Online retailer Poundshop.com has, alongside finance and business consultants Blue Sky Corporate Finance, brokered a deal worth £1.7m with Foresight. The deal will allow the company to significantly improve on their IT infrastructure as well as implementing its marketing strategies and expanding warehouse capacities. The company offers a home delivery...
Retail parks in the UK continue to see a decline in footfall, as the decline from the high-street stores begin to hit other parts of the retail sector. In February, total footfall fell by 1.6%, a considerably higher figure than the 0.4% drop in January. Overall, retail destinations in the...
Tony Barrell and Mike Jervis of PwC have been selected as joint administrators of Brantano Retail Limited. Brantano was acquired by Alteri Investors in February 2016 but has been battling against “difficult” trading conditions. Mr Barrell, lead administrator at PwC, said: “Despite significant improvements in the business and reductions in the...
Next has released its annual financial results, reporting the first drop in annual profits for eight years and confirming predictions of a challenging period for the retailer. Pre-tax profits dropped by 3.8% to £790.2 million for the year to January, marking the first drop since 2008. Prices at the retailer were...
Ted Baker has reported strong growth after releasing its full-year results despite “external challenges” across its expanding global markets. The fashion brand published a pre-tax profit boost of 4.4% to £63 million for the year to January 28th, as total revenues rose to 16.4% to £531 million. Online revenue has been credited...
Small businesses, especially those that are independent or family-owned, are set to face difficulties in the coming months due to the rise in business rates set out by the government. Some firms face up to a 45% increase in their tax bill, with overall businesses in London facing an overall...
Home improvement retailer Kingfisher have announced a significant rise in profits with Screwfix leading the way in terms of their most profitable businesses. Chief executive Veronique Laury noted that “It has been a very productive and important year, a year which has again delivered sales and profit growth”. Total adjusted...
Shop employers have been forced to increase redundancies in a bid to save money in the face of the implementation of a raised national minimum wage. Up to 4,000 jobs have been made redundant due to cost pressures as well as increasing technology making certain roles more and more obsolete....
Once again, British supermarkets may be hit by another shortage, this time centred around fruit produce. On the back of last month’s shortage of leafy vegetables cause by adverse weather conditions abroad, increased sales combined with a poor harvest for British farmers has put significant pressure on supermarkets to carefully...
The number of physical fashion and footwear stores fell across the UK in the past 12 months, with some regions seeing as much as a 5% decrease. In Scotland, the decline was indeed 5%, whereas areas such as the Greater London area showed a decline of 2%. The total number...
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