Finance news – Page 424
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NewsNestlé to move chocolate R&D from Switzerland to York
Work currently carried out in the municipality of Broc is scheduled to move on 1 May to North Yorkshire
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NewsSweet Christmas for Hotel Chocolat
Luxury chocolatier Hotel Chocolat has reported a sweet Christmas trading period as sales recorded a double-digit rise in the 13 weeks to 31 December.
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NewsFrank Field MP blasts accounting 'deficiencies' at Palmer & Harvey
The chairman of the House of Commons’ work and pensions committee has blasted the management and auditors of Palmer & Harvey after a report by administrators revealed the failed wholesaler significantly understated its losses in the 2015/16 financial year.
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NewsFever-Tree overtakes Schweppes in battle for mults' mixer sales
A festive surge means it now holds a 39% market share on the off-trade, compared to Schweppes’ 31%
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NewsNisa insists availability is 'back to usual high standards'
Issues emerged afer Nisa took on extra business following the collapse of P&H
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NewsSainsbury's in-store jobs at risk in cost-cutting restructure
Deputy managers are set to be replaced with a smaller number of operations managers
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NewsP&H understated losses by £12.1m in 2015/16, administrators' report reveals
Palmer & Harvey significantly understated the extent of its losses in the 2015/16 financial year after a series of “omissions” and “misstatements”, according to a report into the collapse of the wholesaler by PwC.
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NewsCo-op to invest £50m in raft of in-store discounts
The retailer has slashed 600 prices by an average of 14%.The move follows plans to open 100 new convenience stores and to revamp a further 150 of its outlets
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NewsYoung's appoints Duncan McIntyre group operations director
McIntyre will begin his role on 12 March replacing Steve Lidgett, who retires in April
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NewsMedia Bites 24 January: Palmer & Harvey, Sainsbury's, P&G, SSP, Carrefour
The Guardian has followed up The Grocer’s scoop that Palmer & Harvey collapsed with debts of more than £700m. Plus, the latest proposed job cuts at Sainsbury’s fall under the media glare.
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NewsCity snapshot: WH Smith travel division fuels Christmas growth as high street continues to decline
The WH Smith travel division continued to grow from strength to strength over the Christmas period as sales at the retailer’s high street stores continued to decline. Plus, Hotel Chocolat records 15% sales growth over Christmas; and Fever-Tree once again expects full-year profits to be “comfortably” ahead of expectations after another year of soaring sales.
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NewsAmazon opens its much-anticipated Amazon Go checkout-free store
The store sells ready-to-eat breakfast, lunch, dinner and snacks made by its chefs and local kitchens and bakeries
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NewsTrewithen Dairy boosted by new contracts and expansion
Turnover rises to £32m according to supplier’s accounts, while branded sales top £11m
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NewsPalmer & Harvey creditors owed more than £700m, PwC report reveals
Creditors of Palmer & Harvey are facing losses of more than £700m following the collapse of the wholesaler late last year, a report by administrator PwC, seen by The Grocer, has revealed.
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NewsMD Scott Malcolm to exit Scottish Spar wholesaler CJ Lang
Malcolm is relinquishing his role as MD after nine years to pursue other interests
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NewsTesco scrapping over 1,700 management jobs
Tesco is doing away with the roles of people manager and compliance manager in its large stores and fulfilment centres
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NewsBacardi snaps up posh tequila Patrón in $5.1bn deal
Bacardi said the deal would make it ‘the number one spirits player in the super-premium segment in the US’…
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NewsCandy Kittens sells stake to German confectionery giant Katjes
Candy Kittens, the UK sweets startup co-founded by Made in Chelsea star Jamie Laing, has sold a “significant” minority stake to German confectionery company Katjes Fassin.
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NewsCity snapshot: SSP Group’s revenues up 13.5% in first quarter
Travel food specialist SSP Group has increased sales by 13.5% in the first quarter, driven by like-for-like growth, contract wins and global expansion. Bacardi buys Patrón Spirits for $5.1bn, UK snow hits Christmas trading at Marston’s, Ocado’s shares surge 28% on Canada tie-up and all the rest of the latest news on a busy morning in the City
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NewsMedia Bites 23 Jan: Tesco, Ocado, Nestlé
“Managers in firing line as Tesco jobs go” is the leading story in this morning’s edition of The Times.