By Reuters Published Aug 27, 2024 More than 3,500 current and former shop workers at British retailer Next have won a six-year legal fight for equal pay, lawyers representing the claimants said on Tuesday. An Employment Tribunal ruled that Next had failed to show that paying its sales consultants, who are overwhelmingly women, lower pay [...]read moreThousands of workers at UK retailer Next win equal pay case
By Reuters Published Aug 22, 2024 LVMH-owned beauty retailer Sephora is cutting its workforce in China, the company said on Wednesday, as consumers curb their spending on creams and make-up in the world’s No. 2 economy. Reuters Sephora, which sells largely high-end, or “prestige”, perfumes and make-up, previously had around 4,000 employees in the country, [...]read moreBeauty retailer Sephora cuts China jobs as market slumps
By Bloomberg Published Jun 14, 2024 Richemont’s luxury e-commerce platform Yoox Net-A-Porter is pulling out of China, as weak consumer spending puts increasing strain on high-end brands’ operations in the world’s second-largest economy. Net-A-Porter The digital retailer known as YNAP plans to focus investments and resources on its core and more profitable geographies, a Richemont [...]read moreRichemont’s Online Luxury Retailer Net-A-Porter to Exit China
By Reuters API Published May 9, 2024 Polish footwear and fashion retailer CCC said on Thursday its first-quarter earnings more than tripled as profitability improved across all its business lines. Reuters Preliminary earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 304 million zlotys ($76.41 million) compared with 89 million in the year-earlier [...]read morePolish retailer CCC’s first-quarter earnings jump 244%
The number of retailers going insolvent in Britain has leapt 19% in the past year with a spate of big-name failures including The Body Shop, Ted Baker, Farfetch, Matches and Wilko. Photo: Pexels This insolvency rate is the highest in five years and has intensified in just the past few months – a situation not [...]read moreRetailer insolvencies accelerate, fashion hit hard
The Body Shop’s insolvency practitioners are planning a company voluntary arrangement (CVA) to help it survive as the full extent of its money problems has become clearer. DR Several reports said FRP Advisory is drawing up plans for a deal that would allow the business to negotiate with its landlords in the hope of achieving [...]read moreBody Shop administrators plan CVA, retailer owed £276m before collapse
Fast fashion group Shein’s profits will become public knowledge in future, whether it lists in London or New York, but for now, we have to rely on secondhand information. Shein That info — about its 2023 results — comes from The Financial Times, which cited “a financing document” it had seen and “four people close [...]read moreShein profits surge in build-up to IPO, now ‘world’s biggest fashion retailer’
Retailers and brands that outsource post-purchase updates to third-party fulfilment or courier companies could be missing out on valuable customer engagement opportunities. That’s according to the latest research from delivery management platform Scurri. Scurri In its ‘Getting personal in the last mile and beyond’ report, research among 1,000 UK consumers showed that 81% always open delivery updates [...]read moreRetailer branded emails are key for boosting engagement
By Bloomberg Published Jan 16, 2024 Uniqlo, part of Fast Retailing Co., sued Shein in Japan, accusing the Chinese retailer of copying its popular Round Mini Shoulder bag. Uniqlo The entities that operate the Shein brand must immediately cease sales of “imitation products” and compensate for damages, Fast Retailing said in a statement Tuesday. The [...]read moreUniqlo sues Shein, saying retailer copied popular shoulder bag
By Bloomberg Published Jan 8, 2024 Central Retail Corp., one of Thailand’s biggest retailers, said that it has not received any communication about investing in the iconic Selfridges department store, which is majority owned by its parent company. Selfridges Responding to recent news about Selfridges’ cash crunch, the statement clarified that the company was not [...]read moreThai retailer says it’s received no communication about Selfridges investment