Retailers
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Sep- 2019 -13 September
A&B Pawnbrokers and Herbert Brown shutters UK stores
Albemarle & Bond Pawnbrokers (A&B Pawnbrokers) and Herbert Brown have shuttered stores across the country, in a sudden move that has left customers in the dark over the whereabouts of items pawned with the businesses. In a statement on its website, the pawnbrokers apologised for “any inconvenience that may be…
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11 September
Labour pledges £10 minimum wage for all workers over 16
Jeremy Corbyn has pledged a £10 an hour minimum wage for all workers over 16 if his party is elected to government. In a speech delivered to the Trades Union Congress (TUC) in Brighton, Corbyn said Labour would also deliver action on the gender pay gap, equal rights for all…
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10 September
Q&A: Michael Aldridge on the CMJ’s latest accounts
The Company of Master Jewellers has undergone some key changes in the last couple of years, refocusing the business on its core purpose – a buying group for independent high street jewellers. Michael Northcott caught up with chairman Michael Aldridge in the wake the the CMJ’s new accounts being published…
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Aug- 2019 -27 August
FF Group searching for Links of London buyer
Links of London owner Folli-Follie Group (FF Group) has confirmed that it has appointed firms Deloitte and Savigny to the potential sale of the retailer. Last week Sky News reported that the group had been looking for a new owner, with sources telling the broadcaster it was “almost inevitable” a…
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21 August
CMJ revenue plummets 41% but profit returns
The Company of Master Jewellers’ revenues have fallen by 42% according to its latest accounts, published on Companies House this morning. Turnover for the business fell from £4.16m to £2.42m in the 12 months ending 31 March 2019 compared with the previous year, and “sales value of goods purchased by…
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20 August
EC One becomes B-Corp certified
London based jewellery boutique EC One has become the second jeweller in the UK to become B-Corporation Certified. The accreditation process to become a B-Corp involves an in-depth analysis of the business’ entire social and environmental performance, to assess its impact on its workers, community, environment and customers. Other well-known…
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14 August
Over 50 retailers sign letter demanding business rates fix
Over fifty major retailers have come together to demand the government takes action to fix the “broken” business rates system. In a letter to the new chancellor, Sajid Javid, retailers have called on the government to put business rates “at the heart” of the promised new economic package. The letter,…
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14 August
Watches of Switzerland revenues jump 17.8% in Q1
Watches of Switzerland has reported a 17.6% increase in total revenue to £209.4m for the three months to 28 July 2019. The group also saw “strong” like-for-like growth of 10.8% during the period, with sales increasing by 11.5% and 8.7% in the UK and US respectively. During the last three…
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9 August
Mixed footfall performance in July
Footfall figures decline by 3.8% in July, compared with the same period last year, according to the latest Retail Traffic Index. This was only a small improvement on the 3.9% deficit recorded in June. Footfall did however see an increase of 3.4% in July compared with June’s footfall figures. Stores…
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Jul- 2019 -25 July
Retail employment falls 2.3%, 14th consecutive quarter of decline
Retail employment has fallen by 2.3% during the three-month period ending 30 June, marking the 14th consecutive month of decline. According to the figures from the BRC, the decline is equivalent to around 72,000 more jobs lost than compared to the same period last year. Full-time employment also saw a…
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