Retail news

• Primark targets Chicago for next stage of US growth

  04-07-2019 18:51 via ft.com
  Value fashion retailer now sees German operation as main headache
  
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• Bumper payout for Sainsbury's boss fuels investor anger at AGM

  04-07-2019 18:48
  Mike Coupe defends £250,000 rise after independent shareholders question award despite failed Asda mergerMike Coupe, the boss of Sainsbury’s has been criticised by independent shareholders over a bumper pay package he was awarded last year despite the failure of a planned merger with Asda and a slump in the share price.“Why are you paying so much for so little?” asked John Farmer, an independent investor addressing the supermarket’s board at the company’s annu
  
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• A quarter of UK betting shops could close, with 12,000 jobs at risk

  04-07-2019 17:39
  William Hill may shut 700 shops as it looks to offset £820m loss from FOBT reformA quarter of betting shops on UK high streets have been slated for closure, putting 12,000 jobs at risk, with William Hill the latest bookmaker to blame job cuts on stricter regulation of fixed-odds betting terminals (FOBTs).Restrictions cutting the maximum stake on the controversial betting machines from £100 per spin to £2 came into force in April after a lengthy campaign by activists and MPs, wh
  
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• William Hill says 4,500 jobs at risk as FOBT reform bites

  04-07-2019 11:50
  Bookmaker says it may axe 700 shops as it reviews operations to offset £820m loss from new rulesThe bookmaker William Hill could close 700 high street shops, putting 4,500 jobs at risk, as new restrictions on fixed-odds betting terminals (FOBTs) begin to hit its profits.The firm had warned that it could shut 900 shops after reporting a loss of £820m in the first six months of the year following the decision to slash maximum stakes on FOBTs from £100 to £2. Continue readin
  
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• William Hill may axe 700 shops as FOBT reform bites

  04-07-2019 11:50
  Bookmaker says 4,500 jobs at risk from closures as firm reviews operations to offset £820m loss from new rulesThe bookmaker William Hill could close 700 high street shops, putting 4,500 jobs at risk, as new restrictions on fixed-odds betting terminals (FOBTs) begin to hit its profits.The firm warned earlier this year it could shut 900 shops after reporting a loss of £820m in the first six months of the year following the decision to slash maximum stakes on FOBTs from £100 to &p
  
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• Ecommerce company IndiaMART shares soar on debut in rare IPO

  04-07-2019 09:04 via ft.com
  Enthusiasm for Intel-backed platform reflects investor hunger for new listings
  
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• Bumper payout for Sainsbury's boss likely to rattle AGM

  04-07-2019 08:35
  Anger at £250,000 rise for Mike Coupe despite failed Asda merger and falling share price and profitsA bumper payout for Sainsbury’s boss Mike Coupe despite the collapse of a planned merger with Asda is expected to prompt questions at the annual shareholder meeting on Thursday.At least two shareholder advisory groups have told investors to vote against Sainsbury’s remuneration report in protest against Coupe’s £251,000 pay rise to £3.9m despite a fall in the su
  
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