Retail news

• Where Asos profits will come from is anyone's guess

  18-07-2019 20:47
  Online fashion retailer believes large-scale profits will arrive eventually but there are two big problemsOnline-only clothing retailer Asos has invested about £700m of capital in the past five years on the theory that a pot of gold awaits the company that can become “the world’s leading fashion destination for twentysomethings.” As the investment splurge reaches its intended peak, where do profits stand? Lower than the level in 2014, which is extraordinary.Thursday&rsquo
  
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• Waitrose to axe seven more stores putting 700 jobs at risk

  18-07-2019 20:31
  Supermarket to sell off or close unprofitable sites in England as cost-cutting continuesWaitrose is closing seven supermarkets as it undergoes its second round of store reductions this year, in a move that puts nearly 700 jobs at risk.Three supermarkets, in Bromley in London, Oadby in Leicestershire and Wollaton in Nottinghamshire, have been sold to Lidl in the latest sign of the changing grocery market being radically shaken up by fast-growing cut-price chains. Continue reading...
  
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• Debenhams seeks £50m to ease Christmas trading period

  18-07-2019 20:27
  Retailer has £200m lifeline from rescue package and is close to announcing new chiefDebenhams is lining up a £50m cash buffer from its lenders as it braces for a difficult Christmas trading period.The ailing department store, which is owned by a consortium of banks and hedge funds after falling into administration in April, is lining up the funds in addition to a £200m lifeline put up as part of a rescue restructuring completed in May. Related: Debenhams decline is a symptom of
  
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• Asos profit warnings seem to come as fast as its fashions

  18-07-2019 19:06
  Warehousing problems for the ecommerce group add to December’s margin woes
  
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• Asos profit warnings come as fast as its fashions

  18-07-2019 19:06
  Warehousing problems for the ecommerce group add to December’s margin woes
  
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• Coastal towns hit hardest by soaring level of insolvencies

  18-07-2019 18:06
  England and Wales data puts female rate at 26.6 per 10,000 adults against 23.3 for menThe number of people becoming financially insolvent in England and Wales has risen for a third year in a row, with women, and people living in coastal towns most likely to be affected.In its annual report, the Insolvency Service highlighted a growing gender gap as it said the overall insolvency rate in 2018 hit 25 per 10,000 adults – an increase of 3.6 per 10,000 on the previous year. Continue reading...
  
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• Toys R Us turns to tech to revive defunct chain

  18-07-2019 15:27
  Brand owner Tru Kids to sell products through immersive ‘retail as a service’ model
  
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• Women and coastal residents hit hardest by personal insolvencies

  18-07-2019 13:20
  England and Wales data puts female rate at 26.6 per 10,000 adults against 23.3 for menThe number of people becoming financially insolvent in England and Wales has risen for a third year in a row, with women, and people living in coastal towns most likely to be affected.In its annual report, the Insolvency Service highlighted a growing gender gap as it said the overall insolvency rate in 2018 hit 25 per 10,000 adults – an increase of 3.6 per 10,000 on the previous year. Continue reading...
  
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• Charity shop and antique purchases drive up UK retail sales

  18-07-2019 12:35
  Quantity of goods bought in June rose 1% from May, says ONSRetail sales in the UK were unexpectedly strong in June, boosted by sales of secondhand goods at charity shops and antique dealers, although department stores continued to struggle.The quantity of goods bought in June rose 1% from May, according to the Office for National Statistics. City economists had forecast a 0.3% drop in sales, following May’s 0.6% fall. The figures boosted the pound by half a cent to $1.2480. Related: Asos i
  
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• Retail sales jump unexpectedly in June boosting sterling

  18-07-2019 10:49
  Growing spending provided a boost to the economy and Brexit-hit pound
  
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• June retail sales rise unexpectedly and boost sterling

  18-07-2019 10:49
  Increasing spending provides respite to economy and Brexit-hit pound 
  
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• Asos issues third profit warning in seven months as shares fall

  18-07-2019 10:19
  Online fashion retailer blames glitch in rollout of European and US automated warehouses Shares in Asos tumbled on Thursday as the online fashion retailer issued its third profits warning in seven months, blaming problems with the rollout of its new automated warehouses.The group said sales were hit by the overhaul of warehouses in Berlin and Atlanta, which left the firm struggling to keep up with demand. It now expects to make profits of £30m to £35m this year, far below City foreca
  
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• Asos issues second profit warning in seven months as shares fall

  18-07-2019 10:19
  Online fashion retailer blames glitch in rollout of European and US automated warehouses Asos suffered a fresh share price collapse after the online fashion retailer blamed IT chaos in its overseas warehouses for a second profits warning in seven months.Analysts said investors were losing confidence in the former stock market star after a disastrous IT upgrade in Germany and stock problems in the US. The company has lost 60% of its value after a profit alert in December and another update in Mar
  
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• Asos shares plummet on third profit warning in 7 months

  18-07-2019 08:55
  Online fashion retailer blames botched rollout of new warehouses in the US and Europe
  
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