MPs vote to strip Sir Philip Green of his knighthood October 20, 2016 MPs have voted to strip Sir Philip Green of his knighthood. MPs have been debating the collapse of BHS in the House of Commons. The amendment to take Green's knighthood was supported by over 110 MPs. The vote is not binding, and the ultimate decision over his knighthood will be taken by the honours forfeiture committee. Read more: [...]
Why the NBA brand remains a slam dunk for recruiting new basketball fans across the globe October 20, 2016 While you may not have watched a single NBA match on television last season, the brand will likely have still cut through to you through a LeBron James replica jersey, an LA Lakers T-shirt or a Chicago Bulls cap. The fact that the NBA’s collection of distinctive and recognisable team logos look good on clothes has been a [...]
Sterling slips after shoppers scale back in September October 20, 2016 The pound has started the day nervously after new figures showed consumer spending is starting to slow and attention to turns to central banks in the Eurozone and the US. Sterling was down 0.2 per cent against the euro at €1.1175, and lost a touch of ground against the US dollar to stand at $1.2267. Retail [...]
Why is good behaviour in business such a radical idea? October 19, 2016 One of the most significant passages of Theresa May’s wide-ranging speech at the Conservative Party conference earlier this month criticised selfish bosses, rigged markets and dysfunctional businesses. Calling for a new spirit of citizenship, the Prime Minister highlighted a rogues’ gallery of those companies who refused to play by the rules, infuriated their customers and [...]
Gap is closing down all of its UK Banana Republic stores October 18, 2016 Gap has said it will be closing all eight of its Banana Republic stores in the UK as part of a global re-evaluation. The retailer will be focusing its attention on North America, after announcing in May that it was reassessing the overseas presence of Banana Republic, which has suffered falling sales. Net sales in [...]
Asos to move employees onto a higher living wage in the next 18 months October 18, 2016 Hitting back at accusations that it mistreats workers, Asos said today it will be moving employees onto the living wage foundation level of pay over the next year and a half. The Living Wage Foundation sets a separate minimum wage for employers that companies opt-in for. Currently, companies in the scheme pay a minimum of £8.25 [...]
Harley-Davidson sales slam on the brakes in the US but shares bounce October 18, 2016 Harley-Davidson reported a fall in earnings today, after sales fell in the US – but sales in Canada, Europe and Asia Pacific were strong. The figures The iconic motorcycle brand said net income had fallen to $114.1m (£92.7m) in the third quarter, down from $140.3m last year, while consolidated revenue dropped to $1.27bn, from $1.32bn the year before. That pushed earnings per share to $0.64 in [...]
Gear4music proves that buying musical instruments online is the way to go October 18, 2016 Shares in Britain's largest online musical instrument retailer fell by two per cent despite posting half-year results that showed it had grown revenue and profit by over 70 per cent. The numbers Aim-quoted Gear4music's revenue increased from £12.5m to £21.6m with gross profit rising from £3.3m to £5.8m. The company's gross margin percentage – the percentage of [...]
Take that, Aldi: Tesco gains market share for the first time in years but Morrisons, Sainsbury’s and Asda decline further October 18, 2016 It looks like Tesco is beginning to win the battle of the supermarkets, after new figures showed it won supermarket share in the last three months – for the first time in five years. Figures by Kantar Worldpanel showed Tesco increased sales by 1.3 per cent in the 12 weeks to 9 October, which pushed its [...]
Asos reports soaring sales despite fashion industry woes October 18, 2016 Online fashion giant Asos has reported soaring sales despite the widespread struggles of the fashion industry. The figures Retail sales came in at £1.4bn, up 26 per cent, in the year to 31 August, with £603.8m coming from the UK. Read more: Asos set to bag a Brexit win this week Pre-tax profit for the year [...]