All Finance articles – Page 429
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NewsPoundworld to close 117 stores by 31 August under terms of CVA
A document seen by The Grocer lays out details of a rescue plan for the ailing variety discounter, following a below expectation Christmas trading period and stock availability issues resulting from the loss of credit insurance for suppliers
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NewsCity snapshot: Stronger pricing boosts bottom line at Tate & Lyle
Tate & Lyle has posted a 23% jump in full year pre-tax profits despite falling sales of its key Sucralose sugar substitute product as improved pricing boosted margins. Plus, PayPoint posts a rise in annual sales and profits, driven by increased retail penetration, Tesco and Booker director takes chairman role at C&C Group and all the rest of the latest news from the City.
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NewsMedia Bites 24 May: M&S, Britvic, Dairy Crest
The papers are full of the woes of Marks & Spencer this morning, after the UK retail stalwart posted a 62% plunge in annual profits yesterday.
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Comment & OpinionM&S needs food innovation – and fast
The high street is in structural decline, but the issues at M&S run deeper than that
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NewsAF Blakemore's Gateshead depot sold to UWG
The deal protects the jobs of 45 existing members of staff and will see the depot move to new ownership in June
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NewsBritvic eyes low sugar opportunities after factory closure dents first half earnings
Robinsons maker Britvic has said an increased focus on low and no sugar brands could work to its advantage after a first half which was impacted by the closure of its Norwich factory.
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NewsChris Kirke takes over from Janet McCollum as Moy Park CEO
Ex-boss of Greencore’s US division hired to ‘drive accelerated growth’ says owner Pilgrim’s Pride
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NewsFood & drink companies miss PHE sugar reduction targets
Figures released by PHE today showed there had been an overall 2% reduction in sugar from a 2015 baseline, well short of the 5% target for the first year of the programme set in March last year
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Comment & OpinionAlgo-trading is a threat grocery has to take seriously
Markets such as cocoa and coffee are being targeted by short-term investors using computer-driven algorithmic trading, warns Violeta Stevens of Union Hand-Roasted Coffee
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NewsM&S profits plunge 62% amid store closure costs
Marks and Spencer’s pre-tax profits have plunged by 62.1% to £66.8m for the year, with performance hit by tightening food margins and the cost of store closures.
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NewsMedia Bites 23 May: Tesco, Sainsbury's, Costa Coffee
Numerous papers are this morning covering the news that Tesco will be closing its non-food website Tesco Direct, putting around 500 jobs at risk.
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NewsExport growth boosts annual sales at Cranswick
Fresh food supplier and producer Cranswick saw sales jump 17% for the year, boosted by strong growth in the export market.
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NewsMarks & Spencer to close more than 100 stores by 2022
M&S said the closures were in line with its target to take at least a third of sales online and here will also be 15 fewer Simply Food stores opening this year as it scales back its Food business plans
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NewsBurnley shakes up Asda management with Nick Jones appointment
The move will allow CMO Jesús Lorente to focus on the food side of the business
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NewsCity snapshot: Greencore beats expectations despite £18.1m first half loss
Food-to-go manufacturer Greencore has suffered a “challenging” first half of the year, impacted by its struggling US business, but its figures this morning were ahead of analysts’ expectations. Plus, strong exports help boost Cranswick’s annual sales by 17%, Ocado on the rise again and all the rest of the latest news from the City.
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NewsMedia Bites 22 May: Sainsbury's, Ocado, Tesco
More than 100 MPs have signed a letter criticising changes to Sainsbury’s staff pay that threaten to leave as many as 13,000 employees worse off.
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NewsPoundland links with Greencore for chilled food supply deal
Previous chilled and fresh supplier Kerryfresh fell into administration in March
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NewsWincanton shows 'robust' growth in profits
Logistics operator signed deals with Ikea and Wilko last year
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NewsJohn Menzies upbeat despite distribution arm sale delay
Menzies said it remained fully engaged with a number of potential buyers
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NewsCity snapshot: International investment in UK food and drink on the rise
Overseas-owned companies make up almost half of UK food and drink sales, according to study by law firm EMW. Plus, UK food and drink investment surges to mitigate Brexit finds BDO, two new non-exec directors at M&S and all the rest of the latest news from the City.