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The latest Retail company and industry news with expert analysis from the Financial Times on FT.com
Updated: 33 min 47 sec ago
Clinton Cards to lose almost 3,000 jobs
The administrator says it will close 350 of the chain’s 784 UK stores, in a move that will see the Birthdays brand leave the high street
Categories: Retail and consumer
Activist investor aims to add zest to Pepsi
Ralph Whitworth’s Relational Investors has disclosed that it has acquired 9m shares as it aims to press for changes at the drinks giant
Categories: Retail and consumer
Alliance Boots defends tax bill
Pharmaceutical group says it paid £83m – up from £59 last year – as chief reveals he is weighing up a merger as an exit strategy for owners
Categories: Retail and consumer
JC Penney: underwhelming overhaul
The store’s switch from constantly changing promotions to a few stable price tiers appears to have overlooked shoppers’ fondness for the old disorder
Categories: Retail and consumer
Greggs to propose alternative to VAT move
Ken McMeikan, chief executive, will make a formal response to the Treasury concerning government plans to add the tax to all hot takeaway food
Categories: Retail and consumer
Target sales increase beats expectations
US discount retailer remains cautious in uncertain economic climate but posts a 6% revenues rise despite costs of entry into Canada taking their toll
Categories: Retail and consumer
JC Penney customers disdain overhaul
Department store halts dividend after first-quarter revenues drop as customers shun reforms brought in by new chief executive Ron Johnson
Categories: Retail and consumer
Tesco to slash bonuses after poor results
Payouts for 5,000 managers face being cut to 17% of maximum – from 100% last year – following the retail group’s worst performance in decades
Categories: Retail and consumer
Coty drops $10.7bn bid for Avon
The withdrawal comes as Coty’s deadline for Avon to respond expires, and brings to an end a tense six-week stand-off over the unsolicited offer
Categories: Retail and consumer
Groupon shares surge as revenues rise 89%
The daily deals provider reports its first profit since last November’s flotation as a steep increase in North American sales boosts growth
Categories: Retail and consumer
Food sector accused over migrant workers
Campaign group highlights exploitation and poor working conditions, saying there is evidence that some employers are infringing many rights
Categories: Retail and consumer
Best Buy founder to step down as chairman
An internal probe finds that Richard Schulze ‘acted inappropriately’ when he learnt of allegations about former chief’s relationship with an employee
Categories: Retail and consumer
A slice of the Chinese market
Three new books offer revealing insights into the minds and spending habits of China’s rapidly growing middle classes, writes Patti Waldmeir
Categories: Retail and consumer
Scots push for 50p minimum alcohol price
Government-set floor pricing slowly gaining global traction as more and more countries battle social and financial costs of drink-related crime and disease
Categories: Retail and consumer
Squeeze boosts trade at charity shops
Sales have reached a record high, prompting calls for more donations to meet demand from cash-strapped customers
Categories: Retail and consumer
Dixons’ new chief cracks on with task
Dixons’ new boss may have ear of the prime minister, but he will need to be resilient as various issues loom for the electrical goods retailer
Categories: Retail and consumer
Walmart to trial George clothing in Chile
UK designed clothing will be sold in 47 stores as retailer seeks to match current trends with southern hemisphere seasons
Categories: Retail and consumer
Dixons prepares for Greek eurozone exit
Electricals chain draws up plans to shutter 98 stores while chief executive says it could benefit as rivals suffer in any transition to the drachma
Categories: Retail and consumer
Disposals fail to ease Thomas Cook losses
Tour operator reports unaudited widening first-half losses, from £165.8m for the period last year to £262.7m
Categories: Retail and consumer
M&S moves into branded beauty products
Retailer to make a fresh foray into branded goods when it begins stocking a selection of beauty products
Categories: Retail and consumer
The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more