All News articles – Page 1648
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NewsPeter Ruis appointed buying and brand director at John Lewis
John Lewis buying director of fashion Peter Ruis has been promoted to buying and brand director.
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NewsNext appoints Francis Salway as non-exec
Next has appointed Francis Salway, the chief executive of property giant Land Securities, as a non-executive director.
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NewsLakeland and Richer Sounds ranked best shops in Which? survey
Richer Sounds and Lakeland have been ranked as the UK’s best shops with WHSmith and Currys Digital being named as the worst stores in the country.
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NewsVAT rise to 20% will lead to job cuts and £3.6bn fall in consumer spend
A rise in VAT to 20% would lead to 163,000 job losses and reduce consumer spending by £3.6bn, according to the British Retail Consortium (BRC).
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NewsJJB Sports posts £68.6m pre-tax loss
Embattled JJB Sports has reported a pre-tax loss of £68.6m in its full year results and sales collapsed 42% as the retailer warned its recovery will be “neither quick nor easy”.
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Abercrombie & Fitch Q1 sales up 14%
Abercrombie & Fitch has reported first-quarter net sales up 14% to $687.8m (£457m). Total like-for-like sales increased 1%, while net loss for the quarter narrowed to $11.8m (£8m) from $59.2m (£38m) in the same period last year.During the remainder of the financial year, the retailer expects to open Abercrombie & ...
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Sears Q1 revenue flat
Sears Holdings’ total revenue for the first quarter of 2010 has hit $10bn (£6.6bn), flat against 2009.Favourable exchange rate benefits from the Canadian stores and a 1.5% increase in domestic like-for-like sales, were offset by the effect of having 63 fewer Kmart and Sears stores in operation.The domestic like-for-like sales ...
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Foot Locker Q1 sales up 5.3%
Foot Locker’s first-quarter sales increased 5.3% to $1.28bn (£900m) compared with the same period last year.Like-for-like sales increased 4.8%. Total sales for the first quarter increased 3%, excluding the effect of foreign currency fluctuations. Net income was $54m (£36m), compared with $31m (£20m) last year.
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Reliance Retail in push for value formats
Reliance Retail is implementing a five-year plan to grow its value formats, including Reliance Fresh, Reliance Super and Reliance Mart.Through the programme, the company is adopting the tagline ‘Aapki Khushi Hamari Khushi’ (your happiness is our happiness) and said it will strengthen the presence of multi-formats and other retail channels, ...
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Best Denki plans 10 Taiwan stores
Japanese electronics retailer Best Denki has revealed plans to open 10 stores in Taiwan by the end of February 2011.At present the retailer operates through 13 shops in the market. The move comes as part of the its plans to increase its presence overseas with 15 to 25 new stores ...
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Woolworths aquires hardware businesses
Woolworths has acquired Gunns Retail Division in Tasmania and, in a separate arrangement, the Becks Timber & Hardware business.The Gunns acquisition includes five hardware stores in Tasmania, one timber joinery centre, one truss manufacturing plant and a support office.The move is part of the joint venture between Woolworths and US ...
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KiK aims for 5,000 stores
Tengelmann-owned clothing discounter KiK is planning to increase its number of stores across Europe from more than 2,900, to about 5,000 within the next five years. This will involve growth in the existing markets such as Germany, Austria, the Czech Republic, Slovakia and Hungary, as well as new market entries. ...
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No rush to sell PPR retail operations
According to chief executive François-Henri Pinault, PPR isn’t in a hurry to sell off its retail operations — entertainment and electronics retailer Fnac, household goods retailer Conforama and mail order specialist Redcats.He said: “I will take the time that is necessary to sell off our operations at good conditions.” When ...
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Gap posts £2.2bn Q1 sales
Gap has posted net sales of $3.33bn (£2.2bn) in its first quarter, a rise of 6% on the same period last year. Like-for-like sales increased 4% and net income rocketed 40% to $302m (£200m).Chairman and chief executive Glenn Murphy said: “Fuelled by our strengthened economic model, we are in a ...
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Eroski sales down 6%
Spanish grocer Eroski reported a 6% decrease in gross sales during 2009 to €8.43bn (£7.6bn) as the retailer’s price cuts amid weak consumer confidence weighed on sales.The retailer also reported a net loss of €69m (£62m), a drop of 29% on last year, as Eroski’s results continued to be hit ...
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NewsMohamed Al Fayed explains Harrods sale
Harrods owner Mohamed Al Fayed has explained his decision to sell the legendary department store.
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NewsAsda Income Tracker: Families had £8 a week less disposable income in April
The average UK household had £8 less a week in disposable income in April compared to the same period a year ago, according to Asda’s Income Tracker.
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NewsWaitrose and Ocado sign new 10 year deal
Online grocer Ocado has agreed a new 10 year deal with Waitrose to sell the upmarket supermarket’s products.
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NewsSmythson chief executive exits
Smythson chief executive Paddy Byng is to step down from the upmarket stationers and leather goods retailer at the end of the month.