Retail in 2025: The year of personalisation, AI, wellness – and no more barcodes December 24, 2024 2024 has been a tough year for retail. From companies sounding the alarm on business rates in the first half of the year to low consumer confidence and footfall proving stickier than expected, the festive period has now been overshadowed by stark warnings about further cost rises next year. Restructuring partner at RSM UK, Gordon [...]
Mike Ashley loses vote to join Boohoo board December 20, 2024 Mike Ashley has lost his bid to become a board member of fast-fashion giant Boohoo, which his Frasers Group is the largest shareholder. More than 63 per cent of votes were cast against the appointment of the billionaire at a general meeting in Manchester. Almost the same number of votes were also cast against Michael [...]
UK retail sales rise slightly in November amid concern over golden quarter December 20, 2024 The latest ONS data showed retail sales jumped 0.2 per cent last month, following a 0.7 per cent fall in October.
Shops being ‘thwacked by colossal’ employment costs December 18, 2024 Business rates rises totalling £7.6m are being faced by shops in Scotland when the new tax year starts, according to new figures. A total of 4,520 shops liable for the intermediate and higher property rates will experience an increase in their rates bills, according to information obtained by Conservative MSP Craig Hoy and published by [...]
Shoe Zone shares crash as Budget deals major blow to profit plans December 18, 2024 Shares in Shoe Zone have plummeted to their lowest value for more than three years after the company warning the changes announced in the Autumn Budget has forced it to close a number of stores. The Leicester-headquartered retailer issued a trading update to the London Stock Exchange in which it revealed the impacted that “significant [...]
Shoe Zone: Firm slams Budget tax hikes as it’s forced to close ‘unviable’ stores December 18, 2024 Shoe Zone has said it has been forced to close “a number” of stores following higher costs announced in the Autumn budget. The affordable footwear company said a combination of lower consumer confidence following the budget, plus “significant additional costs” due to the increases in National Insurance and the National Living Wage, have made the stores [...]
Why Canary Wharf has just topped the list of UK retail destinations December 18, 2024 The phrase ‘London retail’ tends to conjure up images of crowds on Oxford Street, boutiques in Marylebone or Chelsea, maybe a Westfield. Green Street, however, has just rated Canary Wharf as the number one retail destination in not only London, but the UK as a whole. Canary Wharf is certainly having a good year: In [...]
Frasers Group CEO measured up for Hugo Boss board seat December 17, 2024 The chief executive of Frasers Group, Mike Ashley’s retail giant which owns the likes of Sports Direct and House of Fraser, is in line to take a board seat at Hugo Boss. Michael Murray will take part in an election to become part of the German fashion retailer’s supervisory board. Frasers Group currently holds a [...]
B&M hires boss of Iron Bru maker as it battles slumping share price December 17, 2024 B&M has hired the chief executive of Iron Bru maker AG Barr as it battles a slump in its share price. Euan Sutherland will become a non-executive director at the Liverpool-headquartered company from 20 January, 2025, subject to shareholder approval. If appointed, Sutherland will also join the remuneration and nomination committees. Sutherland has been chief [...]
Retail jobs slashed as high costs lead to automation and outsourcing December 17, 2024 The number of jobs offered by the UK’s largest private sector employer – retail – has dropped again, as companies shift to outsourcing and automation in an effort to deal with higher costs. This trend has been ongoing for some time, and is responsible for both job loss and a lack of job creation as [...]