Retail news

• Marks & Spencer feels the squeeze as focus on skinny jeans fails to fire

  09-01-2020 20:50
  
  Retailer’s decision to bring in a range of tighter trousers saw sales fall by 1.7%After an era where skinny jeans ruled supreme, men’s trouser styles are becoming more relaxed and unstructured, with oversized fits becoming de rigueur.So there is some irony that Marks & Spencer was caught out this Christmas by its decision to replace some of its older “relaxed” fit trouser styles with tighter fitting jeans and chinos. The former sold out while its “stretch”
  
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• Getting to know your worst enemy | Brief letters

  09-01-2020 20:13
  
  Retail and PPI | Ernest Bevin and Herbert Morrison | Bag for life | Wardrobe waiting listIs it possible that British retail’s “worst year on record” (Report, 9 January), with particularly disappointing figures for November and December, might have something to do with the fact that the banks, having showered the economy with £50bn of what has effectively been “helicopter money” over the last decade, finally stopped paying out on PPI claims from the end of Augu
  
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• The decisions facing John Lewis as it tries to halt fall in profits

  09-01-2020 20:12
  
  Sharon White will have the challenge of a new management structure when she arrives as chairJohn Lewis boss quits as chain warns it may ditch bonusNils Pratley: John Lewis is not in a crisis – it has failed to adaptJohn Lewis has announced the departure of its department store boss after revealing that the shops suffered a 2% drop in sales over the Christmas period. Here are some of the problems that John Lewis needs to address in order to turn around one of the biggest names in British re
  
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• Wall Street hits record highs; UK rate cut hint hurts pound - as it happened

  09-01-2020 20:04
  
  BoE governor warns that UK economy may not rebound, as John Lewis and Marks & Spencer issue weak Christmas trading updatesWall Street hits fresh record highsMark Carney: rate cut possible if growth doesn’t improveJohn Lewis: bonus at risk as profits shrinkMD Paula Nickolds quits unexpectedly 7.04pm GMT Time for a recap Related: Bank of England governor hints at interest rate cut The Christmas retail winners and losers: Find out who fared well and who had a turkey over the crucial festi
  
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• John Lewis needs to sound different to a plc

  09-01-2020 19:01
  Cutting costs and jobs makes the employee-owned, service-led chain seem like the rest
  
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• US mall retailers hit by declining holiday sales

  09-01-2020 18:47
  JCPenney shares plunge after company delivers ‘more gloom than the grinch’
  
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• Where are the fashion retailers during Veganuary?

  09-01-2020 18:13 via retailgazette.co.uk
  
  As grocers continue to deliver an increasing range of vegan products for Veganuary – the growing trend of people abstaining from consuming or using animal products during the month of January – the spotlight is rarely on fashion retailers.
  While there some that offer animal-friendly and cruelty-free clothing, their efforts to eradicate animal products from their supply chain or range of items is questionable.
  Grocers that launch vegan ranges in January run the risk of losing momentum
  
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• Ikea buys Hammersmith’s Kings Mall to launch first small UK store

  09-01-2020 16:08 via retailgazette.co.uk
  
  // Ikea reveals plans to open a unique new small store format in Hammersmith, West London
  // Store will be located within Kings Mall Shopping Centre, newly acquired by Ingka Centres
  // Ingka Centres is Ikea’s property arm and the acquisition forms part of a £170m investmentIkea has acquired a West London shopping centre where it will also launch its first UK small format store.
  The Swedish retail giant’s property arm, Ingka Centres, bought Kings Mall Shopping Centre in Hammersm
  
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• Ikea buys west London shopping mall in city centre push

  09-01-2020 15:53
  
  Capitalising on bargain prices, Swedish chain thought to be looking for other similar sitesIkea has bought a shopping centre in west London and is understood to be looking for more malls in the UK as it makes the most of bargain prices in the crisis-hit retail property market.Hammersmith’s Kings Mall, which opened in 1980 and has 40 shops including H&M, Primark, Sainsbury’s and Wilko, is the Swedish furniture chain’s first shopping centre in the UK and the first it has take
  
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• Ikea buys west London shopping mall for £170m in city centre push

  09-01-2020 15:53
  
  Capitalising on bargain prices, Swedish chain thought to be looking for other similar sitesIkea has bought a shopping centre in west London for £170m and is understood to be looking for more malls in the UK as it makes the most of bargain prices in the crisis-hit retail property market.Hammersmith’s Kings Mall, which opened in 1980 and has 40 shops including H&M, Primark, Sainsbury’s and Wilko, is the Swedish furniture chain’s first shopping centre in the UK and the f
  
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• John Lewis is not in a crisis – it has failed to adapt | Nils Pratley

  09-01-2020 15:44
  
  The department store chain needs fresh thinking – its incoming boss may just provide itIn John Lewis’s Christmas advert, a fire-breathing CGI dragon caused havoc. Peak-season trading at the employee-owned business wasn’t quite that bad because Waitrose is destined to record same-again profits for the full year of £200m-ish. But profits at the department stores are unrecognisable.The phrase “substantially lower” than last year’s £115m probably impli
  
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• Wall Street hits record highs; UK rate cut hint hurts pound - business live

  09-01-2020 15:38
  
  BoE governor warns that UK economy may not rebound, as John Lewis and Marks & Spencer issue weak Christmas trading updatesCarney: Prompt action possible if growth doesn’t improveJohn Lewis: bonus at risk as profits shrinkJohn Lewis department stores struggled over ChristmasMD Paula Nickolds quits unexpectedlyTesco did better, but M&S struggles 2.38pm GMT Boom! Wall Street has romped to yet another record high, on hopes that the US and Iran have calmed the risk of military conflict.
  
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• Tesco sales win out in subdued Christmas for UK supermarkets

  09-01-2020 15:05
  
  Leading grocer reports small results fall compared with last year at established storesTesco has emerged as one of the winners from a lacklustre Christmas for Britain’s biggest supermarket chains.The festive season is usually a boom time for food retailers as Britons splash out on festive fare but “subdued” consumer confidence has knocked demand this year with Tesco leading the field with a small decline in sales at its established UK stores. Continue reading...
  
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• Dunelm defies high street decline with Christmas sales surge

  09-01-2020 14:18 via retailgazette.co.uk
  
  // Dunelm like-for-like sales jumps 5% to £313m in the 3 months to December 28
  // It transitioned onto a new digital site which hosted more customers during its pre-Christmas trading peak
  // Dunelm now expects annual profits and sales to increase for the full yearDunelm has defined the downturn plaguing the UK retail industry by posting a surge in Christmas sales in its latest trading update.
  The furniture and homewares retailer said like-for-like sales jumped by five per cent to £31
  
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• Naked Wines CEO Rowan Gormley leaves today amid 11% sales rise

  09-01-2020 14:04 via retailgazette.co.uk
  
  // Naked Wines sales up 11% over Christmas trading period ending December 31
  // Nick Devlin has officially replaced Rowan Gormley as the new CEO
  // Gormley first announced his resignation in NovemberNaked Wines has posted sales growth over the peak Christmas trading period, while confirming that today would be chief executive Rowan Gormley’s last day in office.
  The online alcohol retailer said its performance during the 10 week period ending December 31 was in the expected range, with an 1
  
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• Ikea buys west London shopping mall for £170m in city-centre push

  09-01-2020 13:55
  
  Capitalising on bargain prices, Swedish chain thought to be looking for more city centre sites Ikea has bought a shopping centre in west London for £170m and is understood to be looking for more malls in the UK as it makes the most of bargain prices in the crisis-hit retail property market.Hammersmith’s Kings Mall, which opened in 1980 and has 40 shops including H&M, Primark, Sainsbury’s and Wilko, is the Swedish furniture chain’s first shopping centre in the UK and t
  
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• Card Factory slashes profit outlook amid weak Christmas sales

  09-01-2020 13:44 via retailgazette.co.uk
  
  // Card Factory slashed its profit outlook on the back of weak Christmas trading.
  // Like-for-like sales for the 11 months to December declined by 0.6%, accelerating from a 0.1% drop in the same period 2018
  // Card Factory now expects underlying earnings between £81-£83m, a decline from £89.4m last yearCard Factory shares have taken a hit after the retailer slashed its outlook on the back of weak Christmas trading.
  The greeting cards retailer said its performance over the cruci
  
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• What high street shoppers want: more family-run businesses, fewer vape & betting stores

  09-01-2020 12:38 via retailgazette.co.uk
  
  // 67% of people say their high street has declined in the last five years, according to a Nationwide poll
  // 35% want more family-run businesses, a quarter want more bakeries and over a fifth want more butchers’ shops
  // Meanwhile, 31% said they want to see fewer betting shops ^ casinos, and 30% want fewer vaping storesShoppers want to see fewer vaping and betting stores in their local high street and more family-run businesses including bakeries and butchers, a survey has found.
  More tha
  
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• The Christmas retail winners and losers

  09-01-2020 12:33
  
  Find out who fared well and who had a turkey over the crucial festive shopping seasonLike-for-like sales have become the benchmark in the City for judging the current performance of retailers. Typically represented as percentage growth rates, like-for-like sales measure sales at stores that have been open for at least a year, stripping out the impact of sales at newer stores. The idea is that they allow a more transparent comparison of a retailer’s sales performance over a certain period o
  
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• London Designer Outlet sees its best ever trading week during Christmas

  09-01-2020 12:21 via retailgazette.co.uk
  
  // London Designer Outlet’s footfall increased by 2.8% across the two-week Christmas period
  // Total revenue at the outlet was up 11.1%
  // Across the festive period the number of deliveries using the app Dropit increased by 159%Over the festive period, London Designer Outlet in Wembley Park had its best week ever in revenue terms.
  The fashion and lifestyle outlet centre’s total revenue climbed 11 per cent year-on-year and like-for-life revenue, rose by 7.6 per cent year-on-year when
  
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• Pound slides as Bank of England's Mark Carney drops rate cut hint - business live

  09-01-2020 12:00
  
  BoE governor warns that UK economy may not rebound, as John Lewis and Marks & Spencer issue weak Christmas trading updatesCarney: Prompt action possible if growth doesn’t improveJohn Lewis: bonus at risk as profits shrinkJohn Lewis department stores struggled over ChristmasMD Paula Nickolds quits unexpectedlyTesco did better, but M&S struggles 11.00am GMT Mark Carney has managed to send the pound down to a two-week low.Sterling hasn’t been as low as $1.302 since 27 December,
  
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• Alibaba praised by Chinese LGBT communities for depiction of same-sex couples despite government dissuasion

  09-01-2020 11:57 via chargedretail.co.uk
  
  Alibaba is being praised by Chinese gay communities after releasing an advert featuring same sex couples in spite of government dissuasion and censorship.
  In the advert a young man returns from Lunar New Year celebrations to his family home, introducing his male companion as Kelvin, drawing disapproving looks from his father.
  Later, when the family are sat eating dinner, Kelvin refers to his partner’s father as “Dad” causing the family to react in awkward silence.
  Though it is
  
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• Bank of England's Mark Carney drops rate cut hint - business live

  09-01-2020 11:28
  
  BoE governor warns that UK economy may not rebound, as John Lewis and Marks & Spencer issue weak Christmas trading updatesJohn Lewis: bonus at risk as profits shrinkJohn Lewis department stores struggled over ChristmasMD Paula Nickolds quits unexpectedlyTesco did better, but M&S struggles 10.27am GMT Newsflash: Outgoing Bank of England governor Mark Carney has hinted that UK interest rates could be cut soon.Speaking at an inflation targeting conference in London, Carney declared that the
  
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• Marks & Spencer sales hit by too many mince pies and skinny jeans

  09-01-2020 11:22
  
  Shares slide as stock-buying errors and rivals’ Christmas discounts dent performanceMarks & Spencer shares have fallen sharply after its Christmas sales were dented by rivals’ discounts as well as its own buying mistakes after it stocked up on too many men’s skinny jeans.A pickup in trade in M&S food halls over the holiday period helped the high street retailer deliver its first positive quarterly sales in three years but the success of its resurgent food division was o
  
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• Marks & Spencer sales dented by too many mince pies and skinny jeans

  09-01-2020 11:16
  
  Shares fall sharply after Christmas discounting by rivals plus stocking-buying errors hit performanceMarks & Spencer shares have fallen sharply after its Christmas sales were dented by rivals’ discounts as well as its own buying mistakes after it stocked up on too many men’s skinny jeans.A pickup in trade in M&S food halls over the holiday period helped the high street retailer deliver its first positive quarterly sales in three years but the success of its resurgent food div
  
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• Ebay and Facebook pledge to do more to fight fake reviews after CMA pressure

  09-01-2020 11:12 via chargedretail.co.uk
  
  Ebay and Facebook have pledged to do more to tackle fake reviews on their platforms after pressure from the UK’s Competition and Markets Authority (CMA).
  In June the CMA ordered the online platforms to tackle the growing issue of fake reviews after an eight-month investigation found “troubling evidence” of their prevalence.
  Yesterday the pair promised to better identify, probe and respond to fake or misleading reviews on their respective sites.
  Facebook has removed 188 groups a
  
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• John Lewis staff bonus at risk; M&S shares slide – business live

  09-01-2020 10:33
  
  Rolling coverage of the latest economic and financial news, including Christmas trading updates from some of Britain’s biggest retailersJohn Lewis: bonus at risk as profits shrinkJohn Lewis department stores struggled over ChristmasMD Paula Nickolds quits unexpectedlyTesco did better, but M&S struggles 9.33am GMT Marks & Spencer’s Christmas trading woes were partly down to a reckless flirtation with men’s skinny jeans.Clothing sales at M&S stores open more than one
  
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• Jigsaw seeks 30% rent reduction from landlords

  09-01-2020 10:29 via retailgazette.co.uk
  
  // Jigsaw demands 30% rent reduction
  // It has appointed real estate service Colliers International to advise on its property portfolioJigsaw is seeking a 30 per cent rent reduction from its landlords and has asked to delay rent payments in a bid to avoid the high street demise.
  The fashion retailer has appointed real estate service Colliers International to advise on its property portfolio and is reportedly in advanced negotiations at a number of regional locations, Property Week reported.
  The
  
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• John Lewis boss quits as chain warns it may ditch bonus

  09-01-2020 10:18
  
  Department store chain and Waitrose owner says dip in key Christmas sales significantly dented profitsJohn Lewis has warned it could ditch the annual bonus to its 81,000 employees as it revealed another big fall in profits and the departure of its department store boss.Paula Nickolds, who has been at the partnership for 25 years, is stepping down by mutual agreement next month ahead of a previously announced management restructure. She has headed the department store chain for three years, durin
  
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• Pets at Home donates £100,000 to help fight the Australian bushfires

  09-01-2020 10:06 via retailgazette.co.uk
  
  // Pets at Home donates £100,000 to support conservation organisation WWF’s efforts to fight Australian bushfires
  // The bushfires have so far displaced, injured, or killed an estimated 500,000 animalsPets at Home has pledged to donate £100,000 to help fight the Australian bushfires that has so far displaced, injured, or killed an estimated 500,000 animals.
  The retailer has donated the money to conservation organisation WWF (Worldwide Fund for Nature) to support their efforts w
  
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• Pets at Home donates £100,000 to aid Australian bushfire relief efforts

  09-01-2020 10:06 via retailgazette.co.uk
  
  // Pets at Home donates £100,000 to support conservation organisation WWF’s efforts to fight Australian bushfires
  // The bushfires have so far displaced, injured, or killed an estimated 500,000 animalsPets at Home has pledged to donate £100,000 to help fight the Australian bushfires that has so far displaced, injured, or killed an estimated 500,000 animals.
  The retailer has donated the money to conservation organisation WWF (Worldwide Fund for Nature) to support their efforts w
  
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• M&S suffers “disappointing” Christmas period

  09-01-2020 09:39 via retailgazette.co.uk
  
  // Marks and Spencer food sales rise while clothing and home sales drop during Christmas
  // Online clothes sales were lower than expected
  // International sales fell 2.3% to £251 millionMarks and Spencer has reported a “disappointing” Christmas trading period despite its food division making a “standout” performance.
  UK food revenue grew 1.5 per cent to £1.7 billion in the three months to the end of December.
  However, sales in the clothing and home divisi
  
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• Tesco takes lead after Christmas sales rise in “competitive” market

  09-01-2020 09:16 via retailgazette.co.uk
  
  // Tesco sales up 0.1%, marking a fifth consecutive Christmas sales growth
  // The figures put Tesco at the lead so far after both Morrisons and Sainsbury’s posted declining Christmas salesTesco sales in the UK have edged up after a “challenging” festive trading period, marking its fifth Christmas sales growth in a row.
  The Big 4 leader saw sales rise 0.1 per cent in the six weeks to January 4, and said it outperformed a “subdued” market.
  However, in the 19 weeks cov
  
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• Marks and Spencer fails to build on signs of recovery

  09-01-2020 08:55
  Issues with food waste and menswear curtail growth
  
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• Tesco Christmas sales edge up in ‘subdued’ UK market

  09-01-2020 08:53
  Grocer ekes out growth in key region driven by food sales
  
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• John Lewis boss Paula Nickolds exits as sales drop

  09-01-2020 08:44 via retailgazette.co.uk
  
  // John Lewis managing director Paula Nickolds makes exit after sales in the 7 weeks to January 4 drop
  // John Lewis’ like-for-like sales fell by 2.3% to £1.13bn
  // Waitrose saw its sales drop 1.3% to just over £1bn
  // Nickolds is due to leave office in FebruaryJohn Lewis Partnership has seen its managing director of 25 years, Paula Nickolds, step down after the department store revealed its sales in the seven weeks to January 4 dropped.
  John Lewis’ like-for-like sales fe
  
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• John Lewis warns annual bonus at risk for first time in 67 years

  09-01-2020 08:39
  
  Department store chain and Waitrose owner says dip in key Christmas sales significantly dented profitsJohn Lewis has warned it could ditch the annual bonus to its 81,000 employees for the first time in 67 years after suffering another big fall in profits.The retail group, which owns Waitrose supermarkets as well as its namesake department store chain, said it would consider next month whether to make the payout to its workforce after sales fell by 1.8% over the key Christmas period.High street c
  
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• John Lewis could ditch annual bonus for first time in 67 years

  09-01-2020 08:39
  
  Department store chain and Waitrose owner says dip in key Christmas sales significantly dented profitsJohn Lewis has warned it could ditch the annual bonus to its 81,000 employees for the first time in 67 years after suffering another big fall in profits.The retail group, which owns Waitrose supermarkets as well as its namesake department store chain, said it would consider next month whether to make the payout to its workforce after sales fell by 1.8% over the key Christmas period.High street c
  
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• John Lewis warns on profits as key executive quits

  09-01-2020 08:35
  Paula Nickolds to depart after group reports drop in department store sales
  
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• John Lewis reveals tough Christmas trading as key executive exits

  09-01-2020 08:35
  Paula Nickolds to depart after employee-owned group reports drop in department store sales
  
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• John Lewis reveals tough Christmas as key executive exits

  09-01-2020 08:35
  Paula Nickolds to depart after group reports drop in department store sales
  
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• John Lewis staff bonus at risk after Christmas trading blow – business live

  09-01-2020 08:33
  
  Rolling coverage of the latest economic and financial news, including Christmas trading updates from some of Britain’s biggest retailers 7.33am GMT Some instant reaction to John Lewis’s Christmas trading:Amid the flurry of retail results today, John Lewis Partnership is the standout. Group profits will be “significantly” down (raising big questions about partner bonus) while JL managing director Paula Nickolds is to leave. Waitrose did better.Good morning I have come home
  
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• Frugal Christmas shopping hurts annual retail sales

  09-01-2020 01:10
  Sector suffers worst yearly performance after uncertainty hits festive sales
  
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• Frugal Christmas shoppers hurts annual retail sales

  09-01-2020 01:10
  Sector suffers worst yearly performance after uncertainty hits festive sales
  
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• 2019 was UK retail’s worst year ever

  09-01-2020 01:05 via retailgazette.co.uk
  
  // Total sales for 2019 decreased by 0.1%, compared with 1.2% growth in 2018, making it the worst year on record
  // For December alone, sales increased by 1.9% in December, against a flat 0.0% in December 2018
  // Taking November & December together to iron out the Black Friday distortions, total sales declined 0.9% compared with the same period in 2018New data has shown that 2019 was worst year on record for UK retail, as lacklustre sales over the peak Christmas trading period failed to give
  
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• UK retail industry suffered worst year on record in 2019

  09-01-2020 01:01
  
  Job cuts and store closures on ailing high streets pummelled sector in 2019, data showsLast year was the worst on record for British retail, with sales falling for the first time in 24 years as a dire performance on the high street dragged down the industry.Total sales slipped by 0.1% in 2019, according to the British Retail Consortium (BRC) and advisory firm KPMG, the lowest since they began monitoring the sector in 1995. Continue reading...
  
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• Ikea picks London mall to launch city-centre push

  09-01-2020 01:01
  Retailer’s parent Ingka to develop mixed-use sites around new urban stores
  
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• Tesco hails fifth consecutive Christmas of growth

  09-01-2020 01:00 via theretailbulletin.com
  
  Tesco has said it performed well in a “subdued” UK market as it reported a fifth consecutive Christmas of growth. The six weeks to 4 January... View Article
  
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• Sales down at John Lewis & Partners over Christmas trading period

  09-01-2020 01:00 via theretailbulletin.com
  
  The John Lewis Partnership has said that gross sales fell at the John Lewis department store over the Christmas trading period. iIn the seven weeks to... View Article
  
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• One Stop appoints business development manager

  09-01-2020 01:00 via theretailbulletin.com
  
  One Stop has appointed Bill Nelson to the role of business development manager. Nelson has extensive experience in the symbol, wholesale and franchise convenience markets. His... View Article
  
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