Finance news – Page 97
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NewsCity snapshot: UK retail sales slump as consumers cut back spending
UK retail sales volumes slumped by 1.6% in August 2022, continuing a downward trend since summer 2021 as inflation and economic uncertainty hits consumer spending
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NewsMedia Bites 16 Sep: John Lewis Partnership, THG, Hilton Food Group
John Lewis needs a Christmas miracle to pay staff annual bonus after the department store racks up near £100m half-year loss
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NewsPeckwater Brands acquires Honest Food Company from Delivery Hero
Virtual restaurant brand operator Peckwater Brands has expanded its reach with the acquisition of the Honest Food Company from German delivery service Delivery Hero.
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NewsConvenience store sales soar 4.6% to £45.2bn
ACS 2022 Local Shop report, which launched today, revealed that figure is set to grow further to over £48bn by 2025
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NewsM&A activity grinds to halt as fmcg industry battles soaring inflation
Dealmaking activity in the food and drinks industry looks set to return to lows not seen since the 2008 financial crash as rampant inflation led to a collapse in M&A over the summer.
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NewsCity snapshot: John Lewis Partnership plunges to £92m first half loss amid Waitrose slowdown
John Lewis Partnership has plunged to a £92m first half loss amid falling Waitrose sales and a wider slowdown of consumer spending. Plus, Hilton Food Group warns on second half performance, THG takes margin hit amid inflationary pressure and all the rest of the latest news from the City
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NewsMedia Bites 15 September: Obesity strategy, inflation, Naked Wines, Ocado
Liz Truss has launched a review of England’s anti-obesity strategy as part of a wider deregulation initiative that the new prime minister hopes will kick-start economic growth.
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NewsTribe smashes new crowdfunding goal to supercharge growth
Plant-based energy bar challenger Tribe has returned to the crowd for a third time to help supercharge growth as demand for healthier snacking continues to rise.
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NewsNaked Wines shares plummet as wine retailer signals shift in strategy to deal with falling demand
Naked Wines shares have tanked after the DTC wine seller hinted at a change of strategy to deal with falling consumer demand and rising costs.
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NewsOrnua Foods reports strong financial results but warns of challenges ahead
Volume sales were still up 16% on pre-Covid levels, due to higher in-home eating and a continued desire for staple ingredients such as cheese and butter
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NewsMedia Bites 14 Sep: Ocado, Morrisons/Aldi, Fever-Tree
Grocery sales will fall at Ocado this year for the first time in the company’s history as customers cut back orders in response to rises in the cost of living
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NewsCity snapshot: UK inflation slows but food prices keep soaring
Food prices have risen at the fastest rate for more than 14 years, with the sector becoming the biggest contributor to UK inflation last month. Plus, Naked Wines shares crash following two unexpected business updates after hours last night, and C&C Group issues first-half trading update.
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NewsMcCain Foods acquires Scelta Products to fuel frozen appetiser growth
The deal closed on 8 September and represents a significant investment from McCain to grow and expand in the frozen vegetable appetiser space
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NewsRapid grocer Gopuff gives employees stake in business
The GoStock Equity Programme is rolling out in the UK as a ‘direct acknowledgement’ of its staff’s ‘continued efforts’
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NewsCity snapshot: Aldi overtakes Morrisons as grocery inflation soars to 12.4%
The UK’s big four grocers are no more as Aldi has overtaken Morrisons’ market share as private label sales continue to grow amid soaring inflation. Plus, Ocado returns to growth in Q3, FeverTree first half sales rise but shipping costs hit profits and all the rest of the latest news from the City.
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NewsMedia Bites 13 September: Queen Elizabeth, Asda, food shortages
Stores including John Lewis, Waitrose and Homebase have said they will shut on Monday 19 September, as a sign of respect to Queen Elizabeth II on her funeral.
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NewsMedia Bites 12 Sep: Wilko, FeverTree, UK economy
Discount retailer Wilko is unilaterally changing its schedule of rent payments to conserve cash, as high street chains buckle under cost pressures
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NewsCity Snapshot: MP Evans profits soar on record palm oil prices
Profits at palm oil producer MP Evans have soared as the price of the edible vegetable oil hit record highs as a result of the Ukraine war.
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NewsCity News: Associated British Foods issues gloomy forecast as Primark is hit by ‘market volatility’
Associated British Foods became one of the first major consumer multinationals to downgrade profit expectations this week, warning its Primark retail business would be hit by the strength of the US dollar and “significant market volatility”
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NewsS-Ventures seals deal for German free-from brand Lizza
The deal for the pasta and bread supplier is part of a wider tie-up with Lizza’s former owner Peter Cremer Holding