All articles by Grace Bowden – Page 7
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News
PM rejects Lord Wolfson’s call for relaxed immigration stance
Prime Minister Boris Johnson has dismissed Next boss Lord Wolfson’s comments on the need for businesses to be allowed to hire more foreign workers to fill labour shortages.
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Tesco raises guidance following 'strong' sales and profit surge
Tesco has raised its full-year profit expectations as boss Ken Murphy said the grocer is “outperforming the market” amid a sales uplift and profit spike.
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AO warns supply chain ‘disruption’ will trigger profit decline
AO.com has said that “challenging market dynamics” across the UK and Germany have constrained its sales growth, and that it anticipates a decline in full-year profits as a result.
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Sainsbury’s launches Christmas recruitment drive for 22,000 jobs
Sainsbury’s is creating 22,000 new seasonal roles to deal with increased demand in its “biggest ever Christmas recruitment drive”.
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Zara owner Inditex profits and sales hit ‘historic highs’ bolstered by online surge
Zara parent company Inditex has recorded a spike in interim profits and sales driven by record-breaking second-quarter revenues.
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Morrisons profits slide as supply chain ‘challenges’ bite
Morrisons has reported a slump in profits at the half-year mark as chair Andrew Higginson said the business had weathered a “variety of continuing challenges”, including supply chain disruption and driver shortages.
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JD Sports circles Missguided for possible takeover bid
JD Sports is understood to be considering acquiring a controlling stake in fast fashion etailer Missguided.
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Morrisons takeover bidding war set to go to auction
Morrisons’ rival bidders Fortress and CD&R and set to go to auction to secure a final offer for the supermarket ahead of a shareholder vote on a takeover deal in October.
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Super shed numbers surge across UK as online boom sparks expansion
The shift to online shopping during lockdown has driven an explosion in demand for warehouse space, with 15 million sq ft of ‘super sheds’ built across the UK in 2020.
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Marks & Spencer pulls suits from half its stores as demand slumps
M&S has stopped stocking suits across more than half of its 245 larger-format stores as the retailer responds to the rise in demand for more casual clothing.
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Asda owners plan to roll out 300 petrol station stores
Asda’s new owners the Issa brothers are planning to ramp up the grocer’s petrol station footprint to 300 stores following a successful trial of five Asda On the Move shops.
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Marks & Spencer to keep all stores closed on Boxing Day
Marks & Spencer will keep all 1,000 of its UK and Ireland stores closed on Boxing Day this year to give staff more time to spend with their loved ones.
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Asda eyes Ian McLeod for top job following Burnley exit
Retail veteran and former Asda executive Ian McLeod has reportedly emerged as the frontrunner to succeed Roger Burnley as chief executive of the grocer.
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Asos chair Crozier steps down for rival role
Asos chair Adam Crozier has been appointed chair of BT Group and will stand down from his role at the fashion giant later this year.
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McColl’s considers fresh equity raise to drive Morrisons c-store expansion
Convenience chain and Morrisons wholesale partner McColl’s is exploring an equity raise to drive the expansion of its Morrisons Daily store format.
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Morrisons suitor CD&R mulls counteroffer as bid deadline extended
Morrisons bidder CD&R is considering an increased offer for the supermarket chain after rival suitor Fortress raised its bid last week.
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Data
Ranking: The top 20 retailers to work for in the UK, according to employees
The pandemic has tested retailers and their operations to the limit. But during an unprecedented 12 months, which businesses truly put their people before profit and prioritised the health and wellbeing of their workers like never before? Retail Week has teamed up with Glassdoor to find out the best places to work in retail and why, according to employees.
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News
Mike Ashley mulls stepping down from helm of Frasers Group
Mike Ashley is understood to be considering handing over the reins as chief executive of Group to his future son-in-law and the retailer’s head of elevation Michael Murray.
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The Hut Group snaps up Cult Beauty in £275m deal
The Hut Group has acquired online beauty marketplace Cult Beauty for £275m and raised its full-year sales outlook as a result.
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Fortress expects CMA to clear Morrisons takeover bid
The private equity consortium led by Fortress has said that it does not expect the CMA to oppose its proposed bid for Morrisons following growing opposition from shareholders.