Year: 2019
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Oct- 2019 -4 OctoberDepartment Stores
John Lewis plans to cut service charge payments to landlords
John Lewis is seeking service charge discounts from some of its landlords to help reduce costs during the upcoming golden quarter. According to the BBC, the department store chain has been telling landlords in certain areas it has decided to reduce its payment for non-rent items, such as heating, cleaning…
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3 OctoberPeople Moves
Burberry appoints new chief supply chain officer
Fashion retailer Burberry has announced that Jerome Le Bleis has been appointed chief supply chain officer, effective 1 January 2020. Le Bleis will join Burberry from Lacoste in Paris, where he is currently executive vice president of group operations. He has previously held senior positions at Carrefour and Nestle and…
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3 OctoberClothing & Shoes
H&M Q3 profits spike 25%
H&M has reported a 25% spike in net profits during Q3, which it attributed to “continued development of more full-price sales and reduced markdowns”. In the three month period ending 31 August, the Swedish clothing retailer said profit before tax increased to SEK 5bn (£410m), ahead of analysts expectations of…
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3 OctoberHigh Street
Ted Baker profits nosedive 194% in half-year results
Shares at men’s fashion retailer Ted Baker plunged by as much as 35% in early trading today (3 October) after it reported a 193.9% fall in half-year profits, marking a loss of £23m. The decrease in profits for the 28 week period ending 10 August 2019 was largely due to…
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2 OctoberComment
5G will transform the retail experience
We’ve all heard about the rollout of the 5G mobile network and what it will mean for us as consumers, like almost instantaneous download speeds and ultra-reliable network connectivity. For businesses, the potential of 5G opens doors to revolutionary changes that will transform British industries. According to research, 5G could…
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2 OctoberHigh Street
Shop prices fall by 0.6%, fastest rate since May 2018
Shop prices in September have fallen at the fastest since May 2018, according to the latest figures from the BRC-Nielsen Shop Price Index. The index found September shop prices fell by 0.6% compared with a 0.4% decrease in August. This is the highest rate of decline since May 2018. Non-Food…
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2 OctoberPeople Moves
Tesco CEO Dave Lewis to step down next year
Tesco has announced its group CEO Dave Lewis is to step down from his role next year after five years at the supermarket giant. He will be replaced by Ken Murphy who has held a number of senior roles at Walgreens Boots Alliance, most recently as chief commercial officer. Lewis…
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1 OctoberHigh Street
John Lewis announces wave of senior job cuts
The John Lewis Partnership has announced a wave of senior job cuts as part of a new plan that will see both John Lewis and Waitrose managed and operated as a single business. It is anticipated that there will be a reduction of around 75 senior management head office roles…
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1 OctoberPeople Moves
Sainsbury’s Argos CEO to exit
The CEO of Sainsbury’s Argos, John Rogers, has announced he is leaving the business to become the CFO of advertising and public relations company WPP. Rogers will leave the business on 31 October 2019 with Argos’s retail and logistics teams reporting to Simon Roberts, its retail and operations director. Argos’s…
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1 OctoberAdvice
From clicks-to-bricks
2019 continues to be an extremely turbulent time for the retail sector. Barely a week goes by when we don’t hear of yet another, long-standing and well-established high street retailer beginning to crumble as it struggles to keep up with a number of online rivals. In fact, new figures released…
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