Bottom Line: An orderly handover but uneasy lies any head wearing this crown January 29, 2014 LONG live the new king. Sainsbury’s emphasis is firmly on continuity as it announces its new boss. The choice of commercial director Mike Coupe is the antithesis of a palace coup – every inch a loyal insider, Coupe is closely tied to King’s strategic vision, as demonstrated by his involvement in recent successes like Brand [...]
Mulberry takes £140m hit after profit warning January 29, 2014 SHARES in Mulberry plunged by more than a quarter yesterday, after the luxury fashion group issued its second profit warning in less that a year, blaming fierce discounting over Christmas and weak trading in Korea. The group, which has furnished the likes of Victoria Beckham with its designer handbags, said it now expects profits for [...]
Mulberry profit warning sends shares tumbling 27pc January 29, 2014 Luxury brand Mulberry has issued a surprise profit warning this morning, after Christmas trading in the UK got worse and wholesale cancellations in Korea were worse than anticipated. Shares have nosedived on the news, currently down well over 25 per cent. The fashion house, which has furnished the likes of Victoria Beckham and Katherine Jenkins [...]
Justin King to leave Sainsbury’s in July January 29, 2014 Justin King is stepping down as chief executive (CEO) of Sainsbury’s in July, it's been announced. King’s been in charge for ten years; he’ll be replaced by Mike Coupe, current group commercial director. He only formally told chairman David Tyler that he was stepping down this morning. The decision, he said, was entirely his own [...]
Insurers count the cost of recent floods as bill tops £400 million January 28, 2014 THE INSURANCE industry looks set to pay out millions of pounds worth of claims after the country was hit by bad weather and flooding over the Christmas period. Figures released by the Association of British Insurers (ABI) put the estimated insured cost of the damage at £426m. The figure is the result of 174,000 claims between [...]
Android strong in key markets over Christmas January 26, 2014 GOOGLE finished 2013 on top with sales of phones running its Android operating system dwarfing those of rivals iOS, Windows Phone and BlackBerry over the Christmas period. Data from researchers Kantar Worldpanel found that Android had a 68.6 per cent share of sales in the five largest European markets for the 12 week period to [...]
Game’s market share boosted by Playstation 4 and Xbox One January 26, 2014 THE LAUNCH of Sony’s latest console, the PlayStation 4 (PS4) and Microsoft’s Xbox One at the end of last year has helped boost retailer Game’s share of the entertainment market, new research shows. Figures from Kantar Worldpanel released today show that Game claimed eight per cent of the market in the 12 weeks to 22 [...]
FA Cup: Fulham face fixture woe January 26, 2014 SHEFFIELD UNITED 1 vs FULHAM 1 FULHAM boss Rene Meulensteen has lashed out at a congested fixture list that he blames for forcing him to change the entire starting XI for yesterday’s 1-1 draw at Sheffield United. The Cottagers needed a 75th-minute equaliser by Hugo Rodallega to stay in the FA Cup, after Chris Porter [...]
Where to drink January 24, 2014 Bars and clubs continue to open as London recovers from the post-Christmas blues. Chakana is a new Incan-themed nightclub next to Selfridges, spearheaded by Nick House (Steam and Rye, Mahiki), who recruited international clubland superstars Andrew Dax (London, Ibiza), Corrado Mozzillo (Italy) and Augusto Rosillo (Argentina) to create a nightlife experience akin to Tarantino’s From [...]
Privatised Royal Mail sees parcel business boom January 24, 2014 Recently privatised Royal Mail Group has reported a boost in like-for-like revenue of two per cent in its trading update for the nine months ended 29 December 2013. Parcel revenue grew strongly, up eight per cent on a like-for-like basis. Addressed letter volumes fell by five per cent on a like-for-like basis, in line with [...]