Retail news round-up on June 26, 2015: Pay rise for B&M boss, Nisa hit by grocery price war and Tim Mason eyes bid for Tesco’s Dunnhumby
Big pay rise for B&M chief after stock market flotation
Value retailer B&M has awarded boss Simon Arora a large pay rise after its listing on the Stock Exchange, the Daily Mail reported. Arora will earn a basic salary of £575,000 this year - that is four times higher than the basic pay of £144,000 he received last year.
Grocery price war hits Nisa
Convenience store business Nisa suffered a loss of £3m in the year ended March 31 as it suffered amid the price war raging in food retail. Nisa had previously expected to record a profit of £11m for the year. Annual turnover slipped to £1.4bn from £1.6bn and like-for-like sales rose 2.8%,the Financial Times reported.
Ex-Tesco marketing boss Mason eyes offer for Dunnhumby
Former Tesco marketing director Tim Mason is working with BC Partners on a bid for the grocer’s Dunnhumby data business. Mason’s involvement with the private equity group adds another prominent name to the list of bidders, Sky News reported. Others interested are thought to include John Browett, also a former Tesco executive, who has been in discussions with Apax about buying Dunnhumby.