Jobs ads rise defies EU fear

SAINSBURY’S SUITS UP

Sainsbury’s wants to go to head-to-head with the UK’s top fashion retailers by offering smart suits and woollen jackets. The supermarket chain said it would challenge Ted Baker and Reiss with the launch of Tu Formal and Tu Premium. They feature UK-sourced fabrics including two wool three-piece suits costing £160 and a camel Crombie coat for £60. Sainsbury’s said menswear is its fastest growing clothing category rising 13% in the last 12 months. “The new clothes are a cut above typical supermarket ranges,” said commercial director James Brown. Car dealership group Pendragon has blamed stalling consumer confidence for a profit slowdown. The group, which is behind the Evans Halshaw brand, expects annual profits to be £60million, down from £75.4m last year.

Pendragon said “waning” consumer confidence had led to falling demand for new cars and it expects this to continue into the first half of 2018. Chief executive Trevor Finn said it was committed to reshaping the business.

This includes launching a review of its premium car marques such as BMW and Porsche to evaluate the “investment appeal of their franchise proposition”. Pendragon said its margins were being hit by some makers trying to “force vehicles” into the market despite weak demand. TAKING OFF Lighter Docs have helped boost profits Dr Martens claims reducing the weight of its iconic boots has helped it stride to bigger profits. The British firm, whose fans include David Beckham and Pharrell Williams, revealed annual sales have climbed 25% to £290.6million. Profit rose 27% to £37.5m boosted by soaring demand from Japan and South Korea. Also, it was helped by opening 18 new stores – taking its worldwide total to 71 – and e-commerce growth. Dr Martens’ best-selling boot was still the original eight-eyed 1460 Black Smooth, but its new Lite range – with recently introduced sole technology reducing weight by around a third – is also in vogue. Chairman Paul Mason, in charge since chief Steve Murray quit earlier this year, said: “Despite a challenging retail environment, we have delivered double digit growth across all areas of the business.” The firm is now eyeing up increasing global expansion.