Electricals specialist Maplin has said that a combination of Black Friday and Christmas boosted like-for-like sales by 2.3%, with CCTV equipment and drones proving popular with consumers. Over Black Friday, the chain reduced some prices by over 70% and increased stock levels by 200% on its most popular ranges. Although this...
Swatch has partnered with China’s Bank of Communications, China UnionPay network and Visa in order to launch its first contactless payment system encased in a watch. The Bellamy, which will compete with the likes of Apple, Samsung Pay and Android Pay, has potential to be used in markets with less access...
Fashion chain Next has said it has identified a “procedural oversight” with regards to its dividend payments. Next said that it had failed to file accounts ahead of payouts in 2014 and 2015 in contradiction of the UK Companies Act, which requires companies to demonstrate that they have sufficient reserves for...
Paul Polman, chief executive of Unilever, has said that global goods giant Unilever suffered a “challenging” 2015, seeing profits fall 5% and said that 2016 would be a year of “high volatility”. Emerging markets, where Unilever makes 58% of its sales, grew 7.1%, although there was little, if any, growth in...
Data from the British Retail Consortium and Springboard has revealed that footfall in the UK was down in 2.2% in December, marginally lower than the 2.1% decline in November and underperforming the three-month average rate of -1.6%. Footfall in retail park locations increased 2.1% year-on-year. This is slightly above November's 2.0%...
Small businesses have accused healthcare retailer Holland & Barrett of squeezing suppliers by demanding they contribute to the retailer’s expansion plans. In a letter sent earlier this month, the retailer said that it was asking for a decrease of at least 5% in supplier costs to contribute to its recovery following...
Adidas’ shares have risen more than 5% after the German sportswear firm named its new chief executive. Kaspar Rorsted, who Adidas called the "perfect candidate", will take over on October 1st. Mr Rorsted is currently the boss of Henkel, whose brands include Persil detergent and Schwarzkopf shampoo. He replaces Herbert Hainer, who...
Britain’s third largest supermarket chain, Asda, will be cutting hundreds of jobs due to fierce competition from discount rivals in the increasingly challenging grocery sector. Asda is owned by the world’s biggest retailer Wal-mart, which announced its first ever bulk store closure last week. Sky News has reported that Asda will...
Home Retail Group has accepted an offer from Australian group Wesfarmers to buy the Homebase chain for £340 million. In a statement, John Coombe, chairman of Home Retail Group, said: "We are very pleased to have reached agreement with Wesfarmers regarding the sale of Homebase. We believe that this is the...
Waitrose has said that it will speed up payments to smaller suppliers after it was reported to be taking three times longer than Tesco to pay its bills. The supermarket has appointed its director of commercial operations Matthew Frost to lead a review into supplier terms. One supplier, who wished to remain...
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