Retail news

• Patisserie Valerie says problems worse than expected

  16-01-2019 21:21
  ‘Thousands of false entries in ledgers’, says café chain
  
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• Sears lives on after chairman wins bankruptcy auction

  16-01-2019 19:30
  Eddie Lampert keeps US retailer alive with offer to buy hundreds of stores in $5bn bid
  
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• Tesco braces for Brexit by renting frozen food containers

  16-01-2019 18:26
  UK’s biggest supermarket group adds to storage space to ease potential disruption
  
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• South African fund faces losses on New Look bond bet

  16-01-2019 18:26
  Restructuring shows risks of trying to pick winners among beaten-up retailers
  
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• Patisserie Valerie warns accounts scandal worse than thought

  16-01-2019 17:29
  ‘Thousands of false entries in ledgers’, says café chain
  
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• Sears to stay open after chairman wins $5bn bankruptcy auction

  16-01-2019 17:06
  Eddie Lampert may be able to keep roughly 400 remaining Sears stores open and save tens of thousands of jobs, at least for nowSears will live on at least for now.The company’s chairman and largest shareholder, Eddie Lampert, won a bankruptcy auction for Sears, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The person agreed to speak on condition of anonymity because they were not authorized to discuss the negotiation publicly. Related: Closi
  
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• Nordstrom shares drop after slow holiday sales

  16-01-2019 16:25
  Off-price and digital sales jumped, but traffic was soft at department stores
  
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• Paperchase considers closing stores amid high street struggles

  16-01-2019 15:04
  Administrators HMV thought to be contemplating up to eight proposals from buyersThe cards and stationery retailer Paperchase is considering closing stores via an insolvency procedure, as administrators to HMV struggle to line up buyers.Paperchase, which has 130 sites in the UK, has appointed KPMG to advise on restructuring options as shoppers have veered away from the high street over Christmas and cut back on non-essentials. Related: Paperchase under pressure as an insurer reduces supplier cove
  
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• Paperchase considers closing stores amid high street gloom

  16-01-2019 15:04
  Cards and stationery retailer mulls restructuring options as HMV struggles to find a buyerThe cards and stationery retailer Paperchase is considering closing stores via an insolvency procedure, as administrators to HMV struggle to line up buyers.Paperchase, which has 130 sites in the UK, has appointed KPMG to advise on restructuring options as shoppers have veered away from the high street over Christmas and cut back on non-essentials. Related: Paperchase under pressure as an insurer reduces sup
  
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• M&S to start selling loose fruit and veg in shift away from plastic

  16-01-2019 14:19
  As part of London store trial greengrocers will also offer tips on how to prevent food wasteMarks & Spencer is to start selling more than 90 lines of loose fruit and vegetables free of all plastic packaging, in a trial that will put the traditional greengrocer back on the shop floor and revive the use of paper bags.As the retailer steps up its drive to reduce plastics, shoppers at its store in Tolworth, south-west London, will be able to pick their own loose produce displayed in two separate
  
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• Sears chairman wins bankruptcy auction

  16-01-2019 14:15
  Eddie Lampert keeps retailer alive with offer to buy hundreds of stores in $5bn bid
  
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• Asos rival Boohoo draws strong sales from young shoppers

  16-01-2019 12:32
  Fashion group’s Nasty Gal and PrettyLittleThing websites are a hit on mobileThe online fashion group Boohoo has emerged as a Christmas winner after young shoppers made a beeline for its PrettyLittleThing and Nasty Gal websites.Its arch-rival, Asos, issued a shock profit warning before Christmas, but Boohoo was able to report strong growth in demand for its £6 dresses and £10 jeans.Continue reading...
  
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• H&M continues to test new retail concepts

  16-01-2019 09:32 via theretailbulletin.com
  H&M is using some of its stores to test new concepts as it looks to improve the customer experience both in its physical shops and online.
  
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• The Works posts first half loss

  16-01-2019 09:18 via theretailbulletin.com
  The Works, the book, stationery and arts and crafts retailer, has reported a first half loss despite achieving strong sales.
  
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• Happy Christmas: Boohoo raises sales forecast

  16-01-2019 08:36
  Young shoppers flock to online fashion group’s Nasty Gal and PrettyLittleThing websitesThe online fashion group Boohoo has emerged as a Christmas winner after young shoppers made a beeline for its PrettyLittleThing and Nasty Gal websites.Its arch-rival, Asos, issued a shock profit warning before Christmas, but Boohoo was able to report strong growth in demand for its £6 dresses and £10 jeans.Continue reading...
  
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• Flybe's sale is right for staff and passengers | Nils Pratley

  16-01-2019 07:00
  Shareholders in the stricken airline may feel aggrieved at the hurried sale but it was long overdueWhat a day for democratic debate! Well, not at Flybe. Shareholders, still reeling from the board’s decision last Friday to accept a takeover offer at 1p a share, or just £2.2m, have now learned they won’t get a meaningful vote on the deal. The directors have instead agreed to flog the regional airline’s assets almost immediately at the same price to the same bidder, a consor
  
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