All articles by Andrew Don – Page 8
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NewsCauseway Capital to shut a further 14 Patisserie Valerie stores
The new private equity owner of Patisserie Valerie is to shut a further 14 stores at the cost of 100 jobs.
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NewsMedia Bites 10 July: Ocado/M&S, Asda, Patisserie Valerie
Ocado and Marks & Spencer are both heavily covered in this morning’s papers ahead of the launch of their JV.
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NewsCity snapshot: Ocado posts deep first half loss after £100m Andover fire hit
Ocado has posted a first half pre-tax loss of over £140m after the fire at its Andover warehouse cost the online supermarket almost £100m. Plus, PhD Nutrition acquisition drives first half sales surge at Science in Sport and all the rest of the latest news from the City.
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NewsMedia Bites 9 July: Retail sales, Imperial Brands, Heck
Retailers have suffered the “worst June on record” with total sales down 1.3% year-on-year in June
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NewsCity snapshot: Sainsbury’s first quarter sales slide amid non-food slump
Sainsbury’s like-for-like sales fell by a further 1.6% in the 16 weeks to 29 June to put further pressure on CEO Mike Coupe after its failed merger with Asda. Plus, PureCircle issues profits warning, shop prices drop but food inflation holds steady and all the rest of the latest news from the City.
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NewsMedia Bites: Tesco/Brexit, Majestic Wine, Sin taxes
Tesco chief executive Dave Lewis has told the BBC that planning for the new Brexit deadline of the end of October will be more difficult because the supply network will be full of Christmas stock.
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NewsCity snapshot: CapVest finally agrees deal to buy Young’s Seafood
Private equity investor CapVest has finally won the long running bidding process for seafood specialist Young’s and will place it in an enlarged Karro Food Group. Plus, Morrisons restates first-half and full-year restated 2018/19 results on a IFRS 16 basis and all the rest of the latest news from the City.
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NewsMedia Bites 2 July: Pret A Manger, Sainsbury’s, Thorntons
Pret A Manger chief executive Clive Schlee will step down in September to be replaced by Pano Christou, chief operating officer
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NewsCity snapshot: Applegreen breaks into US Mid-West
Applegreen has made its first major foray in to the United States’ Mid-West. Plus, Tesco to outline sustainability plans, first half profits dip at Wynnstay and all the rest of the latest news from the City.
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NewsMedia Bites 26 June: E-cigs, Grocery market share, Insects
San Francisco has become the first US city to block sales of e-cigarettes that have not been approved by the Food and Drug Administration.
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NewsWet weather washes out grocery sales growth
The wet start to the summer compared with last year’s heatwave and the run up to the men’s FIFA World Cup limited grocery market growth, according to the latest grocery market share data.
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NewsMedia Bites 25 June: Food labelling, Co-op, Boots
The government has given food businesses until summer 2021 to prepare for allergen labelling of food prepared on site.
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NewsCity snapshot: Coca-Cola HBC completes Bambi confectionery deal
Coca-Cola HBC has completed its acquisition of Bambi, Serbia’s leading confectionery brand. Plus, Whitbread begins to return cash to shareholders following the sale of Costa Coffee to Coca-Cola, Steinhoff cuts annual losses in delayed accounts and all the rest of the latest news from the City.
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NewsMedia Bites 19 June: Tesco, John Lewis, Sainsbury’s
Tesco is mulling the launch of “Finest” upmarket convenience stores to compete with Marks and Spencer’s Simply Food stores.
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NewsCity snapshot: Brexit stockpiling to hit future UK economic growth
The British Chambers of Commerce has released its latest economic forecast, upgrading its growth expectations for the UK in 2019 but downgraded forecasts in 2020 and 2021. Plus, Tesco hosts capital markets day and all the rest of the latest news from the City.
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NewsMedia Bites 18 June: Alibaba, Black Sheep Coffee, Beyond Meat
Alibaba will hive off its fresh groceries business, Freshippo – known as Hema in Chinese – into a stand-alone business as part of a shake-up of its business units and top executives
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NewsCity snapshot: Reckitt Benckiser brings in PepsiCo exec to replace Rakesh Kapoor
Reckitt Benckiser has announced that PepsiCo executive Laxman Narasimhan will succeed Rakesh Kapoor as chief executive. Plus, Lidl outlines £500m London investment plan, British American Tobacco banks on innovation to boost second half earnings and all the rest of the latest news from the City.
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NewsMedia Bites 12 June: Unilever, Tesco, Beyond Meat
Unilever chief executive Alan Jope has signalled the group will shift further from food to the higher-margin beauty and personal care market.
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NewsSainsbury’s Bank appoints new chief executive
Sainsbury’s has named former Royal Bank of Scotland exec Jim Brown its next chief executive of Sainsbury’s Bank.
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NewsMedia Bites 11 June: Ocado, Sainsbury's/Asda, Amazon
Ocado is getting in early into what may become a profitable niche of the global food supply chain with its £17m plans to roll out vertical farms near its existing warehouses.