Year: 2019

Build-A-Bear lowers UK trading expectations due to ‘significant’ Brexit challenges

Build-A-Bear has announced it has lowered its trading expectations for the UK due to “significant” challenges posed by uncertainty around Brexit. The retailer identified the EU’s GDPR laws as some of the factors causing uncertainty in its UK business. A statement by Build-A-Bear said its “sales decline will be largely…

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AI-enabled retail – helping to level the playing field for physical retailers

The rise of ecommerce and subsequent access to a whole lot of data about online shoppers has provided retailers with new insight into customers shopping habits and behaviours and as a result, has changed the way retailers engage with their customers, both online and in store. In the past, it…

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Jack Wills drafts in advisers

Fashion retailer Jack Wills has reportedly appointed accountancy firm EY to scrutinise and advise on its financial position. According to Sky News, EY – who are led by HSBC – have been brought in to assess its finances and help negotiate revisions to its borrowing covenants. The news comes just…

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The Works upbeat after strong Christmas revenue growth

Arts and crafts retailer The Works has reported a 15% increase in revenue in its half-year trade update, with like-for-like (LFL) sales also up 3.8%. The company said it continued its sales momentum into the Christmas trading period, delivering a “record sales performance despite tough comparatives”, and achieved LFL sales…

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Consumer spending drops further in December with 1% decline

Consumer spending continued to fall in the month of December with a 1% decline, according to Visa’s UK Consumer Spending Index. The index compiled by IHS Markit, showed that overall expenditure continued to decline at the end of 2018. The 1% year-on-year reduction seen in December was the fastest seen…

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M&S store closures to affect 1,045 jobs

Marks and Spencer has confirmed 17 stores which are set to close within its plans to shutter over 100 stores to “reshape” its estate and become more relevant to customers. These closures are expected to affect 1,045 jobs and the retailer said it will enter a period of consultation with…

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The Entertainer stockpiling toys for no-deal Brexit

Toy retailer, The Entertainer has announced it is stockpiling an extra 100 containers of toys in order to prepare for a no-deal Brexit. The Entertainer’s managing director Gary Grant said the stockpiling meant that the toy retailer had sent double the usual amount of stock to the UK, to ensure…

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Three retail predictions that didn’t happen in 2018 – but might in 2019

Today, customers are fortunate enough to have a wide variety of options to choose from when shopping online. However, this means that shopping expectations – and habits – have changed. Retailers must ensure they offer a seamless shopping experience for customers, that meets buyer needs; otherwise, they risk losing out…

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Games Workshop delivers strong half-year results

Fantasy miniatures retailer Games Workshop has reported a sales increase of 14% to £125.2m in its half-year results, covering the six month period to 2 December 2018. On a constant currency basis sales were up by 13% from £109.6m to £124m, compromised of retail £42.3m (2017: £39.6m), trade £60.7m (2017:…

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Boohoo raises revenue forecasts amid sales surge

Online fashion retailer Boohoo has raised its revenue guidance for the year after group sales surged 44% to £328.2m in the four months to 31 December. The group, which also operates brands such as PrettyLittleThing and Nasty Gal, experienced a 33% increase in UK sales to £180m up from £135.7m…

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