Retail news

• Apple’s sales increase despite store closures

  30-04-2020 22:51 via ft.com
  iPhone maker beats Wall Street forecasts with quarterly decline in net profit of just 2.7%
  
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• Amazon posts $75bn first-quarter revenues but expects to spend $4bn in Covid-19 costs

  30-04-2020 22:11 via theguardian.com
  
  Earnings in first three months equivalent to $33m an hourCompany says it will spend on PPE, cleaning and higher wagesAmazon emerged as one of the big winners of the coronavirus pandemic on Thursday, announcing it had revenues of $75.4bn in the first three months of the year – over $33m an hour. Related: Coronavirus US live: intelligence report concludes Covid-19 was not 'manmade or genetically modified'Continue reading...
  
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• Amazon posts $75bn first-quarter revenues as Bezos's wealth soars amid pandemic

  30-04-2020 22:11 via theguardian.com
  
  Earnings in first three months equivalent to $33m an hourAmazon hiring at furious pace as other companies lay off staffAmazon emerged as one of the big winners of the coronavirus pandemic on Thursday, announcing it had revenues of $75.4bn in the first three months of the year – over $33m an hour. Related: Coronavirus US live: intelligence report concludes Covid-19 was not 'manmade or genetically modified'Continue reading...
  
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• Shell shows prudence on dividend, but no remorse on $16bn share buybacks | Nils Pratley

  30-04-2020 20:51 via theguardian.com
  
  As coronavirus sorts stock market winners from losers at startling speed, buybacks prove costlyA title on Ben van Beurden’s bookshelf in his video message to Shell investors captured the mood – Fall of Giants by Ken Follett. A pillar of the UK stock market has tumbled. Shareholders have been sure of Shell’s dividend since the second world war, but now the distribution has been cut by two-thirds. The chief executive himself called the decision “monumental”.It looks t
  
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• Greggs halts plan to reopen stores after fears of crowds

  30-04-2020 19:07 via ft.com
  Bakery chain’s proposed trial of 20 shops thwarted by social media response
  
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• B&Q, Homebase and Pret reopen more stores with safety measures

  30-04-2020 18:54 via theguardian.com
  
  B&Q stores across UK reopen, with customer limits, card-only payments and checkout screensCoronavirus – latest updatesSee all our coronavirus coverageB&Q has reopened all of its stores across the country, while another 20 Pret a Manger sandwich shops will open on Friday as the number of businesses resuming trading continues to grow.B&Q said all 288 of its UK shops were now open to the public, albeit with strict new safety measures in place. The DIY chain is classed as an essent
  
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• How can retailers revive physical store sales after lockdown?

  30-04-2020 17:59 via retailgazette.co.uk
  It’s no secret by now that the coronavirus pandemic has not only triggered a deterioration on the UK’s high streets, it’s also forced a dramatic change in spending habits and impacted the lives of those in the retail workforce.
  The ONS’s Business Impact of Coronavirus Survey found that between March 23 and April 5, 27 per cent of workers across 6150 businesses were furloughed, with the hope of returning once stores are allowed to reopen.
  The pandemic also prompted major r
  
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• Pandemic will 'vastly accelerate' decline of UK high street, MPs warned

  30-04-2020 17:53 via theguardian.com
  
  Not all businesses will make it through coronavirus lockdown, warns head of BPFCoronavirus – latest updatesSee all our coronavirus coverageThe coronavirus pandemic will “vastly accelerate” the decline of the British high street, where the number of shops could more than halve in the next two years, MPs have been told.The chief executive of the British Property Federation, Melanie Leech, said “inevitably there will be casualties” among retailers and that a likely 50%
  
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• Pandemic will 'vastly accelerate' decline of UK high street, MPs told

  30-04-2020 17:53 via theguardian.com
  
  Not all businesses will make it through coronavirus lockdown, warns head of federationCoronavirus – latest updatesSee all our coronavirus coverageThe coronavirus pandemic will “vastly accelerate” the decline of the British high street, where the number of shops could more than halve in the next two years, MPs have been told.The chief executive of the British Property Federation, Melanie Leech, said “inevitably there will be casualties” among retailers, and that pred
  
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• Oasis and Warehouse chains close with loss of more than 1,800 jobs

  30-04-2020 17:41 via ft.com
  Retail brands’ online outlets, stores and concessions in UK to shut ‘indefinitely’
  
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• Lidl opens its most central London store yet

  30-04-2020 17:19 via retailgazette.co.uk
  // Lidl opens its most central London store yet on Tottenham Court Road
  // The new store will serve NHS workers at the nearby University College Hospital as well as locals
  // Lidl is also donating snack products and fruit & veg to NHS staff at the nearby hospitalLidl has opened its most central London store yet on Tottenham Court Road.
  The new 14,854sq ft store, of which plans were first announced last year, is opposite Warren Street tube station and immediately next to University Colle
  
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• 20% of high street shops won’t re-open after lockdown, MPs warned

  30-04-2020 16:44 via retailgazette.co.uk
  // 1/5 of high street shops won’t reopen after the coronavirus lockdown, MPs warned
  // 69%  of non-food retailers have been “significantly” impacted by the pandemic
  // Only 20% of Bira members have attempted to access govt’s business interruption loans because they “don’t see debt as the solution”One-fifth of high street stores plan to stay closed permanently after the coronavirus lockdown unwinds, retail leaders have warned MPs.
  British Independent
  
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• B&Q re-opens full store estate as lockdown continues

  30-04-2020 15:53 via retailgazette.co.uk
  // B&Q reopens all 288 its stores across the UK as the coronavirus lockdown continues
  // It started re-opening stores two weeks ago, with the last wave of stores reopening today
  // B&Q initially shut its sites to implement safety measures before gradually reopening themB&Q has reopened all of its stores across the UK as the coronavirus lockdown continues.
  The DIY retailer said it gradually reopened its 288 UK stores over the past two weeks, with its last remaining sites opening their
  
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• Bargain Booze, Wine Rack owner to sign 200 stores up with Uber Eats to ensure “vital products” can reach vulnerable

  30-04-2020 14:05 via chargedretail.co.uk
  
  Wine Rack, Bargain Booze and Select Convenience stores’ expanding their partnership with Uber Eats to ensure vulnerable shoppers have access to their goods during lockdown.
  Bestway, which owns the three chains alongside the Central Convenience Stores brand, said it aims to sign up 200 stores across the UK by the end of May.
  In December, Bestway signed a partnership with the delivery giant, adding 81 of its branded stores to the Uber Eats app, but it is now accelerating the roll out of the
  
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• Further 1800 jobs cut in Oasis & Warehouse administration deal

  30-04-2020 13:59 via retailgazette.co.uk
  // More than 1800 jobs cut as Oasis & Warehouse administrators fail to find buyer for the whole business
  // IP and stock sold to restructuring expert Hilco Capital, but Hilco decided not to buy the rest of the business
  // Administrators say Oasis & Warehouse’s stores will close indefinitely & online sales will be stoppedMore than 1800 workers are set to lose their jobs at Oasis and Warehouse and two other brands, after administrators said they were unable to find a buyer for th
  
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• Oasis and Warehouse to permanently close, with loss of 1,800 jobs

  30-04-2020 13:57 via theguardian.com
  
  Brands will close all stores and online shop after administrators failed to secure rescue dealOasis and Warehouse are to permanently close all their stores and online shop with the loss of more than 1,800 jobs after administrators said they had been unable to secure a rescue deal for the fashion chains.The two brands have been sold to the restructuring firm Hilco, the owner of the Homebase DIY chain, in a deal which includes their stock but not their 92 standalone stores or about 400 concessions
  
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• Oasis and Warehouse to close permanently, with loss of 1,800 jobs

  30-04-2020 13:57 via theguardian.com
  
  Brands will close all stores and online shopping after administrators failed to secure rescue dealOasis and Warehouse are to permanently close all their stores and online shopping with the loss of more than 1,800 jobs after administrators said they had been unable to secure a rescue deal for the fashion chains.The two brands have been sold to the restructuring firm Hilco, the owner of the Homebase DIY chain, in a deal which includes their stock but not their 92 standalone stores or about 400 con
  
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• I Saw It First launches t-shirts for Captain Tom’s 100th Birthday

  30-04-2020 12:22 via retailgazette.co.uk
  // In honour of Captain Tom Moore’s 100th birthday I Saw It First launches charity t-shirt range
  // All profits from the launch will be going to the NHSManchester based fast-fashion retailer I Saw It First has launched three charity t-shirts in honour of Captain Tom Moore’s 100th birthday today.
  All of the profits will be going directly to the NHS.
  The collection is available online today and the retailer aims to raise money for the NHS as well as awareness of “the amazing stre
  
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• Supermarkets urged to be more tolerant of single parents in lockdown

  30-04-2020 12:02 via theguardian.com
  
  There have been reports of parents in Scotland being turned away for bringing children alongCoronavirus – latest updatesSee all our coronavirus coverageSupermarkets have been urged to welcome all families “with kindness and compassion” after reports of single parents across Scotland being challenged or turned away by staff and abused by members of the public as they try to shop with their children.Bruce Adamson, the children and young people’s commissioner for Scotland, s
  
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• Supermarkets urged to be kinder to single parents in lockdown

  30-04-2020 12:02 via theguardian.com
  
  There have been reports of parents in Scotland being turned away for bringing children alongCoronavirus – latest updatesSee all our coronavirus coverageSupermarkets have been urged to welcome all families “with kindness and compassion” after reports of single parents across Scotland being challenged or turned away by staff and abused by members of the public as they try to shop with their children.Bruce Adamson, the children and young people’s commissioner for Scotland, s
  
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• Zalando starts selling “non-medical” face masks despite public backlash

  30-04-2020 11:59 via chargedretail.co.uk
  
  Zalando has become the latest fashion retailer to begin selling face masks to “people to protect others around them and preserve medical masks for health care professionals”.
  The online fashion giant said a range of “non-medical” face masks starting from just €1 will now be available to purchase across all 17 of its markets.
  All profits from face mask sales will be donated to international medical charity Humedica, which is working to fight the spread of COVID-19 acr
  
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• M&S bolsters boardroom with two new appointments

  30-04-2020 11:46 via retailgazette.co.uk
  // M&S appoints 2 new non-executive directors to the boardroom
  // Tamara Ingram and Sapna Sood will join the retailer on May 21
  // Their appointments aim to support M&S’s transformation “challenge”Marks & Spencer has announced the appointment of two new board members to help steer the retailer’s transformation “challenge”.
  Tamara Ingram and Sapna Sood will join the high street stalwart as non-executive directors on May 21.
  Ingram, who has a leaders
  
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• Westfield hints centre reopenings as Covid-19 has “limited effect” on business

  30-04-2020 11:32 via retailgazette.co.uk
  // Westfield said it is ready to open stores with safety precautions
  // The centre owner said Covid-19 has had a “limited effect” on its businessWestfield shopping centre owner Unibail-Rodamco-Westfield (URW) has said the coronavirus pandemic only had a “limited effect” on revenue in the first three months of 2020.
  However, the company warned that Covid-19 is expected to impact business heavily in the second quarter.
  Turnover for the first quarter rose by 1.8 per cent to
  
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• Coronavirus: Reiss donates 10,000 face masks & 900 scrubs to NHS

  30-04-2020 11:27 via retailgazette.co.uk
  // Reiss is donating 10,00 face masks across different NHS trusts amid Covid-19
  // Reiss is also supporting Style for Surgeons with a fabric donation to produce over 900 scrubsReiss has announced a set of initiatives to support the NHS amid the ongoing Coronavirus outbreak.
  In response to the critical shortage of protective personal equipment (PPE) for the NHS, Reiss has utilised its supply chain, stores and partners to help support the production and distribution of PPE.
  The first of the initia
  
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• Intu shopping centres at threat as bondholders eye key assets

  30-04-2020 10:00 via retailgazette.co.uk
  // Intu bondholders are currently drawing up plans which could see them take control of assets
  // Law firm Clifford Chance and investment bank Moelis & Company have been appointed to advise bondholdersIntu could reportedly lose some of its key retail assets as early as June, as bondholders draw up plans to take control of the assets.
  Law firm Clifford Chance and investment bank Moelis & Company have been appointed to advise bondholders of £1.3 billion of debt secured against some o
  
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• Shoe Zone cancels final dividend and warns of Covid-19 impact

  30-04-2020 09:42 via retailgazette.co.uk
  // Shoe Zone cancels final dividend due to Covid-19 impact
  // Turnover dropped by 3.4% to £69.9m for the half yearShoe Zone has scrapped its final dividend for the year to October 5 as turnover for the six months to March 31 took a hit due to the coronavirus lockdown.
  Turnover dropped by 3.4 per cent to £69.9 million for the half year, compared with the same period in the previous year.
  Shoe Zone said it will suspend dividend payments until it has rebuilt cash balances to a higher le
  
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• Shoe Zone cancels final dividend & warns of Covid-19 impact

  30-04-2020 09:42 via retailgazette.co.uk
  // Shoe Zone cancels final dividend due to Covid-19 impact
  // Turnover dropped by 3.4% to £69.9m for the half yearShoe Zone has scrapped its final dividend for the year to October 5 as turnover for the six months to March 31 took a hit due to the coronavirus lockdown.
  Turnover dropped by 3.4 per cent to £69.9 million for the half year, compared with the same period in the previous year.
  Shoe Zone said it would suspend dividend payments until it has rebuilt cash balances to a higher l
  
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• Sainsbury's boss says coronavirus disruption will last until mid-September

  30-04-2020 09:27 via theguardian.com
  
  Bill for sick pay and safety measures for staff and shoppers will run to £500m, says Mike CoupeCoronavirus – latest updatesSee all our coronavirus coverageThe boss of Sainsbury’s has said disruption from the coronavirus outbreak will last until at least mid-September, and that physically distanced queues are likely to remain “for the foreseeable future”.Mike Coupe, the chief executive of the UK’s second-largest supermarket chain, said the retailer would take a
  
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• Next & Dixons Carphone call for furlough clarity to avoid layoffs

  30-04-2020 09:19 via retailgazette.co.uk
  // Next & Dixons Carphone execs call for furlough scheme clarity to avoid mass redundancies
  // The retailers said government support for jobs will end before they can resume operationsNext and Dixons Carphone bosses have reportedly urged the government to provide answers over the taxpayer-funded furlough scheme as concerns grow over a wave of redundancies.
  The retailers expressed fears that government support for jobs will end before companies can resume operations and start paying staff aga
  
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• Sainsbury’s defers dividend decision and cancels bonuses

  30-04-2020 09:08 via ft.com
  Supermarket group expects prolonged weakness in non-food sales
  
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• Sainsbury’s defers dividend and cancels bonuses

  30-04-2020 08:43 via ft.com
  Supermarket group expects prolonged weakness in non-food sales
  
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• Coronavirus: Sainsbury’s warns of £500m hit as profits dip

  30-04-2020 08:32 via retailgazette.co.uk
  // Sainsbury’s underlying pre-tax profits drop 2% to £586m
  // Total grocery sales jumped 12% in the seven weeks to April 25Sainsbury’s has reported a decline in underlying full-year profits as it warns of a coronavirus hit of more than £500 million to the current year’s profits.
  The Big 4 grocer saw a two per cent fall in underlying pre-tax profits to £586 million for the year to March 7.
  On a statutory basis, pre-tax profits rose to £255 million fr
  
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• UK retailers miss out on coronavirus support schemes

  30-04-2020 06:00 via ft.com
  Banks reluctant to lend more to sector already struggling before the pandemic
  
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• Zalando to begin selling face masks

  30-04-2020 01:00 via theretailbulletin.com
  
  Zalando is to begin selling affordable textile masks on its online fashion store in  all 17 markets. All profits from the sales will be donated to... View Article
  
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• Unibail-Rodamco-Westfield ready to re-open centres when covid-19 restrictions are lifted

  30-04-2020 01:00 via theretailbulletin.com
  
  Unibail-Rodamco-Westfield has said it is ready to re-open its shopping centres and comply with all covid-19 health and safety regulations as soon as lockdown restrictions are... View Article
  
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• THG partners with Singapore Airlines and unveils plans to launch THG Air

  30-04-2020 01:00 via theretailbulletin.com
  
  The Hut Group has embarked on a partnership with Singapore Airlines as it looks to secure its international supply chain and product delivery across the Asia... View Article
  
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• The Hut Group partners with Singapore Airlines and unveils plans to launch THG Air

  30-04-2020 01:00 via theretailbulletin.com
  
  The Hut Group has embarked on a partnership with Singapore Airlines as it looks to secure its international supply chain and product delivery across the Asia... View Article
  
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• Sainsbury’s warns that covid-19 disruption could last until September

  30-04-2020 01:00 via theretailbulletin.com
  
  Sainsbury’s has warned that the covid-19 pandemic could cause disruption for its business until mid-September even if lockdown restrictions are eased by June. The supermarket also... View Article
  
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• Next sets out plans for re-opening stores

  30-04-2020 01:00 via theretailbulletin.com
  
  Next has revealed its plans for the re-purposing of its stores in preparation for their re-opening once covid-19 lockdown restrictions are eased. Some of the measures... View Article
  
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• Marks & Spencer strengthens board with two new non-exec directors

  30-04-2020 01:00 via theretailbulletin.com
  
  Marks & Spencer has strengthened its board with the hiring of two new non-executive directors. Tamara Ingram and Sapna Sood will both join the business on... View Article
  
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• COVID RESPONSE: Cybertill now selling Countertop Shields in fight against COVID

  30-04-2020 01:00 via theretailbulletin.com
  
  Cloud-based retail software company Cybertill is selling a retail solution for reducing the spread of germs for retailers of all sizes. In the current climate there... View Article
  
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• BRC appoints Tony DeNunzio as chairman elect

  30-04-2020 01:00 via theretailbulletin.com
  
  The British Retail Consortium has appointed Tony DeNunzio as chairman elect. He will succeed Richard Pennycook when he steps down at the end of his tenure... View Article
  
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• B&Q has now re-opened all 288 branches

  30-04-2020 01:00 via theretailbulletin.com
  
  B&Q has now re-opened all 288 of its branches following their closure at the start of the covid-19 lockdown. Like all DIY retailers, B&Q has been... View Article
  
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• Aldi to provide store staff with face masks

  30-04-2020 01:00 via theretailbulletin.com
  
  Aldi has begun offering store staff the option of wearing face masks when working throughout the coronavirus pandemic. The move follows Aldi’s previous announcement regarding the... View Article
  
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