Primark’s trading update has raised new questions about whether the brand will ever launch online sales, but while it has mulled an online debut, it’s not a priority for now, a senior exec said after the update.
Klarna, the Swedish payments specialist has a new minority investor - rapper Snoop Dogg via his Casa Verde Capital fund. The company has also just unveiled a new marketing campaign starring the celebrity.
South African retailer Mr Price Group Ltd reported a much slower sales growth for the third quarter, as financially constrained consumers spent less on clothes during the crucial months of November and December.
Supermarket retailer Casino, which is battling investor concerns over its high debt, said revenue growth slowed down slightly in the fourth quarter as anti-government protests in France impacted sales.
Sears said on Thursday its chairman Eddie Lampert won a bankruptcy auction for the U.S. department store chain with an improved takeover bid of $5.2 billion, allowing the 126-year-old retailer to keep its doors open.
The BFC and the main group representing creative businesses in the UK have both joined the calls for a second Brexit referendum as the debacle around the UK's exit from the EU sees the country on a business cliff edge.
Primark saw higher sales in the 16 weeks to January 5, but its comp sales dipped, so it’s clear that even the strongest retailers are facing challenging times, even though it won market share and protected margins.