Retail news

• Asos’s lower margins are a look we’ve seen before

  17-12-2018 20:37 via ft.com
  Shareholders can perhaps remember a rather similar trend from 2014
  
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• Asos: the seesaw history of a global online fashion giant

  17-12-2018 20:14
  From fires and explosions to outvaluing M&S, the firm has had plenty of ups and downsAsos launched in 2000 with the name As Seen on Screen, selling a plethora of goods and fashion sported by celebrities in films and on TV.Founded in London by Nick Robertson, the great-grandson of the eponymous founder of the suit retailer Austin Reed, and Quentin Griffiths, its first products ranged from a pestle and mortar used by Jamie Oliver to a wallet that appeared in Pulp Fiction. The focus on clothing
  
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• Asos reels as investors flee e-commerce crash

  17-12-2018 19:45 via ft.com
  Fast fashion retailer’s profit warning casts doubt on marginrecovery
  
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• Asos blames ‘bump’ as investors flee e-commerce crash

  17-12-2018 19:45 via ft.com
  The fast fashion retailer’s profit warning has cast doubt that margins will recover
  
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• ‘I’d love to scream at them’: how showroomers became the No 1 threat to bookshops

  17-12-2018 18:57
  Customers who visit stores only to research their online purchases are the biggest threat to the industry – and booksellers are taking a standOf all the insults that booksellers stomach, the most awful is the newest. Gone are the days when it was someone shoving a book down their pants or defecating in the travel aisle that made your afternoon that little bit bleaker. Now it is “showrooming”: when customers go to physical shops only to research purchases they will make online.
  
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• Johnson & Johnson shares slip after talc asbestos claims

  17-12-2018 18:46
  Shares fell a further 2% following an investigation alleging the company knew cancer-causing asbestos lurked in its Baby PowderShares of health products giant Johnson & Johnson slipped a further 2% on Monday, extending steep losses suffered on Friday following an investigation by the Reuters news agency alleging that the company knew for decades that cancer-causing asbestos lurked in its bestselling Baby Powder talc. Related: Is it safe to use talcum powder?Continue reading...
  
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• Prada to set up diversity council after racism accusations

  17-12-2018 18:41
  Fashion label expresses ‘deep regret’ over monkey-like figurines it put in store windowThe Italian fashion label Prada has said it will set up an advisory council on diversity issues after being forced to pull monkey-like keychain figurines from its shelves over accusations of racism.The so-called Pradamalia creatures – featured prominently in the window display of its SoHo store in New York – sparked outrage for their exaggerated red lips that brought blackface caricatur
  
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• Asos shares plunge by 40% as profit warning rocks retail sector - as it happened

  17-12-2018 17:59
  Rolling coverage of the latest economic and financial news, as online fashion group suffers a “significant deterioration” in pre-Christmas tradingLatest: Asos shares plunge Asos holds conference call after profits warningIntroduction: Asos profits warning!
  Full story: Asos has cut sales and profit forecastsTrading weaker in UK, France and Germany 4.59pm GMT Finally, after a very rocky day, ASOS shares have closed at £26.14, a slump of 37.5%.That wipes £1.3bn off its value
  
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• It's long past time to give auditors teeth | Nils Pratley

  17-12-2018 17:15
  Action to rein in the ‘overly consensual’ big four should have been taken 10 years ago
  Believe in reform of the audit market only when the government legislates to make it happen, but the start of the process carries a welcome whiff of seriousness.One can’t call the proposals radical, because many of the recommendations are merely commonsense solutions to ancient problems. Action should have happened a decade ago when the banks, boasting healthy reports from their auditors, fel
  
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• Asos is a big company now, yet its margins fail to match up | Nils Pratley

  17-12-2018 17:15
  The fast fashion online store remains optimistic despite a hefty profit warningAsos’s heavy profits warning is merely “a bump in the road” and the ambitions for the business remain intact, declared chief executive Nick Beighton. He scores top marks for optimism but Asos investors may feel the refrain is alarmingly familiar. Related: Asos issues shock profit warning after November downturnContinue reading...
  
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• 'Peak stuff', interest rates and a dollop of Brexit have retailers worried

  17-12-2018 15:50
  The UK high street is suffering and now even online outlets are feeling the pinchTake a high street in the throes of structural upheaval. Add a large dollop of Brexit uncertainty, a pinch of unusually warm weather and what do you get? The sort of dish that will turn the stomach of even the toughest retailer.This is the crunch time for shops and online shopping outlets. Christmas is when consumers tend to spend more freely and many retailers make their profits. Last year, November and December ac
  
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• Trumpy Bear: the perfect Christmas gift, no matter your politics. No, really

  17-12-2018 15:34
  A teddy bear that looks like Donald Trump is said to be selling well with Democrats and Republicans alike. It’s a far cry from the Teddy Roosevelt-inspired originalName: Trumpy Bear.Age: 17 months. Continue reading...
  
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• Laura Ashley to close 40 stores, putting hundreds of jobs at risk

  17-12-2018 12:44
  New chairman wants fewer but larger stores in UK and is keen to expand presence in ChinaLaura Ashley is to close 40 stores, representing a quarter of its UK outlets, in a move that puts hundreds of jobs at risk.The company’s new chairman, Andrew Khoo, who took on the role from his father last week, said the stores were closing amid a “challenging environment” in the UK that had hit sales of expensive products such as furniture.4 December Continue reading...
  
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• Amazon faces boycott ahead of holidays as public discontent grows

  17-12-2018 12:00
  A growing number of customers are fed up with the company, from its working conditions at warehouses to anti-tax lobbyingThe holiday season is all about spending the time with your loved ones and, judging by most office mailrooms, shopping on Amazon. Last year, 76% of Americans who shopped online for Christmas presents said that they planned to do most of that shopping on Amazon.Amazon now accounts for just shy of half of all online sales in the US and Santa’s not so little helper is expec
  
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• The Entertainer acquires Spanish toy retailer Poly

  17-12-2018 11:58 via theretailbulletin.com
  Toy retailer The Entertainer has acquired Poly, a chain of 57 toy shops in Spain.
  
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• Asos shares plunge as profit warning shakes retail sector

  17-12-2018 10:52 via ft.com
  Online fashion retailer reveals ‘significant deterioration’ in sales ahead of Christmas
  
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• Asos shares plunge by 40% as profit warning rocks retail sector - business live

  17-12-2018 10:26
  Rolling coverage of the latest economic and financial news, as online fashion group suffers a “significant deterioration” in pre-Christmas tradingLatest: Asos shares plunge Asos holds conference call after profits warningIntroduction: Asos profits warning!
  Company says trading deteriorated in November 9.26am GMT Just over a year ago on 15th November 2017 @ASOS market cap was £5.06bn. This morning it currently stands at £2.03bn. 9.25am GMT Asos’s shares are plumbing
  
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• Blue Inc enters administration

  17-12-2018 09:48 via theretailbulletin.com
  Men’s fashion retailer Blue Inc has entered administration.
  
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• Asos shares plunge after profit warning

  17-12-2018 09:20 via ft.com
  Online fashion retailer reveals ‘significant deterioration’ in sales ahead of Christmas
  
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• ICON Outlet welcomes 12 new brands to its line-up

  17-12-2018 09:08 via theretailbulletin.com
  ICON Outlet, the premium outlet centre atLondon's O2, has seen 12 new brands open stores following its launch in October.
  
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• ASOS revises full year forecast for sales and profit

  17-12-2018 09:08 via theretailbulletin.com
  Online fashion retailer ASOS has reduced its expectations for its full financial year after trading in November was “significantly behind” expectations.
  
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• Asos warning on trading adds to retail fears

  17-12-2018 08:48 via ft.com
  Online fashion retailer reveals ‘significant deterioration’ in sales
  
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• Asos shares crash 38% after shock profit warning

  17-12-2018 08:45
  Downturn for fashion retailer suggests high street malaise is spreading to online companiesAsos has issued an unexpected profit warning after a poor November, becoming the latest retailer to be hit by weak consumer confidence, increased discounting and unusually mild weather.The downturn suggests the high street malaise is spreading to online retailers, with consumers worried about what Brexit will mean for their finances.4 December Related: Brexit worries and bad weather cloud the Christmas hig
  
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• Asos issues shock profit warning after November downturn

  17-12-2018 08:45
  Online fashion retailer hit by ‘significant deterioration’ in run-up to ChristmasAsos has issued an unexpected profit warning after a poor November, becoming the latest retailer to be hit by weak consumer confidence, increased discounting and unusually mild weather.The downturn suggests the high street malaise is spreading to online retailers, with consumers worried about what Brexit will mean for their finances. Related: Brexit worries and bad weather cloud the Christmas high street
  
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• Asos rocks retail sector with profits warning after bleak November - business live

  17-12-2018 08:35
  Rolling coverage of the latest economic and financial news, as online fashion chain suffers a “significant deterioration” in pre-Christmas tradingIntroduction: Asos profits warning!
  Company says trading deteriorated in November
  Asos: conditions remain challenging 7.35am GMT City traders are predicting that Asos’s shares will tumble by 15% to 20% when trading begins, in under half an hour. 7.33am GMT Asos has been one of the leading lights in the UK retail sector for years, so t
  
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• Brexit worries and bad weather cloud the Christmas high street

  17-12-2018 07:01
  UK consumers are reining in spending as economic uncertainty dents footfall and hits salesRetailers vying for customers in the last full week of trading before Christmas are in for a tough time according to the latest predictions, with footfall expected to fall by about 3% this week as cash-strapped shoppers rein in spending.The forecast by retail analysis firm Springboard adds to the bleak picture facing the sector in the key festive trading season, as consumers uncertain about what Brexit will
  
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• Competition rages as growers and sellers prepare for 'peak poinsettia week'

  17-12-2018 07:00
  Some UK firms forgo their profits and treat the Christmas must-have as a loss leaderThe blaze of red blooms stretches as far as the eye can see, a riot of colour inside the vast greenhouse and a stark contrast with the grey rainy December sky above. The plants will be gift-wrapped the following morning and despatched to Marks & Spencer’s depots for delivery in time for “peak poinsettia week”.The poinsettia is Marks & Spencer’s biggest selling plant at Christmas. I
  
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