All News articles – Page 351
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NewsPret to cut almost 3,000 jobs as pandemic sets business back by a decade
Sandwich and coffee shop giant Pret A Manger is to axe 2,800 roles after sales fell back to the level of 10 years ago, as the Covid-19 pandemic decimated trading.
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NewsWalmart and Microsoft join forces on TikTok bid
Walmart has joined forces with Microsoft to launch a multibillion-dollar bid for TikTok’s US business.
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NewsScrewfix to open 40 new stores by new year
Screwfix plans to open 40 new stores in the coming months despite the impact of the coronavirus pandemic on the retail industry.
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NewsDFS to sell Sofa Workshop to furniture rival Halo
Furniture group DFS has penned a deal to sell Sofa Workshop to luxury home design company Halo.
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NewsThe Works swings to loss amid ‘significant’ coronavirus impact
The Works has swung to a pre-tax loss following the “significant impact” of the coronavirus crisis.
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NewsOcado finance boss Duncan Tatton-Brown steps down
Ocado’s chief financial officer Duncan Tatton-Brown is retiring from his role after eight years with the group.
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NewsThe Hut Group targets £4.5bn valuation in stock market float
The Hut Group has revealed its intention to float on the London Stock Exchange, with a target valuation of £4.5bn.
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NewsWorld Retail Congress goes digital for 2020
The World Retail Congress, sister brand to Retail Week and Retail Week Live, is launching a virtual Congress that will be streamed live on September 15-17.
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NewsSupply chain watchdog shuns Boohoo Leicester inquiry, questions independence
Supply chain monitor the Ethical Trading Initiative (ETI) has declined to take part in Boohoo’s Leicester inquiry, questioning its focus on factories and not on the retailer’s buying procedures.
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NewsNew Look ‘very confident’ of winning CVA support but landlord body hits out
New Look chief executive Nigel Oddy is “very confident” landlords will back the fashion retailer’s proposed CVA – its second in two years.
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NewsNew Look launches CVA following new financing
Under-pressure fashion retailer New Look has unveiled CVA proposals after conducting a £440m debt-for-equity swap and with lender backing.
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NewsDebenhams gears up for business rates battle to decide its future
Department store chain Debenhams is gearing up for a battle over a proposed business rates hike on one of its stores that it says could decide the future of the whole group.
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NewsFrasers Group considers mothballing Bob’s Stores chain after Nike severs ties
Frasers Group has launched a strategic review of its Bob’s Stores chain in the US after Nike revealed it will stop supplying product to the business.
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NewsJohn Lewis launches virtual queueing trial in stores
John Lewis and Waitrose are piloting virtual queuing technology in stores to eliminate physical queues and protect customers from coronavirus.
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NewsDFS reports trading ‘significantly ahead of expectations’
DFS, the specialist sofa retailer, has reported strong trading in recent weeks as consumers splashed out on their homes.
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NewsArcadia under fire over furlough redundancy terms
Sir Philip Green’s Arcadia fashion empire has been accused of possible law-breaking over redundancies connected to the government furlough scheme.
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NewsNext to open beauty stores in former Intu Debenhams branches
Fashion giant Next has signed deals with retail property group Intu to open new-concept beauty halls.
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NewsTreasury denies chancellor is looking to ditch digital sales tax
The Treasury has denied it is considering ditching the £500m digital sales tax first introduced in March, following reports at the weekend.
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NewsStudio Retail profits grow as it anticipates ‘strong’ Christmas trading
Online value retailer Studio has reported positive full-year results, which have since been strengthened by trading throughout the last 20 weeks.
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NewsHome secretary urges Boohoo to take charge of its supply chain
Home secretary Priti Patel has sent a letter to Boohoo chief executive John Lyttle, calling on the retailer to ensure the protection of all its workers.