Month: November 2019
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Nov- 2019 -7 NovemberClothing & Shoes
Weird Fish becomes first UK retailer to launch grass paper bags
Clothing retailer, Weird Fish, has become the first UK retailer to introduce eco-friendly grass paper bags throughout its stores. The introduction of the grass bags is a part of the company’s ‘The Only Way is Ethics’ sustainable policy. The grass paper bags will replace traditional single-use plastic carrier bags in…
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6 NovemberPeople Moves
Former BHS owner banned from being a director for 10 years
Former BHS director Dominic Chappell has been disqualified from running a company for 10 years. Ex-racing driver Chappell purchased BHS from Sir Phillip Green for £1 in 2015, but the chain collapsed in April 2016, resulting in over 10,000 jobs being lost. The Insolvency Service disqualified Chappell for “abusing his…
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6 NovemberHigh Street
Profits plummet at M&S as clothing sales slide
Marks and Spencer has announced a 17% drop in profits to £176.5m for the first half of the financial year, with continued slumps in clothing sales affecting the high street giant. The first six months of the financial year saw a decline of -5.5% in like-for-like clothing sales, despite the…
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6 NovemberHigh Street
2800 jobs affected as Mothercare ceases UK trading
Mothercare has announced it is to cease all trading within the UK, putting a potential 2800 jobs at risk. Operating stores will close over the coming weeks and months, with the potential loss of 2485 retail jobs and 384 head office positions. Further losses will be seen at warehouses and…
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5 NovemberHigh Street
Footfall tumbles further in October
New figures from the Retail Traffic Index show a continued slide in footfall over the month of October. The figures, published today by Ipsos Retail Performance, revealed a year-on-year fall of -6.2% in non-food store visits across the month. Footfall did, however, show improvement against the previous two months, which…
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5 NovemberPeople Moves
Hammerson appoints new non-executive director
Hammerson has announced the appointment of Méka Brunel as its new non-executive director. Brunel is currently chief executive of Gecina, a Paris-based retail estate investment trust that owns almost €20bn (£17.2bn) in office and residential assets. Her career in retail estate began in construction, where she delivered major residential and…
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5 NovemberClothing & Shoes
Primark profits top £900m in 2019
Fashion retailer Primark has reported an 8% increase in operating profits to £913m, for the year ended 14 September 2019. The fashion chain also saw a 4.2% increase in year-on-year sales to £7.79b, and Primark’s owner ABF hailed the year of “resilient performance” from the high street retailer. Despite like-for-like…
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5 NovemberPeople Moves
Topps Tiles CEO to exit
Matt Williams, group CEO of tile retailer Topps Tiles, has announced his decision to step down from the group’s board, effective 29 November 2019. Rob Parker, currently chief financial officer, will be appointed as group CEO effective from the same date. According to the retailer, to ensure a “smooth handover”…
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5 NovemberNews
Shop Direct appoints ex-Clarks president as new CFO
Shop Direct has appointed former European president of Clarks Shoes, Ben Fletcher, as its new group chief financial officer. He will commence his role on 6 January 2020 and will report to CEO Henry Birch as a member of Shop Direct’s executive board. Fletcher, who is currently a non-executive board…
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4 NovemberComment
How retail outlet destinations have evolved
Outlet shopping was born in the US in the 1930s through the development of standalone stores that enabled brands to sell-through damaged or excess goods. This evolved into the concept of a multi-store outlet shopping mall in the 1970s; a significant step for both retailers and shoppers alike. Large-scale US…
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