First Quench to shed more jobs and stores

The administrators of First Quench, owners of Threshers and Wine Rack chains, said it would cut almost 1,900 jobs and close hundreds more stores

• British drinkers console SABMiller
• Fullers highlights sector split

US retailers turn to power of the app

Leading US retailers are this year expanding their Christmas sales drive by targeting smartphone users through the new generation of mobile devices such as the Apple iPhone, the Palm Pre and BlackBerry’s Storm

Gap boosted by strong Old Navy sales

Gap signalled its intention to start winning back some of the market share it has given up over the past five years, as the largest US speciality clothing retailer reported strong quarterly earnings boosted by sales at its low-price Old Navy chain.

Matalan draws buy-out groups

Five heavyweight private equity groups are among the first-round bidders for the privately owned discount clothing retailer

Staycationers boost Halfords

Recession-hit ‘staycationers’ and the rising trend for cycling boost first-half sales at the UK’s biggest retailer of car accessories and bikes,which reported double-digit profit growth

Morrisons begins search for new chief executive

Wm Morrison chief executive Marc Bolland breaks his silence on his decision to jump ship to M&S as the Bradford-based supermarket chain reported a slowdown in sales growth

Sears reports slimmer quarterly loss

Sears, the third-largest US retailer, reported a slimmer third-quarter loss as its Kmart stores saw an increase in sales due to greater demand for toys

‘Billion dollar man’ to take helm at M&S

Dutch-born chief executive of Wm Morrison will replace Sir Stuart Rose, the group’s executive chairman, in the new year at a time and on terms to be confirmed