Tesco hits out after £10m fine for fixing cheese price August 10, 2011 TESCO has threatened legal action and called for the Office of Fair Trading to be dismantled after being hit with a £10m fine for fixing cheese prices between 2002 and 2003. A seven-year investigation by the watchdog ended with Arla, Asda, Dairy Crest, McLelland, Safeway, Sainsbury’s, The Cheese Company, Wiseman and Tesco being fined £50m [...]
FRENCH CONNECTION IS ON TARGET August 10, 2011 FASHION retailer French Connection said first half profit will be in line with management expectations as its sales hold up in the tough trading environment. The clothing and accessories retailer said it saw growth in like-for-like sales at its UK stores despite the difficult market conditions.
Results show why Thomas Cook boss was right to go August 10, 2011 WHEN Manny Fontenla-Novoa was ousted from Thomas Cook last week, many in the travel industry felt more than a little sad at his departure. The charismatic Fontenla-Novoa, who started working in Thomas Cook’s printing room in 1972 at age 18, was one of a kind; a bon vivant whose boozy dinners went down extremely well with [...]
A third of shoppers say they have no spare cash August 10, 2011 A THIRD of British shoppers say they have no spare cash after covering their overheads. Consumer confidence in spending is plunging to an all-time low, according to the latest survey by information company Nielsen and the British Retail Consortium (BRC). Consumers’ biggest concerns for the next six months continue to be the squeeze on household [...]
Macy’s spring sales impress August 10, 2011 Macy’s, the second biggest US department store, has reported a higher than expected quarterly profit. The company said it had seen its best spring quarter for over a decade, with a 64 per cent jump in profit. Macy’s said it got a lift from its strategy of tailoring merchandise to local markets. The department store [...]
Ralph Lauren beats forecasts August 10, 2011 Polo Ralph Lauren, the premium designer label, has reported better than expected sales, boosted by growth in its retail sales. The retailer’s first-quarter net income climbed 52 per cent to $184.1m despite rising cotton costs. Net sales for the quarter rose 32 per cent to $1.49bn, better than consensus estimates of $1.43bn. In 2012 the [...]
Sainsbury’s new marketing man August 10, 2011 Sainsbury’s has appointed Mark Horgan, currently the managing director of MasterCard’s Access Pre-paid Worldwide subsidiary, as its new marketing director. In his role at Sainsbury’s, Horgan will lead customer insights and loyalty, brand communications and non-food marketing. It is expected that Horgan will start in his new position within the next six months. Marketing strategy [...]
Adecco beats forecasts but margin drops August 10, 2011 ADECCO, the world’s biggest staffing company, beat profit forecasts yesterday as uncertain job markets drove the demand for temporary staff, but margins at the company were squeezed by a poor performance in its professional division. Revenue at Adecco rose by 11 per cent to €5.2bn (£4.56bn), while net income jumped 45 per cent to €141m, [...]
City’s jobs knocked by tough conditions August 10, 2011 THE number of new financial jobs in the City fell by 11 per cent in July, as tough trading conditions hit recruitment in London’s banking sector. Just 4,800 City vacancies were created in July 2011, down from 5,400 in June, according to research by financial recruiter Astbury Marsden. The firm also said that the number [...]
IndigoVision set to miss targets August 10, 2011 INDIGOVISION, the internet video security company, has warned that its full year sales and profits will not meet its initial targets. The company’s estimated turnover for the year ended 31 July was £28.9m, three per cent above the £28m reported last year. A 28 per cent increase in sales in the US was offset by [...]
