Dr Martens yet to see cost of living crisis hit as revenue jumps November 24, 2022 Dr Martens is yet to see the impacts of the cost of living crisis in the UK, as it keeps its outlook firmly in place. The footwear retailer enjoyed a revenue jump of 13 per cent to £418.6m in the six months to the end of September. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) [...]
Mothercare hires new top boss as Covid recovery ‘taking time’ November 24, 2022 Baby clothes seller Mothercare has named Dan Le Vesconte as its new CEO, as the retailer admitted that a recovery to pre-pandemic trading was “taking time.” The Watford-based company is seeking to recover from a torrid pandemic, which shuttered some 79 high street stores after collapsing into administration just before the first Covid lockdown. Le [...]
B&Q owner says DIY sales driven by household energy concerns as profit forecast trimmed November 24, 2022 Kingfisher has seen customers forking out to improve their household energy efficiency, as the B&Q owner shaved its full-year profit outlook. In a trading update for the third quarter, the retail titan posted sales of £3.3bn, a 0.2 per cent boost on the previous year. The Screwfix owner previously reaped the rewards of a pandemic [...]
eBay UK chief slams Royal Mail strikes for impact on small businesses November 24, 2022 Ebay’s UK chief has slammed posties’ strike action, saying small businesses are being caught in a “crosshairs at the very time they most need support”. Writing in Morning Wire, Murray Lambell said smaller e-commerce firms were the “lifeblood” of the economy and must be protected during this festive season. “The last two festive trading periods [...]
Feeling the chill: Hospitality bosses fear energy firms are profiteering in a crisis November 24, 2022 Hospitality bosses have accused suppliers of “deliberately profiteering” of the energy crisis, writes Morning Wire
MPs: Boohoo warehouse mistreatment reports ‘wake-up call’ for ministers November 23, 2022 MPs have dubbed reports of worker mistreatment at a Boohoo warehouse as a “wake-up call”. The fast fashion firm said a report in The Times newspaper was not reflective of the working conditions at its Burnley warehouse. After a reporter spent a month working at the site this summer, the newspaper claimed there were “gruelling [...]
Boohoo accused of sexism for Ronaldo tweet saying ‘girlies’ have ‘no need’ to watch football November 23, 2022 Boohoo has been accused of sexism for a tweet saying women have “no need” to watch football after Cristiano Ronaldo’s departure from Man United. The fashion brand’s social media post led to a furious reaction, with users saying the tone was “patronising”, while another accusing them of sexism. This comes after the England Women’s football [...]
Ex JD Sports’ boss Peter Cowgill makes retail return with top job at The Fragrance Shop November 23, 2022 Former head of JD Sports Peter Cowgill has been named by online perfume seller The Fragrance Shop as its new chairman. Cowgill departed the sneaker seller earlier this year after a slew of controversies, following decades at the helm of the retailer. He is to take on the job of non-executive chairman immediately, as the [...]
Simpson’s Tavern raises £100k in crowd-fund amid ‘fight to preserve history’ November 23, 2022 The Simpson’s Tavern has raised £100,000 from public donations, amid a battle to save the City chophouse. Simpson’s, known as a City institution, was served with a winding up petition as a result of rent arrears accrued during the pandemic. Its general manager Benjamin Duggan launched a fund-raising campaign in a bid to save the [...]
Halfords focusing on offering shoppers more essentials as they slash discretionary spending November 23, 2022 Halfords must transform into offering more essential products as shoppers trim back discretionary purchases, bosses said on Wednesday morning. The cycling specialist said that a switch-up to selling more “needs-based” items was key as the firm must become less “reliant and exposed to the volatility of more discretionary product markets.” It warned it was expecting [...]