The move is part of the company’s ongoing restructuring efforts, following previous store closures in 2023 and related financial challenges. New Look store in London. Credit: Matthew Troke via Shutterstock. Popular UK-based fashion retailer New Look is set to close three of its stores over the coming weeks.  According to Worcester News, the Riverside Shopping... Continue Reading →

Lush managers received £5m in bonuses last year after the retailer claimed £5.1m in state support and reported a 90% drop in profits, The Guardian reported. The bonuses were paid on top of the salaries given to directors, which include co-founder Mark Constantine, his wife Mo and six staff at Lush Cosmetics – the retailer’s main... Continue Reading →

The UK has lost a massive 6,000 physical retail stores in the last five years with the North and the Midlands hit the hardest, according to the British Retail Consortium (BRC).Photo: Pexels The organisation cited “crippling business rates and the impact of the Covid lockdowns the key part of decisions to close stores and think... Continue Reading →

More House of Fraser stores could be set to close, Frasers Group has warned. The retailer’s chief executive Michael Murray said House of Fraser’s portfolio was “continually under review” and that some outlets were still “too big and we have to find solutions for the excess space”. The news comes after the business has suffered numerous store closures, with... Continue Reading →

Mike Ashley, the retail mogul has offered nearly £50m to acquire an outlet shopping centre on the outskirts of Leeds, marking his latest foray into the world of retail property, the Times reports. The billionaire owner of Frasers Group, has tabled the offer for Junction 32, which lies just off the M62, near Castleford. The 250,000 sq ft outlet shopping centre... Continue Reading →

People shop clothes with a "Final clearance Sale" advertisement at a clothing store, at the Trade Route Mall, in Lenasia outside Johannesburg, South Africa, February 8, 2023. REUTERS/Siphiwe Sibeko/File Photo JOHANNESBURG, July 19 (Reuters) - South African retail sales fell 1.4% year on year in May after declining by a revised 1.8% in April, Statistics... Continue Reading →

NEW DELHI: Shares of Reliance Industries(RIL) on Wednesday jumped 2% amid a report that billionaire Mukesh Ambani may rope in Qatar Investment Authority (QIA) to pick up a minority stake in Reliance Retail. Qatar’s sovereign wealth fund is in talks to buy stake in Reliance Retail and is said to be considering a $1 billionn investment giving it a stake of... Continue Reading →

City AM is handed out at Bank Station in London (Stefan Rousseau/PA)(PA Archive) It is understood that THG is seeking to purchase the business publication in a pre-pack administration process. Sign up to our free breaking news emails Online retail group THG is in talks over a surprise deal to buy business newspaper City AM.... Continue Reading →

Asda and Morrisons paid no corporation tax last year in the wake of their private equity buyouts. The pair paid an average of more than £200m of corporation tax a year between then in the decade preceding their acquisitions. However, as they made losses last year – mostly due to large interest payments on the debts... Continue Reading →

Angam Parashar, cofounder & CEO at ParallelDots. ShelfWatch by ParallelDots enables CPG and retailer to improve their retail execution. As lockdowns affected us in 2020, demand for many household products went up and stocked-out retail shelves became a common sight globally. At the same time, e-commerce showed unprecedented growth. Later in 2021, the global economy was... Continue Reading →

Apple retail store staff will soon be able to offer customers home delivery during the ordering process, rather than having to carry purchased products home themselves. Writing in his latest Power On newsletter, Bloomberg's Mark Gurman reports that the EasyPay machines Apple salespeople use when processing in-store product purchases are set to include an option for home shipping for... Continue Reading →

Published today Jul 24, 2023 Fashion retailer Superdry is shutting eight of its 104 UK stores in 2023. However, the brand stressed the decision wasn’t part of its own cost-cutting measures revealed this year but a decision by a franchisee operating under licence to close its operations.Superdry A Superdry spokesperson told Retail Gazette: “The majority of [our[ stores in... Continue Reading →

Under Armour has opened the doors to its newest UK store on 242-248 Oxford Street. The world’s fourth-largest sportswear brandhas embarked on a store opening spree in the UK, as looks to expand its bricks-and-mortar footprint across Europe, the Middle East and Africa. UA Oxford Street houses the retailer’s latest performance products across co-gender training and... Continue Reading →

People shop clothes with a "Final clearance Sale" advertisement at a clothing store, at the Trade Route Mall, in Lenasia outside Johannesburg, South Africa, February 8, 2023. REUTERS/Siphiwe Sibeko/File Photo JOHANNESBURG, July 19 (Reuters) - South African retail sales fell 1.4% year on year in May after declining by a revised 1.8% in April, Statistics... Continue Reading →

TOKYO, July 13 (Reuters) - The Japanese operator of apparel retailer Uniqlo reported record third-quarter profit on Thursday and raised its full-year forecast as its business in China continued to recover from a pandemic slowdown. Fast Retailing (9983.T), known for its fleece jackets and inexpensive basics, has 925 Uniqlo outlets in mainland China - more than... Continue Reading →

Image Courtesy: http://www.theindustry.fashion Hollister overhauls to tap impulse buying opportunity Hollister Co., and its sibling brand Gilly Hicks have both introduced new store concepts at Liverpool One. The pair initially disclosed plans for the merged store in February 2023, and the retail facility has now officially opened, bringing all Abercrombie & Fitch-owned brands under one... Continue Reading →

Sainsbury's is planning to close more Argos depots over the coming months in the UK that will impact thousands of jobs. Photo: Henry Nicholls via Reuters. A look at the Argos depots set to close in the coming months across the UK British catalogue retailer Argos, which is owned by Sainsbury's, is planning to close... Continue Reading →

Image Courtesy: Gettypic UK shoppers have showcased their love for online shopping by spending a staggering £ 581 million during the highly anticipated Amazon Prime Day event. This year’s figures follow the trend set in the previous year, where global shoppers collectively splurged over US $ 3 billion on more than 100 million products from... Continue Reading →

Burberry has posted an 18% rise in it first-quarter comparable store sales for the 13 weeks ending July 1, reaching revenues of £589m during the first quarter of the year. Boosted by a continued recovery in its biggest market China, the luxury British fashion retailer’s core categories including outerwear and leather goods also performed well, said CEO... Continue Reading →

Selfridges has unveiled Selfridges Unlocked, its new loyalty scheme giving holders automatic free shipping on orders over £150, as well as first access to events, services and product launches. According to Drapers, the luxury department store‘s new offer will also automatically make a donation to its charity partner Centrepoint on behalf of the customer after each purchase made. Customers can opt... Continue Reading →

JD Sports aims to open between 200 and 300 new stores each year over the next five years. Image: Reuters Retail conglomerate GMG has signed an agreement with global sportswear retailer JD Sports to introduce it to the Middle East market, with a particular focus on the UAE, Saudi Arabia, Kuwait and Egypt. Once JD... Continue Reading →

Potgieter will also serve as a member of the audit and risk committees. He is a chartered accountant and has extensive senior level experience in the manufacturing, retail and supply chain sectors, having most recently served as the chief executive officer of Italtile Limited and formerly CEO of Massdiscounters (a division of Massmart). He also... Continue Reading →

The retail sector has not been spared from the difficult economic environment facing South Africa in 2023.  According to the latest Rode’s Report on the South African Property Market, the retail property market’s strong comeback in 2022 has been diminished by the sector feeling increased pressure in 2023, with retail sales dropping and vacancy rates... Continue Reading →

Sephora is set to open a second location in London this November, just eight months after it unveiled its debut store. The beauty retailer is understood to be exploring a second branch at Westfield Stratford City in east London, WWD reported. The LVMH-owned retailer returned to the UK market after 18 years this year with a... Continue Reading →

Wilko is racing to secure fresh funding as it prepares to push ahead with its restructuring plan. The struggling value retailer is working with advisers as it strives to raise tens of millions in additional equity. It comes as Wilko works with property firm CBRE to pull together plans to undertake a CVA in order to reduce... Continue Reading →

Argos is set to shutter 100 stores in the UK over the next year as it closes more locations starting next month. The retailer‘s high street branches are being replaced by concessions inside owner Sainsbury’s. Locations in Cardiff and Newport will be the next to go, alongside branches in Hull, Grimsby and Scunthorpe, according to The... Continue Reading →

H&M’s UK & Ireland operation is trialling its new Keep-The-Presence concept for the first time globally, “enabling the brand to maintain its physical presence to serve local customers and keep high streets thriving”.H&M Its Market Street store in Manchester is the first testbed for the concept. Currently undergoing a rebuild, it’s staying open to customers... Continue Reading →

Tesco has named retail veteran Gerry Murphy as its new chair to replace John Allan who stepped down last month following allegations of misconduct. The former Kingfisher boss and current chair at Burberry Group and Tate & Lyle will start his new role on the grocery giant‘s board on 1 September. Murphy said he’d be stepping down from his... Continue Reading →

From left: Gori Yahaya of UpSkill Digital; Jess Gray and Becca Stern of Mustard Made; Lucy Greenwood of Lucy & Yak; Kuldeep Knox of Chāmpo; Phil and Tom Beahon of Castore; Andrew Mason of Pentest People Join Talent, a remote-first outsourced recruitment specialist founded in 2018, tops this year’s list Richard TylerJune 30 2023, 12.01am... Continue Reading →

The luxury fashion brand Burberry reopens its flagship store in New Bond Street, London with a full transformation of the store including exterior and interior display. The store’s interior follows Burberry’s aesthetics of luxury and posh revealing a minimalist interior mixed with contemporary furniture, as well as its signature check lines through the overhead lights.... Continue Reading →