Retail news

• Sirius shareholders left hoping all the digging won't be down to them | Nils Pratley

  06-08-2019 20:54
  The mining concern seems to be blaming US-China tensions for pulling its $500m junk bond offerWhat a useful phrase, “current market conditions”. It can be deployed in almost any situation with no need to join the dots between, say, latest tensions in the US-China trade war and an attempt to raise $500m to help construct an enormous fertiliser mine under the North York Moors.Sirius Minerals, hard at work already near Whitby, rolled out the magic words as it pulled its junk bond offer
  
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• Sweden's Klarna becomes biggest fintech firm in Europe

  06-08-2019 20:25
  ‘Shop now, pay later’ payments operator valued at $5.5bn after fresh round of investor fundingKlarna, the Swedish payments company with a “shop now, pay later” model, has become the largest private fintech firm in Europe after a fresh round of investor funding increased its value to $5.5bn (£4.5bn).The blockbuster valuation comes after the startup raised $460m (£378m) from investors led by Silicon Valley-based Dragoneer, alongside others including BlackRock an
  
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• Boohoo web deal leaves rivals stuck in the middle

  06-08-2019 18:11 via ft.com
  Buying the online operation of Karen Millen continues retail polarisation trend
  
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• Boohoo snaps up Karen Millen and Coast in pre-pack deal

  06-08-2019 17:44 via ft.com
  More than 1,000 jobs at risk after fashion group buys online business but not stores
  
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• Boohoo moves for Karen Millen and Coast but 1,100 jobs at risk

  06-08-2019 15:53
  Retailer buys online businesses but 32 standalone and 177 concession stores to closeAll 209 UK outlets of Karen Millen and Coast are to close, putting up to 1,100 jobs at risk, as the brands’ digital business has been bought out of administration by online retailer Boohoo for £18.2m.Administrators at Deloitte said 62 employees at the retailers’ head offices had been made redundant with immediate effect and stores would only remain open for “a short time” while stock
  
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• John Lewis and Mac Cosmetics cancel 'back to school' makeup class

  06-08-2019 15:37
  Event costing £30 at Bluewater shopping centre is scrapped after criticism from parentsJohn Lewis and Mac Cosmetics have cancelled a “back to school” makeup masterclass after criticism from parents.The event had been advertised on Facebook and was scheduled to take place later this month at John Lewis’s store in Bluewater shopping centre, Kent. Advertised as a “mini masterclass”, it reportedly cost £30 – redeemable against Mac purchases - and offer
  
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• Regulating the internet’s fake feedback machine

  06-08-2019 15:04 via ftalphaville.ft.com
  The UK and US governments are making moves.
  
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• Marketing boss quits Victoria's Secret after first trans model hired

  06-08-2019 15:03
  Ed Razek, who apologised last year for transphobic remarks, leaves US lingerie brandEd Razek, the chief marketing officer at Victoria’s Secret, who last year claimed “transsexual” models should not be cast “because the show is a fantasy”, has resigned days after the lingerie brand hired its first openly transgender model.Valentina Sampaio, a 22-year-old Brazilian, shared a picture of herself on Instagram on Saturday taking part in a shoot for the Pink line, which is
  
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• HSBC chair Mark Tucker's decision to oust CEO may lead to backlash

  06-08-2019 12:06
  Expelling popular insider John Flint might have shaken up bank’s cosy atmosphereMark Tucker, chairman of HSBC, has a reputation for moving quickly and being a plain speaker. In ousting chief executive John Flint, who only got the job 18 months ago, he has lived up to the speed part. But what happened to the famed blunt rhetoric?Shareholders deserved better than a statement that said nothing of substance to explain the cull. A change of boss is needed “in the increasingly complex and
  
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• Karen Millen stores in doubt as Boohoo buys online arm

  06-08-2019 10:05 via ft.com
  Deal raises questions over future of chain’s physical outlets
  
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• Karen Millen stores in doubt as Boohoo bids for online arm

  06-08-2019 10:05 via ft.com
  Deal raises questions over fate of womenswear chain’s outlets
  
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• Boohoo move for Karen Millen and Coast puts 1,100 jobs at risk

  06-08-2019 09:45
  Cyber retailer offers to buy online businesses but fails to mention high street networkOnline retailer Boohoo has made an offer to buy the digital businesses and brands of Karen Millen and Coast, in a move that will raise fears for the jobs of hundreds of workers in the brands’ high street stores.In a statement to the stock market published on Tuesday, Boohoo said it had offered to buy the brands, but made no mention of the struggling Karen Millen’s extensive high street network.What
  
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• Barneys New York files for bankruptcy

  06-08-2019 09:31 via ft.com
  Luxury department store chain plans closures as it secures $75m in emergency funding
  
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• Why did John Lewis delay my £6,500 curtain order?

  06-08-2019 08:00
  As we moved house we faced endless problems. Now we need to get it back on trackWe ordered curtains and tracks from John Lewis (£6,550 including fitting) in April last year after moving into a new house, but the saga dragged into the autumn. We ordered at the Oxford Street store – picked fabrics, booked an estimator to measure up – and then completed the purchase in store. We were told the whole process would take “between six to eight weeks”.We chose the 0% finance
  
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• Department stores hit in worst July sales on record

  06-08-2019 01:02 via ft.com
  Good weather fails to lift high street as shoppers hold back on big purchases
  
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• UK retailers experience worst July since sales records began

  06-08-2019 01:01
  Total sales increase by 0.3%, according to data compiled by the British Retail ConsortiumBritish retailers have recorded the worst month for sales in July since records began, as consumers tighten their belts with Brexit approaching.According to British Retail Consortium sales data compiled by the accountancy firm KPMG, total sales increased by 0.3% in July, compared with a rise of 1.6% in July last year. Continue reading...
  
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• Barneys prepares bankruptcy filing

  06-08-2019 01:01 via ft.com
  Luxury department store chain plans closures and lay-offs as it seeks rescue funding
  
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