Former Boots boss launches Matalan bid November 15, 2009 Former Boots chief executive Richard Baker is at the forefront of a £1.5bn private equity bid for out-of-town retailer Matalan. Advent International, where Baker was recently hired as an operating partner, is the latest name to be added to the string of private equity firms believed to be circling the retailer. Matalan, which specialises in [...]
A general election cannot come too soon November 18, 2009 IF only life were this easy. So the markets are saying that the budget deficit is far too high? Simple, you pass a law stating that it must be cut and then abolished over the next few years (when you are no longer in power) – and then make speeches extolling your own virtues and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 29, 2009 THE SUNDAYSThe Sunday TelegraphRATE HIKE THREATENS EXISTENCE OF RURAL PETROL STATIONSHundreds of rural petrol stations face closure if an “outrageous” increase in business rates is pushed through next April, forecourt owners have warned. Owners of the UK’s 6,000 independent petrol stations will this week launch a major MP-backed campaign to urge a government body to [...]
Tesco set to report slower sales growth October 4, 2009 TESCO, Britain’s biggest retailer, is set to report slower underlying UK sales growth than rival J Sainsbury for the fifth quarter in a row this week, alongside a small rise in first-half profit. But analysts expect Tesco to flag a stronger second-half profit performance, and some see signs it is beginning to close the gap [...]
Tesco beats forecasts with 1.4bn profits October 6, 2009 TESCO chief executive Sir Terry Leahy yesterday said that the UK was “past the low point” of the slump as he unveiled bumper profits and sales. Britain’s biggest retailer said that group sales had jumped 8.3 per cent to £30.4bn during the 26 weeks to 29 August – meaning the giant supermarket chain was ringing [...]
Tesco’s rivals eat into its market share August 18, 2009 TESCO, the UK’s biggest retailer, is continuing to lose market share, according to new figures, despite relaunching its Clubcard. The supermarket recently beefed up its loyalty card scheme, offering shoppers two points for every £1 spent, as opposed to just one. It had hoped the tactics would stop customers shopping at rivals like Asda and [...]
Retail guru Davies to revive high street with GIVe stores September 13, 2009 RETAIL veteran George Davies is set to open the doors to his new stand alone shopping venture, GIVe, this Autumn. Davies, the founder of high street fashion store Next, Marks and Spencer’s womenswear range Per Una and Asda’s George clothing line has ploughed £20m of his own money into the chain. The much-hyped launch comes [...]
Marks & Spencer promotes Dixon to the board fuelling Rose succession talk September 9, 2009 MARKS & Spencer (M&S) has promoted its head of food, John Dixon, to its executive board, strengthening his chance of succeeding Stuart Rose as chief executive next year. M&S has always said it would prefer an internal candidate to succeed Rose, and signs of recovery at the group’s upmarket food business in recent months have [...]
Waitrose flexes its muscle in John Lewis online tie-up deal August 2, 2009 WAITROSE, the upmarket grocer, yesterday announced it plans to sell kitchen and homeware products online in a commercial tie-up with John Lewis, in the hope it can pinch market share from rival retailers. Under the deal Waitrose will sell thousands of its own and John Lewis’s products online from 4 August, placing more pressure on [...]
Waitrose flexes its muscle in John Lewis online tie-up deal August 2, 2009 WAITROSE, the upmarket grocer, yesterday announced it plans to sell kitchen and homeware products online in a commercial tie-up with John Lewis, in the hope it can pinch market share from rival retailers. Under the deal Waitrose will sell thousands of its own and John Lewis’s products online from 4 August, placing more pressure on [...]