All Grocery articles – Page 587
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NewsSuccessor Philip Clarke ‘cut from the same cloth’ as fellow Liverpudlian Sir Terry Leahy
Philip Clarke, who will become only the sixth Tesco chief executive in the company’s 80-year history when he takes the helm next year, has been picked to succeed Sir Terry Leahy for his “wide experience, drive and energy”.
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NewsUncertainty hits food and general retailers
The week in retail was dominated by the surprise announcement of Sir Terry Leahy’s plans to retire as chief executive of Tesco next March. Tesco shares fell more than 2% on Tuesday as the City digested the news, but analysts were happy with the appointment of Tesco veteran Phil Clarke ...
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New Reliance team charged with doubling business in 5 years
Reliance Retail has hired an expert retail management team from Thailand and Europe to spearhead its retail business.“The company has hired a team of 35 senior executives from various retail giants like Tesco Lotus of Thailand, European retail giant Morrisons and the US retailer Walmart. It will work under Gwyn ...
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Lianhua to open 500 stores this year
Supermarket operator Lianhua plans to spend Yn600m (£60.66m) on opening 500 stores this year. They will include 15 shopping centres, 200 convenience stores and 285 supermarkets, mainly in the Yangtze River delta region. The retailer is looking to compete with the aggressive expansion of foreign players like Walmart and Carrefour.After ...
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Kopeika plans IPO
Grocery chain Kopeika plans an IPO this autumn. It is thought the Moscow-based retailer will offer about 30% of its shares. Possible buyers include X5 Retail Group or Walmart.An acquisition of a minority stake in Kopeika would be a good move for X5, as Kopeika competes with X5’s Pyaterochka stores ...
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Ahold Q1 profits up 45.7%
Dutch retailer Ahold posted a 45.7% rise in first-quarter net profit to reach €274m (£226.6m), mainly due to changes in its estimates for provisions for its former subsidiaries.It posted a 1% sales increase in its first quarter to reach E8.7bn (£7.2bn), a 3.4% increase at constant exchange rates. Operating income ...
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NewsM&S Plan A injects £50m profit back into the business
Marks & Spencer has revealed that its Plan A eco and ethical programme has injected more than £50m of profit back into the business last year.
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NewsSainsbury’s chief Justin King paid £8m last year
Sainsbury’s paid its chief executive Justin King almost £8m last year, when the grocer reported its lowest sales growth in five years.
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NewsShop price inflation slows to 1.8% in May
Shop price inflation slowed to 1.8% in May, down from 2% in April, according to the BRC-Nielsen Shop Price Index.
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Opinion
End of an era
Sir Terry Leahy’s retirement plans are a shock - put simply, he has been the greatest retailer of his generation
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NewsWarmer weather lifts retail sales in May
UK retail sales rose 0.8% on a like-for-like basis in May helped by warmer weather towards the end of the month according to the BRC-KPMG Retail Sales Monitor.
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NewsMorrisons poaches Richard Hodgson as group commercial director
Morrisons has poached Waitrose commercial director Richard Hodgson to become its group commercial director.
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NewsSir Terry Leahy to retire from Tesco in March 2011 and Philip Clarke to take over
Sir Terry Leahy is to retire from Tesco in March 2011.
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NewsExpansion drives record year for Iceland
Frozen food retailer Iceland Foods Group has enjoyed a record year with pre-tax profits soaring 19.4% to £135.4m in the 52 weeks to March 26, after a major expansion drive.
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NewsOcado to sell shares to customers if float proceeds
Ocado has written to its customers today saying it will give them the opportunity to buy shares in the company if it goes ahead with its widely-anticipated float.
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Opinion
Yorkshire bitter
Sir Ken Morrison’s attack on Marc Bolland was unbecoming of a retail legend
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NewsSir Ken Morrison: ‘Marc Bolland was no retailer’
Morrisons founder Sir Ken Morrison has launched a scathing attack on Marc Bolland, the grocer’s former chief executive who jumped ship to lead Marks & Spencer.
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NewsM&S could grasp £300m food opportunity
Marks & Spencer’s improved strength in general merchandise enables new chief executive Marc Bolland to focus on a £300m opportunity in food, according to UBS.
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NewsMore Asda acquisitions likely, say analysts
Asda’s acquisition of Netto increases the likelihood that the Walmart-owned grocer will stage a takeover of a non-food retailer, analysts believe.
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NewsHow Netto’s exit from high street will affect the hard discounters
Hard discounters Aldi and Lidl could thrive in the UK after the third-largest player, Netto, disappears from the high street.