London
This coverage focuses on retail activity, trends, and developments in London, a central hub of the UK retail industry. Reporting highlights flagship store openings, property developments, regional economic factors, consumer behaviour, and strategic moves by both international and domestic brands. Tailored for retail executives and managers, it offers insights into operating and competing in one of the world’s most dynamic retail markets.
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Jun- 2024 -17 JuneNews
Today’s news in brief-17/6/24
Superdry’s shareholders have approved a restructuring plan to rescue the company from financial difficulties. This plan, following the approval of creditors, includes a £10m equity raise and delisting from the stock market. Founder Julian Dunkerton will underwrite the equity raise, which the company believes will provide sufficient liquidity for its…
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17 JuneNews
M&S appoints new stores director of West division
M&S has appointed Ikea’s UK&I country deputy retail manager Marsha Smith as the new stores director of the West division. Smith, who will take up the new role in September, has worked for Ikea since 2004 in various roles, including becoming president of the Canadian arm. She was also responsible…
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14 JuneTechnology
Crew Clothing partner with tech platform to streamline operations
Crew Clothing has expanded its partnership with cloud management solutions platform Cegid in order to improve operations across its store estate.The clothing brand, which has been a user of Cegid Retail Store Excellence since 2009, has now rolled-out the Cegid’s Newsfeed feature across its 105 stores. The Newsfeed feature “bridges…
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13 JuneNews
Today’s news in brief-13/6/24
Singapore-based fashion retailer Shein has raised prices by over a third on core items to boost revenue ahead of its anticipated IPO on the London Stock Exchange. Coresight Research estimates Shein’s revenue will reach $50bn this year, a 55% increase from last year. The company’s price hikes have outpaced competitors…
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13 JuneClothing & Shoes
Shein ups prices ahead of planned London IPO
Shein has increased its prices by over a third on some core items in an attempt to boost revenues ahead of its anticipated IPO on the London Stock Exchange. According to Reuters, Coresight Research estimates Shein’s revenue will reach $50bn (£39m) this year, up 55% on last year’s figure. The…
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13 JuneSupermarkets
Sainsbury’s launches EV charging loyalty scheme in UK first
Sainsbury’s has begun rolling out its fast EV charging service, Smart Charger, with which customers will be able to collect Nectar points, making it the first EV charging service in the country to offer a national loyalty scheme. The retailer announced that smart charger customers with active Nectar accounts will…
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11 JuneNews
Today’s news in brief-11/6/24
One in three Asda staff have reported being attacked at work, according to a survey conducted by the GMB union. The poll of nearly 1,000 Asda employees revealed incidents of being stabbed, punched, threatened with syringes, and other violent acts, including delivery drivers being chased by cars and confronted by…
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11 JuneNews
Lidl announces third pay rise in 12 months
Lidl GB has announced that it is increasing pay for hourly-paid workers to a minimum of £12.40 across the country, up from £12. In London, employees will see entry level pay rise to £13.65, up from £13.55. The new base rates equal “the best hourly pay” in the sector and…
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11 JuneClothing & Shoes
Battersea Power Station appoints new CEO
Battersea Power Station Development Company (BPSDC), the Malaysian owned operator and developer of London’s iconic Battersea Power Station, has appointed Donagh (‘Don’) O’Sullivan, as CEO, commencing Tuesday 18 June 2024. As CEO, O’Sullivan will lead the continued development of the former industrial brownfield site following the restoration and public opening…
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10 JuneNews
Today’s news in brief-10/6/24
Labour has pledged to overhaul the business rates system if it wins the upcoming general election. The party aims to create a fairer system that supports small businesses and high streets while ensuring that large multinationals and tech companies pay their fair share. Shadow Chancellor Rachel Reeves highlighted the need…
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