Off-licence franchise group Conviviality Retail has seen a 46.7% increase in pre-tax profit, boosted by a strong Christmas with growth in the two weeks to January 4th 2.6% above last year.Commenting on the results, Diana Hunter, CEO of Conviviality, said: "I am pleased with our first half year results which...
The European Commission has said that a 2003 a tax deal between Amazon and state authorities in Luxembourg may breach “state aid” rules.Amazon has responded by saying it "has received no special tax treatment from Luxembourg".The investigation came about after the European Commission raised concerns last year that the agreement...
Over 100 food suppliers will be “at risk of collapse” as supermarkets cut prices to keep customers coming in.According to the report, released by insolvency specialists Begbies Traynor, the food retail business has been showing signs of financial difficulty with firms in “significant distress” in the last three months of...
US retail sales recorded a shock fall of 0.9% in December, their largest decline in 11 months. The news led some analysts to express doubt in the strength of the country’s economy as a whole.US Commerce Department said that the dip exceeded the predicted fall of just 0.1%, but many...
JD Sports has said that profits will exceed the top end of market expectations for the full year after reporting strong Christmas sales.In the five weeks to January 3rd, like-for-like sales growth was 12%, which the company called “particularly pleasing” given strong comparatives the previous year. Cumulative like-for-like sales growth...
Smartphone giant Samsung has reported that it has offered to buy out its struggling rival BlackBerry for around $7.5 billion (£4.92 billion) as it saw the firm’s shares rise 30% in US trade.In an email BlackBerry said it was "aware of certain press reports" about an offer from Samsung but...
Low budget airline Ryanair has announced that it plans to stream movies and TV shows to phones and tablets and it may be provided to passengers without any extra cost.Chief technology officer John Hurley said Ryanair might instead profit by adding adverts, paid for by businesses based in the cities...
The chief executive of Home Retail Group, John Walden, has said that he is “pleased” with the performance of the Argos chain, despite moves to reposition the business within an already volatile market impacting sales.In the 18 weeks to August 31st, total sales at Argos increased 0.8%, up 0.1% on...
The business minister Jo Swinson has fined 37 employers for failing to pay employees the minimum wage. As well as fines totalling £51,000, the companies must also pay workers the £177,000 they owe in back pay.Firms include Welcome Break, which blamed a new IT problem and retailer H&M which said...
Fashion chain White Stuff has seen a 17.9% increase in sales for the five weeks to January 3rd, driven by sales of loungewear and homeware, which rose 126% and 122% respectively.White Stuff CEO, Jeremy Seigal, said: “We’re very pleased with our performance over Christmas, especially given the competitive market place...
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