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UK retail sales were down 0.8% on a like-for-like basis from June 2013, when they had increased 1.4% on the preceding year, according to the latest BRC-KPMG sales monitor for June. On a total basis, sales were up 0.6%, against a 2.9% rise in June 2013.Excluding Easter distortions, this is...
Sports brand Adidas has signed a deal with Manchester United to produce the team’s kit for the next decade, starting next season.The deal follows Adidas’ rival, Nike’s decision to end its own deal with the club at the end of the 2014/15 season.The deal, worth £75 million per season to...
Business Secretary Vince Cable has said that he wants to tighten the rules on takeovers of UK firms by foreign investors. This would include potentially fining firms that double-back on promises made during the deal.Mr Cable said that his reforms would leave companies no “wiggle room” following the failed takeover...
Restaurant chain Pizza Express has agreed a £900 million deal which will see Chinese firm Honey Capital take over the group’s ownership.The UK’s Gondola Group, which also owns UK pizza chains Zizzi and ASK Italian, recently opened the first Pizza Express branch in Beijing and chief executive Richard Hodgson said...
Sports Direct has teamed up with MySale Group to launch the sportswear brand in Australia and New Zealand.MySale, one of Australia's and New Zealand's most successful online flash sales fashion retailers, will operate the e-commerce platform as part of a new joint venture, giving Sports Direct immediate access to MySale's...
Investors in fashion house Burberry have opposed the pay package planned for its boss Christopher Bailey in a move which the company called “disappointing”.Mr Bailey, who took over as chief executive in May, was awarded a £10 million a year package which Burberry called “a lot of money” but said...
Chocolate maker Lindt has agreed a deal to buy its US rival Russell Stover, which will make it the third largest chocolate manufacturer in North America.Although financial details of the deal have not been released, it has been described as the “biggest and most important strategic acquisition in Lindt &...
Pets at Home has said that it is planning an expansion throughout the UK following a “pivotal” year in which is acquired the Vets4Pets chain.The group is planning 50 new pet grooming salons and 60 vetinary surgeries in the next year after reporting a rise of 11.2% in revenues.Nick Wood,...
Amazon is being sued by the US Federal Trade Commission (FTC) for allegedly allowing millions of dollars of unauthorised purchases by children in its mobile app store.Amazon has declined a settlement offer and has said that it will not accept tighter controls."Amazon's in-app system allowed children to incur unlimited charges...
Marks and Spencer's chief financial officer Alan Stewart is joining Tesco, filling the position left vacant when Laurie McIlwee announced he would step down in April.Mr Stewart's basic pay and benefits package is reported to jump from £579,000 at M&S to £750,000 at Tesco when he joins in approximately six...
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