Top 5 news stories to read today

Here's your daily roundup of the top news stories.

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op 5 stories to read today - Nike CEO Mark Parker resigns, Ebay will donate $1 whenever a retailer overuses a Christmas buzzword, UK retailers’ store profit margins have halved, A RoyalMail strike on Black Friday would leave millions of items undelivered, Costcutter bags delivery deal with Uber Eats.
Top news stories from October 23rd.

1. Nike CEO Mark Parker resigns

Nike’s longtime chief executive Mark Parker is stepping down early next year, as the sportswear giant pivots towards digital and direct-to-consumer strategies.

Parker will be replaced by board member John Donahoe, who is also a former PayPal executive and a former chief executive of eBay.

2. Ebay will donate $1 whenever a retailer overuses a Christmas buzzword

Ebay has pledged to donate a dollar every time a retailer overuses #HolidayJargon as it seeks to fight premature and “over the top” Christmas promotions.

Its “Holiday Jargon Jar” initiative will see the online marketplace donate $1 (up to $50,000) every time one of 2000 major brands uses one of the top 100 holiday buzzwords like “merry”, “mistletoe” or “tis” and “twas”.

3. UK retailers’ store profit margins have halved in the last 8 years

Store-based profit margins have more than halved over the past 8 years, according to new research.

Soaring operating costs, inflexible legacy lease structures and changing shopping habits have contributed to the fall

4. A RoyalMail strike on Black Friday would leave millions of items undelivered

A Royal Mail strike on Black Friday would cause millions of packages to be undelivered representing a “major threat to UK retail”.

A Royal Mail strike on Black Friday would cause millions of packages to be undelivered representing a “major threat to UK retail”.
CWU are striking over Christmas due to an ongoing dispute with the Royal Mail

Strike action is due to take place on unspecified dates across the Christmas period, after the Communications Workers Union voted by an overwhelming majority to take action, threatening the first national postal strike in a decade.

According to BearingPoint’s partner Stuart Higgins, this is likely to have a “huge impact on the British Public”.

5. Costcutter bags delivery deal with Uber Eats 

Costcutter has struck a deal with delivery service Uber Eats in a bid to ease the shopping service for its customers.

The partnership means over 1700 Costcutter stores will be able to sell everyday items via the Uber Eats app, The Telegraph reported.

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