Good trading helps Punch cut net debt August 24, 2010 Punch Taverns, the country’s largest pubs group, said yesterday it expected full-year earnings to be slightly ahead of its previous expectations – reflecting a pub improvement programme, a good World Cup and sunny summer weather. The company, which runs more than 7,100 pubs, said sales at pubs it directly manages, which have been open for [...]
Swannell is the right man for M&S August 23, 2010 WHEN I had breakfast with Robert Swannell, the newly appointed chairman of Marks & Spencer recently, it was clear that the former investment banker was in anything but wind down mode. After three decades of working on mergers and acquisitions, sometimes over seven-day weeks involving late nights, Swannell could have been forgiven for putting his [...]
Swannell plans to juggle HMV and Marks & Spencer roles August 23, 2010 FORMER dealmaker Robert Swannell will remain on the board of HMV after taking the chair of Marks & Spencer in January, it is understood. Swannell, whose appointment as Sir Stuart Rose’s replacement was confirmed yesterday, will divide his time between the structurally challenged music chain and the all-purpose retailer. He will step down from the [...]
Swannell set to win M&S chairmanship August 22, 2010 ROBERT SWANNELL, the veteran investment banker and HMV boss, is expected to be confirmed as Sir Stuart Rose’s replacement at the chair of Marks & Spencer this week. Swannell spent the weekend thrashing out an agreement with M&S, friends said, and while his appointment was not sealed last night he is understood to be in [...]
M&S lines up new chairman to replace Rose August 20, 2010 Marks & Spencer is to name Robert Swannell as Sir Stuart Rose’s successor as chairman, according to Sky News. It said Swannell, currently a senior advisor of Citi Europe and chairman of HMV Group, the music and books retailer, would take up the role when Rose steps down next year. A spokeswoman for M&S declined [...]
Reflections on the Philip Green saga August 16, 2010 MY first contact with Sir Philip Green came around two decades ago when he was running a small public company called Amber Day. I had written a two paragraph story for the Independent newspaper which provoked the retailing tycoon to scream down the phone at me the following day. “I cut out your article out [...]
Boots buys up Turkish drug wholesaler July 25, 2010 ALLIANCE Boots will prepare for a major push into Africa and the Middle East with the purchase of one of Turkey’s biggest drug wholesalers. Alliance Boots will take full control of Hedef Alliance in a deal thought to value the Turkish company at more than £600m. Boots already owns a 50 per cent stake in [...]
Heard it through the grapevine: Levis popular July 20, 2010 A new YouGov SixthSense report into high street fashion reveals that Levis is still in demand despite a high ownership rate amongst UK consumers. The report, which investigates public perceptions of 35 prominent high street brands, also brings into question the consumer-appeal of high-end brands such as Vivienne Westwood. Despite the fact that one in [...]
M&S defends £15m pay deal for new boss July 14, 2010 SIR STUART ROSE, the outgoing executive chairman of Marks & Spencer (M&S), along with the British retailer’s board faced investor revolt yesterday over the pay package handed to incoming chief executive Marc Bolland. With some shareholders calling his £15m deal “obscene” at its annual meeting, senior executives were left defending Bolland’s pay. Rose, who faced [...]
BEST OF THE BROKERS July 8, 2010 PROVIDENT FINANCIAL Numis has issued a “buy” recommendation for Provident Financial and with the interim results coming up it details what it expects from the two core divisions: consumer credit and Vanquis. Overall, despite the current tough market conditions, Numis said it expects the group interim profits to be broadly flat. TOTAL UBS has raised [...]