All Finance articles – Page 268
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NewsMedia Bites 19 Aug: M&S, Asda, Grocery market share
Marks and Spencer’s cuts 7,000 jobs in the most brutal cull of the UK retail sector since the coronavirus pandemic began causing havoc on Britain’s high streets
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NewsSupermarket sales growth eases as stockpiling subsides
Take-home grocery sales growth slowed to 14.4% year on year during the 12 weeks to 9 August 2020
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NewsLotus Bakeries’ UK snacks brands hit by lockdown sales drop
Nakd, Trek and Bear owner Lotus Bakeries increased sales in the first half of the year despite the coronavirus lockdowns hitting the performance of its UK snacks brands.
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NewsAsda sets sights on one million online delivery slots by next year
The retailer has seen digital sales surge and is expanding its delivery partnership trial with Uber Eats
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NewsGovernment’s trade credit deal to support supply chains given green light
The deal follows the government’s announcement it would underwrite all trade credit insurance to the tune of £10bn
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NewsMedia Bites 18 August: Diageo, Bakkavor, Cranswick
Actor Ryan Reynolds is the latest Hollywood celebrity to strike a deal with Diageo after selling his Aviation American Gin brand to the drinks giant for $610m.
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NewsCity snapshot: M&S to cut 7,000 jobs after Covid clothing and home sales slump
Marks & Spencer has announced it plans to cut around 7,000 roles over the next three months as a result of a “material shift in trade” due to the coronavirus outbreak. Plus, grocery growth slows as shopper behaviour returns back towards normal and all the rest latest news from the City.
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NewsCity snapshot: Meaty sales growth at Cranswick during coronavirus lockdown
Cranswick has upgraded its outlook for 2020 as lockdown and stockpiling sent sales soaring by more than 20% in the first quarter.
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NewsMedia Bites 17 Aug: Tesco, Greencore, Business rates
Tesco is planning to offer free delivery on online grocery orders for members of its Clubcard Plus loyalty scheme as an industry price war intensifies
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NewsWaitrose.com turnover at £1bn ‘run rate’, says James Bailey
It puts Waitrose.com on course to hit a target announced in May last year of tripling its turnover to become a £1bn business within three years
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NewsSurging sales at Just Eat Takeaway.com come at a cost
A flurry of orders from consumers stuck at home saw food delivery giant Just Eat Takeaway.com post surging sales in the first half of the year – but growth came at a substantial cost.
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NewsSupermarket store openings back on course after lockdown
Several major supermarkets this week told The Grocer they had restarted property activity
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NewsSuppliers squeezed as HMRC moves to claw back tax owed
Food manufacturers are being squeezed by the government as HMRC withholds VAT refunds to claw back tax owed, putting thousands of jobs at risk
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NewsCity snapshot: Manufacturers squeezed by the taxman on VAT refunds
Food manufacturers have zero VAT-rated revenues but receive VAT refunds from HMRC for purchases made to their own suppliers
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NewsMedia Bites 14 August: whisky, Greencore, Unilever
The Scotch whisky industry has attacked the UK government for its “inexplicably slow” action against hefty tariffs
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NewsPladis profits soar as global revenues pass £2bn
Profits have soared at McVitie’s owner Pladis Foods after it lifted revenues above £2bn.
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NewsThorntons loses £35m as sales drop amid retail closures
Chocolatier Thorntons lost a further £35m last year, taking its total losses to more than £100m since being bought by Italian confectionery giant Ferrero
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NewsMedia Bites 13 August: Just Eat, M&S, Eat out to help out
The lockdown led to a boom in sales for Just Eat Takeaway.com, which attracted a record number of new restaurants and customers in the first half of the year.
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NewsCity snapshot: Carlsberg posts double-digit sales and profits drop amid lockdown closures
Carlsberg has posted an 12.6% drop in first half revenues and a double-digit fall in operating profits as the coronavirus pandemic hammered its second quarter sales.
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NewsPlant-based meat producer This smashes through fundraising target to net £3.8m
Fast growing plant-based meat alternatives player This has raised almost £3.8m of new funding following the public launch of a convertible bond offer on crowdfunding platform Seedrs.