Retail group calls for ‘rates corrector’ in next Budget September 13, 2024 High business rates and other bills have led to an overtaxing of the retail industry compared to its size in terms of GDP, according to fresh data. The British Retail Consortium found that retail pays 7.4 per cent of all business taxes – £33bn – a share 1.5 times greater than its share of the [...]
New Boots UK boss named after Seb James’ departure and aborted IPO September 12, 2024 Anthony Hemmerdinger has been appointed managing director of Boots UK and Ireland only months after the high street pharmacy chain’s US parent company once again shelved plans to sell or list the business. Current managing director Seb James, who has run the company since 2018, will pursue a new role in the healthcare sector. Hemmerdinger [...]
John Lewis: ‘Transformation on track’ but chain still in the red September 12, 2024 The John Lewis Partnership has reported an improved set of half-year results and has said it is on target to significantly boost its performance for the full year. The iconic UK name, which also owns Waitrose, said sales topped £5.9bn in the 26 weeks ended 27 July, up by two per cent year on year. [...]
WH Smith shares jump on buyback plan after pension buy-out frees up cash September 11, 2024 WH Smith has announced strong revenue growth, driven by a boost in its airport and train station stores and a £50m share buyback programme. It also announced a £85m cash benefit as the result of its pension fund buy-out. Shares in WH Smith rose more than 12 per cent in early trades. Revenue at the [...]
John Lewis redundancies: What does the law say about department store job cuts? August 14, 2024 More UK retail jobs are set to be lost after John Lewis revealed plans to cut its headcount by more than 150 in the coming months. The move means the department store giant becomes the latest household name to reduce its staffing numbers so far this year. John Lewis has said it hopes to achieve [...]
John Lewis: How all the major changes will impact staff and shoppers August 14, 2024 John Lewis is poised to make a series of major changes that will affect all of its stores across the country and its partners. The organisation announced a restructuring plan yesterday that it described as a “multimillion pound” investment in technology and what it has described as ‘simplification’ would help “improve our customer service and make [...]
John Lewis to make redundancies as major store changes announced August 13, 2024 Department store giant John Lewis is to cut more than 150 jobs as it unveiled a major restructuring plan to its partners. The company is to reduce its headcount by 153 roles, about one per cent of its current workforce, which it hopes to achieve by natural attrition and voluntary redundancies. The news was first [...]
From online to in-store: How retail is adapting to consumers August 3, 2024 The dual effects of the pandemic and the cost-of-living crisis, as well as the ever-improving technology on offer, have changed the way people shop and how retail adapts to customers.
Carpetright: All you need to know ahead of redundancies and store closures July 23, 2024 Carpetright has become the latest household name to fall into insolvency following the likes of The Body Shop, Ted Baker and online luxury fashion retailers Matches and Farfetch earlier this year.
The Body Shop: What next for high street icon as tycoon eyes rescue deal? July 11, 2024 The future of collapsed high street icon The Body Shop could be decided in the next two weeks as it emerged that British tycoon Mike Jatania was in exclusive talks to rescue the brand.