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Next has released its annual financial results, reporting the first drop in annual profits for eight years and confirming predictions of a challenging period for the retailer. Pre-tax profits dropped by 3.8% to £790.2 million for the year to January, marking the first drop since 2008. Prices at the retailer were...

Ted Baker has reported strong growth after releasing its full-year results despite “external challenges” across its expanding global markets. The fashion brand published a pre-tax profit boost of 4.4% to £63 million for the year to January 28th, as total revenues rose to 16.4% to £531 million. Online revenue has been credited...

Small businesses, especially those that are independent or family-owned, are set to face difficulties in the coming months due to the rise in business rates set out by the government. Some firms face up to a 45% increase in their tax bill, with overall businesses in London facing an overall...

Home improvement retailer Kingfisher have announced a significant rise in profits with Screwfix leading the way in terms of their most profitable businesses. Chief executive Veronique Laury noted that “It has been a very productive and important year, a year which has again delivered sales and profit growth”. Total adjusted...

Shop employers have been forced to increase redundancies in a bid to save money in the face of the implementation of a raised national minimum wage. Up to 4,000 jobs have been made redundant due to cost pressures as well as increasing technology making certain roles more and more obsolete....

Once again, British supermarkets may be hit by another shortage, this time centred around fruit produce. On the back of last month’s shortage of leafy vegetables cause by adverse weather conditions abroad, increased sales combined with a poor harvest for British farmers has put significant pressure on supermarkets to carefully...

The number of physical fashion and footwear stores fell across the UK in the past 12 months, with some regions seeing as much as a 5% decrease. In Scotland, the decline was indeed 5%, whereas areas such as the Greater London area showed a decline of 2%. The total number...

A recent study conducted by the Federation of Small Businesses (FSB) has shown that the top priority of these smaller firms maintains single market access within the EU. 63% of those surveyed indicated that trade in the EU was a top priority for their company, with the US and Australian...

Earnings growth is forecast to grow at a much smaller rate than in previous years as the dropping value of the pound continues to have detrimental effects in the UK economy. Last year, earnings grew by a significantly higher rate of 1.8% when compared to the 0.1% rise in the...

Whilst figures released in Springboard’s monthly report suggest that the High Street is making a slow comeback with footfall on the rise by 0.1% in February, Retail parks and shopping centres have been hit hard. Retail parks saw a year-on-year drop in footfall of 1.6%, signalling an even faster decline...