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Morrisons meddles with ‘Match and More’

Tuesday 06 October 2015 - Posted by Philip Gallagher

Morrisons is set to drop is price match guarantee, just one year after the scheme was launched.   The ‘Match and More’ loyalty scheme will stop rewarding its members points for finding the same item at a lower price in German discounters Aldi and Lidl.   According to Morrisons, the changes are coming due to customer confusion about how they receive points. The Advertising Standards Author...


Dixons Carphone dials up a management reshuffle

Tuesday 06 October 2015 - Posted by Philip Gallagher

Andrew Harrison, Deputy Chief Executive of Dixons Carphone, will be moving to the company's Connected World Services division as part of a management restructuring.  He will remain Deputy CEO of the electricals giant and will “have oversight of CWS, Direct to consumer Services and Dixons Carphone’s MVNO (mobile virtual network operator) business”, a spokesperson has said.  Graham Stapleto...


Is Ted Baker becoming a global lifestyle brand?

Tuesday 06 October 2015 - Posted by Veebs Sabharwal

Ted Baker’s sales jumped 24.5% to £226.8m for the 28 weeks ended August 15.  The British retailer’s ecommerce sales grew a stellar 64%, with wholesale sales up 39.1% to £58.6m and licence income having increased by 16.7% to £6.4m.  Geographically, the upmarket fashion retailer performed well in all of its regions. North America was the most notable market, as sales soared 37.4% to £39.7m....


Making dough: Greggs enjoys profitable quarter

Tuesday 06 October 2015 - Posted by Philip Gallagher

High street baker Greggs today revealed strong third quarter results as it achieved growth ahead of expectations.  In the 13 weeks ending on 3 October, like-for-like sales at Greggs shops grew by 4.9%, making like-for-like sales for the year to date 5.6%. Total sales in the period grew by 5%, bringing the year’s increase to 5.1%  At the same time, Greggs shied away from discussing how it ...


Ocado to create almost 2,000 jobs by Christmas

Tuesday 06 October 2015 - Posted by Veebs Sabharwal

Ocado is shopping for staff: The online grocer is on a major recruitment drive for 1,798 workers to join before December, as it poises to seal a deal with an overseas grocer.  It is understood that the 15 year-old business is seeking candidates for positions across business support, operations, customer services, service delivery, human resources, development & engineering, technology & plan...


Experts call for clarity over new controls for councils

Tuesday 06 October 2015 - Posted by Philip Gallagher

Following the announcement by Chancellor George Osborne that local councils will have the power to set their own business rates, experts have called for greater clarity on how the process will work.  Speaking at the Conservative party conference in Manchester, Osborne said: “I am embarking on the biggest transfer of power to our local government in living memory. We’re going to allow local g...


What is Paula Schneider doing to rescue American Apparel?

Monday 05 October 2015 - Posted by Veebs Sabharwal

American Apparel, the teen clothing company which operates the largest garment factory in the US, has filed for bankruptcy protection to clear the majority of its debts and enable a restructure. The beleaguered retailer, which ousted its CEO and founder Dov Charney last year, said it will continue trading during the bankruptcy process in the US. The reorganisation will see American Apparel's...


Losses widen at Austin Reed

Monday 05 October 2015 - Posted by Veebs Sabharwal

Pre-tax losses at Austin Reed grew to £5.4m last year compared with a £1.3m loss the previous year. After a difficult trading period, the troubled shirt-maker was forced to close 31 stores as part of a restructure. In May, the group was given a three-year loan from European retail investment fund Alteri Investors to buy new stock and invest in the e-commerce division. This was on top of £3m ...


Watchdog investigates Sainsbury’s annual report

Monday 05 October 2015 - Posted by Philip Gallagher

The UK’s accounting watchdog has written to Sainsbury’s after the big four grocer failed to disclose income from suppliers in its recent annual report.  Following Tesco’s accounting scandal last year, where a £263m hole was discovered in the supermarket’s accounts, the Financial Reporting Council (FRC) warned that all retailers must provide investors with sufficient information on their acco...


Fat Face plans new distribution centre to support next phase of growth

Monday 05 October 2015 - Posted by Veebs Sabharwal

Fat Face, the UK lifestyle clothing brand, has announced it is in advanced negotiations with Portsmouth City Council to acquire a new Distribution Centre at Dunsbury Hill Farm in Havant.  The new DC is subject to successful planning and commercial negotiations and will provide up to 120,000sq ft of working space to support the business’s growth plans, whilst ensuring the continued employment...

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