John Lewis: The John Lewis Partnership is taking into consideration another wave of store closures as section of value-slicing steps, The Sunday Times experiences.
Up to 8 shops could close below strategies staying thought of by chairman Dame Sharon White, the newspaper said. The retailer’s oldest and largest shops are imagined to be the most at risk. In some instances, John Lewis could close shops but relocate to a lesser device close by.
John Lewis shut 8 shops last July, which includes its Birmingham flagship at the city’s Bullring and Grand Central buying centre.
An announcement on doable more store closures is expected in advance of or together with John Lewis’s financial outcomes on 11 March.
John Lewis declined to remark.
Asda: The new proprietors of grocery store Asda are taking into consideration marketing off the George outfits brand name, The Times experiences. The billionaire Issa brothers bought Asda in Oct but are reportedly eager to license the brand name or introduce additional trend partnerships to Asda.
Asda declined to remark.
Marks & Spencer: M&S boss Steve Rowe has termed on chancellor Rishi Sunak to use an expected increase in company tax to overhaul the business charges procedure and assistance the significant street, This Is Funds experiences. Rowe said the “seismic upheaval” brought about by the pandemic would guide to thousands additional misplaced careers except the “unbearable yoke” of business charges is slashed.
Sunak is expected to announce a increase in company tax at the Spending plan on three March.