Browsing Category
Retail
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…
Wall Street boss Mike Ashley is dragged in court over his trades
Morgan Stanley's chief executive has been drawn into a legal dispute between Mike Ashley Frasers Group and Morgan Stanley over a $1bn margin call (£810m).
Frasers Group, the company owned by Mr Ashley, has requested that a US court…
Poundland to take over 71 Wilko stores as chain winds down
Poundland, the owner of the value retailer Poundland, has agreed to lease 71 Wilko shops as part of the closure of the chain.
Pepco's parent company said that the locations were in desirable areas and would be converted into Poundland…
PwC confirms Wilko will close the remaining 300 Wilko stores
Wilko, the collapsed discount retailer, will be gone from the high streets by early October. A rescue deal for the chain's largest chunk fell through and led to the potential of 12,500 job losses.
PwC administrators confirmed that about…
Why John Lewis is having a problem with Waitrose
Grocer's deteriorating performance risks undermining the Partnership's turnaround plan
When Waitrose workers opened an email from retail director Tina Mitchell last week, few were surprised to find it was about cost cutting.…
Waitrose encourages workers to accept flexible working hours
Waitrose shop staff could lose their jobs if the supermarket chain does not allow them to work flexible hours. The supermarket wants to increase productivity and reduce costs.
John Lewis Partnership's upmarket grocer has lost market…
Lidl opens £300m Super Warehouse in Fight against UK’s Biggest Grocers
German discounter claims new site as proof of ambitions for expansion across Britain
Lidl opened the largest warehouse in history as it intensifies its battle against Britain's leading grocers.
The German discounter claimed…
Wilko’s break-up starts with 1,300 new job losses
Wilko administrators began to dismantle the discount retailer in a fragmented process. More than 1,300 jobs were lost and 51 stores were sold separately on Tuesday.
PwC administrators announced that 52 stores would close next week. This…
M&S brings UK High Court case over blocked rebuilding of London flagship
Marks and Spencer launched a legal challenge at the High Court last month against Michael Gove’s decision to prevent the UK retailer from rebuilding their Art Deco flagship store in London’s Marble Arch.
M&S claimed that the…
Marks and Spencer returns to FTSE 100 index after 4-year absence
Marks and Spencer has returned to the FTSE 100, four years after dropping out. This is the latest indication of how the fortunes of this UK retailer are changing.
Index compiler FTSE Russell confirmed this move on Wednesday afternoon,…
PwC criticises Wilko bidder, M2,
An AngloCanadian bidder who was interested in buying the collapsed Wilko retailer has questioned whether the administrators PwC's process was fair and transparent, as the pressure to settle the future of the discount chain grows.
M2…
Brazil’s Natura considers Body Shop sale
Brazilian cosmetics group Natura has said that it is examining the possibility of selling The Body Shop after failing to improve the fortunes of UK retailer.
The beauty conglomerate announced on Monday that it is exploring "strategic…