The footwear retailer will be able to better focus on its core footwear merchandising without the poor performance of the online unit, analysts say.
Eve Sleep has seen a triple digit growth in sales over the last year but still failed to make a profit thanks to ongoing costs after its initial public offering (IPO) last year.
Not long ago digital players upset the old travel agent model, but now Morgan Stanley is prodding the e-commerce giant to disrupt the online travel sector.
InternetRetailing EXPO, Europe’s leading event for digital and multichannel retail, today launches the results from its “Future of Retail” survey, which investigated 2000 UK consumers’ attitudes to retail experiences both online and in store. The results show that although the UK won’t be moving to a purely virtual, exclusively online retail world anytime soon, there is a clear demand for increased integration across online and in-store – both in terms of the shopping experience and the customer data collected (or not) at each point.
Sainsbury’s has been told by the country’s peak advertising body that it must be clear its own Fairly Traded brand is separate to the Fairtrade scheme after a complaint that it was misleading shoppers. Last summer Sainsbury’s, the UK’s biggest Fairtrade retailer, set up its own Fairly Traded brand for tea. The move prompted 40 cross party MPs, alongside shareholders, NGOs and an 85,000-signature petition to condemn the move and urged the UK‘s second largest grocer to stick with Fairtrade.
June 26 2014: Rutland partners buys Maplin for £85 million, with a view to “improving” the business through restructuring and investment. It aimed to build on its recently improved performance to “release further potential” and grow what appeared to be a business with an aptitude for growth. Though Rutland partners had experience in investing in underperforming businesses and turning them around, it is likely it underestimated the significance of the online threat despite the warning signs
The executive director for buying and design at House of Fraser, Maria Hollins, has stepped down while David Walker-Smith has been hired for the new role of chief product and trading officer.
US President Donald Trump has reportedly backed calls for an overhaul of legislation on taxing internet sales, in a move which could have ramifications for online retail institutions. Steve Mnuchin, the US treasury secretary, said Trump “does feel strongly” about introducing a national tax on internet sales. Under current US legislation, retailers only pay sales tax in states where they have a significant physical presence, which is estimated to have lost the government around $13 billion (£9.2 billion) in sales tax last year
Amazon plans to make “small” numbers of job cuts in its UK operations as part of a wider shake-up at its Seattle headquarters – but stressed that affected employees will be assisted in finding roles in other areas within the company. In a statement, the retailer’s UK arm said that as part of its annual planning process, it would make “small reductions” across its a few operations while continuing an “aggressive” hiring spree in many others. An exact number of how many staff would be affected was not revealed
Farfetch is preparing itself for a listing on the New York Stock Exchange, with the online retailer poised to choose a bank to lead the float.