The chief executive of Tesco, Dave Lewis, was paid £4.6 million last year, including a £3 million bonus for taking the retailer back to profit. In the year to February 27th, the retailer posted pre-tax profit of £162 million, a significant improvement on a loss of £6.4 billion the previous...
High street value fashion retailer PEP&Co has brought forward its Christmas recruitment plans, which include creating over 100 temporary jobs in stores, beginning this week. The chain, which launched last year, recently appeared in the TV series Bargain Shop Wars, which saw an increase in footfall to its stores and traffic...
Bakery chain Greggs has re-launched its mobile payment app with a simplified registration process and a loyalty scheme that customers can begin using straight away without having to upload funds. The app allows customers to pay for goods through PayPal, Apple Pay, by preloading money onto their account or with cash...
The new chief executive of M&S, Steve Rowe, has announced changes to the top level management of the company, halving the number of directors involved in decision making at strategic level barely a month into his tenure. Those leaving include head of kidswear and home director, Stephanie Chen; store environment and...
UK independent Steamer Trading Cookshop has announced its obtaining total shares of Kitchens Catering Utensils Ltd and its three stores located in Cardiff, Bath and Bristol will join the Steamer Trading estate as well as its online ecommerce platform. The staff at Kitchens’ will stay put and join Steamer Trading’s payroll,...
Sportswear brand Adidas has ended its sponsorship of Chelsea football club six years early. The German firm, which has sponsored Chelsea since 2006, will end its partnership with Chelsea on 30th June 2017. As a result, Chelsea will have to pay the company tens of millions of Euros in compensation,...
Fashion retailer SuperGroup, owner of Superdry, has revealed its full year revenue increased 21.1% to £589.5million. In its fourth quarter to 23rd April figures show that the retail division grew 24.5% with like-for-like sales increasing 11.3%, with pre-tax profit for the year to be between £72.5million - £74million. Other figures show that...
It has been reported that Gear4Music, the online musical instrument retailer’s sales rose 46% in the year to 29 February. Figures show that revenue in the UK increased 39% to £26million and revenue in Europe grew 73% to £9.5million, whilst pre-tax profit was £0.6million in comparison to a £0.6million loss in...
Since going into administration two weeks ago, 88 year old department store BHS has had multiple offers to purchase some or all of the business. Potential buyers for all of the business include Edinburgh Woolen Mill, Sports Direct and Preston-based millionaire property owner Yousuf Bhailok as well as potential buyers for...
Gap shares fell to their lowest level in four years following the announcement that the fashion retailer will miss its first quarter profit expectations. The clothing giant said that quarterly like-for-like sales fell 3% at Gap, 11% at Banana Republic and 6% at Old Navy, due to softer than expected traffic...
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