Finance news – Page 88
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NewsCampari CEO Matteo Fantacchiotti unexpectedly resigns after just five months
A leadership transition committee has been formed to seek a replacement for Fantacchiott
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NewsMedia Bites 18 September: Tesco AI, Brexit disaster, choccy horror, Pret success
Tesco is planning apply AI to customer data from its Clubcard loyalty discount scheme to “nudge” shoppers into making healthier choices and reduce waste
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NewsCity snapshot: PZ Cussons profits plunge amid currency devaluation in Nigeria
PZ Cussons has moved a step closer to selling off its troubled African business as the personal care group reveals sales and profits in the past year plummeted. Plus, the latest UK inflation and supermarket growth data, and full-year results from Supermarket Income REIT
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NewsTHG shares crash again as Ingenuity demerger plans revealed
Shares in THG have plunged today, as a warning that profits would be at the low end of forecasts took the shine off plans to split the e-commerce giant into two separate companies
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NewsCampari buys stake in Bunnahabhain whisky brand owner CVH Spirits
CVH Spirits also owns scotch whisky brands Tobermory, Deanston and Black Bottle
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NewsMedia Bites 17 September: Oxford Street, remote working, Amazon, THG, Brexit checks
London’s Oxford Street is to be pedestrianised in a “major regeneration” plan announced by Sadiq Khan
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NewsCity snapshot: THG explores Ingenuity demerger
Ecommerce giant THG is weighing up a demerger of its Ingenuity platform to help strengthen its balance sheet and reinvigorate the embattled stock. Plus, Mcbride reports full-year results, with better-than-expected profits
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NewsHotel Chocolat appoints new UK CEO to replace co-founder Angus Thirlwell
Lysa Hardy’s promotion is the first major change to the retailer’s top ranks following Mars’ £534m takeover in November 2023
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NewsDeliciously Ella to supercharge growth as Hero Group acquires plant-based food brand
Founders Ella Mills and husband Matthew, who is CEO at the healthy snacking brand, will remain with the company under the new owners to lead the next stage of growth
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NewsPilgrims Choice owner Ornua Foods UK sees sales rise in ‘stable’ 2023 accounts
Pre-tax profits remained unchanged at £11.6m on the back of inflation-busting ‘sustainable pricing structures’ said the subsidiary of Irish dairy co-op Ornua
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NewsMash Gang acquired by alcohol-free beverage group DioniLife
Mash Gang’s beers include Chug IPA and Stoop lager
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NewsMedia Bites 13 September: JLP, Tesco, Mars Kellanova, Boots, junk food
JLP reduced pre-tax losses before exceptional items by 91%
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NewsCity snapshot: General Mills offloads North American yoghurt operations to Lactalis and Sodiaal
General Mills has agreed to sell its North American yoghurt business to French dairies Lactalis and Sodiaal for $2.1bn (£1.6bn). Plus, agricultural supplies group Wynnstay appoints new CEO
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NewsFreshways snaps up Pembrokeshire milk processor Totally Welsh Dairy
The deal will see Freshways use Totally Welsh’s new glass bottling plant to supply its doorstep delivery service
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NewsFever-Tree shares lose fizz as mixer brand downgrades sales forecasts
Investors reacted with dismay to a downgrade to full-year forecasts after a damp summer in the UK supressed first-half sales growth
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NewsWaitrose sales up 5% as shopper numbers hit record high
Sales for the 26 weeks to 27 July were up 5% to £3.9m. It said volumes were up 2% while the average cost per items was also up 2%
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NewsFarmison ordered to pay co-founder Pallagi £115K over unfair dismissal
The online meat retailer was bought out of administration by ex-Asda boss Andy Clarke in April 2023
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NewsMedia Bites 12 September: High streets, WH Smith, Post Office, Starbucks
Closures by chemist, pub and bank chains led to almost 2,300 more empty stores on high streets
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NewsJohn Lewis Partnership transformation plan is working, says CEO
A transformation at John Lewis Partnership is “on track” as the retailer reported “a marked improvement” in its first-half results, with strong profit growth at Waitrose. Plus, a damp summer impacts first-half results at Fever-Tree
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NewsPlant-Ex Ingredients secures seven-figure investment from BGF for international expansion
The investment – in return for a minority stake – will help underpin significant international growth for the Bristol-based business, with a particular focus on the US market