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Asda managers left in the dark over bonus cuts

Retail Gazette

Asda managers only found out about the supermarkets decision to scrap their annual bonuses when the news broke in the media, sources have told Retail Gazette. The supermarket giant has reportedly scrapped its bonus scheme for more than 10,000 managers due to underperformance, with the news first emerging in The Telegraph earlier this week.

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SurfStitch managing director stepping down this week

Inside Retail

Justin Hillberg, managing director of shared services of SurfStitch-owner Alquemie Group, is stepping down from his role leading the surf brand’s restructure at the end of this week. Hillberg joined SurfStitch as merchandise manager in 2014, before becoming general manager in 2015 and managing director in 2018.

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Asda confirms lay-offs in cost-cutting drive after worst Christmas in years

Retail Gazette

The beleaguered supermarket cut roles for 13 regional managers last week under a shake-up designed to reduce headcount and improve performance, The Telegraph reported. The cost-cutting measures come after Asda delivered its worst Christmas since 2015, with sales falling 5.8%

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Klarna Takes Another Step Toward IPO as it Showcases Profitability and New Walmart BNPL Deal

Retail TouchPoints

since 2015 , handled $105 billion in gross merchandise value (GMV) and has 93 million active customers and 675,000 merchants using its services. In the filing, Klarna did reveal some of its financial results for 2024, including its $21 million in net profit. The Sweden-based company, which has operated in the U.S.

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Sydney Fish Market names Daniel Jarosch as its new CEO

Inside Retail

Jarosh has more than 30 years of expertise and has been the CEO and investment director of Aeria Management Group (previously Sydney Metro Airports) since 2015. Before that, he held senior executive positions in real estate fund management and private equity real estate companies.

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The Beaverbrooks Group Chairman honoured with ‘Lifetime Recognition Award’ for outstanding workplace commitment

Retail Focus

In 2015, he was presented an OBE for Services to Business and Charity in the North of England. Anna Blackburn, Managing Director at Beaverbrooks, said: “Mark’s leadership continues to inspire and shape the direction of our company. This award is testament to the incredible dedication, hard work, and passion of everyone at Beaverbrooks.

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Retail Food Group settles class action filed by former franchisees

Inside Retail

Headquartered in Queensland, RFG is a multi-brand retail food franchise manager, with brands including Gloria Jean’s, Donut King, Brumby’s Bakery, Michel’s Patisserie, Crust Gourmet Pizza and Beefy’s Pies. The company affirmed this move has no impact on its annual financial results.