Disappointing sales of its Wii U console have led games company Nintendo to temporarily cut the pay of its top executives. President Satoru Iwata will be taking a 50% cut, and other executives will see reductions of between 20% and 30% until at least June.The move comes after the company...
Prosecutors have dropped a case against three men who were accused of stealing from bins outside an Iceland store in north London. The men had denied the charges of stealing tomatoes, mushrooms, cheese and Mr Kipling cakes from bins at the back of the supermarket.Iceland issued a clarifying statement to...
With the news this morning that the CEO of Sainsbury's, Justin King, is to step down after 10 years with the business, we take a look back on the career of a retail legend in an extended news feature.Best before end?Having grown into the largest grocery retailer in the UK...
Sainsbury's has announced that its chief executive Justin King will be stepping down after 10 years.Responsible for the 'Making Sainsbury's Great Again' initiative, Mr King was brought in to halt the company¹s slide in market share in 2004. By 2008 the company had announced 12 consecutive quarters of sales growth....
Furniture and homeware giant Ikea has said that 2013 saw it reach record profits and increase market share across almost all of the countries in which it operates thanks to improving customer spending.The company¹s president Peter Agnefjall said that sales in Europe were starting to recover and that emerging markets...
British accessory maker Mulberry has warned that profits for the year will be substantially below forecasts due to a sharp decline in sales over Christmas and wholesale orders that have been in Korea.In a trading update covering the 17 weeks ended January 25th, Mulberry said that retail growth in its...
Carphone Warehouse Group has announced that it has entered into an agreement with Samsung that will see it open over 60 Samsung standalone stores across Europe.The move follows the opening of three standalone stores in Spain 2013, also operated by Carphone Warehouse.The new stores will be rolled out in the...
Over a billion smartphones were shipped last year, a 38% increase on the previous year, with Samsung increasing its lead as the world’s biggest manufacturer according to market research firm IDC.Over half of all the mobile phones in the world are now smartphones."Among the top trends driving smartphone growth are...
Shares in technology giant Apple fell by almost 9% following a warning to the markets that sales for 2014 are likely to be behind expectations.The company said that profits for the quarter ending January were flat, although they have not fallen since 2003, and despite a strong performance in China,...
A new piece of legislation from the EU, the Consumer Rights Directive (CRD), comes into force later this year, sparking major changes for retailers, particularly online.As part of the directive, the cooling off period for goods will be extended from 7 to 14 days, automatically ticked boxes for add-on products...
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