Retail news
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Rising commodity prices hit Gap profits
- Posted:
- 20 May 2011 11:22
Fashion group Gap has issued a disappointing trading update that shows profits hit by higher-than-expected sourcing cost inflation. In the quarter ending April 30th the company reported net income down 23%, with net sales down just 1% and like-for-like sales down 3%. In its trading statement, Gap said: "While the ...read more
Retailers face a decade of poor sales
- Posted:
- 16 May 2011 09:45
People focused on paying off their debts could mean UK retailers face a decade of non-existent or declining growth, especially if they are based outside of London, according to a new report. Ernst & Young's ITEM Club, the economic think-tank that mirrors the Treasury's economic model, made the gloomy prognosis in ...read more
Gap in public/private pay widens
- Posted:
- 09 May 2011 09:40
Workers in the public sector have enjoyed bigger pay rises than those in private firms despite the Government's attempt to restrain pay, a new report claimed today.A study by think-tank Policy Exchange said the gap between public and private sector pay was still rising, with many workers in companies seeing ...read more
Youth unemployment nears one million mark
- Posted:
- 13 April 2011 09:58
Campaign groups fear that youth unemployment will reach a record high today and edge nearer the politically-sensitive one million mark when new jobless figures are revealed.The TUC said the UK was set to pass another "grim milestone" because of the increasing numbers of 16 to 24-year-olds out of work.The total ...read more
Gap reports slower March sales
- Posted:
- 11 April 2011 10:20
Gap Inc has reported that March 2011 net sales decreased 8% compared with last year as shoppers reined in their spending.Net sales for the five-week period ended April 2nd 2011 were $1.33 billion compared with net sales of $1.45 billion for the five-week period ended April 3rd 2010. Comparable sales ...read more
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