latest – Page 53
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NewsCity Snapshot: COVID drives double-digit quarterly sales slump at Boots
The coronavirus outbreak has continued to hit sales at high street pharmacy retailers Boots as growing online and pharmacy revenues have failed to mitigate a dramatic drop in footfall.
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NewsCity News: McColl’s sales fail to flow to bottom line
The chain’s total sales for the 53 weeks to 29 November were up 3.2% to £1.26bn
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NewsCity Snapshot: Margins improve at Compass Group despite revenue slump
Compass has announced a continued improvement in profit margins despite an ongoing slump in revenues as the coronavirus outbreak continues to hit sales across its business.
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NewsCovid demand drives General Mills sales even higher
The US-headquartered group, which owns brands such as Cheerios, Nature Valley, Häagen-Dazs, Betty Crocker and Old El Paso, reported an 8% jump in net sales
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NewsCity Snapshot: McColl’s profits slide despite Covid sales boom
Strong customer demand during the coronavirus pandemic led to double-digit like-for-like sales growth at McColl’s last year, but consumer shift to lower margin products and investment in price hit profits
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NewsCity Snapshot: Ocado first quarter sales surge 40% amid ‘permanent shift’ to online grocery
Ocado has seen a 40% surge in sales over Christmas and the New Year amid a “permanent shift” from physical to online grocery shopping. Plus, FeverTree margins tighten as off-trade shift limits annual sales drop to 3% and all the rest of the latest news from the City.
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NewsCovid puts an end to strong growth at Trewithen Dairy
Latest accounts for parent company Cornish Farm Dairy, for the year ended 30 April 2020, showed revenues declined 6% to £52.1m as the first national lockdown led to a collapse of its foodservice, hospitality and tourism business at the tail end of the accounting period.
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NewsCity snapshot: SSP Group launches £475m rights issue as it readies for slow Covid recovery
Upper Crust owner SSP Group is planning to raise £475m from shareholders in a rights issue to strengthen the balance sheet and prepare for a recovery from the coronavirus pandemic as lockdown restrictions begin to lift. Plus, Dutch dairy company FrieslandCampina agrees jv with Egyptian cheese maker to focus on the exports to Africa and the Middle East. And Science in Sport reports full-year results.
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NewsFarmison profits from surge in online shopping in best-ever year
Revenues more than doubled to £12.1m in the nine months to 31 December 2020, compared to £5.4m in the whole of 2019.
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NewsCity snapshot: Property giant Hammerson posts £1.7bn loss amid coronavirus slump
The UK’s biggest shopping centre owner Hammerson has posted a £1.7bn annual loss as the coronavirus pandemic has slashed the value of its portfolio and rental income plummeted.
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NewsWyke Farms reports record turnover
The cheesemaker saw sales top £107m in the 12 months to 31 March
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NewsCovid profits plunge is a ‘badge of honour’ says Morrisons CEO Potts
Morrisons was hit by £290m of Covid-related costs and almost £40m to restructure its online business
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NewsMorrisons’ profits slump amid £290m of COVID costs
Morrisons has reported an 8.6% rise in annual sales and “strong momemtum” depsite a profits slump due to COVID costs, while John Lewis Partnership posts a £517m loss amid restructuring costs and writedowns.
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NewsMash Direct grows sales as shoppers look for health and convenience in lockdown
Mash Direct has continued to grow rapidly outside its domestic Northern Ireland market as consumers looking for a blend of health and convenience throughout the coronavirus pandemic turned to its range of prepared veg.
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NewsCity snapshot: ‘Exceptional’ year for Just Eat as revenues soar during Covid pandemic
The world’s largest food delivery company saw orders accelerate for three quarters in a row in 2020, processing 588 million orders in the year, a 42% rise compared with 2019. Plus, Russian grocery retailer X5 Retail Group launches biometric tech to ’pay with a glance’ at its supermarkets in a move CEO Igor Shekhterman said would soon be universal.
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NewsMackie’s of Scotland performs well during pandemic as shoppers turn to home comforts of ice cream
Mackie’s of Scotland has held revenues at record levels despite the challenges presented by the coronavirus pandemic as shoppers treated themselves to ice cream and chocolate during lockdown.
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NewsThanet Earth heralds ‘more positive’ year after poor 2019-20 financial results
According to its latest results, it saw turnover decline and losses widen – a performance it says it has since turned around
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NewsCity snapshot: B&M hikes profits expectations after strong lockdown sales
The owner of B&M Bargains has hiked its full year profit expectations after sales continued to boom during the second lockdown period this year. Plus, Marston’s asks bondholders to relax financial covenants, Wynnstay acquisitions, Supermarket Income REIT raises more cash to buy supermarkets and all the rest of the latest news from the City
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NewsPukka Pies sets out £4.5m bakery investment as it eyes further growth
The pie brand, which took home the Brand of the Year title the 2020 Grocer Gold Awards, plans to enhance manufacturing capacity and capability at the Syston factory as it gears up for future growth.
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NewsCity snapshot: Profits evaporate at Vimto owner Nichols in face of Covid crisis
Vimto maker Nichols has experienced a dramatic slump in sales and profits as it faced the “unequalled challenges” presented by the Covid pandemic. Plus, fierce competition keeps food inflation in check, according to the latest BRC-Nielsen shop price index for February. There are also trading updates from DS Smith and Smiths News.