JD Sports’ chair: Governance changes won’t ‘kill entrepreneurial spirit’ of retailer September 22, 2022 JD Sports’ new chair Andrew Higginson has said corporate governance changes will bring the retailer up to pace without being too “heavy handed.” The trainer seller recently created distinct roles of chair and CEO, after the departure of former boss Peter Cowgill earlier this year. After decades at the helm of the London-listed firm, Cowgill [...]
Over 2,000 London bus drivers to strike on 4 October September 21, 2022 More than 2,000 London bus drivers are set to strike on 4 October in a dispute over pay, the union Unite announced on Wednesday. Running continuously until workers receive a pay rise in line with the retail price index, Unite said, the strike will affect eight depots across North London – including Tottenham and Wood [...]
JD Sports agrees multi-million pound exit terms with former boss Peter Cowgill September 21, 2022 Former JD Sports’ boss Peter Cowgill is set to receive £5.5m after making his departure from the sportswear retailer. After decades at the helm of the London-listed firm, Cowgill stepped down following several brushes with the competition watchdog. Now, JD Sports has said it has agreed exit terms with Cowgill, including a £3.5m payment over [...]
City Moves: Who’s switching jobs in the Square Mile? September 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Bovill Financial regulation consultancy Bovill has appointed a Big Four director to head its wealth practice, covering financial planning, regulatory compliance and prudential obligations. Based in London, Matt Browne joins from PwC, where he was a director [...]
Queen’s funeral: Drivers warned as Sainsbury’s, Tesco, Asda and Morrisons to shut forecourt petrol stations September 15, 2022 Drivers have been warned not to get caught out after supermarkets including Sainsbury’s, Tesco, Asda and Morrisons said they are closing their forecourt petrol stations on Monday for the Queen’s funeral. The retailers made the announcement today as many companies, including even Heathrow, curtail usual operations out of respect for the late monarch. “All Sainsbury’s [...]
Exclusive: UK retailers should copy TfL or they miss out on advertising cash, argues City bigwig September 15, 2022 Are UK retailers missing a valuable opportunity to earn money from advertising? A City insider thinks most big brands do, as he urges the High Street’s biggest names to look at TfL and copy their model by rolling out a retail media network. So-called retail media networks are one of the hottest emerging trends in [...]
Sofa giant DFS suffers big slump in profits after ‘grim year’ amid sharp retail downturn September 15, 2022 DFS said this morning the sofa seller has suffered a big slump in profits. Moreover, the company warned that the industry is facing a downturn as soaring bills mean fewer customers are in the market for a new sofa. DFS said pre-tax profit dropped 43 per cent to £58.5m in the financial year that ended [...]
City Moves: Who’s switching jobs in the Square Mile? September 15, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Boreal IM Pan-European real estate investment manager Boreal IM has hired an ex-Merrill Lynch investor as a partner. Nikos Koulouras, the former head of investments at investment advisor AEW, brings over 20 years of experience to the firm’s London office. Koulouras is set to focus on the development [...]
Pubs to remain open on Monday for Queen’s funeral September 14, 2022 Pubs across the country will be opening their doors on the day of the Queen’s funeral, as waves of mourners flock to the capital. The UK’s largest pub group, Stonegate, said its managed venues would remain open on the bank holiday on Monday. A spokesperson said that “where possible” would screen the funeral, following the [...]
McDonald’s is latest to shutter on Monday for Queen’s funeral September 14, 2022 Fast-food giant McDonald’s is the latest retailer to close its doors on Monday for the Queen’s funeral. The restaurant chain’s UK arm announced it would close until the early evening as up to a million descend on central London to say goodbye to Her Majesty. Earlier this week, Lidl, Waitrose and Sainsbury’s and Tesco were among [...]