Unemployment falls at fastest pace in 25 years September 17, 2014 UNEMPLOYMENT plunged to its lowest level since 2008 in the three months to July, official figures showed yesterday, as the job market’s rapid recovery signals higher wages could be just around the corner. Joblessness dived at the fastest pace in 25 years in the year to August, falling to 6.2 per cent. Meanwhile, employment jumped [...]
JD Sports trading at record level September 17, 2014 JD SPORTS said yesterday it enjoyed record trading in the first half of the year as the sports retailer doubled profits. Revenue increased by 27 per cent to £721.5m in the six months to 2 August as sales at its sports stores, JD and Size?, jumped 28 per cent. The strong performance helped drive pre-tax [...]
Marks & Spencer opens across Finland and Norway as part of European expansion September 17, 2014 Marks and Spencer is set to open its first shop in Scandanavia next month as it marches ahead with its European expansion. The high street retailer said yesterday it will open 15 franchise stores across Finland and Norway, with the first shop set to open in Helsinki next month. The 32,000 square feet store will [...]
Opcapita exec made chairman at Dairy Crest September 17, 2014 DAIRY Crest, the owner of Cathedral City cheese, yesterday named non-executive director and Opcapita partner Stephen Alexander as its new chairman. Alexander has worked in the consumer industry for over 30 years and joined Dairy Crest as a non-executive director in 2011. He replaces Anthony Fry, who is stepping down due to ill health, with [...]
Cath Kidston’s Paul Mason to join New Look September 17, 2014 NEW LOOK has taken a leaf out of Cath Kidston’s pattern book after hiring the fashion and homeware retailer’s chairman Paul Mason for the same role. The discount fashion brand said Mason would succeed Tom Singh, currently interim non-executive chairman, with immediate effect. Mason has worked in retail for more than 30 years and started [...]
Richemont founder returns as revenues slow September 17, 2014 Richemont’s billionaire founder Johann Rupert yesterday returned to the post of chairman at the luxury goods firm, whose Cartier and Montblanc watches are a favourite with stars like Usher (left). Rupert, South Africa’s richest man, arrived back after a year’s sabbatical, at a time when sales are slowing in the company’s key Asian market. His [...]
DS Smith faces a shareholder revolt over pay September 17, 2014 RECYCLED packaging company DS Smith yesterday faced a shareholder revolt over its pay policies. At its annual meeting 40 per cent of investors, including abstentions, failed to back three votes on pay, including the remuneration report covering last year’s pay, the remuneration policy covering pay for the next three years and a separate long-term plan, [...]
Cenkos profits surge sixfold on £31.5m revenue from AA’s float September 17, 2014 SMALL and mid-market specialist Cenkos recorded a 650 per cent boom in profits in the first half, thanks to its work on AA’s initial public offering, the broker said yesterday. Profits came in at £23.5m, up from £3.1m in the first six months of 2013. Revenues rocketed from £20m to £65.2m – meaning the AA deal [...]
Mace wins £400m contract to develop BBC Television Centre September 17, 2014 CONSTRUCTION firm Mace has been picked as the preferred building manager for the redevelopment of the BBC Television Centre in West London, development company Stanhope said yesterday. The contract, which is understood to be worth around £400m, is a major coup for the company after losing out to Swedish rival Skanska last week on a [...]
Punch gets approval for debt restructuring September 17, 2014 PUNCH Taverns yesterday announced that noteholders as well as its shareholders had approved its £2.3bn debt restructuring proposals, subject to the consent of the Royal Bank of Scotland and Lloyds Bank. It has been selling off hundreds of pubs to help bring down debt and shore up its balance sheet. Shares closed up 3.9 per [...]