Poundland boosts board with new execs October 15, 2014 POUNDLAND has bolstered its board after hiring the chief executive of packaging group DS Smith and the finance director of pub group Mitchells & Butlers as non-executive directors. The bargain retailer, which made its market debut in March, said Miles Roberts and Tim Jones would join the company on 30 October. “Both Miles and Tim [...]
“Drastic Dave” Lewis is delivering at Tesco with £4.2bn sale of South Korean arm Homeplus to MBK September 7, 2015 Ever since Dave Lewis was appointed chief executive of Tesco last year, he has made strengthening the balance sheet a priority for the troubled retailer. Although Homeplus in South Korea was a profitable business, the focus has been on protecting Tesco’s UK market share in light of increasing competition from lower priced discounters, such as [...]
Higher transport prices could push UK out of deflation – London Report June 14, 2015 RISING petrol costs and an uptick in air and sea transport prices may push the UK out of deflation in May. Data due out tomorrow is expected to show that consumer prices edged up 0.1 per cent year-on-year in May. IHS Global’s Howard Archer said consumer price inflation will likely hover close to zero during [...]
Online marketplace Notonthehighstreet appoints retail veteran Darren Shapland as its chairman June 1, 2015 Online platform for independent retailers notonthehighstreet.com has appointed Darren Shapland as its new chairman. Shapland currently serves as the chairman of the retail businesses Poundland, Topps Tiles and Maplin Electronics. He is also a non-executive director at Ladbrokes and Wolseley, chairing the audit committee. The experienced retailer has also previously worked with other major firms. [...]
Power play: How Duracell intends to capitalise on 2015 Rugby World Cup with ranking system August 23, 2015 A recent documentary on Britain’s double Tour de France winner Chris Froome, was subtitled “the untold story of power is the ability to go harder and longer than anyone else”. In the offices of Duracell batteries, the marketing team nodded sagely at each other. Power and longevity: their two watchwords. After all, that Duracell bunny [...]
Banks in scramble for Barclays’ coveted broking ticket as Deutsche and Credit Suisse invited to re-pitch May 27, 2015 Barclays, the international London-based bank led by Antony Jenkins, has decided to put its broking mandate up for review after four years. The group is currently served by Deutsche and Credit Suisse as joint brokers. A source close to the bank, which is valued at around £45bn, said yesterday the decision to look for new [...]
London now has its own £1 café Caffix on Newman Street in Fitzrovia June 4, 2015 It could be argued, in a city where there's a Pret or Starbucks on every corner, we've already reached peak café. But Caffix, on Newman Street in Fitzrovia, is differentiating itself by pricing every single item at just £1. Customers can grab breakfast snacks such as porridge, pastries and yoghurts as well as lunch items like sandwiches, baguettes, noodle [...]
Best of the Brokers for 09 March 2015 March 9, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HENRY BOOT WH Ireland reiterated its “buy” rating on the construction business, after its “unequivocally positive” announcement that Aberdeen City Council has approved the master plan and business case for a major new exhibition and conference centre. POUNDLAND GROUP Canaccord Genuity reiterated its [...]
FTSE rises after a rally in metals boosts miners – London Report June 18, 2015 BRITAIN’S top share index ended higher yesterday after slipping to a five-month low earlier in the session, with a strong bounce in miners and a rally in US equities helping the broader market. The blue-chip FTSE 100 index finished 0.4 per cent higher at 6,707.88 points. It earlier fell to 6,625.16, its lowest since late [...]
Poundworld owners quids in after selling majority stake to US private equity firm TPG in £150m deal May 15, 2015 Britain's second-largest single price retailer Poundworld has been snapped up by US-based private equity group TPG in a deal reportedly valuing the business at £150m. Poundworld was started from a market stall in Wakefield, West Yorkshire in 1974 by owner Chris Edwards Sr and has since growth to have around 270 stores and over 5000 employees. [...]