Claire’s Accessories has sought to reassure customers that its UK operations will not be affected by its US counterpart’s bankruptcy filing. Earlier this week it was reported that the accessories retailer, which trades from 378 stores and 128 concessions across the UK, was preparing for bankruptcy as it struggled to tackle its £1.4 billion debt pile
Fashion powerhouse H&M has reported lower than expected sales in its first quarter, as like-for-like sales continue to slow.
Zara is set to introduce augmented reality displays from April as part of efforts to lure millennials into its stores and increase footfall. The technological push entails shoppers holding their smartphone up to a sensor within the store or designated shop windows to see models wearing selected looks from its ranges. READ MORE: Inditex posts 7% net profit uptick amid rapid online growth There will also be options for customers to click through to buy the clothes.
The Bargain Booze owner Conviviality has seen its shares suspended on the junior market as traders await an announcement. This follows an announcement from the group earlier this week in which it announced its EBITDA is expected to come in 20 per cent lower than market expectations, due to an “arithmetic error” in its financial forecasts. READ MORE: £300m wiped of Bargain Booze owner following profit warning A suspension of shares usually occurs when there is a lack of material financial information, and mean’s Conviviality’s shares cannot be traded
Toy retailer Lego has beaten British Airways to the top spot as the British public’s strongest consumer brand. In the annual survey of over 2500 people conducted by Superbrands, the Danish toy retailer scored the highest out of 1500 brands on perceived quality, reliability and distinction.
Ex-Wickes and Iceland boss Bill Grimsey is about to lead another taskforce focusing on the health of the UK’s high streets after gloomy start to the year for the sector. READ MORE: Claire’s Accessories on brink of bankruptcy as debt piles up Redundancies imminent as Toys R Us prepares to make closures Maplin HQ staff made redundant as fears grow for 2500 shop workers 980 staff at risk as New Looks identifies 60 stores for closure in CVA proposal In response to Maplin and Toys R Us UK falling into administration last month, and with other high street retailers New Look and Claire’s currently on shaky grounds – Grimsey is set to restart the taskforce after an initial one 2013 that was closely followed in Westminster
Harrods staff are reportedly facing the prospect of parts of the pay cut amid an overhaul on sales commissions. According to a source speaking to The Daily Mail , the iconic department store’s staff could have their commissions slashed by 25 per cent from May.
Tesco has sparked major controversy on social media over a children’s fox hunting costume and has been accused of encouraging children to take part in “bloodsport”.
Toys R Us stores are expected to start making redundancies and close stores over the next week, with 26 loss-making stores first on the chopping block. After entering administration on February 28, the the UK counterpart of the American toy giant is yet to find a buyer despite administrators Moorfields stating it would make “every effort” to find one
Luxury department store retailer Harvey Nichols has hired Deborah Bee to be its new group marketing and creative director. Bee, who joined the luxury retailer on March 5, will be responsible for its communications strategy and customer acquisition and retention.