Year: 2019

July consumer spending hits record low

UK consumer spending in the month of July fell to a record low despite the good weather, according to the latest statistics from the British Retail Consortium (BRC) and KPMG. On a total basis, sales increased by 0.3% in July, against an increase of 1.6% the previous year, it is…

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Sports Direct acquires Jack Wills in pre-pack deal

Mike Ashley’s Sports Direct has acquired fashion retailer Jack Wills from administration, after administrators KPMG accepted the £12.75m offer tabled by the sports retail group. Jack Wills currently has 100 stores in the UK, employing around 1,800 people, with all properties and distribution centres to be transferred to Sports Direct…

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Tesco announces 4,500 job cuts across its Metro stores

‘Big Four’ grocer Tesco has announced it is to cut 4,500 jobs from its Metro stores across the UK. The job cuts come as part of the supermarket’s plans to “simplify and reduce processes and administrative tasks” across all of its 153 Metro stores. The company said the format was…

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Spotlight: Retailers defying the high street doom and gloom

Joules British clothing retailer Joules has continued to defy the high street gloom over the past two years, and so far has not buckled under the pressures of ‘brexit uncertainty’ and the shift in consumer tastes and trends. Originally established as Joule & Sons in 1977 by Ian Joule, the…

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Mike Ashley to rival Philip Day in Jack Wills takeover bid

Sport Direct owner Mike Ashley and Edinburgh Woollen Mill (EWM) owner Philip Day are the final bidders for fashion retailer Jack Wills, according to Sky News. It was first reported last month that the brands owner BlueGem was looking for a buyer for the retailer, with Marquee Brands, Johan Eliasch…

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The key trends in angel investment that are impacting retail

Early stage angel investment is a good barometer of how an industry is likely to develop in the future. Looking at what is capturing the interest of investors in the retail space, a focus on uniqueness, ‘customer delighting’ and supply chain efficiency looks like a recipe for success. Customer delighting…

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Lovehoney names Sarah Warby as new CEO

Sexual wellbeing brand and online retailer Lovehoney has appointed ex-Sainsbury’s and Heineken marketing director Sarah Warby as its new CEO. Lovehoney, which was founded by journalist Richard Longhurst and DJ Neal Slateford in 2002, has grown revenues to more than £100m. Warby will lead Lovehoney on its next phase of…

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M&S strategy director to lead Ocado Retail following deal completion

Ocado has completed the 50% sale of its Ocado Retail business to Marks and Spencer and has announced the appointment of Melanie Smith to lead the joint venture. Smith, currently the strategy director at Marks and Spencer, will become the CEO of Ocado Retail Limited and will be joined by…

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Asda staff to protest over ‘punitive’ contracts

Workers at Asda are set to protest over new contracts which have been deemed as “punitive” by trade union GMB Union. The Union, who represent the supermarket employees, has arranged a protest which will take place in Leeds on 14 August against the contract six proposals. The contract will see…

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Pets at Home revenues jump 9.9% in first quarter results

Pet goods retailer Pets at Home has reported a 9.9% increase in group revenue to £303.4m for the 16 week period from 29 March to 18 July 2019. Retail revenue was up 8.7% to £266.4m and omnichannel revenue increased by 36% to £26m – with vet group revenue also up…

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