Year: 2019
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Jul- 2019 -5 JulyHigh Street
Sloane Street to undergo £40m redevelopment
Cadogan Estates, has announced plans to oversee a £40m redevelopment of Sloane Street, following the recent transformation of Pavilion Road which runs parallel. London Architects John McAslan + Partners, whose recent work includes the transformation of King’s Cross Station, has been appointed to lead the redevelopment. The programme also includes…
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5 JulyOnline & Digital
Amazon’s Deliveroo deal could face CMA investigation
The Competition and Markets Authority (CMA) has put Amazon’s Deliveroo deal on hold as the regulator said it believed it could “result in Amazon and Deliveroo ceasing to be distinct”. In May, Amazon led a $575m (£450m) investment round in the food delivery app raising a $1.53bn (£1.2bn) total. The…
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4 JulyClothing & Shoes
Monsoon creditors agree to CVA
Monsoon Accessorize creditors have given the green light on the retailer’s CVA plans which will see over half of its stores receive rent reductions. The reductions, which were proposed last month, will see cuts to rents of between 25%- 65% across 135 out of its 258 stores after the retailer…
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4 JulyHigh Street
The Works FY19 revenues jump 13.2%
Stationery retailer The Works has reported a 13.2% increase in revenues in its preliminary results for the 52 weeks ended 28 April 2019. The retailer posted positive like-for-like growth of 3% during the period, driven by growth both in stores and online, and adjusted EBITDA increased by 4.2% to £13.8m.…
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4 JulyHigh Street
Superdry appoints former John Lewis and New Look CFOs
Fashion retailer Superdry has appointed Helen Weir and Alastair Miller to its board as non-executive directors, taking the role of senior independent director and chair of the audit committee respectively. Weir was most recently CFO of Marks and Spencer, a role she held from 2015 to 2018. Prior to this…
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4 JulyNews
Primark like-for-like sales hit by ‘unseasonable’ May weather
Sales at Primark in the year-to-date were 4% ahead of last year, driven by an increased store portfolio, however this was partially offset by a decline in like-for-like sales. The budget retailer’s parent company AB Foods said its sales were “held back by unseasonable weather in May” but said it…
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3 JulySupermarkets
Sainsbury’s Q1 sales fall as non-food sales struggle
Sainsbury’s has announced another tough quarter of trading as it revealed a 1.2% fall in total sales during Q1. During the 16 week period ending 29 June Sainsbury’s like-for-like sales also fell by 1.6% as its attempt to reduce the prices of more than 1,000 “big selling” own-brand products did…
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3 JulyPeople Moves
Sports Direct retail chief leaves after 28 years
Sports Direct’s head of retail operations, Karen Byers, is stepping down from her position with immediate effect after 28 years, the Press Association has reported. Byers joined Sports Direct soon after it was founded by Mike Ashley, and has been described by him as the person who “runs Sports Direct”.…
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3 July
Amazon to create over 2,000 more UK jobs
Online retailer Amazon has announced that it will create 2,000 new jobs in the UK in 2019, which will take its total permanent workforce to more than 29,500 by the end of the year. The company has now invested £9.3bn in its UK operations since 2010. The roles available range…
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2 JulyAnalysis
How to make the most of empty retail spaces
Earlier in this month, The Times reported that the number of vacant shops on UK high streets rose by more than 7,500 last year, fuelled in part by store closures from large retailers such as Mothercare, New Look and House of Fraser. Debenhams then announced that it will downsize at…
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