Rolling coverage of the latest economic and financial news
- Job losses likely as The Body Shop lines up administrators
- UK workers can expect smaller pay rises this year, says HR body
The Body Shop has been hit by strong competition, and a lack of innovation, says Diane Wehrle, CEO of Rendle Intelligence and Insights:
“News of The Body Shop calling in administrators is a serious blow to UK high streets and retail destinations who will be nervous of how the 200 store portfolio could be rescued to avoid closures and job losses in local communities.
Against a backdrop of the strong performance of the health and beauty sector over Q4 2023, it undoubtedly reflects a lack of innovation and far stronger competition than ever before with many health and beauty brands moving into the natural and socially conscious space which was once owned by Body Shop.
The fact is it’s very expensive to close markets, because of lease obligations and redundency costs, especially in countries like Germany and France.
There are people speculating that the potential administation might be a means of removing some of the obligations in closing less profitable markets.
Continue reading…Rolling coverage of the latest economic and financial newsJob losses likely as The Body Shop lines up administratorsUK workers can expect smaller pay rises this year, says HR bodyThe Body Shop has been hit by strong competition, and a lack of innovation, says Diane Wehrle, CEO of Rendle Intelligence and Insights:“News of The Body Shop calling in administrators is a serious blow to UK high streets and retail destinations who will be nervous of how the 200 store portfolio could be rescued to avoid closures and job losses in local communities.Against a backdrop of the strong performance of the health and beauty sector over Q4 2023, it undoubtedly reflects a lack of innovation and far stronger competition than ever before with many health and beauty brands moving into the natural and socially conscious space which was once owned by Body Shop.The fact is it’s very expensive to close markets, because of lease obligations and redundency costs, especially in countries like Germany and France.There are people speculating that the potential administation might be a means of removing some of the obligations in closing less profitable markets. Continue reading…
