Author: Scott Dylan

Poundland, owned by Pepco, plans a strategic overhaul of its head office.The company is placing around 60 head office roles under consultation to optimise costs.Departments affected include finance, supply chain, IT, and property teams.Poundland is committed to maintaining efficient operations while providing value for customers.Pepco Group has reported a 13.8% increase in group revenue, reinforcing their financial strategy.Poundland, a discount retail chain owned by Pepco, is initiating a strategic restructuring process at its head office located in Walsall. The restructuring is part of a broader initiative to manage costs more effectively across the business. As a preliminary step, the company…

Under Armour faces declining revenues as restructuring plans are implemented, impacting several key areas.The company has reported an operating loss of $300 million (£235 million) in its first fiscal quarter of 2025.North American and direct-to-consumer sales decreased significantly, contributing to the overall decline.Revenue dropped by 10% year on year, affecting various segments including apparel, footwear, and accessories.Restructuring efforts, including a comprehensive fiscal review, aim to revitalise the brand and improve efficiency.Under Armour, a leading US sportswear brand, experienced a substantial operating loss of $300 million (£235 million) in the first quarter of fiscal 2025, ending on 30 June 2024. This…

The Drapers Independents Awards 2024 has announced its finalists, recognising top independent fashion retailers.These awards celebrate innovative UK and Irish independent fashion retailers excelling under challenging conditions.Seventeen categories are featured, including menswear, womenswear, and kidswear, with new categories like Best Independent Department Store.The Independent Retail Star of the Year honours exceptional talent regardless of age or experience.The awards will take place on 19 September at Grosvenor House, London, with an array of industry leaders attending.The Drapers Independents Awards 2024 has unveiled its finalists, continuing its tradition of honouring the exceptional talent and innovation found within independent fashion retailing in the…

The August edition of Drapers delivers key insights from the fashion retail industry.Mytheresa has achieved significant sales growth amidst challenging market conditions.Retail experts stress the importance of effective supply chain management.Innovative store design is highlighted as crucial for retail success in 2024.Spring/Summer 2025 buying trends showcase versatile womenswear and footwear.In the latest issue of Drapers, noteworthy developments within the fashion retail industry are explored, offering readers valuable insights. A primary focus is the impressive sales growth of Mytheresa, which continues to thrive despite challenging trading conditions faced by many luxury retailers. Michael Kliger, CEO of Mytheresa, attributes this success to…

George at Asda has reported unprecedented success in its back-to-school sales campaign, nearly doubling last year’s figures.Sales in the back-to-school segment have surged by 88% in the opening two weeks, compared to the same period last year.A strategic early bird promotion and significant investment in customer service contributed to this sales boost.Despite a 3.9% drop in quarterly clothing sales, George has seen a rise in online revenue.Overall, Asda’s revenue showed a modest increase, though like-for-like sales experienced a slight decline.George at Asda has achieved a remarkable start to its back-to-school campaign, with sales nearly doubling those of the corresponding period…

The recent leadership change in Bangladesh has sparked interest from global and local observers.Nobel laureate Muhammad Yunus assumes interim leadership, succeeding Sheikh Hasina amidst significant unease.Business sentiment remains positive with a focus on sustaining the garment industry’s momentum.The manufacturing sector in Bangladesh faces challenges but is striving to maintain stability.UK retailers are advised to prepare for potential delays in imports from Bangladesh.In Bangladesh, a significant political shift has occurred, capturing the attention of both local and international stakeholders. The renowned economist and Nobel Peace Prize laureate of 2006, Muhammad Yunus, has taken the position of interim Prime Minister. His appointment…

The North East region witnesses inspiring community initiatives and notable business triumphs this week.Highlights include a rejuvenating grant for Briardale House, prestigious awards for industry leaders, and groundbreaking nominations in the accounting sector.The Briardale House in Blyth has been the beneficiary of a substantial financial boost, courtesy of a four-figure grant from The Banks Group. This aid will see the transformation of the community centre’s bathroom facilities, which have not been updated for over two decades. The Centre, a hub for around 300 weekly visitors, offers various services including a Meals On Wheels programme.David Foster, CEO of Anglo Scottish Asset…

Hobson & Porter has commenced work on the £12 million Skegness Learning Campus, part of a broader economic strategy.This pivotal project, set within the Skegness Gateway initiative, promises to deliver enhanced educational opportunities and community development.Project Commencement and SignificanceHull construction firm, Hobson & Porter, has embarked on constructing a significant educational facility—the £12 million Skegness Learning Campus. This project forms part of the ambitiously government-backed £14 million Connected Coast Town Deal. This strategic initiative is poised to enrich the local educational landscape with diverse vocational training opportunities.Skegness Learning Campus is set to become a cornerstone of the Skegness Gateway initiative.…

Abercrombie & Fitch has launched its inaugural store in East London, located in Spitalfields’ Horner Square, marking an expansion of its UK presence.The new outlet features a comprehensive selection of women’s and men’s collections in an inviting environment enriched with contemporary art.Innovative omnichannel services, including click-and-collect, are available to enhance customer convenience.Significant growth has been reported by Abercrombie & Fitch, with a notable rise in both operating income and net sales.The company has revised its full-year sales forecast upwards, reflecting its optimistic market outlook.Abercrombie & Fitch has opened its first store in East London at Spitalfields’ Horner Square. This launch…

Fitness Worx has secured a significant financial boost to support its expansion in the West Midlands.The acquisition of £320,000 from the Midlands Engine Investment Fund marks a new chapter in its growth journey, with plans to open a new gym in Coventry. This initiative reflects the company’s commitment to enhancing fitness accessibility and community engagement across the region.Introduction of New Facility in CoventryFitness Worx is on the verge of launching a new 12,000 sq ft gym at Cannon Park Shopping Centre, Coventry. This upcoming facility, representing a significant component of its expansion strategy, is set to commence operations next month.…