×
472
Fashion Jobs
MICHAEL KORS
Account Executive
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Flagship General Manager – Luxury Fashion – Regent st – £80k-£90k + Bonus
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Online Customer Service Manager
Permanent · HUNGERFORD
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Kings Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Notting Hill
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Showroom Sales Representative
Permanent · LONDON
TOO FACED
Business Manager - John Lewis Brent Cross
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Ltrtw & Mtm Client Service Manager – Luxury Ladieswear – Knightsbridge – £30k-£40k + Comm
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Haute Couture Client Service Manager – Luxury Ladieswear – Mayfair– £40k-£60k + Comm
Permanent · LONDON
MAJE
Sales Supervisor, Full-Time - Harrods, London
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Canary Wharf
Permanent · LONDON
HEAD OFFICE
Brand Manager
Permanent · LONDON
BETTY BARCLAY GROUP GMBH & CO KG
Retail Operations Manager
Permanent · LONDON
RETAIL PERM
Beauty Salon Manager
Permanent · LONDON
TOO FACED
Business Manager - Liverpool - New Mersey Retail pk (Speke), UK
Permanent ·
TOO FACED
Business Manager - Lisburn Sprucefield sc, UK
Permanent ·
TOO FACED
Business Manager - Stockton on Tees Teeside, UK
Permanent ·
TOO FACED
Business Manager Tamworth Ventura RP, UK
Permanent ·
TOO FACED
Business Manager - Cork Half Moon st., UK
Permanent ·
TOO FACED
Business Manager - Chester City Centre, UK
Permanent ·

Sports Direct boss calls for turnover-linked rent deals

Published
today Nov 18, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Retail billionaire Mike Ashley, the founder of Sports Direct, has demanded new rent deals are tied to sales across his high street store empire that now includes House of Fraser and Jack Wills as well as Sports Direct itself and the Flannels chains. 


Sports Direct



Ashley has asked landlords to agree to ‘turnover rents', where up to 15% of the rent due is linked directly to physical store sales, the Sunday Times reported. 

The scheme, which allows retailers to share their risk and reward with landlords, are common in the US and are said to be standard practice for international giants such as Zara owner Inditex and H&M.

Some parts of Ashley's retail portfolio have been struggling, with department store group House of Fraser having major problems. The company now operates around 700 UK retail sites.

The shift to online shopping and rising costs have prompted retailers such as Select, Mothercare, New Look, Debenhams and Sir Philip Green's Arcadia Group to use company voluntary arrangements (CVAs) to close stores and slash rents. This has angered many of the chains that aren’t at breaking point, which are now seeking better deals. Next is known to have asked for better rent deals.

In a deeply troubled UK retail market, hit by weak consumer sentiment and reduced footfall, turnover rents could help tenants by transferring some of the risk of future falls in sales to landlords, who have enjoyed the security of long-term leases with rents that could be revised only upwards.

Copyright © 2019 FashionNetwork.com All rights reserved.