Next and Frankie & Benny’s bosses under fire for hefty pay packets retail Frankie & Benny’s and Next bosses are under fire for hefty bonuses after both companies received government support during coronavirus measures. Next chief Simon Wolfson took home almost £4.4m last year, up 50 per cent on the year before, including an annual bonus worth 100 per cent of his basic salary. Meanwhile, Andy Hornby, chief [...]
Sales boost for Next as shoppers take back to the high street Hight Street boost High street giant Next saw a boost in sales in the first quarter of the year it continues to feel the lift of stores reopening after covid lockdowns.
First Gap shop opens in Next’s Oxford St shop in retailer’s return to UK high street OXFORD ST The first Gap-branded shop within a Next store has opened on Oxford St, after the two firms entered a joint venture franchise. The fashion retailers have joined forces with Next managing Gap’s e-commerce business plus Gap-branded “shop-in-shops” at Next stores. The opening marks Gap’s physical return to the UK high street after the US retailer [...]
Next to wind down Russian operations after invasion of Ukraine March 7, 2022 Fashion retailer Next will close its Russian operations following the invasion of Ukraine, as British brands move to condemn the country. The clothing retailer informed staff at its Russian distribution hub that it will be winding down the operation in an orderly way. It told staff its website will be closed for Russian customers too, [...]
Next warns of sales slowdown while stock availability still ‘challenging’ November 3, 2021 Fashion retailer Next this morning warned it is anticipating a sales slowdown next quarter as pent-up post-lockdown demand eases. In a trading update, the clothing firm said its full price sales in the thirteen weeks to October 30 were up 17 per cent compared to pre-Covid levels. However, it warned its fourth quarter growth would [...]
Next boss: Not constructive to say UK is addicted to cheap overseas labour October 6, 2021 Next boss Lord Wolfson has hit back at the Prime Minister’s claims that businesses like his want the government to “fix every problem” by lifting immigration controls. Lord Wolfson, who supported Brexit, told CityAM last month he would urge the government to ease immigration in line with demand, to help fill roles in retail and [...]
Brexit-backing Next boss calls for speedy government intervention in staff crisis September 29, 2021 Next, headed by Brexit-backing boss Lord Wolfson, has called on the government to relax immigration rules to ensure its operations run smoothly this Christmas. “It’s a question of availability, we need a system that’s geared up to give more visas,” Wolfson told CityAM. Wolfson hit back at critics who said the country had got what [...]
City Moves: Who’s switching jobs in the Square Mile this week? September 1, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Pictet Wealth Management poaches Goldman Sachs veteran as new CEO Pictet Wealth Management has appointed a Goldman Sachs veteran as its new CEO, following the departure of its long-standing lead Heinrich Adami. Joining next week, Robert [...]
Next boss calls for UK immigration shakeup amid lorry driver shortage September 1, 2021 Lamenting the national lorry driver shortage, Next boss Lord Simon Wolfson has called on the Home Office to shape up its immigration rules to allow overseas hauliers into the UK. The trickling supply of HGV drivers has led to 94 per cent of hospitality businesses reporting problems with the delivery of products, according to trade [...]
‘Death by PowerPoint’: Next boss on Zoom and the future of remote work September 1, 2021 Next boss Lord Simon Wolfson has said endless video meetings risk “death by PowerPoint” as firms begin to feel the benefit of workers returning to the office. The retail chief, the longest serving chief executive across the FTSE 100, earlier this year likened Zoom calls to lectures – and yesterday warned digital conferences can become [...]