Finance news – Page 643
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NewsMedia Bites 11 Sep: Morrisons, Waitrose, Lidl
The papers react to sliding sales and profits at Morrisons and Waitrose
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NewsMorrisons launches six-point turnaround plan in wake of store closures and profits slump
Morrisons CEO David Potts has revealed a six-point turnaround plan after reporting a 47.2% fall in half year profits
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NewsHilton Food Group hints at more expansion after solid results
Meat packing firm Hilton Food Group has not ruled out further expansion in both the UK and Australia
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NewsKarro Food Group returns to profitability
Karro Food Group has returned to profitability in its second year of trading as an independent business after years of annual losses.
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NewsPick Your Own ‘not hitting profits’, says Waitrose CEO
Mark Price has insisted the scheme is boosting sales and margins have not declined
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NewsCity snapshot: Morrisons’ first half like for likes fall by 2.7%
Morrisons (MRW) has announced a 5.1% fall in first half revenues and a 2.7% drop in like-for-like sales
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NewsMedia Bites 10 Sep: Morrisons/M Local, Monitise, Sports Direct
Morrisons decided to “cut its losses” on its convenience business, according to the papers this morning.
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NewsWaitrose profits hit as property woes blight JLP
Waitrose has seen its profits fall again as ‘turmoil’ in the grocery market and a loss of property profits hits
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NewsMorrisons confirms sale of 140 M Local stores
The stores are being sold for £25m to a team led by Mike Greene and Greybull Capital
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NewsPalmer & Harvey grows sales but makes net loss from Costcutter 'teething problems'
P&H said that it, along with Costcutter, invested heavily in unplanned net start-up costs amounting to £15.2m
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NewsCity snapshot: MillerCoors names new CEO
MillerCoors has named Gavin Hattersley as its new chief executive officer; new CFO for Hain Celestial, Terra Firma confirms Justin King role and all the rest of the news from the City.
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NewsMedia Bites 9 Sep: Tesco, Justin King, M&S
A string of private equity firms have abandoned offers for Tesco’s data arm Dunnhumby, according to reports.
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NewsBright Blue Foods acquired by private equity firm Endless
Own label and licensed cake supplier Bright Blue Foods has been acquired by private equity firm Endless for an undisclosed sum
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NewsMcBride returns to annual profit despite 5.4% sales dip
McBride, the provider of private label household products to major retailers, has vowed to focus on “manufacturing excellence”
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NewsConviviality Retail secures £200m Matthew Clark acquisition
Under the terms of the deal Matthew Clark, the UK’s largest independent drinks distributor, will become wholly-owned by Conviviality Retail
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NewsMedia Bites 8 Sep: Tesco, ABF, Justin King
Tesco’s £4bn sale of South Korean retail arm dominates the business pages this morning.
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NewsCity snapshot: Conviviality agrees £200m Matthew Clark deal
Bargain Booze owner Conviviality Retail has agreed to buy drinks wholesaler Matthew Clark in a deal worth £200m
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NewsGreat British Sauce Co. exceeds £200k crowdfunding target
Great British Sauce Co. has raised almost £250k from its crowdfunding campaign on Crowdcube.
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NewsCurrencies and sugar woes hit ABF’s full-year trading
Associated British Foods hasreaffirmed that the impact of currencies and the weak performance of its sugar division will see an overall decline in annual profits.
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NewsTesco sells Homeplus to investors for £4.2bn
The sale marks another step in the scaling down of the global empire built by Sir Terry Leahy and Philip Clarke