CITY MOVES | WHO’S SWITCHING JOBS June 8, 2010 Signia Wealth The ultra high net worth wealth manager has hired mobile phones tycoon John Caudwell to take up a seat on its advisory board. Caudwell will provide entrepreneurial leadership for the firm alongside its other advisers, including private equity guru Jon Moulton. Caudwell previously founded and led the Caudwell Group, including mobile phone retailer [...]
WM Morrison poaches Waitrose second in command as seeks to move upmarket June 8, 2010 WM Morrison yesterday lured Richard Hodgson from Waitrose to be commercial director to replace trading director Martyn Jones, who has been give the new role of corporate services director. Jones will take up his new position from September 2010 when he will step down from the Morrison’s board. Hodgson has experience across all areas of [...]
The grocer who says this year will test retailers as well as shoppers May 31, 2010 Much like the rest of the country, the chief executive of the country’s third largest supermarket group is trying to make up his mind about the coalition government. At the start of the election campaign Sainsbury’s boss Justin King was one of many who backed Tory plans to scrap national insurance hikes for employers, a [...]
Asda takes over Netto in £778m deal May 27, 2010 ASDA has bought the Netto supermarket chain in the UK for £778m. Netto has 193 stores, which will be converted to small Asda stores by next Summer, if regulators give the deal the go-ahead. Asda plans to employ up to twice as many staff in each of the stores it has acquired. It sees the [...]
Asda May 27, 2010 GET ready to slap the change in your back-pocket and shout “that’s Asda Price”: Britain’s number two supermarket has been on a spending spree. At first glance, the £778m that Asda has shelled out for 193 Netto stores looks pricey. The Wal-Mart subsidiary is paying £504 per square foot, mostly for units that are in [...]
Asda buys UK Netto stores May 27, 2010 ASDA has bought the Netto supermaket chain in the UK for £778m. Netto has 193 stores, which will be converted to small Asda stores by next Summer, if regulators give the go-ahead. Asda plans to employ up to twice as many staff in each of the stores it has acquired. It sees the move as [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
Clothes push retail sales up 0.3pc in April May 20, 2010 IMPROVING clothing and department store sales offset flat food sales to push British retail revenues slightly higher than expected in April, according to the Office for National Statistics. Including petrol and diesel, high street sales rose 0.3 per cent last month, above analysts’ forecasts of 0.2 per cent and up 1.8 per cent year-on-year. The [...]
Wal-Mart price cuts pay off May 18, 2010 WAL-MART’S quarterly results yesterday beat Wall Street expectations as a curb on costs helped the world’s largest retailer overcome weaker US same-store sales. The costs cuts on everything from labour to transportation helped the company fund “rollbacks” on prices for thousands of items in recent weeks, as it tries to hold onto customers pressured by [...]
Clarke to become chief executive at Asda while Bond steps up to chairman May 11, 2010 CHIEF operating officer of Asda, Andy Clarke, has been appointed to the role of chief executive and president of the US-owned supermarket. His promotion follows last month’s announcement by Andy Bond that he would step up to become part-time chairman at the retailer. Clarke joined Asda in 1992 but left in 2001 for roles at [...]