Greencore gets takeover interest October 25, 2011 Shares in Irish food group Greencore jumped almost 10 per cent yesterday after it revealed a preliminary takeover approach from an unnamed company. Greencore, whose merger with Northern Foods fell through in March, bought rival Uniq in July to improve its ties with Marks & Spencer. The maker of Weight Watchers meals and Bisto gravy [...]
Pub chief Ian Dyson to exit in high spirits October 20, 2011 IAN DYSON, chief executive of Spirit, the managed pub operator that demerged from Punch Taverns this year, will step down as chief executive on 16 December and hand the reins to his deputy, Mike Tye. The former Marks & Spencer finance chief was parachuted in to run Punch Taverns in September last year and decided [...]
High street brands in fight for middle ground October 11, 2011 ACCORDING to YouGov’s Household Economic Activity Tracker, 55 per cent of UK consumers are more price conscious than they were a month ago, compared to only two per cent who are less price conscious than in September. With the uncertainty about the economy continuing and people keen to make sure they are not overspending, winning [...]
Lastminute trims losses October 10, 2011 ONLINE travel firm lastminute.com has cut its losses despite suffering a grim year caused by the volcanic ash cloud and strikes by airline crews. The private equity-owned firm increased turnover by 6.45 per cent to £49.14m and cut costs as it tackled the consumer spending slump. Operating losses narrowed 77 per cent to £10.26m, according [...]
THE TIPSTER October 9, 2011 THOUGH Premier Foods served up a healthy slice of humble pie for investors with the profits warning last week, can this mark a turning point for the company? With mounting debts and falling sales it is certainly in something of a pickle so pressure will build to move ahead with the disposal of peripheral brands [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 3, 2011 FINANCIAL TIMES M&S ASKS SUPPLIERS TO AID STORE REVAMPS Marks and Spencer has asked its top clothing suppliers for a multimillion-pound contribution to its store revamp plans and a step-up in advertising. At a gathering on Friday of M&S’s top 60 clothing and homewares suppliers, Marc Bolland, chief executive, asked them for a one-off contribution [...]
Short sellers aim for Next and Glencore on FTSE 100 October 3, 2011 FASHION retailer Next was the most shorted stock on the FTSE 100 in September as investors bet its share price would be dented by further pain on the high street, data from Data Explorers yesterday showed. Investors, primarily hedge funds, borrowed close to eight per cent of Next’s shares to take short positions as retail [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 27, 2011 FINANCIAL TIMES ANADARKO SOUNDS OUT BRAZILIAN BUYERS Anadarko Petroleum has asked advisers to sound out potential buyers for a collection of its Brazilian oil assets in a deal that could be worth up to $5bn, in the latest attempt by oil and gas explorers in the region to attract investment. The US independent oil and [...]
High Street boosts discounts September 25, 2011 HIGH street retailers stepped up the battle to win over cash-strapped shoppers this weekend by slashing prices and launching promotions, days after Britain’s supermarkets announced fresh price cutting campaigns. Top fashion retailers including Next and Gap launched a two day “flash sale” over the weekend, with items discounted at 50 and 30 per cent respectively [...]
Look East to the new destination for pilgrims who shop September 13, 2011 BORIS Johnson reached for the cultural high notes at the opening of Westfield Stratford City: boasting that the new shopping centre would trigger regeneration not seen in East London since the Middle Ages, he quoted Chaucer’s Canterbury Tales, in which Madam Eglantine the Prioress spoke French “after the school of Stratford-at-Bow, for French of Paris [...]