Finance news – Page 32
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NewsPZ Cussons pulls St Tropez auction as self-tan brand struggles in the US
PZ Cussons has abandoned plans to flog the St Tropez self-tanning brand after running an extensive auction process
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NewsRetail distress surges to highest level since financial crisis
Tight credit conditions, cost inflation and weak consumer demand have contributed to a sharp rise in financial distress in the sector
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NewsAsda falls £600m into the red amid turnaround battle
The slide from a £180m pre-tax profit to a £599m loss in 2024 came as food sales lagged expectations, falling 3.7% on a like-for-like basis, according to newly filed accounts for parent company Bellis Finco
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NewsRTD maker Pimentae secures £1.5m backing for retail expansion
The investment will be used to scale the brand into new retailers, add new brand activations and digital media presence, as well as accelerate its rollout into Europe
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NewsBrewDog posts return to EBITDA growth despite flat revenues in 2024
Adjusted EBITDA in the year ended 31 December 2024 stood at £7.5m
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NewsMedia Bites 25 June: Asda’s weeds, playing student politics, Spanish wine exports
Kantar’s latest figures have been picked up by several papers, with the majority of headlines focused on rising inflation and the potential impact of GLP-1 weight-loss drugs on falling volumes
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NewsTHG beats fears to deliver ‘much improved’ performance
Myprotein is anticipated to deliver THG around £170m this financial year
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NewsHeatwave sparks healthy eating sales boost
Yoghurt and berries were among the biggest winners as summer got off to a hot start
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NewsEnergy drink brand Prime crashes as sales suffer 71% collapse
Prime Hydration UK’s profits also vanished as revenues slumped last year
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NewsAmazon announces thousands of new jobs in £40bn UK investment plan
The investment will include four new fulfilment centres and thousands of ‘new permanent, full-time’ jobs.
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NewsPartners Group pounces on petfood maker MPM Products in £400m buyout
Partners’ £400m bid represents a 17% jump in MPM’s value since the end of March alone
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NewsSupermarket volumes decline as food inflation hits 16-month peak
Grocery volumes dropped for the first time this year as prices continued to spike at a faster pace in June, according to the latest Kantar data released this morning
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NewsUnilever acquires Dr Squatch as Dove owner continues to clean up portfolio
The Dove and Lynx owner said the deal marked another step in moving its portfolio towards premium and high-growth spaces
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NewsSignature Brew restructures in bid to tackle pandemic debts
Like many other small breweries Signature Brew saw a drastic reduction in trade during the pandemic
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NewsPoorest households have less spending power than in 2021 finds Asda Tracker
The lowest-earning 40% now have less spending power than they did in 2021, according to the tracker
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NewsInsomnia Cookies wins further backing for global growth drive
The on-demand bakery has accelerated plans to open 1,800 bakeries globally over the next 10 years after winning further backing from investors
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NewsKellanova shares slip as antitrust rumours circulate
Reports of a “full-scale EU antitrust investigation” into Mars’ $36bn acquisition of Kellanova have cooled excitement for the deal in New York
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NewsGrocery sales flop in May, latest retail figures show
A slump in food store sales in May has powered the worst monthly fall in retail sales since December 2023
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NewsMedia Bites 20 June: May retail sales, Post Office, sun cream
Sales volumes are estimated to have fallen by 2.7% in May, the biggest monthly fall since December 2023, according to the Office for National Statistics
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NewsConsumers gain confidence in economy – but not their wallets
Consumers’ thawing attitude towards the UK economy has powered a modest two-point boost to their overall spending confidence, according to GfK’s latest barometer