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MyLocal, the convenience store chain formerly owned by Morrisons has revealed that it is to offload 10% of its sties due to a “challenging” trading environment. Having purchased the chain last year from WM Morrison, Greybull Capital who now owns MyLocal are looking to sell around 25 stores to J Sainsbury,...

It has been announced that British menswear brand Steel and Jelly has launched its first flagship store at Grand Central shopping centre in Birmingham. The menswear brand are also looking to open a further two outlets this year, possibly in London and Bristol. Over 200 people attended the launch, which featured...

Booker Group, parent company of Londis and Budgens, has recorded an encouraging revenue growth despite the current "increasing competition". Booker recorded a full year pre-tax profit of 9% to £150.8 million following a 5% increase in revenues to £4.9 billion. Sales grew 2.2% and non-tobacco sales increased by 6.3%. Total like-for-likes edged...

Mother and child retailer Mothercare has returned to profit as its turnaround plan begins to bear fruit. In the year ended March 26th, underlying profit before tax was up 51% at £19.6 million, whilst its UK division saw online sales growth of 15%, like-for-like sales growth of 3.6% and losses...

Sailing, equestrian, shooting and outdoor clothing brand Musto has appointed Simon Rosenberg, formerly of Pepe Jeans and Tommy Hilfiger Europe, as head of retail. The move precedes a period of planned expansion for the group including store development, retail expansion, improved customer experience and focus on merchandising. Mr Rosenberg was also at...

TK Maxx owner TJX has seen sales increase 10% in the first quarter, with comparable store sales up by 7%. Despite a hostile consumer environment and unseasonable weather, which has seen other fashion retailers flounder, the group reported net income in the period ending 30th April of $508 million. It added that...

Department store John Lewis has revealed its sales increased 4% year-on-year last week with the weather dictating shopping behaviours. Figures show that electricals and home technology saw the largest increase of 8%, with wearable technology the outright winner with sales increasing 352%. In other areas, home sales grew 2.9% as the weather...

It has been announced today that Android Pay has finally landed in the UK after months of rumours. The service has been available in the USA for a while and draws in around 1.5million new users each month. Banks supporting the app include Lloyds, HSBC, Halifax and Bank of Scotland. RBS...

Luxury fashion brand Burberry has announced that it will be streamlining its product ranges and overhauling its retail operations after disappointing full-year results. Pre-tax profits fell to £415.6 million in the year to 31 March, from £444.6 million the previous year. Revenues fell 1% on an underlying basis to £2.5 billion and...

It has been revealed that luxury fashion brand Hugo Boss has promoted Mark Langer, chief financial officer to CEO to boost the business. Mr Langer, who has taken over from Claus-Dietrich Lahrs will hold both chief executive and chairman positions on its board. Since announcing its largest quarterly loss in six years,...