Retail news

• Zillow shares pop as homebuying drives upbeat outlook

  09-05-2019 23:57 via ft.com
  Company accelerating expansion of Zillow Offers programme
  
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• BT’s dividend comeback is not yet cause for cheer

  09-05-2019 20:57 via ft.com
  Telecoms group appears to be going defensive instead of gaining strength
  
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• Hamleys sold to India's richest man in £70m deal

  09-05-2019 20:24
  World’s oldest toy retailer bought by the Mukesh Ambani-owned Reliance Industries The famous London toy retailer Hamleys has been sold to its Indian business partner, Reliance Industries, in a deal worth nearly £70m.Founded in 1760, Hamleys is the world’s oldest toy shop and over the last 16 years the retailer, best known for its seven-storey store on Regent Street, in London, has passed from owners in Iceland, to France and, most recently, to China. Continue reading...
  
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• Hamleys sold to Indian partner in £70m deal

  09-05-2019 20:24
  World’s oldest toy retailer bought by Reliance Industries in latest ownership changeThe famous London toy retailer Hamleys has been sold to its Indian business partner, Reliance Industries, in a deal worth nearly £70m.Founded in 1760, Hamleys is the world’s oldest toy shop and over the last 16 years the retailer, best known for its seven-storey store on Regent Street, in London, has passed from owners in Iceland, to France and, most recently, to China. Continue reading...
  
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• WH Smith extends partnership with King Power Group to Singapore

  09-05-2019 20:14 via theretailbulletin.com
  WH Smith has expanded its franchise partnership with King Power Group to include Singapore.
  
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• Gucci parent Kering agrees to €1.25bn tax settlement

  09-05-2019 18:52 via ft.com
  Dispute over extent of operations in Switzerland and Italy
  
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• Debenhams wins green light for restructuring plan

  09-05-2019 18:45
  At least 22 stores to close as creditors vote to approve CVA deal to prevent collapseDebenhams has won emphatic approval from its creditors for its rescue restructure plan, that will close at least 22 stores and force through rent cuts on many others.Landlords and other creditors, such as clothing suppliers, approved the closures which form part of two company voluntary arrangement (CVA) deals Debenhams’ new owners have said are necessary to prevent the business collapsing. A CVA is a type
  
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• Debenhams creditors back final element of refinancing plan

  09-05-2019 17:57 via ft.com
  Agreement will lead to 22 stores closing and reduced rents on 100-plus outlets
  
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• Unreal Madrid: fans deflated after Zavvi Champions League blunder

  09-05-2019 17:55
  Online retailer mistakenly told customers they had won a VIP trip to the final in SpainOnline retailer Zavvi has been forced to apologise after wrongly telling customers they had won a VIP trip to the Champions League football final in Madrid.Customers were told they were the winners of a competition that included two return flights, tickets for the final Champions League match between Liverpool and Tottenham Hotspur, a two-night stay at a four-star hotel in Madrid, and a £250 prepaid card
  
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• Own goal: fans deflated after Zavvi Champions League blunder

  09-05-2019 17:55
  Online retailer mistakenly told customers they had won a VIP trip to the final in SpainOnline retailer Zavvi has been forced to apologise after wrongly telling customers they had won a VIP trip to the Champions League football final in Madrid.Customers were told they were the winners of a competition that included two return flights, tickets for the final Champions League match between Liverpool and Tottenham Hotspur, a two-night stay at a four-star hotel in Madrid, and a £250 prepaid card
  
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• WTO in for the long haul on ecommerce talks

  09-05-2019 17:44 via ft.com
  Progress needed if organisation is to be seen as effective forum for dealmaking
  
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• Debenhams' creditors approve CVAs

  09-05-2019 15:15 via theretailbulletin.com
  The Debenhams department store chain’s creditors have approved the CVAs put forward by the company last month.
  
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• Morrisons seeks tie-ups to boost online service

  09-05-2019 14:37 via ft.com
  Supermarket group ends Ocado agreement and looks at expanding relationship with Amazon
  
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• Tapestry jumps 12% as Coach parent launches $1bn buyback

  09-05-2019 14:03 via ft.com
  Retail group reaffirmed its profit guidance for the full year
  
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• Morrisons free to use Amazon and Deliveroo in looser Ocado deal

  09-05-2019 12:39
  Online grocer eases restrictions as it covets more warehouse space to fulfil its own orders Morrisons is free to deepen it relationship with Amazon after the UK’s fourth-largest supermarket loosened its ties with Ocado, the online delivery service. The chain has signed a new deal with Ocado, which handles the supermarket’s online store’s deliveries, that will allow Morrisons to sell directly online through other platforms, including Amazon marketplace and Deliveroo, and to use
  
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• Superdry issues profit warning as overhaul of fashion chain begins

  09-05-2019 11:29
  Julian Dunkerton prioritises the restoration of ‘strong brand identity’ after returning to firmSuperdry, the fashion label that has undergone a boardroom shake-up, with its co-founder Julian Dunkerton returning to the helm, said it had taken swift action to improve the business as it issued its third profit warning in eight months.Dunkerton, the company’s biggest shareholder, last month won a six-month battle to rejoin the company, prompting the resignation of the entire board
  
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• Superdry issues profit warning

  09-05-2019 11:08 via theretailbulletin.com
  Fashion retailer Superdry has issued a profit warning following a weak performance in its wholesale and ecommerce channels in its fourth quarter.
  
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• Morrisons Q1 sales boosted by wholesale performance

  09-05-2019 09:40 via theretailbulletin.com
  The Morrisons supermarket chain has grown its first quarter like-for-like sales by 2.3% excluding fuel following what it describes as a robust performance in the period.
  
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• Ocado and Morrisons agree to suspend Morrisons' capacity at Erith CFC

  09-05-2019 09:05 via theretailbulletin.com
  Online grocer Ocado has agreed with Morrisons that it will temporarily suspend Morrisons’ capacity at Ocado's newest customer fulfilment centre in Erith in south east London.
  
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• Sales fall behind expectations at Morrisons in ‘challenging’ market

  09-05-2019 08:56 via ft.com
  Supermarket chain says it will terminate online exclusivity with Ocado
  
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• Superdry warns on profits for third time in past year

  09-05-2019 08:28 via ft.com
  Weak performance in company’s wholesale and ecommerce units weighs
  
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• Superdry warns on profits as founder talks up turnround

  09-05-2019 08:28 via ft.com
  Fashion brand issues first update since return of Julian Dunkerton
  
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• The Works posts increase in full year sales

  09-05-2019 08:27 via theretailbulletin.com
  The Works saw its revenue increase by 13.2% in the year to 28 April as the retailer continued its new store roll-out.
  
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• Velorution opens fifth London store

  09-05-2019 08:05 via theretailbulletin.com
  Cycle retailerVelorution has opened a new store in London’s King’s Road.
  
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• Holland & Barrett to stop selling wet wipes in fight against fatbergs

  09-05-2019 07:00
  Health food chain to replace all branded and own-label wipes with eco-friendly alternativesHolland & Barrett is to become the first UK high street retailer to stop selling wet wipes, in a drive to reduce the environmental damage wreaked as a result of them blocking sewers and waterways.The health food chain is removing all 34 branded and own-label products in its wet wipe range from its 800 UK and Ireland stores and – from July – replacing them with eco-friendly alternatives such
  
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