Author: Scott Dylan

Sainsbury’s is piloting larger self-checkout systems following its CEO’s focus on store efficiency.The new self-checkouts include conveyor belts and bagging areas, replacing traditional cashier roles.These tills are similar in size to manned checkouts, accommodating full trolley shopping.Currently trialed in two stores, these checkouts have been well-received by customers.Sainsbury’s is also trialling technology to assist shoppers in locating products, aiming to cut costs and improve profits.Sainsbury’s has initiated a trial of larger self-checkout systems to advance operational efficiency. These systems feature conveyor belts and designated bagging zones, stepping in for traditional cashier roles while maintaining customer interaction through self-scanning processes. These…

The CEO of Boohoo steps down following a dramatic decline in overseas sales, highlighting challenges in the competitive e-commerce market.John Lyttle, after five years at the helm of Boohoo, announces his resignation amidst a significant 90% drop in share value.The company faces stiff competition from Shein, whose rapid growth in the UK exacerbates Boohoo’s market challenges.Boohoo’s recent report shows a 7% decline in gross merchandise value, significantly affecting their market position.Despite securing a new £222m debt facility, Boohoo explores strategic options to unlock shareholder value.The departure of John Lyttle as CEO marks a turbulent phase for Boohoo, a major British…

In 2023, UK retailers faced startling losses from cyber attacks and fraud.An alarming £11 billion was lost due to fraud, threatening business viability.Retail margins are under pressure, making fraud a potential death knell for some.Eric Horgan, a key expert, provides strategies for tackling these challenges.AI’s role in enhancing fraud threats is a significant concern.In the past year, UK retailers have been confronted with a daunting figure: £11 billion lost due to cyber attacks and fraudulent activities. This substantial loss highlights the increasing threat to retail operations, which already operate on narrow profit margins. For many businesses, such financial losses could…

Hobbycraft, the arts and crafts retailer, has reported a significant decline in its profits for the year ending 18 February 2024, despite witnessing revenue growth and improved margins.The company’s profits fell sharply by 80%, impacted by one-off costs and inflationary pressures, reducing from £2m to £393,000.Despite the profit drop, Hobbycraft improved its gross margins and adjusted EBITDA, showing resilience in financial management.The retailer expanded its physical presence with seven new stores and a significant enhancement in digital offerings.Hobbycraft remains optimistic about future growth, underpinned by strong initial performance in the new financial year.Hobbycraft, renowned in the arts and crafts sector,…

Liverpool’s planning committee is set to review a proposal for a new hotel next to Everton’s stadium.The proposed five-storey hotel will offer 80 rooms and views of the 52,888-seat stadium.The site includes a Grade II listed former mill, integral to the hotel’s design.The development aims to revitalise the Ten Streets area and reuse historical architecture.A central lounge will connect two bars, enriching the local leisure offerings.Liverpool’s planning committee is poised to consider a proposal for an 80-bed hotel to be located near Everton’s new stadium at Bramley-Moore Dock. Situated on Regent Road, the establishment promises striking vistas of the new…

Mothercare announces a major refinancing deal and a strategic joint venture.The company has secured an £8m debt facility with Gordon Brothers.A new joint venture with Reliance Brands raises £16m for South Asia.Reliance will hold a 51% stake in this joint venture, covering several countries.Mothercare anticipates strong growth and reduced indebtedness from these deals.In a significant move, Mothercare has successfully secured an £8m debt facility with Gordon Brothers, bolstering its financial foundation. This strategic refinancing replaces a previous £19.5m loan, reducing the interest rate from 13% to a more manageable 4.8% per annum.The company has also initiated a joint venture with…

Fashion brands are preparing for new Extended Producer Responsibility (EPR) regulations.EPR extends producers’ responsibility to the post-consumer stage of a product’s life cycle.Textile EPR schemes aim to enhance recycling and reuse, impacting the environment positively.Upcoming webinars will discuss challenges, opportunities, and strategies related to EPR.Industry experts from New Look and Reconomy will share insights on EPR readiness.Fashion leaders are gearing up for the implementation of new Extended Producer Responsibility (EPR) regulations, which are poised to reshape the industry. These regulations extend a producer’s responsibility to include the post-consumer stage of a product’s life cycle, compelling companies to address the environmental…

The UK government has announced impending BNPL regulations.New legislation aims to introduce affordability checks and consumer safeguards.A consultation with firms and regulators is set to conclude by November 2024.Final rules will be presented to Parliament in early 2025, with implementation planned for 2026.Economic Secretary Tulip Siddiq leads the charge, criticising previous delays.The United Kingdom government is preparing to implement new regulations around Buy Now, Pay Later (BNPL) services. These are aimed at introducing affordability checks and enhancing consumer protections to prevent customers at risk from accumulating excessive debt. Economic Secretary to the Treasury, Tulip Siddiq, has spearheaded this initiative.A consultation…

Yomi Tejumola, founder of an AI company, has been named one of the UK’s ‘most ambitious’ bosses, leading a fast-growing enterprise.Tejumola founded Algomarketing in 2017 to automate mundane tasks, which now operates globally, with clients including Cisco, Google, and Zoom.Recognised by LDC and the Times, Tejumola is among 50 leaders at high-growth companies promoting sustainability and international expansion.Algomarketing aims to enhance productivity and wellness through algorithmic marketing, tackling repetitive tasks in marketing operations.Algomarketing derives 65% of its revenue internationally, with ambitions to reach a £150m turnover by 2030.Yomi Tejumola, the London-based founder of a fast-growing AI company, has been included…

In a significant move towards enhancing supplier relations, Tesco is implementing a streamlined payment process designed to foster trust and efficiency.The retail giant has expanded its Good Faith Receiving (GFR) system, which aims to facilitate a more efficient payment process and minimise disputes related to stock deliveries. The GFR system is based on the principle that the majority of supplier deliveries are accurate, thus allowing payments to be processed promptly without being hindered by discrepancies in delivery volume or stock conditions. Any issues are subsequently addressed, generally on a quarterly basis.After a successful trial period with its chilled suppliers, where…