Shrinkflation: Cadbury reduces size of Dairy Milk bars as inflation pressures hit March 28, 2022 Cadbury has downsized the size of its Dairy Milk sharing bar as it feels the bite of rising costs. Parent company Mondelez said it was shrinking the size of the bars by 10 per cent as it faces inflationary pressures. The chocolate bar will be reduced from 200g to 180g, but still sold at £2. [...]
Domino’s bolsters board with media executive following ‘transformational year’ March 28, 2022 Domino’s has bolstered its board with a media executive, following a “transformational year” for the pizza chain. Former chief strategy officer of Dow Jones & Company Tracy Corrigan will join the board as an independent non-executive director at the beginning of May. Corrigan, previously digital editor of the Financial Times and the Wall Street Journal, [...]
Ted Baker turns down Sycamore’s £250m takeover bid March 28, 2022 Fashion chain Ted Baker has rejected a £250m takeover bid from New York based private equity firm Sycamore. The US firm had tabled a £250m offer for the chain last week, it was reported by Sky News at the weekend. The London-listed retailer confirmed it had rejected two non-binding proposals from Sycamore regarding a possible [...]
Legal & General joins rebel Sainsbury’s shareholders in calling for higher wages March 28, 2022 Legal & General has joined a group of rebel Sainsbury’s shareholders calling for higher wages for staff and are pressuring the supermarket giant into a proposal. The group, which included International and the National Employment Savings Trust, has pushed past the threshold which should see Sainsbury’s put a proposal to shareholders on the issue, The [...]
Profit swells to £6m for Brighton Pier Group after staycation boom and tax reliefs March 28, 2022 Brighton Pier Group said its profit before tax hit £6.6m in its half-year results, as pent up demand from families caused a £4m leap. The amusement park operator said the family entertainment market had been buoyed by holiday makers opting for staycations amid the pandemic. Profit before tax surged beyond the £2.7m sum for the [...]
Tandem Group revenue surges past £40m despite bicycle supply issues March 28, 2022 Sporting equipment supplier Tandem Group has seen revenue jump despite stock availability issues with bicycles. In results for the year to 31 December, revenue increased approximately 10.4 per cent to £40.9m. Its bicycle division finished 12 per cent behind the previous year with stock availability having “proved to be a significant problem throughout the year.” [...]
US private equity powerhouse Sycamore Partners makes £250m bid for Ted Baker March 28, 2022 US private equity group Sycamore Partners has reportedly made a formal £250m offer for the fashion chain Ted Baker.
Boots IPO still possible if private equity firms do not cough up, says owner March 27, 2022 One of the owners of high street chemist Boots says floating the chain as a standalone firm is not off the table if private equity firms do not cough up a suitable bid.
Weekend Read: Four is the new five as most workers push for four day week on same pay March 27, 2022 Three in four UK office workers prefer a four-day working week over five days, while offered the same salary with the same amount of work needed, according to a new report shared exclusively with City PM today. Individuals and some businesses have embraced diverse flexible working models over the past two-years, giving rise to the [...]
Co-op heralds first female CEO as Steve Murrells steps down March 25, 2022 Co-op Group CEO Steve Murrells is to step down, paving the way for the supermarket’s first female boss. Shirine Khoury-Haq, who currently holds the role of group CFO and CEO of Co-op Life Services, will become interim CEO this spring. Exiting boss Murrells will step down after the supermarket’s AGM in May and said the [...]
