Latest financials news and analysis articles RSS feed

Food manufacturers and retailers crunch their latest numbers

“60% of the Somerfield acquisition will be divested” - PennycookUPDATE: UK: Co-op to sell 60% of Somerfield estate in convenience drive

17 April 2014

The Co-operative Group will sell around 60% of the space it acquired as part of the 2009 acquisition of Somerfield as the embattled UK grocer increases its focus on its core convenience estate.

US: Snacks help PepsiCo beat Wall St forecasts

17 April 2014

PepsiCo reported first-quarter top and bottom lines that beat Wall Street estimates today (17 April), helped by solid growth from the US group's snacks business.

UK: Co-op sees "heavy losses" but food improving

17 April 2014

The Co-operative Group today (15 April) reported "heavy losses" after a "disastrous" year in 2013 but insisted a strategic shift at its food retail arm had resulted in an improving performance.

IRELAND: Profits up at The Irish Dairy Board

17 April 2014

Higher sales from consumer foods and from ingredients have helped annual profits increase at The Irish Dairy Board.

US: B&G lifts outlook on recent deal despite Q1 profit slip

17 April 2014

US ambient food manufacturer B&G Foods booked saw a drop in first-quarter earnings as higher costs offset sales gains in the period.

Quote, unquote: just-food's week in words

17 April 2014

Tesco's full-year results proved disappointing, as expected, and CEO Bill Stritz has said online retailing has played a huge part. Elsewhere first quarter results were out and Co-op saw heavy losses. It has now decided to get rid of some of the Somerfield stores and focus on its convenience offering. There were developments on the Michael Foods acquisition with Post Holdings announcing it had taken over the firm in a US$2.45bn deal. Other acquisitions this week included Daelman's purchase of UK firm Fabulous Bakin' Boys and PE firm Abraaj's acquisition of North African confectioner Kool Foods.

Editor's choice: the highlights on just-food this week

17 April 2014

Tesco was in the spotlight this week after the publication of its annual results confirmed what a challenging year the UK's largest retailer endured. Another UK grocer under scrutiny is The Co-operative Group, which reported banking-induced losses, but revealed it is re-sizing its food retail estate to give it more focus. Elsewhere, China's WH Group, of which Smithfield Foods is now a part, announced plans to list in Hong Kong and US group Post Holdings made another M&A move, with a deal to buy egg-to-dairy supplier Michael Foods.

RUSSIA: Retailer Lenta posts 14% rise in Q1 LFL sales

17 April 2014

Russian retailer Lenta has announced a 13.6% increase in like-for-like sales for the first quarter of the year.

NETHERLANDS: Sligro food retail sales trail market

17 April 2014

Netherlands-based retailer Sligro Food Group has seen first-quarter sales growth at its food retail business trail the market amid intensifying price competition.

US: High commodity costs weigh on Michael Foods

17 April 2014

US egg-to-dairy supplier Michael Foods, which looks set to be taken over by Post Holdings, has indicated pressure from commodity prices has affected its first-quarter EBITDA.

US: West Coast, overseas sales boost Armanino

17 April 2014

US pasta-to-pesto manufacturer Armanino Foods of Distinction has reported "record" first-quarter sales and profits.

UK: Tesco FY profit slides on lower sales, margins

16 April 2014

Tesco booked a near 7% drop in underlying pre-tax profit in fiscal 2013/14, a year that saw margin dented by investments in creating a "compelling offer for consumers" in a bid to stem the firm's sales decline.

On the money: Tesco admits online cannibalising stores

16 April 2014

Tesco CEO Philip Clarke has conceded the growth of online grocery retailing in the UK has had a negative impact on the performance of its physical stores.

FRANCE: Danone Q1 volumes disappoint in dairy, infant nutrition

16 April 2014

Danone has seen its share price dip this morning (16 April) after reporting first-quarter organic sales that narrowly missed consensus expectations.

What the analysts say: Has Tesco hit rock bottom?

16 April 2014

Tesco reported a disappointing set of full-year numbers with both sales and profits falling this morning (14 April). The UK retail behemoth has faced declining consumer spending and a battle to make its big-box stores relevant. But has the company hit the bottom of its downward curve and will the group's 2014 performance improve? Here is what the City had to say about Tesco's performance.

CANADA: Metro sees sales recover in Q2

16 April 2014

Shares in Metro Inc rose today (16 April) after the Canadian retailer reported improved quarterly sales.

SWITZERLAND: Nestle sees FX offset organic growth

15 April 2014

Nestle has booked a drop in first-quarter reported sales as the top line was dented by currency headwinds that more than offset organic growth due to the strength of the Swiss franc.

S AFRICA: Retailer Pick n Pay mulls Nigeria entry

15 April 2014

South African retailer Pick n Pay has revealed it is looking at ways to enter Nigeria.

SWITZERLAND: Huegli posts 38.8% profit growth for 2013

15 April 2014

Swiss food firm Huegli has recorded profit growth of 38.8% for the full year 2013 at CHF20.8m (US$23.6m).

GERMANY: Exports drive confectioner Halloren in 2013

15 April 2014

German confectioner Halloren has reported higher earnings for 2013 as "record" sales - boosted by exports - helped offset pressure from competition and raw material prices.

JAPAN: Lawson plans 100 "next-gen" c-stores

15 April 2014

Japanese convenience retailer Lawson Inc plans to roll out its new "next-gen" Lawson Mart c-store to more than 100 locations in its new financial year.

Comment: Tesco under rare level of scrutiny

14 April 2014

On Wednesday, Tesco reports its latest set of annual results - and rarely has a major retailer be under so much scrutiny.

FRANCE: Currency exchange weighs on Casino sales

14 April 2014

French retailer Casino has seen a drop in total first-quarter sales despite organic gains as currency translation weighed on the top line.

FINLAND: Atria issues another profit warning

14 April 2014

Finnish food group Atria has issued its second profit warning in four months, pointing to an over-supply of pork and "tougher" competition.

US: Family Dollar to close 370 stores

11 April 2014

US discounter Family Dollar Stores has announced plans to cut jobs and close around 370 under-performing outlets.

RUSSIA: Retailer X5 sees LFL sales accelerate

11 April 2014

Russian retailer X5 Retail Group has reported a 6% rise in like-for-like sales for the first quarter of 2014, a faster rate of growth than seen in 2013.

FRANCE: Carrefour Q1 sales down but meet analyst forecasts

10 April 2014

Carrefour this morning (10 April) posted a mixed set of first-quarter sales that led to group revenue dropping almost 4%, although the decline met analyst expectations.

UK: M&S ekes out LFL food sales growth

10 April 2014

Marks and Spencer today (10 April) reported slowing like-for-like food sales but eked out growth slightly above analyst forecasts.

RUSSIA: Retailer Magnit books 7% in Q1 LFLs

10 April 2014

Russian retailer Magnit saw like-for-like sales rise over 7% in the first quarter of 2014, it said today (10 April).

GERMANY/UK: Suedzucker profit warning hits ABF shares

9 April 2014

German sugar refiner Suedzucker has cautioned operating profit in its current financial year will fall below expectations, a warning that hit shares in rival Associated British Foods.

1

2

3

4

...

175

Next >

Welcome to the home of food information, insight & intelligence

Not a member? Join here