Finance

High street store decline continues to accelerate

High street stores have taken a major hit, with PwC research produced by the Local Data Company finding that 15 stores closed every day in the first six months of this year.

New York Bakery Co scales back pre-tax losses

The New York Bakery Co has steadied its sales and has cut its losses during a strong year.

NFU specialist reminds manufacturers over product recall issues

Paul Shattock, food and drink sector specialist at commercial insurer the National Farmers Union - trading as NFU Mutual - has reminded manufacturers of the importance of risk management to avoid product recall issues on a global scale.

Grocery searches soar across mobile devices

Shoppers searched for groceries on their smartphones 11% more in Q3 2016 compared to the previous quarter, according to Google and the British Retail Consortium (BRC).

Artisan food sales benefit smaller manufacturers

Sales of artisan food have helped smaller and medium-sized manufacturers to grow profit margins to 6.8% of turnover over the past year, according to research by law firm EMW.

Costa continues multiple channel strategy as sales rise

Costa’s total UK retail sales rose 10.1% in the first half of 2016/17 amid total revenue growth for Whitbread of 8.1% to £1.6bn in the six months to 1 September 2016.

Food and Drink International Action Plan: Andrea Leadsom encourages export growth

Secretary of State for Environment, Food and Rural affairs Andrea Leadsom has published the UK Food and Drink: International Action Plan from 2016 to 2020 – outlining the encouragement for export growth in the baking industry.

Hotel Chocolat profits up 90%

Luxury chocolatier and retailer Hotel Chocolat has recorded a massive increase in profits for the year to 26 June 2016, thanks to a focus on the dark side.

Peyton and Byrne goes into administration

Bakery and catering company Peyton and Byrne has gone into administration following the loss of contracts at London’s Kew Gardens and the British Library.

Nick Clegg: ‘Food prices face cliff edge if UK leaves Single Market’

Liberal Democrat politician Nick Clegg has warned that UK food prices will see a steep hike if the government opts for a hard Brexit and leaves the Single Market.

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