Next is slowly working its way back to health following the shock of the lockdown. Full-price sales in Q2 still fell 28%, but it said this was“much better" than it expected and recent weeks have improved further.
South African retailer Steinhoff International said on Monday it had proposed a settlement worth up to around $1 billion to settle a stream of legal claims against it following a massive accounting fraud.
The social network beloved by Gen Z has announced the establishment of a fund of $200 million to pay successful U.S.-based creators, further revealing that this financing is set to increase in the future.
Official data on Friday showed that June’s retail sales volumes rose 13.9% month-on-month in June “as non-food and fuel stores continue their recovery from the sharp falls since the start of the pandemic”.
John Lewis’s plan to close its Birmingham department store has pitted its current chairman Sharon White against former boss Andy Street, who oversaw the location’s opening and is now the city's mayor.
The UK government’s latest decision to postpone its business rates revaluation once more has been criticised by property specialists who have repeated their calls for fundamental reform of the system of property taxes.
E-tail giant eBay has sold its Classifieds Group that includes Gumtree, its UK-based business, to rival Adevinta. The $9.2bn deal sees the Oslo-based firm paying $2.5bn in cash and eBay gets a 44% stake in the new owner.
The first quarter of its financial year wasn't a good one for Matalan with its revenue plummeting by over 70% as Covid-19 devastated its trading. It was loss-making, but it still has plenty of cash available.