Sainsbury’s CFO role expanded June 25, 2015 SAINSBURY’S said yesterday it has expanded finance chief John Rogers’ responsibilities to include business development and online as one of the retailer’s senior directors prepares to step down. Helen Buck, who was previously responsible for business development, will be stepping down at the end of July to join wholesaler Palmer and Harvey as chief operating [...]
Arm Holdings is just the start of a great British asset sale July 18, 2016 The UK’s vote to leave the EU was seen by some Brexiteers as a chance to reclaim the country’s borders, draw up a new fortress UK, as well as make a protest vote against the rise in inequality after the financial crisis. But in the investment markets, the drawbridge has already been lowered. Thanks to [...]
Eagle Eye wins Sainsbury’s vouchers deal July 7, 2015 EAGLE Eye Solutions, a retail and hospitality voucher firm backed by Sir Terry Leahy, saw shares jump 7.3 per cent yesterday after striking a deal with the ex-Tesco boss’s former supermarket rival Sainsbury’s. The company, which floated on Aim last year, will handle all of Sainsbury’s digital offers and vouchers using its so-called AIR platform, [...]
Investors told to reject Sainsbury’s incentive plan at the annual general meeting next week July 1, 2016 A shareholder advisory group has told its members to oppose Sainsbury's incentive plan at the retailer's annual general meeting (AGM) next week. In a report for investors, Pensions & Investment Research Consultants (PIRC) said of Sainsbury's long term incentive plan: "The maximum potential award under the proposed plan is 250 per cent of salary, which is considered excessive, [...]
Investors look to production data as FTSE flattens June 6, 2016 Industrial data will be in focus this week as investors look for signs of life in the sector. With rising fears of a second quarter slowdown for the UK economy, poor industrial and manufacturing production figures on Wednesday could stoke broader fears. In March industrial production was wallowing 10 per cent below pre-crisis levels, with the [...]
Asda boss Andy Clarke to check out amid sales slump June 6, 2016 Asda CEO Andy Clarke, the longest-serving of the big four supermarkets' bosses, confirmed today he's stepping down. Asda's incoming chief operating officer Roger Burnley, who is not set to start his new job until October, is likely to be Clarke's successor. Asda poached Burnley, a former Sainsbury’s top director, last year to become Clarke's right [...]
Sainsbury’s gives up its discount dreams as it ditches Netto UK stores July 4, 2016 Sainsbury's is ditching its partnership with European discounter Netto and plans to close 16 Netto UK stores in August. The joint venture between Dansk Supermarked Group's (DSG) Netto and Sainsbury's began in June 2014; around 400 jobs in the stores are now at risk as Sainsbury's focuses instead on its acquisition of Argos owner Home Retail Group. Read more: Sainsbury's has named new chief executive [...]
UK advertisers have most faith in Paloma, who is enjoying the good life June 10, 2016 Paloma Faith sold out more than just concert venues last year. New research has today named her as the most popular popstar among advertisers. Faith was the artist of choice for four major brands – Calvin Klein, Dixons, Simply Be and Eastern Western – in 2015, according to research by Adbreakanthems and BPI. Read more: [...]
Sainsbury’s Bank shops for new non-exec: Michael Ross takes on digital strategy June 29, 2015 Sainsbury’s Bank has gone shopping in the lingerie department for a new non-executive director and appointed the former chief executive of Figleaves.com to the board. Michael Ross will join with immediate effect and help develop its banking arm’s digital and data strategies, the retailer said yesterday. Ross founded the online lingerie retailer Figleaves in the [...]
Sainsbury’s shares rise as Coupe insists store strategy is working June 10, 2015 SHARES in Sainsbury’s rallied yesterday as the supermarket chain insisted it was seeing “encouraging signs” of recovery, despite reporting its sixth consecutive quarter of declining underlying sales. Britain’s third-largest grocer said total sales fell 0.6 per cent, while sales at stores open more than a year fell by 2.1 per cent, excluding fuel, in the [...]