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Indias home textile sector faces a 510% revenue drop this fiscal after the US imposed 50% tariffs. While frontloaded orders, limited rival capacity, and new markets offer some cushion, profitability may shrink. Crisil warns of weaker credit metrics, though optimism over IndiaUS trade talks briefly lifted textile stocks.
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Staff in Solihull, Halewood and Wolverhampton have been told not to come into work until Monday.
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The owner of the eponymous department store and Waitrose expects the business to return to profit.
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