more results news & analysis – Page 61
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City Snapshot: Danone to cut global SKU count by up to 30%
French food group Danone is to cut its product range by up to 30% in a cost-cutting effort to return to profitable growth in 2021
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Mars blames virus outbreak for 2020 profit and sales slowdown
The coronavirus crisis exacerbated a tough 2020 for the UK arm of the company
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City snapshot: Naked Wines sales soar as consumer discover online wine
First-half revenues at Naked Wines have soared 80% to £157.1m as consumers flocked to online as the coronavirus outbreak hit the UK. Plus Vimto maker Nichols is considering redundancies across its operations as the Covid pandemic continues to hammer the soft drinks market; European supermarket group Ahold Delhaize acquires online US grocer FreshDirect, and a trading update from Finsbury Food Group.
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City snapshot: Delayed harvests hit revenues at Origin Enterprises
International agri-services group Origin Enterprises has experiences a double-digit revenue drop in the first quarter as delayed harvests hit revenues. Plus, Wynnstay upgrades full year profit expectations, British Land loses £730m and all the rest of the latest news from the City.
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City snapshot: Profits and sales rise at Imperial Tobacco as lockdowns boost tobacco consumption
Imperial Tobacco has posted a rise in annual sales and profits despite a collapse in duty-free travel sales as coronavirus lockdowns have boosted at home tobacco consumption.
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Salad supplier G’s records Covid-19 sales boost but margins tighten
Running to 2 May 2020, G’s Group’s annual accounts showed profitability narrowed despite increased sales
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City snapshot: Profits soar at EG Group despite fuel sales drop
EG Group, the new owner of Asda, has reported a surge in earnings in the third quarter despite a decline in revenues due to lower fuel sales.
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City snapshot: Lockdown and Covid costs drive WH Smith to £280m loss
WH Smith has fallen to a £280m loss as the due to the coronavirus-driven closure of stores and a slump in its travel business.
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City snapshot: Coca-Cola HBC puts fizz back in trading as countries emerge from lockdown
Coke bottler Coca-Cola HBC has reported “strongly” improved trading in the the third quarter as its markets across Europe and Africa reopened, but volumes cotinued to be affected by the ongoing coronavirus pandemic. Plus, grocery tech firm Eagle Eye has signed a five-year agreement with Australian retail chain Woolworths Group, and markets continued to rally yesterday on vaccine hopes.
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Premier Foods wins over consumers during lockdown as sales boom
Premier Foods boss Alex Whitehouse is confident the group can hold on to the wave of new shoppers flocking to its household favourites
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City snapshot: Premier Foods upgrades profits outlook after ‘exceptional’ half
Premier Foods has raised its profit expectations for the year after “exceptionally” strong first-half results as consumers flocked back to its stable of household brands during the coronavirus pandemic. Plus, the latest Kantar and Nielsen supermarket data shows no sign of rampant panic buying after the new lockdown was announced. And the latest BRC-KPMG retail sales report. Finally, a host of food and drink stocks rallied yesterday after the hopeful vaccine announcement by Pfizer.
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St Austell Brewery records £10m first-half loss
St Austell Brewery has plunged to a loss of £10m in the first half of 2020, despite record supermarket sales during the coronavirus pandemic. Total turnover collapsed by 90% when all 178 of its pubs and hotels were forced to close in March as the country went ...
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Kilo yoghurt pot sales offset decline at Lancashire Farm
The Rochdale-headquartered dairy said retail volumes were up as much as 40% in March and April
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CJ Lang reports 18% sales growth since April
The Scottish Spar wholesaler this week reported a 3.4% increase in sales for the year to 31 April
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Sainsbury’s to permanently close in-store counters and 420 Argos stores
Retailer has warned that 3,500 roles could be impacted by the changes
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City snapshot: Sainsbury’s sales soar more than expected as UK enters second lockdown
Sales and profits have surged at Sainsbury’s as the country continues to battle the coronavirus pandemic. The group also announced a strategy update, which included the closure of a further 420 Argos standalone stores. Plus, Tate & Lyle and Wincanton report first-half results.
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M&S ‘lobbying hard’ for Sunday trading extension
CEO Steve Rowe said it would give people more time to shop for food safely in the run-up to Christmas
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City snapshot: M&S plunges to £88m first half loss despite ‘strong’ food performance
M&S has fallen to a pre-tax loss of £87.6m in the first half, the group’s first loss in its near century as a public company, as a COVID-driven sales plunge in general merchandise negated ‘strong’ performance in its food division.
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City snapshot: Primark closures drive ABF sales and profits plunge despite grocery growth
Associated British Foods has posted a double-digit drop in annual sales and profits as the strong performance of its grocery businesses was unable to fully mitigate the closure of its Primark stores during lockdown.
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City snapshot: Primark owner ABF braces for huge sales impact of new English lockdown
Associated British Foods has warned a new national lockdown in England, along with renewed restrictions across Europe, would lead to a loss of almost £400m in sales at closed Primark stores. The CEO of the British Retail Consortium called the Prime Minister’s plans “the nightmare before Christmas” for retailers. Plus, Ocado upgrades profits outlook on more strong trading and announces proposed acquisitions of two US robotics firms for almost $300m.