River Island saw lower operating profit last year even though sales rose and it blamed that familiar scenario, the “challenging” retail environment. But it also ploughed money into tech and expects to reap the rewards.
Digital companies in the EU pay in tax less than half the amount paid by traditional firms, the European Commission said in a draft report which backs plans to increase the tax bill of firms like Amazon or Facebook.
Toys “R” Us Inc will shrink its stores and revamp its bigger outlets through its bankruptcy process, which may end with the company’s return to the public markets, Chief Executive David Brandon said on Wednesday.
LVMH, the world’s largest luxury group, will invest more to improve its environmental credentials as fashion businesses seek to reassure shoppers who are increasingly drawn to eco-friendly brands, it said on Wednesday.