Retail news

• Simon Property to buy rival mall owner Taubman in $3.6bn deal

  10-02-2020 20:35 via ft.com
  Transaction comes as shopping centre group also closes in on Forever 21 deal
  
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• 5 minutes with Harry Pickering, Head of UK Retail, Schroder Real Estate Fund

  10-02-2020 17:00 via retailgazette.co.uk
  
  The Lexicon at Bracknell is one of your retail assets. How has that scheme been performing since it opened in late 2017?
  The Lexicon is performing well despite the tricky retailing headwinds, helping Bracknell to rise from 255th to 26th in the country’s retail rankings in less than three years.
  Schroders incorporates Bracknell Town Centre in its entirety, giving us the ability to provide a safe, traffic-free public realm centre and various office/residential developments, which work well a
  
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• Tesco drops Chinese supplier after forced labour allegations

  10-02-2020 15:40 via retailgazette.co.uk
  
  // Tesco delists Chinese supplier after accusations of forced prison labour
  // South London schoolgirl Florence Widdicombe found a note after an inmate smuggled out an anonymous message
  // The note urged the finder to contact Peter Humphrey, a British journalist & former fraud investigator who was imprisoned at the same prisonTesco has delisted a Chinese supplier following accusations of forced prison labour in manufacturing Christmas cards.
  The cards were produced at Zhejiang Yuanguang
  
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• Tesco drops Chinese supplier

  10-02-2020 15:40 via retailgazette.co.uk
  
  // Tesco delists Chinese supplier after accusations of forced prison labour
  // South London schoolgirl Florence Widdicombe found a note after an inmate smuggled out an anonymous message
  // The note urged the finder to contact Peter Humphrey, a British journalist & former fraud investigator who was imprisoned at the same prisonTesco has delisted a Chinese supplier following accusations of forced prison labour in manufacturing Christmas cards.
  The cards were produced at Zhejiang Yuanguang
  
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• Kingfisher finalises exec team with new chief appointment

  10-02-2020 15:12 via retailgazette.co.uk
  
  // Kingfisher completes group executive team with chief people officer appointment
  // Kate Seljeflot will join on March 23 from Costa Coffee
  // Group chief supply chain officer Martin Lee and CEO of Kingfisher Romania Adela Smeu also join the group exec teamKingfisher has appointed Kate Seljeflot to the post of chief people officer, finalising its executive team.
  Seljeflot is currently the chief people officer at Costa Coffee, the coffeehouse chain owned by Coca-Cola.
  She will join office on Mar
  
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• Trafford Centre owner Intu confirms talks over £1bn cash call

  10-02-2020 15:11
  
  Property company, which also owns Lakeside in Essex, in talks with Hong Kong groupShares in Intu Properties jumped on Monday after the company behind shopping centres including the Trafford Centre in Manchester and Lakeside in Essex confirmed it is in talks with investors over an emergency cash call.The debt-laden firm said it was “engaged in constructive discussions with shareholders”, including its largest shareholder Peel Group, and new investors including the Hong Kong-based Link
  
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• Retailer’s New Customer Loyalty Drivers

  10-02-2020 15:00 via retailgazette.co.uk
  
  Discover the secrets for driving loyalty in 2020
  Capturing the hearts, minds and long-term spend of customers today takes more than a traditional loyalty scheme.
  The best brands and retailers are taking new approaches to customer retention, thinking outside the box to encourage their customers to return often and spend more.
  Produced in collaboration with Retail Gazette, our report explores this theme in more depth and reveals how your brand can build a base of loyal, long-term customers.
  Topics
  
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• Supermarket ‘dark stores’ dealing with online-only orders are “the future model of grocery in the UK”

  10-02-2020 14:58 via chargedretail.co.uk
  
  UK supermarkets are increasingly converting shop floor space into areas for online order fulfilment in their largest branches as rents continue to rise.
  ‘Dark stores’, areas attached to supermarkets which deal specifically with online order fulfilment, are “the future model of grocery in the UK” according to Supermarket Income REIT.
  Supermarket Income REIT, which owns five Tescos, three Sainsbury’s and one Morrisons, has said that it will only invest in ‘omnic
  
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• Angling Direct CEO Darren Bailey exits

  10-02-2020 11:41 via retailgazette.co.uk
  
  // Angling Direct CEO Darren Bailey steps down after 3 years
  // He was previously the MD
  // Andy Torrance will replace BaileyAngling Direct chief executive Darren Bailey has stepped down after three years at the helm.
  Dailey has been in the business for 17 years, having previously served as the managing director, before being promoted to chief executive in 2017.
  The fishing retailer has appointed Andy Torrance replace Bailey.READ MORE: Angling Direct hires Steven Crowe as CFO
  Angling D
  
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• Beales reveals locations of 12 stores due for closure

  10-02-2020 11:24 via retailgazette.co.uk
  
  // Beales to shutter 12 stores
  // The stores will remain open for about 8 weeks to sell remaining stockBeales administrators have confirmed that they are preparing to close a number of stores across the UK.
  Will Wright and Steve Absolom of KPMG were appointed as joint administrators following Beales’ collapse in January.
  The administrators are now set to close 12 stores after attempts to sell all 23 of the retailer’s outlets proved unsuccessful.READ MORE: Beales: What went wrong
  
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• Selfridges launches Hurr fashion rental pop-up

  10-02-2020 11:23 via chargedretail.co.uk
  
  Hurr Collective, the fashion rental app, has launched its first ever physical pop-up in Selfridges as it secures investment from New Look’s founder.
  Selfridges today launched its Hurr pop-up, set to run for six-months, featuring a collection of 200 curated pieces available for customers to rent for between four and eight days at a time.
  Unlike other fashion rental services such as Rent the Runway, Hurr is a peer-to-peer platform which allows users to both lend and rent clothes from each ot
  
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• Asos CEO Nick Beighton raises stake after successful Christmas

  10-02-2020 10:46 via retailgazette.co.uk
  
  // Asos CEO Nick Beighton increased stake after successful Christmas period
  // Asos’ total revenue rose to £1.11 billion in the four months to December 31
  // Beighton purchased 1629 shares in Asos for just over £49,800 after the reportAsos group chief executive Nick Beighton has increased his stake in the company after it reported a strong Christmas trading period.
  Despite disappointing first-half results in March and a profit warning in July, Asos’ total revenue, includi
  
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• Intu in talks with major Hong Kong-based investor to cut £5bn debt

  10-02-2020 10:06 via retailgazette.co.uk
  
  // Intu is in discussions with a leading Hong Kong-based retail property investor to pay down debt
  // The shopping centre owner said talks have taken place with Link Real Estate Investment Trust
  // Link and Intu held “constructive discussions”Intu has confirmed it is talks with a major Hong Kong-based retail property investor in a bid to pay down its £5 billion debt pile.
  The shopping centre owner behind Lakeside and Trafford Centre said talks have taken place with Link Real Es
  
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• KPMG reports 5% rise in administrations

  10-02-2020 09:54 via retailgazette.co.uk
  
  // KPMG reports rise in administrations to over 1,400 in 2019
  // 420 firms fell into insolvency in the third quarter alone
  // Figures come as retailers face delay in business rates relief due to government computer glitch affecting 75 local authoritiesThe number of firms falling into administration across England and Wales rose nearly five per cent to more than 1,400 in 2019.
  Accountancy firm KPMG tallied the number of insolvency notices posted in the London Gazette, revealing 1,403 companies we
  
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• Selfridges managing director Simon Forster exits

  10-02-2020 09:32 via retailgazette.co.uk
  
  // Selfridges’ managing director leaves after just over a year in the position
  // Predecessor Anne Pitcher has stepped in as interim bossThe managing director of upmarket department store Selfridges has left after a little more than a year in the role.
  Simon Forster left abruptly last week, according to The Sunday Telegraph, which cited a loss in confidence in his leadership as a reason behind the departure.READ MORE: Selfridges posts another record year of salesWhile Selfridges said Forst
  
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• WHSmith joins retailers renegotiating with landlords over rate payments

  10-02-2020 09:17 via retailgazette.co.uk
  
  // WHSmith will look to switch from payments in advance to payments in arrears
  // Retailer’s high street performance over Christmas saw sales drop 5%
  // WHSmith joins Next, Sports Direct and River Island in turning the pressure over to landlords to help high street woesWHSmith is considering asking landlords to allow its rents to be paid in arrears.
  The book, magazine and stationery retailer has around 300 leases coming up for renewal.
  According to The Sunday Times, WHSmith will ask landlo
  
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• Calls for watchdog to review KPMG’s £58m Ted Baker accounting scandal

  10-02-2020 08:45 via retailgazette.co.uk
  
  // Accounting experts call for watchdog to review Ted Baker’s overstatement of stock
  // Figure rose from £25 million to £58 million after Deloitte reviewed KPMG’s accounting
  // Calls come as Financial Reporting Council announced raft of changes at the watchdogExperts have called for the Financial Reporting Council (FRC) to investigate KPMG after it overestimated Ted Baker’s stock by £58 million.
  The figure originally stood at £25 million, but in January
  
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• Calls for watchdog to review KPMG’s £53m Ted Baker accounting scandal

  10-02-2020 08:45 via retailgazette.co.uk
  
  // Accounting experts call for watchdog to review Ted Baker’s overstatement of stock
  // Figure rose from £25 million to £58 million after Deloitte reviewed KPMG’s accounting
  // Calls come as Financial Reporting Council announced raft of changes at the watchdogExperts have called for the Financial Reporting Council (FRC) to investigate KPMG after it overestimated Ted Baker’s stock by £53 million.
  The figure originally stood at £25 million, but in January
  
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• Rise in number of UK companies entering administration

  10-02-2020 07:01
  
  Construction and retail badly hit as 1,400 firms went into administration last yearThe number of firms collapsing into administration across England and Wales rose by nearly 5% to more than 1,400 last year, according to the accountancy firm KPMG.Brexit uncertainty and economic turmoil created a particularly tough year for the building and construction industry, while the real estate and property sector also suffered, it found. The demise and ongoing restructuring of a large number of high street
  
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• Waitrose to launch charm offensive as Ocado switches to M&S

  10-02-2020 07:00
  
  Supermarket will launch thousands of new and revamped products aiming to retain online customersWaitrose is to launch thousands of new and revamped products in the coming months as the battle for the hearts and minds of Ocado shoppers moves up a gear.The supermarket’s deal with the online grocer will finish at the end of August, when it will be replaced by Marks & Spencer. The switchover is high risk for all the brands involved: Ocado risks losing loyal Waitrose shoppers while the supe
  
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• Pursuit of Tesco assets puts Thai families under scrutiny

  10-02-2020 01:01 via ft.com
  Any deal for UK grocer’s Thailand business will add to already sizeable retail operations
  
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• Shopping centre footfall rises for first time in three years

  10-02-2020 01:00 via theretailbulletin.com
  
  Retail footfall declined by just 0.5% year-on-year in January as shopping centre footfall rose for the first time in three years. The figures from retail insights... View Article
  
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• Marks & Spencer extends check-out free experience to more stores

  10-02-2020 01:00 via theretailbulletin.com
  
  Marks & Spencer has expanded its Mobile Pay Go technology to more stores as it look to offer more shoppers a check-out free experience. The service... View Article
  
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• JML’s vision: Video, ‘dataism’ and Amazon’s customer experience problem

  10-02-2020 01:00 via theretailbulletin.com
  
  Guest content by Retail Connections: We’ve all seen them, JML’s aisle-end concessions in Asda, Boots and Robert Dyas (to name but a few), showing looped product demos... View Article
  
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• Help, I need somebody! Service excellence drives sales in footwear retailing

  10-02-2020 01:00 via theretailbulletin.com
  
  Shoppertrak Guest Blog: Footwear brands have impressively kept pace with customer needs in 2019 and are therefore treading a path of growth. Currently worth over US$... View Article
  
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