Finance news – Page 374
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NewsYo Sushi acquires US rival Snowfox to ramp up retail efforts
The UK Sushi company merged with Snowfox to fuel its push into retail sales.
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NewsCity snapshot: Sainsbury’s first quarter sales slide amid non-food slump
Sainsbury’s like-for-like sales fell by a further 1.6% in the 16 weeks to 29 June to put further pressure on CEO Mike Coupe after its failed merger with Asda. Plus, PureCircle issues profits warning, shop prices drop but food inflation holds steady and all the rest of the latest news from the City.
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NewsMedia Bites: Tesco/Brexit, Majestic Wine, Sin taxes
Tesco chief executive Dave Lewis has told the BBC that planning for the new Brexit deadline of the end of October will be more difficult because the supply network will be full of Christmas stock.
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NewsBrewDog looks abroad despite first profit setback
The craft brewer is targeting further expansion despite posting its first annual loss in 2018
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NewsSainsbury’s trials WH Smith drinks supply in wholesale move
About 50 products will be available for customers to purchase from WH Smith at Victoria railway station
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NewsCity snapshot: CapVest finally agrees deal to buy Young’s Seafood
Private equity investor CapVest has finally won the long running bidding process for seafood specialist Young’s and will place it in an enlarged Karro Food Group. Plus, Morrisons restates first-half and full-year restated 2018/19 results on a IFRS 16 basis and all the rest of the latest news from the City.
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NewsAs Nature Intended back in the black as it plots future expansion
Health and organic food retailer As Nature Intended swung to a pre-tax profit in 2018 despite having to shut down one of its main London shops in a refurbishing programme.
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NewsCapVest-owned Karro acquires Young’s Seafood
Karro Food Group, the pork processor owner by private equity investor CapVest, has agreed terms to buy UK seafood business Young’s.
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NewsBespoke supplements brand The Nue nets $9m investment to accelerate growth
The Nue plans to use the capital raised to grow its direct-to-consumer offering and expand product range.
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NewsScottish dairy business McQueens to create 100 jobs in ‘ambitious’ expansion push
McQueens Dairies has revealed an “ambitious” multi-million expansion plan which will see the creation of up to 100 new jobs within two years.
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NewsBooker retail MD to take on Motor Fuel Group role
Fox will start his new role as MD of retail with the forecourt operator on 1 September
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NewsClive Schlee to step down as Pret a Manger CEO
Schlee has overseen a tenfold rise in sales, helping Pret become a billion-pound business with over 550 shops
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NewsCity snapshot: UK growth stalls amid stagnant economy and Brexit uncertainty
UK economic conditions remained stagnant in the second quarter of the year amid a fall in manufacturing output and the impact of ‘relentless Brexit uncertainty’, according to the British Chambers of Commerce.
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NewsMedia Bites 1 July: Sainsbury’s, Brexit, AB InBev
Sainsbury’s boss Mike Coupe has said pressure on retail means mergers are inevitable — months after his £14bn move for Asda was blocked by regulators.
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NewsThorntons sales continue to slip in second year under Ferrero
Newly filed accounts at Companies House show Thorntons’ sales fell 3.3% to £135.2m in the 53 weeks to 31 August
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NewsFreed Foods secures funding to support growth in gluten-free market
The London-based brand, trading as Mister Free’d, issued £1.5m worth of new shares last week
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NewsParfetts hails turnaround of ex-Blakemore depot
The cash & carry operator bought the Middlesbrough depot in June 2018
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NewsCity snapshot: UK consumer confidence continues to fall in June
UK consumer confidence fell back once more in June, with all five measures of GfK’s consumer confidence index falling back and pointing to a ’turbulent’ summer.
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NewsMedia Bites 28 June: Greene King, Boots, Sugar content
The new chief executive of Greene King used his first set of results to commit the company to brewing, dismissing suggestions that he might follow Fuller’s in selling its beer business.
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NewsAmber Beverage buys UK drink distributor Cellar Trends in push for global growth
Spirits producer Amber Beverage Group has acquired UK booze distributor Cellar Trends, pressing ahead with its international expansion plans.