Store managers and employees responsible for the fresh food departments and who have met individual store targets will be in line for a Christmas windfall. All other staff will receive nothing after the company failed to meet targets in the first six months of its financial year. Executive directors will also have to make do without their Christmas bonus.
In the Sunday Express, Taylor Nelson Sofres data showed that Safeway is losing market share to its rivals.
According to TNS switching data figures in the three months to mid-November Safeway suffered a swing of around minus 5% to Sainsbury and about minus 10% to Tesco and Asda.
The figures show Asda taking customers from every other store, while Sainsbury attracted customers from Marks and Spencer as well as Safeway.
Marks and Spencer has suffered a sharp decline in childrenswear sales, reports the Mail on Sunday.
The paper quotes figures from the Taylor Nelson Sofres Fashion Trak survey which show M&S’ share of the £5.6bn children’s clothing market has fallen from 6.4% to 5.5% in the past six months. The biggest fall has been in girls clothing, where share of the two to eight-year-old sector has fallen from 8% to 5%.
M&S has also lost the top spot for sales of school uniforms to Asda.
The MoS also reports that supermarkets are continuing to win an increasing share of the £12.4bn health and beauty market from Boots and independent retailers.
Retail analyst Richard Hyman of Verdict told the paper: “Tesco and Asda in particular have seen significant growth in market share in the past year and Boots’ response has been relatively slow.”
Cadbury Schweppes has tabled a $4bn bid for Adams, the chewing gum and functional foods business being sold by Pfizer, the Business said.
Cadbury has been keen to buy Adams, which owns the Dentyne and Trident gum brands, as well as Halls cough sweets, since the Hershey sale collapsed earlier this year. Other bidders for Adams could include Kraft, Nestlé, Colgate-Palmolive and PepsiCo, the paper concluded.
Retailers could have to make hefty revisions to their accounts under new proposals to ban the practice of using sale and leaseback deals to boost profit and cashflow figures, according to the Independent on Sunday.
The UK's Accounting Standards Board is proposing a change which could see companies have to record such transactions as a loan, and so increase debt.