Few will have been shocked by the news from the British Retail Consortium (BRC) that the number of retail jobs has waned in recent months.
Since the turn of the year major retail employers including Tesco, John Lewis, Boots and Sainsbury’s have all made sizeable redundancies.
In the three months to June 30, full-time equivalent employment fell 3.3% year on year, according to the BRC’s retail employment monitor.
Times are tough for retailers. Costs are on the rise with the introduction of the national living wage and apprenticeship levy. This, combined with the ongoing burden of business rates, is taking its toll on balance sheets.
The BRC expects this trend to continue as “the tide of change continues to sweep through the industry”.
Going forward, the BRC believes that the industry will offer “fewer but more productive jobs”. Many dedicated staff face uncertain times as the future of the retail workforce unfolds.
Elsewhere today, Dixons Carphone launched new services brand Team Knowhow, Sports Direct snapped up another 15% of French Connection and Arcadia hired Mothercare director James Graham to lead its Outfit business.
Quote of the day
“Whatever the challenge, Team Knowhow is aiming to be the UK’s number one technology support service, always on hand to connect it, fix it, protect it or improve it”
Feilim Mackle, chief executive, services at Dixons Carphone
Today in numbers
27%
The stake Sports Direct now has in French Connection
4.2%
Like-for-like rise posted by Bonmarché in its quarter to July 1
Tomorrow’s agenda
The respected GfK Consumer Confidence Index reveals how shoppers are feeling and we take a first look at Curry’s PC World’s first shop-in-shop in Tesco.
Gemma Goldfingle, features editor
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