Kingfisher to close 60 B&Q stores in Britain

«Top NewsTue Mar 31, 2015 7:52am BSTLONDON (Reuters) - Kingfisher (KGF.L), Europe's biggest home improvement retailer, said on Tuesday it planned to close about 60 underperforming B&Q stores in Britain as the group posted a 7.5 percent fall in annual profit.The store closures form part of new Chief Executive Veronique Laury's plan to shake-up the... Continue Reading →

Prada’s profit takes a hit from China

Luxury retailer Prada says the company will implement cost-cutting measuresItalian luxury goods retailer Prada saw its net profit fall 28% last year as sales slumped in major markets of China and Europe.The firm's net income was €451m ($490m; £330m) for the year ending 31 January, down from €628m a year ago.The amount also fell short... Continue Reading →

Benetton family sells stake in World Duty Free

The Benetton family has sold its controlling stake in World Duty Free to Switzerland's Dufry.The deal creates the world largest travel retailer, with a market share of 25% and projected annual sales of $9bn (€8.3bn; £6bn).Dufry is paying €10.25 a share for the 50.1% stake, valuing the group at €3.6bn.World Duty Free operates 495 stores in... Continue Reading →

More senior staff get the axe at Morrisons

THE chief executive of Morrisons, David Potts, is continuing his cull of senior management, following last week's decision to cut five members of its 11-strong board.Around 20 members of top-level staff are set to be cut in an attempt to make the supermarket giant a "leaner" organisation.A Morrisons spokesman said: ”Following last week’s announcement of... Continue Reading →

Tesco Ireland appoints new CEO

Tesco Ireland appoints new CEOAndrew Yaxley, new Tesco Ireland CEONewsRead More: Tesco Ireland25 March 2015 | 0Phil J Clarke is retiring in AprilAndrew Yaxley has been announced as the new CEO of Tesco Ireland. Yaxley (47) is currently the managing director of Tesco’s London business. Prior to that he held a number of positions in the commercial function... Continue Reading →

Halfords Group on Monday announced the appointment of Jill McDonald as chief executive, with effect of 11th May.

Halfords appoints new CEOThe current CEO, UK and president of North West Europe for McDonald’s Corporation, McDonald also counts Colgate Palmolive and British Airways in her resume.Speaking in light of the announcement, Halfords chairman Dennis Millard said:“We are delighted to have recruited Jill, who has a strong track record of heading a large, complex, service-led... Continue Reading →

Record earnings for Tiffany in 2014

American jewelry house of Tiffany reports full year 2014 worldwide net sales rose to $4.25 billion, which represented a 5% increase in dollars or a 7% increase on a constant exchange rate basis which was on top of a 10% increase in 2013 on that same basis.Tiffany net earnings for the full year rose 167% to $484... Continue Reading →

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