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Sports Direct's Mike Ashley fails in bid to become Findel chairman

Friday 29 July 2016 - Posted by Elias Jahshan

Sport’s Direct chief executive Mike Ashley’s bid to become chair of express gifts retailer Findel has failed, after the home shopping group decided not to appoint him to the role. At its annual general meeting today, Findel also revealed a 5.3 rise in sales. Earlier this month...

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Comment: With Brexit now happening, what’s in store for retail?

Friday 29 July 2016 - Posted by Andy Brian, Retail Partner, Gordons

The UK’s decision to leave the EU following the recent referendum has, perversely, created huge uncertainty – and the retail sector is no exception. The only certainty is that nobody can be sure of what the future holds. While the initial reaction to Brexit was one of surprise...

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Comment: Rising cost of living threatens high street retail

Friday 29 July 2016 - Posted by Dominic Celica

The high street is under threat from the rising cost of living and crippling student debt. By the time students graduate, they'll have a minimum of £30,000 owed to the Student Loans Company and with rising interest rates on the repayments, coupled with average rental costs of ...

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Comment: Online sales are up, but are retailers making the most of it?

Friday 29 July 2016 - Posted by Hedley Aylott, Summit CEO And Co-Founder

Recent IMRG figures show that more people than ever are spending online, with online sales rising 17 per cent year-on-year in June. A hugely positive sign for the sector, this growth indicates a considerable shift in consumers’ confidence in online shopping. However, retailers...

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Shopping centre firm intu posts strong half-yearly figures

Friday 29 July 2016 - Posted by Elias Jahshan

Retail firm intu has posted strong figures in its half year report, with increasing rental income and occupancy as well as increasing footfall across all of its shopping centres in the UK and Spain. The company, regarded as the UK’s leading owner and developer of regional shop...

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Competition watchdog approves £125m LloydsPharmacy takeover of Sainsbury's pharmacies

Friday 29 July 2016 - Posted by Elias Jahshan

The national competition watchdog has given a conditional greenlight for LloydsPharmacy to acquire 270 pharmacies from Sainsbury’s for £125 million. Under the terms of the transaction set out to the Competition and Markets Authority (CMA), LloydsPharmacy will obtain 281 pharma...

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Consumer confidence drops to lowest level since 1990

Friday 29 July 2016 - Posted by Elias Jahshan

Confidence among consumers has dropped to its lowest level in 26 years thanks to the Brexit referendum, according to the latest data from research institute GfK. British consumer morale plunged to -12 this month – compared to -1 in June – the biggest decline in the monthly Con...

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Amazon exceeds earnings expectations in latest quarterly report

Friday 29 July 2016 - Posted by Elias Jahshan

Amazon has reported better-than expected earnings in its second quarter, bolstered by its cloud computing. The online retailer’s reported earnings of $857 million (£650 million) and its sales spiked by 31 per cent to $30.4 billion (£23 billion) – a figure that exceeded last ye...

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Shop Direct hires its first business development director

Thursday 28 July 2016 - Posted by Elias Jahshan

Shop Direct has hired its first business development director to help grow commercial partnerships, as the UK’s second largest pureplay online retailer continues its rapid growth. Sally-Anne Newson, who started at Shop Direct on last week, brings 16 years of retail experience ...

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Number of retail outlets and employees in biggest slump since 2014

Thursday 28 July 2016 - Posted by Elias Jahshan

New data released today has shown that the number of full time retail employees dropped to its lowest rate in two years, with job cuts across the food sector attributed as the main reason. According to the British Retail Consortium’s (BRC) latest quarterly Retail Employment Mo...

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