Up-to-date coverage of the latest events in UK retail.

Sainsbury’s boss makes plans to reassure investors after failed merger

Sainsbury’s chief executive Mike Coupe is planning to convince sceptical investors this week that the grocers can still be successful following the failed merger with rival Asda.

The supermarket chain’s boss is set to outline how it will use data collected from the Nectar loyalty card scheme to boost sales and control losses at its banking division, according to The Times.

The proposed Asda Sainbury’s merger was quashed in April after the Competition & Markets Authority concluded the partnership would drive prices up and lower quality.

Coupe is expected to step down from the helm next year but only 50% of shareholders believe his position won’t be under fire according to a poll by investment manager Alliance Bernstein.

Sainsbury’s capital markets day will be held on Wednesday.

John Lewis and Waitrose jobs at risk following restructuring plan

John Lewis Partnership’s chairman is planning to trim the fat following a restructuring process that will see Waitrose and John Lewis run closer together.

Outgoing chair Charlie Mayfield has drawn up plans to reduce duplication at the business to cut costs sources told The Times,

The department store and grocers have separate HR departments, finance, marketing and procurement departments and separate operating boards in three different head offices - one for Waitrose, one for John Lewis and a third used for shared partnership services.

Marks & Spencer finance boss Singer in shock exit

Marks & Spencer group chief financial officer Humphrey Singer is to leave the retailer less than two years into the role.

Marks & Spencer said that a search for his replacement has begun and he will remain in post until a leaving date is agreed and ensure an orderly succession.

Singer’s exit comes as chief executive Steve Rowe battles to run the business around.

It follows Marks & Spencer’s demotion from the blue chip FTSE 100 index and the creation of a joint venture with etailer Ocado, which will enable M&S to sell its food online for the first time. It is also the second senior departure from M&S, after that of clothing supremo Jill McDonald in July.

Marks & Spencer issued a statement on Saturday confirming that Singer would leave, following a Sky News story.

Sports Direct launces takeover bid for Goals Soccer Centres

Mike Ashley is continuing his acquisition spree after the Sport Direct boss launched an official takeover bid for Goal Soccer Centres.

Sports Direct has already owns 18.93% of the sports pitch operator and has offered 5p a share for just over 80 percent of the remaining shares – much lower than Goals’ 27.2p closing price on its last day of trading before shares were suspended in March.