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Retail
Asos will take the ‘necessary action’ following a 18% decline in sales
Asos said it would take "necessary action" to turn around its fortunes, after the fast-fashion retailer's losses in the first half widened. Sales also fell by almost a fifth.
In the six-month period ending 3 March, sales were down 18% on…
Bloom & Wild is suffering as the consumer’s confidence dwindles.
The group behind Bloom & Wild saw its losses increase to over £100 million in the latest financial year, as consumers reduced their flower purchases due to a lack of cash.
Online florist known for its bouquets that can fit through a…
Uniqlo’s £15 banana bag, which went viral among Gen Z, drives sales up after it goes viral
Uniqlo has seen a surge in sales after a "banana bag" that became viral on TikTok.
Newly filed accounts show that sales for the Japanese Fashion Retailer's UK and European businesses increased by 36pc, to more than €1.3bn. (£1.1bn), in…
Tesco employees to receive a ‘thank you bonus’ after the grocer’s profits soar
Tesco will give a "thank-you" bonus to more than 220,000 workers after the profits of the supermarket rose by nearly 160 percent last year.
The largest private employer in Britain announced that it will give out around £70 million, or…
Asda is forced to disclose unaudited financial results after delayed sign-off
Asda was forced to release draft results to investors after the auditor failed to sign company accounts.
Asda's managers made the unusual choice to give a private presentation to lenders at the end of last month. Asda announced unaudited…
Stonegate owner of Slug & Lettuce scrambles in a panic to plug a £2bn hole
Slug & Lettuce's owner has expressed concerns about the future of his company as he races to refinance over £2bn worth of debt.
Stonegate, UK's largest pub operator, with over 4,000 locations across the UK, has warned that "material…
Rain is bad news for Dune retailers, but consumers flock to the cinema instead
The wet weather dampened the enthusiasm of shoppers, and the increase in non-essential spending such as clothing was only 1.6%. This is the lowest rise since September 2012.
Barclays data shows that in-store retail sales, excluding…
Next, Frasers Group is looking at the stricken Ted Baker
Two of the biggest retail groups in Europe have expressed interest in buying Ted Baker's European retail business.
Frasers Group led by Mike Ashley and Next led by Lord Wolfson, Aspley Guise have contacted administrators of Teneo…
Tesco is at the top of food chain, but its rivals are getting hungry
Tesco, the UK's largest supermarket and responsible for more than 25% of all food purchases in our country, will unveil its annual financial report on Thursday, shedding light on a market that is rapidly changing.
Tesco's sales are…
Retail insolvencies increase 19% as businesses feel squeeze
Retail insolvencies have risen sharply as businesses are feeling the effects of rising interest rates, higher costs and cautious spending by consumers.
According to Mazars the audit, tax, and advisory firm, 2,195 retail outlets collapsed…
Retailers suffer longest dip in sales since Covid pandemic
A survey shows that retail sales have fallen for the past six months and then again in March. This is the longest run of declines outside the Covid-19 pandemic.
The survey conducted by BDO, an independent consultancy, revealed that total…
Domino’s vows to reduce the calories in its food following creme egg cookie backlash
Domino's has pledged to reduce the calories in its products, just weeks after an ex-health minister criticized the fast food chain over selling Creme Egg cookies.
Pizza chain with more than 1,300 outlets in the UK has announced plans to…
Amazon eliminates the ‘just walk-out’ checkouts in grocery stores
Amazon has scrapped its "just walk-out" technology after trying for years to get traction with its checkout-free offering.
The decision was made on Tuesday to abandon the technology in grocery stores, but the change will not be…
Why Ocado could become a tech giant if it is listed in New York
If the grocery store can break free from its UK roots, a lucrative future awaits.
Tim Steiner, Ocado's chief executive officer, praised the £750m partnership with Marks & Spencer as a win-win for both parties.
He said that M&S…
Morrisons’ losses mount amid debt finance pressures
Morrisons reported widening losses for the first quarter, after being weighed down with debt financing costs related to its private equity acquisition.
The supermarket chain reported pre-tax losses in the amount of £156m for the 13 weeks…
Kingfisher owner B&Q is impacted by sluggish French sales
Kingfisher's hopes of a recovery have once again been dashed after the DIY retailer saw its profits fall due to sluggish sales in France.
B&Q, Screwfix and B&Q's owner said it would examine the future of Castorama after its…
Waitrose prepares to close its warehouse, putting hundreds of jobs in danger
Waitrose puts hundreds of jobs in danger as it prepares to close a warehouse that was opened only four years ago.
The supermarket has announced that it will close its Enfield warehouse this summer, which could result in the loss of more…
Hermes refuses to sell Birkin bags to shoppers
Hermes is in a legal fight with two American customers who sued the French designer for refusing to sell them Birkin bags.
Hermes has been accused by two Californians of selling Birkin bags only to those customers who are deemed…