Winding-up petition issued to fashion firm by suppliers owed millions of pounds The online clothing retailer Missguided is teetering on the brink of collapse after being issued a winding-up petition by clothing suppliers who are owed millions of pounds. The fast fashion company, which made headlines with its £1 bikini three years ago, is understood to be... Continue Reading →

// Footfall on London’s Oxford Street is still 52% lower than pre-pandemic levels, new analysis suggests // Around 1.15m people visited the popular shopping street in April this year, compared to 2.41m in April 2019 Footfall on London’s Oxford Street is still 52% lower than pre-pandemic levels, making it the worst hit high street across the UK.... Continue Reading →

The nationwide retailer founded on a Lancashire market stall in 1970 has hired Interpath Advisory to court potential buyers, Sky News understands. A family-owned fragrances retailer founded on a Lancashire market stall more than half a century ago has appointed advisers to explore a sale. Sky News understands that Bodycare, which trades from more than 100... Continue Reading →

Good times.Photographer: ADRIAN DENNIS/AFP Andrea Felsted25 May 2022, 10:59 BST Britain’s retail stalwart emerged from Covid in excellent shape. Unfortunately, the good times are coming to an end. “Never the same again” was the name Marks & Spencer Group Plc gave to its effort to transform in the wake of Covid-19. But perhaps “Never had it so good”... Continue Reading →

Abercrombie & Fitch shares plummeted on Tuesday after the company reported a shock loss and revealed its inventories had surged from a year ago. The company posted a net loss of $14.8 million for its first fiscal quarter — compared to net income of $42.7 million a year earlier. The net loss worked out as... Continue Reading →

The Very Group called off an IPO last year due to stock market volatility // The Very Group owners, the Barclay family, is targeting floating the business in mid-2023 // The online retail group had been gearing up to an IPO last year but called off plans amid growing volatility over tech stock The Very Group... Continue Reading →

May 20, 2022 Retail CEO pay: Which bosses get paid the most? Executive pay has hit the headlines of late after it emerged that Tesco boss Ken Murphy was paid a whopping £4.74m last year. Murphy’s pay packet swelled due to a £3.21 million bonus – the highest yearly reward paid out by the supermarket since... Continue Reading →

JOHANNESBURG, May 17 (Reuters) - South African grocery and clothing retailer Pick n Pay (PIKJ.J) aims to cut costs by 3 billion rand ($187 million) in the next three years and grow its market share by 3% under a new strategy, CEO Pieter Boone said on Tuesday. One of the country's largest retail chains is seeking to... Continue Reading →

By Tatiana Walk-Morris Courtesy of Google Dive Brief: Google on Wednesday announced it is opening a retail store in Williamsburg, Brooklyn, as the first of its upcoming neighborhood stores that pay homage to their surrounding communities, according to a press release. It is the company’s second store in New York City, following the opening of a flagship store in... Continue Reading →

Mukesh Ambani-owned Reliance IndustriesLtd plans to submit a bid for Boots UK, a British medical retail chain, by month-end in a transaction which would cost as much as $10 billion. The acquisition would be the first big ticket overseas investment by Reliance after the company made a string of acquisitions in the American shale gas industry. The... Continue Reading →

May 15, 2022 Suitors who have thrown their hat in the ring include private equity firms Apollo, TDR Capital and Sycamore. Boots’ American owner has withdrawn over $5.3 billion (£4.3 billion) of dividends from its UK holding companies, despite raking in hundreds of millions of pounds of government pandemic support cash.The high street chemist’s UK-based... Continue Reading →

FILE PHOTO: Customers buy grocery items inside a superstore of Reliance Industries Ltd, in Mumbai By Abhirup Roy and Aditya Kalra MUMBAI (Reuters) - India's biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two... Continue Reading →

Massmart-owned retailer Game has launched a new online store which it says forms the next step in its turnaround strategy. The store has been supported by an investment from Massmart and a dedicated support team in Walmart’s global tech hub in Bangalore, India, the group said. Game said the new website is equipped with new features, functionalities,... Continue Reading →

Made.com has acquired online platform Trouva in an effort to grow its marketplace business. Trouva’s is a sales platform for independent boutiques and brands, and provides customers with a curated range of homewares, lifestyle and fashion products. The marketplace will continue to operate as a standalone brand led by the current leadership team of chief... Continue Reading →

Morrisons buys McColl's beating Asda owners EG Group Morrisons is to snap up McColl’s after winning a battle against Asda owner EG Group to gain control of the convenience chain. The Bradford-based grocer emerged victorious with a bid that will preserve all 1,100 McColl’s stores and 16,000 staff, according to Sky News. An improved offer that... Continue Reading →

Shoppers walk past a shuttered high street shop in Halifax(Photo: Daniel Harvey Gonzalez/In Pictures via Getty) High street landlords who allow shops to lie empty for more than a year will be forced to rent them out under government plans to revive town centres. New legislation in the Queen’s Speech next week will also allow pubs... Continue Reading →

Convenience store chain McColl's is on the brink of collapse, placing thousands of UK jobs at risk. The retailer said it was "increasingly likely" it would fall into administration unless talks around a rescue deal were successful. It said that discussions about securing the future of the business are ongoing. More than 16,000 people are... Continue Reading →

PHARMACY, health and beauty retailer Clicks said yesterday that its interim retail sales increased 13.6 percent, bolstered by market share gain and a robust expansion of its stores and pharmacy network. The company said its clubcard membership grew and accounted for 81 percent of the group’s sales in the six months. In an interview, Clicks... Continue Reading →

This is the third US Apple Retail store to seek unionization. An Apple retail store located in the Towson Town Center Mall in Maryland announced today that it has filed for a union election. In a press release, International Association of Machinists and Aerospace Workers (IAMAW) organizer Dave DiMaria announced that the employees at the Maryland-based... Continue Reading →

Next first quarter sales up as it remains on track to deliver profits rise Next has maintained its profit guidance for the year after its sales jumped 21.3% in its first quarter. The retailer said this was in line with expectations and is still on track for pre-tax profit to hit £850 million for the year,... Continue Reading →

Daphne Howland/Retail Dive If there’s one thing that’s become predictable at J.C. Penney in the last decade or so, it’s constant change. The company has had five chief executives in that time, each with their own ideas about how to turn over its steadily declining fortunes. That included efforts like restoring and then again ending appliance sales,... Continue Reading →

Asda chairman Lord Stuart Rose has criticised the Bank of England and ministers for being too slow to react to the inflation crisis. Rose also said politicians should intervene over high food prices, warning that they could remain elevated for “quite some time”. “I think the government and the Bank of England have been slow to... Continue Reading →

A Lidl store (Image: Derby Telegraph) The German supermarket plans further expansion in the region over the coming years Lidl has named 11 North Wales towns where it wants to build new stores. The German brand published the latest list and also launched a reward scheme for anyone suggesting a site that comes to fruition. In... Continue Reading →