Yesterday was a busy day for general retailers despite the lack of news coming from the grocery sector.
Dixons Carphone was boosted by Black Friday as it reported an increase in first half sales and profit (Financial Times £, The Telegraph, The Guardian, The Daily Mail), SuperGroup’s shares hit 20-month highs as investors were reassured by a first half profits rise (The Financial Times £, The Daily Mail, The Telegraph, The Times £, The Guardian) and Bonmarché shares plunge as its boss stepped down amid a warning on profits (The Telegraph, The Daily Mail)
A surprise warning from a retailer before Christmas has almost become a Christmas tradition, but the unease triggered by Bonmarché’s bad news has sent a shiver down the high street, leaving many stores bracing themselves for a “red Christmas”. (The Times £)
High street stores are cutting prices to compete for Christmas customers. There are just nine days to go until Christmas Day. It should be the busiest and most lucrative time of the year on the high street, but the discount signs are vying for attention with the festive decorations. (The Guardian)
In grocery, The Telegraph’s James Quinn looks at five ways Tesco can get back on track in the New Year. His advice includes selling off the distracting parts of the business, realising that focusing on brands will not work and working out how to manage Tesco’s sizeable estate. (The Telegraph)
Two big food companies have made extraordinary admissions about forced labour and a former top anti-trafficking official has fled Thailand in fear, he says, of his life. Nestlé acknowledged last month that its Thai seafood operations were supplied by companies that use practices commonly described as modern-day slavery. This week Thai Union, the owner of leading brands such as John West, described revelations that its Chicken of the Sea subsidiary’s supply chain also involved forced labour as “yet another wake-up call . . . to the entire industry” (The Financial Times £)
Parents are being warned to be on their guard against counterfeit toys this Christmas after tests of seized items revealed some contained harmful levels of chemicals that can cause serious long-term health problems. (The Guardian)
The Sourced Market, the artisan food and drink retailer, has passed its £750,000 crowdfunding target with five days of the campaign left. The company passed its target on crowdfunding platform Crowdcube on Wednesday morning. (The Telegraph)
A group of Labour MPs are to write to the prime minister to demand a cross-departmental investigation into the retailer Sports Direct, following revelations made by the Guardian about its treatment of employees last week. (The Guardian)
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