Year: 2019

Boohoo owner hit with £118m lawsuit

Boohoo owner Mahmud Kamani, has had a lawsuit filed against him by an IT consultant for breach of an agreement. Contractor Richard Womack is seeking remuneration for setting up the website, database, and integrated stock lines for the online retailer. He claims to have organised and bought equipment for photoshoots,…

Read More »

New returns policies make 73% of shoppers think twice about buying

Some 73% of consumers have given purchasing from a retailer a second thought for fear of being blacklisted due to updated returns policies created to clampdown on serial returners, a survey has shown. In April, ASOS was one of the first online retailers to take action against serial returners, with…

Read More »

Games Workshop announces bonuses of £5m as profits hit at least £80m

Games Workshop has announced its staff are to receive bonuses totaling £5m, as it expects full-year profit before tax to be no less than £80m. The manufacturer and retailer of fantasy miniatures said it has seen sales growth across all sales channels. It expects group sales for the year to…

Read More »

Footfall ‘plummets’ in May

Footfall declined by 3.5% in May, compared with the same point last year when it declined by 0.4%, according to the latest BRC-Springboard Footfall and Vacancies Monitor. On a three-month basis, footfall decreased by 0.7%. The six and 12-month averages are at -1.3% and -1.4% respectively. High Street footfall declined…

Read More »

Waterstones’ owner acquires Barnes and Noble in £538m deal

Elliott Management, owner of book retailer Waterstones, has announced the acquisition of US book retailer Barnes and Noble for $683m (£538m). James Daunt, CEO of Waterstones, will take the role of CEO of Barnes and Noble following the completion of the transaction and will be based in New York. Barnes…

Read More »

How FMCG retailers are personalising our supermarkets

Sometimes, the world seems to just turn too quickly; work projects pile up, kids’ schedules get too hectic – even taking the time to pick out a healthy meal at the supermarket can seem like an overwhelming task. As both consumers and busy people, many of us crave convenience when…

Read More »

Arcadia amends CVA agreement to appease landlords

Retail company Arcadia has amended the rental reductions for the seven company voluntary agreement (CVA), which are needed for the company to restructure. The original CVAs requested between 35-70% rental reductions in 194 of Arcadia’s 556 locations in the UK and Ireland. However, after failing to reach agreements with certain…

Read More »

London Mayor to launch Night Time Enterprise zone

The Mayor of London, Sadiq Khan, has today announced a new programme to boost the capital’s high streets at night. The pilot zone will be an opportunity for a borough to trial a range of approaches for the high street, such as running night-time markets, testing longer opening hours, or…

Read More »

Offering frictionless delivery is key to winning over millennials

Driven by the rise of online shopping and the modern on-demand lifestyle, millennials now expect their customer journey to be seamless. This has inevitably led to the transformation of the retail industry. While many bricks-and-mortar stores report losses and closures, the world of ecommerce continues to flourish as it meets…

Read More »

New Look founder to step down

Following completion of its restructuring transaction announced on 3 May 2019 New Look’s founder, Tom Singh, has decided to retire at the end of June. Singh founded the fashion retailer in 1969 turning a single store in Taunton into a high street regular with around 400 stores across the UK…

Read More »