Two major retailers come under the Fleet Street spotlight today. There’s news in today’s Independent that Morrisons is set to become the latest major company to axe its final-salary pension scheme.
The Daily Telegraph reflects on yesterday’s results from the supermarket, which posted a 7% first-quarter sales rise.
The Indy is among the papers covering a bumper payout in shares for Marks & Spencer boss Sir Stuart Rose. The Guardian reckons the group risks a shareholder revolt (yet another one) over its bonus payments while the Daily Mail dusts off that old ‘This is not just a…’ gag for its coverage.
And The Times reports that former head of food Steve Esom was paid in excess of £1m for his 112 days on the retailer’s board. Nice work if you can get it.
Away from those retailers, the Financial Times reports that distribution giant Wincanton will be dishing out its full dividend to shareholders despite a dip in profits. And The Times profiles the group’s boss, Graeme McFaull.