VAT may be applied to groceries
Shoppers could face paying VAT on items which are currently exempt including groceries, books, newspapers and children’s clothes, as officials consider introducing the tax as a means to reduce the national deficit.
John Lewis bonus expected to be 14%
Staff at John Lewis and Waitrose are expected to receive a bonus equalling 14% of their annual salary, as the retail group reveals strong full year results.
Morrisons expected to report 16% profit
Morrisons is expected to report 16% increase in full-year profits this week. The supermarket is also thought to be developing a retention package for finance director Richard Pennycook in a move to keep him on board.
From The Telegraph
Cath Kidston to sell stake
Cath Kidston is in talks to sell part of her stake in her retail business to American buyout firm TA Associates in a deal that values the business at £100m.
N Brown to launch menswear brand
N Brown, the online and catalogue retailer, is launching a menswear brand called Williams & Brown which will include professional and casual wear, for men aged 45 to 60.
Tesco beaten by eco-store
A small town in Norfolk that has battled against Tesco arriving in its neighbourhood for 14 years has opted for a local eco-store run by Waitrose instead.
From The Times
Asda shoppers to enjoy 100-day returns
Asda is introducing a 100-day returns policy for its George clothing brand in a move that rivals Marks & Spencer’s generous returns policy.
From The Guardian