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Retailers demand more action from EU to resolve Red Sea crisis

Retailers demand more action from EU to resolve Red Sea crisis LONDON, Feb 16 (Reuters) - European retail industry body Eurocommerce called on European Union institutions and member states to resolve the Red Sea crisis that has disrupted trade, saying in a letter to Belgium's foreign minister that it has already had "massive impacts" on businesses.
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UK's M&S adds Puma and Reebok to external brand offer

UK's M&S adds Puma and Reebok to external brand offer LONDON, Feb 15 (Reuters) - British retailer Marks & Spencer MKS.L said on Thursday it has teamed up with Puma PUMG.DE and Reebok as it looks to bolster its offering of external brands. M&S said over 140 products from the sportswear brands will be added to its website over February and March. The retailer launched its "Brands at M&S" strategy in 2021 to attract more younger shoppers, with the move helping its ongoing turnaround.
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How companies are responding to attacks on ships in the Red Sea

FACTBOX-How companies are responding to attacks on ships in the Red Sea Adds Akzo Nobel, TotalEnergies Feb 9 (Reuters) - Attacks on vessels by Iranian-backed Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels.
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Sainsbury's, Barratt drag FTSE 100 lower

UPDATE 2-Sainsbury's, Barratt drag FTSE 100 lower For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Sainsbury's falls after strategy update Barratt to buy rival Redrow in 2.52 bln pound deal PZ Cussons sees lower annual profit FTSE 100 down 0.7%, FTSE 250 off 0.4% Updated at 1654 GMT By Sruthi Shankar Feb 7 (Reuters) - Britain's blue-chip stock index fell on Wednesday amid investor worries about supermarket group Sainsbury's big spending p
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M&S's UK food business makes strong start to 2024 -NIQ

M&S's UK food business makes strong start to 2024 -NIQ LONDON, Feb 6 (Reuters) - Marks & Spencer's MKS.L food retail business built on 2023's strong sales momentum in the early weeks of the new year, UK industry data showed on Tuesday. Market researcher NIQ said M&S 's grocery sales rose 11.6% in the 12 weeks to Jan. 27 year-on-year, second only to German-owned discounter Lidl, where sales rose 13.2%, as Britain's fastest growing grocer.
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British Business - Feb 6

PRESS DIGEST-British Business - Feb 6 Feb 6 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - The group director of human resources at Marks & Spencer MKS.L has joined calls for an overhaul of the apprenticeship scheme as businesses urge the government to prioritise skills over tax cuts in the budget next month.
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How companies are responding to attacks on ships in the Red Sea

FACTBOX-How companies are responding to attacks on ships in the Red Sea Adds Adidas, updates Shell, Electrolux Feb 2 (Reuters) - Attacks on vessels by Iranian-backed Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels.
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Street View-Phillips 66 strong refining margins fuel optimism

BUZZ-Street View-Phillips 66 strong refining margins fuel optimism ** Refiner Phillips 66 PSX.N on Wednesday beat quarterly profit estimates, helped by strong refining margins and gains from its midstream unit ** PSX shares marginally up premarket OPTIMISM ON REFINING ** TD Cowen ("Outperform", PT: $150) says expects refining operations to improve
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How companies are responding to attacks on ships in the Red Sea

FACTBOX-How companies are responding to attacks on ships in the Red Sea Adds Valero, Levi Strauss, Edison, updates Essity, Jan 29 (Reuters) - Attacks on vessels by Iranian-backed Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels.
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FTSE 100 ends flat as insurers overshadow miners boost

UPDATE 2-FTSE 100 ends flat as insurers overshadow miners boost For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Miners rise after talks of China stimulus AB Foods climb after results Crest Nicholson up on encouraging outlook FTSE 100 flat, FTSE 250 off 0.4% Updated at 1650 GMT By Sruthi Shankar and Shubham Batra Jan 23 (Reuters) - The UK's FTSE 100 was little changed on Tuesday as gains in metal miners were offset by losses in non-life i
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Primark hopeful customers won't notice Red Sea disruption in stores

UPDATE 1-Primark hopeful customers won't notice Red Sea disruption in stores Says has experience dealing with supply chain issues Regularly speaking to Maersk at a senior level Expects to see increased surcharges from Maersk If disruption continues will place earlier orders with suppliers Adds more comments from AB Foods finance chief paragraphs 6 to 11 By James Davey LONDON, Jan 23 (Reuters) - Associated British Foods' ABF.L Primark clothing business is currently coping with disruption to Red S
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Primark's sales growth slows in Christmas quarter

UPDATE 3-Primark's sales growth slows in Christmas quarter Primark Q1 like-for-like sales up 2.1%, total sales up 7.9% Does not expect significant disruption from Red Sea situation Group still expects "meaningful progress" in 2023/24 profit Shares up 1.3% Adds finance chief comment paragraphs 4 and 5, shares paragraph 10, story link paragraph 2 By James Davey LONDON, Jan 23 (Reuters) - Associated British Foods ABF.L said underlying sales growth slowed at its Primark clothing business in the Chri
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UK meat producer Cranswick upbeat on annual profit after strong Christmas sales

UPDATE 1-UK meat producer Cranswick upbeat on annual profit after strong Christmas sales Adds sector context in paragraph 2 and company comment in paragraph 3 Jan 18 (Reuters) - British meat producer Cranswick CWK.L forecast annual profit ahead of its previous expectation on Thursday, helped by stronger-than-expected trading in the Christmas quarter.
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'From boom to gloom' - BofA sees more challenging 2024 outlook for EU apparel retailers

BUZZ-'From boom to gloom' - BofA sees more challenging 2024 outlook for EU apparel retailers ** BofA Global Research sees a more challenging 2024 outlook for European apparel retailers after "exceptional" last year as slower revenue growth and higher costs will cap margin uplift ** The broker cuts five stocks in its coverage and now has nine out of 12 on "underperform" or "neutral" rating ** Among its 2024 themes it names pricing headwind and limited volumes growth, an "alarming signal" on consu
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Britain's Ocado Retail pauses new sites for two to three years

UPDATE 1-Britain's Ocado Retail pauses new sites for two to three years Hatfield site closed in 2023, Luton opened Two planned sites were "paused" in 2022 Expects volume growth to fill capacity Adds detail on market, paragraphs 4 and 5, analyst comment paragraph 6 By James Davey LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail is operating at about 75% of its capacity and does not expect to open any new robotic warehouses in the UK for two to three years, its boss said on Tuesd
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Britain's Ocado Retail won't open new sites in next 2 to 3 years -CEO

Britain's Ocado Retail won't open new sites in next 2 to 3 years -CEO LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail is currently operating at about 75% of its capacity and does not expect to open any new robotic warehouses in the UK for two to three years, its boss said on Tuesday. "We're not expecting to open, or close, or change any sites in the near term," CEO Hannah Gibson told reporters, adding she expected growth in volume, or number of items sold, to continue to fill
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UK's Ocado tops FTSE after record Christmas retail sales

BUZZ-UK's Ocado tops FTSE after record Christmas retail sales ** Shares of Britain's Ocado Group OCDO.L up 5.4% to 652.6p; top gainer on FTSE 100 .FTSE index ** Ocado Retail, co's JV with Marks & Spencer MKS.L , saw record sales over peak Christmas trading period, with overall sales increasing 7% from Dec. 20 - Dec. 24. ** Q4 retail revenue up 10.9
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Ocado Retail CEO: Red Sea disruption impact will be minimal

Ocado Retail CEO: Red Sea disruption impact will be minimal LONDON, Jan 16 (Reuters) - The chief executive of Ocado Retail said she is not expecting to see much impact on the British online supermarket from disruption to shipping in the Red Sea. Ocado Retail is a 50:50 joint venture between Ocado Group OCDO.L and Marks & Spencer MKS.L . Reporting b
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Britain's Ocado Retail returns to positive earnings in 2022/23 year

UPDATE 2-Britain's Ocado Retail returns to positive earnings in 2022/23 year Q4 2022/23 revenue up 10.9% Hit highest ever level of sales over Christmas peak Sees revenue growth in 2023/24 in "mid-high single digits". Adds detail on outlook paragraphs 2 and 9 By James Davey LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail said on Tuesday it would return to positive earnings for the 2022/23 year after revenue growth accelerated in its fourth quarter as it won more customers.
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Britain's Ocado Retail returns to positive earnings in 2022/23 year

Britain's Ocado Retail returns to positive earnings in 2022/23 year LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail said on Tuesday it would meet its forecast of a return to positive earnings for its full 2022/23 year after reporting fourth quarter to Nov. 26 revenue growth of 10.9%. The business, a 50:50 joint venture between Ocado Group OCDO.L and Marks & Spencer MKS.L , also said it hit its highest ever level of sales over the peak Christmas trading period.
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