Payback time but Bank of England’s bonus clawbacks are rife with pitfalls July 30, 2014 Quite literally, yesterday it was payback time for Britain’s banking industry. Regulators’ demands that lenders must force staff to hand back bonuses awarded as long as seven years earlier delivers a belated sense of justice for those clamouring for more robust post-crisis retribution. The Bank of England’s timing could hardly have been better, coming [...]
Aldi closes in on Waitrose as the discounters scent blood July 29, 2014 The challenges facing Britain’s big four grocers was further laid bare yesterday after new data revealed that Aldi was poised to overtake Waitrose to become the country’s sixth biggest supermarket. Kantar Worlpanel data released yesterday showed Aldi’s sales jumped 32 per cent year-on-year in the 12 weeks to 20 July, bringing its market share within [...]
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 [...]
Abandon your prejudices and drink rosé this summer July 29, 2014 It’s high summer and that can only mean one thing: death by rosé. At the barbecues and on the patios of England, pink wine is being served by the gallon. We all smile politely and neglect to tell our hosts that most of it is barely drinkable. Like others I have always been a rosé [...]
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 [...]
B&M Retail hails strong maiden results after IPO delivers windfall payout July 28, 2014 B&M Retail, the discount shopping chain, yesterday reported a strong start to the year in its first trading update since its stock market debut in May. The fast-growing chain, which sells everything from bedding to barbecues, said group sales jumped by 31.9 per cent to £367m in the first quarter to 28 June. UK sales [...]
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 [...]
Giraffe restaurant’s co-founders Juliette and Russel Joffe quit July 28, 2014 Giraffe’s co-founders Juliette and Russel Joffe quit their jobs at the restaurant chain yesterday, just over one year after they and fellow founder Andrew Jacobs sold the chain to Tesco. Jacobs is staying on in his job, while the Joffes will continue some work with Tesco in a consulting capacity. Giraffe has 60 sites, including [...]
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 [...]