Next is set to reveal that its profits were cut by more than half last year after its stores were shuttered by lockdown measures.
However, investors are banking that the company will recover strongly as restrictions continue to ease, with its share price more than doubling in the past 12 months despite the pandemic.
The retailer has consistently upgraded its profit...
Jessops, the camera retailer owned by Dragons’ Den’s Peter Jones, has filed a notice to appoint administrators after it was badly hit by lockdown restrictions.
The company, which was bought by Mr Jones’s PJ Investment Group in 2013, currently employs 120 staff and runs 17 stores.
It has hired insolvency specialists FRP and said it is now considering a Company’s Voluntary...
Sports Direct owner Frasers Group has bought a retail part in Wigan as it looks to expand its property operations.
The Mike Ashley-led retail vehicle has said it acquired the Robin Retail Park in Wigan for an undisclosed sum.
It told investors that the move demonstrates its commitment to “investing and elevating bricks and mortar retail”.
The retail park, which has a...
Thousands of Argos customers are to share more than £500,000 of e-gift card payments, after the firm failed to remind people they could shop around when taking out an extended warranty.
Argos has also agreed to fix the way it sells extended warranties to customers and provide a goodwill gesture to those who may have missed out on a better...
Growing a small business in 2021 will pose its challenges. There seems to be more new small businesses cropping up than ever before, specifically because various online platforms are becoming more popular. For example, small businesses and particularly those that are operating online are excelling in sales by using careful digital marketing techniques. If you have a physical business...
Asda bosses have lost a Supreme Court equal pay fight with store workers.
More than 40,000 Asda store workers, about two-thirds of whom are women, brought equal pay claims after complaining that staff working in distribution depots unfairly get more money.
Asda bosses said store jobs were not comparable to distribution centre jobs.
The store workers, who are represented by law firm...
Asda bosses are waiting for a ruling on a Supreme Court equal pay fight with store workers.
More than 40,000 Asda store workers, about two-thirds of whom are women, have brought equal pay claims after complaining that staff working in distribution depots unfairly get more money.
Asda bosses say store jobs are not comparable to distribution centre jobs.
Store workers, who are...
Retail sales volumes recovered slightly in February but not enough to offset heavy falls a month earlier, new data from the Office for National Statistics (ONS) has suggested.
Volumes rose 2.1% but only partially recovered on the 8.2% fall in January, with sales still down 3.7% on a year earlier and before the Covid-19 pandemic impact.
Clothing retailers reported the largest...
Santander has announced plans to close 111 branches by the end of August in response to the ongoing shift by customers towards mobile and online banking.
The trend has been accelerated by the pandemic, although branch transactions fell by a third over the two years before the virus crisis and declined by a further 50% in 2020, said the banking...
Scandal-hit retailer Boohoo has slashed its supplier network by more than 400 firms amid an overhaul after allegations over working conditions for factory staff.
The online fashion firm revealed a list of 78 approved suppliers across 100 factories – a significant drop on the estimated 500 suppliers previously identified in an independent review of the business by Alison Levitt QC.
It...