Mondelez International, the product makers of popular chocolate bar Toblerone has revealed that it will be spacing out its distinguishing triangular chocolate chunks due to an increase in the price of ingredients. The company will be changing the design to reduce the weight of its 400g and 170g bars, which has...
Supermarket Sainsbury’s has seen 10% fall in profits as first half sales were hit by pricing pressures. In the last quarter, the supermarket saw like-for-like sales fall 1% although underlying profits rose 2.1%. Commenting on the Interim Results 2016, Mike Coupe, chief executive, said: "Two years ago we set out our...
ABF-owned Primark could benefit from a post-Brexit future despite “some short-term uncertainties including a decline in the value of sterling”. In the year to September 17th, the fast fashion retailer saw a 2% fall in like-for-like sales in the UK, its first decline for 16 years. In a statement, chief executive of...
American Apparel has filed for bankruptcy, endangering its 13 UK stores and European operations as the parent US business seeks a buyer. Jim Tucker and Richard Beard of KPMG have been appointed to wind down the UK operations, although they will trade as usual in the lead up to the Christmas...
UK consumers increased spending by 1.7% on a like-for-like basis last month, bringing total sales to their highest growth since January. The figures were boosted by online sales of 11% as well as high consumer confidence. Helen Dickenson, OBE, chief executive of the British Retail Consortium, said: “October’s figures paint a...
M&S has confirmed that it is to close around 30 loss making clothing and home stores as well as overhauling further 45 in order to concentrate on its more profitable Simply Food division. The moves include opening stores in currently underserved areas. The news comes after the company reported a near...
Members of the Business and Skills Committee have accused Sports Direct of attempting to record their private discussions during a surprise visit to inspect the company’s Shirebrook warehouse. The visit was intended to be a ‘spot check’ to examine working practices at the site, after the company was accused of ‘Victorian’...
It has been announced that supermarket giant Sainsbury’s has hired Kevin O’Byrne as its new chief financial officer, replacing John Rogers, who has moved to Sainsbury’s Argos as chief executive. Mr O’Byrne, who is currently chief executive at Poundland, will be joining the company on the 9th January and will be...
The former boss at Dobbies Garden Centres, Andy King has taken up the post of chief executive of Evans Cycles as the bicycle retailer reports unsettled times with its profits falling 70% last year. Mr King has taken over from Nick Wilkinson who left the company after it was sold to...
Paperchase, the stationery retailer has revealed that it will be opening its first two standalone stores in Chicago in 2017. The news was announced after the company reported sales had risen 12% in the UK and opened 23 stores this year, nine of which were outside the UK. Currently Paperchase sell its...
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