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.
LONDON (Reuters) - Britain's third largest supermarket group J Sainsbury has entered the e-book and social network market with the purchase of HMV Group's shareholding in Anobii for a nominal 1 pound ($1.55).
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 ...