COMEBACK KID July 21, 2009 SHARES in WM Morrison made spectacular gains yesterday after the supermarket said it would beat profit forecasts. The announcement, which coincided with research showing that it is grabbing market share from rivals, confirmed Morrisons’ new status as the City’s favourite retail stock. Morrisons grew by 9.5 per cent in the 12 weeks to 12 July [...]
Jobless rise hits retailers July 28, 2009 RETAIL sales fell faster than expected in July as consumers tightened their belts in the face of rising unemployment, the Confederation of British Industry (CBI) said yesterday. The CBI’s monthly distributive trades survey sales balance was -15 per cent this month, an improvement on -17 per cent in June, but worse than the -12 per [...]
M&S to start search in Autumn June 21, 2009 High street bellwether Marks&Spencer will start the hunt for a new chief executive in September, with Sir Stuart Rose set to make an early departure next year. The City is convinced M&S will appoint an external candidate, with Justin King of J Sainsbury, Andy Bond of Asda and Kate Swann of WH Smith all considered [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 29, 2009 FINANCIAL TIMES CATTLES’ NON-EXECS WIN TEPID SUPPORTLong-suffering investors in cattles, whose shares have been suspended since April, protested yesterday against the re-election of two non-executive directors at the subprime lender’s annual meeting. About a tenth of investors voted against the re-election of David Haxby, senior independent director who has been with the board since 1999, [...]
Davies returns to the high street June 14, 2009 George Davies, the designer responsible for Next, George at Asda and Per Una at Marks & Spencer, is poised to make his comeback to the high street this autumn with his new label, GIVe. Davies is set to plough his own money into a venture that will sell a 150-piece ranges in up to six [...]
Davies returns to the high street June 14, 2009 George Davies, the designer responsible for Next, George at Asda and Per Una at Marks & Spencer, is poised to make his comeback to the high street this autumn with his new label, GIVe. Davies is set to plough his own money into a venture that will sell a 150-piece ranges in up to six [...]
Tesco slams Competition Commission July 16, 2009 TESCO, Britain’s biggest retailer, yesterday hit back at plans by the Competition Commission to introduce a new test into the planning system to combat the dominance of big supermarket chains. Tesco supermarket director Lucy Neville-Rolfe said the move “will cost jobs by deterring investment in the areas that need it most, in what is already [...]
Alliance Boots woos HBOS’s Andy Hornby June 7, 2009 FORMER HBOS chief executive Andy Hornby is poised to become the new chief executive at high street giant Alliance Boot, giving him the chance to restore his reputation. Andy Hornby resigned from HBOS in October 2008, waiving a £1.6m bonus after the bank’s near collapse. Italian billionaire Stefano Pessina has been running Alliance Boots as [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2009 FINANCIAL TIMESCASH-STRAPPED TOURISTS AVOID SPANISH SUNBritish tourists impoverished by the weak pound, German holiday makers worried about recession and a domestic market laid low by the sharpest economic contraction for 40 years: it would be hard to imagine a worse combination for Spain’s tourism industry as bookings in many places are down by at least [...]
IS ANDY HORNBY THE RIGHT MAN FOR ALLIANCE BOOTS? June 7, 2009 GAVIN GEORGE ERNST&YOUNGAlliance Boots will be looking at the top heavy-weight contenders for the role. But the problem is there aren’t that many experienced retail chief executives who are available on the market. Despite HBOS, Hornby’s reputation remains undiminished in retail circles. JOHN STEVENSON KBC PEEL HUNTHornby’s Asda background definitely lends itself to the Boots [...]