Bestseller, the group behind Vero Moda, Jack & Jones and more, closes its financial year "unexpectedly positive". The decline in turnover was smaller than expected, although profits plummeted rapidly.
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Digital is the New Normal for Nike. Between June and August, online sales increased 82%, offsetting the continuing decline in physical sales. The trainer brand also saw its profit rise slightly.
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German department store group Galeria Karstadt Kaufhof is taking a terrible hit from the coronavirus, reducing turnover by up to a billion euros. Management says stores could be closed and jobs axed to cut costs, but the Belgian branch would escape.
Yesterday afternoon, Auchan’s management and unions were at the negotiating table. The trade unions are worried about a possible new redundancy plan that would mean the loss of at least a thousand jobs.
Debenhams is facing a decisive year. Nineteen branches of the British department store chain will close this month alone. 660 people will lose their jobs. Thirty more will follow soon.
As it posts its first quarter results, Belgian frozen vegetables producer Greenyard says it has turned a page and is headed for more profitability in the second half of its broken financial year.
Tesco breathes a sigh of relief as the British supermarket group is well underway towards reaching its transformation goals. Turnover and profits both increased in the past financial year.