JD Sports appoints former B&Q exec as CEO August 2, 2022 JD Sports has named former B&Q executive Régis Schultz as new CEO, as the sportswear retailer hopes to put a slew of negative headlines behind it. Schultz is anticipated to join the London-listed retailer in September, with interim boss Kath Smith to resume her former role as a senior independent director on the board. He [...]
Flat profit for Greggs as bakery chain vows not to shrink size of sausage rolls August 2, 2022 Sausage roll maker Greggs has posted flat profit after the return of pre-pandemic tax rates and heightened costs. In half-year results, the bakery chain posted pre-tax profit of £55.8m, up just slightly from the £55.5m posted in the first half of 2021. The London-listed chain said this was reflective of the re-introduction of business rates, [...]
Winging it: Chicken supplies set to remain tight while KFC warns of shortages August 1, 2022 Chicken supplies are set to remain tight across the country, a report has cautioned, amid reports of KFC preparing to run out of stock of certain chicken items. High street staple KFC warned staff in a memo last week that supplies of chicken on the bone were among items running low, The Sun reported. KFC [...]
Greggs’ plans to sell hot food into early hours at Leicester Sq flagship thwarted by council August 1, 2022 Greggs’ plans to sell hot food into the early hours of the morning at its Leicester Square flagship site have been knocked back. Westminster City Council blocked an application for the West End store to sell hot food – such as its chicken goujons – and hot drinks until 5am, citing concerns of the Met [...]
OnTheMarket CFO to depart role next year as property platform revenue booms August 1, 2022 Property search platform OnTheMarket has announced its chief financial office will be leaving the firm early next year. Clive Beattie has resigned from his position at the London-listed company to pursue another company, OnTheMarket infomed investors on Monday morning. The board has appointed consulting firm Korn Ferry to kick start a recruitment drive for a [...]
Heineken sales elevated as beer drinkers brush off price increases August 1, 2022 Brewer Heineken has seen beer sales leap in the first half of the year, despite growing pressures on consumers’ budgets. The drinks behemoth had seen “demand resilient until now despite mounting inflationary pressures on consumers’ disposable income,” according to Heineken chairman and CEO Dolf Van Den Brink. However, the brewer warned increasing costs meant it [...]
JD Sports sells Footasylum to private equity firm after watchdog crackdown August 1, 2022 Trainer seller JD Sports has inked a deal to hand over Footasylum to Aurelius Group for £37.5m, following competition concerns. In recent weeks, JD Sports had been rumoured to be in talks with the German private equity group about selling the high street brand, which it attempted to takeover in 2019. JD said the sale [...]
Asos, Boohoo and George by Asda probed by watchdog on green claims July 29, 2022 Asos, Boohoo and Asda’s clothing arm George will be investigated by the competition watchdog to work out whether their green claims are misleading shoppers. The Competition and Markets Authority (CMA) said retailers could face court action if their sustainability claims are found to be misleading. Fashion collections, such as ‘Responsible edit’ from ASOS, Boohoo’s current [...]
Ocado appoints CEO to head up new technology division to focus on robotics handling July 28, 2022 Online grocer and tech firm has appointed its current chief operating officer to a new role as top boss of a new Ocado division. Mark Richardson will step into the newly-created role of CEO as a new business which will extend Ocado’s “product offering into new market sectors alongside grocery.” The upcoming launch of products [...]
Sales overflow for drink giants Diageo and AB InBev as consumers still opt for pricey tipples July 28, 2022 Global drinks titans Diageo and AB InBev have reported overflowing sales after the easing of Covid lockdowns has driven punters back into bars. Johnnie Walker maker Diageo posted net sales of £15.5bn, an increase of 21.4 per cent, which it accredited to the pub and bar sector recovering from the side effects of Covid 19 [...]
