Retail news

• Neil Woodford loyalists pay dearly for stock-picker's style drift

  28-01-2020 19:35
  
  Winding up of flagship fund should also be a big lesson for Hargreaves LansdownEscapees from Neil Woodford’s Equity Income Fund worked out for themselves that the once-feted stock-picker was picking a lot of duds. They fled the fund in droves, triggering the liquidity crisis, followed by the suspension of dealings and the eventual winding-up. It is still shocking, though, to see how little Woodford loyalists will get.The first distribution will be 48p-58p, depending on whether investors he
  
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• Third month of flat retail sales as DIY and furniture slump

  28-01-2020 19:24
  
  CBI says sales are ‘poor for time of year’ and weak demand will continue next monthRetailers were denied a post-election bounce in January following a slump in DIY and furniture sales, according to industry figures.The CBI’s monthly distributive trends survey showed that a rise in purchases at department stores failed to offset the effects of weak demand across the high street, translating into a third month in a row of flat sales. Continue reading...
  
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• John Lewis to replace weekly sales updates with twice-yearly ones

  28-01-2020 18:02
  
  Struggling retailer’s weekly data was used by City analysts to gauge high-street conditionsThe struggling John Lewis Partnership is to stop publishing its weekly sales figures and said it would in future provide updates on its trading only every six months.The decision to keep a lid on its sales figures – which have detailed the performance of the department stores and the Waitrose supermarket chain by department compared with the previous two years – comes as the group’s
  
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• Ikea to expand TaskRabbit service to 27 UK sites for “busy” customers

  28-01-2020 17:19 via retailgazette.co.uk
  
  // Ikea will expand its home assembly service across 27 UK sites to help “busy” customers
  // At least 6 locations will have the service made available to them by the end of January
  // The service is in partnership with online marketplace TaskRabbitIkea has announced it is expanding its home assembly service across 27 sites in the UK in a bid to offer customers a more convenient shopping experience.
  The Swedish DIY giant said the service will be launched across six new locations &ndas
  
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• Ikea to expand home assembly service to 27 UK sites for “busy” customers

  28-01-2020 17:19 via retailgazette.co.uk
  
  // Ikea will expand its home assembly service across 27 UK sites to help “busy” customers
  // At least 6 locations will have the service made available to them by the end of January
  // The service is in partnership with online marketplace TaskRabbitIkea has announced it is expanding its home assembly service across 27 sites in the UK in a bid to offer customers a more convenient shopping experience.
  The Swedish DIY giant said the service will be launched across six new locations &ndas
  
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• Big Interview: Hash Ladha, CEO, Oasis & Warehouse

  28-01-2020 14:55 via retailgazette.co.uk
  
  “We continue to innovate in Oasis and Warehouse’s product and brand – I call that my day job. But it’s not an easy day job so I don’t take it for granted.
  When Retail Gazette met Oasis and Warehouse group chief executive Hash Ladha at the tail end of 2019, the UK retail industry had endured yet another difficult year. This was pertinent for the fashion sector, which saw the likes of LK Bennett, Debenhams, Select, Karen Millen & Coast, Forever 21 and Bonmarche fa
  
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• Arlo & Jacob’s new London flagship is its 4th new store in 18 months

  28-01-2020 13:47 via retailgazette.co.uk
  
  // Arlo & Jacob opens its newest showroom at Islington Square, North London
  // The showroom is touted as the furniture retailer’s London flagship
  // It’s also Arlo & Jacob’s 2nd London store, and the 4th new store it has opened in 18 monthsArlo & Jacob has opened the doors to its fourth new store in the space of 18 months.
  The new store, touted as the furniture retailer’s new flagship, is located within Islington Square, North London.
  The 4700sq ft space house
  
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• Arlo & Jacob open London flagship showroom

  28-01-2020 13:47 via retailgazette.co.uk
  
  // Arlo & Jacob opens its newest showroom at Islington Square
  // The showroom will connect customers seeking smart, space-saving furnitureArlo & Jacob has opened the doors to its flagship London showroom at Islington Square.
  The 4,700sq ft. space will house over 65 products including a large collection of hand-made sofas, chairs and accessories with a focus on premium British craftsmanship.
  The showroom will also feature a children’s play house and on-site café.
  Arlo & J
  
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• John Lewis Partnerships posts last ever weekly update amid business changes

  28-01-2020 13:01 via retailgazette.co.uk
  
  // John Lewis Partnership has just published its last ever weekly trading update as the business undergoes a restructure
  // Partnership will move to a new financial reporting structure that won’t split the results of John Lewis & Waitrose
  // For the week ending January 25, the last week of the financial year, John Lewis Partnership sales dropped 1.9%John Lewis Partnership posted its last ever weekly trading update as the company ends its financial year with a significant step forward i
  
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• Physical entertainment retailers must dramatically change their focus to avoid “terminal decline”

  28-01-2020 12:00 via chargedretail.co.uk
  
  Physical entertainment retailers must shift “their focus to other areas of the retail market” to avoid collapse, according to GlobalData.
  In 2019 the physical entertainment retail market, consisting of video, music and games categories, shrunk a further 21 per cent continuing its “terminal decline”.
  As streaming services continue to decimate sales in many categories, GlobalData’s retail analyst Zoe Mills argues that retailers must focus on more sustainable markets a
  
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• Unibail-Rodamco-Westfield achieves top score for climate action

  28-01-2020 11:55 via retailgazette.co.uk
  
  // Unibail-Rodamco-Westfield receives the highest score in the CDP Climate Change assessment
  // The score shows the strength of URW’s CSR Strategy and its commitment to climateUnibail-Rodamco-Westfield (URW) has been highlighted as a global leader on corporate climate transparency and action for a second consecutive year by environmental impact non-profit Carbon Disclosure Project (CDP).
  CDP is an international non-profit that monitors and encourages companies and governments in their effo
  
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• Sainsbury’s CEO Mike Coupe denies exit is over failed Asda merger

  28-01-2020 11:36 via retailgazette.co.uk
  
  // Sainsbury’s CEO Mike Coupe said his exit is not because of the grocer’s failed merger with Asda
  // Coupe will remain in post until the end of MaySainsbury’s outgoing chief executive of six years Mike Coupe has denied claims that his resignation is due to the collapsed £12 billion Asda merger.
  Coupe announced his resignation last week and said he will remain in post until the end of May, after which he will be replaced by current retail and operations director, Simon Ro
  
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• Gap CMO Alegra O’Hare exits after less than a year

  28-01-2020 11:04 via retailgazette.co.uk
  
  // Gap CMO Alegra O’Hare leaves after less than a year at the business
  // CEO Art Peck stepped down in November and shares have dropped 25% since
  // O’Hare had previously spent over a decade at AdidasGap chief marketing officer Alegra O’Hare has stepped down after spending less than a year in the role.
  The resignation follows a strenuous year for the retailer. In May, Gap’s shares plummeted 28 per cent after reporting low first-quarter earnings.
  Its shares dropped a furth
  
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• $400m in Amazon stock offloaded by MacKenzie Bezos

  28-01-2020 10:57 via chargedretail.co.uk
  
  Jeff Bezos’ ex-wife MacKenzie has offloaded around $400 million in Amazon shares.
  The Amazon chief executive handed a four per cent stake of the company to his ex-wife in the world’s most expensive divorce last year, making Bezos the richest woman on earth with estimated wealth of $37 billion.
  She has now cashed in around 200,000 shares, worth around $400 million at the current share price, reducing her shares in the company to around 19.5 million, according the CNBC.
  The news c
  
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• Seasalt cruises with Christmas sales increase in “challenging market”

  28-01-2020 10:45 via retailgazette.co.uk
  
  // Seasalt reported an increase in overall turnover during the Christmas trading period
  // It also saw sales rise across all channels
  // International sales were up 43%Seasalt has seen its sales increase across all channels over the Christmas trading period, despite a “tough and challenging market”.
  The Cornish fashion retailer reported a 14 per cent increase in overall turnover for the five weeks to January 4.
  Sales in stores saw a 15 per cent increase year-on-year, while online sal
  
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• Coronavirus fears impact luxury retail shares as FTSE 100 loses £44bn

  28-01-2020 10:17 via retailgazette.co.uk
  
  // Coronavirus fears affect luxury retail sales
  // FTSE 100 saw £44 billion wiped off of its value
  // Luxury groups such as Louis Vuitton Moet Hennessy (LVMH) and Kering saw their shares dropThe value of the FTSE 100 has dropped by £44 billion and luxury groups have seen their shares drop as coronavirus fears continued to impact trading.
  The new strain of virus in China triggered a market sell-off, with the luxury retail sector among those affected.
  Luxury groups such as Louis Vuitto
  
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• Coronavirus fears impact luxury retail as FTSE 100 loses £44bn

  28-01-2020 10:17 via retailgazette.co.uk
  
  // Coronavirus fears affect luxury retail sales
  // FTSE 100 saw £44 billion wiped off of its value
  // Luxury retail groups such as Louis Vuitton Moet Hennessy (LVMH) & Kering saw their shares dropThe value of the FTSE 100 has dropped by £44 billion and luxury retail groups have seen their shares drop as coronavirus fears continued to impact trading.
  The new strain of virus in China triggered a market sell-off, with the luxury retail sector among those affected.
  Luxury groups such
  
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• UK retail space could shrink by 20%, says British Land CEO

  28-01-2020 10:15 via retailgazette.co.uk
  
  // 1/5 of shops could vanish as high street declines, British Land CEO Chris Grigg warns
  // British Land is seeking to reduce its exposure to retail propertyAround 20 per cent of retail space on high streets around the UK are at risk of being lost, the head of British Land has warned.
  Speaking in an interview for the Leading with James Ashton podcast, British Land chief executive Chris Grigg warned that the troubles facing bricks-and-mortar retailers were far from over.
  He also suggested th
  
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• Retail businesses “in distress” increases, especially online retailers

  28-01-2020 09:39 via retailgazette.co.uk
  
  // 31,615 retailers reported financial distress in Q4 2019 – a 2% year-on-year increase, according to Begbies Traynor
  // Online retail sector on its own saw an 8% year-on-year
  // Overall, the number of businesses in significant financial distress in Dec 2019 had hit 494,000The number of retailers in significant financial distress has has grown year-on-year, according to an influential report.
  Research from corporate restructuring firm Begbies Traynor found that overall, the number of busin
  
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• Intu sells another Spanish shopping centre for £245m

  28-01-2020 09:23 via retailgazette.co.uk
  
  // Intu sells its Intu Austurias centre in Spain for £245.15m as it continues to try and fix its balance sheet
  // Intu Austurias is now owned by ECE European Prime Shopping Centre Fund
  // Intu sold another Spanish shopping centre last month, Intu Puerto Venecia, as part of continued efforts to turn around its fortunesIntu has sold off another one of its Spanish shopping centres as it pushes on with efforts to turn around its fortunes and fix its balance sheet in the UK.
  Intu Aust
  
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• Sainsbury’s invests £1bn to become net zero emissions by 2040

  28-01-2020 08:55 via retailgazette.co.uk
  
  // Sainsbury’s pledges £1bn investment to hit net zero emissions and waste by 2040
  // To be achieved through reducing carbon emissions, food waste, plastic packaging, water usage
  // An increase in recycling, biodiversity and healthy and sustainable eating will also be part of the planSainsbury’s has announced plans to invest £1 billion towards making its operations “net zero” by 2040 – a decade earlier than the UK’s legal goal.
  The Big 4 retailer s
  
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• Sainsbury's in £1bn investment to become carbon neutral by 2040

  28-01-2020 01:01
  
  Retailer’s plans include cutting down on waste and a plastic bottle deposit schemeSainsbury’s has pledged to spend £1bn to become a carbon-neutral business by 2040, 10 years ahead of the government’s target for a net-zero economy.The supermarket chain said the 20-year programme would include cutting its carbon emissions, food waste, plastic packaging and water usage, while increasing recycling, promoting healthy and sustainable eating, and ensuring that its operations are
  
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• Waitrose to roll out book swap scheme in more cafés

  28-01-2020 01:00 via theretailbulletin.com
  
  Waitrose is rolling out a book swap scheme in some of its in-store cafés. Following a successful trial in Waitrose shops in Cheltenham, Hythe, Lincoln, Lyminton... View Article
  
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• Last chance to book for the omnichannel retail conference of the year

  28-01-2020 01:00 via theretailbulletin.com
  
  Don’t miss the chance to snap up one of the last places for Retail Bulletin’s Omnichannel Futures Conference on 5 February where we’ll be talking about... View Article
  
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• JYSK parent company delivers record year

  28-01-2020 01:00 via theretailbulletin.com
  
  JYSK owner Lars Larsen Group has achieved record results with a pre-tax profit uplift of 3.9% to €499 million in its 2018/19 financial year. Turnover was... View Article
  
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• Just Eat agrees new partnership with McDonald’s

  28-01-2020 01:00 via theretailbulletin.com
  
  Just Eat, the marketplace for online food delivery, has agreed a nationwide partnership with McDonald’s in the UK and Ireland. Due to be implemented in 2020,... View Article
  
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• E-Book: The impact of AI in marketing

  28-01-2020 01:00 via theretailbulletin.com
  
  Even if you worked on it 12 hours a day, it’s sometimes impossible to track (and improve) all campaigns at the same time. This is where... View Article
  
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• E-book: How AI can help you run successful campaigns

  28-01-2020 01:00 via theretailbulletin.com
  
  Even if you worked on it 12 hours a day, it’s sometimes impossible to track (and improve) all campaigns at the same time. This is where... View Article
  
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