Year: 2019

Zara owner Inditex launches new sustainability strategy

Inditex, the parent company of fashion brands Zara, Pull&Bear, Stradivarius and Massimo Dutti has unveiled its new sustainability line that by 2023 aims to eliminate all single-use plastics for customers sales.  At the company’s AGM meeting yesterday (16 July 2019) executive chairman Pablo Isla said “the culture of diversity, innovation…

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Claire’s announces new CEO

Jewellery and accessories chain Claire’s has appointed Ryan Vero as its new CEO, which will see interim CEO Kevin Corning return to his role on the board. Vero joins the company from Party City Retail Group, where he was president, overseeing nearly 1,000 retail stores in North America and Europe,…

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Around 16% of UK shops lie empty according to FOI

Corporate restructuring advisor Duff and Phelps has revealed that close to 16% of all UK retail and shop outlets remain empty, according to a Freedom of Information (FOI) request made to local councils. Its research found that over 50,000 units in 418 councils remain closed, an average of 121 empty…

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Sainsbury’s Waltham Point warehouse staff set for second strike

Sainsbury’s warehouse staff at Waltham Point are set to go on strike for the second time later this month following a dispute over an attendance scheme. Staff at the ‘Big Four’ grocer’s distribution centre in Essex will take part in a second round of 24-hour strike action on Thursday, 25…

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Burberry revenues surge in Q1 results

Fashion retailer Burberry has reported a 4% increase in retail revenue to £498m for the 13 weeks ending 29 June, driven by an “excellent” consumer response to newly designed products from designer Riccardo Tisci. Like-for-like sales also jumped 4% during the period, and the retailer’s EMEIA grew by a “low-single…

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Arcadia receives challenges on CVAs from US property group

Philip Green’s Arcadia has received a challenge from two legal entities of US property group Vornado, in relation to the company voluntary arrangements (CVAs) which were agreed last month. The retailer had all seven of its CVAs approved last month allowing it to restructure to avoid administration, more than 23…

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Why the in-store shopping experience is irreplaceable

  There’s no denying that the shopping experience has truly transformed over time. However, it’s also important to appreciate that the in-store shopping experience is irreplaceable to any online alternatives. A change in shopping habits More of us know what we want when we walk into a shop. In fact,…

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Retail footfall ‘slumps’ in June

Footfall declined by 2.9% in June, attributed to the “exceptional and ongoing disruptive political and economic period”, according to retail intelligence firm Springboard. On a three-month basis, footfall decreased by 2.4%, and the six and 12–month averages were found to be -1.3% and -1.7% respectively. High street footfall also declined…

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Sports Direct delays FY results amid House of Fraser ‘complexities’

Shares in Mike Ashley’s Sports Direct have fallen by 11% in early trading this morning after it delayed its full-year results citing “complexities” around its House of Fraser acquisition. The results, which were due on Thursday, have been delayed due to “the current uncertainty as to the future trading performance…

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Sports Direct increases stake in Game to 84%

Mike Ashley’s Sports Direct has moved a step closer to purchasing video game retailer Game, after it increased its stake in the company to 84%. The retail group has also put forward an application for Game’s shares to be suspended from trading on the London Stock Exchange (LSE), and for…

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