Category Archives: Retail industry

Almost 50 UK shops closed for good every day in 2022, says report

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Centre for Retail Research says 17,145 stores shut in total, up almost 50% on 2021, during pandemic

Last year was a “brutal” one for Britain’s retail sector, with more shops shutting down than at any other point in the last five years, and 2023 will be similarly challenging, according to industry groups.

About 47 shops on average pulled down their shutters for the final time every day last year, according to analysis from the Centre for Retail Research (CRR). It found a total of 17,145 shops on high streets and in other locations closed for good over 2022. This is up almost 50% on the 11,449 shops closed in 2021, during the Covid pandemic.

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Gymshark founder who launched £1.25bn empire in parents’ garage awarded MBE

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Ben Francis, 30, among slew of businesspeople recognised for services to commerce and economy in new year honours list

The 30-year-old founder of the exercise clothing brand Gymshark has been awarded an MBE in the new year honours list, – just one of a slew of businesspeople to be recognised for their services to commerce and the economy.

Ben Francis, who began his £1.25bn empire sewing his own gym clothes in his parents’ garage in Bromsgrove, near Birmingham, in 2012, is the youngest of those to be honoured for their services to business.

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UK retailers face quieter Boxing Day amid cost of living crisis

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An estimated £3.8bn will be spent on 26 December, down almost 4% on last year

Retailers are preparing for a quieter Boxing Day this year despite freedom from pandemic restrictions as the cost of living crisis weighs on shoppers’ budgets.

Spending is expected to hit almost £3.8bn on 26 December, according to research by GlobalData for Vouchercodes.

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Coles recalls popular cheese from supermarkets over E coli fears

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Traces of contaminant found in Coles Finest Australian Organic Washed Rind Raw, sold in Victoria and Tasmania

A popular cheese has been pulled from supermarket shelves after traces of a dangerous contaminant were discovered.

The product in question – Coles Finest Australian Organic Washed Rind Raw – has been available for sale online and in-store throughout Victoria and Tasmania since 14 December.

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Thai police raid former Tesco clothing supplier at centre of sweatshop claims

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VK Garment factory in Mae Sot is subject of a UK lawsuit against the supermarket from 130 ex-workers

Thai police have raided a clothing factory previously used by Tesco that is the subject of a UK lawsuit over alleged sweatshop conditions.

The Guardian revealed earlier this week that Burmese workers who produced F&F jeans for Tesco in Thailand reported being trapped in, in effect, forced labour, working 99-hour weeks for illegally low pay in appalling conditions.

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More pain for online retailer THG as top insurer reduces cover

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Cut-back of cover for suppliers is latest in a series of headaches for founder of the troubled business

The troubled online beauty retailer THG faces more pain after a leading credit insurer reduced cover to its suppliers.

The Guardian can reveal that Allianz Trade, one of the UK’s largest credit insurers, cut back cover for suppliers to the beauty-to-nutrition retailer, formerly known as the Hut Group, in recent weeks.

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Elon Musk polls Twitter users over stepping down as CEO – business live

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Elon Musk says he will honour the results of a Twitter poll asking whether the should resign as head of the social media platform

Telsa investors seem to pleased with the way that Musk’s Twitter poll is leaning towards his potential resignation, with shares up 4% in pre-market trading:

Economic data interlude:

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UK retailers expect subdued build-up to Christmas amid icy weather and strikes

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Footfall likely to increase less than in previous years as shoppers struggle with cost of living crisis, say analysts

The UK retail industry is braced for a muted end to the Christmas shopping period as poor weather and strikes weigh further on consumers whose spending is already under pressure from the increased cost of living.

Analysts at the data company Springboard said they expected the number of shoppers at retail destinations across the UK to rise by 4.5% in high streets, 5% in retail parks and 10% in shopping centres in December compared with November. However, those footfall increases would be smaller than previous years.

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David Jones to be back in Australian hands after sale to private equity firm

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Anchorage Capital Partners will acquire the 185-year-old company from South African-based Woolworths Holdings Limited

Department store chain David Jones will be back under Australian ownership, after being bought by a private equity firm.

Anchorage Capital Partners on Monday announced it would acquire the 185-year-old brand after reaching an agreement with previous owners, South African-based Woolworths Holdings Limited.

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UK high street faces post-Christmas ‘flurry of failure’

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Lacklustre festive sales leaving retailers low on funds needed to cope when shoppers traditionally tighten belts in new year

The high street could face a “flurry of business failures” in the new year, as a lacklustre Christmas sales period is leaving retailers low on the funds needed to cope when households tighten their belts after the festive season.

“We can expect more consolidation and high street casualties as we head into the new year. It will be yet another tough year for retail and a case of survival of the fittest,” said Paul Martin, UK head of retail at KPMG.

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Amazon agrees deal with Games Workshop to create Warhammer TV series

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Former Superman star Henry Cavill linked to project, and agreement includes film and merchandise plans

Amazon has struck a deal with the high street games chain Games Workshop to create a series based on its hit franchise Warhammer, the science-fiction fantasy miniature war game, potentially featuring the former Superman star Henry Cavill.

The London-listed Games Workshop, which has a £2.7bn market value and runs about 530 stores, has struck a deal with Amazon to develop the company’s intellectual property into film and TV productions as well as sell merchandise.

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Two in five people experienced parcel delivery issues last Christmas

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Consumer group Which? said many packages were thrown in ponds, arrived late or were left in the rain

Parcels chucked over fences into ponds, packages hidden in bins and laptops left out in the pouring rain – these are just some of the Christmas parcel delivery failures reported by consumers.

A delivery of pet tarantulas delayed overnight in transit was one of the strangest parcel problems reported to consumer group Which? in a survey of festive delivery difficulties.

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Lingerie firm Agent Provocateur under pressure over Moscow franchise stores

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Retailer among companies listed by Leave Russia project but says it does not itself operate there

In its three decades in British retail, the lingerie brand Agent Provocateur, the 1990s brainchild of Dame Vivienne Westwood’s son, has rarely shied away from controversy.

Whether it be its daring window displays or that 2001 TV advert featuring Kylie Minogue riding a velvet bucking bronco, the brand has stirred up some strong emotions. But it had not, until now, been accused of inadvertently helping to finance a war in Europe.

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Hot water bottles sell out around UK as cold snap hits

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John Lewis said sales are up sixfold on last year as people look to save on their heating bills

Hot water bottles are selling out around the UK amid the cold snap and efforts to save on soaring energy bills.

John Lewis said sales were up sixfold on last year with several popular models currently out of stock online including the department store’s own-label version with a fake fur protective cover.

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UK retailers boosted by November sales of winter coats and hot water bottles

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Total sales rose by 4% but figures were helped by inflation masking lower volumes, says BRC

Britain’s retailers benefited from a November sales boost fuelled by Black Friday discounts and colder weather as consumers bought winter coats, hot water bottles and hooded blankets, according to industry data.

In its latest snapshot of high street and online spending, the British Retail Consortium (BRC) said sales growth picked up last month compared with October, despite mounting concern over the cost of living crisis.

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Shein admits working hour breaches and pledges £12m to improve sites

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Chinese fashion retailer responds after Channel 4 documentary alleged 18-hour days with one day off a month

The Chinese fashion retailer Shein has vowed to invest $15m (£12.2m) in improving standards at its supplier factories as it admitted working hours at two sites breached local regulations.

The online brand said an independent investigation, launched after allegations over labour abuse made in a recent UK documentary, had uncovered that employees at two of its Chinese sites were working hours that were longer than allowed.

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UK farmers making tiny profits as supermarkets boast record takings

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Ministers urged to act as study shows average block of cheese or loaf of bread makes farmers less than a penny

UK farmers are receiving negligible profits for many items as food prices rise and supermarkets boast record takings.

An average block of cheese or loaf of bread produces less than a penny for farmers, and fruit producers do not fare much better, making just 3p from each kilo of apples.

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Amazon’s UK tax bill could rise by £29m amid business rates overhaul

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Hikes set to hit warehouses and online retailers hardest in 2023 as UK government addresses ‘brick v clicks’ tax gap

Amazon’s UK tax bill jump could jump by £29m next year as a result of changes to business rates that are scheduled to hit warehouses and online retailers the hardest.

The online retailer is likely to be among firms facing big tax rises following the chancellor’s autumn statement, according to analysis from the real estate adviser Altus Group.

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Amazon warehouse workers stage Black Friday strikes and protests around world

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On one of firm’s biggest shopping days of year, employees demand better wages and conditions

Amazon warehouse workers in the UK and 40 other countries are to strike and stage protests timed to coincide with the Black Friday sales, one of the company’s biggest shopping days of the year.

Employees in dozens of countries, from Japan and Australia to India, the US and across Europe, are demanding better wages and conditions in a campaign called “Make Amazon Pay”.

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Sales boost for B&Q and Screwfix owner amid rush for energy-saving products

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Kingfisher says sales of loft insulation roll more than double while smart thermostats rose by nearly a third

The B&Q owner, Kingfisher, has reported higher sales as fears over higher gas and electricity costs boosted demand for energy-efficient products including insulation roll and smart thermostats.

The retail group, which also owns the hardware trade supplier Screwfix, said customers who invested in a raft of energy-saving DIY products helped increase group sales by 0.6% to £3.3bn in the three months to October. When stripping out the impact of the weaker pound, sales were up 1.7%.

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