Oxford Street transformation to get underway by December 2018 as TfL and Westminster City Council launch consultation April 24, 2017 The transformation of Oxford Street is planned to start by the end of next year, as Westminster City Council and Transport for London (TfL) today launch a consultation on the development. The consultation considers moves such as removing access for taxis, saying it would “increase the extent” to which Oxford Street could be transformed. Currently, [...]
When it comes to public perception it pays not to short-change staff February 1, 2017 Towards the end of December, there was a row involving luxury department store Harrods. Waiting and kitchen staff took industrial action because they alleged that the business’s owners retained up to 75 per cent of service charge, which reduced pay by up to £5,000 a year. Harrods has subsequently vowed to let staff keep 100 [...]
Retail M&A slowdown as private equity backs away from high street January 30, 2017 The value of UK retail mergers sunk to a three-year low in 2016, with just 36 mergers agreed – down from 47 in 2015 according to law firm RPC. The new figures released today suggest that total deal values have also slumped from £20.7bn down to just £4.7bn, a decline which outpaced a post-Brexit slowdown [...]
These are the key trends in retail in 2017 – and who will benefit from them January 16, 2017 The Christmas reporting season isn't over yet – the market is awaiting updates from Dixons Carphone and WH Smith – but the figures that have been reported so far have indicated some of the key retail trends investors should watch out for this year. Read more: Brexit vote boosts Hugo Boss The outlook for the UK consumer [...]
Winners and losers from retail’s “Super Thursday” January 12, 2017 So many retailers decided to update the market on trading today that Shore Capital analysts published a note to complain about it. But as the morning has progressed, clear winners and losers have emerged from the data deluge. Here are our picks: Winners JD Sports put its gymwear rival Sports Direct to shame today as it scored [...]
JD Sports smashes expectations January 12, 2017 JD Sports shares jumped over seven per cent after the sportswear retailer smashing market expectations on full year numbers. The self-proclaimed "King of Trainers" said profit before tax and exceptional items will be be up to 15 per cent more than the £200m anticipated by analysts. After revealing 10 per cent sales growth at the half [...]
Sports Direct may sell famous brands in bid to become more upmarket January 8, 2017 Sports Direct is looking into selling several of its brands as part of its bid to become the “Selfridges of Sports”. Founder Mike Ashley’s mission to turn the company’s standing around and to make Sports Direct more upmarket has reportedly progressed to ditching brands no longer deemed relevant to the UK market. According to sources, [...]
Zero-hour workers hit by £1,000 “precarious pay penalty” December 30, 2016 Workers on zero-hours contracts battle an average £1,000 "precarious pay penalty", compared to those with traditional employment terms. According to the Resolution Foundation think tank, there is a notable pay penalty associated with such contracts. It said while zero-hours workers earn less than permanent employees; 38 per cent less on average, many people put this down [...]
JD Sports working conditions: King of Trainers says alleged working practices aren’t in its training manual December 15, 2016 JD Sports has hit back at television reports of draconian working conditions at one of its distribution centres, denying the allegations and saying they are not an "accurate reflection" of working practices. An undercover report by Channel 4 news into the sports retailers Kingsway warehouse in Rochdale revealed staff saying working conditions were "worse than prison". Staff [...]
JD Sports share price rises as it announces Go Outdoors Topco acquisition November 28, 2016 Shares in JD Sports were up three per cent mid-morning after the retailer announced it had bought outdoor pursuits chain Go Outdoors. JD Sports paid £112.3m cash consideration, and has assumed net debt of around £16m as part of the transaction, which it had been pursuing for months. The retailer said the deal will complement [...]