Month: November 2019
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Nov- 2019 -12 NovemberHigh Street
KKR makes £70bn buyout proposal for Walgreens Boots Alliance
Walgreens Boots Alliance, the parent company of high street drug store chain Boots, has reportedly received a £70bn buyout offer from private equity group KKR. According to reports the potential deal comes just three years after KKR sold its final shares in Walgreens from a previous buyout. If it were…
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12 NovemberHigh Street
B&M profits plunge by 70% due to ‘disappointing’ German partner
Discount retailer, B&M has reported a 70% drop in profits from £59.5m to £32.3m during the first half of the year attributed to increased costs at its German Jawoll fascia. For the 26-week period ending 29 September, the retailer’s group adjusted profit before-tax decreased by 2.8% to £96m in comparison…
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12 NovemberHigh Street
Retail staff ‘abused or assaulted’ over 21 times a year, says Usdaw
An average shop worker is verbally abused, threatened or assaulted more than 21 times a year, according to a new report by trade union Usdaw. It said while not all shopworkers “suffer to this extent”, some experience much higher levels of abuse, threats and violence, and interim results from Usdaw’s…
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12 NovemberComment
Why hackers or malware are not the biggest security risk for retailers
Attackers are successfully pivoting away from complex technical exploits and instead are identifying ways to exploit a business’s core functionality. These business logic attacks exploit legitimate functions like username and password login or pages to add new credit cards and changes to shipping addresses. These new attacks are significantly harder…
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12 NovemberHigh Street
Greggs raises profit forecast as sales jump 12.4%
Bakery chain Greggs has upped its profit forecast for 2019 after it reported “very strong trading” as its total sales jumped 12.4% in the six weeks to 9 November. On a like-for-like basis sales in the company’s managed shops also increased by 8.3%, up from 4% when compared with the…
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12 NovemberGovernment
Government must ‘play its part’ to support retail sector, says BRC
The incoming government must take action to fully support to the retail sector, the BRC has urged in its latest manifesto. The publication, entitled ‘A Vision for the UK Retail Industry’, calls for relief and reform of the industry as it navigates changes driven by new technology and changing consumer…
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12 NovemberClothing & Shoes
New Look losses narrow despite ‘ongoing uncertainty’ hitting sales
New Look has reported that its losses narrowed to £11.2m during its half year results despite “ongoing uncertainty” impacting sales. The fashion retailer registered the statutory loss in the 26 weeks to 28 September compared with a loss of £41.9m in the same period last year. Total revenues reached £523.8m…
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11 NovemberComment
What implications will the Royal Mail strike have on UK retailers?
Royal Mail workers have voted to strike over job insecurity and employment terms and conditions, raising concerns that there could be walkouts in the run-up to Christmas. The announcement comes as we approach the retail industry’s crucial Q4 period where Black Friday, Cyber Monday and Boxing Day sales all take…
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11 NovemberSupermarkets
Lidl eyes 230 new stores by 2023
German discount supermarket chain Lidl is set to increase its rate of expansion by opening 230 new stores in the next three years. According to the Sunday Times, Lidl’s UK chief executive Christian Hartnagel said he plans to take the company’s store state to 1000 by 2023. This would see…
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11 NovemberHigh Street
Clintons could close up to 66 stores
Greeting cards retailer, Clintons, has revealed plans to shut one in five of its UK stores, and is looking to find cheaper rent on over 200 of its shops. According to the Sunday Telegraph, Clintons is looking to close 66 of its 332 stores and also wishes for the rent…
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