The problems for Cath Kidston, like so many other ‘legacy’ UK retailers, started after the global financial crash in 2008. Having been privately owned from its founding back in 1993, and with fewer than 20 stores in 2010, a stake was then sold to US-based private equity firm TA Associates in a deal that was … Continue reading Cath Kidston problems go back almost a decade: it’s not just about COVID-19
On 1 November 2018, the BBC published an article on the front page of its website which warned that more than 200 UK shopping centres were in danger of falling into administration. The article quoted me as agreeing that this risk was real because there are "too many of them (shopping centres) doing exactly the … Continue reading Future of many UK Shopping Centres in doubt as impact of COVID-19 adds to their problems
Note - This blog was previously published on the Nottingham Trent University website at https://www.ntu.ac.uk/about-us/news/news-articles/2020/03/expert-blog-its-not-all-about-panic-buying-with-covid-19 As 21st-century consumers, we are now used to having thousands of grocery products available on our local supermarket shelves 24/7 but then in a matter of days, this has suddenly been in question. However, a closer look at the business … Continue reading COVID-19: It’s not all about ‘panic buying’
The 2019 results announced earlier today by the UK’s biggest shopping centre owner, Intu Properties plc are worrying for many UK towns and cities - in particular it’s warning of a “material uncertainty” over its ability to continue as a going concern as it reported a £2 billion loss driven by a sharp decline in … Continue reading Retail in Nottingham – Intu the Future?
Back in early 2018, after almost a year of testing with its employees, Amazon opened its first Amazon Go store to the public in Seattle. The cashier-free convenience store concept, which used Amazon’s ‘Just Walk Out’ technology, gathered a huge amount of media coverage around the world as well as long lines of shoppers outside … Continue reading Just when you thought things had gone quiet, it’s all Go with Amazon!
Today’s unaudited John Lewis Partnership (JLP) results for the year ending 25 January 2020, and the accompanying announcement, make for interesting reading, as always. The top line numbers were in line with many predictions. For John Lewis operating profits (before exceptionals and IFRS 16) were down significantly from £75m to £40m, driven by weaker sales … Continue reading What do today’s JLP results and accompanying announcement tell us?
(Image Credit - https://www.shrm.org) Whilst every year, the second week of January brings news of trading performances over the key Christmas sales period, is seems that this year has already produced an unprecedented number, and variety, of announcements from UK retailers. Although any sensible comparison between retailers’ Christmas trading performances is almost impossible to make, … Continue reading Who would have thought that 2020 would be a year of real challenge for JLP and Joules?
Company Voluntary Arrangements (CVAs) were introduced by the Insolvency Act 1986. They are a formal insolvency procedure by which a company can make a proposal to creditors to deal with its debts, and have seen an increased level of use and awareness in the last few years, having been focussed on the retail sector As … Continue reading Company Voluntary Arrangements (CVAs) – sticking plasters or real solutions?
Over the next year, it’s very likely that many parts of UK retail will continue to struggle, and things will be challenging for all those involved. As we start this new decade, I have identified four areas where I believe that societal, economic or technological change will increasingly impact the sector. Consumers have all the … Continue reading 2020 – Another Challenging Year for UK Retail.
In my opinion, UK Retail is struggling to adapt quickly enough to the new retail reality because of it's combination of economic and commercial, societal and technological factors all of which are conflating to make the things extremely challenging for every part of the UK retail sector and for all retailers, whether they have local, … Continue reading UK Retail – a dynamic mix of economic, commercial, societal and technological change!