Tag : retail
Why the green dividend is paying offSubscription
Fashion brands and retailers are starting to realise the value of the “green dividend” – and coronavirus is forcing businesses to build sustainability into their resilience plans for the future.
The continued lack of clarity surrounding the government’s non-essential retail store reopening advice has left the fashion industry in a “perilous position”, the industry has told Drapers.
J Crew prepares to file for chapter 11 bankruptcy Subscription
Struggling US casualwear brand J Crew is reportedly preparing to file for chapter 11 bankruptcy protection, making it the latest in a string of retailers to collapse amid the coronavirus pandemic.
BRC publishes store reopening guidance Subscription
The British Retail Consortium (BRC) has published guidance to support the reopening of stores, including social-distancing and hygiene measures.
Capri Holdings, owner of Michael Kors, Jimmy Choo and Versace, has announced its first group-wide corporate social responsibility strategy to coincide with the 50th anniversary of Earth Day.
Wrangler surpasses global water goalSubscription
Wrangler has announced it has saved more than 7 billion litres of water in the production of its denim products – equivalent to the daily drinking water needs of almost 4 billion people.
Drapers Investigates: Retail’s long road to recovery Subscription
Drapers’ latest Covid-19 coronavirus survey provides a snapshot of what the post-lockdown retail recovery process will look like.
Queen's Award 2020 fashion winners named Subscription
Several fashion retailers and brands, including Séraphine, Frugi, Celtic & Co and Avenue51, have been awarded this year’s Queen’s Award for Enterprise.
Asos sales sink 25% amid coronavirusSubscription
Asos group sales dropped 20%-25% amid the coronavirus pandemic, after it achieved record interim profits.
Retail bosses call for £6bn corporation tax hikeSubscription
A sub-committee of the Retail Sector Council is reportedly calling for the Treasury to increase corporation tax in order to cut business rates by £6bn.
Retailers take action on propertySubscription
Retailers are seizing the opportunity to take “decisive action” on their property portfolios in 2020, say experts, as restructurings and company voluntary arrangements continue to put downward pressure on rents.
'Worst year on record' for retail Subscription
The prospect of a no-deal Brexit, company voluntary arrangements, shop closures and job losses resulted in the “the worst year on record” for retail in 2019.
Investment firm M&G, which owns shopping centres across the country, has said it will continue the temporary suspension of its £2.5bn M&G Property Portfolio fund “until further notice”.
Record number of retail jobs lost in 2019Subscription
The year of 2019 was one of the worst for UK high streets in the past 25 years, with more than 2,750 jobs within the retail sector being lost each and every week, new research has found.
John Lewis's top trends for 2019Subscription
In its seventh annual Retail Report, John Lewis & Partners has identified the seven biggest fashion trends of 2019, including utility-style jumpsuits, midi dresses and sustainability, as it continues to navigate changing consumer shopping habits.
Four tech innovations pushing retail boundariesVideoSubscription
Israeli innovators gathered at London’s Design Museum in Kensington last week to shed light on the latest retail technologies set to shape fashion businesses.
Latest developments in sustainable store designSubscription
From responsibly sourced materials to in-store recycling schemes, stores offer brands and retailers the opportunity to make their environmental efforts concrete.
Retail vacancy rates hit four-year highSubscription
The retail vacancy rate peaked at 13% in the first half of 2019, new research has shown. This was a 6% increase year on year, and is the highest the rate has been since August 2015.
Retail rents: the race to the bottomSubscription
Retailers are demanding rent cuts in the wake of an avalanche of company voluntary arrangements. But the long-term effect may be to undermine investment in retail property.
Retail sales suffer sharpest decline on recordSubscription
Total retail sales slumped by 2.7% year on year in May, excluding Easter distortions – the steepest decline since records began in 1995.
The retail sector made the joint biggest reduction in the number of workers on low pay last year.
Retail leadership in ‘crisis’, survey findsSubscription
Leadership teams across the retail sector have been deemed “not fit for purpose,” according to a new survey of industry chairs, CEOs and senior executives.
Cashmere and woollen manufacturer Johnstons of Elgin has opened a new store for its eponymous own brand on Multrees Walk, the premium shopping district in the centre of Edinburgh.
Fashion retail's highs and lows of 2018Subscription
As this year comes to a close and a new one approaches, Drapers recaps the twists and turns in the retail industry over the past 12 months
Almost half of 18-to-34-year-olds prefer to shop for clothes in a physical store, a new survey has found.
Countdown to GDPR: are you ready?Subscription
With just over two weeks to go until the new data protection laws come into effect, Drapers asks legal experts for their advice on what retailers can do to ensure compliance – and avoid penalties – at this stage.
Next profits drop after “challenging” yearSubscription
Next has posted an 8.2% fall in operating profit year-on-year to £759.9m, in what the retailer dubbed its “most challenging” year in 25 years.
Drapers visits London landmark Battersea Power Station as it plans to transform into a shopping district to rival Oxford Street and Westfield.
Matalan opens franchises in European pushSubscription
Matalan has made its debut in Gibraltar with two franchise store openings, as part of a push to expand its retail presence in Europe.
Next tipped for profit dropSubscription
Retail giant Next is reportedly expected to post a fall in full-year profits when it reports its results later this week.
Drapers Investigates: Who owns the high street? Subscription
The structure of the UK high street is changing. New fascias are being added to the mix, and the fashion industry has been playing an extended game of “pass the parcel”, as a wave of companies change hands in high-profile acquisitions.
Concept store The Shop at Bluebird, which is owned by the Jigsaw group, has closed its standalone on King’s Road in Chelsea as it prepares to launch its flagship at Covent Garden’s Floral Street in London.
Seasalt to debut in LeedsSubscription
Cornish lifestyle brand Seasalt is set to open its first store in Leeds, after signing for a 1,200 sq ft unit at shopping arcade Victoria Gate.
Plans to pedestrianise London’s Oxford Street have been backed by the public following an online consultation.
Consumer spending on clothing dips in FebruarySubscription
Consumer spending on clothing and footwear has dropped by 1.6% year on year, while expenditure across the board had its weakest start to the year since 2012.
Retail guru Bill Grimsey unveils new taskforceSubscription
Former Wickes and Iceland boss Bill Grimsey is leading a new independent review of Britain’s high streets and town centres, following a string of collapses and closures.
Retail footfall trips up in FebruarySubscription
Retail footfall has dipped by 0.5% in the four weeks to 24 February, declining ahead of the final week of the month when the UK was hit by freezing conditions.
Sugarhill Boutique to rebrandSubscription
Independent fashion brand Sugarhill Boutique is relaunching as Sugarhill Brighton on 4 April.
Non-food retail sales dip in FebruarySubscription
Non-food retail sales in the UK have dropped by 1.1% on a like-for-like basis in the three months to 24 February, compared with the same period in 2017.
Suppliers out in the cold as tough trade bitesSubscription
Sub-zero temperatures have added to high street suppliers’ woes, as poor sales of spring stock spur retailers to delay deliveries and reduce their reliance on forward orders.
Mothercare has said it is in talks with its financing partners, since it predicts it will need “waivers of certain financial covenants” to support its ongoing turnaround plan.
Sports Direct raises Debenhams stakeSubscription
Sports Direct has upped its stake in struggling department store chain Debenhams from 23% to 29.7%.
New Look targets 60% store rent cutsSubscription
New Look reportedly wants its landlords to slash store rents by up to 60% as part of its rescue plan.
The founder of Doncaster fashion independent Robinsons of Bawtry, Tony Robinson, has died at the age of 66.
G-Star takes over Swedish franchiseSubscription
G-Star is taking over its Swedish franchise partner Global Retail Sweden, comprising 17 stores in the country.
Primark owner names new chairmanSubscription
Primark parent Associated British Foods (ABF) has appointed non-executive director Michael McLintock as its new chairman, as Charles Sinclair steps down from the role.
UK clothing sales for the week to 18 February fell 6.2% year on year despite a Valentine’s Day boost to lingerie sales.
Yours Clothing to launch German storesSubscription
Plus-size womenswear retailer Yours Clothing is set to roll out stores in Germany this year, marking its first foray into mainland Europe.
Debenhams has introduced Central Saint Martin’s graduate Richard Quinn to its Designers at Debenhams stable.
Sir Philip Green 'mulls Arcadia sale'Subscription
Topshop boss Sir Philip Green is reportedly planning to sell all or part of his Arcadia Group empire.