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NewsCity snapshot: Tesco UK sales up 9% amid ‘encouraging’ signs on inflation
Tesco has grown its UK like-for-like sales by 9% in its first quarter as its CEO points to ‘encouraging early signs that inflation is starting to ease’
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Foodservice wholesaler RD Johns’ turnover jumps by 66% in 2022
The improved offering helped the company to bring in £7m of business from new customers across the hospitality, education and care sectors
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City snapshot: Record palm oil production for Dekel Agri-Vision as prices start to soften
Dekel Agri-Vision has reported a softening of palm oil prices as it delivered another “strong” month of soaring production.
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Thorntons back in the black after shift from retail outlets to fmcg
Thorntons has bounced back into profit for the first time since its acquisition by Ferrero in 2015, as it reaped the benefits of shuttering its flagging retail estate
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Costco profits jump 44% to £120.6m in 2022
Fuel sales were improved by the opening of a new petrol station in Watford, which took the business’s total to 19 petrol stations across 29 warehouse sites
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City News: B&M boosted by cost-conscious shoppers as sales soar
The rise of cost-conscious shoppers has bolstered B&M’s annual sales to almost £5bn, sending its share price soaring this week
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Charlie Bigham’s growth surges but input costs hit hard
Charlie Bigham’s has continued its post-pandemic growth surge, but margins have been hit by delays passing on soaring input inflation to retailers and shoppers
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City snapshot: PayPoint profits at top end of expectations after ‘positive’ year
Payments specialist PayPoint has grown revenues by £10m last year and said profits will be at the top end of expectations
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City snapshot: Rémy Cointreau reports profits rise but warns of US slowdown
Rémy Cointreau has reported a double-digit jump in sale and profits last year, but warned sales growth will be wiped out in the current financial year by a sharp slowdown of consumption in the US
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City snapshot: B&M boosted by price-conscious shoppers
Revenues at B&M have jumped 6.6% to £5bn as cost-conscious shoppers turned to discounters to help manage the cost-of-living crisis. Plus, the latest NIQ supermarket till roll data, and trading updates from WH Smith and Bakkavor.
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Reduced shopper spending power hits sales at Spar retailer
The multi-site retailer said it had been exposed to ’the downturn in spending power’ among shoppers in the north west of England
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Bettys & Taylors hit by soaring tea and coffee supply costs
Yorkshire Tea supplier Bettys & Taylors recorded a slowdown in growth last year and profits hit by soaring costs in its tea and coffee supply chain
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M&S impresses City as ‘longest’ turnaround gathers momentum
Marks & Spencer shares jumped to 15-month highs this week on evidence it is finally emerging from what has been dubbed the ’longest turnaround in corporate history’
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City snapshot: Pets at Home posts record sales but margins shrink
Retail group Pets at Home posted record revenues of more than £1.4bn last year, but margins were hit by rising costs and energy prices. Plus trading updates from Fever-Tree and Tate & Lyle
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No sign of ‘greedflation’ in food supply chain, says M&S chief
Stuart Machin’s claim comes as ministers pile pressure on the sector to reign in food price inflation
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City snapshot: M&S food and clothing profits decline
Marks & Spencer has taken a hit on margins as it invested in keeping its food and clothing prices competitive. Plus, food prices remain near 45-year highs, and C&C Group reports annual results.
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City snapshot: Wincanton posts record underlying profits
Wincanton has lifted underlying profits to record levels despite pressure on consumer spending depressing volumes at the logistics group.
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Premier Foods shares surge following upgrade to expectations
Premier Foods shares surged to 12-year highs this week after the ambient supplier beat upgraded expectations
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City snapshot: C&C Group CEO steps down amid €25m hit from software upgrade
C&C Group has announced a change in leadership as it revealed to the City it faces a €25m charge associated with a problematic upgrade of its software for its distribution operations
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City snapshot: Premier Foods profits beat expectations
Premier Foods has posted double-digit annual growth in sales and trading profits as price rises and cost savings mitigated ’exceptionally high’ input cost inflation
