Mrs M&S tightens her purse strings, as Steve Rowe’s total pay cut by £400,000 June 10, 2016 Marks & Spencer's Steve Rowe has recently tried his hand at profiling to understand what his customer considers value for money, but it's the figures in the retailer's remuneration report that might be more interesting to him at the moment. The retailer's annual report, which was released yesterday, revealed that the new chief executive's pay had been [...]
Step off that commuter train: Here is a list of the happiest jobs to have June 10, 2016 Feeling sorry for yourself on the commute in to work? You might want to stop reading here. New research has found those who categorise their profession as ‘homemaker’ are the most happy. Read more: Here's how to keep your staff happy during Euro 2016 On the other end of the spectrum, those who are least [...]
Tesco takes a hit on sale of Giraffe restaurants June 10, 2016 Tesco has confirmed it will sell its Giraffe restaurant chain to British restaurateur and food empire giant Ranjit Singh Boparan, the owner of Harry Ramsden's for an undisclosed fee. The supermarket giant also announced today it will offload its Turkish supermarket arm, Kipa in a deal which reduces the company's debt burden by £110m. Tesco bought Giraffe [...]
Sainsbury’s has named new chief exec of Home Retail Group June 10, 2016 Sainsbury's has announced that its finance chief John Rogers will take on the role of chief executive at Home Retail Group when the supermarket's takeover of the company is completed. Rogers will replace John Walden in the role – Walden has announced his intention to step down from the helm of the Argos owner when the [...]
High street sales continued to decline in May as buyers preferred to shop online June 10, 2016 The high street continued to suffer a difficult period in May as data released today showed year-on-year sales were down 1.9 per cent. The fall comes one month after BDO's High Street Sales Tracker (HSST) registered the largest drop in sales since the height of the recession. Apart from a boost during the January sales [...]
City Moves for 10 June 2016 | Who’s switching jobs June 10, 2016 Whistl Whistl, the second largest postal company in the UK, has announced the completion of the management team for its packets and parcels offer with the appointment of Steve Vass as development director. He will continue the development of Whistl’s carrier management interface, its relationships with carriers and advising on the most appropriate solution and [...]
As Amazon Fresh launches in London, does it pose a real threat to UK supermarkets? June 10, 2016 Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, says Yes. The last thing that the traditional British supermarkets want is another challenge to their model – they’re still busy fending off the shock of Aldi and Lidl’s sharp pricing model. Online grocery sales are growing well ahead of the overall market, so it’s [...]
MPs have called Mike Ashley to give evidence to the joint select committee on BHS June 9, 2016 It seems MPs just can't get enough of Mike Ashley; the retail tycoon is now being called to give evidence in front of the joint select committee which is looking into the sale of BHS. The boss of Sports Direct responded to the committee saying he will provide written evidence. Ashley admitted this week that [...]
Argos’ financial services profits wiped out by compensation payments June 9, 2016 In its quarter trading update today the owner of Argos, Home Retail Group, said it is shelling out £30m to compensate customers of its financial services arm. The company has launched a review after finding out that is charged customers on the "buy now, pay later" scheme late payment fees by mistake, affecting up to 10 per [...]
Auto Trader grows sales, earnings and profit in first year as a listed company June 9, 2016 Online car selling service Auto Trader grew sales and profit in its first year as a publicly listed company The figures Revenue increased by 10 per cent to £281.6m in the 2016 financial year, up from £255.9m in 2015. Operating profit increased by 27 per cent to £169.6m, from £133.1m, and earnings per share grew [...]