Retail news

• Macy’s sparks $34bn retail wipeout after guidance cut

  10-01-2019 23:28 via ft.com
  Shares in US chain drop 18% as shoppers shift online across the industry
  
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• M&S investors should know one turkey does not make a turnround

  10-01-2019 21:39 via ft.com
  Pundits savoured talk of ‘steady performance’ but sales figures leave bad smell
  
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• M&S and Debenhams’ recovery efforts fail to deliver

  10-01-2019 20:59 via ft.com
  Sales do not yet reflect recent plans to transform UK retailers
  
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• Mike Ashley ousts Debenhams chairman and CEO

  10-01-2019 19:48 via ft.com
  Frustrated investors vote against reappointment at department store group’s AGM
  
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• Mike Ashley ousts CEO and chairman at Debenhams

  10-01-2019 19:48 via ft.com
  Frustrated investors vote against reappointment at department store group’s AGM
  
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• Tesco and M&S stockpile tinned food to prepare for no-deal Brexit

  10-01-2019 19:46
  Supermarket boss warns it will not be possible to store sufficient fresh foodTesco and Marks & Spencer have become the latest big names to reveal they are stockpiling packet and tinned foods as retailers’ no-deal preparations move up a gear now that the frenetic Christmas trading period is behind them.The Tesco chief executive, Dave Lewis, said the supermarket has been holding a special round of talks with its suppliers and increasing stocks of long life groceries. But, with Britain im
  
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• Debenhams chairman out; JLR and Ford cut jobs; M&S and John Lewis's Christmas struggle -as it happened

  10-01-2019 19:46
  Sir Ian Cheshire has been ousted at struggling retailer, as Sports Direct votes against chairman and CEOLatest: Turmoil at DebenhamsAshley, who owns almost 30% of shares, has voted chairman outEarlier:Jaguar Land Rover cutting 4,500 jobs worldwideFord plans sweeping job cuts
  M&S suffers falling Christmas salesJohn Lewis staff bonuses at threat 6.45pm GMT Time to wrap up for the day. Here’s a quick summary of the main events.UK retail chief Mike Ashley has tightened his grip on Debenham
  
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• Macy’s: dry January

  10-01-2019 19:31 via ft.com
  There is little patience for even mildly bad retail results
  
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• Debenhams chairman ousted by Mike Ashley

  10-01-2019 18:54
  Retailer’s chairman Ian Cheshire steps down and CEO Sergio Bucher leaves boardThe chairman and chief executive of Debenhams have been ousted from the retailer’s boardroom after two major shareholders – including Mike Ashley’s Sports Direct – voted against them.The chairman, Ian Cheshire, stepped down immediately while the chief executive, Sergio Bucher, will stay on but not as a director. Related: Christmas sales: the winners and losers on the UK high streetRelated:
  
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• Debenhams chairman and its CEO ousted from board by Mike Ashley

  10-01-2019 18:54
  Ian Cheshire steps down as chair of struggling retailer and chief executive Sergio Bucher leaves boardThe chairman and chief executive of Debenhams have been ousted from the retailer’s boardroom after two major shareholders – including Mike Ashley’s Sports Direct – voted against them.The chairman, Ian Cheshire, stepped down immediately while the chief executive, Sergio Bucher, will stay on but not as a director. Related: Christmas sales: the winners and losers on the UK h
  
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• Halfords: cycle lame

  10-01-2019 18:44 via ft.com
  Given the high street’s woes, cash flows will not keep up with the retailer’s optimism
  
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• Macy’s sparks $30bn retail wipeout after guidance cut

  10-01-2019 16:39 via ft.com
  Shares in US department store chain drop almost a fifth
  
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• Ford and JLR to cut thousands of jobs; John Lewis bonus at risk - business live

  10-01-2019 15:42
  Carmakers announce sweeping restructuring plans that will hit employees across EuropeLatest: JLR cutting 4,500 jobs worldwideChina slowdown and diesel crisis blamedFord plans sweeping job cutsEarlier:M&S suffers falling Christmas salesJohn Lewis staff bonuses at threat 2.42pm GMT Dame Caroline Spelman (MP for Meriden) and Jack Dromey (MP for Birmingham Erdington), who both have many Jaguar Land Rover workers in their constituencies, have issued a statement on the JLR job cuts.“It is, o
  
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• Macy’s cuts guidance after patchy holiday-shopping season

  10-01-2019 14:50 via ft.com
  Shares in US department store chain drop almost a fifth
  
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• John Lewis Partnership has 'positive' Christmas but considers suspension of partner bonus

  10-01-2019 13:49 via theretailbulletin.com
  The John Lewis Partnership has reported “positive” trading in the seven weeks to 5 January, with like-for-like sales at the Waitrose supermarket chain and the John Lewis department stores rising by 0.3% and 1% respectively.
  
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• What's next for omnichannel retail?

  10-01-2019 13:46 via theretailbulletin.com
  On 6 February Retail Bulletin's Omnichannel Futures Conference will aim to answer key questions on the future of retail.
  
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• Join us at the Omnichannel Futures conference

  10-01-2019 13:46 via theretailbulletin.com
  Retail Bulletin will be taking a look at the future of omnichannel retail at its Omnichannel Futures conference on 6 February.
  
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• Gymboree within days of filing for bankruptcy again

  10-01-2019 13:42 via ft.com
  Retailer emerged from Chapter 11 less than 18 months ago
  
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• Tesco beats Christmas retail blues with strong sales rise

  10-01-2019 11:55
  Supermarket records best festive sales performance in nearly a decadeTesco has emerged as one of the winners of the Christmas period, reporting its best growth in nearly a decade, while other major retailers such as John Lewis and Marks & Spencer suffered.Britain’s biggest retailer posted 2.2% growth in UK like-for-like sales in the six weeks to 5 January, its strongest Christmas performance since December 2009. Sales rose 0.7% in the 13 weeks to 24 November. Continue reading...
  
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• Ford to cut thousands of jobs; John Lewis staff bonus at risk - business live

  10-01-2019 11:26
  Carmaker announce sweeping restructuring plans that will hit employees across EuropeLatest: Ford plans sweeping job cutsEarlier:John Lewis bonus at threat
  Halfords shares tumble after profits warning 10.26am GMT Here are more details of Ford’s cost-cutting plans -- including likely job losses in the UK: 10.25am GMT It’s official....We are taking decisive action to make #Ford sustainably profitable in Europe, working collectively with all stakeholders to deliver a more focused line-up
  
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• DFS cautious about full year outlook

  10-01-2019 11:22 via theretailbulletin.com
  Sofa retailer DFS has reported underlying gross sales growth of 10% in the five months to 30 December but has said it is remaining cautious about the outlook for its full financial year.
  
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• Ted Baker beats festive sales slump despite 'forced hugs' claims

  10-01-2019 11:12
  Fashion brand’s sales rise 12.2% over festive period despite controversy surrounding its founderTed Baker has shrugged off concerns about a culture of “forced hugs” under its founder, Ray Kelvin, delivering strong sales growth over Christmas despite the revelations.Retail sales increased 12.2% in the five weeks to 5 January, after a 5% increase in retail space, as the fashion brand clocked up strong growth online. Related: Two-thirds of UK shoppers visited Aldi or Lidl over Chr
  
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• Halfords blames mild weather and weak demand for profit slip

  10-01-2019 10:30
  Car accessories and bike retailer’s sales fall as shares slump to six-year lowHalfords has been forced to issue its second profits warning in a year, blaming the mild weather and lower consumer confidence for a fall in sales at its stores.The shares slumped by 15%, to a six-year low of 235p, as the bikes to car maintenance firm said it expected to make underlying pretax profit of between £58m and £62m this year, up to 17% less than the £70m analysts had expected. Halfords
  
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• Debenhams reports sales fall following 'difficult' Christmas

  10-01-2019 09:49 via theretailbulletin.com
  Debenhams saw its group like-for-like sales drop by 3.4% in the six weeks to 5 January as the department store chain battled against volatile trading conditions in the UK.
  
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• Debenhams reports sales fall after 'difficult' Christmas

  10-01-2019 09:49 via theretailbulletin.com
  Debenhams saw its group like-for-like sales drop by 3.4% in the six weeks to 5 January as the department store chain battled against volatile trading conditions in the UK.
  
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• John Lewis and M&S suffer in worst Christmas since the financial crisis - business live

  10-01-2019 09:43
  John Lewis staff may not get a bonus this year, after a tough Christmas, as UK retailers update the City on their festive performanceIntroduction: Toughest Christmas in a decade
  Food and clothing sales fall at M&S
  John Lewis bonus at threat8.43am GMT Christmas sales at both Debenhams and Marks and Spencer were dismal but note that their full-year profit guidance is unchanged (for now). Retailers have to shift stock, they also have to make money. 8.43am GMT More early reaction to this morning
  
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• Tesco posts strong Christmas sales

  10-01-2019 09:25 via theretailbulletin.com
  Tesco has reported strong trading with UK and Republic of Ireland like-for-like sales rising by 2.6% over Christmas and by 1.9% in its third quarter.
  
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• John Lewis warns staff profit share may be suspended

  10-01-2019 08:53 via ft.com
  Employee-owned retailer reiterates forecast of ‘substantial’ annual profits drop despite upbeat Christmas sales
  
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• John Lewis profits drop despite upbeat Christmas

  10-01-2019 08:53 via ft.com
  Department store chain adds to litany of holiday woes on UK high street
  
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• John Lewis may suspend staff bonus as retail slump bites

  10-01-2019 08:39
  Weak consumer demand prompts department store chain to consider scrapping bonus for first time since 1953John Lewis may suspend its staff bonus this year in the wake of the worst Christmas for retailers since the depths of the financial crisis.The employee-owned John Lewis Partnership which also owns Waitrose said its board would “need to consider carefully … whether payment of a bonus is prudent in the light of business and economic prospects at that time”.What's the problem?
  
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• Marks & Spencer sales down 2.2% in 'difficult' market

  10-01-2019 08:37 via theretailbulletin.com
  Marks & Spencer’s third quarter like-for-like sales fell 2.2% after trading was impacted in November by weaker consumer confidence, mild weather and competitors’ discounting.
  
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• Marks & Spencer sales down 2.2%

  10-01-2019 08:37 via theretailbulletin.com
  Marks & Spencer’s third quarter like-for-like sales fell 2.2% after trading was impacted in November by weaker consumer confidence, mild weather and competitors’ discounting.
  
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• Holiday sales drop marks end of difficult year for Debenhams

  10-01-2019 08:36 via ft.com
  UK department store fails to revive holiday sales despite ’premium’ approach
  
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• Debenhams reports tough trading over Christmas

  10-01-2019 08:36 via ft.com
  Focus on ‘premium’ gifts fails to revive sales over key period
  
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• M&S leaves forecasts unchanged after mixed Christmas

  10-01-2019 08:30 via ft.com
  Weak trading in stores was offset by a stronger performance online
  
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• Tesco reports best Christmas sales growth since 2009

  10-01-2019 08:29 via ft.com
  UK grocer defies broader retail gloom with 2.2% like-for-like growth
  
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• Tesco boosted by strong Christmas despite ‘challenging’ market

  10-01-2019 08:29 via ft.com
  UK grocer defies broader retail gloom with bullish holiday run
  
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• WeWork management pitch next act after SoftBank deal

  10-01-2019 05:00 via ft.com
  Downgraded $2bn investment and market volatility raise new hurdles for executive team
  
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• Brexit uncertainty adds to retailers’ woes

  10-01-2019 01:02 via ft.com
  Shift to online sales and rising shop costs are hurting the high street 
  
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• Shops suffer worst December in a decade as Brexit fears take toll

  10-01-2019 01:01
  Total sales growth for retailers drops to zero last month for the first time since 2008Retailers experienced their worst Christmas for 10 years last month as shops were hit by Brexit worries and a dramatic fall in consumer confidence.Total sales growth dropped to zero in December for the first time since 2008, with all areas of the high street hit by a fall in sales except food, which benefited from intense competition among the major supermarket chains. Related: Amazon confirms it pays UK busin
  
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• Retailers endure worst Christmas since 2008

  10-01-2019 00:59 via ft.com
  Sales growth stalls for first time in 28 months as British consumers curb spending
  
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