Finance news – Page 551
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NewsMcColl's points to premium store "outperformance" despite sales dip
McColl’s strategy of concentrating on premium convenience stores has been vindicated, according to chief executive James Lancaster, despite a 2.3% fall in third quarter like-for-like sales.
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NewsCMA approves Booker’s acquisition of Londis and Budgens
Booker has received regulatory clearance from the UK’s Competition & Markets Authority for its acquisition of Musgrave Retail Partners GB, which runs the Londis and Budgens chains in Great Britain.
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NewsStrong food performance puts The Co-op back in the black
A “robust” trading performance from the food business has put The Co-operative Group back in the black, the business announced this morning
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NewsMedia Bites 3 Sep: MBK Partners to buy Tesco's South Korean arm
Tesco has named a consortium led by South Korean buyout group MBK Partners as the preferred bidder for its business in the country, according to reports.
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NewsCity snapshot: Booker gets green light for Londis and Budgens takeover
The Competition & Markets Authority has cleared Booker Group’s acquisition of Londis and Budgens as Booker’s 10-week like-for-like non-tobacco sales rise 0.5%.
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NewsTesco pays more for milk going into its own-label cheese
The retailer will pay suppliers 29.93 pence per litre until 28 February 2016
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NewsCity snapshot: Lenta issues bond to fund store expansion plans
UK-listed Russian supermarket chain Lenta is seeking to raise RUB5bn (£49m) via the bond markets to fund new store openings, Morrisons teeters on the edge of FTSE 100 demotion and the City is hit by more Chinese economic woes.
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NewsMedia Bites 2 Sep: Poundland, UK manufacturing, contactless payments
On a quiet day for grocery news, the major story is yesterday’s announcement by Poundland that it is launching an online service.
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NewsContactless payments tipped to soar as new £30 limit comes in
The average supermarket shop of £25.17 now falls below the contactless payment limit
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NewsArla’s first half revenues drop 3.8% as milk prices plunge
Arla Foods saw overall revenues drop 3.8% in the first six months of the year as declining global milk prices hit the dairy industry.
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NewsPoundland launches online trial
Poundland has announced the launch of an online retail offer in the UK.
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NewsApetito moves to Living Wage for its staff
The frozen food supplier said it would also seek accreditation as a Living Wage employer in future.
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NewsCity snapshot: Real Good Food gets extra £3.4m for Napier Brown
Real Good Food (RGD) has announced it has completed the disposal of its sugar business Napier Brown and received a further £3.4m from Tereos.
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NewsMedia Bites 1 Sep: Living wage, Tesco/Dunnhumby, Morrisons
Fashion and gift retailer Oliver Bonas has become the first high street chain in Britain to promise its staff an independently calculated living wage.
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NewsRelex Solutions expands supply chain service to States
Relex Solutions has teamed up with US private investment house Summit Partners
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NewsUnion urges workers to join Tesco's downgraded pension scheme
Usdaw claims the retailer is ”justified” in scrapping its final salary scheme
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NewsCity news: Grocery stocks and 'Black Monday'
Grocery and fmcg stocks didn’t escape the carnage of ‘Black Monday’
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NewsBooming Urban East sales boost buoyant Adelie
The booming food-to-go sector has helped drive annual revenues up 14.9% at HIG Capital-owned Adelie Food Group
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NewsOff-trade beer Q2 sales fall after strong 2014
Sales of beer through grocers and off-licenses fell 6.2% to 3.7 million barrels
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NewsMedia bites 28 Aug: Tesco/SFO, Homeplus, Pernod Ricard
News that former Tesco CEO Philip Clarke is to be interviewed under caution by the Serious Fraud Office is the major grocery story in the papers today.