Retail news round-up on May 19, 2015: Dunnes Stores profits fall in the UK, Alibaba hopes to cut out fake goods with QR-code style technology, BHS vows return to high streets.
Dunnes Stores UK business reveals fall in profits
Dunnes Stores UK saw its profits slump by 55% to £1.2m in the year ended February 1, 2014. Turnover at the British subsidiary of Irish retailer declined to £24.5m from £27.6m in the year earlier, reportsThe Irish Times. The company’s tax bill reduced to £238,000 during the period.
Alibaba looks to cut out fake goods with QR-style codes
Alibaba has unveiled a new range of QR-like codes to crackdown on counterfeits, The Drum reported. The Chinese e-commerce giant, in conjunction with Israeli start-up Visualead, is planning to embed Dotless Visual Codes, which resemble QR codes in appearance, as a means of informing consumers they can be scanned.
Unlike QR codes, Dotless Visual Codes can be embedded with colourful imagery or branding to integrate with products and packaging. With this, each manufacturer can assign a unique code to their items which can be confirmed as legitimate with a scan.
BHS new chief vows ‘rightful’ return to high streets
BHS new chief executive Darren Topp has vowed to return the troubled 87-year-old retailer to its “rightful place” on the high street and backed the chain’s new owners. Topp has promised to boost performance at the loss-making company, reports The Independent.