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ARKET is going to open its fourth store in the UK today. The opening follows the brand’s launch in August 2017 with stores on Regent Street and Covent Garden in London, as well as in Copenhagen, Brussels, Munich and Amsterdam, and an online store in 18 European markets. Located at the Bluewater...
Mothercare have now confirmed its decision to close 50 stores as part of their rescue plan, this move will put 800 jobs at risk. The retailer has said that they have been in a perilous financial position. The closures will leave them with 78 outlets in the UK by 2020. The retailer has...
Carpetright have issued details of their share issue, created to raise £60m. 232,463,221 new shares will be given at 28 pence each, they represent a discount of 15.8% to the closing price of 33.25 pence per regular share on 17 May 2018. The issue is part of a financial rescue plan, which includes closing 81 stores. Last...
The Co-op is ending “last-minute” sales of their fresh produce to reduce the amount of edible food going to waste in its stores every day. They have agreed that two hours before closing time, they will take out any items with a use by or best before date for that day and donate them to many...
Retail sector mergers and acquisitions have grown by 15 per cent in the last year as companies are trying to make up for struggling sales, a new study reveals. Figures have been compiled by the law firm RPC, their figures show there have been 37 retail mergers and acquisitions deals in the last year. The RPC have explained that the recently announced...
A new Burberry handbag and the final collection from Christopher Bailey has helped the British brand beat analyst’s expectations as it released a statement explaining a 5% rise in annual profits. The rise in profits is all thanks to Christopher Bailey’s rainbow-hued collection which was launched in February and another collection with the acclaimed Russian designer...
The Arcadia Group has reported a 42% drop in profits for its last financial year. Taveta Investments, home to The Arcadia Group, said it made operating profits before goodwill, amortisation and exceptional items of £124.1m in the year to 26 August 2017. However total sales fell 5.6% on the previous 12 months to...
Mothercare has explained that it is finishing off a rescue deal with its creditors after many years of falling sales and profits. Their restructure is likely to take a company voluntary arrangement (CVA), which usually sees a retailer closing many stores and renegotiating rents to prevent it from going into administration. Stephen Springham...
Morrisons has stated that they have had a major jump in profits for its most recent financial year report, which has been helped by a strong performance across its stores. The retailer explained that its pre-tax profits have risen by 16.9 per cent in the year to 4 February to £380m....
Will we be seeing more collaborations with big names in the future? The answer is most likely yes we will. In the corporate world two of the UK’s largest supermarkets Sainsbury’s and Asda have announced a £7.3bn merger, that’s big news. Their revenues are going upwards of £51bn, their staff 330,000 and their stores growing up to 2,800....
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