Some of Britain's biggest retailers including Tesco and bookstore Waterstones have urged the government to permanently cut business rates if it wants physical stores to survive in the age of mass online shopping.
Laura Ashley shares fell as much as 8.7% on Friday after the company said Katharine Poulter is becoming its new CEO, replacing Kwan Cheong Ng, who is retiring. The change is effective on 1 May, according to a statement.
Britain's retail sector was boosted by Boris Johnson's general election victory on Friday, as investors factored in expectations of a step-up in consumer sentiment and spending in the key holiday season period.
Malls owner Capital & Regional (C&R) is in talks with Debenhams about the “right-sizing of stores” as the department stores operator continues with its plan to close up to 50 (or 90, some reports say) of its locations.
Debenhams has named a new Chief Financial Officer, which may not be the most exciting news, but coming at a time when the firm’s finances are heavily under scrutiny due to its slow turnaround, it’s very important.