Next
This coverage explores Next’s business strategy, operations, and performance within the UK retail sector. Reporting covers store and online developments, product ranges, financial results, marketing initiatives, supply chain management, and leadership decisions. With a focus on commercial outcomes and competitive positioning, it provides insights for retail professionals overseeing apparel, home, and multi-channel retail operations.
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Mar- 2020 -27 MarchCoronavirus
Next and TK Maxx halt online operations
Retail giants Next and TK Maxx have both announced the temporary closures of their online operations amid the ongoing coronavirus crisis. Next announced it had made the “difficult decision” to temporarily close its online, warehousing and distribution operations for the foreseeable future The retailer said that it had “listened very…
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26 MarchBusiness Bites
Wetherspoons’ boss was right to withhold wages
The media and the Twitterati have had a field day vilifying the founder and owner of pub chain Wetherspoons over his decision not to pay his staff in light of the coronavirus restrictions. Tim Martin had sent an email to his 43,000 staff saying he could not afford to pay…
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24 MarchCoronavirus
Covid-19: UK retail spending to fall by £12.6bn
The impact of the coronavirus pandemic will wipe £12.6bn from retail sales this year, according to the latest forecast by GlobalData. The data and analytics company said that the figure was the equivalent of Aldi’s total UK sales last year. The total retail market for 2020 is now expected to…
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19 MarchHigh Street
Next warns on coronavirus despite full-year sales growth
Fashion retailer Next has warned that sales could plummet in the coming weeks and months as the UK battles the coronavirus pandemic, despite posting strong results for the year ended January 2020. Next full price sales were up 4% during the period, and brand total sales (including markdown sales) were…
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Jan- 2020 -28 JanuaryComment
How ‘Ostrich Shops’ are blighting the high street
The state of the high street isn’t to blame for the closure of shops and growing number of UK retailers entering into Company Voluntary Administration (CVA) schemes. It’s a trend of ‘Ostrich Shops’ which is killing high street retail. It’s all too easy to read about struggling high street shops.…
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3 JanuaryDepartment Stores
Next hikes profit forecast after Christmas sales boost
Next has announced a lift to its full-year profit guidance after strong trading over the festive period. Full price sales rose by 5.2% year-on-year for the period October 27 to December 28, 1.1% more than estimated by the retail giant. Following this result, the retailer’s profit guidance for the full…
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Dec- 2019 -19 DecemberPeople Moves
Bonmarché CEO Helen Connolly quits
Bonmarché CEO Helen Connolly has stepped down from her role, after three years in the position, according to Drapers. Connolly stepped down from the position after joining the fashion retailer in August 2016 succeeding Karen Millen and Coast CEO Beth Butterwick. Prior to Bonmarché, she held the position of director…
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12 DecemberComment
2020 retail predictions
Artificial Intelligence/Machine Learning skills gap Retailers have been recognising the huge value Artificial Intelligence (AI) and Machine Learning (ML) can bring to their supply chains, whether for forecasting demand, setting prices or anticipating disruption. However, the challenges in 2020 will be ensuring they have the in-house skills to take advantage…
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Nov- 2019 -25 NovemberLuxury Goods
Louis Vuitton buys Tiffany for $16bn
Louis Vuitton (LVMH) has announced a “definitive” agreement with Tiffany and Co., whereby it will acquire the luxury jewellers for $16bn (£12.5bn), or $135 (£105) per share in cash. This is higher than the original offer, which proposed that each share was bought for $120 (£93), valuing Tiffany’s overall business…
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21 NovemberPeople Moves
Arcadia appoints former De Vere chief as chair
Arcadia has appointed the former chief executive of the hospitality group De Vere, Andrew Coppel, as its new chair. Coppel will assume the chairmanship of Taveta Investments Limited, Arcadia Group Limited and Top Shop/Top Man Limited. Arcadia said he is an “experienced executive” having held a variety of cross sector…
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