Retail news

• Tesco defends £635m dividend payout after coronavirus tax break

  08-04-2020 20:08
  
  Labour peer Andrew Adonis urges retailer to repay £585m government support packageCoronavirus – latest updatesSee all our coronavirus coverageTesco has defended its decision to pay a £635m dividend while accepting a similar-sized tax break from the government’s emergency coronavirus support package.The Labour peer Andrew Adonis tweeted that it was “absolutely wrong” for Tesco to accept the business rates holiday worth £585m and said the retailer should &
  
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• Rishi Sunak should take share of blame for Tesco dividend anger | Nils Pratley

  08-04-2020 20:02
  
  There was no need to include supermarkets in a rates holiday when business is booming Outrage about Tesco’s dividend should also be directed at Rishi Sunak. Why on earth did the chancellor include supermarkets, whose stores remain open and popular, in his business rates holiday? There was no need to do so.The result is a fine mess that the Tesco chief executive, Dave Lewis, made worse with a disingenuous defence of his chain’s £585m slice of the business rates freebie. Continue
  
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• Tesco defends dividend amid warnings over profits hit

  08-04-2020 19:28
  Chief says needs of savers and pension funds should be considered in dividend debate
  
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• H&M signs new credit facility of £862m amid Covid-19 crisis

  08-04-2020 18:18 via retailgazette.co.uk
  // H&M signs new credit facility to strengthen financial position
  // The group has been given a six-month extension option to “further strengthen its liquidity buffer”H&M has agreed to a new year-long revolving credit facility of €980 million (£862 million) to boost its financial status amid the coronavirus pandemic.
  The fashion group has been given a six-month extension option to “further strengthen its liquidity buffer and financial flexibility in response
  
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• 'This is an economic crisis': why the pandemic could spell the end for British fashion

  08-04-2020 18:04
  
  According to experts, without significant government intervention, many young designers and freelancers will be in troubleThe future of Britain’s fashion industry is in severe doubt due to the global pandemic, with 35% of young and upcoming designers looking as if they will not be able to continue their businesses past the summer.The findings, from the British Fashion Council (BFC) also predict that half of the entire industry could cease to exist by the end of 2020. “Without some so
  
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• Coronavirus: Publishing giant Bloomsbury supports indie bookstores

  08-04-2020 17:45 via retailgazette.co.uk
  // Independent booksellers to receive support from Bloomsbury Publishing amid Covid-19 chaos
  // The publishing giant will offer cash and refer customers to Bloomsbury while the bookstores are shutIndie bookstores will receive support from Bloomsbury Publishing after many have been affected by the coronavirus pandemic.
  The publishing firm said it will offer cash and refer customers to Bloomsbury while the independent stores are not operating.
  Customers will be directed to the Bloomsbury
  
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• Business is booming for supermarkets - they don't need government handouts | George Turner

  08-04-2020 17:01
  
  Rishi Sunak should heed the coronavirus response in Wales, where small businesses and charities have taken priorityCoronavirus – latest updatesSee all our coronavirus coverageThe financial package put together by the Treasury is enormous and unprecedented, with the government setting aside an additional £250bn in contingency this year. Although the sudden switch to large-scale deficit spending has caused anxiety among some conservatives, so far the policies have enjoyed widespread su
  
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• Spotlight: Livingston Designer Outlet

  08-04-2020 16:58 via retailgazette.co.uk
  According to a 2016 report from real estate advisory giant Savills, the UK’s retail outlet sector was to achieve a value of £3.8 billion by this year.
  Despite the huge worth, the outlet sector is often overlooked, with the more traditional shopping centres or the much-loved high streets usually the centre of attention instead.
  First opened in 2000, the centre waited 19 years before rebranding from its former name McArthur Glen Designer Outlet. Its previous bold and colourful identity
  
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• Tesco defends £900m shareholder payout despite £585m tax break

  08-04-2020 14:56 via retailgazette.co.uk
  // Politicians & analysts scrutinise Tesco’s “aggressive” move to pay £900m in dividends to shareholders
  // The criticism follows Tesco receiving £585m tax break from the government over the business rates holiday
  // Tesco shareholders will receive 9.15p per share in its first shareholder dividend in five yearsTesco has defended paying out £900 million in dividends to investors despite securing a £585 million tax break from the government.
  Politician
  
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• Japan convenience stores: lockdown lifeline

  08-04-2020 13:45
  The outbreak may provide an opportunity for ‘combinis’ to return to the previous decade’s glory days
  
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• M&S donates uniforms, clothing & sets up free food delivery for NHS staff

  08-04-2020 13:21 via retailgazette.co.uk
  // M&S shares plans to support NHS response to coronavirus in the UK
  // Plans include uniform donations to NHS Nightingale in London and scrubs for NHS Derbyshire
  // M&S also donating clothing packs for discharged patients and free delivery for 2 London hospitalsMarks & Spencer has announced a series of initiatives to support the NHS’s response to coronavirus in the UK, including clothing donations and a free food delivery service.
  M&S said it would donate thousands of spec
  
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• Morrisons partners with Deliveroo to offer 70 essential items for delivery via its app

  08-04-2020 13:07 via chargedretail.co.uk
  
  Morrisons has partnered with Deliveroo to offer on-demand delivery in as little as 30 minutes to families struggling to secure delivery slots.
  In a further partnership aimed at expanding its delivery capabilities, Morrisons will now offer 70 “essential household” items via the Deliveroo app.
  The service will be available from more than 130 Morrisons stores across the UK, meaning one-in-four households can order “to the door in as little as under 30 minutes”.
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• Coronavirus: Millions of jobs at risk in the fashion retail sector

  08-04-2020 12:09 via retailgazette.co.uk
  // Global fashion sales could drop up to 30% in the next 18 months
  // The luxury sector is most at risk
  // 80% of listed fashion retailers in EU & North America will be in financial distress if stores remain shut for 2 monthsA new report has suggested that the global fashion industry could see a “significant number” of retailers go bust in the next 18 months, putting millions of jobs at risk – due to the coronavirus pandemic.
  Fashion sales are expected to drop by up to 30 p
  
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• Coronavirus: Millions of jobs at risk across fashion retail

  08-04-2020 12:09 via retailgazette.co.uk
  // Global fashion sales could drop up to 30% in the next 18 months
  // Luxury fashion is most at risk
  // 80% of listed fashion retailers in EU & North America will be in financial distress if stores stay shut for 2 monthsA new report has suggested that the global fashion industry could see a “significant number” of retailers go bust in the next 18 months, putting millions of jobs at risk.
  Fashion sales are expected to drop by up to 30 per cent in 2020, with the luxury sector being
  
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• Etsy rallies sellers to “start making face masks” as demand skyrockets

  08-04-2020 11:13 via chargedretail.co.uk
  
  Etsy has called on all its sellers to “start making face masks” in an unprecedented effort to meet demand.
  The online marketplace, which specialises in craft and artisanal products made by its sellers, has rallied its users to begin creating face masks at home as search volumes skyrocket.
  According to a blog post published yesterday, buyers searched for face masks on Etsy an average of nine times per second over the last week, totalling over two-million searches. kingsley @
  
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• Coronavirus: H&M to support Bangladeshi factory workers

  08-04-2020 10:41 via retailgazette.co.uk
  // H&M will support Bangladeshi garment workers as their jobs were affected due to factory closures
  // The coronavirus outbreak caused the cancellation of an estimated £2.4 million in orders
  // H&M is the largest buyer of Bangladeshi apparelH&M has announced it is working with other businesses to support garment workers in Bangladesh, where over two million have been affected by factory closures due to the coronavirus outbreak.
  The pandemic has caused the cancellation of an est
  
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• Tesco defends payout amid warnings over profits hit

  08-04-2020 10:40
  CEO Lewis says needs of savers and pension funds should be considered in dividend debate
  
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• Asos raises £247m in share placing as sales drop by 25%

  08-04-2020 10:27 via retailgazette.co.uk
  // Asos’ sales plummet 25% in the most recent three weeks of trading, since lockdown came into effect
  // It also raised £247m through a placing of shares to help it weather the storm of the coronavirus crisis
  // For the half-year ending Feb 29, Asos’ pre-tax profit surged 653% to a record £30.1m, sales grew 21% to £1.6bnAsos has shown that online fashion is not immune to the unprecedented problems in retail due to Covid-19, as it revealed a 25 per cent drop in sales
  
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• Sainsbury’s stops rationing “thousands” of items after feedback

  08-04-2020 10:08 via retailgazette.co.uk
  // Sainsbury’s lifts buying restriction on some products after receiving feedback
  // CEO Mike Coupe wrote in a letter to customers to inform them
  // Some restrictions still remain in place until further noticeSainsbury’s has lifted buying restrictions on “thousands” of products after chief executive Mike Coupe said stock levels across stores were “much better,” but some restrictions remain in place until further notice.
  Many grocers implemented the rationing r
  
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• Tesco sales jump amid warning of “significant” coronavirus costs

  08-04-2020 09:44 via retailgazette.co.uk
  // Tesco says the “significant extra costs” from coronavirus crisis could fall between £650m-£925m
  // However, this would be largely offset by business rates holiday and food volume increases
  // Tesco also posted uplifts in full-year overall profits and UK salesTesco has warned that the panic buying in recent weeks may have led to a 30 per cent sales boost but the impact of coronavirus could the retailer cost as much as £925 million.
  The supermarket giant, which adm
  
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• Fashion industry reels as coronavirus shuts shops and cancels orders

  08-04-2020 09:30
  
  Report warns 80% of firms face a highly uncertain future if stores close for two monthsThe coronavirus pandemic has plunged the $2.5tn (£2bn) global fashion industry into crisis with a “significant number” of firms expected to go bust in the next 18 months, putting millions of jobs at risk.Global fashion sales are predicted to fall by up to 30% in 2020 and the luxury end of the market will be even harder hit, with sales slumping by up to 40%, according to a bleak new report by
  
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• Tesco sales up 30% because of pre-lockdown stockpiling

  08-04-2020 09:09
  
  Feeding the nation during coronavirus crisis could add almost £1bn to running costsCoronavirus – latest updatesSee all our coronavirus coverageTesco sales jumped 30% in the first few weeks of the coronavirus outbreak as shoppers stockpiled in the run-up to the lockdown but additional costs involved in feeding the nation could reach almost £1bn. The UK’s biggest supermarket group said the full financial impact of the crisis this year was “impossible to predict”
  
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• Holland & Barrett staff demand stores close during lockdown

  08-04-2020 09:04 via retailgazette.co.uk
  // Holland & Barrett staff demand it closes its stores on safety grounds amid coronavirus pandemic
  // A petition with over 3500 signatures said being on the “front lines” in stores was “very difficult” for staff & increased the risks
  // Holland & Barrett was seen as an “essential” service by the government and advised to stay open during the lockdownStaff at health supplement retailer Holland & Barrett are demanding it closes its stores on safe
  
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• Tesco warns of virus costs of up to £925m

  08-04-2020 08:48
  Extra expenses ‘would be largely offset’ as panic buying results in 30 per cent rise in sales
  
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• Tesco defends payout amid warnings over profits hit from coronavirus

  08-04-2020 08:48
  Chief Dave Lewis says the needs of savers and pension funds should be considered in debate around dividends
  
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• Waitrose launches volunteers’ shopping e-gift card

  08-04-2020 01:00 via theretailbulletin.com
  
  The Waitrose supermarket chain has launched an e-gift card for self-isolating customers who want to arrange payment for groceries delivered by volunteers, friends or family members.... View Article
  
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• Tesco reports increased costs due to coronavirus crisis

  08-04-2020 01:00 via theretailbulletin.com
  
  Tesco has said its operating costs could rise by between £650 million and £925 million in the current financial year due to the coronavirus pandemic. The... View Article
  
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• T-NOW, a New Offering from TTEC, Provides COVID-19 Business and Government Continuity and Resiliency Solutions for CX Leaders

  08-04-2020 01:00 via theretailbulletin.com
  
  TTEC Holdings, Inc. (NASDAQ: TTEC) a leading digital customer experience (CX) technology and services company focused on the design, implementation, and delivery of transformative solutions for... View Article
  
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• New figures: retail footfall

  08-04-2020 01:00 via theretailbulletin.com
  
  New data has revealed that UK retail footfall dropped by 75.1% in the week beginning 22 March and by 81.4% last week as a result of... View Article
  
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• Morrisons launches grocery delivery service with Deliveroo

  08-04-2020 01:00 via theretailbulletin.com
  
  Morrisons and Deliveroo have launched a new service where customers can order from a range of 70 essential household items from Morrisons stores for on-demand delivery.... View Article
  
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