Mothercare has appointed former Next Directory and Shop Direct executive Mark Newton-Jones as interim CEO following the resignation of Simon Calver in February.In a career spanning some 30 years, Mr Newton-Jones was previously the CEO of Shop Direct, where he led the transformation and turnaround of the online and home...
The British Retail Consortium (BRC) has said that UK retail sales showed a marked slowdown in February, dragged down by sluggish food sales but salved by a strong online performance.Helen Dickinson, director general, BRC, said: "Online sales continued to show strong growth in February for what is generally a relatively...
Halfords is today hosting a site visit for investors to its refurbished Evesham store, focusing on the programme of its Getting Into Gear overhaul programme announced last May. The event will cover the changes that have been made in-store and Halfords added that although these are still at an early...
According to reports, the chief executive of the Co-operative Group, Euan Sutherland, has written a letter of resignation following opposition to his radical reform proposals to get the group on track.Mr Sutherland, who joined the group in May, is thought to have said that the group is simply “ungovernable” in...
The Co-operative Group has said that it will increase executive pay and bonuses despite seeing “perhaps the worst year" in its 150-year history in 2013.The group said that the move would bring executive pay into line with other similar companies.Last month, the group announced a UK-wide survey asking people about...
Online fashion retailer Boohoo.com has been valued at £560 million ahead of a highly anticipated flotation next week.The young fashion website was founded in 2006 and currently has 2.3 million active customers.The company is floating its shares on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange,...
US supermarket chain Safeway will be sold to investment group led by Cerberus Capital Management, the owner of grocery chain Albertsons.Safeway CEO Robert Edwards will become CEO of the new firm, while Albertsons’ CEO will become executive chairman."There is a clear and compelling rationale for this merger,'' Mr Edwards said...
Irish fruit firm Fyffes and US company Chiquita will form the world’s largest banana company when they merge in a deal later this year.ChiquitaFyffes, as the new company will be named, will be worth approximately $1 billion."This is a milestone transaction for Chiquita and Fyffes that brings together the best...
The UK economy will regain the level it hit prior to the 2008 financial crisis this summer, according to the British Chamber of Commerce.According to the business group, the second quarter, starting in April, will see GDP exceed the level seen at the start of 2008."Our economic recovery is gaining...
Staff at the John Lewis Partnership will receive a 15% annual bonus this year, the equivalent of almost eight weeks’ pay, after the group said 2013 had been a “good year”.The bonus, paid to all the 91,000 staff at the group, is lower than the 17% seen the previous year...
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