Finance news – Page 660
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NewsIceland's Malcolm Walker: 'Price is not a weapon any more'
The frozen chain is shifting its strategy via a new Power of Frozen campaign that seeks to educate shoppers
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NewsMedia Bites 12 June: Sainsbury’s, Nestlé, PZ Cussons
Sainsbury’s CEO Mike Coupe acquitted of all charges by Egyptian courts, Nestlé attempts to trademark four-fingered KiKat bar fail and PZ Cussons brushes aside trouble in Nigeria to trade in line with expectations.
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NewsCity Snapshot: Waitrose sales heat up as sun shines
Waitrose said the arrival of sunny weather boosted sales 2.2% over the past week. Plus Contract Bottling and Speaking Water Brands merge to form Clearly Drinks. And the listed grocer’s continue a share price revival.
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WhiteWave acquires plant-based foods group for $550m
Alpro owner WhiteWave Foods Company has agreed to buy a plant-based foods manufacturer Vega for $550m (£354.5m).
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Permira gorges on healthy snacking businesses
Investment firm Permira, which recently sold Birds Eye owner Iglo Group to Nomad Foods, is combining two US snacks businesses after snapping up Medora Snacks and Ideal Snacks.
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NewsSupermarket woes to drag on to 2017, Moody's warns
Margins at the big four UK grocers are unlikely to recover for another 12 to 19 months as the price war continues to rage and like-for-like sales decline, ratings agency Moody’s has warned.
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NewsMedia Bites 11 June: Sainsbury's, Iceland, supermarket margins
Sainsbury’s first quarter results, which sparked a rally of supermarket shares, unsurprisingly get plenty of coverage this morning.
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NewsCity snapshot: Supermarket margins won't improve for 18 months
The big four UK grocers will not see a recovery in margins until at least 2016/17, according to ratings agency Moody’s.
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NewsBRC calls for government clarity over business rates
Group admits government does not have enough time to draw up new roadmap before 2017
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NewsSainsbury’s boss Mike Coupe sees better times ahead
Sainsbury’s CEO Mike Coupe has speculated that its 2.1% first quarter like-for-like sales decline could signal the “low point of the cycle” as deflation eases and volumes return.
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NewsIceland sales fall 4.4% in "exceptionally challenging" year
Profits at Iceland plunged by a quarter last year as like-for-like sales fell 4.4% in an “exceptionally challenging year”.
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NewsSainsbury's blames deflation for marked Q1 decline
After a 3.7% decline, Mike Coupe said volume and transactions continued to grow on the back of “improved value and further investments in quality”
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NewsMedia Bites 10 June: Tesco, Premier Foods, P&G
Potential buyers are circling Tesco’s South Korean operations
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NewsCity snapshot: Sainsbury’s first quarter like-for-likes down 2.1%
Sainsbury’s like-for-like sales have fallen by 2.1% during the 12 weeks to 6 June.
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NewsPoundland shares fall to all-time low after house broker downgrade
Shares in Poundland have fallen today to their lowest price since the discount chain floated in March 2014 on the back of a downgrade from its house broker.
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NewsACS calls for big changes to current business rates system
Most retailers would prefer to stick with the property based system of business rates, rather than change to a fundamentally new basis of taxation
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NewsPremier Foods calls time on 'power brands' strategy
Premier Foods’ switch to a more category-focussed approach has effectively spelt the end of its ‘power brands’ strategy.
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NewsPayPoint profitable for retailers, analysts claim
The analysis by Numis Securities refutes retailers’ claims they are making a loss on the service
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NewsCity Snapshot: Food sales stablise in May
Britain’s grocers saw food sales stabilise in May but the chilly weather and lack of sustained sunshine dampened overall retail figures for the month, according to the latest BRC-KPMG Retail Sales Monitor.
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NewsMedia Bites 9 June: Boots, Diageo, e-cigarettes
Boots cuts 700 jobs to concentrate on online and Diageo takeover rumours add almost £3bn to its value in one fell swoop