M&S to reset prices overseas as international sales dip November 24, 2024 M&S is looking to reset its prices in its overseas stores in a bid to turn around a slowdown in its international business. Chief executive Stuart Machin said the firm planned to “restore the competitiveness” of the company overseas and added that it was “way out of kilter on price”, The Sunday Telegraph reported. Despite remarkable [...]
How Tiktok is driving Brits to spend local instead of luxury this golden quarter November 22, 2024 Black Friday is known for being the one of the few days of the year when budget-conscious shoppers can flock to their favourite online retailer or high street shop and not feel (too) guilty with the price of their purchases. High-priced, big-name brands have traditionally taken the lead in terms of ringing in the festive [...]
Analysts say Frasers ‘was right’ about Mulberry as it faces long road to recovery November 19, 2024 Analysts have painted a grim picture for the future of British luxury fashion brand Mulberry, which announced its half-year results this morning. It implied job cuts with talk of “streamlining” the business, and told markets that retail sales and revenue dropped 17 per cent and 19 per cent, respectively. Its share price fell 10 per [...]
Boohoo completes fundraising as it struggles to return to growth November 18, 2024 Boohoo has raised just under £40m in a bid to turn itself around amid its public fight with the boardroom demands of an activist shareholder, Mike Ashley’s Frasers. This morning, the company said it had conditionally raised total proceeds of approximately £39.3m. This includes £400,000 from a retail offer and £38.9m from an investor subscription. [...]
Evri serves up record deliveries as online shopping soars November 18, 2024 Evri delivered 730m parcels in the 12 months to March, a 14.9 per cent year-on-year rise that helped profit more than double.
Retailers reassess how to reel in cash-strapped Brits for Black Friday November 16, 2024 As Brits’ loyalty to brands continues to erode and their commitment to seeking value continues to rise, retailers are optimising their digital presence in hopes of a bumper festive season. With online spending reaching ever-higher levels, and brand loyalty going down thanks to the increasing ease of switching between products on the internet, it’s become [...]
WH Smith: Profit jumps as expansion into travel shops pays off November 14, 2024 WH Smith’s push into travel has paid off with the bulk of its growth in the last year due to higher profit at airports, train stations and motorway services. WH Smith’s revenue rose seven per cent to £1.918bn in the year ended 31 August, 2024, driven by growth in travel shops plus the company’s expansion [...]
Pressure on incomes helps B&M grow as value retailer targets 1,200 stores November 14, 2024 Value retailer B&M Bargains has posted a tick-up in revenue as demand for bargain goods has remained high amid pressure on incomes and a higher tax burden. The Liverpool-based group, which included Heron Foods, said group revenue in the half year to 28 September increased by 3.7 per cent to £2.6bn. While this is lower than growth last [...]
Do luxury products have a pricing problem? November 13, 2024 At some point, luxury brands all face the same question: How do you price a good at a level that implies desirability and exclusivity without making it completely exclusionary? The vast majority of luxury brands rely on the aspirational consumer just as much as the super-wealthy. McKinsey has estimated that around half of the luxury [...]
Harrods faces major Christmas strike as staff demand inflation-busting festive bonus November 11, 2024 London’s iconic department store Harrods is facing the prospect of major strike action by its staff over the critical Christmas period. Hundreds of staff, who are members of the United Voices of the World (UVW) union, will vote on strike action in December over what they have described as “poor working conditions” and their festive [...]