latest – Page 34
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NewsCity Snapshot: Grocery price inflation accelerates at decade-high pace
Food prices accelerated at their fastest rate in more than decade as retail trade body the BRC warns inflation is set “to get worse before it gets better”.
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NewsIllycaffè sales rebound to pre-pandemic levels as out of home consumption returns
Italian coffee giant Illycaffè posted consolidated revenue for 2021 of €500m, a 17.4% increase compared to 2020
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NewsCity snapshot: B&M names Alex Russo as new boss as sales fall back
B&M Bargains owner B&M European Value Retail has named current CFO and former Asda exec Alex Russo as CEO when current boss Simon Arora steps down as its annual results show an accelerating drop in sales. Plus, Unilever appoints activist investor Nelson Peltz to its board and all the rest of the latest news from the City.
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NewsCity News: M&S defies inflationary gloom with strong track record from Steve Rowe
M&S shook off inflationary gloom this week as shares rose healthily despite the retailer becoming the latest to warn profits in the coming year would take a hit as the cost of living crisis intensified.
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NewsAsda warns of ‘stark’ situation facing shoppers as sales fall 9% year on year
The supermarket blamed the fall on the exceptional sales of Q1 last year
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NewsBakkavor worries investors on warning inflation may dent volumes
Bakkavor shares fell today after the prepared foods maker warned further price hikes could hurt its volumes as the group continues to recover from the pandemic
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NewsCity Snapshot: M&S profits to shrink as inflation squeezes spending power of households
Marks & Spencer has warned its profits will take a hit this year as the squeeze on household finances gets tighter. Plus, Ocado Retail sales fall as shoppers cut down on spending; annual results from Pets at Home; and Bakkavor worries about volumes as more price hikes loom.
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NewsEG Group profits climb as sales soar 25%
Profits have leapt higher at forecourt giant EG Group as a growing foodservice business and soaring prices at the pumps help fuel a 25% jump in first-quarter revenues.
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NewsGreencore battles latest wave of inflation as recovery in food-to-go gathers momentum
Sandwich maker Greencore is battling to claw back soaring costs as input inflation accelerated into double digits while a recovery in its food-to-go markets gathered pace.
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NewsSSP shares soar as Upper Crust owner shows signs of recovery
Shares at SSP Group soared higher today as the markets welcomed hopes of a sustained recovery at the food-to-go group following the pandemic
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NewsCranswick sales top £2bn as it slams ‘muted’ government response to pig crisis
The pig and poultry giant saw revenues rise by 5.8% in the 12 months to 26 March
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NewsCity Snapshot: Lidl and Aldi grab more share as grocery inflation hits 13-year high
Food price inflation has hit its highest level for 13 years, with Lidl and Aldi stealing more market share from rivals, according to Kantar. Plus, annual results from Cranswick and interims from Greencore and SSP Group, with a trading statement from Hilton Food Group.
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NewsCity News: Premier Foods shares surge on beefed-up dividend and boosted profits
The Bisto and Paxo owner’s trading profits for the year to 2 April of £148.3m beat expectations
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NewsMindful Chef reports surge in growth amid healthy diet boom
Surging grocery growth and expansion into ready meals saw meal kit player Mindful Chef maintain strong growth last year on top of a record-breaking 2020
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NewsFarmfoods holds on to pandemic-fuelled sales boom in 2021
Turnover was down 2.2% in 2021 compared with the previous year but still 32% up on a two-year basis
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NewsCity snapshot: Fever-Tree makes ‘sold’ start to 2022 despite cost pressures
Fever-Tree has said it has made a “solid” start to its financial year, trading in-line with expectations despite logistics disruption and inflationary pressures.
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NewsCity Snapshot: Premier Foods to hike prices higher as Mr Kipling helps group beat profit forecasts
Premier Foods beats profit expectations for the year but warns of more price hikes. Plus, UK inflation hits 40-year high of 9% in April; Virgin Wines strikes strategic partnerships with Great Western Railway and Currys; and Marston’s returns to profit as pub trading returns to normal.
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NewsCity snapshot: Out-of-home rebound boosts Britvic’s sales and profits
Britvic has posted a double digit rise in sales and profits as both in and out-of-home channels grew and immediate consumption bounced back to pre-Covid levels. Plus results from C&C Group and Imperial Brands.
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NewsCity Snapshot: Greggs recovery continues but cost pressures set to increase
A recovery at Greggs has continued in the first quarter as like-for-like sales jumped 27.4% but the high street bakery chain warned of increasing cost pressures.
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NewsCompass Group is ‘a stock you have to own’ as new business opportunities open up
Compass Group shares were hammered during the pandemic, but the catering giant was back on the front foot this week