Finance news – Page 40
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NewsCity snapshot: Sainsbury’s ups profit guidance following market share gains
Sainsbury’s has said it expects to hit the upper end of previous profit guidance after making strong market share gains in the first half as it put food “firmly at the heart” of the business
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NewsMedia Bites 2 November: M&S, food waste, CBD
Marks & Spencer has kicked off the Christmas ads season showcasing glamour and featuring celebrities such as Sophie Ellis-Bextor and Tan France
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NewsFmcg profit warnings slow sharply in Q3
Profit warnings at retailers and suppliers have slowed significantly ahead of the golden quarter, according to the latest research
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NewsRaynor Foods shifts to employee ownership model
Family run food-to-go supplier Raynor Foods has transformed its ownership structure and transferred the entire shareholding to its 300 employees
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NewsSeep seeking to clean up household category with £750k fundraise
Founder Laura Harnett launched the eco brand in 2020 with a mission to prevent one billion plastic cleaning tools from entering landfill by 2030
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NewsMedia Bites 1 November: Carlsberg, AB InBev, Marks & Spencer
Carlsberg’s chief executive has warned of weak consumer sentiment and denounced Moscow’s seizure of its Russian subsidiary
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NewsCity snapshot: Volumes fall at Coca-Cola Europacific Partners as bottler focuses on revenues and margin
Coca-Cola Europacific Partners has seen sales grow ahead of volumes in the third quarter as a result of mixed weather across Europe, higher prices and lapping strong comparatives last year. Plus, Heineken appoints new European president and Glanbia upgrades profit expectations.
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NewsCity Snapshot: Shop price inflation falls to 14 month low
Shop price annual inflation has eased to its lowest level since August 2022, falling to 5.2% in October from 6.2% in September. Plus trading updates from AB InBev, Carlsberg and Coca-Cola HBC.
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NewsMedia Bites 31 October: Unilever, Premier Foods, McDonald’s
Unilever has frozen the salary of its new chief executive for the next two years after shareholders protested over its executive pay.
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NewsDrop Bear Beer Co purchases first bricks-and-mortar brewery
The brewer will be able to produce up to 25 million cans of alcohol-free beer a year at the site
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NewsRodrigo Maza appointed Naked Wines UK managing director
Maza will succeed James Crawford, who will now turn his focus entirely to the role of chief financial officer of Naked Wines Group
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NewsMedia Bites 30 October: The Body Shop, Sainsbury’s, Pubs
The private equity investor that owns Footasylum is in pole position to buy The Body Shop
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NewsCity snapshot: Premier Foods snaps up Fuel10K in £34m deal
Premier Foods has expanded its presence in the breakfast category with the £34m acquisition of protein brand Fuel10K
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NewsCity News: Reckitt Benckiser’s £1bn share buyback fails to win over City
A £1bn share buyback was not enough to placate Reckitt Benckiser investors this week, as the consumer giant’s shares slid back on weaker-than-expected sales volumes
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NewsUnilever boss unveils strategy ‘action plan’ as business sells Dollar Shave Club
Unilever this week kicked off a strategy reset to focus on its core brands and sell off the Dollar Shave Club
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NewsJohn West hit by 78% profits decline as shoppers trade down
John West profits have sunk by 78% as cash-strapped shoppers flocked to discounters and turned to own label to combat inflation.
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NewsCity snapshot: Rémy Cointreau hit by sharp US sales slowdown
French spirit maker Rémy Cointreau has slashed growth expectations after posting a double-digit drop in organic sales in its second quarter amid a slowdown of sales in the US
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NewsMedia Bites 27 October: Unilever, Tesco, Wilko
Unilever’s new chief executive said that the idea of corporate purpose could be an ‘unwelcome distraction’ for some brands
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NewsOatsu hits funding target as it prepares for major listings
Healthy breakfast start-up Oatsu has surpassed a £100k crowdfunding target as it prepares to launch overnight oats in Holland & Barrett and Co-op.
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NewsCity snapshot: Unilever sales growth slows as volumes remain in decline
Sales growth at Unilever slowed to 5.2% in the third quarter as pricing eased and volumes remained in decline. Plus trading updates from Danone, DS Smith and C&C Group