Costa Coffee has said 1650 high street staff are at risk of redundancy as it looks to cut costs amid continued uncertainty.
It shares the burden of responsibility between landlord and tenant.“Winston Churchill said: ‘Never let a good crisis go to waste.’ I hope we will make the changes that are critical to the long-term survival of the retail business.”The crisis has accelerated calls for more widespread adoption of flexible leasing structures and performance-based rents, which would require increased transparency from both parties.Coronavirus has led to many household names slashing stores on local high streets, exposing the need for the targeted regeneration of town centres. Many occupiers believe the rates are outdated and not representative of current property values and in some cases are higher than rents.“We have already seen the larger retailers re-evaluate which of their stores they can reopen [after lockdown] profitably,” says Julian Dunkerton, chief executive of Superdry. She describes the state of high streets as “fragile, nervous and uncertain”. Browse The Independent’s complete collection of articles and commentary on Fashion and Retail. The months-long enforced closure of stores has left fashion retailers struggling to pay their rent bills, creating a spike in company voluntary arrangements and bringing into sharp focus the need for rental reform.But Charles Clinkard, managing director of the eponymous footwear retailer, argues that the current government support “is not enough”: “They need to force and legislate landlords to contribute to the issue retailers face of having rents to pay with no revenue for 14 weeks,” he tells Drapers. The government has offered extraordinary aid to help businesses weather the storm, including the Coronavirus Job Retention Scheme, business grants, tax breaks and loans for businesses big and small.However, as these programmes come to an end, the retail industry is left grappling with reduced footfall and high streets scarred by empty stores. The level of retail sales will not regain last year’s level (2019) until 2022. It is open to fashion retailers with at least one physical shop in the UK, as well as other industry stakeholders, including property agents and landlords.The fashion retail industry has long been calling for fundamental change to the business rates system.
The latest international fashion retail news, including statistics and portfolio of UK based and international companies. Find the latest news, headlines, blogs and video about retail, consumers, shopping and retail companies from CNBC.com. An initial survey will help inform our campaign and help us put pressure on the government.
Amazon is set to create 10,000 jobs in the UK this year in a “clear vote of confidence in the UK economy”. Through a series of in-depth articles, surveys, roundtable debates and government lobbying, Drapers aims to bring about long-overdue reform to fashion retail, with a particular focus on breaking down the barriers to successfulOver the coming months we will delve deeper into each area of the campaign, informed by your views on what is needed to reset fashion retail. With the UK now in recession and Brexit looming on the horizon, consumer confidence is likely to remain low.To support the industry’s recovery, Drapers is launching the Reset Fashion Retail campaign, focusing on three key areas: business rates, retail rents and leases, and local regeneration.
Retail industry news, analysis, video and key retail market data – from across the entire retail sector.
The government has offered extraordinary aid to help businesses weather the storm, including the Coronavirus Job Retention Scheme, business grants, tax … This site uses cookies. THE NEW 2020 RETAIL FORECAST. Announced by … Our survey seeks to ascertain which of the government’s proposals has the broadest support from readers.
PLACE : Taets Art and Event Park | Amsterdam DELIVER is Europe’s biggest and most attended elite e-logistics event bringing together...This website uses cookies to improve your experience. The UK online apparel market accounted for 24 per cent of all clothing sales in 2018, with £11.6 billion out of £48.1 billion retail sales coming directly from digital purchases.With the exception of Amazon, Next’s brand name was Googled the most between May 2018 and April 2019, earning 82 million searches during this period.John Lewis fell just behind the high street retailer, receiving more than 60 million searches between May 2018 and April 2019, while 50 million searches were conducted for both fast-fashion brand Asos and department store Debenhams.
Visit our The UK online apparel market accounted for 24 per cent of all clothing sales in 2018, with £11.6 billion out of £48.1 billion retail sales coming directly from digital purchases. As traditional players and emerging fashion brands look to increase their online presence, it’s clear that If retailers choose to accept new challenges, transform digitally and adopt a strong online brand strategy, they have a chance to stand out and break barriers in the competitive, ever-changing fashion industry.
We’ve just been closed for three months so there is a big hole where that revenue should be, partly ameliorated by furlough, rates holidays, some supportive landlords and online business, but still pretty significant. The strong performance of the brands behind quick, cheap clothing suggests the craving for throwaway outfits among consumers remains significant. We Googled "Choosing a B2B ecommerce platform" and we got 5,090,000 results. Learn more and read our policy. Read the breaking Retail coverage and top headlines on Forbes.com
“The creation of more BID districts would help, alongside retailers talking to each other and sharing experiences and ideas.”Victoria Suffield, owner of The Hambledon in Winchester, says: “Interim financial support may be the best way to get through this critical period. Capri Holdings has appointed a new chief executive for luxury footwear retailer Jimmy Choo.