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Use of cash plummets in UK as payments switch to cards and digital

Use of cash plummets in UK as payments switch to cards and digital

Cash continues to lose its appeal, especially among young consumers, as payments using bank notes and coins dropped 35% last year. More than eight in 10 people in Britain now use contactless payment.
Fashion
Pepco in deal for 29 Austrian stores

Pepco in deal for 29 Austrian stores

Poundland, Pepco and Dealz owner Pepco Group has signed a framework agreement with CCC Austria for the acquisition of up to 29 store leases in Austria.
Fashion
UK faces retail labour crunch as EU workers stay away

UK faces retail labour crunch as EU workers stay away

​A potential UK retail jobs crisis is looming. The number of EU nationals seeking work has collapsed since Brexit, according to a new report from jobs website Indeed, with the decline hurting lower-paid sectors.
Fashion
Vera Wang debuts Prosecco line

Vera Wang debuts Prosecco line

Luxury fashion designer Vera Wang unveiled on Wednesday a new premium Italian Prosecco brand. 
Fashion
UK commercial eviction ban to be extended again

UK commercial eviction ban to be extended again

​Struggling retailers can breathe a sigh of relief. The UK has extended the ban on commercial evictions until March 2022. That means the moratorium for business tenants won't now expire at the end of this month.
Fashion
Westfield owner names Puechoultres new chief customer officer

Westfield owner names Puechoultres new chief customer officer

Global mall giant Unibail-Rodamco-Westfield (URW) wants to become a more customer-focused organisation. So the Wesfield owner has appointed Caroline Puechoultres as its new chief customer officer, effective immediately. 
Fashion
Oxford Circus to 'rival Times Square' in transformation drive

Oxford Circus to 'rival Times Square' in transformation drive

An ambitious plan to transform Oxford Circus into pedestrian-friendly piazzas has been announced with an international design competition kicking off to decide just how the key shopping area will look for decades ahead.
Fashion
Ikea fined $1.2 million in French employee spy case

Ikea fined $1.2 million in French employee spy case

A French court on Tuesday ordered Ikea to pay a 1 million euro fine in a spy case involving its employees, as the world's biggest furniture retailer was found guilty of storing employee data it obtained improperly.
Lifestyle
JOOR raises $46m to aid faster growth and innovation

JOOR raises $46m to aid faster growth and innovation

​Major digital fashion wholesale platform JOOR has announced that it has raised $46 million in Series D funding and will use the new cash to accelerate its growth and focus even more on innovation.
Fashion
H&M Group sales rise in Q2, but pandemic restrictions are still an issue

H&M Group sales rise in Q2, but pandemic restrictions are still an issue

​H&M Group’s net sales rose as much as 75% in local currencies during Q2 (the March to May period), although given the strengthening Swedish Krona, its revenues translated into ‘only’ a 62% rise on a total basis.
Fashion
Boohoo sales surge in Q1, but some markets are challenged

Boohoo sales surge in Q1, but some markets are challenged

Boohoo’s trading update on Tuesday showed that the pureplay e-tailer continued to prosper in Q1, even after UK physical stores reopened in April, although there were challenges in some markets and margins were squeezed.
Fashion
​UK weekly footfall suffers as shopper numbers dip

​UK weekly footfall suffers as shopper numbers dip

Footfall across all UK retail destinations couldn’t maintain some impressive gains made at the start of the month, falling 6.7% week-on-week in the seven days spanning 6-12 June, latest Springboard data shows. 
Fashion
Ted Baker hit hard by lockdowns but is now "in a much stronger place"

Ted Baker hit hard by lockdowns but is now "in a much stronger place"

​Ted Baker’s twice-delayed full-year results looked grim on Monday as the fashion retailer announced a 44%+ drop in revenue and a pre-tax loss that widened by almost 39%. But its CEO was upbeat about its prospects.
Fashion
Fear factors prevent UK shoppers from buying online from EU, says study

Fear factors prevent UK shoppers from buying online from EU, says study

Fakes, delays, customs and foreign languages. These are the biggest fears preventing UK e-commerce consumers making cross-border purchases from the EU, according to a new report commissioned by Weglot.
Fashion
John Lewis improves employee support programme, extending parental leave

John Lewis improves employee support programme, extending parental leave

John Lewis Partnership, the UK’s largest employee-owned retailer, has improved its support package for working families and young people leaving the care system.
Fashion
​Gee joins Grosvenor Group, set to become chair of its Britain & Ireland board

​Gee joins Grosvenor Group, set to become chair of its Britain & Ireland board

Grosvenor Group has appointed Melanie Gee, initially as a non-executive director, with a view to her becoming chair of the Grosvenor Britain & Ireland (GBI) board. She is set to succeed Jonathon Bond from September.
Fashion