Morrisons has begun looking for a new chief executive on news that current incumbent David Potts plans to stand down. But the company has plenty of time with Potts not likely to leave for another two years.
Superdry, AllSaints and Levi’s are preparing to do battle in court with Visa and Mastercard over fees they charge. The fashion retailers are seeking compensation for historic charging fees in breach of competition laws.
Tesco has averted pre-Christmas strike action that could have severely damaged its festive season trading. The UK supermarket chain and F+F fashion line owner has secured an above-inflation pay rise for depot staff.
Empty clothes rails, beauty and food shelves at Tesco could be a possibility if a strike at the supermarket giant’s warehouses can’t be averted. Over 1,000 distribution staff have voted to strike from December 16.
There’s speculation that THG founder and CEO Matt Moulding could take the listed company private after he said he regrets listing the firm around a year ago. Its shares rose over 5% in early trading Monday as a result.
UK grocery and general merchandise retailer Morrisons is being acquired by the group that made a rebuffed bid for it earlier this year, with American group Clayton, Dubilier & Rice winning the auction at the weekend.