Year: 2019
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Oct- 2019 -29 OctoberEconomy
Retailers report ‘record high’ stock levels in October
Retailers’ stock levels in relation to expected sales were at their highest on record in October, according to the latest monthly CBI Distributive Trends Survey. The news comes against the backdrop of a continuing decline in sales on the high street, and the latest spike in stock adequacy (the highest…
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29 OctoberEconomy
Sosander shares jump as revenues surge 53%
Shares in Sosander PLC jumped 12 % in early trading on Monday (28 October) as the retailer reported a strong first-half revenue growth of 53%. For the half-year period ending 30 September 2019, Sosander posted an 84% increase in sales during its second quarter and 112% increase in September alone.…
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28 OctoberHigh Street
Mothercare appoints KPMG as advisers
Mothercare has appointed ‘Big Four’ accountancy firm KPMG as advisers to help assess its options for its embattled retail business. According to the Times, the decision comes as its chief executive Mark Newton-Jones has previously outlined plans to shift the UK side of the business into an independent franchise model,…
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28 OctoberHigh Street
Arcadia to move Topshop logistics to Daventry warehouse
Sir Phillip Green is allegedly moving Topshop and Topman’s logistics to Daventey distribution centre Arcadia announced over the summer that Topman was already being fulfilled from the new Daventry distribution centre, with plans to make Topshop live from the site in early 2020 Earlier this year, Arcadia opened a new…
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28 OctoberHigh Street
Forever 21 to shutter all UK stores next year
Fashion retailer Forever 21 has confirmed it will close its three UK stores in London, Liverpool and Birmingham next year. It comes after the parent company in the US filed for Chapter 11 bankruptcy, and Damian Webb and Allan Kelly of RSM Restructuring Advisory LLP were appointed as joint administrators…
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25 OctoberTechnology
Robots could take half a million UK retail jobs within the next five years
UK retail is set to lose over half a million jobs to robots, according to the 2019 Harvey Nash/KPMG CIO Survey. According to the study, the move towards automating the retail sector is being “driven from the top”, with almost half (44%) of IT leaders reporting that using automation to…
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25 OctoberPeople Moves
Gant CEO to return to Adidas as executive board member
Sports fashion retailer Adidas has appointed Brian Grevy as an executive board member, responsible for global brands. Grevy returns to adidas from global clothing brand Gant, where he has held the position of CEO since June 2018 and was chief marketing officer from 2016 to 2018. At Adidas, Grevy led…
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25 OctoberAdvice
How retail businesses can reduce electrical consumption
Energy remains one of the largest in-store operating costs for UK retailers; and with electricity prices in particular continuing to rise, an increasing focus on decarbonisation and expectations for businesses to be more environmentally responsible, pressure is more intense than ever for the sector to meet these challenges head on.…
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25 October
Amazon Q3 profits fall 25% amid rising shipping costs
Online retail giant Amazon has reported a 25% fall in Q3 net income to $2.1bn (£1.6bn) despite a 24% increase in sales to $70bn (£54.5bn), as rising shipping costs dented its bottom line. For the three month period ending 30 September Amazon said its shipping costs surged 46% to $10bn…
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25 OctoberPeople Moves
Topshop appoints ex-M&S buying director as fashion head
Topshop has appointed former Marks and Spencer buying director, Gillian Ridley Whittle, as its new fashion director. Whittle began her career at Debenhams as head of buyer in 2000, where she moved on to Marks and Spencer after four years, where she began her role as head of buying of…
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