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Online fashion giant ASOS has recorded another rise in full-year profit, bolstered by strong sales in both its UK and overseas markets.In the year to August 31st, retail sales rose 40% to £754m and profit before tax and exceptional items rose 23% to £54.7 million.Nick Robertson, CEO, commented: "During the...
Both divisions of Home Retail Group, Argos and Homebase, have reported a rise in sales for the six months to the end of August.Although pre-tax profits dipped to £14.2 million from £46.7 million, underlying profit was up 53% to £27.4 million after exceptional items.At Argos, sales rose 2.3%, with a...
Tesco has said that it generated almost 30,000 tonnes of food waste in the first six months of the year, 41% of which was made up of bakery items and 21% fruit and vegetables.Dairy products and convenience foods such as ready meals each made up 8% of the waste, impulse...
Pub chain Spirit, which owns the Chef & Brewer, Flaming Grill and Fayre & Square chains, has said that it remains confident, despite a looming deadline that will require it to pay back its £700 million debt next year.The company, which was spun off from Punch Taverns in 2011, is...
A rescue plan for the Co-operative bank will see its parent company lose overall control of its banking arm as a result of a rescue deal.Under the terms of the original deal, designed to plug a £1.5 billion hole in its balance sheet, the group would have retained a 70%...
Apple has asked HMV to remove a feature from its music app which allows users of the new iPhone to download music, bypassing Apple’s own iTunes service.Apple has told HMV that the app will be suspended unless the changes are made, according to HMV’s owner Hilco.HMV launched the iOS app...
The head of Waitrose, Mark Price, has set an ambitious target of tripling the size of the business in the next ten years, according to the Mail on Sunday.The target will be backed by an annual £300 million of investment which will see the supermarket open 20 stores per year...
Coffee chain Starbucks has been accused of charging higher prices in China than in other markets by China Central Television.The report claimed that a medium sized latte at the firm’s Beijing store costs a third more than at a store in Chicago in the US."Starbucks has been able to enjoy...
Gillian Ridley-Whittle, the development and buying director for Marks & Spencer is leaving the retailer after only a few weeks in her new position. The move follows the exit of the retailer’s “knicker queen” Janie Schaffer in the summer and head of merchandising Cathy Haydon in September.M&S’s non-food sales have...
Merlin Entertainments has said that it is planning to issue shares equating to 20% of the company to the public in an effort to reduce the company’s debt.The group, which runs the Legoland, Thorpe Park and Alton Towers theme parks, has a turnover of £1 billion a year and is...
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