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Fashion chains Next, Sainsbury’s, Debenhams, M&S and Home Retail Group were among retailers who saw shares sink after announcing they will face significantly higher costs stemming from plans revealed in yesterday’s summer Budget.Shares in UK retailers sank by as much as 3% following Chancellor George Osborne’s announcement of a National...
Bargain Booze owner Conviviality Retail has confirmed that it is in talks to buy Punch Taverns-owned drinks wholesaler Matthew Clark Holdings.Matthew Clark is the UK’s biggest drinks supplier to the nation’s pubs and has been exploring options for a sale since May in order to provide a cash boost for...
Chairman of Arcadia Group, Sir Philip Green, is setting up a £100,000 fund for the students of Fashion Retail Academy (FRA) who want to start a business.The academy celebrated its 10th year at the FRA Awards last night which is where the British billionaire announced his plan.Students, teachers and some...
Maplin has announced that Oliver Meakin will become their new CEO starting from September 1st as well as reporting positive full-year trading results.The current CEO, John Cleland will step down and take a non-executive director role within Maplin and will hand over to Mr Meakin, the current managing director for...
Superdry’s parent company, SuperGroup, has seen shares jump 4.6% after it announced a 12.9% sales rise, beating analysts’ expectations.Gross margins climbed 120 basis points to 60.9%, as retail revenue jumped 17% and like-for-likes rose 4.8%. Wholesale revenues were up 4.9%.For the first 10 weeks of the current year, revenues were...
Wholesale group Booker has said that it will meet full-year expectations, following a good first quarter, with like-for-like sales at both its Booker and Makro businesses rising 0.4%.The group is currently awaiting a decision on the competition watchdog on its £40 million deal to buy retail chain Budgens and Londis.Charles...
George Osborne has announced plans to create a National Living Wage, replacing the minimum wage for workers aged over 25 from next April.The announcement, which should boost the wages of six million people, was part of wider moves in the budget to cut benefits for low paid workers but increasing...
It has been reported that toy retailer The Entertainer is to open a new store this year at Flemingate shopping centre in Beverley.The store which covers 5,200 sq ft will be located adjacent to Debenhams at the Wykeland scheme.Founder and managing director of The Entertainer, Gary Grant commented: “Flemingate is...
ASOS, the popular online fashion retailer, has announced a 20% rise in sales in the four months to 30 June.Figures show that sales are strong with an increase of 27% in the UK and an increase of 16% for international sales and recorded 9.7 million active customers which saw an...
The British Retail Consortium and Nielsen have released figures showing that shop prices have dropped 1.3% in June, compared with a drop of 1.9% in May.The figures also show that food sales dropped 0.4%, the lowest it has been since February 2015 and non-food dropped 1.9% compared to 2.5% in...
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