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Dr Martens repays UK furlough cash after strong lockdown sales
via theguardian.comSales of footwear brand rose nearly 50% and group profits almost doubledCoronavirus – latest updatesSee all our coronavirus coverageDr Martens has repaid its furlough cash to the government as a result of strong trading during the lockdown.The 60-year-old footwear brand, famous for its sturdy boots, said sales rose nearly 50% in the year to June, while the group’s profits nearly doubled. Related: Dr Martens: are things going wrong with the UK's beloved brand?Continue reading... -
Morrisons hires Made.com chair and Sky CCO as non-exec directors
// Morrisons hires two new non-executive directors
// Susanne Given and Lyssa McGowan have both held senior roles in major companiesMorrisons has appointed two new non-executive directors with immediate effect.
Susanne Given and Lyssa McGowan have both held senior roles in major companies, and the appointments come just a month after Morrisons welcomed Jeremy Townsend, chief financial officer of British businesses group Rentokil, as a non-executive director.
Given is the currently chair of Made. -
Asos’s returns to investors won’t match new discipline of customers
via ft.comOperating margins have doubled, but this trend may be fleeting -
Is Footasylum becoming an entertainment brand?
Founded by David Makin in 2005 and joined by John Wardle in 2008 – the original co-founders of JD Sports – Footasylum has since become an established UK sportswear retailer.
In its Introduction to Footasylum report, the retailer said it was “trend-leading” and had a “strong understanding of the core 16-24 year old customer base”.
Arguably, Footasylum’s understanding of fashion-conscious consumers is evident through its Youtube channel, which posts weekl -
Brooks Brothers rescued from bankruptcy for £249m
// Brooks Brothers sold to a clothing licensing firm and a shopping centre owner for £249 million
// The business collapsed into bankruptcy protection last monthBrooks Brothers has reportedly been sold to brand management firm Authentic Brands and US shopping centre owner Simon Property for $325 million (£249 million).
The US menswear retailer collapsed into bankruptcy protection last month after struggling to trade.
Clothing licensing firm Authentic Brands and Simon Property have to -
Sainsbury’s is catching thieves with AI as it rolls out new “concealment detector” tech
Sainsbury’s is using artificial intelligence to catch thieves as it prepares to test new “concealment detector” technology across its store estate.
Sainsbury’s has partnered with ThirdEye to roll out the concealment detector technology, which uses machine learning to detect and record when a shopper places an item in their pocket or coat.
When the technology detects a concealment, it will send a four second video of the theft to security staff immediately.The initial iter -
Asos cheers City with second profit upgrade in a month
via theguardian.comAfter early hit by coronavirus, fashion store beats forecast as market price rises by rise 6%Coronavirus - latest updatesSee all our coronavirus coverageAsos has upgraded profit expectations for the second time in just over a month, saying sales had been stronger than predicted and shoppers are returning fewer items.Shares in the online specialist rose 6% on Wednesday morning to £44.74 as it said sales were expected to rise by between 17% and 19% in the year to the end of August, more than -
360 jobs up for grabs at M&S’s new Milton Keynes warehouse
// M&S will launch new food distribution centre in Milton Keynes
// The centre will create 360 new jobs across warehouse and inventory operationsM&S has announced it will open a new national food distribution centre in Milton Keynes as part of plans to transform its food supply chain.
The 365,000sq ft centre will open in September, creating 360 jobs across warehouse and inventory operations.
Marks & Spencer said it will expand capacity to “drive improvements for stores and cust -
Home Depot/Lowe’s: the DIY is cast
via ft.comThe US’s two biggest home improvement retailers offer very different prospects -
Moonpig users hacked as hundreds of pounds worth of gifts sent to criminals
Moonpig customers are complaining of their accounts being hacked as hundreds of pounds worth of gifts are sent to anonymous addresses.
Dozens of customers have taken to social media to report the fraudulent activity on their accounts, with many seeing “expensive things” like £40 bottles of alcohol sent as gifts to the hackers.
One user Tweeted that they had been forced to cancel “£100 worth of stuff” while another said their bank had asked them to approve a &p -
Asos upgrades outlook as customers return fewer clothes
via ft.comOnline fashion retailer signals sales and profits ‘significantly ahead’ of expectations -
Puma appoints Ben Hughes as new UK boss
// Puma appoints Ben Hughes as general manager for its UK, Ireland and Benelux division
// He replaces Paul Spencer, who is moving to another rolePuma has appointed Ben Hughes as general manager for the United Kingdom, Ireland and Benelux with immediate effect.
In this role, Hughes takes over from Paul Spencer, who has assumed the position as Puma’s European regional sales director.READ MORE: Puma unable to forecast 2020 as Covid-19 hits profitabilitySince 2014, Hughes has had the role of -
Intu’s Trafford Centre seeks £1.3bn buyer
// Intu seeks buyer for Trafford Centre
// Trafford Centre was last valued publicly by Intu at close to £1.7bn
// The Manchester shopping centre draws in 30 million visitors each yearIntu’s Trafford Centre is reportedly seeking a buyer just less than two months after the shopping centre owner filed for administration.
The UK’s fourth-biggest shopping centre has drafted in PJT Partners and CBRE to oversee the sales process, Sky News reported.
Trafford Centre, which is located in -
UK plunges into recession
// UK nosedives into recession after GDP plunges 20.4% between April and June
// ONS says it’s the biggest recession on record and the first since the 2008 financial crisis
// However, monthly figures showed the economy bounced back in June and MayThe UK has officially entered into the largest recession on record after figures showed the Covid-19 pandemic sent the economy plunging by 20.4 per cent between April and June.
The ONS confirmed the nosedive into recession for the first time sinc -
Dr Martens celebrates “exceptional growth”
// Dr Martens posts rise in annual sales and profits
// Revenue rose 48% and smashed £672m in the year to March 31
// Dr Martens said it had achieved a ”balanced global performance”Dr Martens has seen its yearly sales and profits rise thanks to a strong online performance.
In the year to March 31, the footwear retailer recorded a revenue rise of 48 per cent to £672.2 million, while operating profit surged by 110 per cent to £142.5 million.
Dr Martens said its direct -
264 job cuts as Ben Sherman licencee Baird Group has CVA approved
// Baird Group’s CVA approved by creditors
// The move will results in 264 redundancies & 18 store closures
// It blamed the Covid-19 lockdown, the Debenhams administration & ongoing challenges in retailThe creditors of the Baird Group, one of the licencees for Ben Sherman and Suit Direct, have voted in favour of its CVA proposals.
This means the menswear firm will push ahead with axing 264 jobs and shutting down 18 stores, as well as one warehouse and one office, with immedia -
Asos upbeat as it improves full year sales & profit forecast
// Asos updates sales and profit forecast “significantly ahead of market expectations”
// Asos says profit will reach between £130m-£150m, up from £33.1m the year before
// It also say revenue would likely grow between 17%-19% during the yearAsos has announced that it expects sales and profits this year to be “significantly ahead of market expectations”.
In a pre-close statement, the online fashion retailer attributed its updated forecast to shoppers who -
Mike Ashley’s Frasers Group delays annual results for second year in a row
// Frasers Group full year results delayed by a week
// This is the second year in a row it had delayed its annual results
// Mike Ashley’s retail empire also delayed its 2019 results by a week and on the day of publication it was 10 hours lateThe full year trading update that slated Frasers Group was slated to publish this week has been delayed for the second year in a row.
Mike Ashley’s retail empire – which owns Sports Direct, House of Fraser, Flannels, Jack Wills Evans Cycl -
Asos raises forecasts as customers return fewer clothes
via ft.comFashion retailer expects sales and profits ‘significantly ahead’ of expectations -
Investors ‘back with a vengeance’ as warehouse demand surges
via ft.comAmazon’s sprawling expansion and the pandemic-propelled rise in ecommerce is spurring record take-up -
Wolverine Worldwide names Brendan Hoffman as new president
Wolverine Worldwide has hired Brendan Hoffman as its next president. Due to take up his new role on 8 September, Hoffman will also become a member of the company’s... View Article -
Morrisons appoints new non-executive directors
The Morrisons supermarket chain has appointed Susanne Given and Lyssa McGowan as non-executive directors of the business with immediate effect. Given is a former chief operating officer of Superdry and has previously... View Article -
Machete or Scalpel: Adjusting Labor Hours to Budget and Aligning to Goals
Guest post: Jeff Duce, Senior Manager of Product Management, Logile. It’s a challenge to adjust labor in retail stores and restaurants to meet budgeted objectives. Annual... View Article -
Key decision-maker study aims to assess the impact of Covid-19 on digital transformation roadmaps
Since the start of the lockdown, Validify has spoken to dozens of retailers in the community and heard how they have used innovation to adapt quickly and how... View Article -
Dr. Martens delivers year of ‘exceptional’ growth
Footwear brand Dr. Martens increased its revenue by 48% to £672.2 million in the year to 31 March as its underlying EBITDA climbed by 93%. The company said the uplifts... View Article -
ASOS benefits from customers making fewer returns
ASOS is predicting that its full year sales and profit will be ahead of expectations after seeing a “sustained and significant” reduction in customer returns since April. The online... View Article -
Adidas appoints new chairman of supervisory board
Adidas has appointed Bertelsmann chief executive Thomas Rabe as chairman of its supervisory board. He will succeed Igor Landau who stepped down after 16 years on the board at... View Article -
A guide to effective customer engagement (with real brand examples)
Our friends at Mention Me have a question for you: Did you know that two-thirds of a company’s profit relies on effectively engaging customers? Customer engagement isn’t... View Article
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