Author: Sam Allcock

As part of a strategic restructuring, Poundland is consulting on around 60 head office job cuts.Positions affected span across finance, supply chain, IT, and property departments.These changes aim to ensure an efficient and cost-effective business model.Pepco Group, Poundland’s owner, reported a significant revenue increase amid these adjustments.The company emphasizes its commitment to supporting impacted employees.Poundland, under the ownership of Pepco Group, is initiating a consultation process to potentially cut approximately 60 roles at its head office in Walsall. This decision forms part of a broader strategic effort to streamline operations and achieve greater cost efficiencies across its business units.The positions…

Abercrombie & Fitch has inaugurated its latest retail outlet in the vibrant district of Spitalfields, London.This marks the brand’s first foray into east London, adding to its existing London locations.The store showcases both women’s and men’s collections amidst a light and bright shopping environment.Enhanced with omnichannel features, the store offers click-and-collect services alongside artistic installations.Abercrombie & Fitch has significantly improved its financial outlook, demonstrating robust growth and increased revenue projections.Abercrombie & Fitch has opened a new store located at 2 Horner Square in Spitalfields, marking its first establishment in east London. This opening adds to their existing presence in the…

Asos has initiated a strategic three-year agreement with Microsoft to enhance operational efficiency through AI integration.The agreement includes the use of Microsoft Copilot, a generative AI tool, to assist Asos engineers in writing code more efficiently.Asos is leveraging Microsoft’s Power Automate to automate workplace processes, including meeting summaries and translations.The AI-powered stylist, launched by Asos in February, uses Microsoft’s Azure platform to help customers discover new fashion styles via a conversational interface.Victoria Arden, Asos’s technology operations director, expressed a commitment to driving operational excellence and unlocking creativity through these AI tools.In a significant move to bolster operational efficiency, Asos has…

Industry leaders discuss the integration of technology to future-proof fashion retail.Chris Williamson emphasises the convergence of physical and digital worlds through AR and VR.Fashion retailers advised not to overlook disruptive innovations in tech.Panellists include experts from N Brown, Asos, Schuh, and EXL.Insights shared during the Drapers Future of Fashion Conference 2024.In a compelling episode of the Drapers Talks podcast, senior leaders from N Brown, Asos, Schuh, and EXL convened to discuss transformative technological strategies pivotal for future-proofing within the fashion retail sector. The discussion highlighted how imperative it is for retailers to embrace disruptive innovations to stay competitive and relevant…

Seasalt has experienced a remarkable rise in operating profit, reaching £7.9m, a 146% increase.The company’s revenue grew by 12% compared to the previous year, totalling £132.6m.Seasalt expanded its physical presence with new store openings across the UK and Ireland.Partnerships with third-party platforms now contribute significantly to Seasalt’s revenue.Future growth plans include opening stores in North America to continue their upward trajectory.Seasalt has witnessed an extraordinary increase in operating profit, reporting a 146% surge to £7.9m for the year ending 27 January. This impressive growth is driven primarily by robust sales performance in its physical stores across the UK and Ireland.The…

TikTok Shop is set to raise its commission fees for sellers in the UK, marking the first change since its launch in 2021.The new commission rate will increase from 5% to 9%, starting 2 September, aligning with its focus on live commerce and shoppable content.A ‘seller missions’ programme will allow sellers to lower their fees by meeting specific content creation goals.A co-funded free shipping model will launch on 4 September, aiming to boost order conversions by sharing shipping costs with sellers.The platform asserts its fees remain competitive, as it invests in enhancing operations and services.TikTok Shop, the e-commerce platform integrated…

Crew Clothing is engaged in a court case with its former CEO, David Butler, over disputed compensation claims.Butler is accused of claiming unauthorised salary benefits amounting to over £600,000.Crew Clothing denies any agreement on these benefits and seeks compensation through legal means.Butler refutes the allegations and has countersued for wrongful dismissal.The case has disrupted Crew Clothing’s operations, as several senior leaders departed following Butler’s exit.The British casual wear retailer, Crew Clothing, has initiated legal proceedings against its former CEO, David Butler, accusing him of claiming unauthorised salary increases and bonuses worth £622,560. Crew Clothing asserts that Butler informed Rupert Hay,…

John Lewis is undertaking significant changes to its buying and merchandising teams as part of a wider transformation led by Peter Ruis.The retailer plans to introduce 48 new roles while consulting on 20 existing positions to streamline operations.The restructuring aims to enhance product variety and improve career progression opportunities for Partners.Peter Ruis has emphasised the importance of adapting to a volatile market with targeted changes.Investments in new brands and leadership roles are central to the ongoing transformation efforts.John Lewis, under the leadership of Peter Ruis, is embarking on a strategic transformation of its buying and merchandising teams. The retailer plans…

Amazon’s revenue surged by 10% year on year in Q2 2024, driven by strong North American sales.Operating income rose significantly, alongside a notable increase in net income.Amazon Web Services (AWS) saw substantial growth in net sales, contributing to overall revenue gains.CEO Andy Jassy highlighted AWS’s expanding capabilities and customer preference due to its functionality and security.Looking forward, Amazon anticipates continued growth despite expected foreign exchange challenges.Amazon has reported a notable increase in revenue for the second quarter ending on 30 June 2024, with figures climbing by 10% to $148.0 billion (£116.2 billion) compared to the same period last year. This…

The latest episode of Drapers Talks podcast features Paul Wilkinson, Deliveroo’s product director, offering crucial insights.Paul Wilkinson highlights how innovation serves as a catalyst for customer satisfaction and business growth.The podcast emphasises the crucial role of ‘space’, ‘ownership’, and ‘freedom’ in fostering innovation within teams.Wilkinson underscores the importance of allowing team members to have decision-making power to drive innovation.This episode is a must-listen for those seeking effective strategies to enhance innovation within their organisations.In a recent episode of the Drapers Talks podcast, Paul Wilkinson, product director at Deliveroo, shared significant insights on the role of innovation in enhancing both customer…