Retail news

• Next saviour David Jones dies aged 76

  30-12-2019 20:09 via ft.com
  
  Chief executive remembered as ‘a great leader and a good friend’ who rescued retailer
  
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• David Jones, saviour of Next, dies aged 76

  30-12-2019 20:09 via ft.com
  Chief executive remembered as ‘a great leader and a good friend’ who rescued retailer
  
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• Former Next boss Sir David Jones dies, aged 76

  30-12-2019 20:02
  
  Retailer’s saviour and former JJB Sports executive chairman had Parkinson’s diseaseSir David Jones, the former boss of Next, has died at the age of 76.He was responsible for turning the chain into a powerhouse of the high street, and guided the current CEO Simon Wolfson when he was Jones’s assistant during the 1990s. Continue reading...
  
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• Retail think-tank predicts post-election rise in sales

  30-12-2019 17:57 via ft.com
  Industry group ‘cautiously optimistic’ as consumer confidence returns
  
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• Ray-Ban maker scammed out of £162m

  30-12-2019 17:20 via retailgazette.co.uk
  
  // Ray-Ban maker EssilorLuxottica has been scammed by staff at its Thailand factory
  // The company is facing a £162 million lossRay-Ban has been scammed out of £162 million after EssilorLuxottica, the company behind the sunglasses retailer, discovered a fraud at one of its factories in Thailand.
  The company, which also owns Michael Kors glasses, said it hopes that what it cannot recover from frozen bank accounts could be recuperated from lawsuits or insurance.
  “Subsidiary Essil
  
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• Sustainable spending reaches £29.7bn, Co-op says

  30-12-2019 13:40 via retailgazette.co.uk
  
  // The Co-op reports that sales of ethical goods have increased thanks to consumers’ persuasion
  // Spending on sustainable products reached £29.7 billion in 2018The Co-op has found that sales of ethical goods and services in the UK have increased almost tenfold in 20 years.
  Consumer spending on sustainable products reached £29.7 billion in 2018, up from £3.1 billion in 1999.
  Overall household consumption has doubled while inflation rose 52 per cent, according to the ONS.R
  
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• Over 140,000 jobs have been lost this year

  30-12-2019 11:28 via retailgazette.co.uk
  
  // More than 2750 jobs were lost every week in 2019
  // 38,100 of the jobs lost this year were down to retailers filing for administration
  // 26,500 roles were shed through CVAsOver 140,000 jobs have been lost this year as store closures and administrations took a toll on the UK’s high streets, according to new research.
  More than 2750 jobs were lost every week, predicting a similar high street crisis for 2020, the Centre for Retail Research (CRR) found.
  CRR said that unless the government
  
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• M&S scrambles to replace finance chief Humphrey Singer

  30-12-2019 10:32 via retailgazette.co.uk
  
  // M&S seeking for a new finance chief to replace Humphrey Singer
  // Singer is due to leave office in less than a weekMarks and Spencer is reportedly searching for a finance chief to replace Humphrey Singer, less than a week before he officially resigns from the embattled high street retailer.
  M&S is preparing to install an interim chief finance officer in the coming days after concluding that an initial shortlist of permanent replacements had failed to produce an acceptable candidate,&n
  
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• Joy to file for administration, risking 182 jobs

  30-12-2019 09:58 via retailgazette.co.uk
  
  // Joy files notice of intention to appoint administrators
  // The collapse will be the retailer’s third time
  // It employs 182 people and has 10 stores in the UKJoy has filed notice of its intention to appoint administrators just two years after it was acquired out of insolvency in a pre-pack deal by its founders.
  The fashion retailer said it is likely to fall into administration and become the first retailer to collapse after Christmas.
  The administration would be Joy’s third t
  
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• $100bn in unwanted presents to be returns in the US this year

  30-12-2019 09:56 via chargedretail.co.uk
  US shoppers are expected to send back a whopping $100 billion in unwanted presents purchased over the holiday season as retailers begin to struggle with this year’s record-breaking epidemic.
  Retailers are set to see returns rise six per cent from last year according to Optoro, as the number of purchases over the holiday period is expected to have risen by around five per cent to roughly $1.1 trillion.
  Online retailers are set to be worse hit, with one in three items purchased online due to
  
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• UK high streets shed 140k jobs this year with more to come – study

  30-12-2019 01:01
  
  Separate report says almost 300k retail roles mostly held by women cut in past decadeUK high streets have shed more than 140,000 jobs this year as store closures and retail failures made 2019 one of the most challenging years in a generation.More than 2,750 jobs were lost every week, according to a detailed analysis by the Centre for Retail Research (CRR) published today. It predicts the picture will worsen in 2020, unless the government intervenes, with high business rates one of the factors bl
  
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• Ethical sales rise as consumers go sustainable

  30-12-2019 01:01 via ft.com
  Research by the Co-op shows tenfold increase in two decades
  
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