Sainsbury’s chief executive Justin King was forced to play down reports over the weekend that he could be preparing to leave the retailer. King, who had led the UK’s third-biggest supermarket since 2004, rubbished claims that he could be in line to replace Bernie Ecclestone as chief executive of Formula One, or Marc Bolland as boss of Marks & Spencer.

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Just two days after JC Penney parted ways with its chief executive Ron Johnson, sources have revealed three more top executives at the US retailer have left the company. The New York Post on Wednesday reported chief operating officer Mike Kramer, chief talent officer Daniel Walker and chief creative officer Mike Fisher all exited the retailer this week.

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Shares in Marks & Spencer went through the wringer on Thursday after the retailer released its Christmas trading figures 12 hours ahead of schedule. Marks & Spencer saw more than 5 per cent, nearly £300 million taken off its value at one point on Thursday, although the department store chain was able to take control of its shares by the end of the day, closing down 2.2p at 368.8p.

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Regulatory filings made by Apple Inc on Thursday revealed chief executive Tim Cook took a huge cut on paper for his 2012 compensation package. As head of the tech giant and the United States’ most valuable corporation, Cook’s 2011 package included more than USD 376 million in long-term stock awards.

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Euan Sutherland, group chief operating officer at B&Q owner Kingfisher is set to take on a new position as group chief executive at the Co-operative Group. Sutherland will replace Peter Marks, who will step down as chief executive at the Co-operative annual general meeting next May after 45 years working for the retailer.

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Tesco Plc, the UK’s largest retailer, is thought to be heading closer to appointing a chief executive for its domestic market. A report by the Financial Times on Tuesday suggested an appointment could be made within the next few months and as early as January. Tesco’s chief operating officer Chris Bush has been cited by the FT as the frontrunner for the role, according to people familiar with the situation.

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Online fashion retailer Asos managed to beat analysts’ forecasts with another set of heady results for its first quarter. The retailer on Tuesday announced total retail sales rose 30 per cent to £165.8 million in the three months to 30 November, thanks to strong trading in its domestic UK market and overseas.

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Greggs, the UK’s largest bakery chain, on Monday announced it is looking for a boss after chief executive Ken McMeikan handed in his notice. McMeikan, who has headed up the retailer since 2008, will be swapping the bakery for a position at Brakes, one of the largest food suppliers in the UK and France.

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Apple iMac family. Apple Inc has revealed it plans to move some production of its Macintosh computers from China to the United States next year. As one of the largest technology companies in the world, Apple manufacturers the majority of its products in China, but has come under fire for relying on low-cost Asian labour instead of sourcing US jobs to fill its factory line.

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House of Fraser saw like for like sales rise 5.4 per cent for its third quarter, with online sales up 50 per cent in the 13 weeks to 27 October. The department store group said store refurbishments had continued to drive a solid performance on the high street, while the continued development of the retailer’s online operations has led to a 56.6 per cent increase in sales growth for the year to the end of the third quarter.

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