Lucky Brand has joined other retailers in filing for bankruptcy due to the coronavirus pandemic. On Friday, Lucky Brand Dungarees, LLC announced they had filed for Chapter 11 bankruptcy and that the company is looking to sell the business to SPARC Group, operator of Aéropostale and Nautica. The Los Angeles-based denim company is the latest... Continue Reading →
Luxury department store Harrods will axe 672 jobs, following similar cuts by Sir Philip Green's Arcadia Group and the owner of Upper Crust and Caffe Ritazza. Harrods blamed the coronavirus pandemic, which kept its flagship branch in central London closed for three months during the UK lockdown. The business, owned by the Qatar Investment Authority,... Continue Reading →
By DAILY MAIL CITY & FINANCE REPORTER Sainsbury's is under fire over the 'excessive' pay deal handed to its new boss Simon Roberts. Just days after Tesco suffered one of Britain's biggest shareholder revolts over fat-cat pay, its supermarket rival was accused of failing to align executive rewards with the interests of shareholders. Advisory group... Continue Reading →
By Elias Jahshan -June 28, 2020 The Hut Group's board has reportedly not yet made a decision whether the flotation would be conducted in the public or private markets. // The online beauty retail group is in talks about a share sale that could lead to a London flotation // Reports suggest The Hut Group is courting... Continue Reading →
By Sean Poulter Consumer Affairs Editor For The Daily Mail22:08 26 Jun 2020, updated 22:29 26 Jun 2020 The problems at Intu puts more than 100,000 jobs in jeopardy Some of its more famous sites are likely to be sold, while others could be lost forever Some of Britain's biggest shopping centres face closure, which threatens... Continue Reading →
Vote against backing remuneration report casts shadow over soaring sales news Tesco has suffered one of the biggest ever shareholder revolts over executive pay, casting a shadow over a strong sales performance during the coronavirus lockdown. Shareholders representing just over 67% of the stock voted at the retailer’s annual meeting not to back the remuneration report.... Continue Reading →
More than 80 Microsoft stores closed due to the coronavirus pandemic will not reopen19:45 June 27, 2020 Microsoft said Friday it will close all of its stores and move its retail operations online, keeping just four locations and transforming them into "experience centers."Image Credit: AP San Francisco: Microsoft said Friday it will close all of its... Continue Reading →
PUBLISHERReutersPUBLISHEDJUN 25, 2020 2:12AM EDTCREDIT: REUTERS/SIPHIWE SIBEKO South African budget retailer Mr Price on Thursday reported a 10.4% drop in annual earnings due to COVID-19 impairment provisions, and did not declare a final dividend in order to preserve cash. JOHANNESBURG, June 25 (Reuters) - South African budget retailer Mr Price on Thursday reported a 10.4%... Continue Reading →
By a Daily Business reporter | June 21, 2020 JD Sports sent shockwaves through the retail sector with a report that one of the best-performing high street chains intends to appoint administrators for its Go Outdoors’ chain. Go Outdoors, specialising in camping equipment, bikes and clothes, employs about 2,400 staff across 67 stores. It was acquired for... Continue Reading →
