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-
Target: model student
via ft.comHigher margin in-house lines both pad profits and act as a bulwark against Amazon’s reach -
COMMENT: Our people are the retail sector’s most valuable asset
Last week’s announcements on the reopening of non-essential shops from mid-April provides some of the clarity that everyone working in the sector so desperately needs.
There are more than four million retail workers across the UK, and they have been hit financially, emotionally and physically during the entire course of the Covid-19 pandemic. They have had to cope with extremely difficult changes in their working conditions, livelihoods have been placed on hold during the lockdown periods -
French Connection launches formal sale process
// French Connections says it is launching a formal sales process
// It had received 2 approaches, but one of them had dropped out.
// The takeover approaches come more than a year after French Connection called off plans to find a buyer last yearFrench Connection has said it is launching a formal sale process after receiving takeover interest, but told investors a suitor from last month will not make an offer.
In early February, the fashion retailer said it had received two approaches – o -
Local governments need the power to save their high streets
via ft.comWhitehall should let UK communities decide how best to save jobs and shape town centres -
Northern Ireland confirms phased lockdown exit plan
// Northern Ireland lockdown exit plan confirmed, but without specific dates for the reopening on non-essential retail
// Ministers previously made it clear that Northern Ireland’s phased lockdown exit plan would be led by data
// The stages of the exit plan are lockdown, cautious first steps, gradual easing, further easing, and preparing for the futureMinisters in Northern Ireland’s devolved administration have agreed a phased plan for taking the country out of lockdown.
Stormont ap -
Instacart valued at $39bn in funding round ahead of IPO
via ft.comUS grocery delivery app says it will use proceeds of $265m round to increase corporate headcount -
US to investigate claim of forced labour at Boohoo
via theguardian.comMove follows charity’s allegations of poor working practices in its UK supply chainUS authorities have launched an investigation into allegations of forced labour in Boohoo’s UK supply chain, which could lead to the online fashion seller’s goods being impounded at ports.The Customs and Border Protection (CBP) body is understood to have found sufficient grounds for the investigation late last month after Liberty Shared, a charity which campaigns against modern slavery, sent it a -
US should consider ban on Boohoo clothing, says charity
via theguardian.comFashion seller has faced allegations of poor working practices in its UK supply chainA charity has urged US authorities to consider a ban on Boohoo’s clothing over poor conditions in the online fashion seller’s UK supply chain.Liberty Shared, which campaigns against modern slavery, said it had sent a petition to the US Customs and Border Protection (CBP) on 1 February concerning “the potential prohibition of importation into the United States of apparel sold by Boohoo” if -
Weak jobs and retail data point to double-dip eurozone recession
via ft.comSpanish unemployment hits 4m for first time in 5 years while German shoppers scale back -
Travis Perkins withholds dividend payments again & restarts Wickes spin-off
// Travis Perkins withholds dividend payments to shareholders again, after first suspending them a year ago
// However, as restrictions begin to lift Travis Perkins expects to pay out a dividend later this year
// Its demerger with Wickes, which was also put on hold amid the pandemic, will also start up again and be complete by Q2Travis Perkins has once again withheld its dividend to shareholders after it took government support last year, it announced today.
The hardware supplies firm – w -
Forest of Dean: small businesses counting on further help from UK budget
via theguardian.comColeford traders pin hopes on post-lockdown recovery and extended assistance from chancellorCoronavirus – latest updatesSee all our coronavirus coverageFor the moment, the narrow gauge locomotives of the Perrygrove Railway in the Forest of Dean are tucked away in their engine shed but over the next few weeks the team will bring them out, check they are in working order and from 12 April, the hope is that it will be full steam ahead for the visitor attraction again.“We’re very e -
Hotel Chocolat vows to reopen all 125 stores despite online surge
// Hotel Chocolat CEO Angus Thirlwell promises to reopen all stores after lockdown, with no plans to permanently shut any
// Sales were up 11% to £101.9m in the second half of 2020, compared with the first half
// Pre-tax profits also rose 3% to £15.5m compared with £15m in the first six months of the yearThe chief executive of Hotel Chocolat has said all 125 stores will reopen once Covid-19 restrictions are eased and that there no plans to shut any permanently.
Angus Thirlwell -
Brits spend £15.2bn extra on groceries over past year
// Brits spent £15.2 billion more on groceries since the pandemic started, which equates to around £4800 per household
// This is £500 more than pre-Covid times
// Grocery sales rose 12.5% in 12 weeks to Feb 21, and 15.1% over the past month – the fastest since JuneBrits spent £15.2 billion more on groceries during the pandemic as various restrictions over the past year forced the closure of bars, pubs and restaurants, new figures show.
Kantar grocery data revealed -
Aldi and Lidl lose out as UK online grocery sales hit new heights
via theguardian.comTesco market share up for first time in five years as shoppers turn to internet during Covid pandemicCoronavirus – latest updatesSee all our coronavirus coverageAldi and Lidl have lost share of the grocery market for the first time in more than a decade, while Tesco’s share rose for the first time since 2016, amid a surge in online shopping during the pandemic.Online grocery sales accounted for a record 15.4% share of the market in the four weeks to 21 February, up from 8.7% last yea -
UK’s first Amazon Go store will actually be an Amazon Fresh according to new documents
Amazon’s first physical UK store will be an Amazon Fresh supermarket not a high-tech automated Go store, newly revealed documents suggest.
Earlier this week a report from the Mail on Sunday suggested Amazon was due to open the doors to a new Amazon Go store in Ealing, London this week.
However, drawings submitted as part of a planning application to Ealing Council suggest the store will actually be Amazon’s larger Fresh format.
According to The Grocer, “gree -
Gumtree UK, Shpock and Motors.co.uk to be sold to push through Ebay’s $9.2bn merger
Ebay is being forced to offload its “primary classifieds operations in the UK” in order for its $9.2 billion merger to go ahead.
The UK Competition and Markets Authority (CMA) confirmed today that Ebay and Norwegian classified ads giant Adevinta had offered to offload Gumtree UK, Motors.co.uk and Shpock to “remedy” competition concerns raised last month.
It comes after the CMA said last month that Ebay’s multi-billion-dollar merger of its classified ads business wi -
Boohoo could be banned from the US as “modern slavery” allegations continue
Boohoo could be banned from the US following widespread allegations of “modern slavery enforced labour” in its supply chain.
US Customs and Border Protection (CBP) has now launched an investigation into the online fashion giant and many of its suppliers, according to Sky News.
The investigation has been launched in response to petitions from lawyer and head of the anti-modern slavery campaign group Liberty Shared, Duncan Jepson, who said the “evidence of Boohoo and forced -
Ryman threatens to withhold rent until non-essential retail reopens
// Ryman to withhold rent until non-essential retailers are allowed to reopen
// Theo Paphitis’ company is embroiled in a row with landlords
// Theo Paphitis Retail Group also owns lingerie firm Boux Avenue and hardware retailer Robert DyasRyman has reportedly threatened to withhold rent from landlords until non-essential retailers are allowed to reopen.
The stationery retailer, which is owned by Dragons’ Den businessman Theo Paphitis, is currently embroiled in a row with landlords o -
Rishi Sunak to support small businesses with Help to Grow scheme
// The government to offer increased support to small businesses in wake of Covid-19
// A new £520m Help to Grow scheme is set to be revealed in today’s Budget
// The package is expected to form part of Chancellor Rishi Sunak’s updated Plan for JobsSmall businesses will be handed support under a new £520 million Help to Grow scheme to be revealed in today’s Budget.
The scheme will aim to strengthen their software and boost their productivity through use of clou -
Dobbies bucks retail trend as sales reach £252m amid lockdown
// Dobbies sales rose 51% to £252m in the 53 weeks to March 1
// On a like-for-like basis, sales increased 6% during the period
// Underlying EBITDA rose by 39% to £25mDobbies Garden Centres has reported a sales rise of 51 per cent to £252 million in the 53 weeks to March 1, 2020.
On a like-for-like basis, sales increased by six per cent during the period.
The group also increased its underlying EBITDA by 39 per cent to £25 million.READ MORE: Dobbies partners with Too Goo -
JD Sports in pole position to acquire Arcadia warehouse
// JD Sports in exclusive talks to buy Arcadia Group’s distribution centre in Daventry
// JD Sports will likely acquire Arcadia’s remaining logistics asset for more than £60m
// Boohoo Group, Amazon and Ebay had recently expressed interest in buying the warehouseJD Sports has announced it is currently in pole position to acquire Arcadia Group’s distribution centre in Daventry, Northants.
The warehouse has a rateable value of £3.08 million with current business rates -
Matchesfashion CEO Ajay Kavan steps down
// Matchesfashion chief executive Ajay Kavan leaves with immediate effect
// Non-executive director Maureen Chiquet will act as exec chair until a CEO replacement is found
// Kavan had been at the helm of the luxury retailer since March 2020Matchesfashion has announced that its chief executive Ajay Kavan has stepped down from the business with immediate effect.
Non-executive director Maureen Chiquet, who joined the business in 2018, will act as executive chairwoman until a chief executive replac -
FT 1000: the fifth annual list of Europe’s fastest-growing companies
via ft.comGreen energy supplier takes top spot and London remains the city with the most high-growth businesses -
Wickes posts strong sales growth
Travis Perkins has reported that full year like-for-like sales at its Wickes DIY chain climbed by 5.5% despite disruption to trading operations due to Covid-19 lockdowns.... View Article -
Vestiare Collective announces new €178 million financing round
Vestiare Collective, the online platform for second-hand fashion, has completed a new €178 million financing round backed by luxury group Kering and US investment firm Tiger... View Article -
Morrisons acquires Cornish seafood supplier
The Morrisons supermarket chain has acquired a family-owned seafood supplier based in Cornwall. Falfish has been supplying fresh fish and shellfish to Morrisons for over 16... View Article -
In The Style unveils plans to float on AIM
Online fashion retailer In The Style has announced plans to float on London’s Alternative Investment Market. Founded by chief executive Adam Frisby in 2013, the company follows... View Article -
Hotel Chocolat hails ‘superb’ first half results
Hotel Chocolat increased its first half revenue by 11% to £101.9 million after the retailer saw strong multichannel growth in the UK, USA and Japan. In... View Article -
Dobbies reports strong full year sales growth
Dobbies Garden Centres Group saw its total sales rise by 51% to £252 million in the 53 weeks to 1 March 2020. On a like-for-like basis,... View Article -
[ RESOURCE HUB ] Is your business currently challenged by inventory in the wrong locations?
In this unpredictable climate, even the most refined retail businesses are finding their inventory is not always in the right place – leading to a dramatic... View Article
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