Media Bites April 20: Coca-Cola, Tesco, Oatly | New
Coca-Cola sales rebounded in the first three months of the year as accelerating vaccinations against Covid-19 and declining restrictions on restaurants and bars renewed demand for its soft drinks (The Financial Times £).
The world’s largest beverage company topped Wall Street’s forecast for revenue and profits in the last quarter, even as it continues to struggle with closed restaurants, vacant bars, and postponed events in key markets (The time £).
Tesco was fined £ 7.56million by a judge for selling expired food at three of its Birmingham stores (The Guardian).
The Lex column in The Financial Times (£) looks at Steinhoff’s attempts to get rid of the Pepco group, operator of the discount chains Poundland, Dealz and Pepco. “The separation from its controversial owner will help the operator of the discount chains,” the newspaper writes.
Oatly, the Blackstone-backed vegan milk company that filed a float request on the Nasdaq on Monday, said it would consider adding a listing in Hong Kong within the next two years, citing its relationship with a Chinese public conglomerate.The Financial Times £).
Kantar to expand its presence in America with the purchase of a competing market intelligence provider for approximately $ 1.5 billion (The time £).
A ‘David vs. Goliath’ lawsuit is pending in the High Court on Monday as hotel bosses try to force the UK government to bring forward the date for reopening pubs and restaurants inside (The Guardian).
Consumers have saved an additional $ 5.4 billion since the start of the Covid-19 pandemic and are increasingly confident about the economic outlook, according to Moody’s (The mail).
Many UK businesses last week reported better-than-expected trade as they reopened after a three-month lockdown, with unofficial measures of economic activity suggesting strong pent-up consumer demand (The Financial Times £).
The number of people visiting stores increased by nearly 200% last week in England, as non-essential retailers were allowed to open their doors to consumers for the first time since early January as Covid restrictions were relaxed (The Guardian).
A set of little-known UK logistics companies behind the supply chains of well-known corporate brands such as Zara, Nike and Argos have become unexpected Brexit winners (The Financial Times £).