Nike has returned to growth reporting a double-digit rise in revenues during its fourth quarter thanks to strong international sales. The fourth quarter saw Nike’s revenues rise 13 per cent to $9.8 billion (£7.45 million), comfortably above analysts’ expectations of $9.4 billion (£7.15 million)
Congrats on the rebrand! Tell us a bit about the journey to become Loqate.
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.
China’s largest retailer JD.com has launched a $550 million (£414 million) partnership with Google which will see the former sell products through Google Shipping across the world. Under the new partnership the pair will pool their monumental technological resources to develop the “next generation” of retail solutions
Fund managers are reportedly slashing their stakes in Mothercare, indicating a growing vote of no confidence from shareholders for the baby products and maternity retailer. Shares in Mothercare have plunged by 71 per cent since the start of the year, thanks to a January profit warning and an update last Friday that full-year profits were likely to be even lower than the £1 million to £5 million range outlined in the January profit warning.
The UK’s largest music equipment retailer Gear4Music has seen a massive sales rise amid its full year results, driven by international sales growth. In the 12 months to February 28, Gear4Music enjoyed a 43 per cent rise in total sales to £80.1 million
The UK’s largest music equipment retailer Gear4Music has seen a massive sales rise amid its full year results, driven by international sales growth.
Literature retailer Waterstones has announced the launch of a pop-up book store that will only stock books written by women. To mark International Women’s Day on March 8, Waterstones will launch the pop-up in partnership with publishing giant penguin. READ MORE: Waterstones enters exclusive takeover talks with Elliot Investors Dubbed the “Like A Woman” store, it will open in Shoreditch’s Rivington Street between March 5 and 9 and arrange books in categories based on the impact the author had on society
The appeals system for business rates has come under fresh scrutiny following the release of government data reporting a drop in the number of property owners challenging the tax. Figures published by the Valuation Office Agency (VOA) this week revealed that since the new “check, challenge and appeal” system was launched in April, an average of 940 appeals a month were made.
Jim Cramer sat down with PVH Chairman and CEO Manny Chirico to get his take on the international retail space.