City Moves for 5 November – Who’s switching jobs at AKA Group, Shop Direct and KPMG? November 5, 2019 Today’s City Moves includes AKA Group, Shop Direct and KPMG AKA Group Specialist lifestyle and leisure advertising agency AKA Group has announced the appointment of Nick Hurrell as chairman. Nick currently serves as chairman at London ad agency George and Dragon and was previously chairman of the Europe arm of M&C Saatchi, as well as being [...]
Business groups warn South Western Railway strikes will hurt Christmas trade November 6, 2019 Business groups have slammed the rail union’s planned December South Western Railway strikes, predicting they will cause major disruption to Christmas trade. Drivers and train guards from South Western Railway (SWR) are planning on walking off the job for 27 days in December. Read more: RMT union announces 27 days of South Western Railway strikes [...]
Us versus them will do nobody any good on the High Street January 14, 2021 While a new year symbolises a fresh start for many, you could be forgiven for thinking you had been planted in the film Groundhog Day but instead the calendar was stuck in 2020. Perhaps nowhere is this more the case than in the retail and hospitality industry, with Lord Sugar’s legal challenge to the planned [...]
Retail footfall drops again in August as economy slows September 9, 2019 The number of Britons venturing out to visit shops fell again in August, bringing yet more problems for a retail sector that has suffered a number of casualties this year. Read more: Hot weather fails to heat up retail sales in August Footfall fell by 1.3 per cent in August year on year, compared to [...]
Shop prices fall as retailers tempt customers with discounts July 31, 2019 Shop prices fell this month as retailers attempted to attract reluctant customers with heavy discounting. Prices deflated by 0.1 per cent in July, driven by a 1.2 per cent drop in the price of non-food items such as electricals and clothing and footwear. Read more: Shop price inflation gathers pace in May The fall in [...]
More than 70,000 retail jobs lost amid high street struggles July 25, 2019 More than 70,000 retail jobs were lost over the last year as high street stores battle slowing sales and changing consumer habits. The total number of employees fell by 2.3 per cent in the second quarter, amounting to around 72,000 jobs being lost year-on year. Read more: Joules defies retail anguish with growth across the [...]
Retailers warned to ramp up contingency plans as sales growth slumps September 3, 2019 Retailers were warned to prepare for further political and economic turbulence as like-for-like retail sales growth dipped last month in the latest blow for the UK high street. Bricks and mortar sales, not including food products, decreased by 0.5 per cent on a like-for-like basis from August last year. Read more: Retail sales get surprise [...]
Dear politicians: What the City wants to see in your election manifesto October 29, 2019 With the news of a potential December election hanging in the balance today, the City is bracing itself for another potential new government in Downing Street. Yet while much of the debate in the coming weeks is likely to be centred on Britain’s imminent departure of the EU, the financial sector is hoping to see [...]
Retailers ramp up challenges to business rates as high street woes deepen August 18, 2019 The number of businesses challenging their rates bill has soared over the last quarter as retailers continue to feel the squeeze from tough conditions on the high street. Roughly 4,000 challenges were made in the first quarter this year, a 65 per cent increase on the previous three months, according to figures from City law [...]
Asos prepares job cuts as sales slump July 7, 2019 Around 100 jobs are at risk at Asos’s London headquarters as the online retailer battles with slumping sales. The fast-fashion brand is consulting on a round of redundancies, which will mainly affect the marketing department, the Sunday Times reported. Read more: Eurozone retail sales see suprise fall in May Asos issued a warning in December, [...]