Year: 2019

Morrisons to close four stores, 400 jobs at risk

Morrisons is to close four stores putting 400 jobs at risk it has confirmed. The ‘Big Four’ grocer revealed stores in Crawley, its Regents Circus store in Swindon, Shirley in Solihull and its Ince store in Wigan are all set to close following a review of its portfolio of 494…

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Ted Baker CFO departs for Mulberry after 17 years

Mulberry, the British luxury brand, has announced the appointment of Charles Anderson to the Company’s board of directors as group finance director, with effect from early October 2019. Anderson replaces Neil Ritchie who, as previously announced, stepped down from the board on 30 June 2019. Anderson has over 20 years’…

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Tobar places Hawkins Bazaar up for sale

Toy and gift retailer Hawkins Bazaar has been brought to the market by its owner Tobar International. The retailer, which began life as a mail order sales business in the 1970s, has grown over the years to include an online retail platform and national portfolio of 23 stores, most of…

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How food retailers can capitalise on AI’s potential

The grocery sector is preparing for a period of unprecedented disruption as food retailers battle to discover new sources of value for consumers. Focusing on the fundamental aims of improving customer service, loyalty and integration of digital and real-life experience, retailers are seeking out ways to better understand shoppers’ buying…

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Sports Direct approaches mid-tier firms in race for new auditor

Sports fashion retailer Sports Direct has approached mid-tier accountancy firms BDO and Mazars as it races to appoint a new auditor, according to a report by the Financial Times (FT). FT said the retailer is aiming to avoid government intervention and a possible suspension from the London Stock Exchange (LSE)…

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CEO pay at the UK’s biggest companies falls by 13%

CEOs of FTSE 100 companies have seen their salary drop by 13% year-on-year to an average of £3.4m in 2018. Just under half (43) of chief executives at FTSE 100 companies saw their pay increase last year, according to figures from the High Pay Centre and Chartered Institute of Personnel…

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Hammerson appoints James Lenton as new CFO

Shopping centre owner Hammerson has appointed James Lenton as the company’s new CFO, and will take the role on 1 October. He will succeed Timon Drakesmith, the current CFO and MD, Premium Outlets, who as announced in May 2019, Drakesmith will step down as an executive director and CFO on…

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How to grow your retail business using print and digital

The retail industry is the single largest private sector employer, employing one in ten people here in the UK. That’s no surprise as annual sales are estimated to be around £358bn. Stepping into this arena can prove to be a particularly tough nut to crack. For the past decade we…

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Supermarket growth remains flat over summer

Supermarket growth remained flat for the 12 week period to 11 August, with all chains barring discount brands Aldi, Lidl and Iceland reporting a drop in sales. Sales at Asda and Tesco who maintain the largest share of the market, shrunk by 1.5% and 1.6% respectively for the period, according…

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House of Fraser extends administration period to 2020

Embattled department store retailer House of Fraser (HoF) has had its administration period extended to 10 August 2020, after being approved by its creditors. According to a report by Drapers, documents on the process of the administration will be released later on this week by ‘Big Four’ accounting firm EY.…

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