Primark to invest £140m in new stores and upgrades creating 850 new jobs November 25, 2022 Primark is to invest £140m in new stores and the creation of 850 new jobs across the UK. The low-cost retailer will create at least four new outlets in the next two years, while upgrading and refurbishing existing stores, over a two year process. This comes as the the UK retail sector continues to struggle [...]
Black Friday: Cash-strapped shoppers look to snap up Christmas bargains before cutting back November 25, 2022 Cash-strapped shoppers will take advantage of Black Friday discounts this weekend as they try to make Christmas special, before tightening their belts as the UK enters into a recession. While retailers may see a temporary boost in sales this weekend, shoppers will pull forward Christmas spending rather than “buying twice” as in previous years, Hargreaves [...]
Consumer protection groups: Social media needs to do more to block Black Friday fakes November 24, 2022 Consumer protection groups have called on social media to do more to block fake Black Friday deals as hundreds of counterfeit items are removed from Instagram. Facebook’s owner Meta and the Trading Standards said it had removed hundreds of items from the app in the run up to tomorrow’s sale. Items included potentially dangerous chargers [...]
Workers supplying KFC, Burger King and Greene King latest join to picket line November 24, 2022 Hundreds of workers who deliver food to chains like Burger King and KFC are to walk out this winter, as well as employees who brew and distribute Greene King drinks. Workers for the food delivery firm behind KFC, Burger King, Pizza Hut and Wagamama are set to strike over a pay dispute, GMB union bosses [...]
Oxford Street to welcome fashion brand Reserved amid revamp of retail district November 24, 2022 London’s Oxford Street is welcoming a new retailer to the block, as fashion brand Reserved has signed up for its second London store. GPE, formerly Great Portland Estates and one of the biggest property leasers in the capital, has signed a letting with Reserved for a more than 19,600 square foot space, which is expected [...]
Dr Martens yet to see cost of living crisis hit as revenue jumps November 24, 2022 Dr Martens is yet to see the impacts of the cost of living crisis in the UK, as it keeps its outlook firmly in place. The footwear retailer enjoyed a revenue jump of 13 per cent to £418.6m in the six months to the end of September. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) [...]
Mothercare hires new top boss as Covid recovery ‘taking time’ November 24, 2022 Baby clothes seller Mothercare has named Dan Le Vesconte as its new CEO, as the retailer admitted that a recovery to pre-pandemic trading was “taking time.” The Watford-based company is seeking to recover from a torrid pandemic, which shuttered some 79 high street stores after collapsing into administration just before the first Covid lockdown. Le [...]
B&Q owner says DIY sales driven by household energy concerns as profit forecast trimmed November 24, 2022 Kingfisher has seen customers forking out to improve their household energy efficiency, as the B&Q owner shaved its full-year profit outlook. In a trading update for the third quarter, the retail titan posted sales of £3.3bn, a 0.2 per cent boost on the previous year. The Screwfix owner previously reaped the rewards of a pandemic [...]
eBay UK chief slams Royal Mail strikes for impact on small businesses November 24, 2022 Ebay’s UK chief has slammed posties’ strike action, saying small businesses are being caught in a “crosshairs at the very time they most need support”. Writing in City A.M., Murray Lambell said smaller e-commerce firms were the “lifeblood” of the economy and must be protected during this festive season. “The last two festive trading periods [...]
Feeling the chill: Hospitality bosses fear energy firms are profiteering in a crisis November 24, 2022 Hospitality bosses have accused suppliers of “deliberately profiteering” of the energy crisis, writes City A.M.