Up-to-date coverage of the latest events in UK retail.
12.11pm Topshop boss faces £3m legal bill
Sir Philip Green reportedly faces a £3m legal bill after a High Court judged agreed to drop his injunction against The Telegraph.
Green ended his legal action against the newspaper on January 28 in order to prevent “causing further stress” to Arcadia employees. He had been seeking damages from The Telegraph after it published a front-page story naming him as the businessman who had allegedly bullied and harassed staff.
Green has today been granted permission to discontinue legal proceedings. According to The Telegraph, Green faces a £3m legal bill, some of which includes the newspaper’s own costs.
The Telegraph said it now intends to publish details of the claims made against him.
7.28am Ikea to sell refurbished furniture
Ikea is selling used furniture in Scotland as part of its drive to become more environmentally friendly.
The Swedish furniture giant has offered customers in Edinburgh the option of exchanging used Ikea furniture for a store voucher for more than a year. Any items are refurbished and sold in a designated area of the store.
The pilot scheme is being extended to Glasgow in the summer and could eventually be rolled out across the UK.
Ikea is also launching a textile recycling scheme across the UK. It told The Guardian the two initiatives were part of its plan to create a circular business model, in which materials and products were reused or recycled.
7.16am MySale warns of first half loss as revenues slump
MySale has warned it expects to post a first half loss amid “challenging” trading conditions.
The discount fashion website said in a pre-close trading update that it was forecasting an underlying EBITDA loss of A$5m (£2.72m) in the six months to December 31, 2018. It registered a A$5.5m (£3m) profit during the same period the previous year.
MySale’s group revenues tumbled 17% to A$126m (£68.9m) during the period. Gross margins were also dented, slipping from 30.2% a year ago to 23.4%.
The Australian business blamed the slump on “market disruption” sparked by changes to goods and service tax (GST) regulations in its domestic market.
7.04am Ocado mulls new warehouse after Andover fire
Ocado is considering opening a new warehouse after its customer fulfilment centre in Andover was devastated by a blaze.
The online grocer and tech specialist is understood to be mulling a new site as one of a number of options following the fire, which broke out on Tuesday.
A source close to the business told Retail Week Ocado was “considering all the options – whether that’s permanent relocation, redeveloping the site or looking for something new”.
It is not yet known whether Ocado’s Andover warehouse has been completely destroyed by the blaze, or whether the business will eventually be able to resume operations at the site.