Supermarket giant Sainsbury’s has reported its first full-year loss in a decade, due to ongoing competition from other big supermarkets, discounters and online shopping.Underlying profit before tax was down 14.7% to £681 million, hit by a 1.9% fall in like-for-like sales, with a loss before tax of £72 million compared...
The newest member of the royal family, Princess Charlotte Elizabeth Diana of Cambridge, is expected to generate a £150 million annual boost for the British economy driven by a surge in retail sales.The Princess is already thought to be worth £80 million to the economy mere days after her birth...
Model train maker Hornby has said that it will report its first annual profit in three years, as improvements in its supply chain saw sales growth in the January-to-March period improve "significantly”.In a statement, the company said that sales are expected to grow 13% in the financial year to the...
Customers of online retailer Amazon are now required to spend a minimum of £20 to qualify for the website’s free ‘super saver’ delivery service, double the original spend, in a move widely seen as pushing customers towards its Prime next day delivery subscription service.The site introduced the £10 minimum spend...
The world’s biggest restaurant chain, fast-food giant McDonald’s, has announced a massive restructure of its business aimed at increasing the amount of franchised restaurants worldwide. The moves will include removing management layers to streamline the reporting structure with “hard-edged accountability”.The news came as British chief executive Steve Easterbrook said that...
DKNY is appointing retailer Public School’s Maxwell Osborne and Dao-Yi Chow as their new creative directors. The new appointment is a bid to keep up with shifting consumer tastes and to connect its brand with the younger generation.The announcement follows the New York based fashion retailer’s use of celebrity names...
This week over one hundred retailers gathered at the House of Lords to kick off the drive to find the 2015 Specsavers everywoman in Retail Ambassadors. Sponsored by Salesforce, the evening reception was hosted by Baroness Verma, herself a retail entrepreneur before her call to politics. It offered an opportunity to...
The European Court of Justice has ruled that over 4,000 members of staff made redundant by the closure of Woolworths and Ethel Austin, will not be receiving compensation.This final ruling was made under UK law; it states that employees in stores with less than 20 workers are excluded from any...
Japanese electronic goods firm Sony has said that its operating profit is likely to more than quadruple as sales of gadgets such as camera sensors and cost-cutting measures across the business take effect.Despite the fact that operating profit will be lower than analysts had forecast, the rise will mean that...
The chief executive of Sainsbury’s, Mike Coupe, has been sentenced to two years in jail by an Egyptian court, following accusations of embezzlement relating to a joint venture between the supermarket and a local businessman 14 years ago.Sainsbury’s has refused to accept the ruling, saying that the charges relate to...
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