Year: 2019
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Sep- 2019 -12 SeptemberHigh Street
91% of Sports Direct shareholders re-elect Mike Ashley
Over 90% of Sports Direct’s shareholders have voted in favour of founder Mike Ashley’s re-election as a director of the company. A statement from the group’s AGM on Wednesday (11 September) said that 90.99% of votes cast were in favour of re-electing Ashley, with just over 9% voting against it. …
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12 SeptemberAdvice
Digital commerce and ‘the Goldilocks effect’
This is the single greatest barrier to digital commerce success for businesses and retailers alike. Take Black Friday as an example – there are so many moving components involved in launching a promotion on the biggest shopping day of the calendar year. All of these have to be stacked up…
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12 SeptemberDepartment Stores
John Lewis warns of no-deal Brexit amid £26m loss
John Lewis Partnership has reported a loss of £25.9m for the first half of the year, warning that a no-deal Brexit may lead to “significant” impact it may not be able to mitigate. For the half-year period ending 27 July 2019, the department store chain revealed that revenues slipped by…
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12 SeptemberSupermarkets
Morrisons quarterly sales drop for first time since 2016
‘Big Four’ grocer Morrisons has reported a 1.9% drop in like-for-like sales in its Q2 results, compared with the 6.3% increase seen the previous year. For the six months ending 4 August 2019, group like-for-like sales increased by a marginal 0.2%, compared with 4.9% last year, and total revenue grew…
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12 SeptemberHigh Street
Co-op profits dropped by almost 50% in H1
The Co-operative Group saw profits drop by almost 50% in the six months to July, as the firm’s funerals business took a hit from an “unexpected” drop in the number of deaths. Profit before tax reduced to £25m for the period, compared with £44m for the same period last year.…
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11 SeptemberHigh Street
Labour pledges £10 minimum wage for all workers over 16
Jeremey Corbyn has pledged a £10 an hour minimum wage for all workers over 16 if his party is elected to government. In a speech delivered to the Trades Union Congress (TUC) in Brighton, Corbyn said Labour would also deliver action on the gender pay gap, equal rights for all…
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11 SeptemberAdvice
Time is critical: Getting ‘retail fast’ right
Stories of store closures seem to be near constant, and calls for “the death of retail” or “the end of the high-street” seem to happen every day. At the same time, a new wave of retailers – often with their roots in e-commerce – are investing in physical presence as…
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11 SeptemberHigh Street
Most valuable UK retailers ‘falling behind’ global rivals, study finds
The value growth of the UK’s top retail brands is “falling behind” that of the leading global retail brands, according to Kantar’s ‘2019 BrandZTM Top 75 Most Valuable UK Brands’ ranking. While the UK retailers in the Top 75 grew their combined value by 4% over the last year, their…
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11 SeptemberHigh Street
Inditex reports record net sales and revenue in H1
Inditex Group, owners of retail chain Zara has reported record revenue and net sales for the first half of 2019. Net sales topped €12.82bn (£11.4bn) for the first time, a year-on-year growth of 7%, for the period from 1 February-31 July 2019. Net profit hit a new record of €1.55bn…
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11 SeptemberHigh Street
Store closures hit record levels in the first half of 2019
The number of stores closing down in the first six months of the year has reached its highest levels, with 2868 closures recorded for the period. An average of 16 stores a day shut their doors, according to research by the Local Data Company (LDC) and accounting firm PwC. The…
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