Author: Sam Allcock

Retailers face mounting challenges as £11 billion is lost to fraud in the UK.Thin retail margins heighten the impact of financial losses due to fraudulent activities.Eric Horgan provides insights into combating fraud in a Retail Gazette podcast.Topics discussed include return policy abuse and online payment fraud.The role of AI in facilitating fraud is scrutinised in the conversation.In the UK, retailers have encountered a significant financial obstacle, with cyber attacks and fraud leading to losses amounting to £11 billion in 2023. This substantial financial drain coincides with already thin retail margins, potentially pushing some businesses to the brink of closure. The…

The journey through cancer treatment is challenging, often exacerbated by the distressing side effect of hair loss. Luminate, an Irish startup, is pioneering a solution with a new helmet designed to reduce hair loss during chemotherapy. This development marks a potential shift in patient care and quality of life.Understanding Chemotherapy-Induced Hair LossMany cancer patients face hair loss during chemotherapy, with an estimated 65% encountering this as a side effect. This occurs because chemotherapy drugs target rapidly growing cells, including healthy ones in hair follicles, resulting in hair loss. Some drugs used in cancer treatments, like those for breast cancer, can…

Iceland is embroiled in a complex legal battle over its trademark in the European Union.The supermarket is appealing against an EU decision stripping its trademark rights on ‘Iceland’.This marks the third phase in a prolonged eight-year legal tussle involving the Icelandic government.The dispute affects the retailer’s exclusive rights to use ‘Iceland’ in EU marketing.Despite the legal challenges, the company’s operations in the EU remain unaffected.The legal battle between the Iceland supermarket chain and the Icelandic government has reached a new phase as the retailer appeals an EU ruling. This ruling previously revoked trademark protection for the word ‘Iceland’, which the…

Evoke Group, parent company of William Hill and 888, sees revenue growth amidst challenges.The firm’s third-quarter update reveals a revenue of £417m, despite a significant dip in its gambling unit.An 8% overall revenue increase was achieved, highlighting success in core European markets.Cost-cutting and strategic plans under Per Widerstrom’s leadership are credited for this turnaround.The company projects a 5-9% revenue growth in the second half, with improved EBITDA margins.Evoke Group, the parent company of William Hill and 888, reported a notable revenue increase in its latest third-quarter trading update. Despite facing a 13% decrease in its gambling unit, the company posted…

UK retail sales experienced an unexpected rise in September, contrasting with analyst forecasts. This occurred despite the backdrop of economic challenges and looming tax increases.According to data from the Office for National Statistics (ONS), retail transactions saw a 0.3% growth in September, building on the previous month’s strong performance. Though analysts had anticipated a decline, the actual figures indicated a market resilience driven by increased spending on technology.In September, the UK retail sector experienced a 0.3% increase in sales, defying the anticipated 0.4% decline. This follows a strong 1% rise in August, marking significant resilience in the sector. Technology equipment…

The potential shift in policy regarding salary sacrifice tax breaks for electric vehicles is generating significant discussion across various sectors. Industry leaders and financial analysts are closely monitoring developments as the government evaluates the potential impacts on both economic equality and environmental goals.Rachel Reeves’ considerations to modify or eliminate these tax breaks are driven by arguments of disproportionate benefits to higher earners. As the automotive industry awaits clarity, stakeholders are analysing potential consequences for the UK’s broader decarbonisation efforts.Potential Cessation of Tax BreaksThe potential removal of salary sacrifice tax breaks for electric vehicles has sparked significant debate in the industry.…

In September, UK retail sales exceeded expectations amid high demand for new technology.Sales in technology and telecommunication surged by over a third, driven by new product launches.The Office for National Statistics reported a 0.3% rise in retail sales volumes, surpassing forecasts.Clothing and footwear sales increased as cooler weather prompted seasonal wardrobe updates.The British Retail Consortium noted growth was slower but maintained a positive outlook.In a surprising development, UK retail sales defied forecasts in September, driven notably by a burgeoning demand for new technology. The sector experienced a remarkable uptick, particularly in technology and telecommunications, with sales increasing by over one-third.…

Amid efforts to enhance operational efficiency, Sainsbury’s is piloting larger self-checkout systems.The hybrid self-checkouts incorporate conveyor belts and designated bagging areas for customer convenience.Initially rolled out in two stores, these systems aim to accommodate full trolleys, resembling traditional checkouts.CEO Simon Roberts emphasises the initiative as a choice expansion rather than a total replacement of manned checkouts.Complementary to this, Sainsbury’s trials touchscreens for aisles navigation, part of a broader cost-reduction strategy.Sainsbury’s has embarked on a new initiative, testing larger self-checkout tills with the intent of replacing some human cashiers. This move comes as part of a broader strategy to enhance store…

Boohoo CEO John Lyttle resigns following a significant decline in overseas sales.Overseas sales drop by 18% in the US and 21% in other regions.Boohoo’s revenue struggles against rival Chinese firm Shein.New financial strategies include securing a £222m debt facility.Exploration of strategic options to enhance shareholder value is underway.John Lyttle, the CEO of Boohoo, has announced his resignation after the company reported a substantial decline in its overseas sales. This exit comes as the British e-commerce giant grapples with financial challenges, including a significant fall of 18% in the US markets and 21% in other regions outside the UK.During Lyttle’s five-year…

Boohoo Group CEO John Lyttle will step down as the company secures a strategic £222 million refinancing deal.This financial arrangement includes a £125 million revolving credit line and a £97 million term loan.The refinancing is intended to enhance Boohoo’s financial position by reducing interest costs.The company plans to undertake a review to optimise shareholder value across its divisions.Despite a recent decline in revenues, Boohoo expects improved financial performance in the next fiscal period.Boohoo Group has announced the upcoming departure of its CEO, John Lyttle, coinciding with a significant financial development. The company has secured a £222 million refinancing agreement, a…