Retail news

• Nationalisation plans will bring more than howls of outrage | Nils Pratley

  15-05-2019 23:30
  Are Corbyn and McDonnell ready for the onslaught if they don’t get the compensation right?Jeremy Corbyn and John McDonnell have heard the howls of outrage from boardrooms and are unmoved. If Labour comes to power, the promised vast nationalisation programme would proceed at prices “to be decided by parliament”. Translation: compensation would be set below market prices.How far below? The next rung down on the valuation ladder is the regulated asset base, as used by regulators w
  
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• Morrisons boss hands back £600,000 in bonuses

  15-05-2019 20:36
  Chief executive says business could have done better, but still pockets £4.6mMorrisons boss David Potts has handed back nearly £600,000 in bonuses after saying the business could have done better.The supermarket’s chief executive took home £4.6m, the same amount as the boss of Tesco, a business which is more than three times the size of Morrisons. Continue reading...
  
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• Trying it on: retailers fight back against repeat returners

  15-05-2019 18:50
  Stores are tightening their policies and even blacklisting shoppers who make a mockery of their returns policies. But will it change what we buy online?I have always been a serial returner: I order clothes, try them on and send them back. I am not alone. Now stores, which have attracted consumers with generous pledges of free delivery and returns, have begun to tighten their policies.According to research for Barclaycard, 20% of retailers surveyed have implemented stricter returns policies over
  
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• John Lewis pension change to save £80m

  15-05-2019 18:33 via ft.com
  Employees vote in favour of reforms to end defined benefit scheme
  
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• John Lewis axes link to final salary in staff pension scheme

  15-05-2019 18:11
  Money-saving move follows store closures and cutting staff bonuses to lowest since 1953John Lewis is ditching any link to final salary in its pension scheme in a bid to save £80m annually.After the pension move from April next year, all 83,900 workers at the John Lewis Partnership, which also owns the Waitrose supermarket chain, will have access to a defined contribution scheme under which the company will match staff payments of up to 8% of pay. Continue reading...
  
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• Alibaba expects revenues to increase by a third

  15-05-2019 18:08 via ft.com
  Ecommerce giant shrugs off Sino-US trade concerns and weak Chinese retail sales
  
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• Walmart/Asda: stretchy pants, tight IPO price

  15-05-2019 17:47 via ft.com
  US business models, like US street style, do not automatically catch on overseas
  
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• Macy’s warns more Trump tariffs are threat to earnings

  15-05-2019 16:07 via ft.com
  US department store says levies on a further $300bn of Chinese imports will affect profits
  
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• Macy’s sales tick higher despite slowdown fears

  15-05-2019 16:07 via ft.com
  US department store chain had been under scrutiny after previous profit warning
  
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• Walmart 'seriously considering' Asda stock market flotation

  15-05-2019 14:40
  Analysts believe preparations for IPO mean US retailer has no plan B for UK supermarketWalmart is “seriously considering” a stock market flotation for Asda that is likely to value the business at more than £7bn after the failure of a planned merger between its British supermarket group and rival Sainsbury’s.Judith McKenna, the chief executive of Walmart’s international businesses, told Asda staff on Tuesday: “While we are not rushing into anything, I want you
  
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• China’s Alibaba forecasts annual sales of Rmb500bn

  15-05-2019 13:59 via ft.com
  Sales growth in fiscal fourth quarter exceeds analyst expectations
  
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• China’s Alibaba forecasts annual revenues of Rmb500bn

  15-05-2019 13:59 via ft.com
  Sales growth in fiscal fourth quarter exceeds analyst expectations
  
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• US consumers start to pay price of trade war with China

  15-05-2019 12:00 via ft.com
  Economists fear households and retailers face mounting burden as prospect of rising tariffs mounts
  
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• Kingfisher reports mixed first quarter

  15-05-2019 09:50 via theretailbulletin.com
  Kingfisher, the owner of B&Q and Screwfix, increased its like-for-like sales at constant currency by 3.4% in its first quarter in the UK and Ireland.
  
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• Shop Direct drives customer service innovation with customer closeness centre

  15-05-2019 09:28 via theretailbulletin.com
  Very and Littlewoods owner Shop Direct has launched a new “customer closeness” centre at its Liverpool head office as a means of driving customer service innovation.
  
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• Moss improves retail sales with like-for-like uplift of 2.2%

  15-05-2019 09:28 via theretailbulletin.com
  Men’s formalwear retailer Moss Bros has reported that like-for-like retail sales rose by 2.2% in the 15 weeks to 11 May.
  
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• John Lewis sales edged up 0.6% last week

  15-05-2019 09:28 via theretailbulletin.com
  Sales at John Lewis saw a slight increase of 0.6% year-on-year last week after the retailer’s department stores benefited from the cool and wet weather in the early part of the week.
  
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• Abercrombie & Fitch eliminates chief operating officer role

  15-05-2019 09:28 via theretailbulletin.com
  US fashion retailer Abercrombie & Fitch has eliminated the position of chief operating officer as part of its transformation plans.
  
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• Kingfisher maintains forecasts after mixed first quarter

  15-05-2019 08:32 via ft.com
  Sales rise at B&Q in UK and Ireland after cold spell dented previous year’s figures
  
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• Walmart ‘seriously considering’ IPO for Asda

  15-05-2019 00:19 via ft.com
  First time US retail giant has acknowledged speculation about the supermarket’s future
  
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• Walmart ‘seriously considering’ IPO for Asda

  15-05-2019 00:19 via ft.com
  First time US retail giant has acknowledged speculation about the supermarket’s future
  
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