Tesco chief Sir Terry Leahy to retire
Tesco has announced that chief executive Sir Terry Leahy is to retire from the supermarket chain next March. Sir Terry has led the chain for more than 13 years and has overseen its rise to become the UK’s leading supermarket. He is to be replaced by international and IT director Philip Clarke, who said he was “honoured and delighted” to succeed Sir Terry. BBC NEWS

BRC-KPMG Retail Sales Monitor May 2010: Sales Revive But Uncertainty Remains
UK retail sales values rose 0.8% on a like-for-like basis from May 2009, when sales had fallen 0.8%. On a total basis, sales were up 3.0% against a 0.8% increase in May 2009. BRC NEWS

Tesco and Sainsbury’s are ‘most likely’ World Cup winners in retail
Tesco and Sainsbury’s are going into the World Cup with the “competitive advantage” over their supermarket rivals, according to market analyst Verdict Research. RETAIL TALKS

Morrisons appoints new Group Commercial Director
Morrisons has announced the appointment of Richard Hodgson as Group Commercial Director. Group Trading Director Martyn Jones will move into a new role as Group Corporate Services Director. IDG RETAIL ANALYSIS

WH Smith sees sales hit in ash cloud crisis
WH Smith posted a fall in third-quarter sales as travel disruption due to the Icelandic volcanic ash cloud hit the firm’s airport business. The company said its financial position was in line with market expectations. CITY AM

Northern Rock to cut 650 jobs by year end
Nationalised bank Northern Rock has said it plans to cut 650 jobs by the end of this year as part of its ongoing restructuring process. It has pledged to avoid compulsory redundancies “wherever possible”. Chief executive Gary Hoffman said the bank had to “align our staffing level to match the smaller size of the business”. http://tinyurl.com/2vfplu8