Friday 8th August
In today’s Beyond the Basket:
🛍️ River Island rescue plan approved to avoid insolvency
💼 Peloton to cut 6% of global workforce in $100M cost-saving plan
📦 Bol remains top online retailer in Netherlands as Chinese platforms surge
🏬 Zara unveils high-tech flagship at Manchester Trafford Centre
🤖 Tariff-hit brands cut customer service staff, lean into AI chatbots
👓 Warby Parker phases out home try-on as store count, virtual tools grow
Let’s get into it 👇
🛍️ River Island rescue plan approved to avoid insolvency LINK
River Island has secured High Court approval for a restructuring plan involving 33 UK store closures, rent cuts at 71 more, and payment suspensions of up to three years from some landlords.
The retailer faces a projected £43M shortfall and is seeking £54M in new funding to stabilise operations amid falling footfall, supply chain woes, and rising costs.
Without court approval, River Island warned it would likely enter administration; the plan aims to cut costs, secure investment, and reposition the brand for long-term viability.
💼 Peloton to cut 6% of global workforce in $100M cost-saving plan LINK
Peloton will lay off 6% of its staff as part of a broader restructuring aimed at cutting $100M in operating costs by fiscal 2026, including relocating roles and reducing indirect spend.
The company cited high operating expenses as a barrier to investing in growth areas like strength training and wellness, which CEO Peter Stern sees as core to its future.
Peloton posted a $21.6M profit in Q4, reversing a $30.5M loss YoY, while operating expenses dropped 20% and net debt fell 43% over fiscal 2025.
📦 Bol remains top online retailer in Netherlands as Chinese platforms surge LINK
Fast-rising players like AliExpress, Shein, Temu, and Vinted are all showing “strong growth,” each exceeding €1B in Dutch sales last year.
Of the top 10, foreign platforms now outpace domestic ones in growth, reflecting shifting consumer preferences toward global ecommerce brands.
🏬 Zara unveils high-tech flagship at Manchester Trafford Centre LINK
Zara has opened a 32,291 sq ft concept store, its largest in the UK, featuring its newest global flagship design integrating tech, sustainability, and boutique-style fashion zones.
The store includes an automated garment sorter, assisted checkout and return stations, real-time inventory tracking, and in-store support via the Zara app.
Sustainability features include packaging recycling, clothing donation bins, and an in-store repair booking service, supporting the brand’s growing circularity efforts.