Retail news

• Macy’s starry revival plan stirs memories of past failures

  05-02-2020 18:19
  Previous attempts to refresh stores did not arrest US department store chain’s decline
  
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• Macy’s pitches revival plan. Some say it is Groundhog Day

  05-02-2020 18:19
  Previous attempts to refresh its stores have not arrested the US retailer’s decline
  
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• Macy’s investor day? Some say it is Groundhog Day

  05-02-2020 18:19
  Previous revival plans have not arrested the US department store chain’s decline
  
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• OnBuy secures £3m to fund ambitious expansion plans

  05-02-2020 17:58 via retailgazette.co.uk
  
  // OnBuy receives £3m in venture capital funding after finalising a private investment round this month
  // It will use the investment to double its workforce and launch into more than 20 countries this year
  // OnBuy was launched in 2016 by Cas PatonOnBuy has secured a £3 million investment from a leading London-based venture capital fund to help fund its ambitious expansion plans.
  The online marketplace said it plans to use the investment from Fuel Ventures to double its workforce an
  
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• A potential 2% rise in corporation tax could save the high street

  05-02-2020 17:22 via retailgazette.co.uk
  
  // A government-backed report could propose increasing corporation tax by 2% to help retailers
  // The tax rise could help fund a £6bn business rates cut for struggling high streets
  // The Retail Sector Council will reportedly make the recommendation in the coming weeksA government-backed report put together by leading industry figures will reportedly recommend the Treasury to increase corporation tax in order to assist struggling retailers.
  According to Sky News, the document suggests
  
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• Boots’ first UK chair Elizabeth Fagan steps down

  05-02-2020 15:55 via retailgazette.co.uk
  
  // Boots UK non-executive chair Elizabeth Fagan steps down after two years
  // She was the first UK chair for the health and beauty retailer
  // Her departure comes amid privatisation rumours for parent company Walgreens Boots AllianceBoots’ first UK chair Elizabeth Fagan has reportedly stepped down, fuelling speculation that its parent company may be taken private.
  According to Insider Media, Fagan stepped down as Boots non-executive chair to pursue a broader non-executive portfolio.
  S
  
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• M&S appoints Katie Bickerstaffe to chief strategy & transformation director

  05-02-2020 14:56 via retailgazette.co.uk
  
  // Katie Bickerstaffe joins M&S’s executive team as chief strategy and transformation director
  // She is currently a non-executive director on M&S’s board
  // Bickerstaffe replaces Melanie Smith, who is now CEO of Ocado RetailMarks & Spencer has appointed non-executive director Katie Bickerstaffe to chief strategy and transformation director, as the retailer steps up the pace of its turnaround scheme.
  In her new role, Bickerstaffe will be responsible for developing and ove
  
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• Nike the latest retailer to close China stores amid coronavirus fears

  05-02-2020 13:33 via retailgazette.co.uk
  
  // Nike closes half its stores in China temporarily due to coronavirus fears
  // It will operate the remainder of its stores in the country with reduced hoursNike has temporarily shut down half of its stores in China as the coronavirus outbreak continues to raise fears.
  The sportswear retailer will continue to operate the remainder of its stores in the country with reduced hours.
  Nike said it expects a “material impact” on its operations in Greater China in the short term.READ MO
  
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• Nike becomes latest retailer to close China stores as coronavirus strikes

  05-02-2020 13:33 via retailgazette.co.uk
  
  // Nike closes half its stores in China temporarily due to coronavirus fears
  // It will operate the remainder of its stores in the country with reduced hoursNike has temporarily shut down half of its stores in China as the coronavirus outbreak continues to raise fears.
  The sportswear retailer will continue to operate the remainder of its stores in the country with reduced hours.
  Nike said it expects a “material impact” on its operations in Greater China in the short term.READ MO
  
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• Professional roles: Get a well-paying job, but forget uni debt

  05-02-2020 13:15
  
  If you’re looking to enter a highly-skilled profession such as banking, insurance or law, going to university isn’t the only route to a top careerWhen Emily Binge finished A-levels at Pendleton sixth form college in Salford, she did not follow many of her friends who flocked to university. The 21-year-old was in part deterred by the debt she would incur, with undergraduates expected to owe an average of £50,800, according to the IFS. So she chose an apprenticeship at insurance
  
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• Amazon unveils new high-tech electric delivery fleet

  05-02-2020 11:53 via chargedretail.co.uk
  
  Amazon has unveiled its new fleet of electric delivery vans equipped with a range of cutting-edge features like automated emergency breaking and anti-driver distraction technology.
  In September last year Amazon announced that it had purchased 100,000 electric vehicles (EV) from producer Rivian in an effort “to build the most sustainable transportation fleet in the world”.
  The fleet has been custom designed by Amazon with the help of Rivian, and each feature has been informed by Amazo
  
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• LVMH takeover of Tiffany approved “overwhelmingly” by investors

  05-02-2020 10:21 via retailgazette.co.uk
  
  // Tiffany investors give green light to £12.6bn takeover by LVMH
  // The deal was announced in November, and involved LVMH paying £103 per share in cash to acquire TiffanyTiffany shareholders have approved of the €14.7 billion (£12.60 billion) deal that will see the jewellery retailer acquired by French luxury conglomerate and owner of Louis Vuitton, LVMH.
  The deal was initially announced back in November, and involved LVMH paying $135 (£103) per share in cash to acq
  
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• Boxpark in talks to secure investment for rapid expansion plans

  05-02-2020 10:06 via retailgazette.co.uk
  
  // Boxpark reveals further details of its ambitious expansion plans
  // It confirmed it was in “advanced negotiations” with investment partners for a cash injection to drive growth
  // 10 new Boxpark sites proposed: Brighton, Cardiff, Birmingham, Manchester, Liverpool, Leeds, Edinburgh & GlasgowBoxpark has revealed further details of its ambitious expansion plans as it confirmed that it was in “advanced negotiations” with investment partners for a cash injection to driv
  
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• Wilko promotes transformation director to CEO

  05-02-2020 09:42 via retailgazette.co.uk
  
  // Wilko promotes group transformation director to CEO
  // Wilko aims to transform into a more product-focused omnichannel businessWilko has promoted its group transformation director and managing director of the retailer’s online business Jerome Saint-Marc to the role of chief executive.
  Saint-Marc will lead the company as it aims to transform into a more product-focused omnichannel business.
  This marks the first time someone has held the chief executive role at Wilko since Stuart Mitchell
  
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• Poundland Christmas sales rise thanks to Pep&Co concessions

  05-02-2020 08:54 via retailgazette.co.uk
  
  // Poundland Christmas sales rise thanks to Pep&Co clothing concessions
  // Total sales reached £463.1 millionPoundland has seen its Christmas sales rise thanks to its Pep&Co clothing concessions helping drive footfall.
  In the three months ending December, the discount retailer’s like for likes advanced 1.3 per cent.
  Poundland enjoyed its “record trading day” on December 23, Pepco said, as it served almost 1.6 million customers.READ MORE: £3.8bn tak
  
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• John Lewis hires new exec to bolster “Future Partnership” team

  05-02-2020 08:43 via retailgazette.co.uk
  
  // John Lewis Partnership welcomes new executive director of strategy & commercial development
  // Nina Bhatia was formerly the managing director of Hive – a connected home businessJohn Lewis Partnership has appointed Nina Bhatia as the executive director of strategy and commercial development to the newly formed Future Partnership executive team.
  Bhatia will join office on February 17 and will report directly to chairman Sharon White.
  She was formerly the managing director of Hive &nda
  
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• Grieving mother faces shock £24,000 John Lewis card bill

  05-02-2020 08:00
  
  She had just lost her long-term partner when the bill landed for a card with £3,000 limitMy 80-year-old mother has received an inexplicable credit card bill for nearly £24,000. She acquired a John Lewis Partnership card in 2016 with a credit limit of £3,000. In 2017 she set up a direct debit to pay the bills and received monthly statements to show the balance was cleared. In August 2019 her card was suspended. John Lewis investigated, confirmed that it was an error and paid her
  
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• Ebay/ICE: goods exchange 

  05-02-2020 03:30
  The two are odd bedfellows, but the financial exchanges operator could offer fresh ideas
  
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• Event: Customer Experience Exchange for Retail

  05-02-2020 01:00 via theretailbulletin.com
  
  20 – 21 April 2020 | Hilton Syon Park, London CUSTOMER FOCUS AND INNOVATION AT THE HEART OF THE NEW RETAIL PARADIGM The CX Exchange for... View Article
  
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• Macy’s to shut 125 stores in $1.5bn cost-cutting plan

  05-02-2020 00:20
  US department store chain will also lay off 2,000 corporate staff and shut Cincinnati HQ
  
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