Retail news round-up on April 24, 2014: Sports Direct eyes fresh incentive scheme arrangement, Co-op Food launches Fair and Square price campaign and more
Sports Direct eyes fresh incentive scheme arrangement
Sports Direct’s controversial founder Mike Ashley has thrown down the gauntlet to institutional investors, who blocked a bonus scheme that could have paid him £70m, and is looking at a fresh incentive arrangement, The Financial Times reported. The sports retailer said it would abandon the arrangement, and replace it with a scheme for all eligible employees, members of senior management, executive directors and Ashley. The new scheme will be voted on at the retailer’s annual meeting in September. Ashley will not vote.
Co-op Food launches Fair and Square price campaign
Embattled Co-op Food has unveiled a new ‘Fair and Square’ campaign that sees it bring down prices of its ‘essential staple products’ as it fights the big four and the discounters. The grocer has invested £100m in slashing prices on items including bread, milk, eggs, chicken, bacon and bananas in its stores and placed guides on its new Loved by Us bread range to show how to make loaves last longer. The campaign will be backed by a TV advertising campaign together with other promotional activity to support The Co-operative Food’s 2,800 outlets countrywide. The Co-op said that the strategy is ‘totally self-funded’ and that the price investment is being supported by ‘significant on-going efficiencies’ and cost reductions within the business.
Ebuyer hires Boutique Media to manage media communications
Online electronics retailer Ebuyer.com has hired Boutique Media to handle its media communications activity, The Drum reported. The relationship has already started with several radio campaigns in London and will be followed up with further campaigns throughout the year.