Retail news

• Coronavirus triggers sharp rise in price of pain relief medication

  12-03-2020 20:40
  
  Shortage of raw materials drives up cost of aspirin, ibuprofen and paracetamol by up to 30% Coronavirus – latest newsThe cost of over-the-counter pain relief medication has jumped in the UK as drugmakers demand price increases on the back of raw material shortages triggered by the coronavirus outbreak.High street retailers and pharmacies confirmed that the cost of sourcing paracetamol, ibuprofen and aspirin had all risen sharply in recent weeks, in some cases by as much as 30%, as drugs wh
  
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• Big Interview: Nathan Ansell, Marketing Director, M&S Clothing & Home

  12-03-2020 16:37 via retailgazette.co.uk
  
  If anyone can provide a glimpse of hope in light of Marks & Spencer’s recent series of lacklustre trading updates, it’s Nathan Ansell – the marketing director for its embattled clothing and home division.
  Ansell, who joined the retailer as head of brand in 2011, insists that M&S has seen its clothing arm “change enormously for the better” over the last 18 months. He believes the pace of the organisation has increased substantially since he joined, with
  
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• Coronavirus prompts Poundland owner to postpone flotation

  12-03-2020 15:54
  
  Retail and stock market volatility and illness of boss Andy Bond cited as reasonsCoronavirus – latest updatesPoundland’s owner Steinhoff International is postponing a potential sale or flotation of its European arm amid uncertainty relating to coronavirus and the unrelated illness of boss Andy Bond.Pepco Europe, which has about 2,000 stores including Poundland in the UK and the Pepco and Dealz chains in Europe, was expected to finalise a takeover deal or IPO later this year after Ste
  
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• Coronavirus: Italy lockdown forces retailers to close doors

  12-03-2020 15:41 via retailgazette.co.uk
  
  // Retailers in Italy face store closures due to lockdown prompted by coronavirus outbreak
  // While the UK has not implemented such dramatic measures, the market remains precariousRetailers in Italy have seen their stores shut as the coronavirus outbreak continues to affect the country’s trading.
  Due to Italy’s lockdown measures put into action earlier this week to prevent the spread of the virus, retailers, boutiques, department stores and multi-brand establishments have been forced
  
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• UK government to impose 2% digital services tax

  12-03-2020 15:05 via retailgazette.co.uk
  
  // Government confirms launch of digital services tax to collect 2% of online revenues in UK
  // The tax will be introduced on April 1
  // HMRC said it could result in as much as £515m in additional annual incomeThe UK government will introduce a digital services tax to collect two per cent of revenue generated by companies such as Amazon.
  Although it was not mentioned during Chancellor Rishi Sunak’s speech, the government confirmed the tax will be introduced on April 1.
  HMRC said it c
  
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• Moss Bros to be taken private in £22m deal

  12-03-2020 15:01
  Menswear chain once valued at £250m cites coronavirus as factor in agreeing sale
  
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• UK shopper preferences – data study available now

  12-03-2020 15:00 via retailgazette.co.uk
  
  Is free delivery or are free returns more important to British shoppers? Which payment methods are most preferred? What are the biggest bugbears that turn off UK customers?
  To answer this and much more, Magento commissioned a research study with YouGov in 2019. Over 18,000 respondents from 15 countries were asked to share the factors that affected their online retailer preferences, and also their viewpoints on data sharing, environmental policies and new technologies.
  This report exami
  
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• Trafford Centre and Lakeside owner warns it could go bust after £2bn loss

  12-03-2020 14:49
  
  Intu writes down asset values amid severe retail downturnIntu Properties, the owner of shopping malls including the Trafford Centre in Manchester and Lakeside in Essex, has warned it could collapse if it is unable to raise further funds.The struggling shopping centre giant posted a loss of £2bn for 2019, up from £1.17bn the year before. A spate of retailer administrations and restructurings forced Intu to write down the value of its centres by nearly £2bn. The estimated value o
  
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• Chanel publishes climate change plan Mission 1.5°

  12-03-2020 14:34 via retailgazette.co.uk
  
  // Chanel launches its commitment to tackle climate change – Mission 1.5°
  // The initiative will see Chanel reduce its carbon footprint and that of its supply chain,Chanel has published a new sustainability initiative to directly address climate change and the role the luxury fashion label and retailer can play in lowering its carbon footprint.
  Named Chanel Mission 1.5 derived from the Paris Climate Agreement, which set out to limit the planet’s mean global temperature increase t
  
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• Inditex begins remote working to prevent spread of coronavirus

  12-03-2020 13:58 via retailgazette.co.uk
  
  // Inditex has implemented remote working across its HQ in Artexio in reaction to the coronavirus
  // The retailer has temporarily closed its on-site gym and bus services at its Galician HQThe Spanish fashion retailer Inditex has started to implement remote working in reaction to the ongoing coronavirus outbreak.
  FashionNetwork.com reported that the retailer is implementing remote working as much as possible at its HQ in Arteixo, A Coruña.
  Other measures taken by the retailer include the t
  
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• Travelex owner's shares fall 65% due to coronavirus impact

  12-03-2020 13:52
  
  Finablr says global travel restrictions are limiting its ability to access cash Shares in the embattled owner of Travelex have crashed 65% after the firm warned the coronavirus outbreak was impacting its ability to access enough cash to keep the foreign currency business running smoothly.Finablr said travel restrictions meant to limit the spread of Covid-19 had hurt demand for its foreign currency services and impacted the transport of physical cash that was essential for its business. Continue
  
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• Storms & coronavirus outbreak prompt record low footfall in February

  12-03-2020 13:42 via retailgazette.co.uk
  
  // Record low for footfall as shoppers avoid February rain & Covid-19, according to Ipsos Retail Performance
  // Average weekly footfall in non-food stores sunk by 14.2% year-on-year and by 23% compared to January
  // Hardest hit stores were in Northern England and the MidlandsFebruary saw “unprecedented” record lows in retail footfall as a series of major storms and the outbreak of coronavirus kept shoppers at home.
  According to the latest Retail Traffic Index from Ipsos Retail Pe
  
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• On the UK’s high streets, coronavirus poses a special kind of threat | Tom Grindrod

  12-03-2020 13:11
  
  If retail workers like me work sick, then you get sick. But not going to work can mean not paying the rentIt’s a strange time to be working at a prominent high-street fashion retailer. For many in the UK, this week has been one of self-isolation: staying away from work, stocking up on essential items, sealing themselves off from the threat of infection. Yet for many others, self-isolation is an economic impossibility – it means being unable to afford to pay rent, or afford food at th
  
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• WH Smith warns on profits as coronavirus empties airport shops

  12-03-2020 12:29
  
  Trump EU travel ban likely to add to woes as big drop in air travellers slashes revenuesCoronavirus - latest newsWH Smith has become the latest company to issue a profit warning because of the coronavirus pandemic, which has led to a major drop in shoppers at its airport outlets.The books and stationery store chain flagged a “significant impact” on its shops at airports in the Asia Pacific region, which account for 5% of its travel division’s revenues.The World Health Organizat
  
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• Coronavirus dents Adidas & Puma sales in China

  12-03-2020 11:27 via retailgazette.co.uk
  
  // Adidas and Puma both experience drop in Chinese sales amid coronavirus outbreak
  // The disruption would impact other markets
  // Nike warned on the impact of coronavirus last monthAdidas and Puma have both reported a drop in Chinese sales in China thanks to the coronavirus outbreak.
  The German sportswear giants have now warned the disruption would impact other markets.
  Adidas said sales in the first quarter of its financial year could drop as much as €1 billion (£870 million) in Gre
  
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• CHARGED: Klarna reaches 7 million UK users

  12-03-2020 11:02 via chargedretail.co.uk
  
  ‘Buy now, pay later’ app Klarna Bank AB this week revealed it has now served more than 7 million customers in the UK.
  The Swedish bank and online financial service provider saw global volumes rise 32 per cent and revenue rise 31 per cent year on year.
  Over the past 12 months a new Klarna order was made every 1.3 seconds and over 1.6 million UK customers have downloaded the Klarna app to date.
  READ MORE: Klarna posts £87m loss in first deficit since launch
  In the last 6 mon
  
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• Intu warns on collapse after £2bn loss

  12-03-2020 10:37 via retailgazette.co.uk
  
  // Intu warns on possibility of going bust after £2bn loss in 2019
  // Intu said the results reflect on the ongoing challenges in the market
  // The estimated value of Intu’s portfolio of shopping centres dropped 22% to £6.6bnStruggling shopping centre owner Intu has warned it could go bust if it does not secure further funds.
  In the year ended December 31, 2019, the Trafford Centre and Lakeside owner posted a £2 billion loss, up from £1.17 billion the year before.
  In
  
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• Crew Clothing owner to take Moss Bros private via acquisition deal

  12-03-2020 10:02 via retailgazette.co.uk
  
  // Moss Bros to be bought by Crew Clothing owner Menoshi “Michael” Shina
  // This would mean Moss Bros would return to private ownership
  // Shina’s offer values Moss Bros at £22.6mMoss Bros is on the brink of a change of hands after it agreed terms on a takeover bid from the owners of Crew Clothing in a deal worth £22.6 million.
  In an announcement to the stock market, Brigadier Acquisition Company – which is majority-owned by Regiment Acquisition Company, which
  
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• Morrisons heats up Big 4 competition by slashing prices on 500 items

  12-03-2020 09:51 via retailgazette.co.uk
  
  // Morrisons has slashed prices on hundreds of products in bid to heat up competition
  // Prices are slashed by 15%Morrisons has cut prices on hundreds of staple products in a bid to take on its Big 4 rivals.
  Up to 500 grocery items have had their prices slashed by 15 per cent, with Morrisons announcing that the cuts would make products “more affordable” for consumers.
  The grocer said it will cut prices on hundreds of more products in the coming weeks.READ MORE:Morrisons offers 20 app
  
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• Debenhams CEO to resign after less than a year in the role

  12-03-2020 09:34 via retailgazette.co.uk
  
  // Debenhams CEO Stefaan Vansteenkiste to step down after less than a year in the role
  // He reportedly leaving within months, with headhunter Spencer Stuart drafted in to secure a successor
  // Vansteenkiste is leaving Debenhams after being appointed last August on an interim basisDebenhams chief executive Stefaan Vansteenkiste is set to resign after less than a year as leader of the retailer.
  According to Sky News, Vansteenkiste is set to step down within months and headhunter Spencer
  
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• Intu warns it could go bust after reporting £2bn loss

  12-03-2020 09:17
  
  Trafford Centre and Lakeside owner write down asset values amid severe retail downturnIntu Properties, the owner of shopping malls including the Trafford Centre in Manchester and Lakeside in Essex, has warned it risks going under if it is unable to raise further funds.The struggling shopping centre giant posted a loss of £2bn for 2019, up from £1.17bn the year before. A spate of retailer administrations and restructurings forced Intu to write down the value of its malls by nearly &po
  
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• WHSmith warns on coronavirus denting sales by up to £130m

  12-03-2020 09:10 via retailgazette.co.uk
  
  // WHSmith believes the coronavirus outbreak could knock up to £130m off its full year revenues
  // It also warned that the outbreak could impact underlying pre-tax profits by between £30m-£40m
  // WHSmith says Covid-19 is impacting its Asia Pacific travel business, as well as airport sites in the UK, the US and EuropeWHSmith said it believes the Covid-19 outbreak could knock up to £130 million off its revenues for the current financial year.
  The books and stationery retail
  
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• 'I wear my grandad’s old boxers': meet the people who haven't bought clothes for a decade

  12-03-2020 07:00
  
  More and more of us are giving up fast fashion. But could you go for 10 years without shopping? Guardian readers tell us how – and why – they haveWhen the former Blue Peter presenter Konnie Huq told the hosts of Loose Women that she had not bought any clothes in a decade, she was met with consternation and shock from the show’s famously forthright panellists. “You’re not still wearing Blue Peter clothes!” exclaimed Janet Street-Porter. Huq acknowledged, sheepi
  
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• WH Smith warns on profit

  12-03-2020 01:00 via theretailbulletin.com
  
  WH Smith has said it expects its first half underlying pre-tax profit to be in line with expectations but has warned that its full year profit... View Article
  
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• Webloyalty comments on how retailers are responding to Coronavirus

  12-03-2020 01:00 via theretailbulletin.com
  
  Ben Stirling, Managing Director At Webloyalty, comments on how response to Coronavirus outbreak is impacting consumer loyalty:  “The Coronavirus epidemic has taken over every aspect of... View Article
  
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• Urban Outfitters reports drop in sales at Milan and Seattle stores

  12-03-2020 01:00 via theretailbulletin.com
  
  Urban Outfitters has reported a drop in both footfall and sales in stores in areas most impacted by the coronavirus. The company, whose portfolio includes the... View Article
  
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• Closet London hires sales and marketing director

  12-03-2020 01:00 via theretailbulletin.com
  
  Womenswear brand Closet London has hired Antonio Marsocci as its sales and marketing director. In his new position, Marsocci will use the latest technology to build... View Article
  
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• CHARGED: AllSaints enlists the help of bot protectors to bar malicious attacks

  12-03-2020 00:01 via chargedretail.co.uk
  
  Fashion brand AllSaints has enlisted the help of bot management solution Netacea, in order to protect itself from unwanted web traffic.
  The East London brand will now use Netacea’s machine learning technology to analyse bot behaviour.
  READ MORE: GlobalData: “Companies are still failing to take adequate steps against cyber threats”
  The analysis aims to identify malicious attacks before they happen, by distinguishing bots from human visitors to the AllSaints website.
  This me
  
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