Shapland is named Poundland chair in retail merry-go-round July 29, 2014 Poundland yesterday named Darren Shapland as its new chairman after losing its current boss to the troubled supermarket Morrisons in the latest round of retail musical chairs. Shapland joined the bargain chain’s board as a senior independent director ahead of its £750m float in March after a brief stint as chief executive of the flooring [...]
How Aldi is about to overtake Waitrose and become the sixth largest supermarket in Britain July 29, 2014 Aldi and Lidl continue to win in the battle of the supermarkets as their market share surged and sales were up, leaving the big four- Tesco, Asda, Sinasbury's and Morrisons- trailing behind when it comes to growth. Aldi’s stellar performance places it almost level with Waitrose as the big four continue to feel the pressure [...]
How Aldi is about to overtake Waitrose and become the sixth largest supermarket in Britain July 29, 2014 Aldi and Lidl continue to win in the battle of the supermarkets as their market share surged and sale rise, leaving the big four- Tesco, Asda, Sinasbury's and Morrisons- trailing behind. Aldi’s stellar performance places it almost level with Waitrose as the big four continue to feel the pressure from discounters. The latest figures from [...]
Tesco veteran Andrew Higginson to chair Morrisons after 15 years at supermarket July 28, 2014 Tesco’s former finance boss Andrew Higginson is expected to be appointed as the chairman of rival supermarket chain Morrisons. Current chairman Sir Ian Gibson has been in the position since September 2007, and last month announced his intention to stand down. Retail veteran Higginson spent 15 years on the board at Tesco, with 11 as [...]
Supermarkets cut fuel prices July 28, 2014 THE LATEST round of petrol price wars kicks off today, as three of the country’s largest supermarket chains lower the cost at the pumps. Tesco, Asda and Sainsbury’s have all slashed 2p per litre off the price of diesel and petrol. Morrisons has not yet followed suit, but says it “will be evaluating [its] pricing [...]
Ex-Asda bosses Archie Norman and Allan Leighton linked to Morrisons chairman role July 27, 2014 Former Asda bosses Archie Norman and Allan Leighton are said to be in the running to become the new chairman of troubled supermarket chain Morrisons. Norman and Leighton were credited with reversing Asda’s fortunes in the 1990s and are both seen as plausible candidates to help revive the chain, which has been losing market share [...]
Zeta Petroleum looks to London for second part of a dual listing July 27, 2014 ZETA Petroleum today becomes the latest oil and gas company to mull a London listing, as it looks to expand in Romania’s market. The company, which is already listed on Australia’s stock exchange, has stakes in three assets in Romania and sees the country as a strong platform from which to build an onshore European [...]
Dividend fears hit Tesco shares July 22, 2014 SHARES in Tesco slumped nearly four per cent yesterday on fears that dividends could be cut as analysts called for a complete overhaul in strategy under its new chief executive. JP Morgan analysts said Unilever director Dave Lewis, due to take over from Philip Clarke in October, would have to reset its UK margins from [...]
Tesco to splash £11m on Dave Lewis and Philip Clarke rescue operation July 21, 2014 Tesco will spend more than £1.8m on its new chief executive Dave Lewis but up to £9.6m on departing boss Philip Clarke as the supermarket puts its faith in the industry outsider to turn its sales around. Clarke’s shock departure and his replacement with Unilever’s president of personal care, who will start in October, comes [...]
Too big to succeed? How Tesco’s new leader can take on the toxic retailer July 21, 2014 The last-minute cancellation of his “40 years at Tesco” party suggests that Philip Clarke’s departure came as a big surprise. But in truth, his future at Tesco had been looking increasingly bleak for months. The man himself conceded as much in March, with his surprise statement at a conference that his days as chief executive [...]