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Michael Jeffries who has been the CEO of fashion brand Abercrombie & Fitch since 1992 announced he is to retire with immediate effect in the wake of declining sales.In the interim non-executive chairman Arthur Martinez will step in until a successor has been found.Mr Martinez said: "It is impossible to...
In the fourth quarter ended November 30th online grocery retailer Ocado saw its sales grow by 18.6% to £331.9 million, which means that the full year sales climbed by 20.4% to £1,026.5 million.Tim Steiner, Ocado's chief executive, said: "We are pleased with the continued steady growth in our business against...
Mens formalwear specialist Moss Bros has reported that like-for-like sales in the 19 weeks to December 6th climbed by 7.8%.For the 45 week period, total sales were increased by 5.6% and e-commerce sales rose by 81% year-on-year and now comprise 7.4% of group revenue. Moss Bros said trading was in...
US company Yum Brands which own restaurants such as KFC and Pizza Hut has lowered its full year profits for the second time due to slow sales in its Chinese business.The company had predicted a growth of at least 20% earlier in the year, however, it revised this to 10%...
A US Supreme Court has rejected a case brought by staff at an Amazon warehouse in Nevada who claimed they have to wait as long as 25 minutes for required security checks before or after their shifts, for which they aren't paid.According to US law, companies are not obliged to...
Pub chain JD Wetherspoon has boycotted all Heineken products in its 926 pubs in the UK and Ireland after an extraordinary row over pricing.Wetherspoon fell out with the Dutch brewing giant when Heineken refused to supply its lager and Murphy’s stout to Wetherspoons’ new pub in Dun Laoghaire, a town...
Online fashion retailer ASOS has reported a total rise in sales of 8% to £246 million in the three months to the end of November.UK retail sales increased 24%, however international sales fell by 2% to £141 million, in what the company described as a "challenging" environment.International sales remain a...
The British Retail Consortium (BRC) has announced that due to a successful Black Friday, UK like-for-like retail sales grew 0.9% on a like-for-like basis from November last year. In total, sales increased by 2.2% which is the best performance in three months with household appliances being the most successful category.Helen...
Supermarket giant Tesco has announced that its group trading profits will not exceed £1.4 billion for the full financial year. The anticipated total was predicated to fall between £1.8 billion and £2.2 billion.The news follows the announcement earlier this year that Tesco had overstated its profit guidance by £263 million,...
Premier Foods has said that it is to "simplify" its debated practice of requesting that its suppliers pay for the right to do business with them.The company, which owns brands including Bisto and Hovis, was strongly criticised after it was revealed they had received millions of pounds from such payments.Chief...
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