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Retail
CBI warns UK retailers to prepare for disappointing Christmas sales
The CBI's Distributive Trades Survey found that British retailers are bracing themselves for a disappointing holiday after they registered a decline in sales of 7.4% year-on-year in November.
In the year up to November, sales volumes…
How Wall Street forced Netflix to raise streaming prices
Slow subscriber growth and high rates of interest push the sector into a new era frugality
Netflix's price increases are not always a good thing. Reed Hastings, the founder of Netflix, increased the price of a monthly…
Asda repays £300m while Issa brothers race for a reduction in borrowing
Asda paid off £300m in debts, as its billionaire owners raced to reduce borrowing levels throughout their business empire.
The supermarket has cleared a £200m debt it took on to purchase 132 convenience stores from The Co-op in the…
Avon opens first shop amid declining number of stay-at home mothers
Beauty giant forced into rethinking sales strategy as more women work
One of the most memorable slogans in advertising of the 21st Century was about this. Soon, the days of Avon's "ding dong" could be over.
For the first…
Next increases profit guidance for the fourth time in five months
Next has increased its full-year profit guidance for the fourth time in five months despite unusually warm weather hitting demand for its autumn range.
The fashion and homewares retailer now expects annual pre-tax profits to be £10…
Fortnum & Mason plans major US expansion in response to growing demand for British teas and…
Fortnum & Mason plans to expand into the US due to growing demand for British classics like tea and jam.
Tom Athron said that Fortnum & Mason would be opening a warehouse in America so they could start selling their products…
ScS accepts a takeover of Italian rival for £100m
ScS will be taken private following a recommendation to the shareholders of a deal which values the British sofa retailer for almost £100million.
Cerezzola is a fully owned subsidiary of Poltronesofa an Italian furniture retailer. It has…
Boots is the latest foreign takeover to fail of a British retailer
Boots reduces investment. It will close stores. It may have to face another complex corporate restructuring.
Boots should have a great decade, as the NHS is in a constant state of crisis. People are taking more responsibility for…
Boots owner to cut $1bn in costs despite UK sales increase
The owner of Boots is carving $1bn (£820m) of costs out of its business after a sales boost in the British pharmacy chain failed to buoy earnings as much as Wall Street expected.
Walgreens Boots Alliance unveiled plans to lower its…
Pepsi is’studying closely the impact’ of weight loss injections on sales
Walmart, the US-based giant, claimed that users of weight loss drugs were buying less food. Pepsi's and Walkers Crisps are "studying" their effects on sales.
Hugh Johnston, chief financial officer at PepsiCo, said that it was still…
Selfridges reports a £40m loss in spite of sales growth as finance costs weigh
Selfridges, despite an increase in sales and a rise in interest costs on debts, lost nearly £40m in the last year.
The main retail sales of the luxury department store rose by almost 30% to £843m in 2012, approaching their pre-pandemic…
LVMH’s growth is impacted by lower sales of handbags and spirits
LVMH's sales growth slowed down in the third-quarter as handbag demand moderated, and spirits declined after years of explosive growth.
The French group controlled by Bernard Arnault said that sales increased 9 percent in the third…
Boohoo’s profits fall as consumers reduce their spending
Boohoo, a fast-fashion retailer, has cut its sales and profit estimates for the year as consumers reduce their purchases.
The UK company announced on Tuesday that they expected revenue to drop between 12 and 17 percent in the year to the…
Boohoo’s profits fall as consumers reduce their spending
Boohoo, a fast-fashion retailer, has cut its sales and profit estimates for the year as consumers reduce their purchases.
The UK company announced on Tuesday that they expected revenue to drop between 12 and 17 percent in the year to the…
UK retailers demand protection against shoplifting surge
Major UK retailers, including Burberry and John Lewis and Marks and Spencer, have called for the Home Secretary's urgent action in order to stop a nationwide increase in shoplifting and abuses of staff.
Retail leaders from some of the…
John Lewis will seek to sell 12 Waitrose stores for 150 million pounds sterling
John Lewis Partnership Plc plans to raise up to £150 million ($183million) through the sale and leaseback a dozen Waitrose stores, as the struggling retailer looks to raise more capital.
A person who asked not to be named because the…
FTC: Amazon uses its monopoly to harm consumers, competitors and sellers
Amazon has been sued by the US Federal Trade Commission, 17 states, and other entities. They claim that Amazon illegally abuses its monopoly to exploit consumers, impede competitors, and overcharge them.
The landmark lawsuit filed on…
The Sunshine and Higher Wages Help Next to 5% Rise in Profits
Next raised its profit forecasts in the fourth month after wage increases linked to inflation and the warm weather that began the summer encouraged shoppers.
The group's total sales, which are based on about 500 stores and are considered…