Year: 2019

Laura Ashley issues fresh profit warning amid sales slump

Fashion and homeware retailer Laura Ashley has said its performance for the 2018 will “fall short of market expectations”, after posting an 8.7% sales slump for the 26 weeks to 31 December. The group announced that it broke-even in profit before tax and exceptional items for the last six months…

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Footasylum removes ‘stab-proof vest’ from stores

Footwear retailer, Footasylum has removed a “stab-proof vest” from its shelves after a youth worker suggested it could attract unwanted attention. Damian Henry, who works with young people involved in gangs or who have been involved in gangs, told the BBC he was “appalled” when he saw the item in…

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UK and Ireland retailers warn of no-deal tariffs

With just 36 days until the UK leaves the EU the leading retail bodies in Ireland, Northern Ireland and the United Kingdom have said a no-deal Brexit could have “devastating consequences”. The British Retail Consortium (BRC), Northern Ireland Retail Consortium (NIRC) and Retail Ireland have issued a joint statement highlighting…

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MPs call for business rates reform to save high street

The housing, communities and local government committee has said “dated policies” and an “unfair tax regime” needed reforming to allow high streets and town centres to flourish in its report into the future of the UK high street. The report highlighted the disparity between taxes paid by bricks-and-mortar retailers and…

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F Hinds to save Chapelle stores

Family owned retailer F Hinds, which has 116 stores across England & Wales, has reached an agreement to take on 12 Chapelle stores in top outlet centres. Chapelle was founded in 1979 by Paul and Margaret Mortimer as a retail business that offered discounted watches and jewellery. It trades in…

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Shopping for software ahead of Making Tax Digital

The Making Tax Digital (MTD) initiative is designed to be a cost and time saving exercise both for the Exchequer and the small businesses that must comply. Almost three million businesses will be affected by MTD when it comes into effect in April 2019, and it offers a real opportunity…

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Retailers ‘trying to water down’ bottle deposit scheme

Environmental groups have accused retailers of trying to ignore calls for a catch-all deposit of more than 15p on plastic drinks containers. The deposit scheme is currently being discussed by ministers who are trying to decide which bottle sizes would be included in the plans. Environmentalists say both large and…

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Asda reports seventh consecutive quarter of sales growth

Asda has reported a 1% increase in like-for-like sales for the three months to the end of December, its seventh consecutive quarter of growth in this area. However, growth was slower when compared with the 2% increase the ‘Big Four’ grocer experience in the three months prior. Commenting on Asda’s…

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Sainsbury’s-Asda merger at risk over ‘extensive competition concerns’

The Competitions and Market Authority (CMA) said it has provisionally found “extensive competition concerns” as part of its in-depth investigation of the proposed merger between Sainsbury’s and Asda. Shares in Sainsburys dropped by 12.89% in early trading this morning (20 February), after the CMA said the proposed deal could lead…

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Footfall drops at Intu shopping centres

Footfall at Intu shopping centres have seen a 1.6% decrease according to the group’s full year results for 2018. However, the company said it demonstrated a “resilient operational performance” despite a “challenging environment” as it claimed to outperform the national ShopperTrak retail average of a 3.5% decline in footfall. Intu’s…

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