Evans Cycles set for closures in spite of ‘profit’ November 18, 2018 Sports Direct owner Mike Ashley is set to close a swathe of Evans Cycles stores in spite of recent suggestions that most of its outlets turn a profit. The retail magnate has warned that he might only be able to keep half of Evans Cycles stores open in the future “in order to save the [...]
Barber boom bucks high street struggles as demand for male hair grooming jumps November 18, 2018 A boom in barber shops is helping to revive the stricken high street, fuelled by the growing demand for hipster beards. Male hair grooming is now one of the fastest-growing retail sectors, as young men – especially workers in the City – care more than ever about the state of their face fuzz. The rise in [...]
Fix the housing crisis and save the high street at the same time November 15, 2018 Two "crises" have dominated the headlines in the last year. The first is the pressure on housing, the challenges of the rental market, and the soaring cost of living, especially in big cities. The second is the so-called “death of the high street”, as shopping habits change and the retail sector struggles to keep up. [...]
Sports Direct confirms closures of four more House of Fraser stores around the UK November 14, 2018 Four more House of Fraser branches are set to close under new owner Sports Direct as negotiations with a landlord broke down. House of Fraser said today that its Intu-owned sites in Norwich and Nottingham, as well as shopping centre stores in Lakeside in Essex and Metrocentre in Gateshead, will close in early 2019. The [...]
Shareholders need to hear more than just contrition if they are to believe in the future of M&S November 8, 2018 Another day, another bleak set of results from a struggling high street retailer. This time it was the turn of M&S to take centre stage, reporting falling food and fashion sales and pledging to leave “no stone unturned” in its bid to restructure the business. Blighted by rising costs, more competition, and major changes in [...]
Marks and Spencer results will reflect the high street’s health November 4, 2018 Results from Marks and Spencer’s clothing range – long the weaker twin to its strong food offering – will be closely watched when the retailer reports on Wednesday, after difficult results for several of its rivals. Consensus estimates from 11 analysts suggest the FTSE 100 firm will post half-year profits before tax of £203m, a [...]
DEBATE: With new research showing Manchester’s rapid growth, is the capital’s tech bubble bursting? October 24, 2018 With new research showing Manchester’s rapid growth, is the capital’s tech bubble bursting? Dominic Harvey, director at CWJobs, says YES. London may steal all the headlines, but as Tuesday’s figures show, Manchester is becoming an ever more dominant force for the tech sector – and the race to secure the UK’s top talent is really [...]
Ranked: Sports Direct tops poll of UK’s most loathed brands October 23, 2018 House of Fraser owner Sports Direct is the UK’s most loathed brand, according to consumer finance website Money Saving Expert. However, billionaire Mike Ashley's bottom-placed retail giant may have been hurt by a social media campaign against the company, admitted the website, which asked 7,600 readers to rank 52 household name brands. Read more: Mike [...]
Game Digital appoints former House of Fraser director as new finance chief October 12, 2018 Video game retailer Game Digital today confirmed former House of Fraser finance director Ray Kavanagh as the firm's new chief financial officer (CFO), while the business heads for a strategic turnaround. He was previously the director of finance at troubled department store chain House of Fraser for eight years, as well as a company board member [...]
Mike Ashley snaps up freehold to House of Fraser’s historic Glasgow store for £95m October 12, 2018 House of Fraser today paid £95m for the freehold to its iconic Glasgow building, promising to turn it into the “Harrods of the north”. Owner Sports Direct bought the Frasers building from Glasgow City Council, promising to turn it into a destination for luxury shopping, with brands like Hermes, Christian Louboutin, Prada and Gucci already [...]