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Economy
Consumer spending drops 26.7% year-on-year in May
Consumer spending contracted 26.7% year-on-year in May. This is according to new data from Barclaycard, which revealed that spending on…
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Luxury Goods
Mulberry to cut global workforce by 25%
Luxury retailer Mulberry has announced the launch of a consultation process on proposals to reduce its workforce by approximately 25%…
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Supermarkets
FRC closes five-year investigation into Tesco
The Financial Reporting Council (FRC) has announced the closure of a five-year investigation into the accountants working within ‘Big Four’…
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Coronavirus
Consumer confidence slips further amid UK lockdown
GfK’s long-running Consumer Confidence Index has decreased by two points over the past two weeks. In the market research firm’s…
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High Street
M&S lowers share award payout for top execs amid Covid-19 pandemic
Marks and Spencer has lowered the share payout for it’s top two executives, amid the ongoing Covid-19 pandemic. This largely…
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High Street
28 Oddbins stores saved from administration by unnamed buyer
Off-license retail chain Oddbins has seen 28 of its stores saved from administration by an unnamed buyer. It comes as…
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Supermarkets
Sainsbury’s CEO reveals new appointments to operating board
Sainsbury’s new chief executive officer, Simon Roberts, has made two changes to the ‘Big Four’ grocers operating board. Clo Moriarty,…
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High Street
Ted Baker raises £95m rescue fund amid full-year losses
Embattled fashion retailer Ted Baker has announced its intent to raise approximately £95m in gross proceeds to support it through…
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Department Stores
Mike Ashley fails to prompt financial investigation into Debenhams
Retail mogul Mike Ashley has failed to trigger an investigation into the financial affairs of embattled department store chain Debenhams,…
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Online & Digital
UK online sales surge by more than 100% in May
UK online sales surged by 103% in the four weeks ended 16 May, according to new data from Nielsen. The…
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