Finance news – Page 377
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NewsAldi UK sales up by 15% in December as shoppers switch from 'expensive' rivals
A surge in demand for its premium range helped the discounter to a record Christmas period
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NewsCo-op 'doubled sales growth' over Christmas
It had been the group’s “best Christmas ever”, CEO Steve Murrells told colleagues in an internal memo
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NewsMedia Bites 4 January: Poundland, Co-op, Refresco/Cott, Tesco
A new £180m loan agreement for Poundland as it distances itself from embattled South African parent company Steinhoff generates plenty of coverage today. As does a strong Christmas for Co-op and the CMA’s investigation of the Refresco takeover of Cott.
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NewsCity snapshot: Record Christmas for Aldi as shoppers switch from 'expensive' rivals
A surge in demand for its premium range has helped Aldi to a record Christmas as year-on-year UK sales shot up by more than 15% during December.
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NewsPoundland shrugs off scandal to deliver successful Christmas
Discounter reported a like-for-like sales increase of 5.6% for the 12 weeks to 24 December…
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NewsPoundland owner Pepkor Europe secures new £180m loan facility
The Grocer first revealed that trade credit insurer Atradius had reduced its cover for the discount retailer in mid-December in the wake of the Steinhoff accounting scandal
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NewsPhilip Morris launches campaign for a 'smoke-free future'
Newspaper ads yesterday publicised the company’s New Year’s resolution to ‘give up cigarettes’, as part of PMI’s plans to shift smokers away from traditional cigarettes
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NewsRefresco pledges to remedy CMA concerns over Cott deal
The sticking point is both companies’ supply of juice drinks using a special aseptic production process
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NewsCraft brand Durham Distillery to expand into whisky production
The business has received £250k funding from Finance Durham to move to a new city centre site…
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NewsCity snapshot: Next’s Christmas sales rise but in-store slump points to tough retail conditions
Next has posted better than expected trading in the run-up to Christmas, but a 6.1% drop in in-store sales points to a festive trading difficulties in non-food for traditional retailers. The FTSE opens the year on the back foot as fmcg giants fall back and the rest of the latest news from the City.
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NewsMedia Bites 3 Jan: Tesco, M&S, Steinhoff, Weight Watchers
Tesco’s former UK food boss did not commit fraud but in fact helped to uncover accounting irregularities his lawyer told a court yesterday.
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NewsPrinces profits hit by cost hikes and exchange rate pressure
Pre-tax profits excluding impairment charges were £28.7m, down from £54.4m in 2016
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NewsMotor Fuel Group buys 14 forecourt sites from Golden Cross
The deal means Britain’s second largest independent forecourt retailer now operates 439 petrol stations…
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NewsM&S sells Hong Kong and Macau retail business to Al-Futtaim
The sale comes after M&S’s strategic review of its international business in November 2016
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NewsCompass Group CEO Richard Cousins dies in plane crash
Dominic Blakemore takes over at Compass following Australia tragedy
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NewsCity Snapshot: The Co-op plans 100 store openings in 2018
The Co-op Group has announced plans to open 100 food stores across the UK in 2018 to create an estimated 1,600 new jobs. Plus, tributes for Compass Group CEO Richard Cousins after his tragic death, Marks & Spencer sells retail business in Hong Kong and Macau and all the latest news from the City.
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NewsMedia Bites 2 Jan: Patisserie Valerie/Bread Holdings, Richard Cousins, Co-op, P&H
Patisserie Valerie is preparing to tap investors for tens of millions of pounds as it bakes a takeover bid for the company that owns Gail’s, the chain of artisan cafes.
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NewsArla Foods strengthens presence in Southeast Asia with ICBP joint venture
Arla Foods is set to strengthen its business in Southeast Asia by establishing a joint venture with PT Indofood CBP Sukses Makmur Tbk (ICBP), a major fast-moving consumer goods companies and dairy player in Indonesia.
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NewsBooths sees losses balloon to £13.5m as it struggles in competitive market
Sales at the retailer, which reportedly hired bankers at Rothschild in November to explore a potential sale, sank another 4.3% to £263.4m in the year ended 1 April 2017.
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NewsSainsbury's gears up for £160m 'frenzied Friday' boost
The supermarket estimates 5.2 million customers will visit a Sainsbury’s store today to stock up for Christmas