Finance news – Page 355
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NewsRob Collins and Wim Van Aalst are first casualties of John Lewis Partnership cull
Waitrose MD Rob Collins and supply chain boss Wim Van Aalst are first of 75 senior executives to face axe in JLP restructure
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NewsCity snapshot: Dave Lewis’s legacy on Tesco share price
During his five-year tenure, the City was not very generous towards Lewis despite evidence its efforts paid off
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NewsMedia Bites 4 Oct: John Lewis, PAI/Hain Daniels, Tomatoes
John Lews is seeking rent cuts from its landlords in a bid to cut running costs. The retailer told landlords in some locations it would withhold 20% of this quarter’s service charge, which covers heating and water on top of rent, because it had become too expensive. ...
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NewsPepsiCo’s third quarter revenues rise as it ramps up marketing
PepsiCo has reported a 4.3% increase in third quarter revenues, as ramped-up marketing spend boosted demand for its soft drinks and snacks
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NewsTesco acquires Best Food Logistics for ‘nominal sum’
Best Food Logistics last year announced a major long-term supply deal with Pizza Hut
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NewsBargain World ceases trading after five months
The company’s two existing stores closed this week
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NewsCity snapshot: Imperial Brands CEO to step down
Alison Cooper, who has been at the helm of the tobacco giant for nine years, will step down as soon as a suitable successor is found
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NewsMedia Bites 3 Oct: Deliveroo, Tesco, Tariffs
Deliveroo has seen revenues jump 72% in 2018 but losses widened 17% to £232m as the ride haling app invested into new markets and competitiveness in challenging areas. Revenues came in at £476m but operating expenses surged to £349.4m from £106m the previous year (The Financial Times ...
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NewsBIB Wine seeks funding to open bag-in-box bar and shop
The startup is about to launch a crowdfunding campaign looking to raise £467k to open its first bag-in-box bar and shop
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NewsWhitworths sales continue to slide but operational losses improve
The business is now focused on shifting from being an ingredients-focused company to a healthy snacking firm
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NewsTesco CEO Dave Lewis to step down: analyst reactions
Tesco CEO Dave Lewis has announced he is to quit after five years at the helm. Here is how analysts and other experts reacted to the news
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NewsCity snapshot: Tesco CEO Dave Lewis to step down
“I believe that the tenure of the CEO should be a finite one and that now is the right time to pass the baton,” he said.
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NewsMedia Bites 2 Oct: M&S, John Lewis, Greggs
Source: Marks & Spencer Steve Rowe warned that Marks & Spencer’s turnaround is 18 months behind schedule At a meeting with analysts and investors, Marks & Spencer’s CEO Steve Rowe has admitted that the retailer’s turnaround plan for its clothing and home lines is 18 months behind ...
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NewsInnocent sales rocket amid European expansion
Innocent has posted further revenue growth last year, with sales rocketing to nearly £400m as health-conscious consumers flocked to buy its smoothies
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NewsHovis Holdings hails ‘solid year’ after £9.1m bakery sales boost
At group level, Hovis Holdings’ sales were £460.9m – a 2% decline on 2017
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NewsWaitrose MD Rob Collins to leave as part of major restructure
John Lewis and Waitrose will be managed and operated as one business by a single executive team
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NewsJohn Rogers exits Argos to take up top finance role at WPP
Rogers has spent 14 years at the retailer and had been seen as a potential successor to Sainsbury’s CEO Mike Coupe
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NewsCity snapshot: Greggs outlook unchanged as third quarter sales rise
Greggs posted another quarter of sales increase, while analysts predict Tesco’s interim sales to flatline amid strong comparatives and Brexit uncertainty
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NewsMedia Bites 1 Oct: Jamie Oliver, Waitrose, Red meat
Celebrity chef Jamie Oliver has received a £5.2m dividend payout from its restaurant chain despite falling profits and the collapse into administration of its UK arm. Across the wider Jamie’s Italian group, profits were down to £8m in 2018 from £14.7m due to costs associated with the ...
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NewsJam and chutney maker Rogue seeks £150k for national expansion
Rogue has already gained listings in Sainsbury’s and Ocado