Retail news

• Quiz moves to exit stock market as financial woes mount

  22-12-2024 22:49 via retailgazette.co.uk
  
  Quiz has proposed to cancel its listing on the Alternative Investment Market (AIM) and re-register as a private limited company, as it continues to grapple with ongoing financial difficulties.
  The fashion retailer is seeking shareholder approval for the proposal in a general meeting scheduled for 8 January 2025.
  A 75% majority of votes cast will be required for the resolution to pass. If approved, the delisting is expected to take effect on 23 January 2025.
  Founder Tarak Ramzan and his family, a
  
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• Retailers to issue fresh warning to Treasury over jobs and stores

  22-12-2024 20:39 via retailgazette.co.uk
  
  Retailers including Tesco, Asda, Primark and M&S are set to launch a new year campaign warning Chancellor Rachel Reeves that her plans to increase business rates for larger shops will put stores and jobs at risk.
  Some of Britain’s largest retailers such as Morrisons, Sainsbury’s and B&Q have agreed to restore the Retail Jobs Alliance (RJA), which was initially launched in 2022, Sky News reported.
  Insiders said that the RJA is expected to engage with the Treasury over the comi
  
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• B&M accused of attempting to boost Glassdoor rating

  22-12-2024 20:33 via retailgazette.co.uk
  
  B&M has been accused of attempting to “artificially inflate” its rating on employee review website Glassdoor.
  The site has posted an alert at the top of B&M’s page after it found evidence that someone had been trying to aggressively boost the employer ranking for the discount store chain, The Times reported.
  Glassdoor said that alerts of this kind are only posted when it finds “particularly aggressive” attempts by employers or others to influence or manipula
  
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• Time for the Swedish chef: Ikea’s furniture profits are down in Australia, but food sales are booming

  22-12-2024 15:00
  
  Retailer reports 5% growth in restaurant and food business, with affordable meals attracting Australians feeling the pinchGet our breaking news email, free app or daily news podcastIt’s not unusual for a trip through one of Ikea’s labyrinthine stores to end with a $2 hotdog, but more Australians are skipping the flat-pack furniture altogether and heading straight to the dining section.Ikea is seeing more growth from its in-store restaurants and food offerings than its home furnishing
  
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• ‘At the mercy of employers’: retail workers’ wages languish as industry profits soar

  22-12-2024 15:00
  
  While the sector’s earnings have increased sixfold, poor bargaining power has left its employees among the lowest paid in Australia and most vulnerable to inflationGet our breaking news email, free app or daily news podcastRetail worker salaries are failing to keep pace with the rising cost of everything and lag increases secured by those in other sectors, despite a period of elevated company profits.Gross operating profits in the retail sector have increased by more than six times since 2
  
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