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Buy now, pay later company Klarna is to reduce its workforce by 10% in a move which it has attributed to declining consumer confidence, inflationary pressures, a volatile stock market and likely recession. In a blog post, Klarna chief executive Sebastian Siemiatkowski said the company had re-evaluated its organisational structure to...

Pets at Home has increased its full year revenue by 15.3% to £1.317 billion to mark a record year for the business. In the 53 weeks to 31 March, retail revenue grew by 18.5% after store and online sales rose by 17.7% and 18.4% respectively. Meanwhile, underlying pre-tax profit climbed by 65.3%...

Gymshark Group has reported a 54% increase in revenue in the year to July 31 2021. The sportswear giant made net revenue of 401.9 million pounds, up from 260.7 million pounds a year earlier, according to filings at Companies House. The Solihull-based group’s profit before tax increased to 45.4 million pounds from...

The Vintage Store has chosen Liverpool ONE for the opening of its largest store to date. Set to launch  at the end of May, the site will span 12,000 square feet. The store will feature the brand’s signature collection of vintage clothing from sportswear brands such as Adidas, Nike and Champion as...

Mamas & Papas is to create up to 200 new jobs as it looks to expand its UK concessions with Next over the coming year. The 19 new locations will include places like Chelmsford, Cheltenham, Crawley, Ipswich, Oxford and Poole. Mamas & Papas already operates 14 concessions with Next and also has...

Tortilla has acquired fellow Mexican food chain Chilango for £2.75 million from investment firm RDCP Group. Chilango operates eight sites across the UK which offer both eat-in and take away options. The company also has a delivery channel which is supported by it own delivery kitchens. Tortilla said the move will accelerate...

Tesco has confirmed that it will be removing volume-led promotions on unhealthy food and drink products in October as planned. The news comes despite the Government’s announcement that restrictions on multibuy deals on foods high in fat, salt or sugar are to be delayed for a year. The supermarket said it was...

The John Lewis Partnership has announced the appointment of Lisa Cherry as its executive director for people. Starting September, Cherry will be joining the Partnership from the Post Office, where she is currently serving as group chief people officer. She has also previously worked in senior roles within Sainsbury’s, WHSmith and Wyevale...

VF Corporation saw its revenue climb by 9% to $2.8 billion in its fourth quarter after sales at The North Face brand rose by 24%. While sales were also up at Timberland, where there was growth 9%, revenue at the Vans footwear brand was flat in the period. The results meant that...

Moonpig has agreed to acquire gifting experience firm Buyagift for £124 million. The company said the move will deliver a step-change in its gifting proposition as it looks to benefit from the the growing £6 billion UK gift experiences segment of the gifting market. The acquisition is expected to complete by the...