Retail news

• Rolls-Royce's self-reliance has given the chancellor a boost | Nils Pratley

  06-04-2020 20:57
  
  The company’s spending cuts bolster the government message that bailouts are a last resortSee all our coronavirus coverageRishi Sunak will be delighted. The chancellor told the aviation industry that government-backed bailouts would only be considered “as a last resort”, and here comes engine-maker Rolls-Royce to demonstrate what it can achieve under its own steam.Rolls’ shareholders should also be pleased. Monday’s dividend suspension is bad news for them, but not
  
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• Debenhams: store of some value 

  06-04-2020 18:22
  Coronavirus lockdown is latest chapter in long-running saga for UK retail chains
  
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• Primark workers face further salary cuts amid Covid-19 outbreak

  06-04-2020 18:16 via retailgazette.co.uk
  // Primark workers to face salary cuts as the retailer attempts to avoid temporary layoffs or redundancies
  // Senior executives will face 20% pay cut
  // The remainder of colleagues will face 10% cutPrimark employees will reportedly face a salary cut as the business attempts to avoid temporary layoffs or redundancies during the coronavirus pandemic.
  The fashion retailer has introduced a temporary 20 per cent reduction in pay for senior executives, and a temporary 10 per cent cut for the remainder
  
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• Debenhams: store of no value 

  06-04-2020 18:12
  Long-running saga unlikely to finish soon
  
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• Coronavirus: Clarks to permanently shut some stores

  06-04-2020 17:45 via retailgazette.co.uk
  // Clarks to permanently close some stores as coronavirus crisis takes its toll
  // The footwear retailer has 347 stores in the UK
  // Clarks drafted in Rothschild to explore financing optionsClarks is reportedly preparing to permanently close some of its stores and has drafted in bankers to review its finances amid the coronavirus pandemic.
  The footwear retailer has struggled to deliver a turnaround plan and has consequently made the decision not to reopen “a small number” of its
  
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• Coronavirus: Is food rationing the way forward?

  06-04-2020 16:19 via retailgazette.co.uk
  The last time the UK had a rationing system was during World War II, when the government introduced it in 1940. It was slowly lifted after the end of the war in 1945, but didn’t finally end until 1954.
  Today the UK remains dependent on imports for the majority of its food. That may be fine during non-volatile times but in the age of the Covid-19 pandemic, logistics are vulnerable to borders closing down and the risk of truck drivers falling ill with the highly contagious virus.
  Stockpiling
  
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• Eve Sleep promotes Cheryl Calverley to CEO to replace James Sturrock

  06-04-2020 13:42 via retailgazette.co.uk
  // James Sturrock to step down as CEO of Eve Sleep
  // Cheryl Calverley currently CMO promoted to CEO
  // Sturrock is moving to non-executive board member in order to take up another external roleJames Sturrock has stepped down as chief executive of Eve Sleep, with chief marketing officer Cheryl Calverley promoted to take the top job at the online bedding retailer.
  Effective from May 12, Sturrock is stepping down to take-up a new external position but will remain on Eve Sleep’s board a non-e
  
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• Debenhams files for administration

  06-04-2020 13:32
  Process aims to avoid legal action by creditors during lockdown
  
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• McColl’s partners with Deliveroo to offer online deliveries for the first time

  06-04-2020 12:44 via chargedretail.co.uk
  
  McColl’s has announced a new partnership with Deliveroo seeing its goods available to order online for the first time.
  The partnership will see “daily essentials” including groceries, toiletries and household goods available to order on the Deliveroo app.
  Initially 120 McColl’s stores will offer delivery via Deliveroo in “as little as under 30 minutes”, but the convenience giant says it plans to roll the service out to 300 stores in the coming weeks.
  It adds t
  
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• Debenhams to appoint administrators for second time in a year

  06-04-2020 12:14
  
  Department store chain seeks to protect assets from creditors during coronavirus lockdownCoronavirus – latest updatesSee all our coronavirus coverageDebenhams has confirmed it intends to appoint administrators for the second time in a year as it tries to protect its assets from creditors during the coronavirus lockdown.The struggling department store chain said the process will provide it with protection from the threat of legal action “that could have the effect of pushing the busin
  
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• Debenhams files notice of intent to appoint administrators

  06-04-2020 12:06 via retailgazette.co.uk
  // Debenhams has filed a notice of intention to appoint administrators
  // The move would protects Debenhams from legal claims from creditors in the short term
  // FRP Advisory drafted in to advise in relation to the possible administrationDebenhams has filed a notice of intention to appoint administrators, bringing the retailer closer to a second insolvency process in a year as struggles amid the coronavirus crisis.
  The 242-year-old department store chain said the notice of intent to appoint admi
  
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• Coronavirus: TK Maxx extends supplier payment terms

  06-04-2020 11:35 via retailgazette.co.uk
  // TK Maxx extends supplier payment terms by 90 days
  // The group closed all stores on March 19 and shut online operations last weekTK Maxx has reportedly extended supplier payment terms by 90 days after closing its online store last week amid the coronavirus outbreak.
  In a letter to suppliers, TK Maxx parent group TJX Europe chief buying officer Roger Bannister said the TJX organisation and its vendor community is facing unprecedented times as the Covid-19 situation unfolds daily, Drapers repor
  
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• GameStop ordered to close stores after defying lockdown and instructing staff to “tape plastic bag over your hands”

  06-04-2020 11:25 via chargedretail.co.uk
  
  GameStop has been ordered by state officials to close its stores after defying US government lockdown orders claiming it was providing an “essential service”.
  All of the video game retailer’s stores in Massachusetts have now been closed, including its curbside service, after being issued a nuisance order by authorities, according to the Boston Globe.
  The US state ordered all non-essential retailers to close their stores on March 24, but GameStop told staff in a memo that &
  
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• Tesco joins alliance to deliver meals to NHS frontline

  06-04-2020 10:55 via retailgazette.co.uk
  // Tesco joins alliance of businesses to deliver meals to NHS frontline staff amid Covid-19 pandemic
  // The SalutetheNHS.org aims to serve 1 million meals to health workersTesco has become the latest grocer to pledge to deliver meals to frontline NHS staff amid the coronavirus outbreak.
  The Big 4 leader joined an alliance of businesses – SalutetheNHS.org – aimed to serve one million meals to health workers.
  The scheme is designed to provide ”nutritious and ready-to-eat meals&rd
  
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• Coronavirus: ScS suspends dividend payments

  06-04-2020 10:07 via retailgazette.co.uk
  // ScS suspends payment of the interim dividend
  // The retailer said it will use the cash for anything other than protecting the financial strength of its business
  // The UK gov is backing the business’ financial strength amid the Covid-19 pandemicScS has suspended payment of the interim dividend, which was due to be paid on May 7, as the UK government helps protect the financial strength of the business amid the coronavirus outbreak.
  The furniture retailer said that despite its strong bal
  
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• Thousands of small retailers miss out on business rates funding due to “anomaly”

  06-04-2020 09:39 via retailgazette.co.uk
  // Thousands of retailers to lose out on £15,000 of government grant funding due to an “anomaly”
  // 3657 high street business will only be able to receive £10,000 grants despite not receiving the previous benefit of small business rates relief
  // But if these firms were to have their valuations just £1 higher, they would be able to receive a further £15,000 eachThousands of small retailers in England are each set to lose out on £15,000 of government gran
  
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• WHSmith turns to investors for cash injection amid pandemic

  06-04-2020 09:18 via retailgazette.co.uk
  // WHSmith launches equity fundraising to overcome coronavirus-related decline
  // It is in preparations for a share placing representing a maximum of 13.7% of its issued share capital
  // This means it could raise between £200 million and £300 million to shore up its balance sheetWHSmith is reportedly planning to tap investors to help raise cash through an equity issue in a bid to overcome the financial impacts of the coronavirus lockdown.
  The books and stationery retailer said it was
  
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• Consumer confidence plunges at fastest rate in 40 years

  06-04-2020 08:48 via retailgazette.co.uk
  // Consumer confidence in the last 2 weeks of March plunged to a score of -34
  // This compares to -9 in mid-March, right before the coronavirus crisis escalated
  // The 25-point tumble is the biggest fall in confidence since records started in January 1974Consumer confidence fell of a cliff in the last two weeks of March, tumbling at the fastest rate since records started more than 40 years ago, according to an index.
  People were asked about changes to their personal finances, the general economy
  
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• Long queues as Australian supermarkets limit customers to avoid overcrowding in lead up to Easter

  06-04-2020 07:49
  
  Social media posts have shown lines stretching hundreds of meters as Coles, Woolworths and IGA enforce physical distancing
  Follow the latest Australia coronavirus live newsSign up for Guardian Australia’s daily coronavirus email
  Download the free Guardian app to get the most important news notificationsCoronavirus Australia maps and cases: live numbers and statisticsLong lines have formed outside supermarkets after Coles, Woolworths and IGA began limiting the number of customers inside sto
  
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• UK fashion suppliers warn of wipeout

  06-04-2020 05:00
  Retailers extend payment terms and cancel orders after stores close
  
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• Consumer confidence plummets to 2008 levels after UK lockdown

  06-04-2020 01:03
  Worries over personal finances and health of economy prompts slump in buying intentions
  
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• Coronavirus lockdown to hit low-paid, young and women hardest, warns IFS

  06-04-2020 01:01
  
  Low earners seven times more likely to work in sectors worst hit by shutdown, study findsCoronavirus – latest updates See all our coronavirus coverage The low-paid, young people and women are likely to be the hardest hit by the coronavirus shutdown of businesses including restaurants, hotels, pubs, retailers and transport services.Low earners are seven times as likely as high earners to work in a business sector that has shut down, according to the Institute for Fiscal Studies. The body&rs
  
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• WH Smith secures new funds and prepares for equity raise

  06-04-2020 01:00 via theretailbulletin.com
  
  WH Smith has secured new lending facilities of £120 million as its looks to strengthen its balance sheet, working capital and liquidity position during the coronavirus crisis.... View Article
  
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• Schuh resumes online trading

  06-04-2020 01:00 via theretailbulletin.com
  
  Footwear retailer Schuh has taken the decision to reopen its website following the introduction of new measures to protect staff throughout the coronavirus pandemic. Schuh said... View Article
  
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• McColl’s teams up with Deliveroo on grocery delivery service

  06-04-2020 01:00 via theretailbulletin.com
  
  Convenience retailer McColl’s is to offer customers a new home delivery service through a partnership with Deliveroo. The retailer will make a range of everyday essential... View Article
  
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• John Lewis Partnership thanks staff with new reward payment and increased discount

  06-04-2020 01:00 via theretailbulletin.com
  
  The John Lewis Partnership is to thank staff working through the covid-19 crisis with a new reward payment and an increased level of discount. The partnership... View Article
  
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• Debenhams to appoint administrators to protect business during covid-19 crisis

  06-04-2020 01:00 via theretailbulletin.com
  
  Debenhams has filed a notice of intention to appoint administrators  as it looks to protect itself from the threat of legal action from creditors while its... View Article
  
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• Aldi lifts covid-19 related restrictions on most products and introduces sanitisation stations

  06-04-2020 01:00 via theretailbulletin.com
  
  Aldi is lifting purchase restrictions on all products with the exception of hand wash, shower gel and UHT milk. The relaxation follows a return to stable... View Article
  
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• Aldi appoints new managing director for Ireland

  06-04-2020 01:00 via theretailbulletin.com
  
  Aldi has announced that it has appointed Niall O’Connor to the position of group managing director for Aldi Ireland. The retailer said O’Connor actually took up... View Article
  
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