Newspaper retail round up

Profit warnings drop but worst not over

British companies issuing profit warnings fell to a six-year low in the third quarter, but Ernst & Young warns the consequences of the recession are likely to hurt companies into 2010.

From The Sunday Telegraph

Sainsbury’s pushes financial services

Sainsbury’s has launched a marketing campaign for its financial-services offering shoppers extra reward points on their loyalty cards for two years if they sign up for selected financial products.

From The Sunday Times

Ex-Woolworths chief approached for JJB job

Steve Johnson, the chief executive of Woolworths when the chain collapsed last year, has been approached by advisers to JJB about becoming the struggling sports retailer’s chief executive.

From The Independent on Sunday

 

Ted Baker reveals profits fall

Ted Baker revealed an 18% dip in pre-tax profits for the first half of the year from £7.4m to £6m. The designer label warns that next year could be as difficult for retailers as this year.

Claiborne exits department stores under new strategy

Liz Claiborne, the branded clothing company, is pulling out of US department stores Macy’s and Dillard’s as part of a new direction.

From The Financial Times

 

Government faces backbench rebellion over tobacco display ban

The Tobacco Display Ban, proposed under the Health Bill would force retailers to keep tobacco products out of sight. Critics say it threatens small stores and government faces a backbench rebellion.

Online retailers prepare to abandon Royal Mail over strike

Online retailers Argos and Ebay have turned to rival postal delivery services as Royal Mail union workers prepare to go on strike.

High street retailers accused of worker exploitation

Tesco, John Lewis, Levis and Asda are among the UK retailers said to be exploiting workers in Asia with poor wages.

From The Guardian