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All articles by Ed Devlin – Page 67
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NewsBeyond Meat to axe 4% of global workforce as losses balloon and sales forecasts are cut back
Beyond Meat has lowered its sales expectations for the year, posted a wider than expected loss for the second quarter and revealed plans to cut 4% of its global workforce
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NewsWype lines up seed funding round to scale wet wipe alternative brand
Sustainable personal care challenger Wype has secured pre-seed financing ahead of a bigger round later this year to help bring its wet-wipe-in-a-bottle innovation to supermarket shelves.
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NewsMedia Bites 5 August: Bank of England, Diageo, Amazon, Next
The papers go big on the latest interest rates decision by the Bank of England and the sober warnings of a protracted recession to come.
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NewsMPM Products sales soar to close to £100m amid pet ownership boom
A boom in pet ownership during the pandemic has helped premium petfood maker MPM Products increase sales to almost £100m in its first year under new PE ownership
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NewsMedia Bites 4 August: Inflation, Just Eat Takeaway, Unilever, M&S
Inflation could reach 15% early next year, a leading think tank has warned, as soaring gas prices deepen the cost of living crisis.
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NewsCity Snapshot: Just Eat Takeaway falls €3.5bn into the red but confident of path towards profitability
Just Eat Takeaway has sunk to a €3.5bn loss in the first half after writing down the value of its embattled Grubhub service in the US, but the food delivery firm said it was making “significant progress” towards profitability.
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NewsOatly shares sour as plant-based group slashes growth expectations
Oatly shares have slumped to a new low as losses widened further and the oat milk giant downgraded sales expectations
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NewsMedia Bites 2 August: Ukraine grain, Heineken, Cranswick
A grain shipment leaving the port of Odesa for the first time in months makes headlines this morning, as does the latest Heineken results and the rising cost of pork.
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NewsLab grown palm oil alternative step closer as Clean Food Group secures seed financing
It is hoped the lab-grown, cellular-based alternative could help reduce the detrimental environmental impact of palm oil production
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NewsCity Snapshot: Heineken fails to scare off drinkers as sales and profits soar despite higher prices
Sales and profits at Heineken have grown in the high double digits as consumers drank more beer despite prices rising. Plus, a Q1 update from Cranswick and the latest investment from Agronomics.
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NewsP&G warns of $3.3bn hit in year ahead from rising costs as price hikes help sales growth
Price rises pushed through by Procter & Gamble have helped increase sales at the US consumer products group, but it warned of another year of “significant” headwinds ahead.
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NewsCo-op job losses plan linked to £47m spending cut
The Grocer has seen a communication from CEO Shirine Khoury-Haq to staff that provides more clarity on the move
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NewsMedia Bites 29 July: Diageo, Nestlé, Amazon
Results from Diageo, Nestlé and Amazon make headlines this morning.
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NewsYorkshire Tea growth pushes Bettys & Taylors sales past £250m but rising costs hit profits
Elevated demand for Yorkshire Tea and Taylors of Harrogate has pushed revenues at owner Bettys & Taylors Group above a quarter of a billion pounds for the first time, but rising costs dented profits.
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NewsMedia Bites 28 July: Reckitt Benckiser, Kraft Heinz, McDonald’s, Haleon
The papers report on the latest big consumer groups hiking prices to manage inflation.
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NewsKraft Heinz pushes through price increases to manage inflation
The US group pushed up prices more than 12 percentage points in its second quarter, which helped sales beat Wall Street expectations.
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NewsVimto maker Nichols with ‘encouraging’ growth despite inflationary pressures
The boss of Nichols has hailed the drinks group’s first-half performance in the face of challenging inflationary headwinds, with Vimto making further market share gains and the out-of-home channel moving back above pre-Covid levels for the first time.
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NewsParsley Box shares sink as sales slide continues
The DTC ready meals for the over-65s operator reported a 30% fall in revenues to £9.6m in the six months to the end of June.
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NewsFood price inflation accelerates to 13-year high
Food prices have hit a 13-year high as spiralling production costs piled more pressure on the grocery sector, according to the latest industry data.
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NewsCity Snapshot: Danone and Reckitt Benckiser beat expectations thanks to price rises
Reckitt Benckiser and Danone have continued the trend of stronger-than-expected sales growth from big consumer groups fuelled by hefty price rises. Plus, trading updates from Haleon and Parsely Box, Q2 numbers from Mondelez, first-half results from British American Tobacco and Nichols, Q1 figures from Rémy Cointreau, and the latest shop price index from BRC and Nielsen.