All articles by Ed Devlin – Page 4
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NewsCity snapshot: Ultimate Products shares crash amid weak consumer demand
Homeware group Ultimate Products is the latest consumer-facing firm to take a hit from the current challenging market conditions as revenues slide on weaker demand for general merchandise
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NewsCity snapshot: John Lewis to fall short of profit targets as Waitrose disappoints at Christmas
Disappointing Christmas sales at Waitrose are to blame for John Lewis missing profits targets over the festive season in a setback for the partnership’s ongoing turnaround
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NewsSeep cleans up on Dragons’ Den with backing from Trinny Woodall
Founder Laura Harnett secured £50k in return for a 4% stake from Deborah Meaden and Woodall in the latest edition of the BBC One programme, aired this evening
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NewsLove Sum celebrates Lunar New Year with Dragons’ Den investment offer
Sandy Tang launched Love Sum after she made it to the final three on the 2020 series of Masterchef. She hopes the backing of Peter Jones will help propel the ready-to-cook brand into more mainstream supermarkets
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NewsMontezuma’s back in black in first year after rescue
Revenues at the business surged in the year to 31 May 2024 to £10.8m – higher than at the chocolate maker’s peak – as new owner Paramount Retail Group focused on a turnaround
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NewsGreencore delivers positive Q1 but warns of ‘unprecedented’ labour cost challenges
Sandwich maker Greencore has reaffirmed its full-year guidance following a ‘strong’ first quarter with volumes growing ahead of the market
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NewsMorrisons turnaround gathers momentum to end the year on a high
Morrisons has delivered its strongest quarter for almost four years following a year of ‘urgent reinvigoration and positive progress’
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NewsVirgin Wines raises a glass to ‘highly encouraging’ Christmas
Revenues increased 6.7% year on year over the six weeks to 27 December, with sales over the month as a whole up 9% compared with December 2023. The DTC wine retailer said it was the highest level seen since the peak period during the Covid lockdowns
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NewsSSP Group maintains guidance following ‘good’ start to new financial year
A recovery at SSP Group has continued to gather momentum, benefiting from strong growth in the travel industry around the world and fewer strike days on the railways in the UK
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NewsPets at Home sales hit by weak footfall in ‘golden quarter’
Revenues at Pets at Home have fallen in the ‘golden quarter’ as the challenging consumer environment led to fewer customers visiting stores
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NewsVegan Food Group strengthens board with UK MD and CFO
The Vegan Food Group has strengthened its board with the creation of a new UK managing director role and the appointment of a new CFO
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NewsImpossibrew smashes crowdfunding campaign to raise more than £1m
The brand uses natural nootropics and adaptogens to create a 0.5% beer that gives drinkers a ‘one or two pints feeling minus the downsides’
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NewsProfit warnings ramp up across retailers in ‘golden quarter'
Profit warnings at UK retailers ramped up in the final ‘golden quarter’ of the year as consumer confidence remained under pressure
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NewsCity snapshot: WH Smith confirms high street sell-off talks, while Diageo rules out Guinness sale
WH Smith is exploring a potential sale of its high street stores in a bid to become a pure-play travel business, and Diageo rules out a sale of Guinness
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NewsWH Smith explores sale of high street division
WH Smith is in talks to sell off its high street retail operation to focus exclusively on the growing travel division of stores in airports and railway stations
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NewsCity snapshot: Consumer confidence sinks and more businesses teeter on the edge of collapse
Confidence in the UK economy has plummeted as consumers worry about ‘dark days’ ahead, according to a closely watched survey out this morning. Plus, there has been a ‘worrying surge’ in the number of UK businesses entering ‘critical’ financial distress in the final quarter of 2024
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NewsInnovatus and Babco merge to create spirits ‘powerhouse’
The combined company offers a broader range in its premium portfolio, bringing together Horse Guards Gin, Barentsz Gin, Pedrino Spritz and Wing Walker Rum (Innovatus) and Neptune Rum and Tofka toffee vodka (Babco)
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NewsSurya and Veetee hire advisors to explore strategic options
The Grocer has learned Surya engaged Grant Thornton and Veetee hired Goldman Sachs last year
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NewsBramble Foods acquires Whitakers to expand chocolate offering
The strategic move strengthened the Bramble Foods offering, uniting two family-owned brands with ‘a shared commitment to quality and heritage’, the group said
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NewsFood & drink deals boosted by budget tax worries in 2024
M&A activity in food & drink picked up significantly in 2024, with volumes driven higher in October as businesses raced to push through deals ahead of anticipated budget tax hikes by Rachel Reeves