Today’s news in brief-13/9/24
Logistics UK warned that new EU fingerprint and facial recognition checks for non-EU passengers at Dover could cause delays, impacting fresh food deliveries crucial for Christmas. The Entry/Exit System (EES) implementation from November 10, 2024, threatens significant disruptions, prompting calls for public awareness campaigns.
The British Retail Consortium (BRC) asserted that the retail sector bears disproportionate tax burdens, paying 7.4% of all business taxes despite comprising 5% of GDP. Business rates, accounting for 11% of retail profits, are cited as particularly burdensome, contributing to store closures and job losses across the UK. The BRC urges a 20% Retail Rates Corrector in the Autumn Budget to alleviate pressures.
Anthony Hemmerdinger has been appointed as the new managing director of Boots UK and Ireland, succeeding Seb James. With over 30 years in retail, including roles at Asda and Marks and Spencer, Hemmerdinger aims to build on Boots’ transformation and enhance its position in the health and beauty sector.
Frasers Group plc acquired St Nicholas Arcade in Lancaster, reinforcing its commitment to physical retail in the UK. With nearly 4 million annual visitors, the 160,000 sq ft. shopping centre is seen as a strategic move to revitalise high streets and expand Frasers’ real estate portfolio.
Luxury digital platform Mytheresa reported a 9.8% increase in net sales to €840.9m for FY24, driven by accelerated profitability in the US market. The fourth quarter saw significant improvements in adjusted EBITDA, reflecting strong customer satisfaction and high average order values.
Hotter Shoes’ parent company Wourth Group acquired German retailer Peter Hahn out of administration, aiming to strengthen its presence in Western Europe and the UK. The acquisition is expected to enhance direct mail capabilities and expand customer reach, particularly in the DACH region and the Netherlands.
