UK: Morrisons to face major restructure after £176m loss
BBC News reports that supermarket chain Morrisons has recorded a loss of £176 million ($292 million) for the year to the end of February which is a decrease in profit of £879 million ($1,458 million) compared to the previous year. While the loss can largely be explained by a one-off writedown of £903 million ($1,499 […]
UK: Ten Motives e-cigarette advert censured over health claim
The Guardian reports that an advert for Ten Motives e-cigarette advert in the UK has been banned after the Advertising Standards Authority (ASA) ruled that its claims to be “the healthier smoking alternative” could not be substantiated. A leaflet from Ten Motives also claimed that “because it contains no tar or cancerous toxins, you can […]
Portugal: Agua De Luso unveils bottled coconut water
Agua De Luso, one of the leading Portuguese bottled water brands, has diversified into the coconut water market. With the launch, Agua De Luso enters a booming market, with some media reports suggesting coconut water sales could top $1 billion globally in the next few years. Announced by the company this month, the new Luso […]
UK: The Saucy Fish Co enters US market
The Saucy Fish Co, the Grimsby UK-based manufacturer that is part of the Icelandic Group, has announced its expansion into the US market through a deal with American supermarket chain Giant, owned by Ahold, the Dutch retail group. The Saucy Fish will be selling its products in 390 US stores and in time for Lent, […]
Germany: Poschl Tobacco Group hires new managing director
With effect from 6 February, Katharina Poschl has replaced her father Dr. Ernst Poschl as one of two managing directors at the leading global snuff company Poschl Tobacco Group. With global market share of about 50% in snuff tobacco, the company also produces pipe and rolling tobaccos. The company’s revenue in 2013 was $634 million. […]
Spain: Simply Market plans to open 40 new franchises in 2014
Granconsumo.tv reports that, if plans come to fruition, the Simply Market chain of supermarkets will expand to 150 outlets in Spain by the end of the year. The chain of supermarkets already owns 119 outlets since launching in 2010 and is planning to expand with the opening of 40 new stores by the end of […]
France: Carrefour records strong profit in 2013, announces investment plans
According to the full year financial results for 2013 published by Carrefour, the leading French grocery retailer booked a rise in profits with a sales increase of 2.5% to €66.9 billion ($91.9 billion) and operating profit up 9.8% to €2.2 billion ($3.0 billion). Major investment over the past 12 months has helped to boost sales […]
UK: Premier Foods Group announces refinancing plan after profit and revenue fall
Premier Foods has announced a detailed plan to recapitalise its balance sheets, including issuing £353m ($588.7m) in new shares, following a drop in its full year profits and revenues. According to Just Food, this injection of capital will help Premier Foods tackle its high debt levels. The group ended 2012 with net debt of around […]
Germany / Belgium: Heinz looks to close two facilities
H.J. Heinz Co. has announced plans to close two facilities in Europe that together employ almost 350 staff, TribLive reports. The two facilities under threat are a factory in Turnhout (Belgium) that produces condiments and other products for restaurants and employs 157 people, and a plant in Seesen (Germany) with 190 workers making fridge packs […]
Spain: Mahou San Miguel expands African presence
Mahou San Miguel, a Spanish brewer, has announced the launch of its Cinco Estrellas brand in Cameroon. The launch is aimed at increasing the company’s presence in the African continent, Mahou’s second biggest market after Europe. According to Granconsumo.tv, Mahou San Miguel Group’s volume sales grew 16% last year in Africa. The company already sells […]