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Amazon pays £3m in taxes on £4bn UK sales Wednesday, 15th May 2013
New reports of accounts filed by Amazon on Wednesday show the online retail giant’s main UK subsidiary paid just £3.2 million in tax last year, on overall sales of £4.2 billion. According to a report by the Guardian, the company’s tax charge for the year brings a total of £6 million paid by Amazon.co.uk Limited in a decade.
French Connection European trading comes in flat Wednesday, 15th May 2013
Fashion retailer French Connection on Wednesday reported trading at its UK/Europe retail business was broadly flat on a like-for-like basis for the first 15 weeks of trading. French Connection said it saw a strong performance in the early weeks of the year, which softened in March but has improved again recently, in line with the same trend seen in the market as a whole.
Trinity Leeds exceeds footfall expectations as 2 million make beeline for new centre Monday, 13th May 2013
Trinity Leeds owners Land Securities report footfall came in ahead of expectations in the centre’s debut month, as more than 2 million shoppers visited the city’s brand new complex. The new, 93,000 square metre centre recorded opening day footfall of 132,000 visitors, with 1 million in the first 10 days and 2.7 million in the first month.
My-wardrobe hints at US push Wednesday, 24th April 2013
‘Everyday luxury’ e-commerce site My-wardrobe is said to be looking stateside to further expand its fashion and accessories brand. Having launched in the UK in 2006 and Australia in 2011, founder Sarah Curran told WWD that My-wardrobe had been looking at the US market “very carefully” as it looked to expand its audience of fashion lovers.
Pets at Home buys Vets4Pets in £40m deal Tuesday, 9th April 2013
The UK’s largest pet supplies business has bought Vets4Pets in a deal worth £40 million. The move will make Pets at Home one of the largest veterinary chains in the country as it integrates Vets4Pets’ 94 practices into its 166 in-store vet business.Speaking in light of the deal, Pets at Home chief executive Nick Wood said: “The expansion of our veterinary business is a key element of our growth strategy for Pets at Home, providing additional services to our customers within our stores or close to our customers’ homes.
Darty to close loss-making Spanish operations Thursday, 4th April 2013
European electrical retailer Darty is set to close its loss-making operations in Spain as part of an on-going turnaround plan. As part of a strategy designed to help the group focus on the profitable businesses in France, Belgium and the Netherlands, Darty on Thursday said it will close its 43 stores in Spain by June at a cost of £30 million.
BCC: UK will avoid triple dip recession Tuesday, 2nd April 2013
It’s thought the UK will avoid a third period of recession, according to a survey by the British Chambers of Commerce (BCC). According to the BCC, a strong performance by Britain’s service industries in the first three months of 2013 have kept the economy growing, contrary to the economic picture being painted by official figures.
UK shopping centre investment up 194% for Q1 Tuesday, 2nd April 2013
Crowds at Trinity Leeds celebrate opening day. As Trinity Leeds enters its second full week of trading, Savills reveals the total value of shopping centre deals in the first quarter of 2013 has risen 194% year-on-year. According to the property agent, the total value of deals in the first quarter of the year was £1.43 billion, up 194 per cent on the £488 million achieved in the same period last year.
March retail sales weakest since August as snow keeps shoppers away Tuesday, 26th March 2013
British retail sales in March come in flat compared with a year ago, according to the latest report by the Confederation of British Industry. The CBI said volumes for March retail sales had fallen below average for the time of year and were weaker than anticipated, as an especially cold winter refused to shift, despite the official start of springtime.
Ted Baker profit up 16.5% as new openings boost sales Thursday, 21st March 2013
British high-end fashion brand Ted Baker revealed a 16.5 per cent rise in annual profits as new stores overseas and strong UK sales helped secure sales. Ted Baker on Thursday said profit before tax and exceptional costs for the year to 26 January stood at £31.5 million, up from £27.1 million the year before and in line with analyst forecasts.