Year: 2019

Bonmarché to be delisted as second largest shareholder sells up

Fashion retailer Bonmarché is set to become delisted as the company’s second largest shareholder sold its stake, meaning Spectre Holdings now owns more than the 75% required to take the business private. Investment fund Artemis sold its 12% share taking Philip Day’s stake up from 69% to nearly 83%. In…

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Asda Sainsbury’s merger blocked for 10 years

The Competition and Markets Authority (CMA) has prohibited Asda and Sainsbury’s from working with each other until 29 July 2019 after it blocked the supermarkets’ attempt at a merger. Concluding its investigation into the merging of the supermarkets, the order came into force on 9 July 2019 as it said…

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The impact of Brexit on the UK retail market

It’s no secret that the UK retail sector is facing a serious crisis, with the demise of several vendors including HMV, Toys R Us and LK Bennett a stark example of companies which have failed to stay afloat. But where did it all begin and what actions can retailers take…

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M&S warns it could close more than 110 stores

Marks and Spencer chief executive Steve Rowe admitted to shareholders at its AGM that plans to close 110 of its stores are “not finite” and said the retailer is paying for “not shutting stores 10 or 20 years ago”.  Marks and Spencer currently has plans to axe 85 full-line stores…

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Dunelm remains ‘cautious’ as Q4 revenues jump 15%

Homewares retailer Dunelm has reported a 15.4% increase in total like-for-like (LFL) revenue for the 13-week period ended 29 June 2019. The retailer said the increase reflects “strong” underlying growth in stores and online, the benefit of a “weak comparator” period last year and favourable weather this year. Life-for-like store…

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Superdry reports annual losses of £85m

Fashion retailer Superdry has announced pre-tax losses of £85.4m for the year to 27 April, compared with the profit of £65.3m reported the previous year. The company cited the “changes to the retail market” and the “uncertainty of Brexit” as some of the contributing factors for the downturn in trade.…

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Disorderly Brexit could see the UK economy lose out on £22bn a year by 2024

Employers operating in retail most at risk of losing staff A ‘disorderly Brexit’ could see the UK suffer a £22bn reduction in economic output, compared to an ‘orderly Brexit’ – a new study has revealed. The report, developed by workforce management expert Quinyx in collaboration with Development Economics and Censuswide,…

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‘Worst June on record’ for retail sales, says BRC

On a total basis, sales decreased by 1.3% in June, against an increase of 2.3% in June 2018, according to new data from the BRC. The group said the decline dragged the three-month average into a decline of 0.1% and the 12-month average to an increase of 0.6%, the lowest…

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Primark founder Arthur Ryan dies aged 83

Budget fashion chain retailer Primark has announced its founder and chairman Arthury Ryan has died at the age of 83, following a short illness. Ryan founded the company, then known as Penneys, in Dublin in 1969 with the news coming just days after the retailer celebrated its 50th anniversary. It…

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Online to make up more than 50% of retail sales in 10 years

Online shopping will account for more than 50% of retail sales (up from 19% currently) in the next 10 years according to a new report, The Digital Tipping Point, out today (Tuesday 9 July). Commissioned by law firm Womble Bond Dickinson (WBD) which advises a wide range of retailers, the…

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