Business

Frasers Group calls business rates relief ‘near worthless’, mulls store closures

Mike Ashley’s Frasers Group has described the business relief package announced earlier this week by the government as “near worthless” support for bigger businesses. Chancellor Rishi Sunak announced Wednesday the 100 percent business rates holiday would be extended until June, after which a discounted of two thirds will be available for the...

5 Mar 2021

Business

US to suspend retaliatory tariffs on UK luxury for four months

A joint announcement from the new US administration and the UK Government on Thursday said the US will suspend retaliatory tariffs on British luxury for four months. This will temporarily halt the 25 percent tax hike on items like cashmere, wool, tailoring, bed linen and single-malt whisky. Walpole, the UK trade body representing British luxury...

5 Mar 2021

Business

Gap posts sales decline in Q4, expects recovery in 2021

Gap’s diluted earnings per share were 61 cents for the fourth quarter of fiscal year 2020. The company said, net sales were 4.4 billion dollars, a decrease of 5 percent compared with last year, while online sales grew 49 percent compared with last year and represented 46 percent of net sales in the fourth quarter, which was an increase of over...

5 Mar 2021

People

Amazon Fashion names president

Amazon Fashion has reportedly named Muge Erdirik Dogan as its new president. Dogan takes over from Christine Beauchamp, who has been promoted to Amazon’s head of consumer categories in North America, WWD reports. Dogan has not made a statement on what her plans for Amazon are, but she is a longtime Amazon insider, having worked at the company...

4 Mar 2021

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