Shop Direct has swung to a multi-million-pound loss for the year after being hit by store closure costs and PPI mis-selling payouts. The fashion retailer posted pre-tax losses of £24.7 million in the year to June 30, down from a profit of £24.9 million a year earlier, while operating profits jumped 11 per cent to £262.3 million. Group sales edged up 1.5 per cent to nearly £2 billion as Very helped offset a poorer performance at its stablemate Littlewoods, posting a sales rise of 9.9 per cent to £1.4 billion
Dominic Chappell has told Hove Crown Court that he did “everything in his power” to provide information to the Pensions Regulator in order to retrieve £363 million from Arcadia owner Sir Philip Green. The former BHS boss continued his week in court as he attempts to appeal a conviction for failing to provide the Pensions Regulator with information about the firms pension schemes.
Orla Kiely’s parent company has fallen in administration leading to the closure of all it bricks-and-mortar stores. The fashion retailer, renowned for its elaborate 1970’s style prints, is understood to have told staff that the company could not afford to pay their wages, before making them redundant on Monday
Amazon currently has three of these locations — known as Amazon Go — open in Seattle, where the company is headquartered, and just this past week opened a location in Chicago.
Target is teaming up with Chrissy Teigen: The model and social media star is launching a cookware collection in stores later this month, The Business Journals reports.
After months of speculation, following Tesco’s announcement in February it would be launching a separate discount store, the grocer has finally allowed The Retail Gazette to lay eyes on its new entity. A launch event was held in the small Cambridgeshire town of Chatteris this morning, where a team of Tesco seniors including chief executive Dave Lewis presented Jack’s to a group of journalists. Named after Tesco’s founder Jack Cohen, Jack’s is a discount store aimed at breaking into the disruptive market currently dominated by the German discounters Aldi and Lidl.
Denny's is driving its 53-foot mobile kitchen to the Carolinas this week to provide free food to those in need.
P&G said its shaving subsidiary will immediately stop buying the hair and sell off its existing inventory, which ranges in price from $30 for an entry-level brush to $250 for its Silvertip Engraved brush.
The launch of the largest and most expensive iPhone to date is happening on the same day as the biggest “sneaker drop” yet from Kanye West's Yeezy line of Adidas trainers, The Financial Times reports.
The Competition and Markets Authority (CMA) has referred Sainsbury’s and Asda’s potential merger on for an “in depth” investigation.