Retail news

• More UK retailers in critical financial distress; fashion brand Quiz needs more funding soon – as it happened

  27-12-2024 16:38
  
  Rolling coverage of the latest economic and financial newsBoxing Day footfall down on UK high streets despite discountsMore drama in the currency markets!India’s currency, the rupee, hit an all-time low today before rebounding – sparking speculation that the Indian central bank was selling dollars via state-run banks to curb the weakness.The Reserve Bank of India “stepped in heavily” near the 85.80 level, which helped the rupee recover, a trader at a foreign bank said.Dol
  
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• More UK retailers in critical financial distress; retail footfall is up today after Boxing Day slump – business live

  27-12-2024 15:06
  
  Rolling coverage of the latest economic and financial newsBoxing Day footfall down on UK high streets despite discountsMore drama in the currency markets!India’s currency, the rupee, hit an all-time low today before rebounding – sparking speculation that the Indian central bank was selling dollars via state-run banks to curb the weakness.The Reserve Bank of India “stepped in heavily” near the 85.80 level, which helped the rupee recover, a trader at a foreign bank said.Dol
  
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• More UK retailers in critical financial distress, as Boxing Day sales footfall drops – business live

  27-12-2024 11:10
  
  Rolling coverage of the latest economic and financial newsBoxing Day footfall down on UK high streets despite discountsMore drama in the currency markets!India’s currency, the rupee, hit an all-time low today before rebounding – sparking speculation that the Indian central bank was selling dollars via state-run banks to curb the weakness.The Reserve Bank of India “stepped in heavily” near the 85.80 level, which helped the rupee recover, a trader at a foreign bank said.Dol
  
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• Number of UK retailers on brink of collapse soars by 25%

  27-12-2024 10:51
  Report for final three months of year shows pressure driven by rising costs and weak consumer confidenceBusiness live – latest updatesThe number of UK retailers on the brink of collapse soared by a quarter in the final three months of the year, driven by a combination of rising business costs and weak consumer confidence, according to a report.The proportion of retail businesses classed as being in “critical” financial distress jumped 25% to 2,124 in the fourth quarter compared
  
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• Data: Retailers in ‘critical’ financial distress rise 25%

  27-12-2024 10:04 via retailgazette.co.uk
  
  The number of UK retailers experiencing “critical” financial problems are up by more than a quarter in the last three months.
  According to restructuring specialist Begbies Traynor, there were 2,124 retail businesses in “critical financial distress” in the first 11 weeks of the October to December quarter.
  This is a 25% jump from the 1696 in the period to July to September, but was down slightly on the 2,142 recorded in the last quarter of 2023, The Guardian reported.
  Begb
  
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• Best of 2024: Never Knowingly Undersold is back – and so is John Lewis

  27-12-2024 10:00 via retailgazette.co.uk
  
  New John Lewis boss Peter Ruis has made quite the statement by bringing back its ‘Never Knowingly Undersold’ price promise, two years after the department store scrapped it.
  The first major move since he joined in January indicates that Ruis – who previously spent 10 years at the department store – is refocusing on what makes John Lewis special.
  “As of Monday, we are bringing back Never Knowingly Undersold,” says Ruis. “This is our brand and has always b
  
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• Seasalt plots more US stores as it ramps up expansion

  27-12-2024 09:42 via retailgazette.co.uk
  
  Seasalt is set to open at least two more stores stateside next year as it ramps up its expansion plans for America.
  The fashion retailer said its US store debut in Falmouth, Massachusetts, had outperformed expectations following its opening in September, with customers spending on average 140% more than in its UK stores, The Times reported.
  The brand will open its second location in March at The Grove in Shrewsbury, New Jersey, followed by a shop at Market Square in Portsmouth, New Hampshire, in
  
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• Jo Malone eyes a dozen new stores outside London

  27-12-2024 09:29 via retailgazette.co.uk
  
  Jo Malone London is planning to open at least a dozen new shops outside of the capital over the next couple of years.
  The fragrance brand is looking to increase its store portfolio from 37 to 45 by the middle of 2025, and up to 51 a year later, The Financial Times reported.
  It is planning to target market towns such as Wilmslow, Farnham, Market Harborough, Leamington Spa and Chichester. Related StoryFeelunique posts first annual profit as sales smash £100m21/04/2021 x 8:59 AMJo Malone seni
  
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• Best of 2024: From swoosh to stumble, can Nike regain its stride?

  27-12-2024 09:02 via retailgazette.co.uk
  
  Since its inception 60 years ago, Nike has long dominated the sportswear market, fuelled by innovative products, global reach and out-of-the-box marketing.
  But in recent years its chokehold on the industry seems to be slowing.
  The American sportswear giant is in the midst of its worst slump in a decade. Earlier this year it unveiled plans to cut 1,600 roles as it looks to make £1.6bn in cost savings over the next three years on the back of softer sales.
  When making the announcement to staf
  
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• Boxing Day sales slump as shoppers switch up spending habits

  27-12-2024 08:48 via retailgazette.co.uk
  
  Boxing Day sales dropped from last year as UK shoppers switched up their spending habits.
  Overall footfall was down 7.6% compared to last year, while high street footfall slumped 9.6%, according to data from MRI Software.
  The fall comes as some retailers such as M&S and Next chose to keep their stores closed during the bank holiday this year.
  John Lewis also shut its standalone stores on Boxing Day, with only its Trafford and Stratford shopping centre shops remaining open.
  Footfall across re
  
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• Boxing Day footfall slips as retailers like M&S, John Lewis and Next stay closed

  27-12-2024 08:48 via retailgazette.co.uk
  
  Boxing Day footfall dropped this year as shoppers switched up their post-Christmas spending habits.
  Overall footfall was down 7.6% compared to last year, while high street footfall slumped 9.6%, according to data from MRI Software.
  Shopper numbers across retail parks slipped 6.1%, and was down 5.1% across shopping centres by 8pm compared to 26 December 2023.
  The fall comes as some retailers such as M&S and Next chose to keep their stores closed during the bank holiday this year.
  John Lewis a
  
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• Toilet seat and burial plot: 21% of Britons given unwanted Christmas gifts, Which? finds

  27-12-2024 07:00
  
  Secondhand tumble dryer and roast beef for vegetarian also in ‘worst present ever received’ pollA burial plot and a toilet seat top the list of the nation’s all-time worst Christmas gifts, according to research that suggests one in five Britons receive an unwanted present in their annual haul.More than 2,000 members of the public were polled by Which? about what they were given at Christmas last year, with 21% saying they had received an unwanted or unsuitable gift. Continue re
  
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