Today’s news in brief-12/9/24
John Lewis Partnership reported a significant improvement in financial performance, narrowing pre-tax losses to £30m from £59m. Total revenue rose 2% to £5.2 billion, with Waitrose seeing a 5% sales increase. Investment in transformation, including new stores and digital initiatives, remains robust.
PwC’s latest data reveals a rise in shop closures to 38 per day in the UK, totaling 6,945 exits from high streets and retail spaces. Despite this, grocery stores and convenience outlets show resilience, while online retail continues to grow, impacting fashion and other sectors.
The Supreme Court ruled against Tesco’s attempt to dismiss staff at certain distribution centres and rehire them on lower pay, following a legal challenge by trade union Usdaw. The decision reaffirms protections against such employment practices, marking a victory for labour rights advocates.
Iceland Foods has launched a significant product expansion, including exclusive lines like Jamie Oliver’s new frozen dishes and innovations in Asian and American cuisine. This move aims to diversify offerings and attract customers with new flavours and meal deals.
Co-op announced a threefold increase in member deals across its stores, offering significant discounts on everyday essentials and branded items. This initiative follows a £70 million investment in pricing strategy to enhance customer value and loyalty.
Online beauty brand Trinny London debuted its flagship store on King’s Road, featuring interactive product-play spaces and personalised makeup consultations. The store enhances the shopping experience with innovative try-on technology and skincare inspirations.
