The ex-butcher who knows how to cut it fine January 24, 2011 HAVING started his career in a butcher’s shop in Wolverhampton, Ranjit Singh Boparan has a lifetime of experience in food firms – and knows how to cut things fine. Boparan’s £342m bid for Northern came two hours after the Takeover Panel’s original deadline of 5pm on Friday, after he negotiated a last-minute extension with the [...]
Rose in new role at Woolworths January 20, 2011 Sir Stuart Rose has been given a new role with South African retailer Woolworths. The former Marks & Spencer boss will becomes a non-executive director of the food and clothing chain. He stepped down as M&S chairman earlier this month, and was replaced by Robert Swannell, having handed over the reins as chief executive to [...]
M&S sales rise but year ahead set to be harsh January 11, 2011 MARKS & SPENCER saw sales rise in the key Christmas period but the retailer warned that 2011 would be tough, with austerity measures and the spectre of inflation rises to take their toll. Same-store sales rose 2.8 per cent in the UK in the 13 weeks to 1 January despite the impact of the snow. [...]
Banks support FTSE amid broad-based gains January 11, 2011 LONDON’S FTSE made strong gains today as bank shares surged and sovereign debt fears receded. Athough stocks gave back some of the day’s earlier gains by the market close, the leading index closed closed up 57.73 points or one per cent at 6,014.03. It ended a three-day losing streak and stayed ahead of the 6,000 [...]
M&S sales up 4pc but warns of tough 2011 January 11, 2011 Marks & Spencer saw a four per cent rise in total UK sales in the 13 weeks to 1 January. Clothing was the best performer with a 4.7 per cent jump over the period. On a like-for-like basis UK sales were up 2.8 per cent. Chief Executive Marc Bolland said: “Marks & Spencer traded well [...]
BEST OF THE BROKERS January 10, 2011 TRAVIS PERKINS Numis raised the builder’s merchant to “add” from “buy” yesterday at a target price of 1,250p, expecting its acquisition of BSS to enhance its earnings per share by more than 13 per cent. The broker believes the combined group now looks cheap and supported by an improving industry backdrop, should continue to outperform. [...]
Rose leaves M&S as new era begins January 4, 2011 SIR Stuart Rose said farewell to Marks & Spencer (M&S) yesterday, drawing to a close a colourful six years at the helm of the retailer. He formally hands over the reins of chairman to former City banker Robert Swannell today. Sir Stuart, 61, was hailed as an inspiration after steering M&S to a £1bn profit, [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
SMELLING OF ROSES IN CAMERON’S NEW COURT December 19, 2010 AND so it came to pass. Outgoing Marks & Spencer chief Stuart Rose has wasted little time in finding another gig for himself: he’s been offered a job working on David Cameron’s “happiness index”, a headline-grabbing little initiative being led by the Office for National Statistics to monitor our “national wellbeing” as a supplement to [...]
Stars in their pies: mincemeat magic December 1, 2010 WHILE turkey and Christmas pudding are held back for the meal on the big day, mince pies are the real staple of the festive season. People who wouldn’t normally dream of a mid-afternoon snack will suddenly find themselves gobbling down piles of pastry and fruity mincemeat, while every cocktail party and seasonal bash is overflowing [...]