All articles by Nicola Harrison – Page 140
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Best Buy unveils new international team
US electricals giant Best Buy has revealed its new management team for its international operations.
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Blackwell boss steps down
Blackwell UK chief executive Vince Gunn has left the retailer with immediate effect.
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Asda to demolish building to avoid empty property tax
Asda is demolishing one of its former call centres to avoid empty property rates.
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Retail like-for-likes slip again in August
Hopes of a summer sales lift have fallen flat as UK retail like-for-likes slid 1 per cent in August.
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Grocers are hiking prices above costs
Supermarkets are increasing food prices at a faster rate than their costs are rising.
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Housing policy brings industry little comfort
The Government’s 1 billion raft of initiatives to kick-start the housing market is unlikely to improve retail trading, store chiefs and analysts have said.
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Original Factory defies gloom with profit hike
Original Factory Shop has bucked the downward trend with a profit jump of 16.4 per cent to 7.7 million in its full year to March 31.
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Sears should merge brands, say analysts as profits sink
Sears will have to merge its Sears and Kmart brands if it is to compete against rivals, say experts, after profits plunged at the US retailer.
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Price rises to hit non-food
Price hikes of more than 6 per cent on non-food items such as T-shirts, shoes and sofas are possible next year, because of the sterling’s collapse against the euro and the dollar.
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Asos chief nets £352,000 in pay and bonuses
Asos chief executive Nick Robertson took 352,000 in pay and bonuses last year after bucking the downturn and more than doubling pre-tax profits at the business to 7.3 million.
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Smallbone trebles profits
Furniture retailer Smallbone became the latest luxury retailer to buck the downturn, more than trebling its pre-tax profit for the six months to June 30. However, the retailer remains cautious about the future trading environment.
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Fads owner makes a loss
Strategic Retail, which owns home furnishings retailer Fads, has revealed a loss of 145,000 for the year to March 1 compared with profit of 194,000 the year before.
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NewsWoolworths shareholder backs Malcolm Walker bid rejection
Woolworths’ biggest shareholder is backing the variety store retailer in its rejection of Malcolm Walker’s £50 million bid, according to The Sunday Times.
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Suppliers lose out on supermarket special offers
Supermarkets pocket 86 per cent of profits made on items sold on money-off promotions, according to a report seen by The Daily Telegraph .
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Borders UK restructures buying team
Eight buyers at Borders UK are to leave the retailer following a review of the buying team structure.
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Carrefour posts robust performance
Carrefour has revealed better than expected results, delivering a rise in net income of 1.2 per cent to €750 million ( 603.4 million) for the first half of this year.
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Analysis
Sitting pretty
Furniture chain Dwell achieved record sales last month at a time when most retailers in the sector are struggling. Founder Aamir Ahmed tells Nicola Harrison how he does it.
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Tesco supplier in US reported to employment tribunal
One of Tesco’s suppliers in the US has been reported by America’s biggest food workers’ union in the latest spat between the two organisations.
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Westfield London 96 per cent let as luxury brands sign
Westfield London has revealed its White City development is 96 per cent let, 10 weeks before it is due to open on October 30.
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John Lewis vows not to axe staff
John Lewis chairman Charlie Mayfield has vowed not to cut any jobs over the coming year, despite admitting these were the toughest trading conditions he could remember.