Year: 2019

Retail job losses to increase by 27,000, analysis suggests

Online retailers are having a “profound effect” on the commercial property market as the value in retail property is set to fall by 15.9% this year, new research has predicted. Furthermore, job losses and store closures have been forecasted to increase by 26,918 and 3,764 respectively compared with 2018 across…

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Fall of the high street — can retailers survive?

The UK’s high streets are under attack. From the continued rise of online shopping, which has led to a reduction in footfall, to increases in business rates and the Living Wage, Britain’s retailers are struggling. The decline of the British high street has dominated the headlines in 2018 with in…

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Moodys lowers Debenhams and New Look ratings

Financial services firm Moodys has changed the outlook for both New Look and Debenhams from stable to negative amid both retailer’s current financial troubles. Debenhams posted a poor Christmas trading update and is currently holding discussions to refinance its £320m revolving credit facility. The department store reported a 3.4% drop…

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John Lewis & Partners announce management shake-up

John Lewis & Partners has announced that Dino Rocos, partner and operations director, will retire at the end of May 2019 after 43 years with the business, According to the group, from the end of January until he retires Rocos will report directly to Patrick Lewis, group finance director for…

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New Look’s Belgium outfit files for insolvency

The board of New Look Retail Group has announced its Belgium arm (NLB) has filed for insolvency following a review of its financial and trading position. NLB, which currently operates six stores in Belgium, said its board concluded it is “unable to continue trading”, and has decided to therefore wind…

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StubHub reprimanded over rescheduling refunds

Online ticket retailer, StubHub has been reprimanded by the Advertising Standards Authority (ASA), after it had advertised that “every order is 100% guaranteed” with its ‘FanProtect’ scheme, however the ASA found that “refunds did not apply to rescheduled events”. The issue was raised when a complainant challenged whether the fact…

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What steps should brands take to ensure their online presence is optimised?

Online retail sales are growing and are estimated to be in the region of 8.8% of total retail spending globally, equivalent to around $2.5trn. The UK already tops the list of countries with retail e-commerce sales as a percentage of total retail sales, with 18%. So, given that we live…

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Game reports Christmas sales growth amid ‘challenging trading climate’

Video game retailer Game has reported a 2% increase in life-for-like sales (LFL) for the seven week Christmas trading period ending 5 January 2019. LFL sales in the UK also increased by 1.1% for the 23 weeks to 5 January, and remained broadly flat over the Christmas period at -0.3%.…

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Primark store expansion boosts festive sales

Fashion retailer Primark recorded a 4% increase in sales over the festive period buoyed by the continued expansion of store space. In a trading update for the 16 weeks ending 5 January 2019, its parent company Associated British Foods (AB Foods) said sales growth was driven by increased retail selling…

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Smartphone shopping to reach record usage in 2019

In 2019, and for the first time ever, consumers will be as likely to shop on their smartphones as they would a laptop or desktop, according to research by price comparison and switching service, uSwitch.com. Shoppers plan to spend £25bn using their smartphones this year, a £10bn rise on 2018.…

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