Author: Sam Allcock

Kerry Group has completed the sale of its Irish dairy business, Kerry Dairy Ireland, to Kerry Co-Operative Creameries for £414.6 million (€500 million).This significant transaction involves Kerry Dairy Ireland, known for its production of well-loved dairy products such as cheese and spreads that are distributed in both the UK and Ireland. In the previous year, this dairy segment reported net sales amounting to £1.063 billion (€1.283 billion) and an EBITDA of £44.2 million (€53.4 million).The sale is structured in stages, with Kerry Co-Op initially acquiring a 70% stake. Over the following years, the cooperative has the option to purchase the…

Morrisons is taking a significant step forward with a £7 million investment in its newly acquired convenience stores across the Channel Islands, marking a strategic expansion for the retail giant.Morrisons has completed the acquisition of 36 convenience stores in Jersey, Guernsey, and Alderney from SandpiperCI. Following this acquisition, Morrisons plans to rebrand the majority of these locations under its own format, enhancing its presence in the region. The investment will be channelled into the rebranding process and improving store infrastructure, with all but two stores transitioning to the Morrisons brand.Currently, the portfolio includes 19 Morrisons Daily stores, with others operating…

Gary Lineker is leaving Match of the Day, but not the BBC.Lineker will continue hosting FA Cup and 2026 World Cup coverage.He remains involved in popular BBC podcasts.The BBC recognises Lineker’s 25-year contribution to MOTD.Future plans for MOTD to be announced later this year.Gary Lineker, a prominent figure in British sports broadcasting, is stepping down from his role as the presenter of Match of the Day. This decision marks the end of his 25-year tenure on the show, a programme that remains integral to football coverage in the UK, drawing millions of viewers each week.Despite his departure from Match of…

Newly released data from Kantar reveals significant shifts in the retail landscape, with Lidl taking the lead as the fastest-growing supermarket for physical stores over 15 consecutive periods. Simultaneously, Ocado has emerged as the top performer in online retailing during the same timeframe.Lidl has cemented its position as the leading growth retailer, attracting an additional 326,000 shoppers in the 12 weeks leading up to 3 November. Notably, the chain has experienced a 22% increase in fresh produce sales, underscoring its appeal to consumers seeking quality and value.In parallel, Ocado has marked the period with a commendable 9.5% rise in its…

In a notable development within the retail sector, Lidl and Ocado have emerged as the fastest-growing retailers according to recent data from Kantar, marking a significant trend in consumer behaviour.Lidl has reinforced its position as the leading bricks-and-mortar retailer in growth, achieving this feat for the 15th consecutive period. For the 12 weeks leading up to 3 November, Lidl attracted 326,000 additional customers, surpassing all competitors. This surge was led by a remarkable 22% increase in fresh produce sales, showcasing its expanding influence in the market.Meanwhile, Ocado, the online supermarket, recorded the largest growth during this period, with sales increasing…

Zoo Digital experiences a significant revenue increase as Hollywood recovers from recent strikes.The company records a 29% rise in revenue, returning to EBITDA profitability.Salary expenses decrease significantly, improving overall financial health.Expansion into Italy and full operation in India mark strategic growth.Strategic innovations and partnerships highlight Zoo Digital’s adaptive approach.Zoo Digital has reported a substantial recovery in its financial performance following the subsiding impact of Hollywood’s recent strikes. The company’s revenue surged by 29%, climbing from $21.4 million to $27.6 million. Concurrently, the firm returned to an EBITDA profit of $1.6 million for the six months ending 30 September 2024, a…

Majestic Wine continues its store expansion strategy with a new emporium in Plymouth, located within The Range’s head office.The new Plymouth store spans 4,400 square feet, offering over 1,200 wines, beers, spirits, and alternative beverages.This opening marks the sixth new store for Majestic Wine in this financial year, aligned with its growth objectives.Majestic Wine remains committed to enhancing customer experience through physical retail, emphasising community engagement.Organic wine sales at Majestic have shown significant growth, nearly doubling in the past year.Majestic Wine is advancing its growth strategy by opening a new wine emporium in Plymouth, positioned within the premises of The…

Metro Bank has been fined £16m by the Financial Conduct Authority (FCA).The fine is due to inadequate monitoring of over 60 million transactions, valued at £51bn, for money laundering risks.Issues stemmed from an automated system failure that went unnoticed between 2016 and 2019.A fix was implemented in 2019, but problems persisted in transaction monitoring.Other financial institutions face similar pressures to improve fraud prevention measures.The Financial Conduct Authority (FCA) has fined Metro Bank £16 million due to its inability to adequately monitor a significant number of transactions for money laundering risks. This penalty arises from failures occurring over a period from…

Bitcoin has taken the financial world by storm yet again, nearing an unprecedented $90,000 in value. This surge highlights the cryptocurrency’s rapid ascent, impacting global investment strategies. The digital currency’s recent trajectory is influenced by multiple factors, from political shifts to strategic corporate moves. As markets react, investors are keenly watching Bitcoin’s evolving role within the economic landscape.In recent days, Bitcoin’s market performance has defied expectations, driven by President Trump’s electoral victory and strategic corporate investments. This remarkable price increase showcases Bitcoin’s potential as a transformative financial asset. As the global economy adjusts to these changes, Bitcoin’s influence continues to…

Barney Burgess, a former director at Tesco, has been appointed as Asda’s interim vice president of online, commencing immediately.Burgess will oversee Asda.com, George.com, and other online operations teams, directly reporting to Chief Digital Officer Matt Kelleher. His extensive background in retail, consumer, and financial services spans over 25 years, both domestically and internationally.Previously, Burgess managed Tesco’s grocery home shopping segment for five years. During his tenure, Tesco introduced the click-and-collect service for grocery orders in the UK, representing a significant shift in online retail operations.In addition to his experience at Tesco, Burgess also contributed his expertise as a consultant at…