All Finance articles – Page 346
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NewsMedia Bites 27 Sep: Vaping crackdown, Kraft Heinz/Mondelez, Shop Closures
The US crackdown on vaping has wiped £7bn off the share price of The UK’s tobacco giants as panicked traders rushed to a sell-off the sector.
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NewsBurts Snacks sales jump 50% following popcorn acquisition and organic growth
Burts annual sales jumped in 2018 but the company swung to a pre-tax loss of £608k due to rising costs
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NewsBranston owner Mizkan Euro expects redundancies after losing key contract
Branston pickle and chutney maker Mizkan Euro has announced the loss of a “significant” private brand contract that will likely result in a programme of redundancies
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NewsRawtenstall Jack’s store to close and revert to Tesco
Rawtenshall has been trialled as a bulk-buy format, sparking speculation the chain could morph into a cash & carry-style proposition
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NewsImperial Tobacco warns of vaping crackdown hit on profits
Imperial Brands has warned investors that a “challenging” US market for vaping products and weaker than expected performance in its Africa, Asia and Australasia business will hamper full year revenue and earnings growth.
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NewsMedia Bites 26 Sep: Philip Morris/Altria, Sainsbury’s, Tesco/Jack’s
The $200 billion merger between two of the world’s biggest tobacco companies has been called off because of mounting regulatory scrutiny of the vaping market.
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Comment & OpinionSainsbury’s shake-up has echoes of Tesco’s fightback - and it just might work
Mike Coupe’s ‘plan A’ could result in Sainsbury’s becoming more competitive
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NewsVegan ready meal maker The Brook smashes crowdfunding target on first day
The Brook will use the funds raised to increase brand awareness, make “key hires” and scale production in pursuit of further expansion within UK grocers
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NewsSainsbury’s announces store closures as it targets £20m net operating profit boost
The closures are to include supermarkets, convenience stores and Argos outlets, as part of a store estate review
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NewsPladis appoints PepsiCo veteran David Murray as UK & Ireland MD
Murray’s responsibilities will include leading the UK & Ireland team
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NewsCity snapshot: Sainsbury’s stems sales slowdown amid store estate shake-up
Sainsbury’s has posted a small 0.2% drop in second quarter like-for-like sales (ex fuel), while announcing it plans to axe as many as 125 stores across its supermarkets, convenience stores and Argos outlets amid 200 openings.
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NewsMedia Bites 25 Sep: M&S, AG Barr, Hotel Chocolat
Marks & Spencer is parting ways with yet another director as Gordon Mowat, head of supply chain and logistics for the firm’s troubled clothing and home arm, has been pushed out after two years in the role.
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NewsFentimans profit growth hit by sugar tax and Brexit stockpiling despite sales jump
The premium soft drinks producer saw gross profits rise 14% last year but the growth was softened by costs associated with the sugar tax and Brexit stockpiling
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NewsBlue-chip fmcg companies among top 10 on sustainability
Fmcg companies and retailers are leading the fight against climate change among blue-chip companies, with Unilever, M&S and Tesco ranking among the top 10 most sustainable businesses
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NewsSodaStream chairman Birnbaum arrested on suspicion of insider trading
He was detained for questioning yesterday and later released after posting a 1.2 million shekel (£270k) guarantee
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Comment & OpinionOcado vs TDP: the claims explained
Explosive court documents detail the litigation between Ocado and Jonathan Faiman’s TDP
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NewsHenderson Wholesale reports rocketing sales and profits
The company-owned stores division, Henderson Retail posted a 12% increase in turnover to £384m and a 12.9% jump in pre-tax profit to £8.7m
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NewsCity snapshot: Hotel Chocolat annual sales and profits jump amid global expansion plans
Hotel Chocolat has shrugged off “economic headwinds” on the UK high street to post a 14% full year sales surge and a 9% rise in underlying earnings. Plus, sales and profits drop at AG Barr after “disappointing” first half and all the rest of the latest news from the City.
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NewsMedia Bites 24 Sep: Ocado/TDL, Tesco/Food waste, M&S
The company at the centre of an extraordinary legal dispute involving some of the UK’s best-known retailers has hit out at Ocado, accusing the retail technology company of over-reacting to its attempts to poach key executives
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NewsProduct recall leads to administration for Thomas Tucker
Popcorn supplier Thomas Tucker has called in administrators after a food safety recall caused a cash shortfall in the business.