Year: 2019

Now is the time for UK retailers to rethink the handling of returned stock

As the end of the financial year approaches in April, retailers have several options to begin their spring cleaning. A new fiscal year allows companies to evaluate their spending over the past 12 months and look to make any changes as budgets refresh and new targets are set. With return…

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Bonmarche stores and jobs at risk after Philip Day acquisition

Bonmarche stores and jobs have been put at risk after Edinburgh Woolen Mill owner Philip Day acquired the clothing retailer for £5.7m. Day told the BBC that if his deal was successful, it would see a “store-by-store profitability assessment” in order to close under-performing stores unless it could implement a…

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Schroders backs Findel’s rejection of Sports Direct takeover

Fund manager Schroders has backed Findel’s rejection of Sport’s Directs £140m takeover bid, saying it “significantly undervalues” the future prospects of the company. Schroders said it remains “supportive of Findel” and its management team and the “operational and financial progress” that the home shopping company has made under the leadership…

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O2 increases paternity pay leave package to 14 weeks

Mobile network and phone retailer O2 has announced it will increase its paid paternity leave to 14 weeks for all permanent employees, effective from 1 April 2019. The new policy, which moves away from traditional two-week paternity policies, has been introduced to ensure all partners have the support and flexibility…

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Colin Porter to retire as Joules CEO

Joules CEO Colin Porter is to retire before the end of 2020 after eight years working with the fashion retailer. The exact date of Porter’s retirement is yet to be announced, however a process to appoint his successor has begun with the Joules board set to make an announcement in…

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Why retail rewards schemes do not necessarily create loyalty

Customer loyalty is not something retailers can afford to take for granted. With only 3% of people saying they feel devoted to their favourite stores, it’s the norm to shop around for the best deals and ‘cheat’ on one’s usual shop of choice. Although consumers still see some of the…

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Cambridge named UK’s ‘leading retail location’ for second time

Cambridge has again been named as the UK’s leading retail location according to a list scoring Britain’s best and worst retail centres. The university city topped a list of 1,000 retail centres, compiled by strategic retail property consultancy, Harper Dennis Hobbs (HDH). The HDH 2019 Vitality Index determines the retail…

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Shops, pubs and restaurants to get £500m tax reprieve

Small firms on England’s embattled high streets are set to share in half a billion pounds worth of tax cuts as business rates bills are slashed, real estate adviser Altus Group has said. The government announced a business rates discount scheme for small sized high street properties in England which…

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Debenhams shareholders back Mike Ashley becoming CEO

Sports Direct has said a number of other shareholders in embattled department store Debenhams have expressed support in Mike Ashley becoming CEO of the company. Ashley’s retail company Sports Direct has an almost 30% stake in Debenhams and as the department store has been seeking funding to help with its…

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40% of shoppers feel no loyalty to fashion retailers, report finds

Some 42% of UK consumers feel “no loyalty” to any fashion retailer, according to a new report into consumer attitudes. The report by customer engagement, loyalty and lifetime optimisation specialist Ello Media, surveyed 1,000 consumers to discover their expectations surrounding loyalty and the loyalty schemes that brands deliver . It…

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