Mothercare has explained that it is finishing off a rescue deal with its creditors after many years of falling sales and profits. Their restructure is likely to take a company voluntary arrangement (CVA), which usually sees a retailer closing many stores and renegotiating rents to prevent it from going into administration. Stephen Springham...
Morrisons has stated that they have had a major jump in profits for its most recent financial year report, which has been helped by a strong performance across its stores. The retailer explained that its pre-tax profits have risen by 16.9 per cent in the year to 4 February to £380m....
Will we be seeing more collaborations with big names in the future? The answer is most likely yes we will. In the corporate world two of the UK’s largest supermarkets Sainsbury’s and Asda have announced a £7.3bn merger, that’s big news. Their revenues are going upwards of £51bn, their staff 330,000 and their stores growing up to 2,800....
John Lewis has denied reports that Amazon approached them last year to take over their supermarket chain Waitrose. According to the Sunday Times, a senior executive from Amazon pushed for a formal meeting but was turned down by JLP's board. Sir Charlie Mayfield, chairman of JLP, denied there had been an approach....
The Weston Family have claimed the top spot in the retail category of this year's Sunday Times Rich List. Known as Ireland’s richest family, The Westons have a net worth of £10.5bn thanks to their portfolio, which includes many different stores such as London department store Fortnum & Mason, Ireland’s biggest...
Yoox Net-A-Porter has a new global chief operating officer by the name of Olivier Schaeffer. He is due to start with the company on 21 May, he will be responsible for Yoox Net-A-Porter’s worldwide operations and technology activities and will report directly to Federico Marchetti, the group’s chief executive. Schaeffer has been working with...
Burberry is currently in an agreement to acquire a luxury leather goods business from its longstanding Italian partner CF&P. The company is situated in the leather district of Scandicci. Its described as a high-end handbag manufacturer that has been working with Burberry for more than a decade and according to its website...
Smiggle brought in some amazing sales and profits in its UK operations last year, thanks to an ambitious expansion scheme and soaring online sales. There were accounts filed at Companies House that shows Smiggle recorded a 92 per cent increase in revenues to £55.7 million in the year to July 2017. Also,...
UK consumers are spending over £2 billion every year on delivery subscription services, according to a new study. The research conducted by delivery management company Whistl found that the most popular subscription service was Amazon Prime, with 61.4% of those who took part in the survey saying they had signed up...
Next has reported that its first quarter full price sales were better than expected and around £40 million ahead of its internal forecast after trade was boosted by the unusually warm weather in recent weeks. As a result, the fashion and homewares retailer has upgraded its full year profit forecast. Next’s online full price...
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