Retail news from FPJ – Page 340
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Article
M&S rejects latest Green bid
The board of Marks & Spencer has rejected Philip Green’s latest takeover bid for the high street retailer.
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ArticleSainsbury's prepares legal battle over Davis shares
Sainsbury’s board is preparing to take on its former chairman Sir Peter Davis to prevent him receiving any of the £2.3 million of free shares he was awarded.
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Article
Morrisons shares sold off
Wm Morrison shares took a sharp drop after an institutional investor sold off its 1.2 per cent holding in the supermarket.
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ArticleGreen makes new M&S offer
Philip Green has raised his proposed takeover offer for Marks & Spencer to about £9.1 billion.
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ArticleSainsbury's credit downgraded
Sainsbury's supermarket group has been downgraded by credit rating agency Fitch after announcing a profit warning.
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ArticleWhich? report bashes smoothies
Smoothie drinks are not always as fruity and healthy as they make out, according to a Which? survey.
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Article
Green given hurry-up for M&S bid
Entrepreneur Philip Green has been given until midday on August 6 to make a formal offer for Marks & Spencer.
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ArticleMorrisons blames Safeway for profits warning
Morrisons has issued its first-ever profits warning, after uncovering a host of problems at Safeway, the chain it paid £3 billion for in March.
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ArticleSainsbury's names new chairman
Sainsbury’s chief executive Justin King has announced Philip Hampton will replace Sir Peter Davis as chairman of the troubled chain on July 19.
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ArticleSainsbury's snack attack expansion
Sainsbury's will "definitely" be rolling out its fresh fruit snack packs, launched last week, to stores nation-wide, buyer Dominique Schulenburg confirmed to freshinfo this week.
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ArticleInterest in 5-a-day rises
Interest in the 5-a-day logo from the department of health is growing as are the activities and outreach to consumers and response from the public, the department reports.
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ArticleMorrisons to sell off small Safeway stores
Morrisons will sell up to 120 smaller Safeway stores in an attempt to reverse poor trading from the supermarket chain.
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Article
Hargreaves looks for greener asparagus
Hargreaves Plants has just completed planting its asparagus variety-testing site in West Norfolk in a bid to bring more true green types to UK supermarket shelves.
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ArticleSainsbury's chairman quits
Sainsbury’s has confirmed that chairman Sir Peter Davis is to step down with immediate effect.
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ArticleGreen threatens to abandon M&S bid
Entrepreneur Phillip Green has told his M&S bidding team that he would end his takeover campaign by July 30 unless shareholders placed pressure on the M&S board to open up negotiation talks.
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ArticleSomerfield announces healthy profits
Somerfield is expected to accelerate its store refit programme following the announcement of full-year profits of £41.1 million.
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ArticleSainsbury's shareholders put on the pressure
Sainsbury’s shareholders are demanding that the company’s executive pay scheme be ditched otherwise a massive shareholder revolt will take place at the annual general meeting on July 12.
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Article
Carrefour boss signs new investor pact
Carrefour’s chief executive Daniel Bernard has signed a new pact with two of the French supermarket’s core shareholders, giving them control of around 16 per cent of its share capital and a quarter of its voting rights.
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ArticleFSA to interview M&S chief executive
Stuart Rose, chief executive of Marks & Spencer is to be interviewed by the Financial Services Authority as part of its investigation into insider dealing in M&S shares.
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ArticleSainsbury's bid to thwart shareholder revolt
A senior director at Sainsbury’s is attempting to broker a last-minute deal with city investors to avert a damaging revolt over an award of free shares worth £2.5 million to Sir Peter Davis.