Retail news

• John Lewis: too soon to mourn its decline and fall

  13-09-2018 20:50
  Profits crash but the retailer’s sales and customer numbers are growing
  
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• John Lewis is far from in a flap, despite these lousy figures | Nils Pratley

  13-09-2018 20:41
  Back in the 1990s the partnership was in a mess. Today’s woes look tame by comparisonA crisis at the John Lewis Partnership? A plunge of 99% in first-half profits to just £1.2m looks terrible, but it’s not like the late 1990s. Back then, there was a proper mess. John Lewis was seen as inward-looking, bureaucratic and unable to keep pace with modern retailing. Survival seemed at stake. At head office they even wondered whether to abandon employee ownership and become a regular p
  
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• Bezos pledges $2bn for homelessness and preschools

  13-09-2018 20:13
  Amazon founder began a hunt for philanthropic causes last year
  
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• House of Fraser customers furious as Sports Direct fails to give refunds

  13-09-2018 19:36
  New owner reneges on store’s vow to return payments for undelivered goods
  House of Fraser customers who were promised refunds for undelivered goods in the wake of the department store’s collapse are to lose their money after its new owner, Sports Direct, reneged on the offer.In August, six days after the Sports Direct founder, Mike Ashley, controversially paid administrators £90m for the department store group, House of Fraser told online customers that it was cancelling and re
  
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• Dominic Raab and business leaders clash after minister's Brexit comments

  13-09-2018 19:12
  Brexit secretary tells Radio 4 firms are wrong to blame leaving Europe for their woesThe Brexit secretary, Dominic Raab, has clashed with senior business leaders after he attacked struggling companies for blaming Brexit on their woes.Business organisations hit back after Raab told BBC Radio 4’s Today programme that Brexit was becoming a scapegoat for underperforming firms.Growth up, employment up - firms remarkably resilient amid great uncertainty. Important politicians on all sides recogn
  
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• Morrisons taps into meat-free tastes with vegan ready meals

  13-09-2018 19:01
  Supermarket launches new range on the back of strongest sales growth in nearly a decadeMorrisons is to launch its own vegan ready meals late next month as it tries to tap into the growing trend for shunning meat and animal products.The UK’s fourth-biggest supermarket group, previously known for its pies and fresh meat slaughtered at its abattoirs, said it would be stocking bean “non carne” – an alternative to chilli con carne – “veggies in blankets” and
  
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• John Lewis is down but not (blown) out

  13-09-2018 16:27
  Profits crash but the retailer’s sales and customer numbers are growing
  
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• Dominic Raab: companies wrong to blame Brexit for woes

  13-09-2018 16:23
  Brexit secretary tells firms to ‘take responsibility for their own situation’The UK’s Brexit secretary Dominic Raab has launched a stinging attack on struggling businesses that are blaming Brexit for their woes.Raab told BBC Radio 4’s Today programme: “It’s probably rather easy at this moment in time for any business which isn’t doing rather well to point to Brexit. Continue reading...
  
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• Wm Morrison: alliteration for the nation

  13-09-2018 15:12
  Too often in the world of UK supermarkets, sales are sanity and cash flow is profanity
  
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• Morrisons sees highest quarterly sales growth in nearly a decade

  13-09-2018 12:12
  Long heatwave, wonky veg and the World Cup boosted sales for the supermarket chainSupermarket chain Morrisons has enjoyed its highest quarterly sales growth in nearly a decade, boosted by the popularity of local foods, the long heatwave and the World Cup.The UK’s fourth-biggest supermarket group said like-for-like sales – those at stores open for at least a year – rose 6.3% in the three months to 5 August, its second quarter, marking a nine-year high. The figure includes wholes
  
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• Morrisons enjoys highest quarterly sales growth in nearly a decade

  13-09-2018 12:12
  Long heatwave, wonky veg and World Cup boost sales for supermarket chainSupermarket chain Morrisons has enjoyed its highest quarterly sales growth in nearly a decade, boosted by the popularity of local foods, the long heatwave and the World Cup.The UK’s fourth-biggest supermarket group said like-for-like sales – those at stores open for at least a year – rose 6.3% in the three months to 5 August, its second quarter, marking a nine-year high. The figure includes wholesale and re
  
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• Five reasons why John Lewis profits have dived

  13-09-2018 11:50
  A weaker pound, move to online shopping and heavy retail discounting have all hurt the venerable chainThe John Lewis Partnership, which owns a string of department stores and the Waitrose supermarket chain, has suffered a near 99% plunge in first-half profits to £1.2m. So what has gone wrong at the high street stalwart?Maplin, Toys R Us and Jacques Vert have all collapsed in recent months, but a raft of retailers and restaurant groups are facing financial problems and are trying to close s
  
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• John Lewis profits dive by 99% as Brexit row erupts

  13-09-2018 11:18
  Retail results provoke political row as Dominic Raab criticises chain for apparently blaming BrexitThe John Lewis Partnership blamed heavy discounting by rivals and the cost of new stores and IT for a near 99% plunge in first-half profits.The results prompted the UK’s Brexit secretary, Dominic Raab, to criticise businesses for blaming poor performance on Brexit, after John Lewis said uncertainty about the outcome of EU talks was partly to blame for the expectation that profits would be &ld
  
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• Morrisons posts surge in sales

  13-09-2018 09:43 via theretailbulletin.com
  The Morrisons supermarket chain has reported a surge in sales in the first half of its financial year with revenue increasing by 4.5% to £8.80 billion.
  
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• Sports Direct appoints new chairman

  13-09-2018 09:42 via theretailbulletin.com
  Sports Direct has announced a number of changes to its board including the appointment of a new chairman.
  
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• John Lewis Partnership reports slump in profits amid 'challenging times'

  13-09-2018 09:42 via theretailbulletin.com
  The John Lewis Partnership has posted a slump in profits after struggling against “challenging times”.
  
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• N Brown starts search for new chief executive

  13-09-2018 09:37 via theretailbulletin.com
  N Brown is commencing a search for a new chief executive following the news that current incumbent Angela Spindler is stepping down at the end of this month.
  
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• John Lewis profits dive by 99%

  13-09-2018 09:03
  Department store chain and owner of Waitrose blames retail discounting and cost of new storesThe John Lewis Partnership blamed heavy discounting by rivals and the cost of new stores and IT for a near 99% plunge in first-half profits.The company, which owns a string of department stores and the Waitrose supermarket chain, made pre-tax profits before one-off items of £1.2m in the six months to 28 July, down from £83m in the same period a year earlier. It said it expects full-year profi
  
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• John Lewis profits collapse 99% in first half

  13-09-2018 08:28
  Margins come under pressure from the fiercest discounting in market in a decade
  
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• Crunch time for Amazon and Flipkart in India

  13-09-2018 05:00
  Clamp down on aggressive discounting and bulk-buying to test groups’ strategies
  
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