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Food giants are strangling Britain’s farmers and consumers. What’s the solution? Break them up | Nicholas Shaxson

The Guardian: Mergers & Acquisitions

The problem is our monopolised food system. Think of it as a vast profit machine shaped like an hourglass, with many food producers at the top, millions of consumers at the bottom, and a few dominant firms – such as giant supermarkets or global food traders – clustered at its narrowing neck, siphoning a cut from the passing traffic.

Food 111
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AB Foods raises profit outlook as Primark gets summer boost

Global Banking & Finance

AB Foods raises profit outlook as Primark gets summer boost By James Davey LONDON (Reuters) -Associated British Foods raised its full year profit outlook on Monday with its Primark fashion business boosted by warm weather kicking in across its European markets and its food unit trading well.

Food 52
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Goldman says a quick profit can be made before year-end with an options bet against this stock

CNBC: Investing

Goldman Sachs sees an options trade opportunity in this food products stock.

Stock 106
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Oppenheimer says this pet food stock could rise more than 25%

CNBC: Investing

Buy this pet stock as company management makes progress toward profitability, Oppenheimer says.

Stock 98
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Online wholesaler Boxed acquired after filing for bankruptcy

TechCrunch: M&A

At the time, Boxed had more than 7 million registered users and reported it was close to profitability. Other food delivery services have shut down or announced layoffs, including in particular fast-delivery services like Food Rocket’s 2023 closure and Gopuff’s multiple rounds of cost-cutting, among others.

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Primark and groceries fuel profits at Britain’s AB Foods

Global Banking & Finance

By James Davey LONDON (Reuters) – Associated British Foods said it was well set-up for medium term growth, as it reported a 32% rise in full-year profit, driven by robust performances from its Primark clothing business and grocery division.

Food 40
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Mr Kipling maker Premier Foods expects profit at top end of market view

Global Banking & Finance

Mr Kipling maker Premier Foods expects profit at top end of market view (Reuters) -Premier Foods on Thursday forecast full-year profit at the top end of market expectations after the company reported higher sales for the first quarter.

Food 40