Finance news – Page 382
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NewsFortnum & Mason credits record sales to tea and hampers
Tea sales spiked by 18% and the luxury retailer’s hampers also enjoyed a strong year, with sales up by 15%
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NewsPots & Co raises £4.5m to invest in kitchens and drive growth
Pots & Co sells its ceramic dessert pots in Waitrose, Tesco, Sainsbury’s, Ocado, Whole Foods Market, Harrods, Booths and Selfridges
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NewsMorrisons vows to fight data leak compensation ruling
Retailer may be forced to make a large payout despite claiming it had done all it could to protect staff
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NewsTony Reed tells P&H colleagues and customers: 'I'm sorry'
Reed said he was ‘dreadfully sorry’ to all the stakeholders that he had been unable to save the wholesaler
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NewsGreencore steadies ship after year of 'building foundations'
Greencore’s share price had plunged by about 40% since March before releasing its annual financial results on Tuesday
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NewsCity snapshot: Pots & Co sells stake for £4.6m
Fast growing desserts supplier Pots & Co has sold a minority stake valuing the business at £36m. Plus a look at what else is in this week’s edition of The Grocer and all the latest news from the City.
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NewsMedia Bites 1 Dec: Fortnum & Mason, Greene King/Marston's, AB InBev
The boss of Fortnum & Mason, the 310-year-old upmarket grocer, has claimed that “brand Britain has been firmly damaged” by the uncertainty around Brexit
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NewsJJ Food Service looks to help P&H staff made redundant
Today’s Group has also expressed sympathy for P&H staff
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NewsFox's Biscuits MD Colin Smith is new CEO of Natures Way Foods
Smith is set to join the business from 16 April 2018, having previously held a range of senior roles at Müller
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NewsCMA dismisses Tesco-Booker merger impact on P&H collapse
Sources at the regulator stressed P&H had been facing financial issues for several years
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NewsMedia Bites 30 November: P&H, Costcutter, Britvic, Mars
The fallout from the collapse of Palmer & Harvey continues to dominate the papers.
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NewsCity snapshot: Greene King squeezed by fall in consumer confidence
Revenues increased 7.9% at the Greene King division that includes its off-trade activities but overall profits declined in the first half as under-pressure consumers stayed home more and ate out less. And, shares soar at rival brewer Marston’s after double-digit sales growth. Plus, consumer confidence falls for 20th month in a row; and interims from PayPoint.
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NewsMars buys stake in healthy snacks business Kind
Mars has invested in a minority stake in global snack bars manufacturer Kind as it seeks to boost its global healthy eating credentials
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NewsCostcutter agrees exclusive supply deal with the Co-op
Co-op is also looking to support Costcutter’s independent retailers in the short term
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NewsMedia Bites 29 November: Palmer & Harvey, Ocado, Unilever
Good news for Ocado, which finally announced it first international technology partnership, was overshadowed by the collapse of Palmer & Harvey last night.
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NewsCity snapshot: P&H collapse set to cause £160m dent in Imperial Brands profits
Tobacco supplier Imperial Brands is preparing to take a £160m hit to its profits this year after the collapse of wholesaler Palmer & Harvey last night. Plus, positive full-year results send Britvic shares soaring; and food price inflation eases in November.
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NewsP&H falls into administration
Customers have been informed there will be no deliveries tomorrow and rival wholesalers are gearing up to step in
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NewsGraze profits fall as it invests in US expansion
Revenues at Graze rose 8% to £76m last year but profits fell 40% as the snacks business invested heavily to establish a retail presence in the US.
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NewsMedia Bites 28 Nov: Unilever, Black Friday, Patisserie Holdings, Ocado
Unilever’s board is to delay a decision on whether to choose the UK or the Netherlands for its headquarters.
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NewsCity snapshot: Ocado signs international partnership with French hypermarket chain Casino
Ocado has signed an agreement with Group Casino to develop a delivery service in France. Plus soaring UK food to go sales boost annual revenues at Greencore, Unilever says plans are on track to deliver underlying sales growth of 3-5%, Cranswick sees strong first half volume growth and all the rest of the latest news from the City.