Retail news

• The Truth About Amazon review – a punters' guide to the retail giant's jungle

  21-04-2020 23:00
  
  This Supershoppers special takes two Amazon-devoted families on an eye-opening tour of the retailers’ tactics – with mixed resultsI forget how much of an unbearable metropolitan elitist I am sometimes. When I see a programme called The Truth About Amazon, I automatically think it’s going to be an excoriating investigation into some of the alleged abuses of its workers. These are so many that, taken together, they would amount to something remarkably close to servitude, even bef
  
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• Boots and Matalan among firms targeted over unpaid rents

  21-04-2020 21:14
  
  Commercial landlords launch legal action to reclaim money withheld by businesses since coronavirus lockdownCoronavirus – latest updatesSee all our coronavirus coverageCommercial property landlords are starting to tighten the screw on retailers including Boots and Matalan for failing to pay overdue rent, in some cases starting legal action to reclaim money they are owed.Boots, which has continued to trade throughout the lockdown, has been criticised with other businesses, including Travelod
  
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• Admiral shows the insurance industry how it is done

  21-04-2020 19:56 via ft.com
  Company to refund fraction of policy premiums to reflect reduction in driving  
  
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• John Lewis and Primark furlough tens of thousands of staff

  21-04-2020 18:34
  
  Lockdown further dents UK high street as John Lewis stands down 14,000 and Primark owner furloughs 68,000 worldwideCoronavirus – latest updatesSee all our coronavirus coverageTwo of the biggest names on the British high street have spelled out the damage being done by the coronavirus lockdown, putting tens of thousands of staff on the goverment’s job retention scheme and slashing spending as sales plunge. Primark and John Lewis have together furloughed more than 80,000 staff. John Le
  
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• John Lewis hands near-£1m payout to former boss Paula Nickolds

  21-04-2020 17:59 via retailgazette.co.uk
  // John Lewis paid out £939,773 to former managing director Paula Nickolds
  // Nickolds announced her departure in January after weak Christmas salesJohn Lewis has handed an almost £1 million payout to its former managing director Paula Nickolds.
  The group revealed that it paid out £939,773 to Nickolds, who exited in January following lacklustre Christmas sales.
  Nickolds had worked for the business for 25 years in various roles before her departure.READ MORE:John Lewis sales dow
  
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• Coronavirus: Quiz banking facilities extended to July

  21-04-2020 17:26 via retailgazette.co.uk
  // Quiz secures extension on existing banking facilities until end of July
  // The facilities had been due to expire on April 23Quiz has confirmed that its existing banking facilities have been extended until the end of July as the coronavirus pandemic continues.
  The facilities, with HSBC, had been due to expire on April 23.
  The fast fashion retailer currently has an overdraft facility of £2 million and a working facility of £1.5 million – against which a total of £3.5 mil
  
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• How do you think your shopping habits will change after lockdown?

  21-04-2020 17:16
  
  We want to hear about how your attitude to shopping may change once lockdown has been lifted
  With high streets struggling under lockdown and boycotting fashion becomes more popular as people stay at home, we want to hear how your shopping habits may change once shops reopen. Continue reading...
  
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• Confirmed: 908 job cuts as Cath Kidston permanently shuts all 60 UK stores

  21-04-2020 15:24 via retailgazette.co.uk
  // Cath Kidston to permanently to shut all 60 UK stores with the loss of 908 jobs
  // Owner secured a deal to buy back Cath Kidston’s brand & website following its fall into administration
  // Only 32 of its 940 staff will see their jobs secured as part of the dealCath Kidston is to permanently to shut all 60 of its UK stores, resulting in the loss of 908 jobs after the retailer fell into administration.
  The retailer confirmed its British stores would not reopen after the coronavirus loc
  
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• John Lewis furloughs 14,000 staff as coronavirus hits sales

  21-04-2020 14:03 via ft.com
  Near-doubling of online sales at department stores not sufficient to offset impact of shop closures
  
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• John Lewis accelerates review as sales fall and 14,000 staff put on furlough

  21-04-2020 14:03 via ft.com
  Department store sales could slide as much as 35% this year
  
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• John Lewis furloughs 14,000 staff amid fears store sales will fall by a third

  21-04-2020 13:44
  
  Investment spending also slashed as group plans for worst-case-scenario in coronavirus crisisJohn Lewis is furloughing 14,000 staff and slashing hundreds of millions of pounds from its spending plans as it fears department store sales could fall by a third.In a trading update the employee-owned group, which also owns Waitrose, said it was planning for a “worst-case scenario” whereby John Lewis would seeexperience steep sales declines until June, followed by a period of weak demand.Wh
  
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• Cloud: silver linings

  21-04-2020 13:33 via ft.com
  Where Alibaba directs its $28bn spending will be crucial
  
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• Cath Kidston to close all 60 UK stores with loss of 900 jobs

  21-04-2020 13:26
  
  Retro retail label to continue trading online and via its wholesale and franchise businesses around worldMore than 900 jobs are to be axed with immediate effect at retro retail label Cath Kidston after the company said it was permanently closing all 60 of its UK stores under a rescue deal with its Hong Kong-based owner Baring Private Equity Asia.The vintage-inspired fashion label will continue trading online and via its wholesale and franchise businesses around the world, which includes more tha
  
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• New Supermaket Check-In app shows you the size of queues and stock levels at your local supermarkets

  21-04-2020 12:51 via chargedretail.co.uk
  
  A new app has been released which informs shoppers about the size of queues outside their local supermarkets, enabling them to pick the best time to shop.
  Supermarket Check-In is now available to download on iOS and Android devices, which aims to “relieve the headache” of shopping for food during the lockdown.
  Since the lockdown was imposed on March 23, supermarkets have enforced strict limits on the amount of people allowed in store at any one time to enable social distancing, often
  
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• H&M tops 2020 fashion transparency index

  21-04-2020 12:41 via retailgazette.co.uk
  // H&M Group tops the  Fashion Revolution transparency index scoring 73%
  // Max Mara, Mexx, Pepe Jeans & Tom Ford reveal nothing about their practices – scoring 0%H&M, Adidas/Reebok, Esprit and Marks & Spencer have been ranked the world’s most transparent major fashion brands, according to the 2020 fashion transparency index.
  The index, which is compiled by the Fashion Revolution campaign group, scores the world’s largest fashion businesses according to how
  
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• Primark takes £284m hit on unsold stock

  21-04-2020 12:09 via ft.com
  Fashion retailer grappling with zero revenue during lockdown expects lower sales once stores reopen
  
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• John Lewis sales down 17%, Waitrose up 8% in wake of coronavirus

  21-04-2020 12:03 via retailgazette.co.uk
  // John Lewis’ online sales surge 84% since mid-March
  // However, due to the impact of store closures, total sales is down 17% in that same period
  // Waitrose’s overall sales climb 8% since January 26John Lewis Partnership has experienced mixed trading since the outbreak of the coronavirus pandemic, with Waitrose enjoying growth while John Lewis has declined.
  The partnership said its Waitrose supermarket business saw sales jump eight per cent since January 26 thanks to shoppers stock
  
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• Ted Baker launched first ever digital pop-up donating 100% of profits to charity

  21-04-2020 11:51 via chargedretail.co.uk
  
  Ted Baker is set to launch its first ever digital pop-up store and plans to donate 100 per cent of its profits to local charities.
  Ted’s Bazaar will open on May 1 with a range of limited-edition items including prints, t-shirts, beanies, tea-towels and mugs which will be updated on an ongoing basis.
  Each item will feature one of three exclusive designs, a rainbow, an applause emoji and a “Home, Hope, Love” slogan which “symbolise the brand’s support and appreciation
  
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• Vestiaire Collective secures £51m funding to expand globally

  21-04-2020 11:40 via retailgazette.co.uk
  // Vestiaire Collective Raises £51 million in funding to expand the launch of its US direct shipping service
  // The funding will also be used in the expansion of the global business into Japan & Korea
  Vestiaire Collective has secured £51 million in funding from existing shareholders and new investors to help expand into Japan and Korea and develop its US shipping services.
  The new funding will allow for the further acceleration of Vestiare Collective’s international busines
  
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• Jobs saved as Halfords transfers 11 Cycle Republic shops to new owner

  21-04-2020 11:25 via retailgazette.co.uk
  // Halfords will transfer 11 Cycle Republic stores to electric scooter retailer Pure Electric
  // The transfer will save 85 jobsHalfords has secured a new owner for 11 of its Cycle Republic stores as the retailer seeks to offload its performance cycling businesses.
  The autocentre retailer will transfer 11 stores that were previously slated for closure to electric scooter retailer Pure Electric, saving 85 jobs.
  Cycle Republic stores in cities including Birmingham, Bristol, Edinburgh and Manchester
  
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• French Connection hires financial advisor

  21-04-2020 10:16 via retailgazette.co.uk
  // French Connection hires brokerage firm WH Ireland as financial adviser
  // The appointment comes after French Connection’s loss of £2.9m in the year to January 31French Connection has appointed wealth management and brokerage firm WH Ireland as its financial adviser and sole broker with immediate effect.
  The fashion retailer had said back in January that it had not found a buyer after putting the business up for sale, and was terminating the process to refocus on its turnaround to
  
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• 14 B&Q stores re-open on trial basis amid lockdown

  21-04-2020 10:12 via retailgazette.co.uk
  // B&Q reopens 14 stores on trial basis
  // B&Q had initially closed them all down due to the coronavirus lockdown despite being classified as essential
  // The stores have strict social distancing measures in place & click-and-collect has been suspendedB&Q has decided to reopen a handful of its stores on a trial basis with social distancing measures enforced after initially closing them all down due to the coronavirus lockdown.
  Although classified as an essential retailer and havi
  
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• £15m secured at Joules’ existing debt facility

  21-04-2020 09:59 via retailgazette.co.uk
  // Joules secures £15m credit boost
  // The retailer has seen a high demand in online sales
  // Net debt position on April 19 was £6.9m with £43.1m of available headroomJoules has confirmed the completion of a £15 million increase to its revolving credit facility (RCF), after posting better than expected online sales.
  The lifestyle retailer said the increase, combined with action it has taken with the help of suppliers and landlords to mitigate the impact of coron
  
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• 740 jobs at risk as Cath Kidston mulls 60 UK store closures in pre-pack deal

  21-04-2020 09:48 via retailgazette.co.uk
  // Baring Private Equity Asia is to buy Cath Kidston assets in pre-pack administration deal
  // Almost all of Cath Kidston’s 60 UK stores would shut & the business would focus on trading online and wholesale
  // The move places 740 jobs at riskCath Kidston’s 60 UK stores are at risk of all being shut down permanently and 740 jobs could be at risk as the retailer’s owners mull accepting a pre-pack administration deal.
  According to Sky News, Cath Kidston parent company Baring P
  
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• Primark’s monthly sales nosedive from £650m to zero

  21-04-2020 09:26 via retailgazette.co.uk
  // Primark’s monthly sales have dropped from £650m to zero amid coronavirus lockdown
  // 68,000 staff have been furloughed across Europe & it took a £284m hit for unsold stock
  // Half year results for the period ending February 29 – before the pandemic took a hold – showed marginal growthAB Foods has used its half-year trading update to reveal that Primark sales have plunged from £650 million a month to zero after coronavirus caused the chain to shut comple
  
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• London restaurant offers ‘war bonds’ to ease cash flow strains

  21-04-2020 05:00 via ft.com
  High-end outlets across the capital launch voucher schemes to raise funds from customers
  
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• FT ranking: Asia-Pacific High-Growth Companies

  21-04-2020 03:30 via ft.com
  Coronavirus means many businesses face an uncertain future but the region’s fundamentals will aid recovery
  
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• Liverpool ONE launches virtual enlivenment programme during lockdown

  21-04-2020 01:00 via theretailbulletin.com
  
  The Liverpool ONE shopping destination has introduced a range of online initiatives to help families stay entertained during lockdown. Having originally launched its Dinosaurs Unleashed event to... View Article
  
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• Joules adds £15 million to existing revolving credit facility

  21-04-2020 01:00 via theretailbulletin.com
  
  Joules has confirmed that it has added an extra £15 million to its existing revolving credit facility with Barclays Bank. The news follows the lifestyle clothing... View Article
  
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• Ingenico Enterprise Retail secures finalist place at Retail Systems Awards 2020

  21-04-2020 01:00 via theretailbulletin.com
  
  This week Retail Systems Awards announced its shortlist, highlighting Ingenico Enterprise Retail as a top contender for Omnichannel Solution of the Year. Now in its 15th... View Article
  
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