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Retail
Halfords warns budget concerns make the near-term outlook “uncertain”
Halfords Group warns that consumers are delaying purchases of expensive items due to the uncertainty surrounding the economy, and the upcoming tax changes in next week's budget.
Like-for-like, the retailer and repair shop that sells…
General Motors increases profit guidance due to “resilient” consumers
General Motors' shares have soared after the automaker raised its profit forecast for the full year. This is due to the strong demand for SUVs and trucks.
Due to rising prices and consumer spending, the largest American carmaker by sales…
Report finds that serial returners in the UK send back online purchases worth £6.6bn a year.
A UK report found that shoppers who return goods purchased online will send back £1,400 worth of items each in this year. This totals £6,6 billion.
According to a report from ZigZag, a return logistics company, and Retail Economics, a…
Unilever’s sales are set to increase as the turnaround plan shows results
Unilever's third-quarter sales are expected to grow as it implements a turnaround strategy under the new CEO.
According to estimates, the maker of Marmite and Dove is expected to achieve a underlying growth of 4.2% in the last three…
N Brown takes Aim private, ending the market’s woes
After receiving a £191-million takeover bid from a member of Alliance's controlling family, the owner of Simply Be & Jacamo joins the list of UK struggling stocks that have been delisted from London's Aim junior market.
The shares of…
In the third quarter, Deliveroo sales increased by 6% to £1.8bn.
Deliveroo’s platform saw a 6 percent increase in transactions to £1.8 billion and a 2 percent rise in total orders during the third quarter.
The UK and Ireland customers increased their spending on the app 7 percent, but international…
Nestle reduces sales targets following backlash over price increases
Nestle counts the costs of pushing the prices of its bestselling brands out of reach of increasingly squeezed consumers. KitKat and Nescafe are among the 31 "mega brands" of the world's biggest foodmaker. Purina, the pet food brand, is also…
Boots parent company will close 1,200 stores
Boots, the parent company of Boots high-street pharmacy, will close 1,200 stores in America in the next three year as it struggles with a decline in consumer spending rates and low reimbursement rates for drugs.
Walgreens Boots Alliance,…
Mike Ashley’s bid for Mulberry creates rift with Mulberry’s main shareholder
Mulberry has seen tensions escalate as the two largest shareholders of the British luxury brand clash over its future ownership. The board of Mulberry said Monday it would be open to an improved bid from Frasers despite Challice's attempts…
Frasers Group’s Mike Ashley rejects Mulberry’s owner’s bid of £111 million pounds…
The Mulberry owner has refused to sell its shares after Mike Ashley's Frasers Group increased their bid of £111m.
Challice is a group controlled and owned by Singaporean entrepreneur Christina Ong with her husband Ong Beng Seng. They own…
Selfridges property portfolio reduced by more than £600m
Selfridges property portfolio's value was reduced by over half a billion pounds in the last year. This highlights the challenges that the department store group faces as it changes ownership for the second time within three years.…
Shein doubles profit in Britain with sales of £1.55bn
Shein, a Chinese-founded fast-fashion online retailer, doubled its profit in Britain, and overtook Boohoo, before a planned blockbuster London float.
According to new accounts filed at Companies House, Shein UK's pre-tax profit rose from…
Barclay family is on the verge of losing their control over Very Group
Very Group's ownership by the Barclay family is being reviewed as their corporate empire continues its decline following a £1.2billion debt deal with a Joint Venture backed by funds from the United Arab Emirates.
Barclays JP Morgan,…
Richemont sells Net-aporter to rival
Richemont struck a deal with its German competitor Mytheresa to sell Yoox Net-a-Porter to them after an earlier sale agreement failed.
The Swiss luxury conglomerate that owns Cartier, as well as other high-end fashion and jewellery…
The Mulberry crisis and the tycoons’ battle over its future
Mike Ashley's retirement from the board at his retail empire Frasers Group was never expected. After all, the man had spent 40 years torturing his rivals on the high street. It was true.
Frasers chairman David Daly sent a request to…
Tesco increases profit forecast following shoppers’ spending spree
Tesco's boss claimed that consumers were "in good shape" and began to buy more expensive products before Christmas. This led the country's largest grocery store to raise its profit forecast.
Ken Murphy was upbeat about the consumer's…
JD Sports assures investors of full-year targets
JD Sports boss has dismissed the issues facing Nike, the company's biggest supplier. He credited its store range for compensating weaknesses in individual brands.
Regis Schultz said that the retailer is on track to reach its profit…
Dobbies Garden Centres will close 17 stores in a restructuring plan
Dobbies plans to close 17 of its 77 shops, which will affect 465 jobs. The new owners are trying to bring the garden centre group back to profitability. The company that employs 3,600 people said they were seeking approval from creditors…