Today’s news in brief-12/7/24

Carpetright, facing intensified competition and reduced demand, has enlisted PwC to explore a potential sale. This move, likely to proceed as a pre-pack deal or a company voluntary agreement, aims to stabilise the company amidst financial pressures exacerbated by recent cyberattacks and operational restructuring efforts. The retailer has already initiated significant cost-saving measures, including a reduction in head office staff.

Currys has unveiled plans to refurbish 50 of its largest stores across the UK, enhancing customer experience with new product categories and seasonal offerings. This initiative underscores Currys’ commitment to its omnichannel strategy, catering to evolving consumer preferences and bolstering its position as a leading electronics retailer. Recent refurbishments at selected megastores highlight the retailer’s focus on integrating online capabilities with in-store shopping.

Dr Martens has confirmed that its financial performance aligns with expectations for the current year, emphasising a strong focus on the autumn/winter season. Despite earlier challenges reflected in a decline in annual revenues and profits, the footwear brand remains optimistic about its strategic initiatives, including substantial cost-saving measures aimed at enhancing operational efficiency and profitability.

The Groceries Code Adjudicator (GCA) has issued a warning to Amazon, highlighting deficiencies in compliance with the Groceries Supply Code of Practice. Amid improvements in managing cost price increases and resolving invoice discrepancies across the industry, Amazon’s compliance score has declined, prompting scrutiny and potential regulatory action. The GCA stresses the importance of swift and comprehensive corrective measures by Amazon to ensure fair treatment of suppliers.