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Employees at Waitrose and John Lewis are to receive their lowest bonus in 12 years, at 11% of their salary, after profits at Waitrose took a hit in a competitive market.John Lewis Partnership said in an annual statement that its department store brand, John Lewis, saw a 10.4% rise in...
A “cartel” of the biggest French yogurt companies has been fined a total of Eu193 million (£136 million) for price-fixing over the past six years. The companies involved include Novandie, Lait, Senagral, Les Maitres Laitiers du Cotentin, Yeo Frais, Laiterie H Triballat and Alsace Lait. However, Danone, the world’s biggest...
Morrisons has released its full-year financial statement, showing a 52% fall in pre-tax profit, its worst results in eight years. Chairman Andrew Higginson said that this was due to a tough year, but added that the supermarket is a “strong, distinctive business”.On a positive note, the company’s new CEO David...
A report by Human Rights Watch has suggested that Cambodian-based suppliers of clothing brands such as H&M, Gap, Armani, Adidas and Marks & Spencer are carrying out unfair and discriminatory practices.The report showed that workers are required to work overtime and there is discrimination against pregnant women.In a statement by...
Sir Philip Green has sold department store group BHS to investment vehicle Retail Acquisitions. The move will extricate BHS from Sir Philip’s wider Arcadia group, which also includes TopShop, Wallis and Dorothy Perkins, with which it was integrated in 2009.Sir Philip said: “I am pleased that we have found a buyer...
Ocado has announced a 15% sales boost in the 12 weeks to 22 February 2015 with shows an increase in orders of 18%Tim Steiner, Ocado's chief executive officer, said, "Our business continued to grow, against a backdrop of a retail market that remains challenging and competitive."We remain committed to improving...
US burger restaurant chain Shake Shack has seen a fall in shares by as much as 8%, after confirming a net loss of $1.4 million (£936,000) for the period, compared to $997,000 a year earlier. The earnings report was Shake Shack's first as a publicly listed company.The firm said the...
According to a government-backed report, keeping older people at work can create more jobs and boost wages for younger people.Ros Altmann, the government-appointed champion for older workers, has reported that extending working lives would add £55 billion a year to the UK economy, suggesting that if everyone worked one year...
Later today, MPs are expected to vote to ban branding on all cigarette packets sold in England by 2016.The move will bring the UK into line with Australia, which adopted a similar practice two years ago.The matter will not be debated and MPs are expected to vote the move through...
The latest grocery share figures from Kantar Worldpanel, published today for the 12 weeks ending 1 March 2015, have showed that grocery sales declined by 1.6%, which is a new low according to records.This is due to the ongoing price war between the major supermarkets Tesco, Sainsbury’s, Asda, Morrison’s and...
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