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American Eagle Outfitters has announced that Jay L Schottenstein will be taking on the role of permanent CEO, following an increase in sales while in his current role as interim chief executive. The company saw an 8% rise in sales in the three months to October 31st compared to the same...
Former creative officer and co-founder of Jimmy Choo, Tamara Mellon, has filed for bankruptcy. Jimmy Choo and Ms Mellon opened the shoe and accessory chain’s first store in Knightsbridge in 1996, leaving in 2011 after the company was acquired by Swiss company Labelux. Ms Mellon went on to found her own eponymous...
The Yoox Net-a-Porter group sales soared over Thanksgiving period, with Black Friday and Cyber Monday marking its highest sales days on record. Its Black Friday sales soared 82% compared to 2014. The luxury e-commerce player received one order every 1.4 seconds on Cyber Monday. The most expensive item sold was a...
It has been reported that investment business the Lewis Trust Group has purchased a “significant” stake in Mint Velvet, the womenswear retailer, although the actual amount was unspecified. The group, which also founded popular fashion brand River Island, reportedly plans to open 20 stores in the next three years and to...
Morrison is to be dropped from the FTSE 100, the UK’s top listed companies, after 14 years. The news comes after the supermarket reported a 47% slump in profits for the half year amidst a fierce price war between the ‘big four’ grocers along with the fast-growing discounters Aldi and Lidl....
Supermarket giant Sainsbury’s has announced that it will be working with families in Swadlincote, South Derbyshire to tackle food waste by giving the market town £1million. Working with the local council and community groups in 2016, they will be testing ideas such as using artificial “noses” to see if food is...
UK retail prices for non-food in November fell by 3.3% due to discounts in DIY, electricals, footwear, clothing, hardware and gardening. Figures from The British Retail Consortium-Nielsen Shop Index also show that overall sales decreased 2.1% compared with the same period last year which was a joint low with March...
Co-operative chief executive, Richard Pennycook, is to become Howdens Joinery’s non-executive chairman. Richard Pennycook will assume the role in May 2016 when long standing chairman, Will Samuel, steps down at the close of the company’s AGM. During the past five years, Richard Pennycook has also held directorships at the Morrisons supermarket chain...
Fortnum & Mason expects to have its best Christmas to date after website sales helped annual revenues and profit hit a record high. The upmarket department store group reported sales up 19% to £88 million for the year to the end of July. Pre-tax profit jumped 31% from a year earlier...
Holland and Barrett has announced that X Factor and I’m a Celebrity Get Me Out of Here star Jake Quickenden, is to be the new sports nutrition range ambassador. Jake will be promoting Holland and Barrett’s protein shakes and sports nutrition supplements as he is into body building and also used...
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