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Pub group Punch Taverns has launched a proposed restructuring plan for its £2.3 billion of debt, warning that if it fails to agree the move with lenders it could lead to the company defaulting.The group, like other pub groups, has been hit hard in recent times by taxes, the recession...
British luxury fashion brand Burberry saw a 12% rise in comparable sales growth over the Christmas period, as an “intense” focus on its retail operations paid off.Retail revenue rose 14% in the three months to December 31st, driven by a “compelling and focused festive offer”.Angela Ahrendts, Chief Executive Officer, commented:...
Peter Marks, the former chief executive of the Co-operative Group is to leave his position on the board at travel group Thomas Cook after less than two and a half years.Frank Meysman, chairman said: "I would like to thank Peter for his support and contribution as a Board member and...
Supermarket chain Sainsbury’s has overtaken rival Asda for the first time in a decade, making it currently number two in the UK’s biggest supermarkets.According to data from Kantar, seen by the Telegraph, Sainsbury’s sales jumped from 1.8% in the 12 weeks to December 8th to a 6.7% rise in the...
Menswear group Moss Bros has said that it will beat forecasts for year after a strong Christmas trading performance was supported by on-going cost saving efforts.Like for like sales for the 5 weeks to 11 January were up 12.9% on the same period last year, with stock levels at the...
Dixons Retail has changed its creative advertising agency from M&C Saatchi to AMV BBDO as part of a plan to “revitalise” its marketing and advertising in the UK and Ireland.Benjamin Kaye, head of brand communications at Dixons Retail said of the appointment: “We are delighted to have AMV on board...
Brewery and pub group Greene King has said that strong trading was behind record Christmas sales.Like-for-like sales in the last six weeks were up 5%, pushing year-to-date sales up 3.8%.Rooney Anand, chief executive officer, said: "Trading over the important Christmas and New Year period has been very strong with all...
Online fashion retailer ASOS has continued its run of recession-busting success by announcing a 38% rise in sales for the last four months of 2013.Retail sales in the UK were particularly strong, rising 37% and international sales grew by 38% with a notable performance from the EU which was up...
The number of convenience stores operated by Sainsbury’s will overtake its supermarkets this week, reflecting how consumer patterns are changing.The company’s convenience business is growing at nearly 18% and saw its biggest ever sales day on Christmas eve at nearly £7 million. In a statement, Sainsbury’s said that this “underscores...
A survey of 100 large companies has suggested that they are planning to increase their recruitment of graduates by approximately 9%, or 1,400 more jobs. This is the highest increase in entry-level recruitment in four years.According to the study, supermarket chain Aldi offers one of the highest starting salaries with...
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