Ecommerce needs a new approach to fraud prevention September 26, 2019 In 2018, global ecommerce sales reached £2.27 trillion – a staggering number, and an 18 per cent increase over 2017. That growth will continue, as ecommerce reaches new markets and consumers become more comfortable with shopping online. It’s a huge opportunity for retailers, but there’s a risk that threatens to hold it back – fraud. Ecommerce purchases [...]
Are UK supermarkets ready for Brexit? September 25, 2019 “One can say very clearly what the direction will be: higher prices, less choice, and poorer quality, because all of those dimensions have been improved by these open trading relationships that we’ve had over the last 40 years […] Brexit, almost in whatever version it is, will introduce friction, it will introduce barriers. That makes [...]
Ebay chief executive steps down September 25, 2019 Ebay chief executive Devin Wenig has stepped down as the online retail giant presses ahead with a potential asset sale. Chief finance officer Scott Schenkel has been appointed as interim chief executive while the board searches for Wenig’s replacement. Ebay said it would continue a strategic review of its assets that began in March. The [...]
Oasis and Warehouse profit rises as retailer mulls cuts September 25, 2019 Oasis and Warehouse Group reported a return to profit in its latest full-year results as the retailer prepares to cut jobs and contracted hours across its store portfolio. The high street chain said this morning that profit before tax was £1.6m, compared to a loss of £10.1m the previous year. Total sales were up 6.5 [...]
Retail sales decline slows in September September 25, 2019 Retail sales fell for the fifth consecutive month in September, however they declined at a slower pace than in August. Sales fell 16 per cent this month, compared to a drop of 49 per cent in August. Retailers said they expect sales volumes to fall by five per cent next month. Orders placed on suppliers [...]
International growth boosts Boohoo profit September 25, 2019 Boohoo revenue and profit soared in the first half of the year driven by strong international growth at the fast fashion brand. The figures Revenue soared 43 per cent from £395.3m in the first half of 2018 to £564.9m in the first six months of this year. The company’s revenue was more than £1bn over [...]
Sainsbury’s plans local supermarket expansion as it quits mortgage market September 25, 2019 Around 110 new Sainsbury’s Local stores will open up across the country, the supermarket announced today as it closed a swathe of stores and pulled out of the mortgage market. Weeks after reports emerged of a major shake up at Sainsbury’s Bank, the store confirmed that it would immediately stop new mortgage sales. It is [...]
Why as an investor I’m looking through Brexit fears September 24, 2019 Following the twists and turns in Westminster of the past few weeks I expect many more market participants will simply place UK equities in the “too difficult” basket. Anecdotal stories of overseas investors selling their last UK stocks could start doing the rounds again. Brexit and political uncertainty have been a drag on UK equities, [...]
Bottling it: Moss Bros launches recycled eco suit as boss warns of store closures unless landlords lower rent September 24, 2019 Tailoring company Moss Bros this morning said it will launch a new suit made from up to 45 recycled plastic bottles as the company showed a widening loss. The new eco-friendly suits come as world leaders meet in New York for a UN climate conference. Read more: Moss Bros issues profit warning, blaming World Cup [...]
Timeline – Thomas Cook’s humble beginnings to a billion-pound collapse September 23, 2019 Thomas Cook’s insolvency has left hundreds of thousands of people stranded abroad, and cost tens of thousands of jobs in the UK. But it has been a long time coming. With debts ballooning over the last 10 years and a near-miss in 2011, Britain’s oldest travel firm has endured a bumpy ride in recent years [...]