All articles by Alec Mattinson – Page 156
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NewsMedia Bites 30 June: Walgreens Boots Alliance, Tesco/Booker, Greene King
Stefano Pessina’s ambition to turn Walgreens Boots Alliance into a global drugstore group was dealt a blow by US regulators after he was forced to scrap a $17.2 billion takeover of Rite Aid, writes The Times.
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NewsGreene King toasts growth but warns over economic pressures
Greene King has posted a 6.9% rise in annual revenues to record high of £2.22bn in the year to 30 April 2017, but warned over the UK’s economic prospects.
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NewsCity snapshot: Tesco/Booker request swift move to in-depth competition investigation
Tesco and Booker have requested that the Competition and Markets Authority fast track its investigation into deal to a more in-depth phase 2 investigation. Plus Greene King raises revenues despite “demanding backdrop”, DS Smith swoops for US packaging firm and all the rest of the latest news from the City
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NewsMedia Bites 29 June: Tesco, Co-op Bank, Ocado
Tesco’s surprise decision to axe 1,200 head office jobs is heavily covered in the morning papers.
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NewsCrawshaws upbeat despite 4.5% like-for-like sales drop in first 20 weeks
Listed butchery chain Crawshaw Group insists it is making “good progress” despite a 4.5% drop in like-for-like sales in the first 20 weeks of its financial year.
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NewsMedia Bites 28 June: Supermarket sales, Nestlé, Co-op Bank, BHS
The mix of warm weather and mounting food price inflation has driven supermarket sales growth to its highest point for five years.
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NewsNestlé launches £16.3bn share buyback as investor pressure mounts
Nestlé has announced a CHF20bn (£16.3bn) share buyback scheme as part of a new strategy after pressure
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NewsMcBride refinances debt to cut costs by £2m a year
Private label consumer goods manufacturer McBride (MCB) has refinanced its existing banking facilities to buy back previously issued bonds and support its “Repair, Prepare, Grow” strategy.
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NewsWarm June weather boosts supermarket sales growth to multi-year high
Warm weather in June helped the UK grocers to their largest monthly year-on-year rise in sales since July 2013, according to market share data from Nielsen, while Kantar Worldpanel finds the best supermarket growth since March 2012.
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NewsMedia Bites 27 June: Nestlé, Co-op Bank, Amazon, Asda
News activist investor Third Point has taken a multi-billion dollar stake in Nestlé to try to force the Swiss consumer goods group to be more aggressive is well covered in the papers.
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NewsHolland & Barrett bought for £1.77bn
An investment fund controlled by a Russian billionaire has bought health food retail chain Holland & Barrett for £1.77bn.
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NewsMedia Bites 26 June: Sainsbury's/Nisa, Holland & Barrett, Tesco, Co-op Bank
Sainsbury’s is attempting to quell a possible rebellion over its planned takeover of Nisa with a proposal that shopkeepers can remain independent after the deal.
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NewsEnglish Tea Shop joins forces with Joe's Tea Company
Two UK speciality organic tea brands are joining forces to build an £11m operation to take advantage of booming sales of speciality teas
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NewsAmazon's Whole Foods move hits US and UK supermarket rivals
Amazon’s shock £12.7bn deal to buy US grocery chain Whole Foods Market has savaged supermarket shares
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NewsCity snapshot: English Tea Shop buys Joe’s Tea Company
Two UK speciality organic tea brands are joining forces to build an £11m operation to take advantage of booming sales of speciality teas. Plus, a look at the finance stories in this week’s edition of The Grocer, supermarket shares fall again and all the latest news from the City
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NewsMedia Bites 23 June: Heineken, Exports, B&M Bargains
Mexico looks to call the shots over Heineken’s tequila beer in row over tequila content in Desperados lager
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NewsJBS announces intention to sell Moy Park
Beleaguered Brazilian meat giant JBS has announced it plans to sell its shareholding in Northern Irish poultry firm Moy Park as part of a R$7m (£1.68bn) divestment programme
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NewsMedia Bites 19 June: Amazon/Whole Foods, Sainsbury's/Nisa, Tesco
Two stories dominate retail news in the weekend papers – Amazon’s shock swoop for Whole Foods Market on Friday and Sainsbury’s pursuit of Nisa.
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NewsCity snapshot: Sainsbury’s closes in on Nisa acquisition
Weekend reports have suggested Sainsbury’s has entered into exclusive talks to buy convenience chain Nisa for £130m,
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NewsMedia Bites 16 June: Morrisons, High Street, Majestic Wine
More than half of Morrisons shareholders have failed to back the supermarket’s bosses’ pay package in a massive protest vote.