Retail news

• End to Tesco trial puts deferred prosecution deals in dock

  23-01-2019 20:28 via ft.com
  Store chain criticised for ‘throwing executives under the bus’ over accounting scandal
  
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• Tesco trial proves a drubbing for the SFO and its DPA | Nils Pratley

  23-01-2019 20:09
  The three executives acquitted on fraud charges have every right to be furiousCarl Rogberg, plus the other two Tesco executives acquitted of fraud charges, are entitled to be furious. They have been found not guilty in a case that can only be described as a humiliation for the Serious Fraud Office. And yet all three are named in the deferred prosecution agreement, or DPA, whereby Tesco’s UK subsidiary admitted it had dishonestly overstated its profits and paid a £129m penalty. Contin
  
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• UK retail sector shed 70,000 jobs in final months of 2018 – BRC

  23-01-2019 19:48
  Report comes as John Lewis is set to close Southsea store and outsource maintenance jobsSome 70,000 retail jobs were lost in the final months of 2018 and nearly a third of retail businesses plan to shed staff in the coming months, according to a new report that underlines the tough trading conditions on the high street.The survey, carried out by the British Retail Consortium, came as John Lewis revealed it is to close its smallest department store, Knight & Lee in Southsea in Hampshire, putt
  
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• John Lewis to close Southsea store

  23-01-2019 19:40 via theretailbulletin.com
  The John Lewis & Partners department store chain is to close its Knight & Lee shop in Southsea this July.
  
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• Radley teams up with Ascot Racecourse on exclusive collection

  23-01-2019 19:35 via theretailbulletin.com
  Radley London is teaming up with Ascot Racecourse to launch an exclusive collection of occasion handbags for Royal Ascot and the summer season.
  
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• Polo Ralph Lauren to open Liverpool ONE store

  23-01-2019 19:35 via theretailbulletin.com
  Fashion brand Polo Ralph Lauren is to open a new store at the Liverpool ONE shopping centre this spring.
  
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• Luke Johnson made at least £20m from Patisserie Valerie

  23-01-2019 19:31 via ft.com
  Entrepreneur may not recover all of £13m loans advanced in wake of accounting scandal
  
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• Johnson made at least £20m on Patisserie Valerie over years

  23-01-2019 19:31 via ft.com
  Entrepreneur may not recover all of £13m loans advanced in wake of accounting scandal
  
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• Patisserie Valerie parent closes 71 branches

  23-01-2019 17:30 via ft.com
  More than 900 jobs go in café chain and sister outlets
  
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• Ex-Tesco executive acquitted over accounting scandal

  23-01-2019 14:33 via ft.com
  Carl Rogberg is third of three managers at the UK retailer to be cleared in case
  
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• John Lewis to close Southsea store, putting 127 jobs at risk

  23-01-2019 14:16
  Retailer’s parent group also announces it is to outsource 365 maintenance jobsJohn Lewis is to close its smallest department store, Knight & Lee in Southsea in Hampshire, putting 127 jobs at risk.The retailer’s parent group will also outsource 365 maintenance jobs at its department stores, Waitrose supermarkets, distribution network and head office. The restructure will, after next year, strip those workers of access to the annual profit bonus enjoyed by all those directly employ
  
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• Webinar: acing customer experience in an omnichannel age

  23-01-2019 13:57 via theretailbulletin.com
  European Merchants - 29th January, 11am GMT | US Merchants - 31st January, 11am EST
  
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• Webinar: Acing Customer Experience in an Omni-channel Age

  23-01-2019 13:57 via theretailbulletin.com
  European Merchants - 29th January, 11am GMT | US Merchants - 31st January, 11am EST
  
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• Former Tesco executive acquitted over accounting scandal

  23-01-2019 11:49 via ft.com
  Carl Rogberg was one of three managers at the UK retailer to be cleared in case
  
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• Together, software and strategy can save struggling loyalty programs

  23-01-2019 11:44 via theretailbulletin.com
  In the highly competitive and discount-driven retail environment, loyalty programs seem like a smart solution for retaining otherwise fickle customers.
  
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• Former Tesco executive Carl Rogberg cleared of fraud

  23-01-2019 11:19
  Two other directors were found not guilty in December after judge threw out the caseThe last of the three Tesco executives accused of masterminding a fraud that triggered a financial crisis at the supermarket giant has been acquitted, leaving the Serious Fraud Office without a single conviction for the accounting scandal that wiped £1.5bn off the value of Tesco shares in one day.Carl Rogberg, 52, the former finance boss of the UK chain, was cleared in Southwark crown court on Wednesday mor
  
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• Burberry comparable store sales edge up 1%

  23-01-2019 09:17 via theretailbulletin.com
  Luxury brand Burberry has posted a 1% uplift in comparable store sales in its third quarter after reaping the benefits of its Christmas campaign.
  
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• Hotel Chocolat hails 'strong' Christmas

  23-01-2019 08:49 via theretailbulletin.com
  Chocolatier Hotel Chocolat saw its group revenue increase by 15% year-on-year over its busy Christmas trading period.
  
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• Joules profit up 14.7% in first half

  23-01-2019 08:48 via theretailbulletin.com
  Lifestyle clothing brand Joules increased its underlying pre-tax profit by 14.7% to £10.7 million in the first half of its financial year.
  
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• WH Smith boosted by success of travel business

  23-01-2019 08:46 via theretailbulletin.com
  WH Smith has reported a 6% uplift in total sales in the 20 weeks to 19 January although like-for-like sales were flat.
  
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• Marks & Spencer aims for simplicity in womenswear

  23-01-2019 07:00
  Spring/summer range includes focus on denim where M&S is the market leaderFrom selling loose fruit and veg in order to minimise plastic to another wave of UK store closures, the picture painted of Mark & Spencer in the headlines so far in 2019 is of a company doing its utmost to stay relevant and survive. When it comes to clothes, it’s very much the same story.At the preview of its spring/summer 2019 womenswear collection, the message is one of consistency and simplicity. Related:
  
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