Morrisons axes 3,000 management jobs January 23, 2020 Morrisons is preparing to cut 3,000 management jobs across its supermarkets, as it adds more hourly paid roles. The retailer announced today that it will create 7,000 new hourly paid jobs across its stores, which will result in a net 4,000 new jobs. The affected managers will be able to apply for the new roles, [...]
More than 280 jobs lost as Handmade Burger Co. collapses January 23, 2020 Casual dining chain Handmade Burger Co. collapsed into administration for the second time today, making more than 280 workers redundant. Leonard Curtis was appointed as administrator of The Burger Chain Limited this morning, after attempts to secure a sale of the business were unsuccessful. All 18 restaurants have closed, with the loss of 283 jobs, [...]
Mothercare replaces senior leadership as firm gets to grips with new life January 23, 2020 After closing all 79 of its stores last weekend, collapsed retailer Mothercare has this morning announced wholesale changes to its leadership. Following on from November’s transformation plan, when the group announced plans to become an international franchise operation, the firm today said that chief executive Mark Newton-Jones would step down. He will remain as an [...]
Asos chases away blues with record Black Friday performance January 23, 2020 Online retailer Asos beat the January blues with this morning’s trading statement as revenue grew 20 per cent across the group for the final four months of 2019. The fashion firm said that the growth, which was consistent across all of its divisions, was due to record Black Friday sales. Total sales hit £1.1bn, driven [...]
UK retail sector sheds 57,000 jobs after tough year for high street January 23, 2020 The retail sector shed 57,000 jobs in the fourth quarter of last year following the “worst year on record” for the UK high street. The total number of retail employees fell 1.8 per cent year on year, in the 16th consecutive quarter of decline, the latest research found. The job loss figures come after it [...]
Customer satisfaction levels suffer as retailers battle tough trading condtions January 23, 2020 Customer service satisfaction levels have suffered the longest decline since records began as retailers struggle to juggle meeting consumer expectations and facing the challenging trading conditions on the UK high street. The latest research showed that customer service satisfaction is at the lowest level since July 2015 with a score of 76.9. The top five [...]
Shopping centre owner New River ‘pleased’ with tenants’ Christmas trading January 22, 2020 Property landlord New River this morning said it was pleased with its tenants’ performance during the Christmas trading period despite a drop in footfall at its shopping centres. The real estate investment trust (REIT) said its top 15 tenants, which include Sainsbury’s, B&M, Primark, Next and Iceland, had reported a “robust” trading performance despite “challenging [...]
JD Wetherspoon toasts Christmas sales but warns on debt January 22, 2020 Pub chain JD Wetherspoon reported this morning that sales were up over the Christmas period, but warned that full-year debt will be higher than expected due to a spike in capital expenditure. The pub operator said like-for-like sales in the 12 weeks to 19 January increased 4.7 per cent, and total sales were up 4.2 [...]
Failed Asda merger ‘trigger’ for Sainsbury’s CEO Mike Coupe’s exit January 22, 2020 The departure of Sainsbury’s boss Mike Coupe’s was sparked by the failure to merge the supermarket with rival Asda, analysts said today. Industry experts said it was impossible to look beyond the failure of the Asda merger, and felt his resignation – announced today – was simply a matter of time. Coupe was caught on [...]
Ted Baker reveals £25m accounting error actually cost it £58m January 22, 2020 Ted Baker’s torrid time continued this morning after the designer brand said that it had overstated the value of its inventory by £58m. Last month the luxury clothing firm said that it had appointed magic circle law firm Freshfields to investigate the issue, which it expected to cost £25m. Big four auditor Deloitte has now [...]