Retail news

• Is Amazon the undoing of Tesco? Or is Tesco doing an Amazon?

  10-04-2019 21:26 via ft.com
  Grocer’s emphasis on loyalty scheme and app mirrors US giant’s ways
  
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• Unloved Stagecoach may have a point on rail franchise pension risks

  10-04-2019 20:53
  DfT says company knew the rules and has only itself to blame for three disqualificationsGood riddance to Stagecoach and Virgin Trains? Well, the train operating combo is certainly unloved after last year’s debacle on the East Coast mainline. But Stagecoach’s disqualification from three franchise competitions has nothing to do with that episode.This time the company may have a fair point: how can it bid for a rail franchise if it doesn’t know what long-term pension liabilities i
  
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• How Mike Ashley ended up in cold on Debenhams deal

  10-04-2019 20:02 via ft.com
  Pugnacious billionaire and biggest shareholder should have been favourite to take over UK chain
  
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• Sports Direct issues legal threat to remove Debenhams administrators

  10-04-2019 18:28
  Lawyer’s letter says adviser FTI Consulting is conflicted and should be removed The Sports Direct boss Mike Ashley has threatened legal action to remove Debenhams’ administrators after his stake in the department store group was wiped out and the company put into the hands of its lenders.Debenhams’ listed holding company entered pre-pack administration on Tuesday, rendering shareholders’ investments, including Sports Direct’s near-30% stake, worthless. Continue read
  
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• Tesco: rolls in the aisles

  10-04-2019 16:48 via ft.com
  The prospect of share buybacks or special dividends should support the share price
  
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• Philip Green's Arcadia empire buys back 25% stake in Topshop chain

  10-04-2019 15:55
  Survival plan includes dozens of store closures and cuts to pension fund paymentsSir Philip Green’s Arcadia empire has bought back a 25% stake in its Topshop chain from a US private equity firm, as it paves the way for a survival plan that involves closing stores and cutting payments to its pension fund.Leonard Green & Partners, a private equity firm, bought the stake in Topshop and Topman for a reported £350m in 2012. But by 2017 it had written the value of the investment down t
  
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• US private equity firm sells Topshop stake back to Arcadia

  10-04-2019 14:05 via ft.com
  Leonard Green divests 25 per cent share of billionaire Philip Green’s clothing group
  
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• Instagram Checkout – What does it mean to you?

  10-04-2019 12:41 via theretailbulletin.com
  The recent launch of Instagram Checkout (albeit in a closed beta trial for the time being) raises some interesting questions about where the platform is heading and how it’s positioning itself for the future.
  
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• Wyevale sells 31 garden centres to Dobbies

  10-04-2019 12:33 via theretailbulletin.com
  Wyevale has sold 31 of its garden centres to Dobbies for an undisclosed sum.
  
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• Tesco hails turnaround performance

  10-04-2019 12:16 via theretailbulletin.com
  Tesco has posted a 28.8% increase in full year pre-tax profit to £1.67 billion as the retailer moves closer to completion of its turnaround.
  
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• Maison Bonnet: Inside the workshop of the London spectacles maker

  10-04-2019 12:00
  A peek at the extraordinary skill and precision that goes into each pair of handmade glasses Continue reading...
  
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• Almost 2,500 shops lost from top 500 UK high streets in 2018

  10-04-2019 11:46
  Stores, banks and other businesses disappear at fastest rate since 2010 – PwC surveyChain stores are disappearing from UK high streets at the fastest rate in at least nine years as shoppers switch to buying online and rein in spending.A net 2,481 stores, banks and other high street businesses disappeared from Britain’s top 500 high streets last year, 40% more than in 2017, as only 3,372 shops opened and 5,833 closed, according to PricewaterhouseCoopers research compiled by the Local
  
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• Something has to give on UK’s ailing high streets

  10-04-2019 11:00 via ft.com
  Overcapacity is the main issue, but rates and taxes must be reviewed
  
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• Tesco says shoppers are feeling ‘Brexit fatigue’ but not stockpiling

  10-04-2019 10:10
  Supermarket’s chief executive Dave Lewis says consumer markets have remained stableTesco, Britain’s biggest retailer, says shoppers have not changed their behaviour ahead of Brexit and are not stockpiling despite an “uncertain” outlook.The group, which reported a 28% increase in profits for last year, said it had almost completed a turnaround, kicked off four years ago after an accounting scandal and a slump in performance. Related: A no-deal Brexit survival guide: what f
  
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• Dunelm expects to surpass full-year profit forecasts

  10-04-2019 10:08 via ft.com
  Homeware retailer reports surging online revenues as strategy shift reaps rewards
  
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• Ted Baker forms joint venture for China

  10-04-2019 09:45 via theretailbulletin.com
  Fashion retailer Ted Baker has entered into an agreement with Shanghai LongShang Trading Company to create ajoint venture for the markets of China, Hong Kong and Macau.
  
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• Dunelm posts strong third quarter growth

  10-04-2019 09:45 via theretailbulletin.com
  Furniture retailer Dunelm increased its like-for-like sales by 12.5% in its third quarter after it attracted more customers to its brand.
  
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• Asos profits down 87%

  10-04-2019 09:38 via theretailbulletin.com
  Online fashion retailer Asos has reported an 87% drop in its half year pre-tax profit after taking into account costs relating to its new warehouse capacity in the period.
  
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• Ted Baker to fold China operations into new JV

  10-04-2019 09:00 via ft.com
  Clothing group eyes expansion into Chinese market via Shanghai LongShang deal
  
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• Tesco raises dividend after 4-year turnround success

  10-04-2019 08:50 via ft.com
  Grocer on track to achieve margin targets during coming year
  
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• Asos profit shrivels in ‘disappointing’ half

  10-04-2019 08:40 via ft.com
  Earnings tumble close to 90 per cent amid German and French woes
  
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