Smartphone group Blackberry has reported a net annual loss of $5.9 billion (£3.5 billion), despite an improvement in its final quarter.In the three months to March 1st the company saw a loss of $423 million which was below expectations, compared to a loss of $4.4bn in the previous quarter.Chief executive...
Online fashion retailer boohoo.com has said that it has met expectations for its financial year, with an impressive 200% rise in EBITDA (earnings before interest, taxes, depreciation, and amortization).Net revenues rose over 62%, making the company a firm favourite with the stock market despite only listing as a public company...
High end fashion label Nichol Farhi has appointed former head of Lulu Guiness Martin Mason as CEO from April 1st following a troubled year in which the brand went into administration before being saved by Maxine Hargreaves-Adams, owner of womenswear label Fenn Wright Manson.Mr Mason previously held board positions at...
Data from the Office for National Statistics has shown that February’s retail sales bounced back from a January slump, beating analysts’ expectations. On Tuesday a report from the Confederation of British Industry said that retail sales grew at their slowest pace since November.The ONS said that sales rose 1.7%, beating...
Labour leader Ed Miliband has said that his party will protect smaller companies against "unacceptable treatment" by energy firms should they be voted into power.In a speech, Mr Miliband will say that a Labour government would stop small companies being exploited by being “rolled” onto higher tariffs and being lumbered...
US retailer Wal-Mart is suing Visa over allegations that the credit card company worked with banks to fix the price of transaction fees.The world’s largest retailer opted out of a $5.7bn class action settlement with Visa and Mastercard in December.Wal-Mart, Amazon.com Inc, and Target Corp were among the companies opting...
The Qatar Investment Authority is rumoured to be preparing another takeover attempt for the Sainsbury’s group following its abandoned attempt to acquire the company in 2007.Shares of the British supermarket are at a low ebb following the news that budget retailers are continuing to gain market share at the expense...
Supermarket group Asda has moved to reshuffle its executive team, with the company’s brand director and property/multichannel leaving the business.The restructuring, aimed at streamlining the board-level team, will see Karen Hubbard, Asda's executive director for property and multichannel, leave the business at the end of the month. Brand director Adrian...
A new retail complex in Exeter will create up to 400 jobs when it is anticipated to open next year, according to reports.The complex, which will be based at Sowton will be known as the Moor Exchange and will include shops, cafes and restaurants as well as a crèche, banking...
The Confederation of British Industry's distributive trades survey has shown that retail sales in the UK for March slowed by more than expected. However, sales for April are anticipated to be at the highest since December 2010.The report said that March’s sales balance fell to +13, its lowest since November,...
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