Shirt-maker Austin Reed has seen losses widen in the wake of a turnaround plan that resulted in the closure of 31 stores. The company is expected to close more loss-making shops in the near future as it trims its store estate to get back into profitability.In the year to January...
Supermarket Sainsbury’s has been contacted by the Financial Reporting Council (FRC), the UK’s accounting watchdog, questioning the company’s reporting of supplier income disclosures.It is understood that approximately one third of companies whose accounts are reviewed by the watchdog are contacted with follow-up questions under new, tougher regulations. This follows the...
It has been revealed that ambulances were called to a Sports Direct complex in Derbyshire dozens of times in the past two years, according to the BBC.Many of the calls involved “life threatening illnesses” according to the report.A total of 76 ambulances or paramedic cars were dispatched to the distribution...
Discount supermarket Lidl has restructured its senior management in the UK.Former Lidl UK director Martin Kottbauer, who has been with the company since 1998, has taken up the position of International Purchasing Director at Lidl’s headquarters in Germany. Meanwhile chief operating officer of Lidl Ireland, Martin Bailie has moved to the UK to...
Shoppers in England will have to pay 5p per plastic carrier bag from today, in an attempt to cut the number of bags send to landfill every year and save £60 million in litter clean up costs alone.England is the last part of the UK to introduce a charge for...
Clothing retailer American Apparel has filed for US bankruptcy protection, reaching agreements with 95% of its lenders.The firm, which has seen falling sales of late, recorded a loss of $19.4m (£12.8m) in the second quarter and has announced a restructuring agreement that is designed to cut its debt.American Apparel chief...
Costa Coffee is the latest retailer to increase wages for their staff following Chancellor George Osborne’s announcement of the new National Living Wage in July.The multinational coffeehouse company announced on Wednesday that their 12,500 baristas would earn a minimum of £7.40 an hour and £8.20 in London, around 20p above...
Department store John Lewis saw its sales increase 6.9% year-on-year last week.Figures show, that regardless of the warm weather, fashion sales increased 5.9% due to promotional activity and its new autumn/winter collection. Other figures show that own-brand items increased by 16%, cashmere by 46%, cold weather accessories by 23% and...
Loaf, the online furniture company that launched in 2008 has announced today (October 2) that it opened their first ever store in London’s Battersea.The new store which covers 8,000 sq ft of space, is offering a range of products such as tableware, cashmere blankets, organic candles, bath products and Derbyshire-made...
The government has announced that national minimum wage will increase by 20p an hour to £6.70 from October.The changes will benefit more than 1.4 million workers.The hourly rate for younger workers will also rise and apprentices salary will go up by 20% - or 57p to £3.30 an hour.The rates...
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