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Peter Cowgill, executive chairman, said "JD's continued strength in its core markets is increasingly being complemented by momentum in our international development, with a net increase of 54 JD stores across mainland Europe during the year." Like-for-like sales, which strip out the impact of new stores opening, grew 10% over the year. The company has 900 outlets in the UK. The group opened 54 stores across Europe last year and opened a further two stores in Malaysia. The first JD store in Australia is due to open shortly. "Whilst we must recognise that there are external influences which may impact the latter part of the year, notably inflationary pressures arising from Brexit, the board remains confident in the robustness of the JD proposition and believes that the group is well positioned for further profitable growth," said Mr Cowgill. Jonathan Pritchard, retail analyst at Peel Hunt, said "Whilst the trainer trend tailwind has been off the Beaufort scale, JD has sailed it skilfully. Both sports fashion and outdoor exceeded expectations." JD's share price rose 4.2% after the bumper results were published. 'Unbalanced view' It has not all been plain sailing for the brand in 2016, however. A Channel 4 undercover investigation in December quoted workers saying conditions at its Kingsway distribution centre in Rochdale were "worse than a prison". JD Sports denied allegations that it operated a "three strikes" policy before dismissing workers over minor misdemeanours such as being caught with a cigarette lighter or using mobile phones, and that workers were being underpaid.
Customer Support Advertising Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Customer Support Luxury Emergency? Now You Can Get Gucci Delivered in 90 Minutes by Farfetch launches on-line, in-store tech for luxury brands Smart display wracks, mirrors and holographic shoes featured Thanks to a partnership with London-based fashion technology company Farfetch , you can soon get Gucci clothing and accessories whisked to your door within 90 minutes. Farfetch announced the partnership Wednesday, as the company showcases what its calling "The Store of the Future" -- software and devices that aim to help luxury brands gather more information on customers in stores and online. Customers will be able to shop for select items of Kering -owned Gucci goods via Farfetchs app and website, and have those orders fulfilled within 90 minutes from Gucci stores in London, New York, Dubai, Los Angeles, Madrid, Miami, Milan, Paris, Sao Paulo and Tokyo. The Gucci collaboration with Farfetch comes as competition heats up in online luxury. In a call with investors Tuesday, LVMHs chief financial officer Jean-Jacques Guiony said the worlds largest luxury group would be the latest to ramp up multi-brand e-commerce, considering a new site for its luxury department store Le Bon Marche. "Retailers need a way to collect information about their customers while they are browsing in-store, just as they collect data from online searches," Jose Neves, Farfetchs founder and chief executive officer, said in a statement. Founded in 2008 as an e-commerce platform for luxury boutiques, Farfetch has increasingly positioned itself as a technology provider working directly with high-end brands. In March, it launched the e-commerce portal for high-end shoe designer Manolo Blahnik, pushing into a space where competitor Yoox Net-A-Porter Group SpA has been a leader, operating white-label websites for brands including Armani . Among the in-store technologies Farfetch is showcasing is a scanner that will enable customers to "log-in" with a smartphone when they enter a store, allowing a sales assistant to view the customers profile, including what items they may have bought previously or saved to a wish list in the brands online store. Exclusive insights on technology around the world. Get Fully Charged, from Bloomberg Technology.
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Toshiba's president, Satoshi Tsunakawa, apologised for the problems facing the firm and called the auditor's decision not to approve the financial report as "truly regrettable". He said he hoped the company would not be delisted. Nuclear woes Toshiba, originally known for its consumer electronics products, has faced a series of difficulties. An accounting scandal, uncovered in 2015, led to the resignation of several members of the firm's senior management, including the chief executive, after the company was found to have inflated the previous seven years' profits by $1.2bn. Its problems came to a head again in January this year, when it became clear its US nuclear unit, Westinghouse, was in financial trouble. Westinghouse was put into Chapter 11 bankruptcy in March, which protects it from creditors while it undergoes restructuring. Media playback is unsupported on your device Media captionWhy is Toshiba on the ropes? This week, Taiwanese electronics manufacturer Foxconn was reported to be willing to pay up to $27bn (21.7bn) for Toshiba's computer chip business, a move which could help shore up the losses if it went ahead. But that has not been enough to resolve Toshiba's difficulties. The firm's auditors, PriceWaterhouseCooper Aarata, have refused to sign off the company's accounts, resulting in their publication being delayed twice.