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Two of America’s most iconic department store chains, JC Penney and Macy’s, have separately announced that they are to close stores and cut jobs.JC Penney has said that it will be closing approximately 40 stores by April 4th, with the loss of 2,250 jobs. The news comes a year after...
US regulators have fined Japanese car giants Honda for a record $70 million (£46.4 million) for failing to report 1,729 deaths and injuries between July 2003 and June 2014.The fines were issued on two separate occasions, one for failure to report deaths and injuries for $35 million and the other...
Coca-Cola has announced it is to axe up to 1,800 jobs worldwide, affecting its Atlanta headquarters and international operations as it reported a 14% fall in sales for the July to September period.In a statement made in October last year, chief executive officer Muhtar Kent said the firm was aiming...
Marks & Spencer has revealed a drop in its clothing, gifts and homeware divisions over the Christmas period as delivery problems hit figures for the third quarter.Although the company saw “very good” results from its food section, general merchandise saw a 5.8% drop in like-for-like sales, impacted by disruption at...
The UK Statistics Authority has today published Paul Johnson’s independent review of UK consumer prices statistics in which he strongly suggests that the UK should drop the Consumer Price Index (CPI) in favour of a measure which includes owner occupiers’ housing costs and should drop the Retail Price Index altogether.The...
Matt Davies, group chief executive of Halfords Group, is to take the reigns of Tesco’s UK and Ireland operations as sweeping changes are announced at the supermarket group including the closure of its Cheshunt office as well as 43 unprofitable stores across the country.Dave Lewis, the new chief executive, added...
From February three of Motorola’s products will be re-entering the Chinese smartphone market it has been announced. This came about as China’s Lenovo obtained Motorola Mobility from Google in October 2014.The Moto X, new Moto X Pro and new Moto G will be up against popular international brands such as...
Fashion e-tailer boohoo.com has announced its trading figures for the four months to 31st December 2014 in which revenue in the UK grew 25%, with the rest of Europe up by 35% and the rest of the world up by 19%, having had a record week over Black Friday.With an...
The UK’s largest bookseller, Waterstones, has said that sales of books rose 5% in December, whilst Kindle sales “disappeared to all intents and purposes”.The increase in physical book sales follows a wide-ranging store refurbishment programme at the company and a reshuffle in the company structure that allows store managers more...
Sainsbury’s has waned that the outlook for the rest of the financial year is likely to “remain challenging” as it revealed its first sales fall in over a decade. The fall in sales overall comes despite double-digit growth in its convenience business, which saw its largest ever day for sales...
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