Retail news

• Amazon reaps $11,000-a-second coronavirus lockdown bonanza

  15-04-2020 23:05
  
  Shares reach record high, pushing fortune of CEO and founder Jeff Bezos to $138bnCoronavirus – latest updatesSee all our coronavirus coverageThe online retailer Amazon has been described as a “clear winner” from the coronavirus crisis, its share price surging by more than a third inside a month, its customers spending almost $11,000 a second on its products and services, and its owner, Jeff Bezos, reinforcing his position as the world’s richest person with a fortune of $1
  
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• Amazon owner reaps $11,000-a-second coronavirus lockdown bonanza

  15-04-2020 23:05
  
  Shares reach record high, pushing fortune of CEO and founder Jeff Bezos to $138bnCoronavirus – latest updatesSee all our coronavirus coverageThe online retailer Amazon has been described as a “clear winner” from the coronavirus crisis, its share price surging by more than a third inside a month, its customers spending almost $11,000 a second on its products and services, and its owner, Jeff Bezos, reinforcing his position as the world’s richest person with a fortune of $1
  
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• Amazon's reaps $11,000-a-second coronavirus lockdown bonanza

  15-04-2020 20:27
  
  Shares reach record high, pushing fortune of its owner, Jeff Bezos, to $138bnCoronavirus – latest updatesSee all our coronavirus coverageThe online retailer Amazon has been described as a “clear winner” from the coronavirus crisis, its share price surging by more than a third inside a month, its customers spending almost $11,000 a second on its products and services, and its owner, Jeff Bezos, reinforcing his position as the world’s richest person with a fortune of $138bn
  
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• Amazon's lockdown bonanza pushes Jeff Bezos's fortune to £109bn

  15-04-2020 20:27
  
  Shares reach record high as lockdown creates Black-Friday style frenzy for delivery companyCoronavirus – latest updatesSee all our coronavirus coverageJeff Bezos, the chief executive of Amazon, has reinforced his position as the world’s richest person with a fortune of $138bn (£109bn) as the online retailer was declared a “clear winner” from the coronavirus crisis.While most businesses have been hit hard by the impact of the pandemic and the looming recession, share
  
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• 202 immediate job cuts as Oasis & Warehouse files for administration

  15-04-2020 18:22 via retailgazette.co.uk
  // Oasis and Warehouse group files for administration, appointing Deloitte to handle the process
  // 202 jobs have been made redundant, while 1800 others are on furlough
  // Oasis, Warehouse & The Idle Man continue to trade online in the short-term while administrators assess optionsAn immediate 202 jobs have been made redundant and a further 1800 remain at risk after Oasis and Warehouse filed for administration today.
  After reports emerged yesterday that the retailer was preparing for an inso
  
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• Oasis and Warehouse fall into administration with loss of 200 jobs

  15-04-2020 18:18
  
  Fashion chains become latest UK retailers to be hit by coronavirus lockdownCoronavirus – latest updatesSee all our coronavirus coverageOasis and Warehouse have collapsed into administration with the immediate loss of 200 jobs and more than 1,800 at risk, as the fashion chains become the latest retailers to be hit by the coronavirus crisis.Oasis and Warehouse Limited, which also includes The Idle Man and Bastyan Fashion, has appointed administrators from the advisory firm Deloitte.Income su
  
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• Education hit hardest as coronavirus batters UK economy

  15-04-2020 17:56
  
  Hospitality and construction also dealt heavy blow by pandemic, says OBRCoronavirus – latest updatesSee all our coronavirus coverageThe fallout from the coronavirus crisis will affect certain sectors of Britain’s economy, such as education, construction and hospitality, harder than most, according to analysis by the government’s independent economics watchdog.The Office for Budget Responsibility warned on Tuesday that UK gross domestic product (GDP) could plunge by 35% between
  
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• Cath Kidston: What went wrong?

  15-04-2020 17:46 via retailgazette.co.uk
  A BRIEF TIMELINE
  1987: Antique curtain dealer Cath Kidston opened a small curtain shop in London, titled McKinny Kidston.
  1993: Cath Kidston opened her eponymous brand in London’s Notting Hill, selling hand-embroidered tea towels and brightly-coloured furniture. She invested a third of her £15,000 start-up budget on creating her first floral print to produce cushion covers, cotton bags and a flowery ironing board cover.
  1995: Cath Kidston launched its first catalogue, made by hand us
  
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• Thousands of Debenhams jobs at risk after new High Court ruling

  15-04-2020 17:18 via retailgazette.co.uk
  // High Court rules that Debenhams’ administrators could be liable for furloughed staff’s full wages
  // The ruling could place thousands of jobs at risk
  // Administrators from FRP Advisory may pursue an appeal against the judge’s decisionThousands of jobs at Debenhams may be at risk after the High Court today ruled that its administrators could be liable for furloughed staff’s full wages.
  The department store chain appointed administrators from FRP Advisory last week as i
  
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• Fenwick the latest retailer to re-open online store

  15-04-2020 16:07 via retailgazette.co.uk
  // Fenwick re-opens its online store with an “with an edited offer”
  // It made “significant changes” to how orders are picked & packed so as to “strictly” adhere to social distancing guidelines
  // Fenwick will take new orders from today and will process & despatch orders made before March 25Fenwick has re-opened its online store with an “with an edited offer”, joining a growing list of retailers re-commencing ecommerce operations amid the c
  
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• Arcadia Group cancels ‘over £100m’ of orders as garment industry faces ruin

  15-04-2020 16:00
  
  As owner of brands including Topshop and Dorothy Perkins cancels unshipped orders, thousands will be left without income, warn rights groupsCoronavirus – latest updatesSee all our coronavirus coverageThe Arcadia Group, which owns brands including Topshop, Dorothy Perkins and Miss Selfridge, is estimated to have cancelled in excess of £100m of existing clothing orders worldwide from suppliers in some of the world’s poorest countries as the global garment sector faces ruin.Accord
  
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• 'I didn't buy new clothes for a year and it was the best thing to happen to my wardrobe'

  15-04-2020 15:49
  
  With consumerism brought to a standstill by the coronavirus, the call to change how we shop is more relevant than ever. One responsible fashion expert shares lessons from his year-long Extinction Rebellion fashion boycottA few weeks ago, I found myself standing in the apartment of Matthias, a Berlin biker who was selling his leather jacket on a local classifieds website. The jacket wasn’t for me, but I left with stories about when the Cramps played the 90s, and tips for German surf bands.A
  
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• Do you need to re-think your omnichannel strategy?

  15-04-2020 15:44 via retailgazette.co.uk
  Post-COVID-19, omnichannel will be the only way to save the High Street
  The current crisis is hitting High Street retailers harder than ever before.
  To get shoppers back in-store and spending once isolation ends, you need a joined-up strategy that rewards them wherever they spend.
  Read the explainer from Tim, Fidel’s Head of Partnerships, to find out:Why omnichannel experience is so important – and where so many retailers are getting it wrong
  Why neglecting the in-store experien
  
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• Grocery staff “should be trained” to spot abuse victims’ code words

  15-04-2020 15:37 via retailgazette.co.uk
  // Supermarket staff should be trained to recognise code words from domestic abuse victims, Victims Commissioner says
  // Lockdown has reduced opportunities for support, and some women may only leave the house to visit shops or pharmaciesSupermarket workers should be trained to recognise code words from domestic abuse victims whose only opportunity to seek help may be during the weekly shop, the Victims Commissioner said.
  While the school gates used to be a place where women could speak out, the
  
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• Government confirms non-essential online retail is “encouraged” during lockdown

  15-04-2020 15:27 via chargedretail.co.uk
  
  The government has issued a statement confirming that online retail during lockdown is “encouraged” amid confusion about non-essential goods.
  Retailers including Amazon and Asos have been heavily criticised for keeping their fulfilment centres open during the pandemic and putting their staff at risk of contracting and spreading the virus.
  As the majority of goods sold by Amazon and all of Asos’ items are non-essential, many have slammed both companies for continuing to trade.
  H
  
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• Online fashion sales plummet 23% during first month of lockdown

  15-04-2020 13:17 via retailgazette.co.uk
  // First month under lockdown sees online fashion sales plunge 23.1% in March
  // Overall online sales was down 5.1% year-on-year, but up 2.6% compared to February
  // Multichannel retailers outperformed online-only retailers for the first time since April 2019Online fashion sales nosedived during the month that saw the lockdown of non-essential stores, despite overall sales improving when compared to February.
  In a month where spring buying would typically set in, online clothing sales plunged 23
  
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• Office urgently seeks new owner

  15-04-2020 12:44 via retailgazette.co.uk
  // Office put up for sale as Covid-19 pandemic bites into trading performance
  // South African parent company Truworths hires Alvarez & Marsal to run accelerated sale of the shoe retailer
  // It becomes the latest retailer to seek new funding amid the coronavirus crisisThe parent company of footwear retailer Office is reportedly seeking a new owner urgently, making it the latest retailer to seek new funding amid the coronavirus pandemic.
  According to Sky News, South Africa-based Truworths Int
  
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• Ocado faces major backlash from Smart Pass customers not receiving deliveries despite being charged

  15-04-2020 10:55 via chargedretail.co.uk
  
  Ocado has sparked outrage from customers on social media after offering to refund anyone who paid for its “Smart Pass” service in March.
  Smart Pass holders pay £10.99 a month and are guaranteed unlimited deliveries free of charge, while also receiving monthly offers.
  READ MORE: Ocado apologises to customers stating it “simply does not have the capacity” to meet demand
  The online grocer took to Twitter yesterday to apologise to the growing number of Smart Pass h
  
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• Fashion retailers may have to write-off £15bn worth of spring and summer stock

  15-04-2020 10:10 via retailgazette.co.uk
  // Some £18 billion worth of spring and summer stock is building up in warehouses as shoppers stay at home
  // Fashion retailers usually make a third of annual sales during March – June but lockdown measures will impact demand for new clothing
  // Retailers now faced with quandry of what to do with excess S/S 2020 stockUnprecedented volumes of clothing are building up in warehouses as fashion retailers are unable to sell their spring and summer stock.
  The majority of physical shops in
  
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• Record Store Day launches Fill the Gap campaign to support independents

  15-04-2020 09:44 via retailgazette.co.uk
  // Vinyl revival fans create “Fill the Gap” campaign to help independent record stores
  // The Saturday April 18 event will encourage shoppers to buy a record online
  // Record Store Day postponed until June 20Record Store Day might have been postponed until June 20, but a new campaign hopes to encourage crate diggers to shop with independent record stores.
  This year’s Record Store Day was due to take place this Saturday April 18, but has now been postponed until the summer.READ
  
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• Retailers should be given a break from winding-up petitions, argues law firm

  15-04-2020 09:22 via retailgazette.co.uk
  // RPC law firm argues retailers should be given a break from winding-up petitions
  // A moratorium would allow businesses to mitigate the impact of coronavirus, argues RPCA UK law firm has called for a break in winding-up petitions against retailers who fail to pay creditors due to the outbreak of coronavirus.
  According to the Telegraph, lawyers at RPC have argued for a moratorium in winding-up petitions, after seeing the number of petitions accelerate since the spread of the pandemic.READ MORE:
  
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• UK footfall drops to lowest level on record

  15-04-2020 09:02 via retailgazette.co.uk
  // UK footfall fell 41.9% across March
  // Shoppers managed to resist warm weather over Easter with further drop in shopping trips
  // High streets and shopping centres are hit the hardest as spacious retail parks are best-placed for social distancing measuresSpringboard cited an “unprecedented decline” of 41.9 per cent for the UK’s footfall in March.
  Research released on Wednesday by Springboard revealed the impact of the government’s enforced lockdown from coronavirus.
  In
  
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• UK retail footfall plummets over Easter due to coronavirus lockdown

  15-04-2020 01:00 via theretailbulletin.com
  
  New data has revealed that footfall across UK retail locations dropped by 83.1% over the Easter weekend compared to last year’s Easter period. The figures from... View Article
  
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• Quiz reopens online operations

  15-04-2020 01:00 via theretailbulletin.com
  
  Fashion retailer Quiz has reopened its online operations following last month’s closure due to the coronavirus outbreak. Although the retailer’s website is fully functional again, it... View Article
  
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• John Lewis launches virtual services to meet customers’ needs during lockdown

  15-04-2020 01:00 via theretailbulletin.com
  
  The John Lewis department store chain has adapted its in-store services and taken them online to cater for customers during the coronavirus crisis. Customers can now... View Article
  
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