A key and longstanding member of THG board has stepped down with immediate effect. Private equity tycoon Dominic Murphy has left the beauty-to-tech platform where he’s been a non-executive director since 2014.
UK health & beauty retail giant Boots is to freeze prices on more than 1,500 products as consumers continue to face higher costs. The retailer is to lock-in prices on popular essential own-label items.
Departed M&S chief Steve Rowe is being handsomely rewarded for spearheading the UK retail giant’s turnaround. The former boss more than doubled his pay to £2.63 million last year, including his first bonus since 2017.
The Queen’s Jubilee weekend celebrations were widely regarded as a major success, but how did retail footfall fare over the period? It surged 17.7% across all UK retail destinations on the key opening day, Thursday.
Multiple UK consumer spending and retail spending reports that were released on Tuesday showed one general trend of consumers reining-in their purchases. But at least fashion is staying buoyant for now.
Beware: a major rise in corporate distress and bankruptcies, especially in retail, is looming, experts say. Rising costs, supply chain problems and the end of government support could trigger failures this autumn.
Footfall was strong in the seven days to 5 June as many Britons celebrated the Queen's Platinum Jubilee and the country hosted a large number of visitors from abroad for the first time since before the pandemic.