Year: 2019
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Jan- 2019 -24 JanuaryComment
Three common factors among retail survivors
It is hard to remember a time when analysts were not being harbingers of doom for the British high street. 2018 saw Toys R Us and Maplin disappear while House of Fraser, Claire’s and Superdry are three of many retailers who have announced profit warnings or store closure. Why are…
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24 JanuaryPeople Moves
Around 70,000 retail jobs lost in Q4, report finds
The total number of employees working in retail was down 2.2%, equivalent to around 70,000 jobs, on Q4 2017 an industry report has found. The British Retail Consortium’s (BRC) Retail Employment Monitor also found that reductions in hours similar for full-time and part-time contracts as total hours fell by 2.8%.…
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24 JanuaryEconomy
Retail spending bounces back in December despite ‘tough’ festive period
Retail spending bounced back in the UK in December 2018 after a tough November as GlobalData’s total retail index rose by 11.5 points versus the previous month. The company’s latest report ‘UK Monthly Spend Tracker – December’ revealed that despite improved spending in the month, many retailers started their sales…
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24 JanuaryDepartment Stores
John Lewis to close Knight & Lee in Southsea; 127 jobs at risk
John Lewis & Partners has announced it will close its Knight & Lee store in Southsea in July 2019, putting all 127 staff at risk of redundancy. According to the group, the decision to close the property has been “driven by a number of factors”, including the physical condition, size,…
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23 JanuarySupermarkets
Carl Rogberg becomes third ex-Tesco executive cleared of fraud
Former Tesco executive, Carl Rogberg, has been cleared of £250m fraud and false accounting charges, which sent the supermarket into financial crisis. Rogberg, the former finance director at Tesco, was cleared at Southwark Crown Court this morning (23 January) of the charges which wiped £15bn off of Tesco’s share price…
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23 JanuaryOnline & Digital
December online retail sales growth hits ‘all-time low’
UK online retail sales growth hit an “all-time low” of just +3.6% year-on-year (YoY) in December 2018 after a tough Christmas trading period, according to the Capgemini IMRG eRetail Sales Index. According to the group, after online retail “defied” the downturn on the high street to record +16% (YoY) growth…
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23 JanuaryDepartment Stores
Sports Direct saves House of Fraser Intu stores
Four House of Fraser stores in Intu shopping centres have been saved from closure, avoiding the loss of more than 1,000 jobs. The Lakeside, Metrocentre, Norwich, and Nottingham stores were at risk of closing after Sports Direct was unable to reach an agreement with Intu Properties landlords. In November, Sports…
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23 JanuaryAdvice
How retailers can maximise profits and survive in 2019
It is no secret that the past year has been a challenging time for UK retail. Declining profits, closing shops and changing consumer behavior has contributed to the worst year in retail since the global recession a decade ago. Retailers such as Toys R Us, Maplin, New Look, Mothercare, and…
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23 JanuaryLuxury Goods
Hotel Chocolat posts 15% festive retail revenue rise
Hotel Chocolat has announced it has seen strong festive retail figures, amid a disappointing period for many on the high street. The luxury chocolatier said it had seen a 15% revenue rise year-on-year over the 13 weeks to 30 December. Despite Hotel Chocolat’s positive figures, British consumers cut back on…
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23 JanuaryClothing & Shoes
Burberry like-for-like sales marginally up over December
Luxury fashion house Burberry has announced a marginal like-for-like sales increase over December as it “continued to build brand heat” around its new creative direction. Burberry said that same store sales increase by 1% during the 13 weeks ending 29 December. This is despite total retail revenues having dropped by…
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