Finance news – Page 164
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NewsCity snapshot: THG falls to £496m operating loss as margins slide
Online beauty and nutrition retailer and brand owner THG has reported a £496m annual operating loss as its margins were slashed by a reluctance to pass on inflationary price increases and investment in customer retention
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NewsMedia Bites 18 April: THG, inflation
The main headlines in this morning’s papers are reserved for THG following a speculative bid from a PE firm.
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NewsBestway’s Well Pharmacy acquires pharmaceutical wholesaler Lexon UK
Both businesses are in prenotification discussions with the Competition and Markets Authority, which will review the acquisition
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NewsTHG shares jump on Apollo ‘preliminary’ takeover approach
THG shares have jumped more than 40% today after it confirmed it has been approached by private equity giant Apollo Global Management over a possible deal
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NewsGreencore seeking CFO as Emma Hynes steps down
Hynes will leave the food-to-go specialist in May following the group’s half-year results, remaining with Greencore for a transition period to help her successor.
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NewsMedia Bites 17 April: Asda, John Lewis Partnership, THG
Asda has launched what it claims is Britain’s biggest autonomous grocery home delivery trial
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NewsCity snapshot: Supreme upgrades expectations amid vaping boom
Vape manufacturer Supreme is set to report annual results that are “comfortably ahead” of market expectations thanks to booming sales and acquisitions
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NewsMarket reacts positively as Tesco beats expectations despite margin squeeze
Tesco’s margins and profits were hit by shoppers cutting back last year, but the market reacted positively to its tightrope walk between protecting margins and market share
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NewsCity snapshot: Devro delists from stock exchange as £564m takeover completes
Scottish sausage skin maker Devro will delist from the stock exchange today after finalising its £564m takeover by German group Aria.
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NewsMedia Bites 14 April: Tesco, Asda, Sainsbury’s/milk
Britain’s biggest grocer expects flat full-year profits as inflation continues to take a toll on its customers and suppliers
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NewsTesco profits halved amid ‘incredibly tough year’ for consumers
Tesco’s full-year profits have more than halved as lower sales volumes, cost inflation and writedowns of its property and assets due to economic conditions. Plus Science in Sport decides against sale and trading updates from PZ Cussons and Imperial Brands
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NewsMedia Bites 13 April: Planet Organic, Tesco, British growers
Holland & Barrett is weighing a last-ditch rescue bid for Planet Organic, according to media reports this morning.
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NewsRicky Gervais invests in canned water brand Cano Water
UK canned water market leader Cano Water has received multimillion-pound funding from investors including the comedian
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NewsPerkier smashes new crowdfunding round
The snack bar brand plans to use the money to increase digital marketing and push trade marketing investment
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NewsGenius Foods secures refinancing to invest in factory
The business has raised funds to improve efficiency and production lines in its bakery based in Bathgate, Scotland
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NewsMedia Bites 12 April: Sainsbury’s/Nectar, Black Sheep Brewery, UK economy
Sainsbury’s has begun offering lower prices on more than 300 items to members of its Nectar loyalty card scheme in a move that will rival Tesco’s Clubcard scheme
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NewsCity snapshot: Record first-half sales at Treatt as drinks volumes prove resilient
Ingredients manufacturer Treatt has reported a strong start to the year, registering record sales in the first half
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NewsSquirrel Sisters enters 50/50 partnership with GFT Retail
GFT Retail will be responsible for operations, warehousing & logistics and support in marketing and sales for the brand
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NewsFarmison collapses as rescue deal proves out of reach
Most of the 75 employees at the Yorkshire-headquartered company were made redundant on appointment of administrators as the business ceased trading
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NewsCity snapshot: Mother’s Day boosts retail sales, but growth lags inflation
Mother’s Day boosted UK retail sales growth in March, but wet weather and consumers cutting back meant overall growth lagged well behind inflation