Finance news – Page 386
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NewsCity snapshot: Card Factory profits hit by mounting costs
Greeting cards and gifts chain Card Factory has posted flat like for like annual sales despite a “tough consumer environment” but saw profits hit by rising costs. Plus, all the rest of the latest news from the City.
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NewsMedia Bites 16 April: Sainsbury's/Asda, Brexit, Greggs
Sainsbury is set for a major shake-up under new chairman Martin Scicluna if its £14bn merger with Asda is blocked, analysts have warned.
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NewsDiageo ditches all plastic from its beer packaging
Cardboard packs roll out in Ireland from August 2019 and other markets from 2020
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NewsWarmer weather helps March retail footfall
Retail footfall increased 1.4% in March, according to the BRC-Springboard footfall and vacancies monitor, as warmer spring weather helped boost shopper numbers after a poor 2018.
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NewsMedia Bites 15 April: Tesco, BrewDog, Unilever
Tesco is experimenting with giving its Clubcard holders lower prices at the till, as chief executive Dave Lewis steps up plans to create an Amazon-like loyalty scheme.
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NewsBidfood owner BFS Group suffers £14.8m loss driven by logistics weakness
Bidfood owner BFS Group slumped to a headline loss of £14.8m in its most recent financial year due to heavy losses outside its core foodservice business.
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NewsFruit-infused beer brand Jubel sells minority stake to C&C
The deal will provide the Cornish startup with more routes to market
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NewsHeather Mills' VBites invests in vegan choc pot brand Onist
The supplier is one of the first to link up with the VBites Venture accelerator programme
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NewsFiddes Payne losses deepen after international sales decline
Revenues at the Cake Angels owner dropped 2% to £14.3m in the year to 30 June 2018
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NewsBrexit uncertainty slows UK exports of barley
It comes as Theresa May secured a Brexit extension of 31 October from the EU
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NewsCity Snapshot: C&C Group acquires stake in fruit beer brand Jubel
Magners owner C&C Group has acquired a minority stake in fruit-infused craft beer brand Jubel, Online grocery sales jumped 9% in 2018 according to new research and the rest of the new from the City
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NewsMedia Bites 12 April: WH Smith, Amazon, Reckitt Benckiser
WH Smith saw continued growth in its “travel” business outweigh a further decline in sales from high street stores
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NewsClipper-owner Wessanen agrees €885m sale to PAI-led consortium
The Clipper Tea and Whole Earth owner said the deal will help it to expand its position in the organic food market
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NewsSainsbury's key tech firm receives private equity investment
Leeds-based Infinity Works aims to upscale and increase its share of the IT services market
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NewsEG Group expands in US with Fastrac Markets acquisition
Fastrac operates in New York State and has over 500 employees
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NewsUS expansion boosts first half sales at WH Smith
Travel revenues continues to rise at WH Smith, which has announced 8% growth in first half sales after its acquisition of US travel retailer InMotion. Plus all the rest of the latest news from the City.
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NewsMedia Bites 11 April: Tesco, Reckitt Benckiser, Asda
“Drastic Dave’s Tesco shakeup pays off” writes The Times (£), after Tesco said the “vast majority” of its financial turnaround was complete.
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NewsAsda to raise minimum hourly rate while scrapping paid breaks
Staff could have their hours and departments changed at three weeks’ notice under the proposals
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NewsMüller to axe up to 40% of its milk and cream SKUs in cost-cutting drive
The move is part of the dairy giant’s Project Darwin cost-cutting drive, which aims to save £100m over two years
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NewsLewis 'very confident' on turnaround goals after Tesco profits surge
Pre-tax profits jumped to £1.7bn for the year to 23 February 2019