Amazon has cracked down on tens of thousands of products from overseas sellers who don’t charge or account for VAT. According to The Times , the online retailer banned thousands of overseas sellers from its platform over the weekend which were thought to be guilty of tax evasion, following a voluntary deal with HMRC. In the last year an estimated £1.5 billion has been lost in unpaid VAT tax from online sellers, according to the National Audit Office.
The news about Facebook and its issues with Cambridge Analytica has been widely reported, with Facebook coming under intense scrutiny and fire for the perceived inadequacy of its privacy controls that enabled the now defunct British consulting firm to harvest and use Facebook user data to influence the 2016 U.S. election.
A British sporting goods giant has entered into a deal that will give it a major presence in the U.S. market.
A British sporting goods giant has entered into a deal that will give it a major presence in the U.S. market
Sainsbury’s is slashing the prices of 930 everyday grocery products in its stores and online from today. The Big 4 grocery retailer said customers will benefit from lower prices on essential products in both fresh and ambient sections of the store. These include both the retailer’s own-brand food ranges, a number of branded household favourites, and everyday toiletries and household items.
In the 1970s around one in every 200 American was employed by Sears, the pioneering retailer which dominated the country for decades.
Missguided is set to expand its business to the Middle East thanks to a new partnership deal with retail group Azadea. The British clicks-to-bricks fashion retailer is poised to embark on an expansion through franchise with the roll out of stores, websites and click-and-collect services in the UAE, Qatar, Saudi Arabia, Kuwait, Bahrain, Jordan, Lebanon and Egypt. The franchise agreement is regarded as the next step in Manchester-based firm’s global expansion plan, having already established a presence in France, Germany and the US.
A new study has found that Brits have collectively blown £4.46 billion on spontaneous purchases while under the influence of alcohol. According to price comparison site Finder, almost half of British adults – 45.8 per cent or around 15 million people – who regularly drink alcohol have admitted to making a purchase while under the influence. Finder’s new report, which surveyed 2000 adults, also revealed that the average spontaneous spend while drunk shopping was £291.07 each, totalling an estimated £4.46 billion.
Italy’s peak competitions and market authority has given the go-head for Richemont to take full control of online luxury retail group Yoox Net-A-Porter (YNAP). Swiss-based Richemont – which owns high-end brands such as Cartier, Montblanc and Dunhill London – already has a stake in the YNAP Group, but in January it made a public tender offer to buy the shares it does not own for €38 (£33.5) per share.
The group chief executive of the South African parent company of British retailers Phase Eight, Whistles and Hobbs has announced his retirement. Doug Murray, who has led The Foschini Group for 11 years, said he would retire on September 2.