Finance news – Page 493
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NewsMedia Bites: Tesco, Sainsbury's/Morrisons, Samworth Brothers
Tesco could report a second consecutive quarter of sales growth for the first time in more than five years, fuelling hopes of a sustained fightback against discount rivals.
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NewsExporters on alert in build-up to Brexit vote
Food and drink exporters have expressed grave concerns about the impact a Brexit would have on overseas business
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NewsTesco sells Dobbies for £217m in cash
Sale comes a week after the supermarket agreed to offload the Giraffe restaurant chain to Ranjit Boparan
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NewsPoundland shares rocket as Steinhoff mulls takeover bid
Steinhoff is back shopping for a European retailer after it announced it was mulling a takeover bid for Poundland
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NewsMedia Bites 17 June: Poundland, Unilever, high street, US sugar tax
Poundland profits crash amid interest from Steinhoff; Unilever warns its staff that Brexit could harm the business; shoppers shrugged off Brexit fears in May as high street sales beat forecasts; and Philadelphia becomes the first large US city to introduce a sugar tax on fizzy drinks.
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NewsWH Smith switches food to go range from Urban Eat to Munch
The Munch brand, rolling into WH Smith exclusively this week, comprises more than 70 products
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NewsJohn Demetriou made head of category at Kettle Foods
Demetriou was most recently category buying manager for toiletries at Tesco
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NewsMedia Bites 16 June: Poundland, BHS
The papers are dominated this morning by the appearance of Sir Philip Green before MPs answering questions on the BHS collapse, but Steinhoff’s approach for Poundland also gets a look in.
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NewsCity snapshot: Poundland profits tumble as Steinhoff gets set to pounce
Pre-tax profits slumped 84% at Poundland last year as the problems surrounding the acquisition of 99p Stores took their toll
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NewsTesco to take 50 more stores into twilight zone
Tesco said 2,000 staff had entered a 45-day consultation period over the changes
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NewsScottish frozen meals delivery business acquired by Apetito
The owner of frozen meal delivery business Wiltshire Farm Foods has acquired one of the business’ largest franchisees WFF Crieff.
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NewsSteinhoff eyes Poundland bid
South African retail group Steinhoff has announced this morning it is considering making an offer for under-pressure UK discount retailer Poundland.
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NewsMy Local appoints KPMG to review options
It is understood the options KPMG has been asked to consider include placing My Local into administration
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NewsCity snapshot: Leaving the EU will hit UK retail sales by 6%, report warns
The report says UK retail sales will reach £396.3bn by 2020 from their current level of £345.4bn without Brexit
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NewsMedia Bites 15 June: My Local, Ocado, Sainsbury's
My Local faces an uncertain future after its owners called in emergency help to try to save the business
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NewsBrexit could cost UK retailers £24bn by 2020
The economic shock caused by Brexit could drive UK retail sales 6% lower by 2020, according to a new report published today by the Economist Intelligence Unit.
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NewsGlendale Foods rises from the flames to hit record heights
Glendale Foods has increased sales more than 40% to record levels after it fully restored the factory following a “devastating” fire in 2012.
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NewsDanone ups 2016 guidance as cost efficiencies bite
Danone has upgraded its full-year profits expectations after seeing faster than expected benefits from cost efficiencies and progress in its European dairy business.
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NewsUK black market cigarette consumption rising says KPMG
During 2015, black market cigarette consumption increased by over 6% to reach 6.7 billion