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Today’s news in brief-9/7/24

Amazon’s Coventry warehouse is at the centre of a groundbreaking union recognition ballot involving over 3,000 workers. If successful, this vote, set to conclude on July 13th with results expected by July 15th, could compel Amazon to negotiate with GMB Union on pay and working conditions. Concurrently, rallies are planned nationwide to support Amazon workers’ demands for fair treatment and safer working environments.

Consumer spending in June experienced a setback due to unseasonably cold weather, impacting retail sales. The British Retail Consortium reported a 0.2% year-on-year decline in total retail sales, with non-food sectors like clothing and DIY seeing significant drops. Despite online sales showing resilience, retailers are hopeful for a rebound as summer progresses and social activities increase.

Naked Wines announced CFO James Crawford’s upcoming departure following the finalisation of a new credit facility aimed at bolstering the company’s financial position. Crawford, instrumental in securing this deal, will oversee the transition before leaving in the autumn. The $60m credit facility with PNC Bank replaces their previous arrangement, enhancing liquidity and operational capabilities.

Majestic Wine revealed it is looking at 125 new store locations across the UK and Channel Islands, signalling a robust growth strategy. With a focus on experiential retail, including smaller format stores in urban areas, the retailer aims to capitalise on increasing consumer interest in specialty wines and spirits.

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Ocado announced plans to construct a third Customer Fulfilment Centre (CFC) in Japan as part of its collaboration with Aeon. This expansion aims to bolster Aeon’s online grocery delivery capabilities, leveraging Ocado’s advanced technology to optimise operations and improve efficiency. Scheduled for completion in 2027, the new CFC underscores Ocado’s commitment to expanding its footprint in the Japanese market.

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