Retail news

• Sainsbury's was naive to pursue Asda but its CEO deserves to stay on

  01-05-2019 20:34
  Mike Coupe’s plans lack whizz-bang excitement but would still be worthwhile. Let him try Those who were really in the money, as Mike Coupe likes to sing, were Sainsbury’s lawyers, bankers, consultants and advisers. The supermarket chain clocked up £46m in costs and fees in its deservedly doomed attempt to buy Asda.Coupe, the chief executive, offered the thin justification that £46m is a relatively small number when set against the £12bn retailing colossus that would
  
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• Should Lloyds be returning £1bn to shareholders?

  01-05-2019 19:32
  Regulators say bank can reduce its risk buffer but not everyone values the decision
  
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• ‘I agree with Piers Morgan’: M&S’s new vegetarian Percy Pigs leave a bad taste in the mouth

  01-05-2019 17:52
  By taking out the gelatine from its much-cherished sweets, has Marks & Spencer bitten off more than it can chew?Marks & Spencer has set the British alt-reactionary – in ascending order of Reddit-style neo-hate they are: Piers Morgan, Julia Hartley-Brewer and Katie Hopkins – ablaze. The chain changed the recipe of its Percy Pigs range, removing the gelatine to make them entirely vegetarian. (The company has been selling an alternative veggie version since 2011, coloured green,
  
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• Sainsbury’s: Coupe’s beaten track

  01-05-2019 17:47
  No amount of fast footwork can hide the £46m cost of failed Asda deal
  
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• Mattel expands toy partnership with Disney’s Pixar

  01-05-2019 17:23
  New licensing agreement will give boost to toymaker’s efforts to shore up sales
  
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• High streets can be saved. Here’s how to reinvent them for the 21st century | Vidhya Alakeson

  01-05-2019 16:11
  As Debenhams plans to close 22 stores, community projects show how to create a sustainable future for town centresThe statistics on high-street decline are bewildering. The average high street in England and Wales has lost 40 shops in the past five years. More than 160,000 retail jobs are expected to be lost this year. After a certain point, the numbers stop meaning anything. We lose sight of the real picture. So when Debenhams last week named the 22 stores it plans to close in 2020, many will h
  
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• Anya Hindmarch back at helm of luxury handbag brand

  01-05-2019 15:29
  Founder returns to fashion group’s top job eight years after stepping down as chief
  
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• Estée Lauder bucks China gloom, raises guidance again

  01-05-2019 14:33
  Slowdown in demand from Chinese consumers ‘didn’t happen’ during the quarter, says CEO
  
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• Sainsbury's boss defiant despite £46m cost of failed Asda merger

  01-05-2019 12:53
  Mike Coupe says he has board’s backing to stay in his post as supermarket’s profits slumpThe chief executive of Sainsbury’s has said he has the full support of the board to remain in his post despite a failed attempt to merge with Asda, which cost £46m last year.Annual pre-tax profits dived 41.6% to £239m after £396m of one-off costs, including the cost of preparing a deal with Asda, which was crushed by the competition regulator last week. Related: Mike Coupe
  
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• Sainsbury’s counts £46m cost of failed Asda takeover

  01-05-2019 12:49
  Supermarket chain sticks to business-as-usual message a week after collapse of £7bn merger
  
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• Sainsbury's profit impacted by failed proposed merger with Asda

  01-05-2019 09:55 via theretailbulletin.com
  Sainsbury’s has seen its full year underlying pre-tax profit increase by 7.8% to £635 million although statutory pre-tax profit was hit by charges relating to its failed proposed merger with Asda.
  
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• Retailer Next first-quarter sales boosted by warm Easter

  01-05-2019 08:51
  Better than expected results as holiday encourages shoppers to visit high street
  
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• Next sales up 4.5% in first quarter

  01-05-2019 08:43 via theretailbulletin.com
  Next has reported that its full price sales were ahead of its internal forecast in its first quarter and rose by 4.5% year-on-year .
  
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• Sainsbury’s reveals £46m in fees from failed Asda takeover

  01-05-2019 08:39
  Full-year profit beats forecast as supermarket chain stresses business as usual
  
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• Argos launches first self-service digital store

  01-05-2019 08:02 via theretailbulletin.com
  Argos has opened its first self-service digital store as it looks to offer customers a check-out free shopping experience.
  
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• John Lewis sales down 5.3% last week

  01-05-2019 08:00 via theretailbulletin.com
  Sales at John Lewis & Partners fell by 5.3% year-on-year last week due to the majority of its department stores being closed on Easter Sunday and the impact of warm weather on footfall.
  
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• Debenhams demands business rate cuts

  01-05-2019 06:00
  Retailer attempts to reduce store costs through a restructuring of the business
  
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