewsPremier Foods boosted by non-branded, discounter sales
More evidence has emerged that Premier is tapping into discounter growth to boost sales…
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NewsSymington's recovery on track following drive to reduce costs
Symington’s is back into the black as a turnaround strategy has started to yield results…
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NewsJudith McKenna set to helm Walmart's international division
McKenna would take over from current international boss and fellow Brit Dave Cheesewright, said Bloomberg