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All articles by Ed Devlin – Page 71
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NewsMedia Bites 17 June: Interest rates, THG, Revlon
The main news in the papers is the latest rise of interest rates by the Bank of England and the subsequent crash in global markets.
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NewsThe Magic Bean Co to create 4,000 jobs under major expansion drive
Starbucks franchise group The Magic Bean Co has outlined ambitious expansion plans to open hundreds of new stores and create 4,000 jobs after securing a £10m bank support package.
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NewsMedia Bites 16 June: WH Smith, THG, Sainsbury’s, food inflation, Unilever, Boots
The papers cover the latest trading update from WH Smith, alongside news of more food price rises to come and Sainsbury’s upping the price war against Aldi and Lidl.
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NewsBloody Drinks hits crowdfunding goal to support retail listings
The campaign on the Seedrs platform is currently overfunding and, at the time of publishing, has raised £265k from almost 200 backers.
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NewsAKT smashes £600k crowdfunding round to scale natural deodorant brand
The campaign on Seedrs values the London-based business at £5m, with 450 investors pledging £800k since the round went live on Monday.
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NewsCity Snapshot: WH Smith optimistic as travel recovery lifts sales above pre-pandemic levels for first time
Group revenues in the 15 weeks to 11 June were 7% ahead of 2019 levels thanks to “a particularly strong” performance from travel.
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NewsMedia Bites 14 June: Petrol prices, Tesco/Lidl, National Food Strategy
The UK competition watchdog will open an investigation into competition in the retail fuel market amid soaring petrol prices.
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NewsCity Snapshot: Distil sinks to a loss as Covid sales fall away
Premium spirits group Distil has fallen to a loss as revenues returned to more normal levels following a lockdown surge.
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NewsNielsenIQ snaps up data consultancy CGA to bring together on and off-trade insight
Based in Chicago in the US and Manchester in the UK, CGA specialises in the out-of-home food and drinks market, working with some the world’s biggest consumer brands, including drinks manufacturers, suppliers and wholesalers, as well as pubs, bars and restaurants.
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NewsGenius to target gut health after takeover
Genius has sought to reposition itself in the functional bread market in a bid to restart growth, tapping into growing consumer interest in gut health.
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NewsThorntons losses under Ferrero hit £190m as closure of retail stores hits sales
Pre-tax losses totalled £26.7m in the 12 months ended 31 August 2021 – a 29% improvement on the prior year’s £37.7m – as overheads associated with the retail operations were erased.
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NewsMedia Bites 10 June: Boots, GCA, Morrisons, Poundland, petrol prices
A potential £5.5bn agreement to buy Boots by PE firm Apollo and one of India’s richest men fills the papers this morning.
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NewsMedia Bites 9 June: CO2, inflation, Tesco, John Lewis
Britain’s biggest fertiliser producer and carbon dioxide supplier to the country’s meat, beer and soft drinks sectors is to close one of its plants as soaring energy costs continue to bite.
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NewsGluten-free bakery Genius Food acquired by German confectionery giants Katjes
Katjes VC arm Greenfood acquired the gluten-free bakery group for an undisclosed amount but said it was its largest acquisition to date.
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NewsCity Snapshot: WH Smith appoints new chairman to succeed Henry Staunton
Annette Court will join the board of the retailer as a non-executive director and chairman designate on 1 September and take over Staunton’s position on 1 December.
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NewsMedia Bites 7 June: Sainsbury’s, alcohol-free beer, petrol prices
Sainsbury’s revealed its chief executive received pay worth £3.8m in the latest financial year even as it rejected calls from big investors for it to ensure all workers in its stores receive a living wage.
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NewsLixir secures seven-figure funding to ‘catapult’ it to next stage of growth
New strategic investors joined with existing backers, including former Pernod Ricard commercial director Chris Ellis, to invest £1.1m in the future growth of the brand.
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NewsFootballer Chris Smalling launches eco-friendly VC fund
ForGood will invest between £50,000 and £1m in businesses addressing environmental issues, such as climate change.
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NewsCity Snapshot: Gusbourne reveals sparkling growth on Covid recovery
Revenues have almost doubled at Gusbourne as the English wine maker emerged from the pandemic with a growing online presence.
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NewsBrewDog narrows losses thanks to efficiencies and jump in sales
Punk craft beer brand BrewDog has narrowed its losses as NPD and growing supermarket distribution helped revenues jumped 21% last year.