Asda has said that it will overhaul its price promotion strategy after being criticised by the competition regulator. The Competition and Markets Authority (CMA) has asked a number of supermarkets to review their promotions and agreed specific changes with Asda. After a ‘super-complaint’ from consumer group Which? in 2015, the CMA has...
Apple has reported a drop in revenue for the first time in 16 years as iPhone sales fell for the first time in the product’s history. The company saw sales drop 13% in the three months to the end of March. Chief executive Tim Cook partially blamed “strong macroeconomic headwinds” including the...
The Chinese company which owns House of Fraser is reportedly in talks to sell a stake in the business to Hong Kong-listed shoe retailer C. Banner which owns Hamleys. In a statement on the Hong Kong stock exchange, House of Fraser’s Sanpower said that it was exploring a "cooperation arrangement" which...
Questions are being asked about the sale of BHS by Philip Green to Retail Acquisitions last year, after the retailer collapsed yesterday. Thousands of employees are facing job losses and pension cuts, whilst attention turns on former owner Sir Philip Green who sold the company to a consortium of businessmen for...
Carpet and floor covering retailer Carpetright has said that profits are on track for the year, after international sales increased and its UK business continued to perform well against strong comparatives. In a statement covering the 12 weeks ended April 23rd, the company said that UK like-for-like sales were up 0.7%...
The British Retail Consortium has said that the EU is “increasingly important” for UK retailers. Total retail search volumes grew 52% in the first quarter of 2016 compared with the same quarter a year ago, according to the BRC-Google online retail monitor, with searches on mobile devices up 50% on the...
Suit firm Austin Reed filed a notice of intention to appoint administrators on Friday, a move which could come as early as this week. A potential collapse of the British firm could put 1,000 jobs at risk. Accountants Alix Partners are understood to be looking at options for the 116-year-old company. However,...
Struggling department store BHS is expected to file for administration around lunchtime today, with the loss of 11,000 jobs. Boss Dominic Chappell wrote to employees on Sunday warning that the firm was in danger, saying: “It is with a deep heart that I have to report, despite a massive effort from...
Fashion brand Gap has announced that its franchising boss, Stefan Laban is leaving the company as Gap prepares to move its operations to the US. Mr Laban joined the company six years ago and become the head of all brands after four years. Whilst he was in charge, the company expanded...
Pets at Home have revealed that its full year revenue grew 8.8% in the 53 weeks to 31st March, which was enhanced by “excellent” performance from the grooming salons and veterinary practices. Figures show that revenue increased to nearly £800 million from £729.1 million the year before and like-for-like sales grew...
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