Retail news

• From batteries to shutters: Australian firms eye potential coronavirus shortages

  21-02-2020 20:00
  
  Hospitality and travel have already been hard hit, while there are concerns of looming shortages of products such as iPhones and batteriesWith the coronavirus outbreak in China affecting the import and export trade, Australian retailers and suppliers are concerned that consumers will soon start experiencing shortages of products ranging from iPhones to batteries. There are widespread factory shutdowns in China as millions of people remain in lockdown and subject to strict travel restrictions and
  
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• Hammerson/Intu: under the hammer

  21-02-2020 17:20 via ft.com
  Portfolio sale puts the former in less precarious position than rival mall owner — but only just
  
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• 1000 shoplifting crimes a day & 52% go unpunished, new research shows

  21-02-2020 16:59 via retailgazette.co.uk
  
  // UK retailers recorded 359,156 incidents of shoplifting in 2019
  // This equates to around 1000 per day
  // 52 per cent of the reported incidents go unpunishedNew research has shown that the retail sector is plagued with 1000 shoplifting incidents per day, and more than half of them reportedly go unpunished.
  Analysis of police data by Checkpoint Systems has revealed that UK retailers recorded 359,156 incidents of shoplifting in 2019, which equated to almost 1000 per day.
  While 52 per cent of the
  
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• Feather & Black on the brink of a change of hands

  21-02-2020 16:01 via retailgazette.co.uk
  
  // Feather & Black is about to have new owners
  // Rcapital in advanced talks to buy it for a nominal sum and a dowry from Hilding Anders
  // It comes after Hilding Anders rescued Feather & Black out of administration in Dec 2017Feather & Black is reportedly on the brink of new ownership less than two and a half years after it last underwent a change of hands.
  According to Sky News, turnaround investment firm Rcapital is in advanced talks to buy the furniture retailer for a nominal sum
  
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• Hammerson offloads seven UK retail parks for £455m

  21-02-2020 15:00
  
  Property group exits sector in attempt to cut £3bn debt and guard against high street crisisHammerson has offloaded its out-of-town retail parks for £455m as it looks to reduce its £3bn debt pile and shield itself from the high street crisis.The property group, which owns the Bullring shopping centre in Birmingham, is selling seven sites, including Elliott’s Field in Rugby and the Cyfarthfa park in Merthyr Tydfil, to the London-based private equity firm Orion for £4
  
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• Hammerson offloads nine UK retail parks for £455m

  21-02-2020 15:00
  
  Property group exits sector in attempt to cut £3bn debt and guard against high-street crisisHammerson has offloaded its out-of-town retail parks for £455m as it looks to reduce its £3bn debt pile and shield itself from the high-street crisis.The property group, which owns the Bullring shopping centre in Birmingham, is selling seven sites, including Elliott’s Field in Rugby and the Cyfarthfa park in Merthyr Tydfil, to the London-based private equity firm Orion for £4
  
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• Harrods security staff halt strike plans

  21-02-2020 13:44 via retailgazette.co.uk
  
  // Harrods security staff halt plans to strike on five separate dates
  // It follows a dispute where guards  and CCTV staff said they were being underpaid
  // Staff have now suspended their plans following renewed contact talks with the retailerSecurity staff at Harrods have halted plans to strike at the historic London department store following a pay dispute.
  Strike action by security guards and CCTV operators was due to take place at the retailer’s famous Knightsbridge store from Sat
  
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• 80 jobs cut as Axminster Carpets falls into administration

  21-02-2020 13:33 via retailgazette.co.uk
  
  // Axminster Carpets has fallen into administration, leading to 80 job losses
  // The website is operating as per normal as administrators continue to seek a buyer for the heritage firmAxminster Carpets has fallen into administration after attempts to secure a rescue deal, leading to the loss of 80 jobs.
  Benjamin Wiles and Geoff Bouchier of Duff & Phelps were appointed as joint administrators of the 265-year-old business earlier this week.
  It marks the second time Axminster Carpets has gone i
  
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• Coronavirus fears affect luxury retail during major fashion weeks

  21-02-2020 13:01 via retailgazette.co.uk
  
  // Coronavirus outbreak continues to impact luxury sector
  // LVMH, Kering & Richemont are not as reliant on China for manufacturing but still predicted to face pressure
  // China has driven 80% of the growth at luxury groups such as LVMH and KeringThe luxury industry has faced its biggest threat since the 2008 financial crisis thanks to the coronavirus outbreak in China.
  As many as 1000 Chinese fashion buyers from Europe’s top fashion shows have reportedly held off from participating in
  
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• Online retail sales kicks off 2020 on a flat note

  21-02-2020 12:03 via retailgazette.co.uk
  
  // Online sales fall flat in January following late 2019 surge
  // Online sales for the month dipped 0.4% after surprising upturn in November & December
  // January’s online sales falls well below the 3, 6 & 12-month averages of 8.9%, 6% & 5.5% respectivelyAfter a surprisingly strong end to 2019, hopes of a continuation of such growth into 2020 were dashed last month when online retail sales dipped 0.4 per cent year-on-year.
  According to the latest IMRG Capgemini Online Retail In
  
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• Controversial live facial recognition tech scans shoppers on Oxford Street

  21-02-2020 10:59 via chargedretail.co.uk
  
  Live facial recognition technology has been employed by London’s Metropolitan Police in a second major shopping location.
  Oxford Street, the UK’s busiest shopping destination, yesterday became the latest target of the Met’s live facial recognition CCTV camera, scanning anyone who walks past to find “people who are wanted for violent and other serious crimes”.
  This controversial technology was deployed last week outside Westfield Stratford shopping centre and receive
  
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• £1bn development will see Oxford Street with more homes than shops

  21-02-2020 09:54 via retailgazette.co.uk
  
  // Developers set to transform Oxford Street into a residential area
  // The street attracts 4 million shoppers each week
  // There are currently  9 new developments on or around the street that will deliver nearly 500 homesLondon’s Oxford Street is set to be transformed into a residential area in a bid to have more homes than shops.
  The busy shopping street, which attracts as much as four million visitors a week, is currently undergoing a £1 billion building development, The Time
  
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• Boris Johnson considers axing network of business councils

  21-02-2020 09:33 via retailgazette.co.uk
  
  // Many business leaders might have to renounce their roles as advisers to the PM as part of a shake-up
  // The network of 5 business councils led by private sector bosses including Tesco’s Dave Lewis
  // The PM has reportedly made no attempt to reactivate the network following the general electionDowning Street officials are reportedly seeking to overhaul the network of five business councils set up in November 2018 by Prime Minister Boris Johnson’s predecessor, Theresa May.
  The netwo
  
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• Hammerson offloads 7 retail parks in £400m deal

  21-02-2020 09:04 via retailgazette.co.uk
  
  // Hammerson to sell 7 retail parks, after separately disposing of 2 other locations
  // The company has been cutting debt and fixing its balance sheetHammerson has said it will sell seven retail parks to private equity Orion for £400 million as it faces a tough trading environment in the UK.
  The sale includes retail parks such as the Forge Shopping Park in Telford and Cleveland Retail Park in Middlesbrough.
  The shopping centre operator has been cutting debt and fixing its balance
  
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• Bonmarché acquired by Philip Day’s Peacocks

  21-02-2020 08:19 via retailgazette.co.uk
  
  // Bonmarche rescued by Philip Day’s Peacocks
  // Day has now acquired the majority of Bonmarché’s assetsBonmarché has reportedly been sold to Edinburgh Woollen Mill Group’s (EWM) Peacocks, following months of speculation.
  The retailer, owned by Philip Day, has now acquired the majority of Bonmarché’s assets, including stock and around 200 stores, Drapers reported.
  However, a deal on the rest of its store has not yet been completed.READ MORE:Bonmarch&e
  
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• Coronavirus wreaks havoc on luxury and fashion groups

  21-02-2020 06:00 via ft.com
  Fashion shows streamed online to isolated customers, but fears remain for supplies and sales in key market
  
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• Hammerson disposes of retail parks portfolio

  21-02-2020 01:00 via theretailbulletin.com
  
  Hammerson, the owner of the Westquay and Bullring shopping centres, has exchanged contracts on the sale of seven retail parks to Orion European Real Estate Fund... View Article
  
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