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Network Journal 2008 Issue 3 May/June |
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Company news
The news in brief.
Retail bonus
More than 117,000 Sainsbury's staff will share a £47m bonus after the supermarket giant smashed targets as part of its three year recovery plan.
The average payout for staff will be around £400 while managers will receive shares.
Tesco shares
Staff at Tesco who have worked for the retailer for more than one year will be offered almost £100m - a record amount - of free shares as part of its Shares In Success Scheme.
This is one of three all-employee share schemes, the other two are Save As You Earn and Buy As You Earn.
Boots boom
Alliance Boots, the private equity owned health and beauty group, posted trading profits of £771m for the year to March.
Gloom at MK One
Discount retailer MK One has gone into administration casting a huge shadow over the future of the 2,500 staff at the company's 170 stores.
A spokesman for the administrators said the stores would continue to trade while a new buyer is sought.
JJB closures
Retailer JJB Sports will close 72 of its 410 stores after it reported a big fall in its annual profits down 72 per cent to £10.8m.
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