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A new study from professional services consultancy Towers Watson has found that more than one in three (36%) companies plan to make a change to their HR structure before the end of next year.The survey of more than 1,000 companies, found that just over half (53%) are doing so to...
The pressure on the Co-operative Group is set to intensify this week as it announces its first financial results since revealing a massive gap in its balance sheet.Half-year figures on Thursday are expected to show more deep losses triggered by its disastrous acquisition of the Britannia Building Society, which sent...
The John Lewis Partnership is to pay its staff an extra £40 million after it realised that it had been miscalculating holiday and Sunday pay levels for the past seven years.The mix-up will mean that approximately 69,000 partners are to receive an average of £350 in additional holiday pay.Tracey Killen,...
Boardwear retailer Billabong has seen its annual losses triple, sending shares tumbling 15%.The Australian company lost out in key markets such as the US and Europe as an ambitious international expansion plan increased the group’s debt. However, its home market is also performing weakly....
Microsoft chief executive Steve Ballmer has announced that he will be retiring from the technology company within the next 12 months.The company is currently undergoing a restructuring process, announced by Mr Baller last month. In a statement, he said the company needed “a CEO who will be here longer term...
A tie-up between Costcutter and the owners of Mace stores has been cleared by the Office of Fair Trading, The merger will create the UK’s second-largest convenience store chain behind Premier, which is owned by Booker.The 50:50 joint venture will give the group 5 billion of buying and negotiation power...
US fashion retailer Abercrombie & Fitch has announced a 10% drop in like-for-like sales in the quarter to August 3rd, whilst heavy discounting meant that it generated half of the profits it had predicted. Mike Jeffries, chief executive, said: “The second quarter was more difficult than expected due to weaker...
According to a new study by Key Note, it has been estimated that women’s plus-size clothing sales have risen by 21.4% over the last 5 years as the number of women considered to be overweight or obese rises.The Health Survey for the UK discovered that over half the female population...
Worldwide ecommerce sales grew 21.1% to top $1 trillion for the first time, according to a new report by eMarketer.Sales in the Asia-Pacific area are also predicted to surpass North America this year, with total sales growing 18%.According to eMarketer, more consumers shifted spending from physical stores to retail and...
The former boss of JJB Tom Knight will be launching his new concept for Matalan by the end of the year.The 14 Sporting Pro shops are expected to fill the void left by JJB Sports which went into administration last year, closing 130 stores and resulting in 2,200 redundancies.The stores...
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