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Ralph Lauren have posted a growth in revenue for their second fiscal quarter, helping the fashion group to beat Wall Street revenue estimates. The brand has increased its focus to social media where their aiming to target higher spending millennials. The brand has said that it has spent about 30% more on...
John Lewis sales grew by 1.4% year-on-year last week. Fashion sales were up by 7.6% as customers began shopping for their winter wardrobe. Womenswear and Menswear sales were up by 15.4% and 9.6% respectively. Furniture and flooring sales increased by 3%, with home sales up by 0.8%. Electrical and home technology sales were...
Co-op has revealed plans to open a new £45 million distribution depot, which would create up to 1,200 jobs in Bedfordshire. The building will be at Symmetry Park, which is near the A1 at Biggleswade. Work is set to begin at the end of 2019 with an expected opening date of...
Lloyds Banking Group is expected to confirm the cut of 6,000 jobs, but create 8,000 new ones as it overhauls its digital services. The 6,000 cut jobs are set to be spread across the bank and the unions have been briefed. According to Sky News, the lost jobs will fall in the...
Associated British Foods, the owner of Primark, has reported that Primark’s full year revenue was up 5% from the previous year, although like-for-like sales were down 2.1%. Sales reached a total of £7.4 billion and adjusted profit grew by 13% to £843 million in the year to 15th September. Primark’s UK performance...
Hugo Boss has decided that Birmingham will be the newest location for their new under the brand concept Hugo. The new store will be located in the Bullring, in a 3,000 square foot unit. It has been designed by an in-house team, and features natural materials such as maritime pine and...
The voluntary living wage is set be increased. The Living Wage Foundation has calculated the new rate to offset the rising cost of things like public transport and monthly rent. The rate will rise by 25p to £9 an hour for workers across the UK. London will see a rise of 35p...
It was reported in the Sunday Times that Marks & Spencer have explored the possibility of splitting its business in two. The board are said to have come to the conclusion that the split would be achievable, but then decided that the general merchandise division would not be attractive to investors...
Luke Johnson, the chairman of Patisserie Valerie, has said that he will waive his £60,000 salary as he focuses on reviving the café chain following an accounting scandal. He has told the board he would not take his salary for the rest of his time at the business. Johnson has also said...
Waitrose’ new Food and Drink Report shows how our wellbeing and environment have a large influence on the way people shop for food and drink. The report is based on OnePoll consumer research of people across the UK. It found that a third of the UK now have either meat-free or...
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