Alec Mattinson
Alec leads The Grocer’s expanding coverage of all things finance-related. Follow Alec on Twitter: @AlecMattinson
Contact info
- Tel:
- 01293 610512
- Email:
- alec.mattinson@thegrocer.co.uk
NewsNestlé beats first quarter sales expecations on strong US and Brazilian growth
Consumer giant Nestlé posted first quarter organic growth ahead of expectations after a strong performance in the US and Brazil.
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Grown Up Chocolate Company enters administration
The Essex-based supplier appointed administrator Leonard Curtis on 11 April
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Typhoo falls to £20m loss as tea and operating costs soar
The tea supplier suffered from a sharp rise in the cost of key raw materials
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City snapshot: Unilever’s first quarter sales beat expectations
Unilever has topped City expectations with underlying sales growth of 3.1% in the first three months of the year. Plus, Nestlé posts first quarter organic growth ahead of forecasts this morning and all the rest of the latest news from the City.
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Media Bites 18 April: M&S, PepsiCo, Danone
Marks & Spencer has slashed prices on almost 500 of its most popular food items as it scrambles to win back customers and arrest its declining sales.
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Media Bites 17 April: Asda, Morrisons, Johnson & Johnson
Asda has been accused of planning to cut the pay of 3,000 supermarket staff, under proposed changes to employee contracts that will end paid breaks (The Guardian). Britain’s second biggest supermarket chain Asda has been accused of trying to disguise a pay cut for thousands of staff, as the campaign ...
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City snapshot: Card Factory profits hit by mounting costs
Greeting cards and gifts chain Card Factory has posted flat like for like annual sales despite a “tough consumer environment” but saw profits hit by rising costs. Plus, all the rest of the latest news from the City.
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Media Bites 16 April: Sainsbury's/Asda, Brexit, Greggs
Sainsbury is set for a major shake-up under new chairman Martin Scicluna if its £14bn merger with Asda is blocked, analysts have warned.
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US expansion boosts first half sales at WH Smith
Travel revenues continues to rise at WH Smith, which has announced 8% growth in first half sales after its acquisition of US travel retailer InMotion. Plus all the rest of the latest news from the City.
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Media Bites 11 April: Tesco, Reckitt Benckiser, Asda
“Drastic Dave’s Tesco shakeup pays off” writes The Times (£), after Tesco said the “vast majority” of its financial turnaround was complete.
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Tesco set to reveal bumper profits boost
Tesco is set to announce its biggest annual profit since the accounting scandal that dogged the UK’s biggest supermarket in 2014. Plus, board changes at Total Produce, a look forward to the week in the City and all the rest of the latest finance news.
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Media Bites 8 April: Tesco, Premier Foods, The Co-op
Tesco is working on a new loyalty scheme in the mould of Amazon Prime, which would give its tens of millions of shoppers greater incentives to sign up to the company’s bank and mobile phone services.
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Bumper sales at Inspired Pet Nutrition but profits fall back
The owner of pet food brands Wagg and Harringtons grew annual sales by 17.3% last year to £91.3m but profits were held back by its reluctance to push cost increases though to higher prices.
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City snapshot: Booming food sales drive profits boost at The Co-op
The Co-op has posted a double-digit rise in annual sales and profits last year as strong food performance boosted growth. Plus, March’s high street figures fail to rebound from Beat from the East all the rest of the latest news from the City.
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Media Bites 5 April: Brexit, High street, Mothercare
Cereal farmers have said leaving the EU without a deal would be “catastrophic” and the continued uncertainty is having a huge cost to business.
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Mothercare posts 10.8% annual UK sales slump
Baby and child retail specialist Mothercare has announced a further slump in a UK sales in its fourth quarter as it battles to turn around its struggling business.
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Media Bites 4 April: Brexit, US tobacco, Constellation Brands
The governor of the Bank of England Mark Carney has defended its gloomy forecasts for what a cliff-edge Brexit would mean and denied they amounted to scaremongering
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Kellogg’s sells US food assets to Ferrero for $1.3bn
Kellogg’s has agreed a $1.3bn (£1bn) sale of a number of non-cereal food assets to Italian confectionery giant Ferrero.
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City snapshot: Consumer confidence holds steady despite Brexit chaos
UK consumer confidence remained flat in March despite the unprecedented uncertainty surrounding the country’s exit from the EU.
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Media Bites 29 March: Dave Lewis, Brexit, Ocado
The boss of Tesco has criticised those who look down on shop jobs, accusing ministers of sidelining the retail industry and prioritising car and steel manufacturers.
