Supermarket Sainsbury’s has revealed that it launched a £1 billion bid for Home Retail Group-owned Argos in November. Although the proposal was rejected, Sainsbury’s has until February 2nd to make a formal offer. The two companies have grown closer in the last year, with trials of Argos concessions in Sainsbury’s stores. Sainsbury’s commented:...
Fashion chain Jigsaw has announced a 19% rise in sales over the festive period. The fashion clothing retailer reported a 12% lift in like-for-like sales in the five weeks to January 2nd, with the demand for faux-fur trimmed coats and cashmere pyjamas taking total sales to £14.2 million over the period. Chief...
Fashion retailer Next has reported that it is disappointed with its sales over the Christmas period and has blamed the warm weather and stock shortages. Figures show that sales dropped 0.5% in the 60 days before Christmas, despite its Directory business seeing a 2% rise in revenue, bringing the company’s total...
It has been reported that supermarket chain Aldi is planning on opening 80 new stores in 2016 which is in line with its £600million investment plan. With a rise of 23% on last year, when Aldi opened around 65 stores, this year will bring the supermarket’s total UK store count to...
Mike Ashley’s Sports Direct has made an announcement clarifying the role of his daughter’s boyfriend who was recently appointed to lead the company’s property division. The company has said that Mr Murray is not paid a salary and denied that he is a director of Sports Direct or any of its...
A study by Investors in People has shown that 46% of retail employees are looking to move jobs in 2016 as the economy improves, with one in seven already actively job hunting. The findings are highlighted in a new report “Job Exodus Trends 2016” which shows that over a third (36%)...
It has been reported that sales on the high street dropped 3% year-on-year last week as shoppers preferred to visit retail parks and shopping centres. Figures also revealed however, that retail parks saw a 3.6% increase and shopping centres enjoyed a 1.8% rise over the same period. Despite a 5.1% year-on-year rise...
It has been reported that department store Debenhams is in talks with the former chief executive of Kingfisher, Sir Ian Cheshire to become its next chairman. Nothing has been confirmed yet, however if all goes well Sir Ian Cheshire will take over from the current chairman Nigel Northridge who has held the positon...
American Apparel has acted in “an abundance of caution” as it attempts to steer itself through bankruptcy. On Monday American Apparel asked in court documents for a 90-day extension to its exclusive period for filing a reorganisation plan following former CEO and founder Dov Charney’s claim that he might make an...
Morrisons has announced that it will donate £100,000 to those suffering from the effects of flooding in northern Britain. The supermarket chain will extend its support to flood appeals in Yorkshire, Cumbria, Lancashire, Greater Manchester and Scotland. Morrisons’ monetary aid will be put towards clean-up costs, repairs and emergency supplies of clothing,...
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