Retail news

• 'More high street job losses ahead' as budget cuts small firms' rates

  11-03-2020 20:59
  
  Rishi Sunak accused of ignoring big retailers already facing coronavirus and online rivalsKey points from budget 2020 – at a glanceA fresh round of high street bloodletting is expected after major chains, who are closing stores and shedding jobs, were overlooked by emergency business rates cuts.The government took the major step of scrapping bills for small business owners including shops, restaurants and nightclubs in the coming year so their finances would be better able to cope with cor
  
  Read more

• Adidas and Puma sales collapse in China amid coronavirus outbreak

  11-03-2020 17:58
  
  Sportswear brands say disruption is spreading with major sporting events in doubt
  Coronavirus – latest updatesAdidas and Puma have reported a collapse in sales in China as a result of the coronavirus outbreak and warned disruption was spreading to other markets.Adidas said its first-quarter sales would be down by as much as €1bn (£870m) in Greater China and about €100m in Japan and South Korea. The slump would lead to a €400m-€500m hit to operating profit, it said
  
  Read more

• No recession is inevitable but things can turn bad fast. Here's how to tell if stimulus is working | Greg Jericho

  11-03-2020 17:30
  
  If we have a downturn, economic horror can be managed. We just need to forget about using GDP to measure it With the talk of a recession in full swing, we should get a few things out of the way.Firstly, no recession is inevitable, so let’s put an end to such talk right now. You want a recession, then start reporting and saying that we will probably have a recession.Greg Jericho writes on economics for Guardian AustraliaContinue reading...
  
  Read more

• China’s Pinduoduo braced for losses linked to coronavirus outbreak

  11-03-2020 16:57
  Ecommerce site’s shares hit after fourth-quarter revenue growth falls short of forecasts
  
  Read more

• Advertisement

• Tesco’s Jack’s boss Lawrence Harvey departs for Barclays

  11-03-2020 16:10 via retailgazette.co.uk
  
  // The boss of Tesco’s discount chain Jack’s Lawrence Harvey has left to join banking giant Barclays
  // He will lead Barclays’ operations in the South and South East regions
  // Harvey will be replaced by business support director Sarah LawlerTesco’s Jack’s discount chain has revealed that its co-founder Lawrence Harvey will be leaving his role as managing director, to lead Barclays.
  Harvey has held executive roles at Co-op, Aldi and Tesco.
  He will join the banking g
  
  Read more

• Budget 2020: Business rates for small retailers abolished for 1 year

  11-03-2020 16:07 via retailgazette.co.uk
  
  // Business rates for small retailers will be abolished for the next financial year, as unveiled in today’s Budget
  // Chancellor Rishi Sunak said this applies to retailers with a rateable value of less than £51,000
  // However, Sunak failed to mention any reform of the controversial regime of business rates as a wholeThousands of small and independent retailers are set to enjoy some financial respite after the government revealed it would abolish business rates for them in the next fi
  
  Read more

• Adidas shares drop on €1bn coronavirus hit to sales

  11-03-2020 16:00
  Sportswear maker says first-quarter profit will suffer but customers will return
  
  Read more

• Morrisons cuts prices on hundreds of products in supermarket battle

  11-03-2020 13:57
  
  Company says reductions are not a gimmick and more are planned for the coming weeksMorrisons has cut the price of more than 500 everyday groceries including beef mince, coffee and biscuits as it battles to climb out of a sales slump.Recent industry figures showed Morrisons was the worst-performing member of the “big four” supermarkets amid an exodus to the fast-growing discounters Aldi and Lidl. Continue reading...
  
  Read more

• Advertisement

• Morrisons cuts prices on hundreds of items in supermarket battle

  11-03-2020 13:57
  
  Retailer says reductions are not a gimmick as it plans further cuts in coming weeksMorrisons has cut the price of more than 500 everyday groceries including beef mince, coffee and biscuits as it battles to climb out of a sales slump.Industry data shows Morrisons is the worst-performing member of the big four supermarkets amid an exodus to the fast-growing discounters Aldi and Lidl. Continue reading...
  
  Read more

• The Very Group reveals search for new interns

  11-03-2020 13:56 via retailgazette.co.uk
  
  // The Very Group launches internship programme to find people to join the business
  // The group has offered 10 placements in tech & data, marketing, financial services and fashion designThe Very Group has launched an internship programme to find suitable interns to join the business this autumn.
  The British online retailer, which owns Very, Littlewoods and Shop Direct, has offered 10 placement opportunities in tech and data, marketing, financial services and fashion design for undergraduate
  
  Read more

• MatchesFashion launches Responsible Edit

  11-03-2020 13:52 via retailgazette.co.uk
  
  // MatchesFashion launches its Responsible Edit – promoting brands making mindful decisions around design or production.
  // Research showed that almost 70% of MatchesFashion customers try to live their lives as sustainably as possibleThe luxury online fashion retailer MatchesFashion has launched “The Responsible Edit” where customers can discover brands sharing their commitment to responsible and ethical practices.
  The edit was created out of the retailers continued f
  
  Read more

• EssilorLuxottica’s deal for GrandVision draws EU scrutiny

  11-03-2020 13:36
  Regulators are asking the Europe’s independent opticians if they have concerns
  
  Read more

• Amazon removes Down’s syndrome t-shirts after backlash

  11-03-2020 13:34 via retailgazette.co.uk
  
  // Amazon has been criticised for selling “hate crime” t-shirts
  // The ecommerce giant removed the “Let’s Make Down Syndrome Extinct” t-shirts on Wednesday
  // Twitter users discovered the t-shirts on the website and took a screengrab to post on social mediaAmazon has received backlash for selling clothing labelled “Let’s Make Down Syndrome Extinct”.
  The ecommerce giant was condemned by users who took to social media to express concerns over the slo
  
  Read more

• A pint with a side of grocery shopping: Lidl to open first in-store pub

  11-03-2020 13:06 via retailgazette.co.uk
  
  // Lidl confirms plans to open its first pub in one of its supermarkets
  // Lidl requested planning permission for the pub at the Dundonald store, near Belfast in Northern Ireland
  // Lidl plans to run the pub beside the store but it will have a separate entranceLidl has revealed plans to open its first on-premises pub after it submitted planning permission for one of its stores in Northern Ireland.
  The German discount grocer confirmed that it wants to run the pub beside the Dundonald store, near
  
  Read more

• Debenhams seeks CEO to oversee restructuring after Sports Direct challenge fails

  11-03-2020 12:59
  
  Under the reorganisation, at least £100m of ailing retailer’s £600m-plus of debt will be converted to equityDebenhams is searching for a new chief executive as it presses ahead with plans to cut its debts after a legal challenge backed by Mike Ashley’s Sports Direct drew to a close. The financial restructuring will result in at least £100m of the ailing department store chain’s £600m-plus of debt being converted to equity.Stefaan Vansteenkiste, the chief
  
  Read more

• Debenhams seeks CEO to oversee restructure after legal challenge fails

  11-03-2020 12:59
  
  Ailing retailer to proceed with plan to tackle £600m debt after opposition from Sports Direct
  Debenhams is searching for a new chief executive as it presses ahead with plans to cut its debts after a legal challenge backed by Mike Ashley’s Sports Direct drew to a close. The financial restructuring will result in at least £100m of the ailing department store chain’s £600m-plus of debt being converted to equity.Stefaan Vansteenkiste, the chief executive, said: “T
  
  Read more

• Debenhams goes for restructure as Mike Ashley legal challenge fails

  11-03-2020 12:59
  
  At least £100m of ailing retailer’s £600m-plus of debt will be converted to equityDebenhams is to press ahead with a financial restructure to cut its debts after a legal challenge backed by Mike Ashley’s Sports Direct drew to a close.The restructure will result in at least £100m of the ailing department store chain’s £600m-plus of debt being converted to equity. Continue reading...
  
  Read more

• International retail sector launches post Covid-19 recovery plan

  11-03-2020 12:15 via retailgazette.co.uk
  
  // AIR works together with businesses & Government to ensure that the policy and economic environment allows international retail in the UK to grow
  // AIR’s purpose is to help retailers throughout the UK enhance their sales to international visitorsThe newly formed Association of International Retail (AIR) has unveiled an action plan to help the international retail sector recover economically once Covid-19 has been contained.
  Retailers across the UK are suffering from a drop in Chines
  
  Read more

• International retail sector launches post-coronavirus recovery plan

  11-03-2020 12:15 via retailgazette.co.uk
  
  // Association of International Retail works with businesses & government to ensure the international retail in the UK grows
  // Its purpose is to help retailers throughout the UK enhance their sales to international visitors after coronavirusThe newly formed Association of International Retail (AIR) has unveiled an action plan to help the international retail sector recover economically once the coronavirus has been contained.
  Retailers across the UK are suffering from a drop in Chinese visi
  
  Read more

• International retail sector launches pos-coronavirus recovery plan

  11-03-2020 12:15 via retailgazette.co.uk
  
  // Association of International Retail works with businesses & government to ensure the international retail in the UK grows
  // Its purpose is to help retailers throughout the UK enhance their sales to international visitors after coronavirusThe newly formed Association of International Retail (AIR) has unveiled an action plan to help the international retail sector recover economically once the coronavirus has been contained.
  Retailers across the UK are suffering from a drop in Chinese visi
  
  Read more

• Sainsbury’s spent £52m on ads after failed Asda merger

  11-03-2020 10:49 via retailgazette.co.uk
  
  // Sainsbury’s spent £52m on ads last year after its deal with Asda collapsed
  // The cash was spent on magazine, newspaper, radio and TV advertsSainsbury’s has reportedly spent £52 million on advertising in the past year to persuade consumers to shop at its stores, after its £12 billion merger with Asda collapsed.
  The Big 4 grocer said the cash was spent on magazine, newspaper, radio and TV adverts, hiking its spending by 82.6 per cent from just £28.4 mil
  
  Read more

• Sainsbury’s spends £52m on ads after failed Asda merger

  11-03-2020 10:49 via retailgazette.co.uk
  
  // Sainsbury’s spent £52m on ads last year after its deal with Asda collapsed
  // The cash was spent on magazine, newspaper, radio and TV advertsSainsbury’s has reportedly spent £52 million on advertising in the past year to persuade consumers to shop at its stores, after its £12 billion merger with Asda collapsed.
  The Big 4 grocer said the cash was spent on magazine, newspaper, radio and TV adverts, hiking its spending by 82.6 per cent from just £28.4 mil
  
  Read more

• Debenhams CVA now free from legal challenges as appeal period ends

  11-03-2020 10:14 via retailgazette.co.uk
  
  // Appeal period for a landlord legal challenge has concluded in Debenhams’ favour
  // The appeal was brought forward by CPC, after their initial challenge was rejected by the High Court in September
  // The news means the means the entirety of the CVA challenge process is now concludedDebenhams has announced that all relevant procedural matters dealt with at a CVA legal challenge hearing in February have concluded in its favour.
  The legal challenge pertains to an appeal brought forward by t
  
  Read more

• Coronavirus: Ex-Sainsbury’s CEO Justin King warns of grocery shortages

  11-03-2020 09:57 via retailgazette.co.uk
  
  // Sainsbury’s former CEO Justin King warns grocers of likely shortages due to coronavirus outbreak
  // King said many fresh food production systems are dependent on labour on a day-to-day basisM&S’s non-executive director Justin King has reportedly called on grocers to prepare for likely shortages in their supply chain, provided that the coronavirus outbreak escalates.
  King, the former chief executive of Sainsbury’s, said sudden and large-scale reductions in staff woul
  
  Read more

• B&M sells loss-making German fascia Jawoll for £10.8m

  11-03-2020 09:24 via retailgazette.co.uk
  
  // B&M offloads controlling stake in German retailer Jawoll for €12.5m (£10.8m)
  // B&M had put Jawoll last November after it wrote down the value of its 89 stores
  // Jawoll made a loss of £15.4m in the year to March 31, 2019B&M announced to the City this morning that it has completed the sale of its German retail business five months after opening a strategic review into its performance.
  The discount retailer said its 80 per cent controlling stake in Jawoll was sold
  
  Read more

• GMB union warns on changes to inflation rates ahead of Budget

  11-03-2020 08:53 via retailgazette.co.uk
  
  // GMB union warns that any change to the RPI could leave millions of workers and pensioners out of pocket
  // Proposals on the future of the RPI are expected to be announced by Chancellor Rishi Sunak in the Budget today
  // The GMB has thousands of members in the retail sectorA trade union that represents thousands of workers across retail has voiced fears that changes to inflation rates could leave millions of workers and pensioners out of pocket.
  Proposals on the future of the Retail Prices Ind
  
  Read more

• The Oasis and Warehouse Group makes two senior promotions

  11-03-2020 01:00 via theretailbulletin.com
  
  The Oasis and Warehouse Group has promoted Warehouse managing director Paula Stewart to the newly created role of chief product officer. Stewart joined Warehouse in 1994... View Article
  
  Read more

• Oasis and Warehouse Group makes two senior promotions

  11-03-2020 01:00 via theretailbulletin.com
  
  The Oasis and Warehouse Group has promoted Warehouse managing director Paula Stewart to the newly created role of chief product officer. Stewart joined Warehouse in 1994... View Article
  
  Read more

• IKEA launches store on Alibaba’s Tmall

  11-03-2020 01:00 via theretailbulletin.com
  
  IKEA has opened a flagship store on Alibaba’s Tmall platform as it looks to make its products more accessible to consumers in China. The move marks... View Article
  
  Read more

• Converse to launch genderless clothing collection

  11-03-2020 01:00 via theretailbulletin.com
  
  Converse is to launch its first genderless apparel collection this summer. Called Shapes, the range will include a set of five core pieces in four sizes.... View Article
  
  Read more

• Coach chief executive to depart business

  11-03-2020 01:00 via theretailbulletin.com
  
  Coach, the luxury accessories brand, has announced that its chief executive and brand president Joshua Schulman is to leave the business after a transition period. Furthermore,... View Article
  
  Read more

Follow @retailuknws on Twitter!