date:May 23, 2014
ofit fell 6% to 3.32 billion ($5.6 billion) last year as more Britons defected to budget retailers Aldi and Lidl, and international earnings sank. The fourth-quarters 2.9% drop in UK same-store sales was the worst performance since at least 2001.
Clarke and his outgoing Chief Financial Officer Laurie McIlwee are not the only UK retail bosses not to receive bonuses. Dalton Philips, CEO of William Morrison Supermarkets Plc and Marks Spencer Group Plc (MKS) head Marc Bolland are also losing out.