Finance news – Page 305
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NewsMedia Bites: ABF/Primark, Supermarket profits, M&S
Coronavirus lockdowns have cost Associated British Foods £800m, with clothing retailer Primark expecting profits to tumble by two-thirds this financial year.
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NewsCity snapshot: June retail sales show modest recovery to highest level since February
June retail sales achieved their best result since February, despite dropping by more than 14%
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NewsVibrant Foods snaps up Cofresh Snack Foods to bolster mainstream push
Exponent-backed Vibrant Foods closed the deal for the Leicester-based bagged snacks group this week for an undisclosed sum
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NewsPret a Manger launches evening dinner menu for delivery
‘Dinners by Pret’ will start deliveries of an evening menu on 7 July from seven shops in London, Nottingham, Cambridge and Bristol, as well as from a new hub kitchen in north west London
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NewsM&S relaunches Sparks loyalty scheme with updated app
The retailer has spent the past nine months redesigning the flagging scheme
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NewsTrade unions slam rocketing number of Covid-19 cases at UK food manufacturing plants
Cases in UK food manufacturing plants have rocketed to more than 600 over the past week
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NewsPipers to take on Kettle and Tyrrells with big four expansion
The PepsiCo-owned brand – which its co-founder said over a decade ago would never be seen in Tesco – has quietly rolled into Sainsbury’s
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NewsMedia Bites 2 Jul: UK supermarkets, Covid-19 recovery committee, job losses
UK supermarkets will miss out on “super profits” as the costs of the coronavirus pandemic hit high, Tesco’s chairman is set to lead a Covid-19 recovery committee and the high street suffers hard day for job losses
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NewsCity snapshot: European Commission objections delay UK trade credit rescue package
The government’s multibillion-pound trade credit insurance rescue package is being delayed by EU state aid rules, causing a cash flow crisis for food and drink wholesalers. Plus, trading updates from ABF, DS Smith, Mitchells & Butlers and Total Produce, and the rest of the latest news from the City.
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NewsTrade credit insurance rescue package delayed by EU state aid rules
Hospitality restart threatened by EU’s delay to government trade credit insurance scheme
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NewsLosses mount at scotch whisky producer Loch Lomond Distillers
For the 12 months to September 2019, the Loch Lomond Single Malt and Glen Scotia producer generated losses of £17.1m compared with £10.1m a year ago
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NewsCity snapshot: Sainsbury’s sales jump but coronavirus profit hit to exceed £500m
Sainsbury’s has reported a double digit grocery sales increase in the first quarter of the year, but warned it expects a profit hit of more than £500m from the coronavirus crisis. Plus, SSP Group plans to cut 5,000 jobs, B&M continues strong COVID trading and all the rest of the latest news from the City.
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NewsMedia Bites 1 July: Deliveroo/Lloyds Pharmacy, Retail admins, UK economy
Plasters and paracetamol will be delivered to households within 30 minutes of being ordered in a tie-up between Lloyds Pharmacy and Deliveroo.
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NewsGood Club hits £600k crowdfunding target to roll out closed-loop packaging system
The business will use the funds for a quicker rollout of its closed-loop system, after having successfully held trials last year across 30 SKUs
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NewsTails.com launches in six more countries across Europe
It is now live in Ireland, Sweden, the Netherlands, Denmark, Belgium and Austria
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NewsCoty buys into $1bn Kim Kardiashian West beauty empire
US consumer group Coty has bought a stake in the cosmetics company of Kim Kardiashian West, valuing the business at US$1bn.
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NewsMedia Bites 30 Jun: UK agriculture, Government borrowing, Waitrose
The UK creates an independent commission to advise on post-Brexit agriculture trade policy, UK borrowing rises by further £50bn and Waitrose opens third London warehouse ahead of Ocado partnership end
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NewsAlkaline water brand Actiph sees sales and exports soar in Covid health boost
The London-based startup reported revenues up 1,000% on Amazon, 800% on Ocado and 300% in smaller online retailers
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NewsGovernment agrees to trade commission to monitor food standards
Farmers claim a trade and standards commission will help ensure the UK’s food standards are upheld post-Brexit