Retail news

• Boohoo’s margin: less sustainable than its model?

  14-01-2020 19:58
  Online retailer has bet on celebrity collaborations but profitability is hurting
  
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• Warhammer TV series in pipeline as Games Workshop sales soar

  14-01-2020 19:27
  
  Fantasy-figure seller’s shares hit record high as franchise goes from strength to strengthGames Workshop is hoping to replicate the success of hit fantasy TV shows such as The Witcher with a new series based on its Warhammer 40,000 tabletop game.As the high-street fantasy-figure seller’s shares hit an all-time high, the company said a series based on the Eisenhorn books, set in the game’s dystopian universe, was in development. The novels follow the adventures of the Imperial I
  
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• Karren Brady: as a feminist, I couldn’t carry on working for Philip Green

  14-01-2020 19:22
  
  Businesswoman resigned from the board of tycoon’s retail empire in February 2019Karren Brady, the businesswoman star of television’s The Apprentice, has said she resigned from the board of Sir Philip Green’s retail empire because the allegations being made against the high street tycoon were incompatible with being a feminist.The comments come almost a year after Lady Brady had resisted calls to sever her links with Green following claims that the businessman had sexually haras
  
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• Boohoo worth more than M&S after Christmas sales surge

  14-01-2020 18:37
  
  Fashion firm enjoys record trading as Marks & Spencer teeters near junk statusThe stock market value of the online fashion firm Boohoo has overtaken Marks & Spencer thanks to strong Christmas sales, while M&S was warned it faces a possible downgrade in its investment rating to junk status.Sales at Boohoo jumped 44% in the weeks before 25 December, while M&S suffered fresh setbacks. Last week the high street stalwart revealed it had bought too many tight-fitting jeans and chinos.
  
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• Former BHS owner ordered to pay £9.5m into pensions

  14-01-2020 18:03
  Dominic Chappell battled for 3 years to have action quashed
  
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• Games Workshop ‘in great shape’ as shares hit record high

  14-01-2020 17:43
  Fantasy games retailer posts record figures boosted by US and strength of Warhammer
  
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• Debenhams sets new sustainability targets for the 2020s

  14-01-2020 16:43 via retailgazette.co.uk
  
  // Debenhams sets new sustainability targets as part of new programme
  // The new targets are built on the progress it has made in the last year
  // In 2019, Debenhams reduced the packaging it uses by 22%Debenhams has unveiled its new sustainability programme to highlight new benchmarks for UK department store retailing in the 2020s.
  The department store chain said its new targets are built on the progress it has made in the last year.
  Last year, Debenhams reduced the packaging it uses by 22 per c
  
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• Walpole launches its British Luxury Sustainability Manifesto

  14-01-2020 16:39 via retailgazette.co.uk
  
  // Walpole launches its sustainability manifesto to guide its members and suppliers towards sustainable practices
  // The UN aligned manifesto will cover the safeguarding of the environment and natural resources as well as working conditions.The body for the UK luxury industry Walpole has partnered up with British luxury retailers Burberry, Dunhill, Harrods, Johnstons of Elgin, Mulberry and The Savoy to establish British luxury as a leader in sustainability.
  Walpole, which counts over 270 hi
  
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• Big Interview: Jace Tyrrell, CEO, New West End Company

  14-01-2020 16:30 via retailgazette.co.uk
  
  For someone at the helm of a business partnership comprising 600 British and international retailers, restaurateurs, hoteliers and property owners in central London – which turns over almost £10 billion each year – Jace Tyrrell appears calm and collected.
  New West End Company’s members are all based in the based in the beating heart of the West End, anchored by Bond Street, Oxford Street and Regent Street. When Retail Gazette caught up with Tyrrell in the weeks leading up
  
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• Experiential retail will be “tipping point” in 2025 – Westfield

  14-01-2020 16:04 via retailgazette.co.uk
  
  // Westfield owner releases “How We Shop” report discussing the next decade
  // More than half of retail space in stores will be dedicated to providing experiences
  // The report was accumulated from surveys of 15,700 consumers across 10 countries in EuropeThe parent company of Westfield has released its “How We Shop” report discussing the “biggest retail trends to date”.
  Unibail-Rodamco-Westfield predicted in the report that more than half of retail space in st
  
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• Former BHS owner ordered to pay £9.5m to pension schemes

  14-01-2020 14:26
  
  Dominic Chappell told court he was facing bankruptcy and unable to pay fine or shortfallThe disgraced entrepreneur Dominic Chappell has been ordered to pay £9.5m into BHS pension schemes after his appeal failed.Chappell, a former bankrupt with no retail experience, bought the chain from billionaire Sir Philip Green for £1 in 2015. But it crashed 13 months later, leaving a pensions hole of up to £571m. Continue reading...
  
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• M&S’ credit score plunges into the negative

  14-01-2020 14:04 via retailgazette.co.uk
  
  // Moody’s lowers M&S’ credit rating from stable to negative
  // The change follows M&S’ recent trading report, which recorded a decline across Clothing & Home like-for-like salesMoody’s has downgraded Marks and Spencer’s credit rating from stable to negative following a strenuous year for the retailer.
  The influential credit ratings agency confirmed M&S’ Baa3 senior unsecured ratings and its long-term (P)Baa3 senior unsecured MTN Program rating
  
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• Ex-BHS owner Dominic Chappell ordered to pay £9.5m to pension schemes

  14-01-2020 13:32 via retailgazette.co.uk
  
  // Ex-BHS owner Dominic Chappell to pay £9.5m to pension schemes
  // The Pensions Regulator ordered the bankrupt business to pay after the conclusion of an appeals process
  // BHS collapsed in 2016, leading to 11,000 job lossesDominic Chappell has been ordered to pay £9.5 million to collapsed department store chain BHS’ pension schemes.
  The businessman who bought BHS from Sir Philip Green for only £1 in March 2015, was ordered to pay the pension schemes by The Pensions Regu
  
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• Chow Tai Fook looks at closing a number of Hong Kong stores

  14-01-2020 13:15
  Months of protests hit tourist numbers and spending in Asian financial hub
  
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• Chow Tai Fook looks at closing a fifth of Hong Kong stores

  14-01-2020 13:15
  Months of protests hit tourist numbers and spending in Asian financial hub
  
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• John Lewis Partnership weekly sales drop 3.8%

  14-01-2020 13:08 via retailgazette.co.uk
  
  // John Lewis Partnership’s overall sales declines 3.8% in week ending January 11
  // Waitrose weekly sales down 2.5%
  // John Lewis weekly sales slides 5.8%John Lewis Partnership has recorded a decline in weekly sales despite growing demand around Veganuary and Dry January and another week of Clearance sales.
  For the week ending January 11, overall sales for the parent company of John Lewis and Waitrose dropped 3.8 per cent year-on-year, from £212.47 million to £204.38 mill
  
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• DFS shares slip as half-year sales fall 6%

  14-01-2020 12:47 via retailgazette.co.uk
  
  // DFS posts gross sales decline of 6% in the 26 weeks to December 29
  // Retailer said August and September last year were particularly challenging
  // DFS expects annual profits are set to remain “broadly” on track despite the drop amid difficult retail conditionsDFS has said annual profits are set to remain “broadly” on track despite a drop in half-year sales amid difficult retail conditions.
  The furniture retailer posted a six per cent fall in gross sales for the six mo
  
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• Lidl expected to launch UK online shop this year

  14-01-2020 11:28 via chargedretail.co.uk
  
  Lidl could soon launch an online delivery service in the UK initially delivering wine, spirits and non-food items to shoppers across the country.
  The German discounter is understood to be exploring a partnership with logistics giant iForce, which is thought to already handle some of the retailer’s inventory services, according to The Grocer.
  IForce, part of the Eddie Stobart group, already handles logistics for Tesco, John Lewis and Waitrose in the UK, suggesting Lidl is likely to be
  
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• Icon Outlet bucks trend with footfall & spending growth over Christmas

  14-01-2020 11:14 via retailgazette.co.uk
  
  // Like-for-like sales grew by 39% during the Christmas period at the ICON Outlet
  // Destination footfall at the outlet also increased by 34%ICON Outlet at The O2 has revealed its like-for-likes sales jumped by 39 per cent during the festive period from December 23 to January 5.
  The 210,000sq ft premium urban outlet developed by AEG and Crosstree Real Estate Partners, also benefited from a 34 per cent spike in footfall.
  Across the period like-for-like performance growth spanned across stores, wi
  
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• Games Workshop half-year profits surge 44%

  14-01-2020 09:57 via retailgazette.co.uk
  
  // Games Workshop pre-tax profit for the half-year to December 1 rose 44% to £58.6m
  // Half-year sales rose 19% to £148.4m
  // Sales in December were also in line with expectationsGames Workshop has hailed record sales and profits in its half-year report and was upbeat about its Christmas performance, as it continued to defy the challenges plaguing the retail sector.
  For the six months to December 1, the miniature wargames retailer said its pre-tax profit rose 44 per cent year-on-year
  
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• The Fragrance Shop sales rise during “popular” Black Friday

  14-01-2020 09:42 via retailgazette.co.uk
  
  // The Fragrance Shop sales up 1.2% in the 7 weeks to January 4
  // Online revenues up 17%The Fragrance Shop has revealed a surge in online sales during Black Friday thanks to its click and collect offering.
  In the seven weeks to January 4, sales were up 1.2 per cent, with online revenues increasing by 17 per cent.
  The retailer said its click and collect orders jumped 40 per cent and Black Friday was “increasingly popular”.READ MORE: The Fragrance Shop to open over 15 Sniff Bars&
  
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• Boohoo to surpass forecasts after 44% jump in quarterly revenues

  14-01-2020 09:31 via retailgazette.co.uk
  
  // Boohoo on track to surpass profit and revenue forecasts for the year
  // It posted a 44% jump in revenues to £473.7m for the 4 months to December 31
  // Boohoo said it was pleased with growth across its core brands as well as recently acquired Karen Millen, Coast & MissPap
  // Meanwhile, Brian Small is appointed deputy chairman of the board with immediate effectBoohoo is on track to surpass profit and revenue forecasts for the year after it posted another set of impressive results
  
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• HMV says 5 stores at risk of shutting down will now stay open

  14-01-2020 09:04 via retailgazette.co.uk
  
  // The 10 store closures HMV recently warned of has now been reduced to 5, after securing new deals with landlords
  // Of the 5 remaining stores at risk of closure, 2 have been confirmed to shut down at the end of January
  // The remaining 3 remain at risk of closure unless a new deal with landlords is reachedFive HMV stores which had been at risk of closing will now remain open after the music retailer was able to secure new agreements with landlords.
  However, the five other stores out of the ori
  
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• Boohoo worth more than M&S after sales upgrade

  14-01-2020 08:50
  Online fashion retailer’s shares rise to record high as growth outstrips rivals
  
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• Boohoo upgrades sales forecast after strong end to year

  14-01-2020 08:50
  Online fashion retailer sticks its head above crowd by predicting 40 per cent revenue growth
  
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• Boohoo upgrades forecasts after strong end to year

  14-01-2020 08:50
  Revenues will be 40 per cent higher than in 2019
  
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• Greggs has baked in responsible capitalism

  14-01-2020 06:00
  Charity work and staff profit-shares show others how ethical business can reap rich rewards
  
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• Sellers asked to choose between Alibaba and Pinduoduo

  14-01-2020 05:00
  Merchants say China’s ecommerce giant pushes them off its Tmall platform if they use rival
  
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• Ashley’s Frasers Group calls for business rates reform

  14-01-2020 05:00
  Distortion of transitional relief is hurting UK high street, says letter to PM
  
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• The Fragrance Shop reports ‘robust’ Christmas trading

  14-01-2020 01:00 via theretailbulletin.com
  
  The Fragrance Shop has reported “robust” trading over the festive period with total sales rising by 1.2%. In the seven weeks to 4 January, like-for-like sales... View Article
  
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• ICON Outlet celebrates bumper Christmas trading

  14-01-2020 01:00 via theretailbulletin.com
  
  ICON Outlet at The O2, the 210,000 square foot outlet centre developed by AEG and Crosstree Real Estate Partners, saw its like-for-like sales climb by 39%... View Article
  
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• Graze launches £1m campaign to promote 45% reduced sugar protein bites

  14-01-2020 01:00 via theretailbulletin.com
  
  Healthy snacking brand Graze has launched a £1 million campaign to promote its ongoing sugar reduction initiative. The multichannel campaign is Graze’s biggest January promotion to... View Article
  
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• Boohoo hails strong Christmas performance

  14-01-2020 01:00 via theretailbulletin.com
  
  Boohoo grew its revenue by 44% to £473.7 million in the four months to 31 December. Revenue at the Boohoo fashion brand was up 42% to... View Article
  
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• Acquire (and retain) 30% more customers in 2020

  14-01-2020 01:00 via theretailbulletin.com
  
  Consumers trust their friends’ recommendations more than any other source – including their partner, parents or influencers – yet many brands are missing out on these... View Article
  
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