Lloyds unveils plan to pay retailers offering cashback February 19, 2019 Lloyds Banking Group and Visa are piloting a scheme to pay retailers that offer cashback to customers, amid fears for rural town shops that have been hit by the disappearance of ATMs in recent months. In a bid to increase the number of outlets where people can withdraw their money, Lloyds and Visa have said today [...]
Slowdown in retail investment as Brexit uncertainty puts sellers on hold February 19, 2019 Investment in retail property tumbled by several billion pounds last year, as owners of high street stores, retail parks and shopping centres showed a reluctance to sell at discount prices despite uncertainty over Brexit and a swathe of industry-wide pressures. A gap in price expectations between buyers and sellers of retail property is causing a [...]
Fashion industry magnate Karl Lagerfeld dies February 19, 2019 Karl Lagerfeld, the designer of haute-couture, died today aged 85, according to reports. The fashion icon died this morning at the American Hospital on the outskirts of Paris after being admitted yesterday, French site Pure People reported. Read more: MPs call for a penny tax on new clothes to cut waste Designer Donatella Versace posted a [...]
MPs urge government to slap penny tax on new clothes in bid to cut fashion industry waste February 19, 2019 An influential group of MPs has called for a 1p tax on new clothes in a bid to tackle consumer waste within the fashion industry. The penny tax, which would be levied on every new item of clothing sold by Britain’s retailers, has been proposed this morning by the cross-party Environmental Audit Committee to raise [...]
Britain’s first all-vegan cheese shop causes a stink as dairy industry demands it changes branding February 19, 2019 First, it was Marks & Spencer’s cauliflower steak. Then it was Gregg’s vegan sausage rolls. Now, just when you thought you had survived Veganuary, there’s chease. Read more: On a roll: Vegan sausage roll sales help Greggs seek higher profits Yes, you read that right – chease. But, no matter how it's spelled, the dairy industry [...]
The secret to saving the high street? Fewer shops February 19, 2019 Rarely does a day pass without another report about the high street’s seemingly never-ending struggles. However, the tendency to focus purely on the ups and downs of retailers masks a more nuanced picture about what is happening in city and town centres. To properly understand its problems – and, more importantly, come up with some [...]
On a roll: Vegan sausage roll sales help Greggs seek higher profits February 19, 2019 Greggs has hailed its vegan sausage roll for driving “exception sales performance” at the start of 2019 as it told investors that full-year profit is likely to beat expectations. Read more: Cherry on the cake: Greggs shares climb as baker lifts profit outlook The bakery chain began the year with total sales up 14.1 per [...]
London high streets beat UK vacancy rates despite pressure from rising rents February 19, 2019 Signs of health within the London economy emerged today, with a new study showing that the capital was among the British cities with the fewest empty stores on its high street. Despite pressure from rising rents and higher business rates, many retailers on London’s high streets have bucked the wider trend of closures across Britain’s [...]
Meet the startups tapped by John Lewis & Partners in its experiential retail accelerator February 18, 2019 John Lewis & Partners has lined up six startups for its Jlab innovation programme, after more than 160 businesses applied to its experiential technology accelerator. A panel of judges heard pitches from 11 startups earlier this month, offering up new ways to navigate stores from a mobile phone or interact with digital screens without needing [...]
McColl’s profits plummet after supply chain disruption but investors welcome recovery signs February 18, 2019 Profits halved at McColl’s in 2018 as like-for-like sales also slipped, it said today, blaming supply chain disruption as a key partner went under, even as overall revenue grew. But shares grew 13 per cent to 57.2p as investors welcomed the retailer cutting debt as like-for-like sales improved. The figures Profit before tax plunged to [...]