Over 1,500 jobs could be rescued at the struggling DIY retailer Homebase, as reports indicate that billionaire Chris Dawson, owner of The Range, is in discussions to acquire about 70 stores across the UK and Ireland. #RetailRestructuring #HRStrategy #EmployeeSupport #JobLosses #EcommerceGrowth #RetailChallenges #WorkforceTransformation #ChangeManagement #EmployeeEngagement #HRLeadership #BusinessRestructuring #PeopleFirst #FutureOfWork #RetailIndustry #HRInsights #CareerTransition #HRConsultancy #WorkplaceWellbeing #CorporateRestructuring #RetailEvolution #EmployeeExperience
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**Homebase bought out of administration securing up to 1,600 jobs** Homebase has been sold to retail group CDS in a rescue deal securing up to 1,600 jobs and 70 stores but leaving the future of its remaining 2,000 workers and 49 shops unclear. The DIY retailer appointed administrators at consultancy Teneo on Wednesday before CDS, which owns The Range homeware outlets, bought the majority of its stores out of administration. Teneo said the remaining 49 UK stores will continue to trade as normal while administrators try to find a buyer. CDS, which is owned by retail magnate Chris Dawson, bought the 40-year-old Homebase brand. Damian McGloughlin, chief executive of Homebase, said the last three years had been “incredibly challenging” for DIY stores, blaming “a decline in consumer confidence and spending” after the pandemic. “Against this backdrop, we have taken many and wide-ranging actions to improve trading performance including restructuring the business and seeking fresh investment. “These efforts have not been successful and today we have made the difficult decision to appoint administrators.” Homebase was bought for £1 by investment firm Hilco Capital in 2018, which introduced a swathe of cost-cutting measures in the subsequent years. But the retail chain struggled as customers cut back on spending amid the cost-of-living crisis, and reported an £84.2 million loss last year. In August, Sainsbury's’s struck a deal to buy 10 Homebase stores and convert them into supermarkets. The jobs still at risk include workers at Homebase’s head office in Milton Keynes, as well as the remaining stores. The rescue deal comes after a hunt for a buyer from Homebase’s previous owners Hilco, which is thought to have lasted for the last two months. Mr Dawson, whose CDS acts as parent company to The Range, also bought parts of high street retailer wilko after it collapsed last year. It is unclear which stores will remain branded as Homebase after the deal, while administrators did not immediately disclose the locations of the 49 outlets which were not included in the deal. The administrators said all employee wages and benefits will be paid for their period of employment, while customer orders will still be fulfilled as far as possible. #homebase #retail #valuethroughinsight Link to article in comments.
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Get out of the office! The only way to truly understand how your business is doing and what your customers are experiencing is to interact with them. The Home Depot #retail #business #genchigenbustu #marketresearch
Home Depot orders corporate staff to take 8-hour retail shifts
fortune.com
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Here are some interesting stories from the world of retail for Saturday, April 13: 👟 Nike CEO John Donahoe blamed remote work for the company’s innovation slowdown and dearth of fresh products. He said it's hard to build disruptive products on Zoom. 🛋️ Conn's HomePlus swung to a profit in the fourth quarter, reporting $43.3 million in net income on Thursday, up from a prior year net loss of $42.8 million. The home goods specialty retailer reported total revenue of $366 million. 😑 Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. That’s striking because disappointing inflation reports have thrown Wall Street into a tailspin. 🥦 When Amazon was working on a new private-label food brand called Wickedly Prime, members of the team pitched management this vision for the brand: to replicate the top 200 items sold at Trader Joe's. 🇯🇵 Muji, the Japanese retailer, is expanding into the world of accommodations. Parent company Ryohin Keikaku has announced a new business called Muji Stay, which will bring together the retailer's existing hotels, homes, and camps. 🧑🏻🍳 Ghost kitchens are disappearing. Delivery-only operations boomed during the pandemic. Now Wendy’s, Kroger’s and mom-and-pop food businesses are rethinking their operations, says The New York Times. 🍔 In-N-Out Burger President Lynsi Snyder has vowed to protect prices at the West Coast's favorite burger chain. She said there won't be drastic price increases in California after the state's new minimum wage law. 💊 The Oregon Health Authority will hold a virtual public hearing on April 24th to assess the impact of the proposed merger between Kroger and Albertsons on Oregonians' access to pharmacy services. 💵 The city of Los Angeles will provide informational resources to 99 Cents Only workers who are losing their jobs as a result of the discounter’s impending store closures, Mayor Karen Bass announced Friday. 👕 DTC brand Knot Standard is merging with fashion retailer Billy Reid, the companies announced Thursday via press release. As part of the deal, Billy Reid will acquire Knot Standard’s DTC business, including eight physical stores. 💷 Next CEO Lord Wolfson saw his pay increase to £4.5m last year, with a base salary of £908,000, a bonus of £1.4m, share awards of £2m, and £172,000 in pension and benefits. 🦅 Giant Eagle, Inc. Eagle has cut the ribbon on its new headquarters building. It has officially moved into a new office building in Cranberry Woods Business Park, PA - approximately 20 miles north of Pittsburgh. 🏭 The average warehouse vacancy rate across the U.S. climbed to 5.8% in the first quarter from 5.2% the previous period, according to Cushman & Wakefield. Average leasing rates across the U.S. have flattened out. #retail #retailnews #economy #DailyRetailNews
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10 years and 10 days ago I got the keys to the perfect shop for Mademoiselle Macaron. Five years later, closing it was one of my best business decisions. But every so often I’ll feel like not having bricks and mortar is a failure. Why? - When people ask what I do, they immediately ask if I have a shop and when I explain that I did have one but now operate exclusively online in a mix of D2C and B2B, I can see them trying to work out if that means the business isn’t doing well. We seem to place high value on businesses open to the public as a great badge of honour. But sometimes it holds businesses back? - Headlines are so often negative when it comes to businesses closing bricks and mortar retail outlets. And yes, increased rent is in fact what prompted the decision to close, but overnight we became instantly more profitable when we ran the business from the industrial unit we were already producing macarons in. It is because of our success at being able to grow without a shop that contributed towards the decision to close. - Retail and e-commerce are two very, very different businesses. I ran Mademoiselle Macaron Limited and Mademoiselle Macaron Retail Limited side by side almost as one. But it was exhausting and neither was truly flourishing as a result. - Retail staff availability. I had spent every Saturday working for years. Quite simply I wanted a life that let me live a little. You can’t make money if you don’t turn up and open the shop doors. Yet overnight our website still processes orders. Towards the end of our time in 2018, I struggled to recruit and retain retail staff. Something had shifted. The emergence of Gen Z perhaps? Or the beginnings of the effects of Brexit? I miss talking to customers, I felt like I’d grown up in that shop. I was 24 when I opened it and the shop witnessed many celebrations, tears and laughter. And now? Well it might just be that we try to meet in the middle and open a small shop front from our industrial unit. Tomorrow I’ll see the floor plan of a new space which would incorporate office, kitchen demo and a small retail space. Then I’ll need to decide, is it time to open back up again? Keen to get thoughts on this. Have any other businesses gone through this? Watch this space.
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Coverage in retail stores was unexpected. I went shopping recently before an upcoming trip to about 10 stores and here is what I noticed. The majority of stores were understaffed. I had several items in my hand, not once greeted, had to find my own fitting room and ask the person at the cashwrap if it was okay for me to go in. In one store, both fitting rooms were full of product and plenty of people standing around to have these cleared out prior. One store had just one person behind the cash wrap that couldn't leave to help other clients, leaving opportunity for shrink, poor conversion and overall bad experience. I always prefer shopping in store vs online but might not go back to these stores. There were stores that had coverage, greeted on time, but didn't try to suggestive sell after I had spoken about an upcoming trip and had items I wanted to try..they just gave me different sizes in the items I had picked out. The energy was low, and no one seemed excited to be there. Now, this could be an off day, and several stores I've walked into in the past have been exceptional! I sympathise, because I've been there myself and had issues with coverage due to turn over, call outs, and availability gaps with my schedules. When this happens, you're not always in the best of moods, and neither is your team. The clients can see it as well. I wondered if these stores had the right coverage and assistance they needed from Reflex how things would be different. I don't want to shop online and I love going to stores, but I can see how one experience/impression can change a clients mind. A lot of retailers try to reduce payroll as their way of controlling costs, but it's not working. It's causing more shrink, turnover, poor conversion, and damaging the brand experience. Adding the correct coverage and having access to associates within hours will create a better experience for the store and drive better results/sales allowing you to add more payroll vs. reducing it. This also isn't just my opinion, I've spoken to hundreds of store leaders who all wish they had Reflex to leverage in their stores. It's 2024, retailers should be able to incorporate a flexible labor model like Reflex to drive better results, have the correct coverage in stores, and increase the in store experience for all. #coverage #shortstaffed #retail #retailleaders #retailmanagers #management #payroll #retailing
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The #retail and companies & business's total collapse as Macy's is closing yet another 150 stores. Decades of wasting a fortune on useless incompetent toxic clique lazy crap bad-quality poor-performers slow coasters talkers prima-donna BSers narcissists & enablers & avoiders caused labor costs to be over 20x higher than should be. Decades of operating non-labor costs to be over 20x higher than should be. Decades of corporate greed with sky-high margins for massive obscene #Executives & #CEOs & #Board pay plus big greedy #shareholder & #investor payouts. This is soon #RIP to Macy's, this after Sears + Kmart nearly gone and companies Payless Shoes & CompUSA & Conn's HomePlus Badcock & General Foods & Richardson Vicks etc gone. So many other trying to survive bankruptcy. And I know the reasons why. In many cases though personal information dirt on these pathetic companies & business's & gov-agencies. No company or corporation on many companies or business will survive without major help at the top that I am willing to give. Gov-agencies only surviving though endless unsustainable bailouts. They ready for my help too? And giving unfair corporate advantages to Woke-DEI people in terms of hiring promotion non-firing non-layoff and in #business with the woke-SBA + States/cities WOB MOB LGBTQ-OB Disabled-OB Veteran-OB Woke-DEI programs agendas is destroying the USA. I offer high-paid solutions. https://lnkd.in/e65jXqCh LinkedIn News
National mall-based retail chain closing 150 more stores
thestreet.com
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View this post to read all top #news with my thoughts starting with the #retail apocalypse which I think will put most retail companies and their suppliers out of #business permanently https://lnkd.in/ei7Pw26V Reasons: - Cash-strapped shoppers that running out of savings plus max'ed out. - Non-labor costs over 10x higher than should made worse by wasting a fortune going to a CRM like Salesforce or a ERP like SAP. - Labor costs over 20x higher than should be due to lazy crap toxic clique Boss's & workers & recruiters that do No/little work. - Woke backlashs and boycotts. Big chains closing down in ever increasing numbers https://lnkd.in/euZAEsky Toxic Boss's using RTO as stealth layoffs https://lnkd.in/epaTJ_wN Asian #grocery stores not to be called "Ethnic" as woke gets worse https://lnkd.in/eb6TQMY8 80% of companies/orgs are Not ready for CISA rules https://lnkd.in/ew6jPE_j Is sad that companies cannot find great people doing great work or elite people now having to resort to mediocre people https://lnkd.in/eMb5zzGT Facebook trying to get US Supreme Court to dump #shareholder lawsuit https://lnkd.in/ezaPqwWq A #restaurant #bars stores shutdown https://lnkd.in/eQ8fZdJC Pfizer on acquisition hold https://lnkd.in/eMpJAqGU Flights getting more turbulent https://lnkd.in/e7Sg6z7z More #economic trouble https://lnkd.in/epVXpjwj Activist #investor wants big changes at Southwest Airlines https://lnkd.in/e-peevKf As #climate change getting worse https://lnkd.in/eFeQtZ7Q that now hurting the wine industry https://lnkd.in/eubcJQpS Restaurants coming back https://lnkd.in/eq_FM6kx Chocolate bars warning https://lnkd.in/e-actFhF The ROT at companies & business's & gov-agencies starts at the top so contact me for real change asap before it is too late. I have near 40 years experience as a best-of-the-best IBM Synon2e RPG techie and #executive #management plus business #advisor consultant. I am available for #CEO or #CIO position. I am available also for #Boardmember positions. I also give high-paid #Csuite & #Board & #Shareholder & #Investor etc #advice consultation. #cfo #finance #economy
Walmart closures a warning sign of retail apocalypse with other chains at risk
the-sun.com
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📢 **Stop & Shop Shutters 32 Low-Performing Stores Nationwide** 📢 Stop & Shop is making headlines by closing 32 underperforming stores across the nation to reallocate resources and boost operational efficiency. This move stems from various factors such as poor financial performance, market saturation, changing consumer preferences, logistical challenges, and a broader strategic realignment. While these closures pose challenges for employees and customers—like job losses and inconvenient shopping alternatives—they also present opportunities for Stop & Shop to invest in more profitable locations and technological innovations. Employees affected by these closures will receive support, including job placement assistance and severance packages. Customers may need to seek new grocery shopping options, and local communities might experience economic impacts. On the bright side, Stop & Shop is set to focus on technological advancements, store renovations, community engagement, expanded product offerings, and enhanced employee training. --- **Next Steps:** Looking to maximize your tax savings? Reach out to Together CFO or set up a call by clicking the link below: **[Set up a call](https://lnkd.in/gAa4dwUG
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I'm sure BBQ & garden furniture sales have spiked this week as the weather warms up [just a hunch!]. In my edit of the weeks retail headlines it's generally a mix of growth stories and sadly employee cuts. Here's what caught my eye: Waitrose & Partners accused of reducing redundancy pay for warehouse staff The Fragrance Shop sales surge as expansion plans pay off Asda owner adds £1.5bn of liabilities to fund EG Group petrol station deal Carpetright to axe 25% of head office staff as it cuts costs Frasers Group overhauls company - wide digital infrastructure Zalando improves profitability due to lower fulfilment costs Glossier, Inc. partners with Space NK to expand UK footprint Morrisons acquires 38 convenience stores in the Channel Islands Amazon to open £500m robot-powered East Midlands warehouse boohoo losses swell to £160m as it battles inflation and weakened demand The Body Shop could lose B Corp status following complaints Marks and Spencer makes biggest single store revamp investment at Fosse Park Frasers Group closes in on Ted Baker deal Selfridges cuts jobs and blames loss of tax-free shopping Waitrose boss claims 'era of cheap food is over' Nike signs deal for landmark 1.3m sq ft UK logistics campus Very launches fashion platform with new summer campaign WHSmith reveals the new Toys R Us locations openings this summer 🤖 The Range upgrades click-and-collect service to offer 1 hour pick-up John Lewis Partnership axed 3,800 jobs over the past year Currys plc teams up with Accenture and Microsoft to drive generative AI adoption Lidl GB boosts staff pay for third time in 12 months Greggs hit 2,500 store milestone as its growth plan gains momentum IKEA Oxford Street opening delayed again until Spring 2025 My story of the week: WHSmith expanding its partnership with Toys R Us can only be a good thing. Helping the regeneration of some High Streets, City centres and Retail Parks. Just proves that physical retail is still very much alive. #retail #customerexpereince #marketing #brand #shoppingcentres #economy
WHSmith reveals the new Toys R Us locations opening this summer
https://www.retailgazette.co.uk
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