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Tag: a-sharp-drop

New Look tipped to close up to 60 stores

New Look is poised to close down as much as 60 of its 600 UK stores as it continues to battle massive debts. The fashion retailer’s finance director Richard Collyer has reportedly written to landlords to seek meetings to discuss possible store closures and rent reductions.

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New Look’s UK & international managing directors exit

New Look has announced that two of its managing directors are leaving the retailer amid a reshuffle of its senior team. Danny Barrasso, the retailer’s UK and Republic of Ireland managing director, is leaving the company today after five years with New Look.






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Online retail sales slows down sharper than expected in 2017

Online retail sales growth slowed to an average of 12.1 per cent year-on-year over the course of 2017, almost two percentage points below the forecast of 14 per cent. According to the latest IMRG Capgemini e-Retail Sales Index, 2017’s figures is also a sharp drop to 2016’s 15.9 per cent average growth.






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Online retail sales slows down sharper than expected in 2017

Online retail sales growth slowed to an average of 12.1 per cent year-on-year over the course of 2017, almost two percentage points below the forecast of 14 per cent. According to the latest IMRG Capgemini e-Retail Sales Index, 2017’s figures is also a sharp drop to 2016’s 15.9 per cent average growth. In 2018, online retail sales is forecast to slow down again to a growth of nine per cent – the first time it has fallen into single digit territory






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Thousands of jobs on the line as Wilko eyes job cuts

The future of almost 4000 Wilko staff is up in the air after the homewares retailer confirmed it has commenced a redundancy consultation period, weeks after it posted an 80 per cent drop in annual profits. The high street chain said a restructure was needed in order to “ensure it is best placed to continue to thrive within an ever-changing retail landscape”






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Weakened pound sends Wilko profits plummeting 80%

Value retail chain Wilko has recorded a sharp drop in profits, attributing it to the weak sterling and the “unilateral imposition” of the national living wage. For the year to January 28, pre-tax profit plummeted by 80 per cent to £5.2 million, exacerbated by £12.9 million losses from currency forward contracts. While Wilko also experienced a 13 per cent drop in EBITDA to £48.9 million, like-for-likes was up by one per cent and total sales rose by 3.3 per cent.






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