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With the news this morning that the CEO of Sainsbury's, Justin King, is to step down after 10 years with the business, we take a look back on the career of a retail legend in an extended news feature.Best before end?Having grown into the largest grocery retailer in the UK...
Sainsbury's has announced that its chief executive Justin King will be stepping down after 10 years.Responsible for the 'Making Sainsbury's Great Again' initiative, Mr King was brought in to halt the company¹s slide in market share in 2004. By 2008 the company had announced 12 consecutive quarters of sales growth....
Furniture and homeware giant Ikea has said that 2013 saw it reach record profits and increase market share across almost all of the countries in which it operates thanks to improving customer spending.The company¹s president Peter Agnefjall said that sales in Europe were starting to recover and that emerging markets...
British accessory maker Mulberry has warned that profits for the year will be substantially below forecasts due to a sharp decline in sales over Christmas and wholesale orders that have been in Korea.In a trading update covering the 17 weeks ended January 25th, Mulberry said that retail growth in its...
Carphone Warehouse Group has announced that it has entered into an agreement with Samsung that will see it open over 60 Samsung standalone stores across Europe.The move follows the opening of three standalone stores in Spain 2013, also operated by Carphone Warehouse.The new stores will be rolled out in the...
Over a billion smartphones were shipped last year, a 38% increase on the previous year, with Samsung increasing its lead as the world’s biggest manufacturer according to market research firm IDC.Over half of all the mobile phones in the world are now smartphones."Among the top trends driving smartphone growth are...
Shares in technology giant Apple fell by almost 9% following a warning to the markets that sales for 2014 are likely to be behind expectations.The company said that profits for the quarter ending January were flat, although they have not fallen since 2003, and despite a strong performance in China,...
A new piece of legislation from the EU, the Consumer Rights Directive (CRD), comes into force later this year, sparking major changes for retailers, particularly online.As part of the directive, the cooling off period for goods will be extended from 7 to 14 days, automatically ticked boxes for add-on products...
Newsagent and convenience store firm McColl’s is set to raise £50 million through a flotation on the stock exchange as early as next month, according to reports.The group is currently owned by its management, led by founder James Lancaster who between them control 80% of the chain.The move is thought...
Premier Foods has announced a deal with US investment company The Gores Group which will see £45 million invested in its Hovis brand.Under the terms of the deal, the American firm will take 51% in the bread division of the British food group.Commenting on the transaction, Gavin Darby, chief executive...
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