All Finance articles – Page 153
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NewsUnited Wholesale Grocers pre-tax profits slump by 28% despite increased turnover
UWG said the decreased profits could be attributed to lower margin rates, due to a continuous review of its pricing and promotional strategies
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NewsWilliam Reed snaps up Retail Week and World Retail Congress from Ascential plc
It follows William Reed’s acquisitions of The London Coffee Festival and Rethink events businesses
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NewsMedia Bites 3 January: Hospitality, footfall, shop closures
All the retail and fmcg news from the last few days as 2023 gets underway.
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NewsCity snapshot: Aldi festive sales surge 26% to record high
Sales at Aldi through December jumped by 26% to a record high of £1.4bn as Christmas trading was boosted by the World Cup. Plus, Hotel Chocolat agrees new Japanese partnership and post-Christmas footfall rises.
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NewsLucky Saint raises over £10m in ‘record-breaking’ Series A round
The funding round was led by consumer and technology growth investor Beringea and venture capital company JamJar Investments
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NewsHeura announces Waitrose listing in time for Veganuary
The Spanish brand said it had grown its availability in the UK by sixfold in 2022, and that this expansion would help consumers ‘vote with their fork’
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NewsDairy exporter Somerdale sees sales and profit fall slightly post-pandemic
The exporter saw turnover fall by 3.4% to £44.3m. Meanwhile, operating profit and pre-tax profit all fell, by 13% and 12%
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NewsCity snapshot: NWF expands reach with £10m fuel oils deal as H1 trading remains ‘strong’
Specialist fuel, food and feed distributor NWF Group has reported “strong” first-half trading and announced a £10m acquisition in an update to the London Stock Exchange this morning. Plus, Greencore hands Sheffield workers a bumper pay increases ahead of Christmas
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NewsMedia Bites 22 December: fuel prices, Pret, Wilko, THG, Lidl
There’s plenty to digest in this morning’s papers, including claims that supermarkets are ‘heartlessly overcharging’ as fuel hits a festive peak.
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NewsCity snapshot: General Mills upgrades sales and profits guidance as Q2 beats expectations
General Mills has raised full-year forecasts for its top and bottom lines after beating expectations in the group’s second quarter. Plus, Pets at Home appoints former Asda boss Roger Burnley as non-exec.
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NewsMedia Bites 21 December: THG, AG Barr, Amazon
Troubled online beauty retailer THG faces pressure on its cashflow after a leading credit insurer reduced cover to its suppliers.
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NewsMondelez offloads chewing gum assets in US, Canada and Europe to Perfetti Van Melle for $1.4bn
The deal only includes the business in the US, Canada and Europe, with Mondelez retaining its gum holdings across Latin America, Asia, Middle East and Africa.
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NewsCity snapshot: AG Barr snaps up remaining stake in Moma Foods
AG Barr has acquired the remaining minority stake in plant-based milk brand Moma Foods for £3.4m. Plus, Hilton Food Group forms long-term strategic collaboration in Singapore with Country Foods.
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NewsMedia Bites 20 December: Tesco, Asda, footfall
Tesco faces questions about its South East Asian supply chain and Asda is hit by a trolley shortage.
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NewsCity snapshot: British Honey Co losses surge
Losses at the British Honey Co ballooned to £12m in 2021 as a result of a number of writedowns, it was revealed this morning as the distiller and honey producer published long-delayed accounts.
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NewsMedia Bites 19 December: Sainsbury’s, Tesco, energy bills, pigs in blankets
Sainsbury’s boss Simon Roberts has pledged to spend £550m to cut prices and take on Aldi.
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NewsCity news: Poundland owner Pepco posts strong growth despite ‘challenging’ environment
Poundland owner Pepco continued to negotiate the squeeze on consumer incomes this week by posting strong sales and profit growth despite macroeconomic pressures
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NewsMy Fabulosa benefits from non-core moves as disinfectant sales slow
Cleaning disruptor My Fabulosa has overcome the post-Covid slump in disinfectant sales by rapidly expanding its fragranced ranges outside of its core category
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NewsJuvela gluten-free brand snapped up by S-Ventures
Fmcg investment house S-Ventures has acquired gluten-free brand Juvela to expand its portfolio of free-from suppliers
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Comment & OpinionABF still searching for the right recipe to turn around Kingsmill owner Allied
Last month Associated British Foods CEO George Weston admitted pricing alone wouldn’t fix the serial underperformance of its bakery arm