Alec Mattinson
Alec leads The Grocer’s expanding coverage of all things finance-related. Follow Alec on Twitter: @AlecMattinson
Contact info
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- 01293 610512
- Email:
- alec.mattinson@thegrocer.co.uk
NewsRatings agency Fitch downgrades M&S to junk status
Global ratings agency Fitch has downgraded Marks & Spencer’s long-term credit rating to junk status as the coronavirus lockdown exacerbates “historical operating weakness”
- News
Investors heed WH Smith’s emergency cash call
WH Smith was forced to go cap in hand to its shareholders this week to raise emergency cash amid dire warnings over the impact coronavirus was having on current trading.
- News
Greggs raises £150m through coronavirus Bank of England finance scheme
Greggs has raised £150 through the government created Covid Corporate Financing Facility.
- News
City snapshot: Diageo suspends share buyback scheme and withdraws financial guidance
Global spirits group Diageo has suspended its £4.5bn share buyback scheme and withdrawn financial guidance for its 2020 financial year, though it will still pay an interim dividend. Elsewhere, Naked Wines and Distil see coronavirus trading boost, Supermarket Income REIT looks for cash to fund acquisitions and all the rest of the latest news from the City.
- News
AG Barr profits fall as it warns of coronavirus impact on 2020
Irn-Bru maker AG Barr has posted a 17.3% slump in annual pre-exceptional profits and warned of a “material” impact on trading from the coronavirus outbreak.
- News
City snapshot: Tesco boss Dave Lewis warns of coronavirus costs as he defends dividend payout
Tesco boss Dave Lewis today defended plans to award a £900m dividend to shareholders, as he warned the cost of the coronavirus crisis could be as much as £1.2bn for the retailer if it drags on beyond October.
- Comment & Opinion
Will Tesco push ahead with its dividend payment and risk a PR storm?
Tesco is reportedly set to press ahead with a £550m dividend payment to shareholders this week
- News
Media Bites 6 April: Rates relief, Tesco, High Street
Rivals retailers are demanding that supermarkets hand back £3bn business rates relief.
- News
Greencore and Bakkavor’s food to go businesses savaged by coronavirus outbreak
While the supermarkets have experienced unprecedented levels of demand and sales growth in the midst of the coronavirus outbreak, the demand mechanics for two key listed grocery suppliers have been rather more mixed.
- News
Nestlé Purina to run £100m Lily’s Kitchen at arms length to ‘preserve premium credentials’
Premium petfood brand Lily’s Kitchen will continue to be run separately from global giant Nestlé Purina to “preserve [its] premium credentials” after being snapped up in a deal thought to be worth over £100m.
- News
City snapshot: Chancellor revamps coronavirus emergency loans programme
The Chancellor Rishi Sunak has announced a revamp of the government’s emergency loan measures to struggling SMEs by relaxing the criteria for eligible businesses and raising the limit on the size of companies that can apply. Plus, ABF leadership take pay cuts and all the rest of the latest news from the City.
- News
Media Bites 2 April: UK emergency aid, M&S, Morrisons
The chancellor is preparing to unveil an overhaul of his emergency aid scheme for small businesses amid warnings about a deluge of insolvencies.
- News
Nurture Brands secures deal to buy The Primal Pantry
Fast-growing plant-based snacking group Nurture Brands has agreed a deal to buy healthy snack bar brand The Primal Pantry
- News
Nestlé Purina buys premium petfood player Lily’s Kitchen
Premium petfood brand Lily’s Kitchen has been acquired by Nestlé Purina with the aim of boosting its global growth
- News
City snapshot: Chapel Down sees booming retail and online wine sales but suspends brewing business
English winemaker Chapel Down has experienced “substantial” growth in supermarket, off license and online sales, but has shuttered its beer and cider brewing arm due to the closure of on-trade outlets. Plus, UK shop prices fall 0.8% in March and all the rest of the latest news from the City.
- News
Media Bites 1 April: Supermarkets/Coronavirus, Tobacco, Poundland
Britons made nearly 80m extra grocery shopping trips in March – spending almost £2bn more on food and drink than in 2019
- News
Imperial Brands shares surge on coronavirus resilience
Shares in FTSE 100 tobacco giant Imperial Brands closed up more than 12% on its reassurance to the market that the current coronavirus outbreak has had “no material impact” on trading.
- News
Coronavirus demand surge supercharges grocery industry growth
The UK grocery industry experienced its strongest four-week period on record in March, with overall industry growth of more than 20% and the sales increase of established players rivalling that of the discounters
- News
City snapshot: Grocery sales surge to decade-long high amid coronavirus lockdown
Grocery sales have surged to the highest level in more than a decade amid the UK coronavirus lockdown, with industry growth at more than 20% in the past four weeks. Plus, Nichols warns of coronavirus impact, WH Smith and Sainsbury’s team up for NHS stores, Imperial Brands and BAT raise cash and all the rest of the latest news from the City.
- News
Restaurant chain Carluccio’s falls into administration
The Italian restaurant chain has entered administration, becoming the first major casual dining casualty of the coronavirus lockdown
