Adidas has announced plans for a major sustainability drive which will see all its clothes and shoes use only recycled polyester over the next six years. According to the Financial Times, the world’s second largest sportswear retailer is aiming to “get rid of virgin polyester by 2024”. Polyester is understood to currently make up 50 per cent of the material used across Adidas entire product range, a total of 920 million individual items.
Ikea has pledged to remove all single-use plastic straws from its product range and restaurants by the start of October this year. The move, which will see Ikea no longer offer nor sell single-use plastic straws, forms part of the furniture retail giant’s global commitment to remove all single-use plastic products from its range and restaurants globally by 2020.
Marks & Spencer is planning to axe over 300 jobs across the country as it continues to streamline its operations following reports of falling revenues.
New retail study uncovers the cost of queuing Long queues = £14.3 billion in lost sales Did you know how much long queues were costing your business? In the past 12 months, European retailers lost £14.3 billion because of exasperated shoppers abandoning purchases. Luckily today, technology can help you remove this expensive pain-point.
N Brown Group’s executives could be refused their bonuses as shareholders are poised to vote on it tomorrow. The Simply Be and Jacamo owner’s shareholders have been advised shareholder advisory firm ISS to vote against the proposed bonuses.
Sports Direct has saved speciality sportswear retailer Northgame Limited from administration after acquiring it for £261,000. According to new documents published on Companies House Sports Direct subsidiary Lovell Sports purchased Northgame Limited, which trades under the name Barrington Sports, from administrators FRP Advisory in late May. Barrington Sports, which specialises in hockey and cricket gear, fell into administration in April, leaving £1.6 million owed to unsecured creditors, according to The Telegragh
Discount gifts and stationery retailer The Works has announced a successful pricing of its IPO on the main market of the London Stock Exchange. The offer price has been set at 160p per share, which equates to a market capitalisation of £100 million on admission. The retailer – which also sells books, arts, crafts, and toys – said it expected dealings would commence from July 19.
Build-A-Bear has told customers to avoid visiting its stores after a “Pay Your Age” promotional event prompted “extreme crowds and safety concerns”.
John Lewis has unveiled its biggest-ever investment in fashion to date, which forms part of the department store’s bid to grow a £500 million own-brand fashion business. Created by the in-house John Lewis & Partners design studio team and label, the new fashion collection will consist of 300 designs. READ MORE: John Lewis Partnership issues profit warning amid Waitrose closures John Lewis trials buy-back clothing scheme to cut landfill waste John Lewis & Waitrose to anchor £1.4bn Westfield Croydon The first collection, for the autumn/winter season, features 800 womenswear pieces, handbags and accessories and goes on sale on September 4
Udo Hardieck, the co-founder of the global fashion retailer Gerry Weber, died yesterday aged 74. Alongside the brand’s eponymous Gerhard Weber, Hardieck founded the retailer in 1973, which then traded as Hatex. After growing the women’s fashion brand for over a decade, Hatex changed its name to Gerry Weber in 1989 and joined the Frankfurt Stock Exchange