Up-to-date coverage of the latest events in UK retail.
7:53am Sainsbury’s shares fall as CMA fears set in
Sainsbury’s share price fell 7% yesterday amid fears that the regulator could put a stop to its plans with merge with Asda.
The two big four grocers have appealed to the Competition Appeal Tribunal for a judicial review of the Competition and Markets Authority’s investigation into their proposed merger.
The move has spooked investors, who fear that the landmark merger with Asda may not go through.
7:25am Missguided enlists Andy Bond as strategic advise
Missguided has recruited Pepkor Europe chief executive Andy Bond as a strategic adviser, Retail Week can reveal.
Bond will act as a sounding board for Missguided founder and chief executive Nitin Passi.
The retail titan is a former Asda chief executive and has focused his career on the value sector.
7:17am TFG management reshuffle as Hobbs’ Meg Lustman exits
The Foschini Group is reshuffling its management team as Hobbs chief executive Meg Lustman exits.
Lustman will leave the group in January and will be replaced by Whistles boss Justin Hampshire. Hampshire will, in turn, be replaced by Helen Williamson.
The group has also recruited Simon Pickering as managing director of Phase Eight.
The appointments come as the group reports a “robust” set of first half figures for the six months to September 30, 2018.
Like-for-like sales grew 2.3% although EBITDA dropped slightly, going from £14.8m to £13.7m. Excluding a £2.5m write off for House of Fraser, EBITDA rose to £16.2m.
