British retail company SuperGroup has announced it would change its name to Superdry as well as commit to various targets to make the business more environmentally-friendly.
The Card Factory has taken a hit to its margins “higher than initially expected” as it struggles with lower footfall and seeks to mitigate rising import costs. In the six months to July 31, the retailer reported a 13.9 per cent drop in operating profits to £24.6 million, with underlying operating profits dipping 4.6 per cent to £27.7 million. Underlying EBITDA dropped four per cent to £32.8 million while underlying profits before tax fell 4.8 per cent to £26.3 million
A reshuffle of Harvey Nichols’ senior ranks will see chief executive Stacy Cartwright step into the role of deputy chairman.
Fashion retailer Matchesfashion is ramping up its online operations by opening a new distribution centre in west London. The new facility situated near Heathrow Airport is set to open in 2018 and will create 200 jobs for the surrounding area. Hailed as a “significant evolution” in the retailer’s operation the new hub reportedly has potential to grow to more then 500,000sq ft and handle more than 4 million shipments by 2020.
Holland & Barrett has poached Starbucks’ vice-president of technology Mark Fabes for a brand new chief information officer role.
TK Maxx’s UK arm has recorded a fall in profits and a dramatic slowdown in comparable sales due to rising wages and costs arising from expanding the business.
Marks & Spencer has confirmed that its new managing director for clothing, home and beauty, Jill McDonald, will start on October 2. The department store chain first announced McDonald would be taking up the role back in May, but a start date was not announced at the time. READ MORE: M&S poaches Halfords CEO Jill McDonald to head up clothing & homes division Stepping into a brand new role, McDonald will be responsible for the overall profit and loss accountability in all aspects of M&S’s non-food arm, a division of the business which has been struggling in recent years while its food division continues to boom
John Lewis has announced plans to close its Edinburgh distribution centre and axe nearly 80 jobs, stating it can no longer support the retailer’s growth. The high street stalwart will move operations to its central distribution hub in Glasgow, where 40 new jobs will be created and all regional online orders will now be processed
The UK is famed for its small businesses: at the start of 2016, they were 99 per cent of all private sector businesses in the UK. Since 2010, one million more small businesses and 4000 new medium-sized companies have been created.
Jack Wills has raided SuperGroup’s ranks to hire Greg Roberts to take on the newly-created role of wholesale director.