The new chief executive of Tesco is to start today after the company altered its financial expectations from £2.4 billion from £2.8 billion, its third profit warning of 2014.The new boss, Dave Lewis, was rushed in a month ahead of schedule to start immediately on a new turnaround plan for...
Malaysia Airlines is to cut 6,000 jobs as part of a recovery plan after the loss of two aircraft in high-profile disasters. The cuts represent around 30% of its entire workforce.The airline is to come under state ownership under the plan, which is expected to cost the equivalent of £1.1...
John Lewis saw an excellent week of trading last week as its sales rose by 12.6% year-on-year.Fashion witnessed the best growth with sales rising by 14.3% on last year. Trade was driven by a strong performance in womenswear and sales of childrenswear were also strong, rising by 16.7%, while menswear...
TK Maxx has announced it is to open 18 new stores nationwide by the end of January 2015.The designer discount retailer is also planning to launch a new store at the Westfield Stratford City shopping centre in London in September.TK Maxx’s parent company, The TJX Companies, recently revealed that it’s...
Tesco will be donating the profits from its increase in ice sales due to the ice bucket challenges to the Motor Neurone Disease Association.The donation, which currently stands at £20,000, is expected to increase after further ice sales over the weekend.Tesco saw its sales of over 36 million individual ice...
Growth in supermarket sales hit its lowest point in a decade in the last year, according to new figures.Research firm Kantar Worldpanel said that Supermarket grocery sales grew by 0.8% in the 12 weeks to the end of August from a year earlier, a record low.Competitors at both ends of...
Australian boardwear brand Billabong has unveiled a turnaround plan designed to stem significant losses after 18 months of “corporate turmoil” and a fall in earnings hit the retailer.Although the group’s Asia-Pacific business saw an 8% rise in earnings for 2014 and losses narrowed in Europe, earnings in the Americas fell...
Shares in online fashion retailer ASOS saw a rise yesterday as rumours circulated of a US company preparing a bid for a stake in the business. Financial website This Is Money said there was "vague talk" of a U.S. cash bid of approximately 50 pounds ($83) a share, possibly from...
Household goods chain, BrightHouse is rumoured to be the latest company set to make an appearance on the stock exchange after owner Vision Capital reportedly engaged an investment bank to advise on a potential float.BrightHouse is thought to be looking at expanding by at least 400 outlets from its current...
A retail park in Llandudno has said that the opening of a new TK Maxx branch in a neighbouring shopping centre will “undermine” the position of both the town centre and their own development.In a letter, Parc Llandudno Retail Park said: “The town centre has a mix of independent and...
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