Budget supermarket Aldi has said that it is becoming a strong competitor to the hold of the “big four” supermarkets in families’ weekly shopping after posting record annual profits.The results, due to be released today, are expected to show that Aldi is attracting a new market of middle-class customers as...
Thousands of pubs and restaurants dropped their prices by 7.5% for a day last week as part of a planned protest over high taxes in the hospitality industry.The campaign, called "Tax parity day", was organised by the lobby group of French businessman Jacques Borel, the VAT Club.Campaigners argue that a...
Luxury bathroom fittings company Grohe has agreed a takeover deal with a Japanese building materials firm, Lixil.Grohe's British chief executive, David Haines, will remain in his post and has signed a five-year contract."For Grohe and Joyou, Lixil is a perfect match" said Mr Haines in a statement."As a growth-oriented company,...
A report by a Spanish parliamentary commission has said that Spain should be in the same timezone as the UK and Portugal in order to boost productivity.The country changed timezones in 1942 when General Franco moved Spain onto the Central European Time to become in-line with Nazi Germany."We sleep almost...
Dixons Retail has announced the sale of its loss making online retailer Pixmania.The group received an offer for the brand earlier this month from German industrial company Mutares which has developed a “robust” plan to build on Pixmania's pure play e-commerce operations as well as to further develop its market-leading...
Music and DVD retailer HMV will return to its original flagship store on Oxford Street this weekend, 92 years after it first opened and almost 10 months after sinking into administration.The first HMV was opened in 1921 at 363 Oxford Street and played a large part in the signing of...
The latest report from the Confederation of British Industry (CBI) has said that retail sales in the UK saw growth for the third month in a row and at their strongest pace for more than a year.The CBI said that sales figures had exceeded expectations, with further growth anticipated next...
Betting company Ladbrokes has said that a poor performance in its online business will mean that profits for the year will be lower than predicted.In what chief executive Richard Glynn said were “challenging” conditions, Ladbrokes issued its second profit warning of the year saying that, rather than the £27.5 million...
Fashion chain H&M said that profits rose by almost a quarter in the sales period ending August 31st.In the third quarter of the firm’s financial year, H&M saw group sales rise 12%, with a strong performance in its Asian markets contributing to the good results.Comments by CEO Karl-Johan Persson: "The...
Asda has withdrawn a “mental patient” Halloween costume it sold online which included a fake blood-spattered straightjacket and a fake meat cleaver.The £20 costume within the George clothing range caused an outrage on Twitter, with ex-footballer Stan Collymore, who has had a well documented battle with depression, tweeted: "Dear ASDA,...
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