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Fenwick says it has 'no plans for store closures' as it calls in restructuring experts
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Aldi to cut up to 350 jobs at UK headquarters as cost pressures increase
Aldi, the renowned discount grocer, is poised to eliminate up to 350 positions at its UK head office in Atherstone as it grapples with mounting costs. Reports indicate that various roles within the buying department, spanning non-food, finance and certain back-office operations will be impacted, as reported by City AM. This move sees Aldi join the ranks of Tesco, Morrisons and Sainsbury's, all of whom have announced job cuts following the budget revelations last October. The heightened fiscal demands on retailers due to increased taxation on staff wages are a key contributor. In a stark warning issued earlier this month, a consortium of retailers, including heavyweight names Tesco and Marks & Spencer, alerted the Treasury to the "perfect storm" of escalating expenses facing the sector. Represented by the Retail Jobs Alliance (RJA), they prognosticated the loss of 300,000 retail positions by the year 2030, compounded by factors such as a more substantial national insurance obligation, a novel recycling tax, and elevated business rates. In a trend indicative of the sector's distress, last month Sainsbury's declared its intent to shut down all in-store cafes and shed 3,000 jobs. Similarly, Tesco unveiled plans to cull 400 jobs in a bid to streamline operations. Not to be outdone, Morrisons too signalled a significant reduction in their workforce, targeting over 200 jobs within its retail people team for termination. These measures are part of a broader initiative towards drastic cost-saving, in response to what CEO Rami Baitiéh termed an "avalanche of costs." With retail vacancies dwindling by nearly half over the past year and the sector experiencing a loss of approximately 225,000 jobs from 2019 to 2025, as reported by the ONS, there's little doubt that the industry is under extreme duress. This has spurred an accelerated shift towards automation, where advancing technology offers both power and cost-effectiveness, becoming an increasingly attractive alternative for the beleaguered retail landscape. However, Aldi's restructuring will not impact any customer-facing roles. A spokesperson for Aldi informed the Grocery Gazette: "To support our continued growth and to offer the best experience to our customers, we are consulting over proposals to restructure some head office teams." They added, "No customer-facing roles are affected, and no final decisions will be made until the consultation process is complete."
2025-08-26 01:56:23
HMV sales on song as billionaire owner helps turn around high street icon
HMV has reported a significant increase in sales over the past three years under the ownership of Canadian billionaire Doug Putman. The high street retailer recorded a turnover of £189.5m for the 12 months to 30 May, 2024, an increase from the previous year's £177.9m, as reported by City AM. This follows HMV's sales figures of £150.7m in May 2022 and £90.3m in May 2021, a year heavily affected by the Covid-19 pandemic. From February 2019 to May 2020, HMV's sales totalled £187.9m. The company was rescued from administration in February 2019 by Canada's Sunrise Records, saving 100 stores and 1,487 jobs. However, 27 stores were closed and 455 employees were made redundant. The business had previously fallen into administration in December for the second time in six years. . Sunrise Records, founded in 1977, was acquired by Doug Putman in 2014. The latest accounts for HMV, filed with Companies House, reveal a slight decrease in operating profit from £5.2m to £4.9m during its most recent financial year. Over the course of the year, the average number of employees increased from 1,375 to 1,544. . DKB Group Holdings, the parent company of Sunrise Records and Entertainment, reported a rise in turnover from £178.9m to £191.4m, while operating profit dipped from £5.5m to £4.9m. In November, City AM reported that HMV had put a halt to its plans to open additional new stores in 2025, attributing the decision to the government's tax-increasing Budget. The retailer noted the challenges facing high street traffic, stating: "Traffic to the UK high street has been in decline for a number of years as customers increasingly shop online." The company is addressing the risk of reduced footfall by offering unique or collectable products that entice customers to visit HMV stores specifically. "Footfall decline risk is being managed by offering products with sufficient exclusivity or collectability that customers will make specific trips to the HMV stores to shop." HMV also highlighted its investment in e-commerce as a strategy to adapt to changing consumer behaviours. "It has also been managed via continued investment in our e-commerce platform." The statement from the board acknowledged significant trading impacts due to global conflicts and potential oil-driven inflation. "Trading in recent years has been impacted significantly by the conflict in Ukraine and an escalation of the Israel Palestine war could exacerbate oil driven inflation, squeezing consumer spending and driving up silly cost."
2025-09-02 21:50:23
Welsh footfall growth the strongest in the UK despite cooling on January
Retail footfall in Wales increased in February but at a slower rate than January, shows latest research from the Welsh Retail Consortium. Footfall, defined as shoppers entering a store, in February was up 2.% year-on-year (YoY) compared to a 8.5% rise in January. The rise in February was the highest of any nation or region of the UK, followed by the north west of England at 1.9% and London and the west Midlands at 1.8%. For England it rose by just 0.2%, while in Northern Ireland it was down 0.1% and Scotland 0.3%. The biggest fall was in Yorkshire and the Humber, down 3.5%. Shopping centre footfall in Wales YoY decreased by 1.5% in February, down from 8.6% in January. Retail park footfall increased by 2.9% in February YoY, down from 9.8% in January. Footfall in Cardiff decreased by 1.8% (YoY), down from 9.1% in January. Of the core cities of the UK the fall in February in Cardiff was only greater in Liverpool, down 2.5%, Bristol, 5.2%, and Leeds 5.6%. The biggest rise was in Birmingham at 5%. FOOTFALL BY NATION AND REGION GROWTH RANK NATION AND REGION Feb-25 Jan-25 1 Wales 2.7% 8.5% 2 North West England 1.9% 7.7% 3 London 1.8% 6.7% 3 West Midlands 1.8% 10.0% 5 South East England 0.4% 9.4% 6 England 0.2% 7.4% 7 Northern Ireland -0.1% 3.5% 8 Scotland -0.3% 1.0% 9 East of England -0.8% 8.5% 10 North East England -1.0% 6.8% 11 East Midlands -1.3% 6.4% 12 South West England -1.4% 7.9% 13 Yorkshire and the Humber -3.5% 3.3% TOTAL FOOTFALL BY CITY GROWTH RANK CITY Feb-25 Jan-25 1 Birmingham 5.0% 14.3% 2 Manchester 3.9% 10.3% 3 Edinburgh 1.9% 2.8% 4 London 1.8% 6.7% 4 Belfast 0.1% 4.8% 6 Nottingham -0.3% 6.7% 7 Glasgow -1.1% 1.9% 8 Cardiff -1.8% 9.1% 9 Liverpool -2.5% 3.2% 10 Bristol -5.2% 6.2% 11 Leeds -5.6% 1.0% Sara Jones, head of the Welsh Retail Consortium, said:“Shopper footfall across all Welsh retail destinations faltered in February, dipping over 5% compared to the previous month. That said, February still saw healthy year on year growth, the best of the four home nations. “Shopper numbers picked up substantially in the last week of February, no doubt helped by the late half term and start of spring weather, coinciding with the benefits of a St. David’s day uptick. “Confident consumers and buoyant household disposable incomes are critical to the health of the retail industry and all who rely on it, including our colleagues and our wider communities. As we approach the two-year anniversary of the Welsh Government’s retail action plan it will be time to take stock on what more can be achieved to cement the future of the retail industry in Wales. With an onslaught of additional government-mandated costs in the pipeline from April, bold decisions will be needed to help safeguard the sector and to help it flourish rather than falter in the years to come.” On the UK picture Andy Sumpter, retail consultant for Sensormatic Solutions, which carried out the research, said: “After January’s jump-start, retail footfall in February stalled, with retailers seeing a more modest improvement compared to 2024 last month. "While the good news is that shopper counts remained steady, many would have been hoping for a more substantial leap building off a strong start to the year. Retail Parks, consistently one of the top performers in 2024, once again outstripped other retail destinations in February, as the convenience and choice built into their retail offerings again proved popular with customers. " With Easter falling late and well into April this year, this will, undoubtedly, put added pressure on retailers as we head into March. To plug the gap, retailers have an opportunity to create compelling reasons to visit and enhance their offerings with greater convenience and choice, which have been the standout strengths of retail park performance.”
2025-09-08 21:07:53
Jollyes continues to sink into the red despite sales surge as it takes on Pets at Home
Jollyes has reported a deepening pre-tax loss of £13.3 million for the year ending 26 May 2024, following a £5.3 million loss in the previous 12 months. However, the company's sales continue to surge, with turnover increasing from £115.2 million to £144 million during the same period, as reported by City AM. This marks a significant rise from its sales figures of £86.9 million in May 2022, £76.9 million in 2021, and £67.9 million in 2020. Despite the ongoing sales growth, Jollyes has not posted a pre-tax profit since achieving £2.1 million in the year to May 2018. The company attributed its losses to several factors, including a £6 million write-off of assets deemed unrecoverable, £1 million spent on pre-opening costs for 13 new stores, and £1.9 million invested in a supply chain transition project initiated the previous year. Additionally, Jollyes incurred £1.9 million in costs related to the sale of the business and £400,000 in restructuring expenses. The company was acquired by TDR Capital, the private equity backer of Asda, pub group Stonegate, and David Lloyd Leisure, in 2024. In a statement, the board expressed confidence in the company's financial and operational position, stating: "The directors believe that the group is financially and operationally well-positioned to capitalise on its market standing and is targeting further improved performance in 2025." During the year, Jollyes' average workforce increased from 963 to 1,160 employees. Jollyes is setting its sights on expansion to compete with Pets at Home. Earlier in the year, Jollyes announced intentions to reduce thousands of prices and to inaugurate new stores throughout the UK. Additionally, the retailer disclosed a suite of new benefits for staff aimed at drawing in fresh talent. These developments for Jollyes follow a surge in shares for competitor Pets at Home, buoyed by indications that the UK's competition watchdog is leaning towards a favourable outcome for the sector, coupled with rumours that private equity firm BC Partners is gearing up for a takeover bid. At January's end, Pets at Home reported a marginal profit decline due to a dip in retail revenue, despite a significant rise in veterinary sales. Over the 12 weeks leading to 2 January, revenue decreased by 0.2 percent to £361.6 million.
2025-09-02 22:28:51
Manchester Airport to get third Premier Inn hotel as bosses eye new site
Manchester Airport is set to welcome a new Premier Inn hotel, the chain's third establishment in the area. Manchester council has given the green light to Airport City Partnership Ltd, a subsidiary of Manchester Airport Group, to construct a 276-room hotel just a stone's throw away from the terminal. The upcoming Premier Inn will be neighbours with the recently opened Tribe hotel and another Dakota hotel currently under construction. The airport authorities have confirmed that Premier Inn will manage the 276-bedroom facility, adding to its two existing hotels nearby. However, the new nine-storey building will be much closer to terminal two, being only an eight-minute walk away, compared to the current 43-minute distance from the nearest Premier Inn rooms. According to the planning application: "Proposals for a new 276 room hotel building under the Premier Inn brand to compliment the emerging masterplan are presented (here). "Occupying the plot to the south of [Tribe], the Premier Inn hotel will create positive frontage to a new urban square activating routes between the M56 spur bridge between Wythenshawe and the Airport Interchange in the next phase of development." The proposal was approved last Wednesday (February 26), with council officers clarifying that there will be no dedicated Premier Inn parking spaces on-site, as guests will use the airport's general parking facilities. An officer report further noted: "In addition, the airport has recently notified the council of the intention to undertake works under their permitted development rights to form a new coach and taxi-drop off facility."
2025-08-27 20:12:32
Applied Nutrition seals USA and Holland & Barrett deals as its Coleen Rooney range expands across UK
Health and wellness brand Applied Nutrition has announced three new American deals – and an expanded partnership with Holland & Barrett that will see its new Colleen Rooney range go on sale in hundreds of UK stores. Knowsley-based Applied Nutrition has agreed a joint business plan with Holland & Barrett that will see the health and wellbeing retail chain increase the distribution of currently listed products and take a range of new ones. The Mersey firm said: “The first order under the new JBP was received this month and included the new Coleen Rooney range, which will be available in 500 stores” The deal will also see Holland & Barrett get early access to Applied Nutrition’s new products in development, allowing them to get products to their shelves more quickly. Applied Nutrition hopes the deal will treble its revenue from Holland & Barrett, already one of the group’s largest customers. In the USA, Applied Nutrition has secured deals with GNC Corporate, one of the largest specialty retailers in the US, Hy-vee, the largest regional grocery chain in the Midwest, and leading Texan grocery chain H-E-B. Applied Nutrition products will now go on sale in more than 1,000 new stores across the country, and the group says the deals “are expected to start contributing to revenue during H2 FY25 with an annualised spend of $3m”. Thomas Ryder, CEO of Applied Nutrition, said: “It is great to see such momentum with existing and new customers, further reinforcing the growth potential of the business. Not only are we significantly strengthening and growing our trade with existing key valued partners such as Holland & Barrett we are also securing new listings from major retailers in the US which is a key growth market. We look to the future with confidence and we remain focused on driving profitable growth throughout H2 and beyond.”
2025-09-16 14:10:48
Julia Hoggett calls for UK to revise retail investment rules favouring crypto over bonds
Julia Hoggett, CEO of the London Stock Exchange Group (LSEG), has called for a shift in the UK's "perverse" approach to retail investment. Speaking on the Following the Rules podcast, she highlighted that it is currently easier for retail investors to put their money into crypto than heavily regulated assets such as corporate debt or government bonds, as reported by City AM. "We have a regulatory structure that has historically made it easier to buy a riskier product and then hardest to buy the least risky product in the stack, which is perverse," she stated. "(Debt) sits higher up the cap table in terms of its credit worthiness than equity, and yet we have made it harder for retail to buy plain vanilla debt...than we have equity or crypto," she added. Hoggett argued that it should be "much more straightforward" for retail investors to engage in these markets, which would help reduce the cost of capital for businesses and stimulate growth. Post-financial crisis rules classified bonds issued under £100,000 as retail products, subjecting them to closer scrutiny. This inadvertently discouraged companies from issuing smaller denominations and excluded individual investors from the market. A recent report by Barclays revealed that US retail investors held approximately $6.2 trillion in debt securities at the end of Q3 2024, while only 36 corporate bonds from 21 firms were listed in the UK's orderbook for retail bonds. Hoggett highlighted the discrepancy in regulatory approaches, noting that while corporate debt remains under tight control, retail investors are granted "all the access to (crypto) in the world". In a recent move, the Financial Conduct Authority (FCA) proposed measures to facilitate retail investors' entry into the corporate bond market by reducing paperwork for smaller debt portions. Hoggett sees this as indicative of a wider issue with risk aversion, which she believes has significantly hindered economic growth. "The UK's got the second largest pool of institutional capital in the world. We have not been spending it on ourselves as a nation, and we have been de-risking it to a point that has not been healthy for ourselves," stated the LSEG chief. She pointed out that the UK's investment shortfall could be up to eight per cent less than that of its G10 and G20 counterparts, leading to lower growth and consequently reduced tax revenue for public services. Hoggett argued against a "zero failure regime" in the UK, advocating instead for practical KPIs that could drive investment funds and regulators towards goals like advancing the green energy transition or enhancing financial security for retirees.
2025-09-18 21:20:36
Poundland considering 'all options' as it struggles and shuts 13 stores
Poundland’s owner is mooting a possible sale of the UK discount retail chain as it struggles amid tough sales and before incoming budget measures that will send wage costs soaring. Poland-based Pepco said it was considering “all strategic options” to spin out the struggling 825-strong chain from the wider group as focus on its more profitable Pepco brand. It said Pepco makes the “vast majority” of group earnings and the group wants to “further build on that strong base ultimately as a single pan-European format”. The group said: “Poundland is a strong brand that serves millions of customers every week and had around 2 billion euros (£1.67 billion) in annual turnover in financial year 2024, but it is also operating in an increasingly challenging UK retail landscape that is only intensifying. “From April 2025, the UK Government’s additional tax changes announced in the budget will also add further pressure to Poundland’s cost base. “Therefore, the board is actively evaluating all strategic options to separate Poundland from Group during financial year 2025, including a potential sale.” In January, the parent firm of Poundland said it was taking “immediate measures” to turn around the performance of the chain after a sharp drop in sales. Pepco Group said the UK business, will increase the number of products it sells for £1 or less as part of efforts to get the chain “back on track”. In recent years, Poundland has expanded its range of products being sold at price points above £1 in an effort to take on rival retailers such as B&M. However, on Thursday, the retailer said: “We are refocusing on its long-time strengths, such as recently increasing the number of core items at £1 or below from 1,500 to almost 2,400 in all UK stores.” Pepco said that recent trading at Poundland stores was challenging as the UK retail environment became tougher towards the end of 2024. Poundland revenues slid by 9.3% for the three months to December 31, with like-for-like sales down 7.3%, as it witnessed weaker clothing sales. The group also confirmed that it closed 13 Poundland stores over the quarter, with only two new store openings. It stressed that Poundland will not increase its store numbers over the current financial year as it focuses on improving sales. Meanwhile, the wider Pepco Group saw overall revenues grow 8.4%, supported by the opening of new Pepco and Dealz stores. Stephan Borchert, chief executive officer of Pepco Group, said: “The group delivered a mixed performance in its first quarter, with a strong performance from both the Pepco and Dealz brands, partially offset by Poundland’s ongoing challenges. “Poundland saw like-for-likes fall, largely driven by continued underperformance in clothing and general merchandise following the transition to Pepco-source product.
2025-09-18 04:49:15
UK shop prices drop as food inflation soars, British Retail Consortium reports
2025-08-24 04:35:38
Co-op admits to 107 breaches of order to stop blocking rivals from opening nearby
2025-08-29 20:53:56
Ocado CEO's pay jumps to £2.6m despite heavy losses and share price slump
2025-08-31 18:19:32
Shein: Fast fashion giant found two cases of child labour in 2024
2025-08-27 19:48:13
Supermarkets see varied fortunes amid rising sales with Asda continuing to struggle
2025-09-17 05:10:29
Government approves controversial M56 Tebay-style service station despite local opposition
2025-08-25 20:05:04
On the Beach sees continued travel demand as summer bookings soar
2025-09-14 12:59:13
Harvey Nichols to close Beauty Bazaar in Liverpool ONE
2025-09-09 18:17:31