Budget retailer Poundstretcher suffered a £3.7 million annual loss, with like-for-like sales down 2.1% in the year to March 31st.The retailer blamed the loss on exceptional costs of £4.5 million and a competitive market. However, the company opened 15 stores since the start of September and is due to open...
M&S has said that it will hold a 30%-off Christmas sale, starting tomorrow. The move comes after shares slumped when analysts predicted that the retailer might miss its financial targets.Earlier this week, Debenhams asked suppliers to cut their prices, whilst Gap raised its price cuts from 50% to 60%. ...
American retailer Target has said that up to 40 million customers’ credit card details could have been stolen in a scam that began on Black Friday and lasted for up to three weeks before being discovered.The retailer said it was conducting an investigation after discovering that thieves had gained access...
Fashion and homeware brand Laura Ashley has seen a 2% fall in total sales in the 19 weeks to December 7th, with a like-for-like sales drop of 0.7%.However, in a statement, the company added that Christmas and January combined is a key trading time for the group, with much of...
Unemployment fell to its lowest rate in four and a half years in the three months to October, prompting fears that interest rates could rise earlier than expected.The governor of the Bank of England, Mark Carney, said in August that he will increase interest rates when unemployment falls to 7%,...
M&S has confirmed that all of its toys will be gender neutral from spring 2014. On Tuesday, the company Tweeted to say it had listened to customer feedback after complaints that its separate toy ranges for boys and girls were fuelling “casual sexism” and “gender segregation”.M&S said that although it...
Department store group Debenhams has asked suppliers of its own brand products to cut their bills by 2.5% in the face of a slow December for many retailers.In the letter seen by the Financial Times, the chain's chief financial officer Simon Herrick, said: “As we will mutually benefit from the...
Dixons has hailed its comprehensive restructuring programme for improving the group’s fortunes to such an extent that not only was customer satisfaction and profitability up considerably year on year, but the group also posted an underlying profit for the first time in six years.In an “encouraging” first half, the group...
According to new research from the National Apprenticeship Service, one in five employers currently have former apprentices working in board level positions, with 29% of companies in the South West saying they have former apprentices at senior management level. The findings are being released to mark the launch of the...
Tesco has set out plans that will help it to become the first global chain to enter India since the Government relaxed the rules on foreign investment over a year ago.Under the plans, Tesco will invest approximately $110 million for a 50% stake in Star Bazaar supermarkets, with a plan...
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