Retail jobs declining as pressure mounts on supermarket sector October 22, 2014 The number of staff per store on the high street slumped to a record low in the third quarter of the year, as troubled supermarkets overhauled their management structures to reverse sliding sales. The equivalent number of full-time jobs fell by 1.3 per cent between July and September, even as the number of stores increased [...]
Euan Sutherland relaxes into SuperGroup’s clothing after taking on chief exec role October 22, 2014 Euan Sutherland looked relaxed and rested yesterday as he announced his new role as chief executive of high street fashion retailer SuperGroup. As if to prove his unswerving loyalty to the cult brand, the soft-spoken 6ft 6in Scotsman is dressed head-to-toe in Superdry clothing, including a navy blue pea coat, which he enthuses is “absolutely [...]
Tesco suffers worst decline in grocery sector October 21, 2014 TESCO emerged as the biggest loser in the grocery sector over the past three months, despite sales showing signs of recovery, as the supermarket price war and fierce competition continued to take its toll on the troubled retailer. The company, which stunned the City last month with revelations of a £250m black hole in its [...]
Supermarket woes deepen over price wars October 21, 2014 THE UK food industry’s troubles were laid bare today after a report revealed the sector had suffered the sharpest rise in financial distress compared with other UK industries. According to Begbies Traynor’s latest Red Flag update, which monitors the health of UK companies, levels of “significant” financial distress among UK food retailers rose by 11 [...]
Carpetright chairman Lord Harris to take his leave after 26 years October 21, 2014 CARPETRIGHT founder and chairman Lord Harris announced yesterday he would be stepping down – and this time for good – after naming Mitchells & Butlers boss Bob Ivell as his successor. Harris first announced his retirement in May only to reveal weeks later that he planned to stay on as non-executive chairman until a replacement [...]
Asos CEO Nick Robertson: Bruised and burnt but fighting back October 21, 2014 What doesn’t kill you makes you stronger, Nick Robertson declared yesterday. The Asos chief executive has had a tough year, riddled with profit warnings, a fire at its main warehouse, and slowing international sales that have left the firm’s shares badly bruised. Until this year, Asos’ shares have enjoyed a meteoric rise, thanks to [...]
London at risk of running out of affordable offices, agents warn October 20, 2014 LONDON could run out of more affordable, secondary office space, property experts warned yesterday, as demand from companies taking up space in the capital continued to gather pace in October. Property advisory firm DTZ said the availability of second hand office space – relied on by start-up and small businesses – was at a 13-year [...]
Cala expansion push into south boosts profits October 20, 2014 CALA Group profits soared last year after the upmarket housebuilder’s acquisition of Banner Homes helped bolster its presence in the affluent south and London’s commuter towns. The Edinburgh-based group, which develops upmarket properties in Scotland, the Midlands and the Home Counties, saw pre-tax profits almost doubled from £12.6m to £27.3m in the year to 30 [...]
Amazon hires for Christmas: 13,000 temporary UK jobs to be created over festive period October 20, 2014 Amazon is set to create an extra 13,000 temporary jobs in the UK over the Christmas season as the online giant braces itself for the busiest trading period of the year. The company announced yesterday it will hire people to work across it eight fulfilment centres across the UK and its customer service centre [...]
Adidas shares rally after suitors rumoured to be circling Reebok October 20, 2014 ADIDAS shares rallied yesterday on reports that a group of investors was planning a $2.2bn (£1.4bn) bid to buy the German sportswear group’s Reebok brand. Jynwel Capital, a Hong Kong-based private equity investment firm, and funds affiliated with the Abu Dhabi government are understood to be poised to make the offer in a letter to [...]
