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Adidas has increased its full year outlook after revenues in its second quarter grew by 51% to €5.077 billion. The company said the uplift was driven by increases in all market segments except Greater China. Revenues in Latin America more than tripled during the quarter while sales in Asia-Pacific grew by...

Asda has announced that its chief executive Roger Burnley has stepped down from the business following completion of a transition period under the new ownership of the Issa brothers’ EG Group. The move means that Burnley is leaving Asda earlier than planned as back in March the company said he had...

The John Lewis Partnership is to increase annual salaries for LGV drivers by up to £5,000 a year as it responds to the national driver shortage. From Sunday 8 August, LGV drivers employed by John Lewis and Waitrose will receive a pay rise of around £2 an hour in their base...

Marks & Spencer is aiming to recruit 70 software engineers over the next year to help boost its digital capabilities and drive its transformation. The retailer has also launched a new bespoke careers page on its website called ‘M&OS’ to help attract the best candidates within the tech sector. In a statement,...

Uniqlo is to open its first flagship store in Beijing this November. The shop will be the Japanese clothing retailer’s third flagship store in mainland China. Situated in the fashionable Sanlitun shopping district, the store will have a sales area of approximately 2,200 square metres across three floors and will sell a...

Zalando, the online platform for fashion and lifestyle, grew its gross merchandise volume by 40% to €3.8 billion in its second quarter following strong online sales. In addition, the company achieved an adjusted EBIT of €184.1 million and a margin of 6.7%. In a statement, the company said more than 10...

Frasers Group has confirmed that Mike Ashley is to step down as chief executive in its new financial year and hand the reins to Michael Murray who is currently “head of elevation”. In a statement, the owner of brands such as Sports Direct, House of Fraser and Flannels, said it is...

New figures have shown that retail footfall declined month-on-month in July despite a rise generated between the second and third week of the month when Covid-19 restrictions were lifted. The data from retail specialist Springboard reveals that footfall worsened over the month as a whole to -24.2% in July from -22.2%...

New Look has revealed that its first quarter revenue climbed by 181.7% to £194.4 million from the corresponding period in the previous year after lower footfall was offset by improved sales conversion rates. During the quarter ending 26 June, ecommerce sales rose by 3.8% compared to the first quarter in 2020...

Wolverine Worldwide has acquired the Sweaty Betty fitness and lifestyle brand in a $410 million deal. Founded in 1998 by Tamara and Simon Hill-Norton, Sweaty Betty is known for its on-trend tops, bottoms, swimwear, outerwear and accessories. With its products distributed around the world, over 80% of the brand’s revenue comes...