Retail news

• Philip Green’s fashion empire to shut stores and axe 520 jobs

  22-05-2019 21:44 via ft.com
  Arcadia restructuring plan faces strong opposition from Pensions Regulator
  
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• Arcadia to shut stores and axe 500 jobs in restructuring plan

  22-05-2019 21:44 via ft.com
  Philip Green’s retail group eyes company voluntary arrangement
  
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• M&S’s £600m rights issue is more like a Lidl offer

  22-05-2019 21:05 via ft.com
  Fundraising for Ocado venture will not deliver a profiterole or a profit for a while
  
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• Does Philip Green think his offer stands a sporting chance?

  22-05-2019 20:45
  From the position of the landlords and the pension bodies, it looks like he could do a lot betterHere comes Sir Philip Green, pleading poverty from Monaco. Or rather, it’s Lady Green, as the owner of the Arcadia fashion empire, who wants to shrink the business by 23 stores and would like landlords to take a whack in the form of rent cuts and lease re-jigs on another 194 premises in the UK. Arcadia’s Topshops in the US will close. And the affected UK landlords can have 20% of the proc
  
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• Topshop owner Philip Green plans to close 23 stores in Arcadia rescue

  22-05-2019 18:57
  Group, which has 566 UK and Irish stores, is asking for rent cuts to help save the businessFull list: the Arcadia shops set to closeSir Philip Green plans to close 23 UK stores with the loss of 520 jobs as part of a financial rescue plan for his retail empire, which takes in Topshop, Dorothy Perkins, Miss Selfridge, Wallis, Evans and Burton.The company is also asking landlords to accept rent cuts on up to 194 of its 566 UK and Irish stores in a rescue package that will involve the closure of all
  
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• Topshop owner Philip Green plans to close 23 stores as part of Arcadia rescue

  22-05-2019 18:57
  The group, which has 570 UK shops, needs support of landlords for a deal intended to cut costsSir Philip Green plans to close 23 UK stores with the loss of 520 jobs as part of a financial rescue plan for his retail empire, which takes in Topshop, Dorothy Perkins, Miss Selfridge, Wallis, Evans and Burton.The company is also asking landlords to take rent cuts on up to 194 of its 566 UK stores as part of a rescue package which will also involve the closure of all Topshop’s 11 US stores. Relat
  
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• Arcadia shops to shut under Philip Green's rescue plan – full list

  22-05-2019 18:57
  Topshop and Dorothy Perkins among the 23 stores to close as part of the group’s proposalsArcadia Group locations set for closure under Sir Philip Green’s CVA proposals (lead brand in brackets): Continue reading...
  
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• Open and shut case for model railways | Brief letters

  22-05-2019 18:49
  Milkshakes | Boots and plastic | Model railways | Mulhouse | WordsearchNo, Aditya Chakrabortty, it is not “political theatre” to throw milkshakes at people (Journal, 22 May), whoever they are. If you condone this you may as well condone the shouting of sexual abuse at females in the street – just a bit of banter, after all. I am no fan of Nigel Farage, but I don’t agree with this attitude – and I do not agree with printing a front-page picture of Farage showing the
  
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• Arcadia to close stores and shed 500 jobs in restructuring plan

  22-05-2019 18:36 via ft.com
  Philip Green’s retail group eyes company voluntary arrangement
  
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• This is not an M&S rights issue, this is a Lidl rights issue

  22-05-2019 16:53 via ft.com
  Fundraising for Ocado venture won’t deliver a profiterole or a profit for a while
  
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• Philip Green offers landlords 20% stake in Arcadia rescue plan

  22-05-2019 16:53
  If plan cannot be agreed, the retail magnate’s firm may face administrationSir Philip Green’s retail empire has offered landlords a 20% stake in the business as he aims to finalise a rescue restructure of his Topshop to Dororthy Perkins group as soon as Wednesday.In talks intended to clear a path for the closure of about 60 of the group’s 570 stores and rent cuts on dozens more, Green has also offered a £50m cash investment for updating stores and online sales infrastruct
  
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• Fashion brand Prada unveils plan to go fur-free

  22-05-2019 15:59 via ft.com
  Italian luxury goods company will no longer use fur in its products
  
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• Target bucks US retail gloom with strong sales growth

  22-05-2019 13:48 via ft.com
  Cheap-chic offerings and same-day delivery help drive first-quarter earnings
  
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• DIY retailer Lowe’s issues profit warning on rising costs

  22-05-2019 13:03 via ft.com
  Shares in US home improvement retailer slip nearly 9 per cent in pre-market trade
  
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• Marks and Spencer profits dented by turnround costs

  22-05-2019 12:20 via ft.com
  Retailer to launch deeply-discounted rights issue to fund Ocado deal
  
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• Body Shop and Aesop owner close to buying Avon in £1.58bn deal

  22-05-2019 10:42
  Brazil’s Natura Cosméticos reportedly expected to swoop on doorstep-selling firmThe Brazilian owner of the Body Shop has agreed to buy Avon Products in a deal that values the US cosmetics company at more than $2bn (£1.58bn), according to reports.Natura Cosméticos was expected to announce the takeover as early as Wednesday, the Financial Times reported. After the deal, Natura would control more than three-quarters of the combined group. The remaining shares would be owne
  
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• Superdry names interim financial head as it overhauls board

  22-05-2019 10:35 via ft.com
  Nick Gresham’s appointment comes after boardroom tussle and profit warning
  
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• Case Study: Ocado; Delivering beyond the doorstep; a positive customer experience

  22-05-2019 10:30 via theretailbulletin.com
  Ocado is the world’s largest dedicated online grocery retailer and a brand that is built on delivering the best shopping experience in terms of service, range and price.
  
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• Marks & Spencer to close another 20 stores as profits plunge

  22-05-2019 10:23
  M&S annual profits almost wiped out by a £440m bill for a modernisation programmeMarks & Spencer is accelerating its retreat from the high street by closing a further 20 of its full-line stores, which sell clothing and food under one roof.The retailer said it planned to close 85 of its big high street stores, on top of the 35 it has already shut. The company is battling the transfer of clothing sales online and it had already told the City to expect about 100 closures. Related: Jam
  
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• Superdry hires Nick Gresham as interim CFO

  22-05-2019 10:06 via theretailbulletin.com
  The Superdry clothing brand has appointed Nick Gresham as its chief financial officer on an interim basis.
  
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• Pets At Home revamp helps lift earnings ‘ahead of expectations’

  22-05-2019 10:00 via ft.com
  UK pet-and-vet group retail business returns to growth and shares gain in London
  
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• M&S hails turnaround progress despite drop in profits

  22-05-2019 09:44 via theretailbulletin.com
  Marks & Spencer has said it is making good progress with its turnaround despite reporting a drop in full year profit.
  
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• JC Penney appoints chief customer officer

  22-05-2019 09:44 via theretailbulletin.com
  JC Penney has appointed Shawn Gensch as its chief customer officer.
  
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• Marks and Spencer hit by heavy costs of turnround

  22-05-2019 08:45 via ft.com
  Retailer to launch deeply-discounted rights issue to fund Ocado deal
  
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• May’s new deal, Boeing rift, China film crunch

  22-05-2019 06:01 via ft.com
  The UK prime minister offers Labour a deal that includes the possibility of a second EU referendum
  
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• Falling sales at big US department stores spark sell-off

  22-05-2019 01:18 via ft.com
  Health of US consumer back in focus after Nordstrom, Kohl’s and JC Penney disappoint
  
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