Retail news

• How the resale revolution is reshaping fashion – video explainer

  20-02-2020 18:24
  
  We're buying more clothes than ever, but it's not all fast fashion. More than half of 25- to 34-year-olds buy secondhand or vintage clothes, and resale apps such as Depop, Stock X and Vestiaire Collective are tapping into the millennial and generation Z market. But if people are buying secondhand they're not buying new. Grace Shutti investigates how the fashion world is responding Continue reading...
  
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• COMMENT: The customer service conundrum for retailers

  20-02-2020 18:18 via retailgazette.co.uk
  
  The last decade has been one of the most turbulent and challenging in recent history for British retailers.
  From John Lewis to Asos, the pressure to cut costs and drive up efficiencies has been intense. The latest edition of the UK Customer Service Index, which we have run since 2008, shows that in the last three years scores have slipped across the board.
  This is the longest continuous run of declining customer service in the history of our index, taking it back to levels last seen in 2015.READ
  
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• Les Wexner sells control of Victoria's Secret amid declining sales

  20-02-2020 18:03
  
  Billionaire who was tied to Jeffrey Epstein said he would step down as chief executive and chairman of L BrandsLes Wexner, the billionaire retailer who made Victoria Secret one of the most famous brands on the planet, has sold control of the troubled lingerie company as it deals with declining sales and the fallout of a scandal involving Wexner’s ties to convicted sex offender Jeffrey Epstein.Wexler, 82, announced on Thursday that he would step down as the chief executive and chairman of L
  
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• Gymshark confirms opening date of first high street store

  20-02-2020 17:40 via retailgazette.co.uk
  
  // Gymshark to open its first ever pop-store in Covent Garden, London
  // The opening date is February 28 and will operate until March 29Gymshark has revealed the opening date of its first-ever high street presence with the opening of a pop-up store in Central London.
  According to a blog post on its website, the first retail-focused store for the online gym and active wear retailer will open on February 28.
  Dubbed GymsharkLDN and located in Long Acre, Covent Garden, the pop-up store will operate
  
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• L Brands sells majority ownership of Victoria’s Secret for £407m

  20-02-2020 16:28 via retailgazette.co.uk
  
  // Victoria’s Secret now majority owned by Sycamore Brands after L Brands sells controlling stake
  // Sycamore Brands will buy 55% of Victoria’s Secret for about $525m (£407 million), and L Brands will keep the remaining 45%
  // L Brands has come under fire because CEO Les Wexner has ties to Jeffrey EpsteinEmbattled lingerie brand and retailer Victoria’s Secret has had a change of hands, with its parent company selling its controlling stake to a private equity firm.
  L Brand
  
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• Retail sales rebound after worst year on record – as it happened

  20-02-2020 16:00
  
  Rolling coverage of business, economics and markets as textiles, clothing and footwear sales drive stronger-than-expected 0.9% improvement
  Economists say election result may have boosted consumer spendingAir France-KLM sees £125m cost from virus; Qantas at £77mLloyds boss António Horta-Osório’s pay falls by 28% as profits dropVictoria’s Secret boss to relinquish control after 57 years at parent co 3.00pm GMT The FTSE 100 is the major holdout across global st
  
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• Farfetch to launch weekly exclusive drops with new ‘Beat’ feature

  20-02-2020 15:59 via chargedretail.co.uk
  
  Farfetch is set to be the latest fashion retailer to launch a weekly ‘drop’ model releasing products from its vast array of luxury brand partners.
  ‘Beat’ will be launched in April offering customers the chance to purchase a curation of exclusive and limited-run products from its 650 boutique partners.
  The drops will take place on the Farfetch App every Wednesday in all of the retailer’s markets and it is understood that some drops will be available through its bouti
  
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• Gift card & voucher sales remain resilient

  20-02-2020 15:36 via retailgazette.co.uk
  
  // UK gift card and voucher sales continue to grow despite adverse trading conditions, the UKGCVA & KPMG finds
  // Leisure continues to increase market share, reinforcing growing consumer preference for experience over products
  // Growth in digital gifting outperformed more traditional physical or paper alternativesGift card sales have remained resilient despite tough trading, as leisure and experience continues to challenge the dominance of traditional retail market share.
  UK gift card and v
  
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• Holland & Barrett launch “clean & conscious” concept store in Birmingham

  20-02-2020 15:34 via retailgazette.co.uk
  
  // Holland & Barrett opens its new beauty concept store in Birmingham
  // The store features product refill stations and an area for live demosHolland & Barrett has launched its first “clean and conscious” beauty concept store in Birmingham.
  Following the success of its sustainability initiatives last year, such as the ban of wet wipes and introduction of zero waste beauty ranges, Holland & Barrett is honing in on consumer demand for more clean beauty.
  Located in Birmingha
  
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• Laura Ashley to raid archives as home furnishing sales plunge

  20-02-2020 15:21
  
  Retailer plans to revive designs of late founder after narrowly avoiding collapse this weekLaura Ashley is to revive the designs of its late founder as part of a turnaround of the loss-making retailer.The company’s new chief executive, Katharine Poulter, said it would raid its extensive archive of designs and fabric prints for inspiration after demand for its curtains and wallpapers plunged more than 20% in the last six months of 2019. “We are listening to our customers and bringing
  
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• Take a seat

  20-02-2020 15:12 via ft.com
  
  From art galleries to fashion studios, the coolest furniture is now sold in unexpected outlets
  
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• How furniture cosied up to fashion

  20-02-2020 15:12 via ft.com
  From art galleries to boutiques, the coolest homewares are now sold in unexpected outlets
  
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• Is your business prepared as fraudsters focus on loyalty programmes?

  20-02-2020 15:00 via retailgazette.co.uk
  
  Is your business prepared as fraudsters focus on Loyalty  Programmes?
  Great news as Forter launches its Loyalty Programme Protection solution to protect  programmes from fraud and abuse, enabling merchants to offer enhanced programmes with the best possible customer experience.
  With an abundance of redemption options, points are almost as liquid as cash and legitimate customer accounts are vulnerable to exploitation. It is estimated that unclaimed rewards are valued at £100
  
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• Conservative majority sent us on a shopping spree? Pull the other one | Larry Elliott

  20-02-2020 13:28
  
  ‘Boris bounce’ theory is disproved by industry, with CBI painting relatively downbeat pictureTills are ringing merrily in the high streets and it is all down to Boris Johnson. Thanks to the prime minister the dark clouds of uncertainty are now scudding away and a grateful nation feels free to start spending again.Really? Sure, there was a chunky rise in retail sales in January but in the latest three months – a better guide to the underlying trend – they were up by just 0
  
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• UK retail sales rebound as shoppers snap up clothing and footwear

  20-02-2020 12:20
  
  Rise of 0.9% in January is likely to persuade Bank of England not to cut interest ratesRetail sales rebounded last month as consumers flocked to buy clothing and footwear in the January sales.The Office for National Statistics said sales increased by 0.9%, reversing a 0.6% decline during December. Continue reading...
  
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• 42% drop in Groupon shares as it announces it will stop selling physical goods

  20-02-2020 12:11 via chargedretail.co.uk
  
  Groupon will no longer sell any physical items as the discount ecommerce marketplace shifts its focus solely onto experiences.
  Rich Williams, the Chicago-based company’s chief executive, announced earlier this week that Groupon will “exit goods” and no longer sell clothing, toys or any other physical goods.
  The news has sent Groupon’s share price divebombing whopping 42 per cent to $1.70.
  Groupon’s marketplace connects with local retailers, restaurants and an array
  
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• Retail sales improve in January after weak end to 2019

  20-02-2020 11:43 via retailgazette.co.uk
  
  // January retail sales by value and volume grew 1.2% & 0.9% respectively on a month-on-month basis, ONS data shows
  // Year-on-year, January retail sales by value and volume grew 2.1% & 0.8% respectively
  // However, retail sales by value and volume fell 0.5% & 0.8% respectively in the 3 months to JanuaryUK retail sales rebounded in January after a week end to 2019, with the so-called “Boris bounce” improving consumer sentiment since since the General Election.
  According t
  
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• In The Style t-shirts raise over £300K in support of Caroline Flack

  20-02-2020 11:21 via retailgazette.co.uk
  
  // In The Style’s Caroline Flack-inspired t-shirts raise over £300,000 for Samaritans
  // The online fashion retailer launched the limited-edition “Be Kind” t-shirt earlier this weekIn The Style has said the t-shirts it launched in support of Caroline Flack – the television presenter who died over the weekend – has raised more than £300,000 for the charity Samaritans.
  The online fashion retailer launched a limited-edition “Be Kind” t-shirt ear
  
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• UK retail sales rebound after longest contraction on record

  20-02-2020 10:58 via ft.com
  Consumer spending rose more than expected in January following a decisive election result
  
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• UK retail gloom eases as spending bounces back

  20-02-2020 10:58 via ft.com
  Consumer spending rises more than expected in January after decisive election result
  
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• Retail sales rebound after worst year on record – business live

  20-02-2020 10:49
  
  Rolling coverage of business, economics and markets as textiles, clothing and footwear sales drive 0.9% improvement
  Air France-KLM sees £125m cost from virus; Qantas at £77mLloyds boss António Horta-Osório’s pay falls by 28% as profits drop 9.49am GMT Textile, clothing and footwear stores recorded the strongest increase among the retail sectors, with volumes up by 3.9% compared to the previous month, the ONS found.Food sales rose by 1.7% month-on-month, counterbal
  
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• Adidas and Puma warn on coronavirus disrupting business

  20-02-2020 10:06 via retailgazette.co.uk
  
  // Adidas sales in China have dropped 85% since January 25
  // Puma has closed over half of its stores in China and now expects an adverse effect on revenues
  // Almost a fifth of the 409 million pairs of shoes and trainers Adidas made in 2018 were produced in ChinaAdidas and Puma have said the coronavirus outbreak has severely disrupted their businesses in China.
  The outbreak has resulted in store closures, with many other retailers temporarily shutting down their stores to ensure staff remain sa
  
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• Adidas & Puma warn on coronavirus disrupting business

  20-02-2020 10:06 via retailgazette.co.uk
  
  // Adidas sales in China have dropped 85% since January 25
  // Puma closed over half of its stores in China and now expects an adverse effect on revenues
  // Almost 1/5 of the 409m pairs of shoes & trainers Adidas made in 2018 were produced in ChinaAdidas and Puma have said the coronavirus outbreak has severely disrupted their businesses in China.
  The outbreak has resulted in store closures, with many other retailers also temporarily shutting down their stores to ensure staff remain safe.
  Adid
  
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• Lidl opens 800th store amidst £1.3bn investment announcement

  20-02-2020 09:56 via retailgazette.co.uk
  
  // Lidl opens its 800th store in Great Britain
  // It opened 50 new stores in the past 12 months, creating more than 2500 new jobs
  // Lidl committed to investing £1.3bn to help reach target of 1000 stores by the end of 2023Lidl has opened its 800th store in Great Britain today as it pledged to invest more than £1 billion to expand over the next two years to help reach its target of 1000 stores by 2023.
  The 800th store milestone comes after the discount grocer opened 50 new stores
  
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• Victoria’s Secret faces backlash for discarding hundreds of bras

  20-02-2020 09:37 via retailgazette.co.uk
  
  // Victoria’s Secret draws criticism for discarding hundreds of bras
  // The bras were found in a bin by a local residentVictoria’s Secret has come under fire for reportedly discarding hundreds of its bras.
  The fashion retailer drew criticism for generating waste when the bras were found in a bin close to a recently closed branch in Colorado, US.
  The bras were found by a local resident, who said the waste will be going to a landfill rather than women’s homeless shelters.READ MOR
  
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• Laura Ashley posts “disappointing” £4m loss

  20-02-2020 09:11 via retailgazette.co.uk
  
  // Laura Ashley losses increase in tough year
  // The loss before tax hit £4m in 2019, up from £1.5m the year before
  // Sales were at £109.6m, which was a decrease of almost 11%Laura Ashley’s losses have widened in a “challenging” year amid growing concerns about its finances.
  In the 26 weeks to December 31, losses before tax widened by 166 per cent to £4 million due to lower home furnishings sales and Brexit uncertainty.
  The company said disruption cause
  
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• Laura Ashley faces “disappointing” £4m loss

  20-02-2020 09:11 via retailgazette.co.uk
  
  // Laura Ashley losses increase in tough year
  // The loss before tax hit £4m in 2019, up from £1.5m the year before
  // Sales were at £109.6m, which was a decrease of almost 11%Laura Ashley’s losses have widened in a “challenging” year amid growing concerns about its finances.
  The loss before tax hit £4 million in 2019, up from £1.5 million the year before. Sales were at £109.6 million, which was a decrease of almost 11 per cent.
  The fashion r
  
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• Airline profits hit in latest sign of coronavirus impact on global economy – business live

  20-02-2020 09:10
  
  Rolling coverage of business, economics and markets as China responds to Covid-19 disruption with new financial stimulusAir France-KLM sees £125m cost from virus; Qantas at £77mLloyds boss António Horta-Osório’s pay falls by 28% as profits drop 8.10am GMT European markets have lost some ground in early trading – aside from in the UK, where the pound is slightly lower.London’s blue-chip FTSE 100 is up by 0.2% to about 7,469 points, while the FTSE 250 ha
  
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• Morrisons to put pressure on Big 4 rivals by selling only free-range eggs

  20-02-2020 08:54 via retailgazette.co.uk
  
  // Morrisons to sell only free range eggs by 2022
  // A fifth of the 10 million eggs it sells each week comes from caged hensMorrisons has revealed plans to sell only free range eggs by 2022 in bid to pressure other grocers into following the initiative.
  Currently, a fifth of the 10 million eggs it sells each week comes from caged hens.
  The initiative means egg producers will need another 334,000 free-roaming hens to meet the demand from Morrisons.READ MORE:Morrisons puts 3000 department manager
  
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• Morrisons puts pressure on Big 4 rivals by selling only free-range eggs

  20-02-2020 08:54 via retailgazette.co.uk
  
  // Morrisons to sell only free range eggs by 2022
  // A fifth of the 10 million eggs it sells each week comes from caged hensMorrisons has revealed plans to sell only free range eggs by 2022 in a bid to pressure other grocers into following the initiative.
  Currently, a fifth of the 10 million eggs it sells each week comes from caged hens.
  The initiative means egg producers will need another 334,000 free-roaming hens to meet the demand from Morrisons.READ MORE:Morrisons puts 3000 department manage
  
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• Nike makes changes to senior leadership team

  20-02-2020 01:00 via theretailbulletin.com
  
  Nike has made a series of changes to its senior leadership team as part of plans to drive growth. The sportswear brand has promoted Heidi O’Neill... View Article
  
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• Lidl celebrates 800th UK store opening

  20-02-2020 01:00 via theretailbulletin.com
  
  Lidl has launched its 800th UK store following the opening of 50 new shops across the country in the past year. The retailer has launched outlets... View Article
  
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• Laura Ashley secures funding lifeline

  20-02-2020 01:00 via theretailbulletin.com
  
  Laura Ashley has announced that it has reached an agreement with US bank Wells Fargo regarding a cash lifeline to cover its immediate funding requirements. Earlier... View Article
  
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• Happy Socks opens another New York store

  20-02-2020 01:00 via theretailbulletin.com
  
  The Happy Socks brand has opened a fifth store in the city of New York. Situated at 863 Broadway, the shop is near to the famous... View Article
  
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• Forever 21 acquired by Authentic Brands, Simon and Brookfield

  20-02-2020 01:00 via theretailbulletin.com
  
  Authentic Brands Group, Simon and Brookfield have come together to acquire the fashion retailer Forever 21. While Authentic Brands and Simon will each own 37.5% of... View Article
  
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• Designer Brands appoints chief growth officer

  20-02-2020 01:00 via theretailbulletin.com
  
  Footwear retail group Designer Brands has appointed Bill Jordan as its chief growth officer. Jordan previously worked as the company’s executive vice president and president, although... View Article
  
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• Axminster Carpets falls into administration

  20-02-2020 01:00 via theretailbulletin.com
  
  Axminster Carpets has fallen into administration following attempts to secure a rescue deal. Benjamin Wiles and Geoff Bouchier of Duff & Phelps have been appointed as... View Article
  
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