Year: 2019

Should retailers be banking on the concept store?

Pop-up and concept stores could be key to boosting profitability over the festive season and throughout the year ahead, allowing businesses to take advantage of growing appetite for experiential retail, particularly at key trading periods. But are these agile stores likely to stick around or is it a case of…

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Sainsbury’s mulls offers for £1.9bn mortgage book

Big Four grocer Sainsbury’s is reportedly fielding bids for a takeover of its £1.9bn mortgage book, as part of an overhaul of Sainsbury’s Bank. According to a report by Sky News, the retailer has already received a number of offers, including bids from Lloyds Banking Group. Bankers at BNP Paribas…

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New Look appoints Nigel Oddy as new CEO

High street retailer New Look has appointed Nigel Oddy as its new chief executive officer. Oddy joined the retailer in April and held the role of its chief operating officer. He was also the chief executive of House of Fraser, having spent seven years at the department store holding various…

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Kate Spade CEO resigns

Tapestry Inc. has announced the departure of Anna Bakst, CEO and brand president of Kate Spade. Bakst will leave her position with the fashion brand at the end of the calendar year. She began her role in April 2018.  Joanne Crevoiserat, Tapestry’s chief financial officer, will act as interim CEO…

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2020 retail predictions

Artificial Intelligence/Machine Learning skills gap  Retailers have been recognising the huge value Artificial Intelligence (AI) and Machine Learning (ML) can bring to their supply chains, whether for forecasting demand, setting prices or anticipating disruption. However, the challenges in 2020 will be ensuring they have the in-house skills to take advantage…

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Businesses are sitting on £115bn and waiting to splurge

Goldman Sachs thinks money will pour into UK stocks and shares after this election, but it’s at least partly because they suspect a Tory victory. Regardless of which side of the Brexit divide you are on, there is one thing that’s for certain: business has been extremely cautious about the…

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Dixons Carphone profits drop 60% in half-year results

Dixons Carphone has reported a 60% decrease in profit in its first half, following a group adjusted profit before tax of £24m compared with £60m from last year. In the year ending on 26 October, the business also reported a 1% decrease in like-for-like revenues in the UK and Ireland.…

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Ocado sees sales slow in Q4

Online supermarket Ocado has revealed that sales its sales growth had slowed slightly in Q4, coming in line with its expectations at 10.8%. For the 13-week period ending 1 December, Ocado’s revenues reached £429.1m, down from third quarter growth of 11.4%, after it was revealed that a 10.4% growth in…

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Homebase rated ‘worst’ online retailer in the UK for 2019

Homebase has been rated the worst online retailer in the UK for 2019, according to the latest Which? Annual Online Shops Survey. Shoppers complained about the retailer ignoring complaints and selling products that were actually out of stock. Which? asked more than 7,500 members to rate the most popular online…

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Superdry profits slump in half-year results

Superdry saw underlying profits tumble to £200,000 in the six months to 26 October 2019, down from £12.9m recorded during the same period last year. The fashion retailer also saw revenues drop by 11% to £369m, which reflects “an expected year of reset” for the fashion retailer, who claims it…

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