TK Maxx has taken Sports Direct to court over allegations that the latter’s Brand Max stores are an infringement on trademark.
Marks & Spencer is understood to be reviewing its once popular Per Una fashion label and could soon scrap it all together. According to the Mail on Sunday , M&S has placed a raft of inhouse clothing lines under review following a sustained period of falling sales in the department store’s non-food arm.
Etsy has seen its shares hit record highs following an announcement it would drive up the commission it takes from its sellers. The online marketplace, which specialises in selling homemade and independent goods, saw its share prices jump 35 per cent following the announcement
Iceland enjoyed rising sales throughout last year but reported a drop in profits due to major investments in marketing, prices and store refurbishments. In the year to March 31, sales rose eight per cent to £3 billion while like-for-like sales jumped 2.3 per cent, accelerating from a two per cent rise in 2017. Despite the growing sales, the frozen foods retailer said adjusted EBITDA dipped 1.8 per cent to £157.1 million.
H&M Group has reported slightly lower than expected growth for its second quarter, as discounts impacted sales during the Swedish giant’s attempts to reduce its record level of inventory. Local currency sales including VAT during the period ending May 31 were unchanged year-on-year. A mean Reuters poll had forecast for a 0.5 per cent increase.
Toys R Us’ UK distribution centre closed today making nearly 100 staff redundant as the failed retailer continues its “orderly wind down”. Joint administrators Simon Thomas and Arron Kendall from Moorfields Advisory announced the closure of the retailer’s site in Coventry.
New Look’s former chief executive Anders Kristiansen has been appointed to lead fashion brand Esprit. After leaving the embattled New Look in September, Kristiansen is poised to take on the same position at Esprit from June 1, replacing acting chief executive José Manuel Martínez Gutiérrez who will step down. Alongside Gutiérrez’s departure, independent non-executive chairman Raymond Or Ching Fai will take on the role of executive chairman from April 1
New Look has hired former Topshop digital guru Kate Walmsley as its new ecommerce and digital director. According to Retail Week , Walmsley has already started at New Look and made the move from Warehouse, where she has been customer director since 2016
Amazon is understood to be mulling an expansion into former Toys R Us sites across the US as the toy retailer begins its final wind down. According to Bloomberg , sources close to the situation said that Amazon has taken an interest in Toys R Us’ estate, which will soon be reduced to 885 vacant stores, allowing it to expand its physical presence quickly and cheaply. The ecommerce giant will reportedly use the new sites for its own purposes, not in an effort to rescue some of the bankrupt brand’s estate.
Marks & Spencer has hired grocery supply chain expert Lawrence Christensen to work as independent adviser for the high street giant’s turnaround scheme. Christensen has garnered a reputation for fixing supply chain issues for several grocers, including Sainsbury’s during its problems in the mid-2000s. He will work with M&S for three days a week, focusing on the retailer’s food retail arm on how to best transport food from supplier to store