Author: Scott Dylan

John Lewis Partnership’s CEO has criticised the UK government’s budget measures, calling them a “two-handed grab”.The company anticipates “tens of millions” in additional costs due to increased employer national insurance contributions.Further costs are expected because of delayed business rates reform, which is seen as detrimental by John Lewis.Nish Kankiwala, CEO, urges the government for radical business rates change, emphasising its significance.Despite financial pressures, John Lewis maintains its strategy and significant operational investments.John Lewis Partnership’s CEO, Nish Kankiwala, has openly criticised recent UK government budget measures, describing them as a “two-handed grab” from businesses. The government’s decision to increase employers’ national…

HSBC Innovation Banking has named Emily Turner as its new CEO, following her impressive tenure at Citi.Turner will replace Erin Platts, who is transitioning to a role at Octopus Ventures.Emily Turner departs Citi after 13 years, bringing substantial experience in business development and investing.HSBC Innovation Banking aims to consolidate its growth and expand internationally under Turner’s leadership.The appointment comes amid rising income and an expanding loan portfolio at HSBC Innovation Banking.HSBC Innovation Banking has appointed Emily Turner as its new CEO, marking a significant leadership change at a critical time for the lender, a key player in the UK’s technology…

Amidst ongoing tensions with Frasers Group, Boohoo Group announces significant board changes.Tim Morris elevated to independent chair as Boohoo responds to Frasers’ critiques.Mahmud Kamani transitions to executive vice chair, maintaining a key operational role.Frasers Group’s open letter calls for further board adjustments and critiques financial strategies.Boohoo’s recent £39.3m fundraising concludes amidst shareholder disagreements.Boohoo Group has taken decisive steps in reshaping its board to address growing tensions with major shareholder Frasers Group. The company has promoted Tim Morris, a former solicitor and Carphone Warehouse executive who joined Boohoo as a non-executive director in 2021, to the position of independent chair. This…

JD Sports reported a slowdown in sales for October, affected by mild weather conditions.The company expects full-year profits to hit the lower end of its projected range due to reduced demand in key markets.Revenue across the group experienced a slight decrease, although organic growth was noted.Headwinds persisted with a decline in like-for-like revenue in the UK.Despite challenges, JD Sports continued its global expansion with a significant number of new store openings.JD Sports has announced a decline in sales during the month of October, attributing this to unusually mild weather conditions impacting consumer demand in both the United Kingdom and the…

Ted Baker is set for a major relaunch in the UK and Europe, spearheaded by ex-Barbour executives.The brand consultancy Pace Partnership London (PPL) is overseeing the wholesale relaunch after Ted Baker’s 2023 administration.A new showroom in Shoreditch, London, will host the launch of Ted Baker’s AW25 collection.Key figures in Ted Baker’s relaunch include former Barbour marketing and sales leaders.Ted Baker’s ecommerce website has resumed operations in the UK following a trading halt.Ted Baker is gearing up for a significant relaunch of its wholesale business across the UK and Europe. This strategic move is being led by Pace Partnership London (PPL),…

Nobody’s Child, supported by M&S, is expanding its reach with sustainability as a core focus.The brand has significantly increased its physical stores and is a top performer among M&S partners.M&S’s investment has been pivotal for mutual growth, enhancing sustainability initiatives.Andrew Xeni champions innovative practices, including digital product passports, to bolster transparency.Nobody’s Child continues to thrive internationally, with strategic partnerships and product expansion.Nobody’s Child, with a strategic 27% stake held by M&S, is rapidly expanding its high street presence. In addition to its three standalone stores, the brand operates 60 pop-ups in M&S locations. Notably, it received the Fashion Game Changer…

Lidl GB has achieved notable financial success, marking its 30-year presence in the UK.Annual pre-tax profits reached £43.6 million, a substantial recovery from a £76 million loss the previous year.Sales rose by 16.9% to nearly £11 billion, setting a new record.The retailer saw an additional 35 million customer visits, with spending shifted significantly towards Lidl.Expansion plans include opening 18 new stores soon and an additional 40 within the next financial year.Lidl GB has marked a significant financial achievement, celebrating 30 years in the UK by reversing its prior financial losses. The company’s annual pre-tax profits have soared to £43.6 million,…

Deliveroo and Hurr have initiated a groundbreaking service, allowing users to rent designer dresses swiftly.Central London customers can access over 50 luxury brand dresses via Deliveroo.This partnership significantly reduces Hurr’s delivery time from 24 hours to just 20 minutes.Deliveroo’s entry into the fashion sector marks a new era of convenience for luxury rentals.Both companies express enthusiasm about enhancing rental accessibility during the festive season.Deliveroo and Hurr’s recent collaboration introduces an innovative way to access luxury fashion at unprecedented speed. Users in central London can now rent designer dresses from brands like 16 Arlington and Self-Portrait directly through the Deliveroo app,…

Champion announces the appointment of Maurizio Donadi as its new creative director, effective 1 December.Maurizio Donadi brings over 45 years of experience in fashion retail to Champion.He has previously held senior roles at brands like Ralph Lauren, Armani, Levi Strauss, and Diesel.Donadi is known for founding the Los Angeles-based vintage retailer, Transnomadica.This strategic move is expected to redefine Champion’s position in the sportswear market.American sportswear brand Champion has strategically appointed Maurizio Donadi, a seasoned professional with a 45-year tenure in the fashion retail industry, as its new creative director starting 1 December. Donadi’s extensive career includes significant roles in prestigious…

Retail executives are optimistic about Christmas 2024, predicting increased consumer spending driven by easing inflation.M&S and Tesco leaders express confidence in festive trading as early signs of consumer willingness to spend emerge.Forecasts suggest a 4% sales increase this Christmas, although economic challenges linger.Fashion retailers anticipate high demand for festive attire, with strong trends in burgundy clothing and novelty items.Beauty and grocery sectors expect significant holiday sales, with consumers spreading costs and shifting towards value brands.The anticipation of Christmas 2024 brings a sense of optimism among UK retailers as easing inflation boosts consumer confidence. Leaders from major retailers like M&S and…