Tesco director Simon Belsham to become chief executive of online marketplace Notonthehighstreet March 20, 2015 Tesco's online managing director Simon Belsham is joining emerging etailer Notonthehighstreet.com as its new chief executive. Belsham, who has been at Tesco.com for just over two years, will join the online marketplace for small businesses in May 2015. Belsham has a strong background of online retail. Prior to his current role, he worked at [...]
Tesco takes over 21 superstores in £733m deal with British Land March 20, 2015 Tesco has sealed a £733m deal with British Land, in which the supermarket is taking back 21 of its superstores. The company says this will help it “strengthen its core UK business”. In exchange, British Land will take over Tesco's stake in three shopping centres, three retail parks and three standalone stores. These are currently [...]
DIY group Homebase shops at Tesco to pick new boss Echo Lu March 19, 2015 HOMEBASE has poached Tesco director Echo Lu to be its new managing director and lead a turnaround at the retailer that will see it close a quarter of its shops. Lu, who was previously head of group business planning and insight at Tesco, will join on 20 April, replacing its longstanding boss Paul Loft, the [...]
Homebase snaps up former Tesco exec Echo Lu March 19, 2015 DIY chain Homebase has poaches its latest managing director from the embattled supermarket Tesco. Echo Lu, who was previously head of group business planning and insight at Tesco, will join on April 20. John Walden, chief executive of Home Retail Group, said. Echo has significant, broad-based retail experience both in the UK and the rapidly evolving [...]
BHS parent Retail Acquisitions appoints property consultants to “review” store portfolio March 18, 2015 Retail Acquisitions has appointed property consultants to review BHS' 171-strong store portfolio, as the new owner gets to grips with its loss-making business. BHS had already taken the decision to shut its Oxford and Foss Park stores ahead of Sir Philip Green's sale of the business, and these will close their doors “in the coming [...]
Sainsbury’s says fightback plan paying off March 17, 2015 SAINSBURY’S chief executive Mike Coupe said the supermarket chain was seeing “some signs of recovery” after launching a £150m fightback plan last year, despite underlying sales falling for the fifth quarter in a row. Like-for-like sales, excluding fuel, fell by 1.9 per cent in the 10 weeks to 14 March, its final quarter, with sales [...]
Sorrell sets sights on Club Card company as WPP empire grows March 17, 2015 ADVERTISING firm WPP confirmed yesterday that it would be submitting a bid to buy a majority stake in data analysis company Dunnhumby. Chief executive Sir Martin Sorrell confirmed WPP’s intention to take the consumer insight firm off Tesco’s hands at the Deloitte Media and Telecoms conference. Sorrell is said to be interested in Dunnhumby as [...]
FTSE rises ahead of Osborne’s pre-poll Budget – London Report March 17, 2015 BRITAIN’S top share index edged higher yesterday to extend a recent rebound from last week’s lows, with gains coming in ahead of key policy announcements from the UK and the US. The FTSE 100 rose 0.5 per cent to 6,837.61 points, as shares of natural-resources producers ticked up and utilities pushed higher, led by a [...]
Why Engawa is an unusually well thought-out restaurant March 17, 2015 In Japan, the fax machine is still king of the office. While the western hemisphere abandoned it at the first whiff of email, the Japanese persevered, appreciating the personal touch that comes from a hand-written note, even if that note has been broken down into a series of blips and hisses and reassembled somewhere far [...]
Sainsbury’s share price dips despite sales falling less than expected March 17, 2015 The figures Shares in Sainsbury's were trading down 1.1 per cent at 265 pence per share in late-afternoon trade today. They had initially opened more than two per cent higher this morning. The supermarket announced like-for-like retail sales including fuel fell 3.9 per cent in the 10 weeks to 14 March on price deflation and greater [...]