Nic Crossick

Sky News reports that Mulberry England has rejected a takeover bid from Frasers Group which already owns 37% of the company. Fraser in press release sated that it had been kept in the dark last week about Mulberry trying to raise cash and downgrading their financial outlook. #luxuryretail #ukretail #mergers #stockmarketnews #retailnews

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Another set of strong results from TJX this morning. Quarterly sales are up by 6.0%, adding to a string of gains. For the nine-month period to-date, TJX’s sales are up by 35.6% over 2019 – an increase of $10.5 billion in monetary terms. The consumer mood for value-focused indulgence is firmly in TJX’s camp, but the retailer deserves enormous credit for translating this into sales gains through great buying skills. There is also a very solid consistency to the TJX numbers which underlines how well the business executes on its plans, even in an environment that is very changeable. This operating prowess extends from corporate offices down to regional and store management teams. There is an air of quiet competence about TJX and its teams at all levels – and this should not be underestimated in driving success. #retail #retailnews #value #offprice #apparel #homewares The TJX Companies, Inc.

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As a retail expert I discussed whether John Lewis & Partners can reverse its fortunes with Drapers news editor Elizabeth Howlett: There's a long road ahead, however, with current turnaround efforts expected to take until 2027/28 to bear fruit. John Lewis's interim results, released on 14 September 2023, painted a bleak financial picture for the retailer as operating profit declined by 6% year on year to £277.1m for the 26 weeks ended 29 July. Its losses narrowed by 14% year on year to £57.3m in the period. “The question is whether John Lewis is going the same direction as Allders, Arcadia Group, Debenhams and House of Fraser,” said Andrew Pepper, partner at business advisory RESOLVE.  (I was Administrator of Allders and advised the lenders on House of Fraser. I see lots of similarities.) “They will look at their property portfolio and look at their most successful premises and their least and explore if there is a way to right size its portfolio to be smaller on footprint, but more profitable.”   Pepper also pointed out that strong staff loyalty has some disadvantages. The partnership currently has a score of 3.8 out of 5 on open company review platform Glassdoor, with 70% of the 4,451 anonymous reviews from current and former employees recommending the company to others, with many citing good wages and employee benefits. While this has been a huge benefit to John Lewis over the years, as it has likely meant lower staff turnover and a good employer brand reputation, it could also mean larger redundancy packages. “John Lewis [and Waitrose] is a lovely place to work, so they likely had good redundancy terms and had people who had worked there for 20 years. Unlike other retailers, the movement of staff through [John Lewis] likely isn't that much,” explained Pepper. “By implication that means you have lots of people working there for 10-20 years, and the [redundancy] cost will be disproportionately higher.” Read more via Drapers, below. https://lnkd.in/eD5JPxHx #ForwardWithReSolve #privateequity #debtfinancing #thebodyshop #restructuring #administration Turnaround Management Association (TMA UK) Institute of Directors (IoD) R3 Association of Business Recovery Professionals Richard Obank Retail Trust #turnaround UK Government Investments (UKGI) Foot Anstey LLP M&G plc Barings BlackRock Russell Jarvis Evelyn Partners Philip Kirkpatrick Kirkland & Ellis Close Brothers Arbuthnot Latham Bank Leumi בנק לאומי UK PNC Metro Bank (UK) Santander HSBC RESOLVE Maddox Legal Limited CMS UK Shawbrook Bank ABN AMRO Commercial Finance Praetura Commercial Finance Arnold Vos Retail Realisation Rothschild & Co #venturecapital Bantry Bay Andrew Buchanan Buchanan #retail British Land Mike Thompson MBE @CVC Capital Partners #ForwardWithReSolve #retailnews #turnaround

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John Lewis & Partners have published their 11th annual ‘How we Shop, Live and Look’ report, which looks back at the products and trends that defined the past year. Crammed full of insights and trends including the growing importance of ‘Social Shopping’ - how we enjoy shopping together and the impact on product sales of this years poor weather. Read and download the full report here - https://lnkd.in/ew-hF4G2 #retail #consumers #trends #insights

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The power of brand and customer service - a lesson from John Lewis In today's distinctively competitive landscape, a brand is only as strong as the customer service it provides. John Lewis’s recent initiative to revamp staff roles underscores a crucial business truth: exceptional customer service is not just a department, but the backbone of a brand’s reputation. By investing in their people, they are reinforcing the trust and loyalty that have defined their brand for generations. For me this move serves as a reminder to all businesses, prioritise your customers, and your brand will thrive!!!! #CustomerService #BrandBuilding #Leadership #BusinessStrategy

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Picture this: it’s the summer holidays, and a new school year means new shoes. What part of this experience are you most excited about? If you said ‘getting my foot measured in one of those gauge things’ you aren’t alone. For many kids, the nostalgia of school shopping is closely tied to in-store experiences. Something that Clarks has been doing for decades with their iconic Foot Gauge. The best thing about it? It’s simple. Reading this article from Simon Blunt took me right back to those school shopping days – have a read if you want a detailed dive into simple and memorable retail experiences in a world full of advancing technology. #Clarks #SummerHolidays #ExperientialRetail #RetailInnovation

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Great news for those high streets. Adapting store formats to suit smaller local markets is definitely the way forward. We all know that the more touch points customers have with a brand, the more they’re likely to spend overall. A curated range in a small store format on a demographically aligned high street is a win win and a great strategy for growth. It’s also a great strategy for the town - you can bet that once a small format The White Company store opens, other brands with a similar aspirational niche will join them. From a personal point of view, I’d love to see Knaresborough Hight Street following a similar trend. #localisation #evolvinghighstreet #curatedproductrange #thewhitecompany #propertymarket

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Lots of good conversations at the latest Hair and Barber Council meeting 🗣️ Important topics to support progress in the Professional Hair Industry 💇‍♀️ 💈 Click here to find out more about the Hair and Barber Council #hairandbarbercouncil #regulation #hairdressing #progress

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Many British retailers and brands are focusing or refocusing their efforts on the US market - fascinating reading....From ceramics to timepiece accessories to socks, niche British businesses are tapping into the high-end market across the Pond. Manhattan is a long way from the pottery kilns of Stoke-on-Trent, but the high-end China cups and saucers made by Richard Brendon look at home in New York’s famous Saks Fifth Avenue department store. The United States is now the eponymous tableware brand’s fastest-growing and largest retail market, with the entrepreneur, who received the 2024 King’s Award for Enterprise, broadly unfazed by the rumblings of a recession amid America’s slowing economy, with soaring unemployment and interest rates. “In the UK we’re at the top end of the luxury market,” Brendon said of a range that also includes crystal glassware that is stocked in Harrods, Fortnum & Mason, and Liberty. London. “In the US there’s more independent tableware retailers with a much higher average customer spend, so we have more options. It may not be the time for investment, but it still feels like the US is open for business, with the customer willing to pay.” #sellingintotheUS #britishcraftsmanship #britishbrands #usmarket

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Danni Hewson, head of financial analysis at AJ Bell, comments on the latest UK retail sales figures. #UKRetail #Sales Read the full piece below

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Asos plunges to £120m loss as sales nosedive amid turnaround plan Asos losses widened to £120m in its half year as sales plummeted amid its turnaround plan. Adjusted pre-tax losses fell by almost a third over the half to 3 March, as group sales were down 18%. Despite this, Asos reiterated its full-year guidance of a revenues fall of between 5 to 15% alongside positive adjusted EBITDA. The online retailer said it was ahead of plan with its stock reduction process, as it continued to push ahead with its turnaround plan. Asos offloaded 83% of its autumn collection, making it a 17% improvement from the same time last year. #asos #online #retailer #ecommerce #stock #sales #plan

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Interesting to see UNIQLO do something different with the eCommerce experience. More intuitive and leans to the old Fjord-ian experiential comparisons that consumers do (shopping for clothes isn't the same as the smoothest app on my phone like Airbnb or Uber, but I still compare them). Thanks to eConsultancy for tipping me off on this - good article here (https://lnkd.in/eqUwqegc) looking at the trade off between surprise and delight and accurate search and browse. Differentiation had proven to be tricky in ecommerce recently (and not just ecommerce - anything online). https://lnkd.in/eU3kSGNw

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Charles Tyrwhitt expands to 50 stores with Southampton launch "Charles Tyrwhitt has opened its 50th store at Southampton’s Westquay shopping centre, marking a significant milestone in the brand’s expansion. The new store features the menswear retailer‘s range of formal and smart casualwear, including shirts, suits, polos, knitwear, shoes, and accessories, along with its latest autumn/winter collections. It also offers one-on-one styling appointments, aligning with Tyrwhitt’s ethos of helping men “look good and feel good – effortlessly.”" by Georgia Wright at Retail Gazette Charles Tyrwhitt Joe Irons #retailnews #charlestyrwhitt #newstore https://lnkd.in/et99Xdx8

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Reading the Drapers report on the surge of bespoke suit sales is truly enlightening! The growth isn't just great news for bespoke tailoring but also for the entire formal wear industry, including made-to-measure and ready-to-wear options. Reflecting on my recent weekend at a beautiful wedding in Oxfordshire, I observed the popularity of navy suits, single-breasted styles leading the way, and the elegant touch of double-breasted waistcoats stealing the show. It's fascinating to see the fashion choices and personalization adding memorable details to the groom, best men, and ushers' ensembles. The Drapers report highlights some key points from Savile Row: - A remarkable 12% increase in bespoke suit orders, with iconic tailors like Richard Anderson experiencing exceptional growth. - The resurgence of office work and formal events is driving the demand for premium custom-made attire. - Women's bespoke suits are on the rise, reflecting a trend towards tailored luxury. - Savile Row is blending traditional craftsmanship with modern fashion trends, offering a mix of formal and casual styles. - Heavy fabrics like 18oz wool remain a favorite, especially among American clients. - The growing interest in ready-to-wear and made-to-measure options signifies a return to formal dressing, showcasing the industry's adaptability. Exciting times lie ahead on Savile Row, where timeless artistry meets the ever-evolving landscape of modern style! The article also made me reflect on how tailoring and menswear has influenced my life, with a family history rooted in tailoring. Guiding men in their clothing choices and helping them create versatile wardrobes has always been a passion, bridging tradition with contemporary style seamlessly.

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Sales and profit fall back to pre-pandemic levels at independent retailer https://lnkd.in/einp9ei6 #furniture #furnishings #retail #independent #sales

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Can charity shops be good for indie retail?   British designer, founder of fashion brand ‘Red or Dead’, Wayne Hemingway MBE was perhaps an odd choice of speaker at the British Independent Retailers Association Conference. conference last week, introducing as he was his latest venture, Charity Super.Mkt. Charity shops have long been criticised by many indie retailers as the death of the High Street. However, a series of examples and statistics presented by Wayne may have persuaded a cynical audience that Charity Super.Mkt offers a shopping experience that is an "awakening experience" for Gen Z and Gen A consumers. Indeed, such is the success of this new initiative, it has attracted the interest of big brand retailers including Apple. Charity Super.Mkt was founded in response to a rise in second-hand greenwash and to disprove the outdated notion that charity shops ruin high streets. Listening to charities and their desire to broaden their demographic and horizons Hemingway and his partner, Maria Chenoweth, created an umbrella brand to get charity retailers into mainstream spaces and places that they wouldn't normally be able to access, creating a brand that would fit nicely into any prominent location. After two years of market style pop-ups, Charity Super.Mkt moved things up a gear in January 2023 with its first bricks-and-mortar residency at Brent Cross Shopping Centre and the response was overwhelming. Costs for the fit-out of the vacant unit were approximately £40,000 – an amount Wayne and Maria hoped to be able to get back over the planned 4-week residency. Sales on the first night were in excess of £20,000! The store was so popular, the stay was extended by a further two weeks. 80% of the revenues went to the charities. Charity Super.Mkt’s launch article was the 3rd most read article on the BBC and the news spread like wildfire, further Charity Super.Mkt pop-ups have appeared in shopping centres across the UK and the total revenue shared by 50 charities now exceeds £2.75M. At the BIRA conference, Wayne revealed that Apple approached him to locate Charity SuperMkts close to their stores, as it was clear that the initiative was attracting the younger generation and the halo effect was boosting their own footfall and sales. Gen Z and Gen A are seeking variety, vintage, low cost, environmental and sustainable high streets, as well as things to do as well as buy. When questioned, however, Wayne admitted that the mega charity stores were a city / large-scale shopping centre phenomenon and wouldn’t work in smaller towns, but it does raise the question whether independent retailers’ wide spread prejudice against charity shops is a sensible view, especially if they appear to bring the younger generation on to the High Street. To inquire about locating a Charity Super.Mkt in your area visit

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Established Yorkshire furniture maker HSL launches first UK outlet of its new retail brand in Liverpool, creating eight new jobs #retail

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🚀 Retail Winners & Losers: The Changing Landscape Of The UK High Street Retail has been undergoing major shifts, and it's clear there are winners and losers emerging. I shared my insights with Anne Ashworth for the DailyMail.com 🔹 M&S is leading a successful turnaround, balancing design and digital innovation, while attracting both core and younger audiences. 🔹 Primark finally stepped into click & collect – but is it too late to compete with digital-first players like Shein? 🔹 John Lewis has struggled with cost-cutting measures impacting customer experience, raising questions about its ability to recover. 🔹 Next continues to thrive with a seamless online and in-store presence, supported by strong logistics and third-party brand partnerships. 🔹 Shein is continuing to disrupt fast fashion, overshadowing brands like H&M with its affordability and rapid product turnover, but raising sustainability concerns. Who are the big winners? Who’s lagging behind? 👇Sign up for my email list in the comments where I will be sharing more detailed insights. https://lnkd.in/eB4dcpv7

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