Latest news with #CathedralCity
Yahoo
13 hours ago
- Business
- Yahoo
Saputo's UK operations aid margins but European outlook tempered
Saputo's rejig of its UK operations is starting to pay dividends on margins in Europe but the dairy giant indicated they will not return to historical levels. Discussing fourth-quarter and full-year results with analysts last week, president and CEO Carl Colizza suggested the worst of the input-cost inflation pressures felt in the UK are behind the Cathedral City cheese brand owner. While Canada-headquartered Saputo does not break down the constituent components of its European operations in terms of individual markets, the UK is a key territory for the company following the 2019 acquisition of Dairy Crest. That deal took in the Cathedral City, Clover and Country Life brands, a business that generated revenues of around £457m ($619.6m at today's rate) in 2018. Saputo's European division delivered an adjusted EBITDA margin of 8.9% in the 12 months to 31 March, up from 6.9% in fiscal 2024. Colizza flagged there is some runway to go in the years ahead but with a caveat on the size of the recovery. 'One of the things that we need to keep in mind is historical EBITDA margins were 18-plus percent. What would be more normal for a European sector at this point is going to be more in the low-teens to mid-teens as an ongoing for the business,' Colizza told analysts last week. 'Our European sector, and our team in the UK specifically, have navigated through some pretty important inflationary pressures over the last several years. And the reality is that a lot of those input costs we were not able to recover from the marketplace, so it's put pressure on margins.' So-called 'optimisation initiatives' are starting to bear fruit in Saputo's UK operations, the CEO said. In April, Saputo announced job cuts at its Davidstow Creamery as the company plans to end manufacturing of certain ingredients for infant formula at the facility in Cornwall, south-west England. And in January, the planned closure of Saputo's Kirkby Malzeard site, located in Harrogate in North Yorkshire, where the Wensleydale cheese brand is produced, was announced. Saputo said it was shifting production to its dairy factory in Nuneaton, Warwickshire, where a 'major investment' has been undertaken. Challenges in the UK market also resulted in a Saputo booking an impairment charge in the third quarter of C$674m ($492.7m today). The trading environment in the country meant 'a slower-than-expected cadence of margin recovery' for its UK unit, the company explained in February. Colizza said last week the consolidation of its cut-and-wrap cheese capabilities into the Nuneaton site was 'three quarters of the way there' to completion. 'We do believe that the margin will continue to recover with all these initiatives in place,' he added in terms of the European EBITDA margin. He continued with respect to the UK: 'We do feel we're in a good place with both the balance around the branded offering into the marketplace, as well as what we do provide in the private-label sector. 'There's a greater degree of stability as well in the overall pricing specifically associated to more stabilised inflation.' Europe contributed C$106m ($77.5m) to Saputo group's adjusted EBITDA last year, up from C$75m in the previous 12 months. Revenue for the division increased 9% to C$1.19bn. For Saputo as a whole, adjusted EBITDA rose 3.7% to C$1.57bn. Revenue climbed 9.9% to C$19.06bn. "Saputo's UK operations aid margins but European outlook tempered" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scottish Sun
08-05-2025
- Business
- Scottish Sun
Major supermarket chain with 900 branches to shut only store in a city following string of closures
Shoppers fume over parking fines as supermarket giant pulls the plug on city store CLOSING TIME Major supermarket chain with 900 branches to shut only store in a city following string of closures Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR supermarket with around 900 branches across the UK is set to shut its only store in a city, marking the latest in a string of closures. Iceland has confirmed it will close its Inverness city centre supermarket at Rose Street Retail Park on July 12, shifting its focus to The Food Warehouse at Telford Retail Park. Sign up for Scottish Sun newsletter Sign up 3 As July approaches, regular customers at the Rose Street store will be making their final visits Credit: Getty 3 Iceland is best known for its frozen food range Credit: Getty Images - Getty The frozen food giant has been a long-time fixture at Rose Street, trading alongside Smyth's toy superstore, Home Bargains, and Starbucks. According to The Inverness Courier, the decision to close the store comes as Iceland concentrates on expanding its warehouse-style outlets, including the newer Telford Street site that opened in November 2022 with free parking. But the Inverness store hasn't been without problems. Customers have complained about parking charges and fines issued by a third-party car park operator, with even disabled shoppers among those hit by penalties, Press and Journal reports. These parking concerns have been a sore point for many local shoppers, who say they've been put off returning to the store. A spokesperson for Iceland said: 'We can confirm our Iceland store located at Rose Street, Inverness, is scheduled to close on July 12th 2025. "Our store colleagues will enter into a consultation process and will be offered opportunities at surrounding stores where possible. "Shoppers can visit our local Food Warehouse store in Inverness located on Telford Street.' The closure means customers will now be directed to The Food Warehouse, which is a larger format store offering a broader selection of products, bulk deals, and the convenience of free parking. Many shoppers have already made the switch since the Telford Retail Park store opened, drawn by the easier access and larger range. How supermarket chain Iceland is filling its stores with CRIMINALS in major drive to cut reoffending Iceland is best known for its frozen food range and exclusive products such as Cathedral City, Greggs, TGI Friday's, and My Protein. It has also made major investments in its delivery services, now available through its own website as well as platforms like Just Eat, Uber Eats, and Amazon, aiming to reach customers who prefer to shop from home. The closure in Inverness is part of a broader reshuffle across Iceland's UK operations, as the supermarket chain adapts to shifting consumer habits, cost pressures, and the growing demand for convenience and online shopping. Other retailers have also been facing similar challenges, with many high street stores shutting or relocating to out-of-town retail parks. For Inverness, the loss of a city centre supermarket is another blow, following the departure of several other big names in recent years. Shoppers, especially those without cars, may now find it harder to access affordable groceries within walking distance. Despite the closure, Iceland says it remains committed to serving the local community through The Food Warehouse and its delivery services. The company also reassured staff that they will be offered opportunities at other nearby stores wherever possible. As July approaches, regular customers at the Rose Street store will be making their final visits, marking the end of an era for the supermarket in the city centre. Why are retailers closing shops? EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre's decline. The Sun's business editor Ashley Armstrong explains why so many retailers are shutting their doors. In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping. Falling store sales and rising staff costs have made it even more expensive for shops to stay open. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed. The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing. Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns. Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead. Boss Stuart Machin recently said that when it relocated a tired store in Chesterfield to a new big store in a retail park half a mile away, its sales in the area rose by 103 per cent. In some cases, stores have been shut when a retailer goes bust, as in the case of Wilko, Debenhams Topshop, Dorothy Perkins and Paperchase to name a few. What's increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online. They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.
Metro
22-04-2025
- Business
- Metro
Supermarket cheese crowned better than Cathedral City — but it's not cheaper
A supermarket own-brand cheddar has beaten big brands in a blind taste test (Picture: Getty Images) In news which might have shocked shoppers, Which? recently revealed that a supermarket own-brand butter fared better than Lurpak in a blind taste test. A panel of 67 people picked Aldi's Norpak as the overall winner, rating it highly for its creaminess, colour and well-rounded flavour. Now another consumer panel has also voted in favour of a supermarket own-brand product, while trying to find the UK's best cheddar cheese. Which? pitted branded cheeses by Cathedral City, Pilgrims Choice and Davidstow against ones from popular retailers like Sainsbury's and Aldi and it might come as a surprise to some that it was Tesco that came out on top. The Tesco option got a score of 78% overall (Picture: Tesco) Tesco Finest Mature English Cheddar Cheese garnered a score of 78%, being praised for its taste and 'firm, smooth' texture. Testers thought the salt level and strength of flavour were just right and it was found to be 'pleasingly crumbly and creamy' too. The cheese is said to be 'about average price-wise' compared with other cheeses in the test, costing £4 for 350g (£1.14 per 100g), but interestingly it's not actually cheaper than all of the bigger brands. Davidstow Classic Cheddar came in second place, with a score of 75%. It was also awarded a 'best buy' accolade, despite being one of the priciest cheddars on the list at £4.75 fro 350g (£1.36 per 100g). The panel thought it was a 'solid choice' and shoppers were urged to look out for deals and special offers so they could nab a block while it was cheaper. Cathedral City came in fifth place (Picture: Sainsbury's/Cathedral City) The Cornish Cove Mature Cheddar Cheese from M&S came in third place (£4.25 for 350g), while Castello Tickler Mature Cheddar Cheese (£4.75 for 300g) came in fourth. Cathedral City Mature Cheddar (£3.50 for 350g) was in joint-fifth place with Pilgrims Choice Mature Cheddar (£4.20 for 350g), followed by Sainsbury's Barber's Mature Cruncher Cheese (£4 for 350g) and Aldi's Specially Selected West Country Mature Cheddar (£2.99 for 350g). Co-op's Irresistible Somerset Mature Cheddar Cheese (£4.50 for 340g) took last place in the test, as those who tried it said it 'lacked the crumble of a good cheese', was 'too smooth' and the flavour was also criticised. How was the cheese tested? A panel of 76 people tested the cheeses in a blind taste test which took place in September 2024. The group consisted of people who regularly buy and eat cheddar and were of various ages and genders. Each of the cheeses were tried in a private booth, so no one could discuss their thoughts or be influenced by anyone else. All of the cheddars were then rated on taste, texture, aroma and appearance, with each person sharing what they liked and didn't like. The final scores were based on 50% flavour, 20% aroma, 15% appearance and 15% texture. Cheddar cheese ranking from the blind taste test: Tesco Finest Mature English Cheddar Cheese, 78% Davidstow Classic Cheddar, 75% M&S Cornish Cove Mature Cheddar Cheese, 73% Castello Tickler Mature Cheddar Cheese, 71% Cathedral City Our Mature Cheddar and Pilgrims Choice Mature Cheddar, both with a score of 70% Sainsbury's Barber's Mature Cruncher Cheese, Taste the Difference, 69% Aldi Specially Selected West Country Mature Cheddar, 68% Co-op Irresistible Somerset Mature Cheddar Cheese, 66% Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ Arrow MORE: Shoppers can finally buy cult US sauce in UK — but some say it's like 'PVA glue' Arrow MORE: Aldi is finally bringing back its 'sell-out' sweet treat to shelves for just £1.79 Arrow MORE: Full list of supermarket opening times on Easter Monday including Tesco, Aldi and Morrisons
Yahoo
21-04-2025
- Automotive
- Yahoo
M6 closed to traffic near Birmingham due to vehicle fire
The M6 motorway is closed in the West Midlands due to a car fire tonight (Monday, April 21). The northbound carriageway is shut to traffic between Junction 4 and Junction 4A. The closure was first reported at around 9.30pm. A National Highways spokesperson said: "The M6 in the West Midlands is currently closed northbound between J4 to J4A near Coleshill and Birmingham Airport due to a car fire. READ MORE: Exact time Lyrid meteor shower is set to dazzle UK skies tonight READ MORE: Supermarket cheese that costs £3.80 named best in UK - beating iconic Cathedral City "The link road between M42 J7 northbound and M6 J4 northbound is also closed. "Emergency services including West Midlands Traffic Police are in attendance. National Highways has resources deployed to assist with traffic management. "Road users are advised to expect disruption and to allow extra journey time." Motorists are being advised to follow hollow Circle Diversion symbol on road signs. Exit at J4 and bear left on the slip road to access the Coleshill Interchange. At the roundabout take the third exit on to the A446. Follow the A446 north to Coleshill and at the roundabout with the B4114 take the first exit on Birmingham Road. Follow this road to the roundabout with the A452. Take the third exit on to the A452 and follow this road to Castle Bromwich. At the roundabout take the second exit to remain on the A452 and cross below the M6 J5. Continue to Spitfire Island and take the first exit on to the A47. Remain on the A47 Fort Parkway/Heartlands Parkway) to Star City and the roundabout with the B4137 Cuckoo Road. Take the third exit from the roundabout and follow the B4137 to the junction with the A5127 Lichfield Road. Turn right and follow the A5127 Lichfield Road to Salford Circus. At Salford Circus take the first exit to re-join the M6 northbound at J6 (Gravelly Hill Interchange/"Spaghetti Junction").
