Finance news – Page 92
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NewsCity snapshot: THG’s sales slow as it agrees new lending package
THG remained in growth in the third quarter amid resilience in its beauty, health and wellness categories, though sales momentum slowed considerably in its third quarter
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NewsMedia Bites 25 October: Rishi Sunak, UK economy, Tesco, M&S
The front pages of this morning’s papers are dominated by news that Rishi Sunak has been crowned as the new prime minister.
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NewsHeura raises €20m in mission to be European plant-based category leader
Plant-based brand Heura has raised €20m (£17.4m) to continue its rapid growth across Europe.
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NewsFood producer profit warnings hit 21-year high as costs spiral
Profits warnings have spiked at UK-listed firms amid soaring input cost inflation, with pressure on food producers’ bottom lines the most severe for more than 20 years.
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NewsMedia Bites 24 October: Morrisons, staff shortages, Deliveroo
Morrisons owner CD&R is seeking to sell and lease back five supermarkets in what is thought to be the first such deal to be sanctioned in the Bradford-based grocer’s 123-year history
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NewsCity snapshot: consumer confidence slides to historic lows
Consumer confidence in the UK has plunged to record lows as households reigned in spending amid economic volatility and soaring inflation
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NewsPetfood subscription service Butternut Box sees sales leap
Online petfood player Butternut Box saw a 50%-plus leap in sales last year as it built on pandemic demand, though losses grew due to investment in growth
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NewsCity News: Naked Wines shares bounce back after admitting ‘mistakes’ in strategy
Announcing the result of its strategic review on Thursday, Naked said it had ‘reshaped’ its strategic plans
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NewsCity Snapshot: Deliveroo guides down sales growth as order numbers fall
Deliveroo has warned annual sales growth will come in at the lower end of previous guidance after order numbers fell in the third quarter.
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NewsMedia Bites 21 October: Liz Truss, inflation, interest rates, Naked Wines
Headlines are dominated by the resignation of Liz Truss and the state of the economy but the papers also find room for Naked Wines’ new strategy.
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NewsHunter & Gather targets retail expansion after smashing crowdfunding goal
Specialist condiments and oils start-up Hunter & Gather has raised more than £700k from the crowd, comfortably beating its target of £500k as it targets more mainstream retail listings.
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NewsCity snapshot: Naked Wines to pivot to profit focus after ‘mistakes’ chasing growth
Naked Wines has cut growth expectations and pledged to cut costs and staffing levels to prioritise the bottom line after admitting it has “made mistakes” in the pursuit of rapid growth
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NewsMedia Bites 20 October: Nestlé, P&G, inflation, cost-of-living crisis, Waitrose
The papers take in price hikes at Nestlé and P&G while also reporting on soaring inflation and the latest Waitrose annual food & drink report.
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NewsActivist investor Third Point pushes Colgate-Palmolive to sell off Hill’s Pet Nutrition
US activist investor Third Point has built an equity position in Colgate-Palmolive to push the US CPG giant to sell off its petcare business
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NewsGrower Fresca Group posts strong financial performance in latest accounts
The business saw turnover increase by 4.7% to £433.1m for the year to 29 April 2022, with operating profit up 26.3%
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NewsPlanet Organic to launch crowdfunding campaign to help fund expansion plan
The Grocer understands it is hoping to raise between £4m and £5m from investors to help reach 50-store target
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NewsDoisy & Dam rescued from administration by Nurture Brands in pre-pack deal
Nurture Brands has rescued Doisy & Dam from administration, continuing its buy-and-build strategy and expanding its sustainable plant-based consumer products offering into the confectionery category
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NewsMedia Bites 19 October: Asda, THG, strikes/shortages
Asda is opening is first convenience stores outside a petrol station as its new owners search for ways to expand the UK’s third largest supermarket chain and overtake Sainsbury’s
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NewsCity snapshot: Food prices hit 42-year high as inflation soars
Food and drink prices have soared to their highest levels in more than 40 years, pushing UK inflation back to highs seen over the summer, according to the latest figures. Plus, rising food prices help Nestlé increase organic sales in Q3, Just Eat Takeaway returns to profitability sooner than expected, and hedge fund Third Point reveals new position in Colgate-Palmolive and pushes for sale of its petcare business
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NewsThe Vegan Kind sold in administration pre-pack deal to current owner
The Vegan Kind has been bought out of administration by a business associated with its current owner following a downturn in trading and soaring costs