Finance news – Page 654
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NewsCity Snapshot: B&M Bargains reveals strong spring as shoppers stick with discounters
Listed value retailer B&M Bargains has reported another period of soaring growth in a strong spring trading update. Elsewhere, Marks & Spencer gives an insight into succession planning as head of food Steve Rowe takes over from head of GM John Dixon.
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NewsMedia Bites 17 July: M&S, Amazon
The papers focus heavily on news that Marks & Spencer’s head of general merchandise John Dixon has quit for another top job in retail. Also in the headlines is Amazon’s plans to launch online grocery delivery in the UK.
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NewsFinsbury to beat profits forecasts as sales heat up
Soaring sales at Finsbury Food Group have sent investors flocking to the listed bakery and cake supplier
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NewsPhilip Morris sales dragged down by lower UK market share
Sales have fallen 12% to $6.9bn (£4.4bn) at tobacco company Philip Morris International in the second quarter, dragged down by a lower market share in the UK.
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NewsCasino reports improved activity in Q2
French retailer Casino’s standout performance has come from its ecommerce business in the second quarter – with gross merchandise value up 25.8% at constant exchange rates.
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NewsSeabrook Crisps heads for £35m private equity deal
Private equity house LDC counts Ministry of Cake, The ComplEAT Food Group and Intercontinental Brands among its 90-strong portfolio
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NewsHilton shares plunge as meat group faces currency headwinds
Meat packaging business Hilton Food Group has traded in line with the board’s expectations despite challenging consumer conditions
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NewsCarrefour shares rise as international growth pushes up sales
Shares in French supermarket giant Carrefour have risen 2.5% to €30.89 thanks to continued sales growth in its second quarter
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NewsCity snapshot: Annual sales up by 45.8% at Finsbury Food Group
Bakery and cake supplier Finsbury Food Group (FIF) has grown revenues by 45.8% in the year to 27 June, plus second quarter trading figures from Casino and Carrefour and all the rest of the latest news from the City.
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NewsMedia bites 16 July: CMA, Lidl, JD Wetherspoon
Supermarkets are misleading shoppers by running confusing promotions, Britain’s competition regulator has found.
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NewsBakkavor completes Italian pizza exit
Bakkavor has sold its remaining 60% stake in Italpizza to Dreamfood, an investment company controlled by Italpizza’s MD Cristian Pederzini.
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NewsBig four building less than a third of planned stores
Figures show that just 32 per cent of projects submitted for planning permission by big four have been built
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NewsLidl sales climb £700m to record £4bn as new HQ plans unveiled
Lidl has hiked its UK sales by £700m to a record £4bn for the 2014 financial year as more shoppers desert the mainstream grocers for the discounters
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NewsCity Snapshot: Carr's food volumes hold up
Volumes in Carr’s Group food division, which supplies flour to the likes of Warburtons, are ahead of a year ago
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NewsSquare Pie targets £2m from launch of ‘pie bond’
Gourmet pie business Square Pie, which has listings in Tesco and Ocado is aiming to raise up to £2m from a crowdfunding campaign to add new products to its supermarket range.
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NewsAcquisitions drive Lindt’s first half sales up 17.4%
Swiss chocolate maker Lindt saw revenues grow by 17.4% in the first half of the year, largely thanks to its acquisition of US confectionery firm Russell Stover.
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NewsMüller and Dairy Crest deal decision could come next month
Dairy Crest confirm a further update on the deal’s progress is due on 21 August
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NewsCity Snapshot: Dairy Crest reports strong cheese quarter
Dairy Crest says its expectations are unchanged on the back of strong cheese growth, while Ferrero reaches 72% of Thorntons ownership
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NewsMedia Bites 14 July: Living wage, Tesco, GCA, Bargain Booze
George Osborne’s new national living wage is likely to lead to higher prices at the supermarket checkout, according to Moody’s. Plus Tesco brings in new click & collect charges, the GCA asks questions of Morrisons and profits and sales rise at Conviviality retail.
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NewsBargain Booze owner lays foundations for growth
Conviviality Retail boss Diana Hunter has said the group is in a “strong position” to grow in the coming years after the Bargain Booze owner increased revenues 2.4% to £364.1m.