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Laura Ashley has reported a 14.9% hike in profits for the six months to July 26th, with total group sales rising 4.9%.The group added that trading for the five weeks to August 30th was up 8% on a like-for-like basis, taking the cumulative like-for-like performance for the year to +2.3%.Commenting...
Retail tycoon Mike Ashley has retained his 11% stake in department store group House of Fraser, despite the sale of the majority of the business to a Chinese rival.Chinese group Nanjing Cenbest took control of the company earlier this year and has offered to buy Mr Ashley’s stake but said...
American home improvement chain Home Depot may have seen one of the biggest data thefts in retail history, according to sources.Credit and debit card numbers, thought to have been stolen between late April and early May, has appeared online seemingly coming from Home Depot. If so, it has been speculated...
Former Home Retail Group (HRG) chief executive Terry Duddy is to be the new head of charity Retail Trust from Monday 8th September.Mr Duddy, who left HRG earlier this year, having been with the business for 15 years.Commenting on the role Mr Duddy said: "I am delighted to be appointed...
Google has begun testing drone deliveries as part of a scheme to revolutionise its delivery service.The details of Project Wing had been kept under wraps until recently. The plans feature unmanned craft with a wingspan of approximately 1.5 metres. The vehicle is known as a "tail sitter" - since it...
US grocery chain Market Basket has been sold to Arthur T Demoulas, ending a standoff between management and employees.Thousands of employees went on strike, costing the company an estimated $70m (£42m) a day, after Mr Demoulas was ousted by a rival faction, controlled by his cousin, Arthur S Demoulas.However, late...
The Airport Commission has rejected plans for an island airport in the Thames estuary dubbed “Boris Island” because of the Mayor’s strong support for the plan.Sir Howard Davies, chairman of the Airports Commission, said that factors in the plan’s rejection included the cost, economic disruption and environmental issues.In the report,...
Dutch brewing company Heineken has sold off its Mexican packaging business, Empaque, to a US firm in a deal worth $1.23 billion (£740 million).The transaction is expected to close by the end of the year and is subject to customary closing conditions and required regulatory approvals. Heineken said that the...
The new chief executive of Tesco is to start today after the company altered its financial expectations from £2.4 billion from £2.8 billion, its third profit warning of 2014.The new boss, Dave Lewis, was rushed in a month ahead of schedule to start immediately on a new turnaround plan for...
Malaysia Airlines is to cut 6,000 jobs as part of a recovery plan after the loss of two aircraft in high-profile disasters. The cuts represent around 30% of its entire workforce.The airline is to come under state ownership under the plan, which is expected to cost the equivalent of £1.1...
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