Retail news

• Sports Direct puts boot into JD Sports over Footasylum tie-up

  27-02-2020 20:11 via ft.com
  Bitter rival wants competition watchdog to appoint trustee to run disposal process
  
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• Lush offers public free hand washes to halt coronavirus spread

  27-02-2020 18:05
  
  People will be given soap and use of sink at retail chain, with no obligation to buy anythingCoronavirus – live updatesCosmetics chain Lush is opening its doors for passersby to walk in and wash their hands for free as government advice flags better basic hygiene as a way to help halt the spread of coronavirus.Posters are going up in the ethical beauty chain’s windows, advertising what it says is a public service. Those taking advantage of its sinks will be given soap to use and are
  
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• Homebase to exit CVA early after return to profit

  27-02-2020 17:03 via ft.com
  DIY chain has renegotiated most of its store leases, with lower rents accounting for bulk of savings
  
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• Coronavirus: How long will retail be immune?

  27-02-2020 16:36 via retailgazette.co.uk
  
  It’s no secret that retail – along with countless industries – is feeling the heat of the coronavirus outbreak. Many have been forced to close stores in China as a result, while others have already warned on supply shortages.
  With the outbreak largely concentrated in the major commerce hubs of mainland China and now Iran, Italy and South Korea, COVID-19 has already prompted major companies to slash upcoming revenue expectations.
  Many retailers, particularly ones in the luxury s
  
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• Aldi to save 68m pieces of single-use plastic with plastic lid ban

  27-02-2020 13:19 via retailgazette.co.uk
  
  // Aldi looks to save 68m pieces of single-use plastic by removing lids from own-label products
  // From March, own-label fresh cream & ready-to-drink coffee products will not have plastic lids
  // Aldi says removing plastic lids from its large Greek-style flavoured yogurt pots will eliminate a further 34m pieces of plasticAldi has announced plans to remove all plastic lids on its own-label fresh cream and ready-to-drink coffee products, as part of an ongoing campaign to reduce single-use plas
  
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• Emma Mattress annual sales skyrockets 86%

  27-02-2020 12:52 via retailgazette.co.uk
  
  // Emma Mattress books record £125m in full year sales in 2019
  // This equates to an 86% surge on the previous yearEmma Mattress has completed its second financial year of profitability in 2019 with a record €150 million (£125 million) in sales, up 86 per cent year-on-year.
  This compares to Casper, regarded as the closest competitor, where revenue growth in 2019 was estimated to be 20 per cent.
  Founded in 2015, Frankfurt-based Emma Mattress is a direct-to-consumer online retaile
  
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• Harvey Nichols loses its marketing chief and creative agency

  27-02-2020 12:39 via retailgazette.co.uk
  
  // Harvey Nichols’ group marketing and creative director Deborah Bee set to exit
  // The department stores creative agency is also set to departHarvey Nichols’ group marketing and creative director Deborah Bee is set to exit from the department store according to a report.
  The creative agency TBWA\London she appointed two years ago when she joined will also be cutting ties with the retailer.
  According to Campaign Live Bee is leaving in July “to pursue new career opportunities an
  
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• Amazon is developing “neural-network based” chatbots able to produce entirely original dialogu

  27-02-2020 12:22 via chargedretail.co.uk
  
  Amazon is testing the first commercial “neural-network based” chatbot able to produce completely original and natural sounding language.
  The retailer is developing two separate neural-network chatbots, one consumer-facing chatbot to answer customer queries and another to help its staff respond to requests more easily and focus on those requiring human judgement.
  Most chatbots on the market today run by referring to a vast list of automated responses and are able to recognise simple r
  
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• TK Maxx owner “very proud” to surpass annual sales of £30bn

  27-02-2020 11:59 via retailgazette.co.uk
  
  // TK Maxx owner reports Q4 net profit of £754m
  // Annual sales came in at £31.9bn
  // Net income was £2.52bnTK Maxx’s parent company TJX Companies has reported an increase in net profits in the fourth quarter, thanks to “increased customer traffic at all four major divisions”.
  For the 52-week fiscal year ending February 1, revenues for the group – which also operates homeware retailer Homesense – were up 10 per cent to $12.2 million (£9.32 mi
  
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• Online fashion retailer Zalando pushes into luxury clothing sector

  27-02-2020 11:26 via ft.com
  Europe’s largest such group pledges to double offer from premium brands such as Moschino
  
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• Ted Baker hires ex-HMV finance boss as interim CFO

  27-02-2020 11:03 via retailgazette.co.uk
  
  // Ted Baker appoints former HMV group finance director as interim CFO
  // David Wolffe was the group finance director at HMV from 2011 to 2012
  // He joined Ted Baker at the end of January from Genius SportsTed Baker has drafted in the former HMV group finance director David Wolffe as the new interim chief financial officer.
  Wolffe was the group finance director at HMV from 2011 to 2012, where he was responsible for bank refinancings and syndicate management, investor relations, shareholder
  
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• Pureplay online purchase produce twice as much greenhouse gas as going in-store yourself

  27-02-2020 10:39 via chargedretail.co.uk
  
  Bricks-and-clicks retailers provide the most environmentally friendly way to shop, ahead of both purchasing from pureplay online retailers and going in-store yourself.
  Greenhouse gas (GHG) emissions were found to be lowest when shopping for fast-moving-consumer-goods (FMCG) by retailers that have both physical and online stores, according to a new report published in Environmental Science and Technology this week.
  The report identified three key ways of shopping: traveling to
  
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• Intu credit extension secured

  27-02-2020 10:38 via retailgazette.co.uk
  
  // Intu secures extension on credit facility with its lenders
  // 7 of its existing banks will provide the £440 million revolving credit facilityIntu has agreed to an extension on its credit facility with its lenders on the condition that it can raise a total of £1.3 billion equity.
  The shopping centre owner’s new £440 million revolving credit facility (RCF) will be provided by all seven of its existing banks.
  It is due to replace its £660 million facility which expi
  
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• Target raised wages. Then it cut workers' hours and doubled their workload

  27-02-2020 10:00
  
  Workers say Target is making drastic cuts to their schedules and doubling their workload as it increases minimum wage under its ‘modernization plan’ to increase efficiencyAdam Ryan, 31, has worked at Target in Christiansburg, Virginia, for three years. He works additional jobs whenever he’s able to, but is regularly scheduled only 20 hours per week at Target, despite having open availability.“I have to live with my family because I can’t afford rent on my own. I don
  
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• Zalando revenue tops £5bn as it prepares second-hand launch

  27-02-2020 09:47 via retailgazette.co.uk
  
  // Zalando revenue for full-year reaches £5.5bn
  // The retailer gained an additional 4.6m users over the period
  // It achieved ”record-breaking results during Cyber Week”Zalando has seen its full-year sales and profits increase amid preparations to launch a second-hand range.
  The online retailer’s revenue grew 20.3 per cent to €6.5 billion (£5.5 billion) for the 2019 financial year, after gaining 4.6 million more active customers.
  Gross merchandise volume rose
  
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• Topps Tiles issues profit warning

  27-02-2020 09:46 via retailgazette.co.uk
  
  // Topps Tiles warns that profits will fall “materially below” forecasts after continued tough trading
  // It said adjusted profit before tax will be between £13.5m-£14.5m, compared to last year’s £16m
  // Like-for-likes in the eight-week period to February 22 slid 5.5%Topps Tiles has warned that its full-year profit before tax will be “materially below” expectations after it continued to endure tough trading.
  The flooring retailer said it has not ye
  
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• Walmart begins talks to sell stake in Asda

  27-02-2020 09:27 via retailgazette.co.uk
  
  // Walmart confirms it is in talks to sell stake in Asda
  // Walmart has been attempting to sell Asda for nearly two years – including its failed £12bn merger with Sainsbury’s
  // It is understood Walmart would retain a significant minority stake in Asda in any saleThe US-based parent company of Asda has started discussions with investors to sell a stake in the UK supermarket.
  Bosses at Walmart are thought to be in early stage talks with a handful of private equity funds.
  A joint
  
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• Homebase returns to profit earlier than expected

  27-02-2020 09:13 via retailgazette.co.uk
  
  // Homebase returns to profit earlier than forecast – £3.2m profit for 2019 vs 2018 loss of £114.5m
  // Like-for-like sales grew 2.6% and nearly all stores are profitable again
  // Proposed completion of CVA is 18-months ahead of planHomebase returned to profit earlier than forecast as its turnaround plan has successfully made the majority of stores profitable again amidst an increase in like-for-likes.
  For the year ending December 29, the home and DIY retailer delivered a £
  
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• Coffee alone won't transform a former pit town – but it can inspire people | Adrian Chiles

  27-02-2020 08:00
  
  A roastery in a coalshed is bringing punters from far and wide to Ammanford in Wales. Such ambition must surely spur on othersI get to travel around the UK a lot, forever celebrating commercial life outside the big cities. On Monday morning, I found encouragement in Ammanford, Carmarthenshire. It was raining hard on this small former pit town. The last of the collieries closed in 2003 and it has been looking for another purpose ever since. Over the road from Lidl and the police station is a plac
  
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• Coffee alone won't transform a former pit town – but it can inspire people

  27-02-2020 08:00
  
  A roastery in a coalshed is bringing punters from far and wide to Ammanford in Wales. Such ambition must surely spur on othersI get to travel around the UK a lot, forever celebrating commercial life outside the big cities. On Monday morning, I found encouragement in Ammanford, Carmarthenshire. It was raining hard on this small former pit town. The last of the collieries closed in 2003 and it has been looking for another purpose ever since. Over the road from Lidl and the police station is a plac
  
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• Zalando grows customer numbers to record level

  27-02-2020 01:00 via theretailbulletin.com
  
  Zalando has revealed that a record number of 31 million customers ordered from its website in 2019. This helped the online fashion retailer to grow its gross... View Article
  
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• Topps Tiles warns on profit

  27-02-2020 01:00 via theretailbulletin.com
  
  Topps Tiles has warned that its first half pre-tax profit will be significantly below what was achieved in the same period in the previous year. In... View Article
  
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• Olivia’s acquires Houseology

  27-02-2020 01:00 via theretailbulletin.com
  
  Olivia’s has stepped in to save online luxury furniture and homewares retailer Houseology following its collapse into administration. Part of The Moot Group, Olivia’s has acquired... View Article
  
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• Homebase returns to profit

  27-02-2020 01:00 via theretailbulletin.com
  
  Homebase made a return to profit ahead of plan in 2019 with an EBITDA profit of  £3.2 million compared with a loss of £114.5 million in... View Article
  
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• Capital & Regional appoints new chairman

  27-02-2020 01:00 via theretailbulletin.com
  
  Shopping centre owner Capital & Regional has appointed David Hunter as non-executive chairman. Hunter will take up his role at the conclusion of the company’s AGM... View Article
  
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