LONDON (Reuters) - The chief executives of major retailers J Sainsbury and Marks & Spencer have both taken cuts in their bonuses after failing to meet targets and as recession forces them to scale back growth plans.
J Sainsbury suffered a surprise slowdown in sales over the past three months, with its first-quarter performance coming in below analysts' expectations, despite the extra demand from the Diamond Jubilee celebrations.
Plans for a 55,000 sq ft Sainsbury's store in Westfield in Somerset have split the local community. Some are concerned that a store planned at St Peter's Park could take business away from nearby Radstock and Midsomer Norton and cause traffic problems.
Tesco is facing fresh calls to shake up its lossmaking US business from a group that works with US union-sponsored pension funds. The Change to Win Investment Group, which works with pension plans that serve the interests of the members of five US ...
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