Steinhoff has unveiled its first trading update since an accounting scandal plagued the company throughout December and January, posting a five per cent drop in total group revenue for its first quarter. The South African retail company said that total revenue for the quarter ended December 31 was €4.86 billion (£4.3 billion), down from the €5.10 billion recorded in the same period the year prior. The company, which owns UK retailers Poundland, Harveys and Bensons for Beds, added that it has appointed six new independent members to the supervisory board after the resignations of Len Konar, Claas Daun, Bruno Steinhoff and Theunie Lategan
Markus Jooste, the ex-chief executive of embattled retail giant Steinhoff, has been reported to an elite police unit by his former company in relation to an ongoing accounting scandal. Last year Jooste, who stood at the helm of the South African company during its rapid global expansion over the last 20 years, stepped down abruptly in December just as Steinhoff revealed “accounting irregularities”. The 57-year-old has now been arrested by South Africa’s Directorate of Priority Crime Investigation unit, also known as the “Hawks”
The Advertising Standards Authority has set its sights on Amazon, saying the online retail giant could be investigated after receiving complaints about its premium delivery service. According to reports in The Sunday Telegraph and the Guardian , Amazon customers have contacted the ASA to complain that the “unlimited one-day delivery” that comes with the Prime service is failing to deliver on time in the run-up to Christmas. READ MORE: MPs press Amazon on delivery driver treatment following expose Amazon Prime, which costs £79 a year, promises delivery within two days but customers complaining to the ASA allege that this target has not been met – and some parcels took twice as long to arrive
Fast fashion retailer Forever 21 has warned customers of an unauthorised data breach granting access to credit card data. A third-party source warned the retailer earlier this week that in some instances, an encryption used to hide credit card details was not working. It suggested that card details from transactions made between March and October this year had been subject to unauthorised access
H&M has been accused of burning tonnes of unsold items every year, flying in the face of its widely-publicised sustainability drive.
Ex-BHS owner Dominic Chappell is due in court today to answer charges relating to the sale of the collapsed department store chain. The Pensions Regulator has accused Chappell of failing to comply with notices issued under Section 72 of the Pensions Act 2004 . The regulator said they requested he provide information for the investigation on three separate occasions: April 26 and May 13 last year and February 20 this year
Habitat and John Lewis have stopped selling certain granite worktops after it was revealed that child labour and slavery may have been used to mine them. Findings from a new study conducted by the India Committee of the Nederland’s (ICN) revealed that many of India’s major granite mines violated labour and human rights laws
Aldi has been fined £1 million following an accident which saw a delivery driver fracture all the toes on his left foot, leading to two being amputated. On Friday, the budget retailer pleaded guilty in Derby Crown Court to two offences relating to health and safety breaches and has been forced to pay out a substantial fine, according to The Derby Telegraph. On his second week working for the grocer, the victim sustained the injuries while operating a powered pallet truck.
The Competition Markets Authority (CMA) has said today that it believes the merger between Tesco and Booker could harm competition and will now commence a 24-week in-depth probe. The news follows a request from Tesco and Booker to “fast track” the investigation which was accepted by the CMA