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John Lewis Partnership set to invest

Friday 24 April 2015 - Posted by Rachel Gee

John Lewis released its annual report and accounts for 2015 today, highlighting that the company’s sales and customer numbers increased, while  profit and bonus fell, something the group puts down to the, “highly competitive and deflationary trading environment in the grocery sector”. “We achieved strong sales with increased market share and customer numbers. However, our underlying profit ...

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Boohoo to launch tailored menswear collection

Friday 24 April 2015 - Posted by Editorial Assistant

Boohoo is set to launch a men’s tailored collection this August, featuring a combination of jackets, trousers and waistcoats. When bought collectively the items will total a nifty £100. The fast-fashion e-tailer will be sourcing traditional Italian materials for its formal wear - offering its young customers a taste of smart dressing at a smart price. Keeping on trend, the brand has said...

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French Connection - a world away from its heyday

Friday 24 April 2015 - Posted by Rachel Gee

French Connection’s shares have crashed by 20% in early trading, leading the UK fashion chain to warn that its financial performance this year will not be lucrative.  “The current financial performance for the year is now expected to be below the current market expectations” the upmarket fashion retailer confirmed. Shares were down by 10.9p to 41.07p in the first half hour of trading, wh...

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Dixons Carphone to sell majority stake in Dutch arm

Friday 24 April 2015 - Posted by Veebs Sabharwal

Dixons Carphone today announces that it has entered into an agreement to dispose of a majority 83% stake in its Dutch business: The Phone House Netherlands BV. Relevant Holdings BV will acquire the majority stake, a company set up by the shareholders of Optie1, a company with extensive experience of telecom retailing in the Dutch market. Following completion, which is expected to take place...

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Amazon shows no signs of slowing down

Friday 24 April 2015 - Posted by Veebs Sabharwal

Amazon's first-quarter revenue grew more than expected as rising sales in North America and its burgeoning cloud-computing services unit offset new business investments. The e-commerce giant gave financial details of its secretive cloud-computing unit Amazon Web Services for the first time yesterday, revealing that revenue soared almost 50% to £1.04bn. The unit's operating income grew 8% to...

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Sainsbury’s to shelve 800 jobs in management restructure

Friday 24 April 2015 - Posted by Veebs Sabharwal

In a move not unlike Morrison’s last week (which is cutting some 720 jobs from its head office), Sainsbury’s has detailed proposed changes to its supermarket structures to ensure that stores are “better able to respond to changing customer demands”. The proposals will help achieve some of the £500m cost savings being made over the next three years, set out in the company’s strategic review,...

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Retailers celebrate the royal baby boom

Friday 24 April 2015 - Posted by Rachel Gee

Celebrity style has always had a huge impact on retailers. From Victoria Beckham’s black and magenta ‘sell-out’mini dress in 2012 to Kate Moss’ $150 leopard Topshop number that sold out within 15 minutes.  In recent years celebrity branding has become more regal, following Kate Middleton’s wedding dress frenzy back in 2011. At the time wedding retailers jumped at the opportunity to push the...

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Asos to create official Paralympic collection

Thursday 23 April 2015 - Posted by Editorial Assistant

Asos is continuing to drive the fusion of sportswear and fashion. The e-tailer has announced its plans to team up with GB’s Paralympics team to create their formalwear for the Rio 2016 sporting events. The online giant has partnered up with British Paralympics Association to design a “stylish” and “unique” collection for the team to wear at the games’ opening ceremony in Rio De Jeneiro. ...

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Mcdonald's follows Tesco in sales plummet

Thursday 23 April 2015 - Posted by Editorial Assistant

Mcdonald’s is yet another food-supplier giant to announce a large first-quarter sales decline. The food chain yesterday reported a $5.95bn revenue drop equalling to an overall 11% decline, compared to its like-for-like results from last year. Mcdonalds claims it experienced a decrease in footfall throughout stores, primarily from east Asian customers. The fast-food giant’s net income has pl...

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March marks 9th month of decline for retailers

Thursday 23 April 2015 - Posted by Rachel Gee

March witnessed strong year-on-year growth, which increased by a welcomed 4.2% compared to March 2014’s results. This was the 24th consecutive month of year-on-year growth – the longest period since May 2008. Although results improved year-on-year, profits in the retail industry were actually down by 0.3% in March compared to February. Average store prices also fell - for the 9th month in a...

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