Finance news – Page 90
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NewsCity snapshot: Rising costs dent M&S food profits and slowing demand pushes Ocado Retail into the red
Profits have shrunk in Marks & Spencer’s food operation and its online joint venture with Ocado fell to a loss, with the group warning that market conditions would become even more challenging next year.
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NewsMedia Bites 9 November: ABF/Primark, avian flu, grocery inflation, Hilton Food Group
In a packed morning of fmcg and retail coverage, the papers report varying coverage of Associated British Foods latest annual results.
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NewsABF to push through further grocery price increases
Associated British Foods is planning further price hikes for its range of grocery brands to manage soaring inflation.
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NewsHilton Food Group warns of lower profits amid slow progress passing on inflation
Shares in Hilton Food Group have slumped following another profits warning
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NewsCity snapshot: Record high grocery inflation sends shoppers flocking to Aldi and Lidl
Grocery price inflation has hit a new record high resulting in cash-strapped households turning to the discounters and own-label ranges to manage stretched budgets, according to the latest Kantar figures. Plus, annual results from Associated British Foods, a trading update from Hilton Food Group, a Q3 update at Coca-Cola HBC, the latest monthly data on retail sales from BRC-KPMG and consumer spending from Barclaycard, and Britvic is searching for a new CFO.
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NewsMedia Bites 8 November: food poverty, Christmas, DS Smith
The big supermarkets need to step up support for low-income customers marooned in England’s “food deserts” to enable them to readily access healthy groceries during the cost of living crisis, according to the consumer group Which?.
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NewsJus-Rol takeover by Cérélia in doubt as CMA warns of higher prices
An in-depth investigation into the takeover of Jus-Rol by bakery giant Cérélia has concluded the deal could push up prices and lower quality in the home baking category.
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NewsPots & Co suffers 29% sales drop for 2021 due to pandemic
Newly filed accounts show sales fell 28.6% in 2021 from £13.9m to £9.9m
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NewsCity snapshot: Shoppers to spend less this Christmas amid cost-of-living crisis
Consumers in the UK are planning to cut back this Christmas as a result of a double whammy of soaring prices and having less money to spend, with the discounters set to benefit from cash-strapped households, according to new research.
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NewsMedia Bites 7 November: Waitrose, food prices, Iceland, avian flu
Waitrose has insisted its supermarkets are better-stocked than some of its rivals despite claims that a bungled IT project has left many of its stores with empty shelves.
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NewsButlers Farmhouse Cheeses acquires Parlick from Singletons
The acquisition has brought sheep’s milk cheese into the company’s portfolio
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NewsMet Foods warns of export ‘hell’ after almost £15,000-worth of stock lost at Calais
The business, which owns plant-based yoghurt brands Cocos Organic and Nush, has halted exports into the EU
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NewsCity snapshot: Retail footfall slips back in October
Retail footfall remains almost 12% down on pre-pandemic levels after slipping back further in October amid rising inflation and energy bills
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NewsAdministrators seek rescue for No1 Botanicals as Covid effect lingers over trading
Upmarket soft drinks supplier No1 Botanicals has fallen into administration following the Covid-driven collapse of out-of-home consumption
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NewsSainsbury’s commits to investment in price despite profit drop
Sainsbury’s has vowed to continue its investment in price despite soaring food price inflation eating into first-half profits
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NewsMedia Bites 4 Nov: Sainsbury’s, UK recession, Christmas ads
Sainsbury’s profits have tumbled as it kept down prices to compete with Aldi and Lidl
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NewsCity snapshot: Sainsbury’s sales bounce back to growth but profits slide on investment in price
Sainsbury’s has posted an improved second quarter sales performance, but profits were hit by investment in price amid soaring inflation
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NewsMedia Bites 3 Nov: British American Tobacco, Smurfit Kappa, Mars
A dark cloud hung over British American Tobacco’s shares after a broker’s downgrade stoked fears that the cigarette maker will take a more conservative approach to shareholder returns
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NewsCity snapshot: Food price inflation hits new record high of 11.6%
Food price inflation has soared to its highest level on record, according to the month BRC-Nielsen IQ Shop Price Index
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NewsNourished Communities receives £200k backing to underpin growth
North London community food hub and online grocer Nourished Communities has received a six-figure investment as it continues to roll out the business across the capital