Dominic Bernard

London

Finance Reporter at The Grocer

Reporting for @HRMagazine and @Printweek

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Articles

Kellanova shares slip as antitrust rumours circulate

1 week ago | thegrocer.co.uk | Dominic Bernard

Reports of a “full-scale EU antitrust investigation” into Mars’ $36bn acquisition of Kellanova have cooled excitement for the deal in New York. NYSE-listed Kellanova’s share price slipped to $78.94 at market close on Wednesday, down 1.5% and at its lowest point since the mega-merger was confirmed in August 2024.
Grocery sales flop in latest retail figures

1 week ago | thegrocer.co.uk | Dominic Bernard

A slump in food store sales in May has powered the worst monthly fall in retail sales since December 2023. UK retail sales fell by 2.7% in May, after April’s modest 1.3% growth, according to ONS estimates released this morning (20 June). A drop in supermarket sales of 5% – the largest monthly fall in four years – was behind the slump, largely due to lower sales volumes in supermarkets.
Insomnia Cookies wins further backing for global growth drive

1 week ago | thegrocer.co.uk | Dominic Bernard

Late-night bakery delivery service Insomnia Cookies has secured further investment for its growth drive, including a rollout of more stores in the UK Founded in the US in 2003, the on-demand bakery has accelerated plans to open 1,800 bakeries globally over the next 10 years after winning further backing from investors.
Consumers gain confidence in economy – but not their wallets

1 week ago | thegrocer.co.uk | Dominic Bernard

Consumers’ thawing attitude towards the UK economy has powered a modest two-point boost to their overall spending confidence, according to GfK’s latest barometer. The GfK consumer confidence index increased two points to -18 in June, thanks to improvements in consumers’ opinions of the general economic situation. The bounce was particularly strong when looking forward to the next 12 months, with consumer confidence rising five points to its highest tide so far this year.
Magnavale wins £500m backing for 10-year growth

1 week ago | thegrocer.co.uk | Dominic Bernard

Cold storage firm Magnavale has secured a £500m loan to pursue growth, following the completion of its new 101,000-pallet cold store near Grantham. Invested over the next 10 years by equal partners Legal & General (L&G) and an unnamed US institutional investor, the debt facility will help Magnavale expand its network and undertake further facility improvements. Andrew Lawrence, director of Magnavale and its Luxembourg-based parent company, Sadel, said he was proud to have won the investment.
PerfectTed tops startup ranking with 500% growth spurt

1 week ago | thegrocer.co.uk | Dominic Bernard

Matcha energy drink startup PerfectTed’s staggering growth spurt over the past two years has made it the fastest-growing founder-led startup in the UK. The Dragon’s Den-backed brand has grown more than 25-fold over the past two years, posting a massive 532% two-year CAGR to achieve £8.2m in revenues last year.
Tesco credit rating boost follows strong results

1 week ago | thegrocer.co.uk | Dominic Bernard

Tesco is in good shape to cope with a supermarket price war, according to S&P, leading to an upgrade from the credit ratings agency. The upgrade comes after the retailer’s strong first quarter results, posted on Thursday (12 June). Like-for-like sales at Tesco rose 5.1% to £12.3bn in the first quarter as the supermarket grabbed 28% of market share, sending shares to their highest level in a decade.
Activist investor grabs 5% in ‘attractive’ WH Smith

2 weeks ago | thegrocer.co.uk | Dominic Bernard

Activist investment firm Palliser has revealed it has built up a near 5% stake in WH Smith, calling the retailer an “attractive investment opportunity”. Palliser founder and chief investment officer James Smith told investors yesterday (12 June) that WH Smith’s stock had “consistently underperformed the broader travel and leisure and retail sectors”.
BRC blames ballooning household bills for poor May footfall

2 weeks ago | buff.ly | Dominic Bernard

Total footfall dropped by 1.7% year-on-year, down a whopping nine points from April’s 7.2% upswing, according to BRC and Sensormatic statistics released today (13 June). And while retail park footfall held firm at 0.2% growth, the high street took the brunt of the squeeze as 2.5% fewer shoppers visited. Helen Dickinson, the BRC’s chief executive, said the downturn was “disappointing” after a favourable start to the year and sunny conditions that might have been expected to draw out shoppers.
BRC blames ballooning household bills for poor May footfall

2 weeks ago | thegrocer.co.uk | Dominic Bernard

Total footfall dropped by 1.7% year-on-year, down a whopping nine points from April’s 7.2% upswing, according to BRC and Sensormatic statistics released today (13 June). And while retail park footfall held firm at 0.2% growth, the high street took the brunt of the squeeze as 2.5% fewer shoppers visited. Helen Dickinson, the BRC’s chief executive, said the downturn was “disappointing” after a favourable start to the year and sunny conditions that might have been expected to draw out shoppers.