Retail news

• Gap chief to step down as retailer sends profit warning

  07-11-2019 23:19 via ft.com
  Company cut its 2019 earnings forecast after comparable sales declined
  
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• Superdry reports steep sales drop after founder retakes helm

  07-11-2019 16:30
  But retailer says profit margins are starting to recover after move away from discountingSeven months after the founder of Superdry forced his way back into the fashion business it has reported a steep fall in sales but said its profit margins were starting to recover as it ended widespread discounting.Sales tumbled by more than 11% in the first half of its financial year as Julian Dunkerton retook the helm and overhauled the retailer, which was running frequent promotions to increase sales. &ld
  
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• Giambattista Valli comes to H&M – but will couture work on the high street?

  07-11-2019 16:07
  The Italian designer famous for his voluminous dresses is the latest to collaborate with the retailer. We asked fans whether some of his less practical designs would work in everyday lifeThe Italian couturier Giambattista Valli isn’t a household name in the same way as H&M’s previous designer collaborators – which range from Balmain to Moschino and Versace – were, but it didn’t stop some people camping out all night in parky weather. Continue reading...
  
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• Sainsbury's profits dive more than 90% as store closures cost £200m

  07-11-2019 12:53
  Grocer has shut dozens of Argos stores and 15 supermarkets as it battles against discount rivalsThe £200m cost of closing 15 supermarkets and dozens of Argos stores has all but wiped out profits at Sainsbury’s as the supermarket faces rising competition from discount rivals.The UK’s second largest grocer said pretax profits dived more than 90% to £9m in the six months to 21 September after the one-off property write-down, compared with £107m in the same period a yea
  
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• Never knowingly undersoiled – John Lewis trucks to run on cow manure

  07-11-2019 09:32
  Retailer’s fleets will use carbon neutral renewable biomethaneHundreds of John Lewis delivery trucks will begin running on cow power from 2021 as the retailer weans its fleet off polluting diesel fuel and switches to carbon-neutral cow manure.The retailer will begin using renewable biomethane made from manure slurry for almost 300 John Lewis and Waitrose delivery vans under new plans from its fuel supplier to swap rotting vegetables for poo power at no extra cost. Related: From stools to f
  
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• Sainsbury’s slows decline in food sales yet remains under pressure

  07-11-2019 08:50 via ft.com
  Price cuts lure shoppers back to the UK retailer but profits fall
  
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• Sainsbury’s chief warns of Brexit effect as profits plunge

  07-11-2019 08:50 via ft.com
  Price cuts lure shoppers back to UK retailer but store closures prove costly
  
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• John Lewis trucks to run on carbon-neutral cow manure

  07-11-2019 01:01
  Retailer will use renewable biomethane, supplied by CNG Fuels, from 2021Hundreds of John Lewis delivery trucks will begin running on cow power from 2021 as the retailer weans its fleet off polluting diesel fuel and switches to carbon-neutral cow manure.The retailer will begin using renewable biomethane made from manure slurry for almost 300 John Lewis and Waitrose delivery vans under new plans from its fuel supplier to swap rotting vegetables for poo power at no extra cost. Related: From stools
  
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• Kirin investor turns activist with call for new growth strategy

  07-11-2019 01:00 via ft.com
  UK-based FP says Japanese brewer’s diversification into noncore areas ‘destroys value’
  
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• Activist targets Kirin urging overhaul in growth strategy

  07-11-2019 01:00 via ft.com
  UK-based FP says Japanese brewer’s diversification into noncore areas ‘destroys value’
  
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