Finance news – Page 39
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NewsCity News: Marks & Spencer hails massive growth but keeps forecast cautious
Marks & Spencer “blew the bloody doors off” with its first half results, enthused one analyst, but the strong outperformance didn’t lead to upgraded forecasts
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NewsInternational growth boosts sales but hits Butternut Box profits
Fast-growing fresh online dogfood operator Butternut Box almost doubled sales last year thanks to international expansion, but losses reached almost £25m as it continued to plough cash into growth
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NewsCity snapshot: Diageo warns over Latin America and Caribbean slowdown
Diageo has issued an unscheduled trading update, warning of weaker than expected performance in its Latin America and Caribbean business
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NewsMedia Bites 10 November: Booths, fuel prices, WH Smith
Booths has become the first in the UK to go back to fully-staffed checkouts, axing almost all its self-service tills
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NewsFood systems have a hidden cost of $10 trillion, says FAO
The biggest hidden costs are driven by unhealthy diets, the FAO said
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NewsCity snapshot: B&M posts double digit sales and profit growth
B&M Bargains owner B&M European Value Retail has posted a double-digit hike to sales and profits in the first half as organic growth and new store openings boosted performance. Plus updates from WH Smith, Tate & Lyle, Domino’s Pizza Group, Henkel and Chapel Down
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NewsMedia Bites 9 November: Marks & Spencer, Nestlé, Lidl
The lengthy turnaround of Marks & Spencer has begun to pay dividends with the retailer confirming its first shareholder payout in almost four years alongside a ’massive beat’ in its first-half profits
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NewsWine merchants Goedhuis & Co and Waddesdon Wine merge
Wine merchants Goedhuis & Co and Rothschild-backed Waddesdon Wine have agreed a merger to form a “formidable” combined player in the wine industry
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NewsMedia Bites 8 November: Food price inflation, ABF, Naked Wines
Food price inflation has dropped to single digits for the first time in a year and a half, as the cost of living crisis eases slightly
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NewsCity snapshot: Grocery price inflation falls to single digits for the first time in 16 months
Grocery price inflation hit single digits for the first time in 16 months in October as overall grocery growth continues to be driven by higher pricing. Plus Naked Wines issues profits warning as CEO departs and updates from ABF and Hilton Food Group
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NewsMedia Bites 7 November: Retail spending, Unilever, recycling
Source: GettyImages Growth in UK retail and consumer spending slowed last month to rates well below inflation, according to sector data that points to households cutting purchases ahead of the busiest shopping season of the year (Financial Times £). Retail sales slowed last month as people eased ...
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NewsCity snapshot: Kitwave CEO to step down as ‘positive momentum’ continues
Listed wholesaler Kitwave Group has announced its CEO Paul Young will retire at the company’s AGM in March 2024
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NewsMedia Bites 6 November: Grocery inflation, Klarna, Marks & Spencer
Supermarket bosses have said they do not expect food prices to fall next year, adding to evidence that inflation will persist through 2024
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NewsCity news: Sainsbury’s shares buoyed by market share gains
Sainsbury’s shares were buoyed this week by a higher than expected earnings projections as market share gains boosted sales in its first half results
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NewsMedia Bites 3 November: Sainsbury’s, Amazon, Beyond Meat, Heineken
Amazon has come under fire from the Federal Trade Commission regulator in the US
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NewsCity snapshot: Retail footfall slides as wet weather hits UK
UK retail footfall fell back in October as wet weather and the ongoing cost of living squeeze hit shopper numbers
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NewsPremier Foods makes further breakfast move with £34m Fuel10K deal
Premier Foods is set to take on the big players in the breakfast aisles following the £34m acquisition of protein-focused challenger brand Fuel10K.
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NewsBeyond Meat to axe staff in turnaround attempt
Embattled vegan brand Beyond Meat is planning to axe 19% of its non-production employees in a move to drastically reduce costs
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NewsAdministrators seeking buyer for The Crab Company Scotland
Administrators of premium Scottish shellfish processor The Crab Company are seeking a buyer for the business and assets.
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NewsSainsbury’s winning back market share from Lidl and Aldi ‘for the first time’
Sainsbury’s has made a ‘step change’ in its value perception over the last year, says CEO Simon Roberts