Business briefs: Nike | Trinity Mirror | Citigroup | CSQ

SPORTSWEAR giant Nike is set to open a store in Edinburgh after signing a ten-year lease on the former JJB shop at Craigleith Shopping Park.

It plans to begin trading from the unit on 25 April.

The park, which is managed by Henderson Global Investors on behalf of its £1.1 billion UK Retail Warehouse Fund, is now full again.

Fund manager Michael Neal said: ”Craigleith is once again fully let, just four months after the demise of JJB with a new and exciting facia that clearly has far greater appeal and relevance to the consumer than the outgoing operator.”

• Newspaper publisher Trinity Mirror yesterday admitted that the “size of some of the remuneration packages – particularly their cash elements – had become out of balance” after its former chief executive Sly Bailey became a high-profile scalp of the shareholder spring.

Bailey, who left the business in June, got £1.4 million in 2012, according to the firm’s annual report. Simon Fox, her successor, was paid £186,000 although this was bumped up by shares awards of around £1m. Mark Hollinshead, chief operating officer, who joined the board in October, got £98,000.

• Citigroup reported a higher-than-expected 31 per cent rise in first-quarter profit as it drew down loss reserves for mortgage loans and revenue from its securities and investment banking business swelled.

The third biggest US bank said net profit rose to $3.8 billion (2.5bn), from $2.9bn a year earlier.

The results were lifted by the release of $652 million in loss reserves, of which $351m was from the Citi Holdings portfolio that is largely composed of mortgage assets. These assets are tied to US house prices, which have been rising.

• Fledgling building surveyor CSQ Consult has hired Ewan Galloway from Capita Symonds to be its equity director.

Galloway joins the team of four directors who formed the Edinburgh-based building surveying and project management consultancy ten months ago.

CSQ was launched last July by former senior staff at BNP Paribas Real Estate’s Scottish office.

Director Chris Watt said: “Ewan joins the team with a wealth of industry expertise and will be instrumental in the future development of CSQ.”