All articles by Ed Devlin – Page 49
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NewsCity snapshot: Naked Wines seeks new financing partner following Silicon Valley Bank failure
Naked Wines is searching for a new financing partner following the collapse of Silicon Valley Bank, but the wine delivery firm said this morning its day-to-day operations remained unaffected by the situation.
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NewsCity News: Greggs shares under pressure as stubborn inflation eats into profits
It was mixed picture for Greggs this week as the high street bakery chain revealed a 23% jump in 2022 revenues to £1.5bn but a mere 1.9% increase in pre-tax profits to £148.3m as soaring inflation ate into the bottom line.
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NewsYeo Valley sees profits wiped out by cost inflation
Yeo Valley Organic’s production arm has fallen into the red for the first time since the credit crunch in 2008
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NewsCompleat Food picks up assets from collapsed Vale of Mowbray
The historic Yorkshire-based business, which started making pork pies in 1928, appointed administrators from FRP in September last year after struggling to cope with soaring input cost inflation and higher energy bills.
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NewsBig Prawn creditors owed £23m-plus when shellfish supplier collapsed
The majority of the money owed isn’t expected to be repaid, the report by administrator Kroll revealed
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NewsCity snapshot: EG Group reports ‘resilient’ 2022 as it sells off chunk of US sites for $1.5bn
Forecourt giant EG Group has delivered “a highly resilient” performance in 2022 despite the challenging macro-economic environment. The group also announced a $1.5bn sale and leaseback on a portfolio of sites on the east coast of the US to help reduce its mountain of debt
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NewsMedia Bites 10 March: Fruit & veg shortages, Tesco, Morrisons, Boots
Supermarkets have begun to remove some of their purchase limits on fresh fruit and vegetables, introduced after widespread salad shortages and gaps on shelves.
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NewsTyphoo Tea to shutter Merseyside factory, affecting up to 90 jobs
The company is exploring options for a new site but said it would be at least a year before a suitable location was ready
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NewsCity snapshot: World Cup helps Domino’s Pizza Group score record Q4 orders
Domino’s Pizza Group has increased annual sales after an “outstanding” performance in the final quarter, boosted by a rollout on Just Eat and the World Cup
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NewsMedia Bites 9 March: Morrisons, Hotel Chocolat, The Restaurant Group
Morrisons racked up £1.5bn of losses in the year after being bought by US firm Clayton, Dubilier and Rice.
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News‘Climate-positive’ brand Sapling Spirits readies £1.2m crowd campaign
Sapling Spirits is preparing a seven-figure crowdfunding campaign to support the brand’s rapid growth in the UK and develop new markets overseas
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NewsCity snapshot: Bakkavor pushes revenues beyond £2bn but soaring costs weigh on profits
Bakkavor has reported a “robust” annual performance as like-for-like revenues exceeded £2bn but profits were weighed down by inflationary headwinds totalling more than £200m
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NewsMedia Bites 8 March: Greggs, Premier Foods, salmon farms
Coverage of Greggs’ annual results makes all the papers this morning.
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NewsHelloFresh sales hit record highs in 2022 but shares sink as it guides for slower growth
Revenues at HelloFresh hit a new record of €7.6bn in 2022 as it shipped more than one-billion meals to customers
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NewsHuel brings in Wagamama finance chief as new CFO
Fast-growing meal replacement brand Huel has appointed the CFO at restaurant chain Wagamama as its chief financial officer
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NewsPremier Foods shares soar on surprise profits upgrade
The group said, in a short unscheduled trading update, that it had continued to trade “strongly” in recent weeks, building on the momentum of the third quarter
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NewsDiscounters continue to grab market share as shoppers chase lowest prices
Shoppers have continued to flock to the discounters to cope with soaring grocery bills as volumes in supermarkets tumble, according to latest market data
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NewsCity snapshot: Record store openings drive sales boom for Greggs
Revenues at Greggs have soared as the high street bakery chain opened a record number of new shops in 2022
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NewsMedia Bites 7 March: Starbucks, Gousto, consumer spending
Starbucks has shelved plans to sell off its owner-operated UK coffee shops and instead committed to opening 100 outlets this year.
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NewsCity snapshot: Lloyds Pharmacy reviews future of 1,300 sites
Lloyds Pharmacy has put all its UK store base up for “strategic review”.