Retail news

• Five more Debenhams stores to shut for good with 1,000 jobs at risk

  06-05-2020 21:05
  
  16 of retailer’s 142 stores now permanently closed after it fell into administration last month
  Debenhams will permanently close a further five of its department stores, all located in shopping centres owned by the property firm Hammerson, putting 1,000 jobs at risk.The news came as Hammerson’s deal to sell its retail parks to the private equity firm Orion also collapsed. Debenhams fell into administration for the second time in a year last month, as it sought to protect itself from
  
  Read more

• Ocado hit by protest vote against pay rise and bonus for directors

  06-05-2020 20:30
  
  Grocer will not change plans despite opposition of almost 30% of shareholders
  Coronavirus – latest updatesSee all our coronavirus coverageOcado has been hit by a 30% protest vote against a pay rise and £88m bonus for the online grocer’s directors.The company said it was not changing its pay plans despite the revolt, representing 29.75% of shares voted at Ocado’s annual shareholder meeting on Wednesday. Continue reading...
  
  Read more

• More Ocado investors rebel against executive pay

  06-05-2020 20:27
  Almost 30% of shareholders vote against remuneration report
  
  Read more

• Shopify: customer service

  06-05-2020 18:40
  Retail services group’s new Shop app needs a price gimmick to lure buyers in
  
  Read more

• Advertisement

• LK Bennett mulls head office sale, resulting in job losses

  06-05-2020 17:49 via retailgazette.co.uk
  // LK Bennett is mulling sale of London head office
  // 10 head office roles have been placed into “high risk” consultation
  // The roles include the senior managers in teams across finance, IT, HR, and designLK Bennett has reportedly said it is mulling the sale of its London head office in an effort to survive through the coronavirus pandemic.
  The womenswear retailer will remove 10 senior managers from the head office team structure as part of its campaign to cut costs, Drapers report
  
  Read more

• Ocado: carrying it off

  06-05-2020 17:46
  Retail sales rise by 40 per cent in second quarter
  
  Read more

• JD Sports attacks regulator for blocking Footasylum merger

  06-05-2020 16:39
  
  Competition and Markets Authority’s ‘absurd’ decision fails to take account of coronavirus fallout, chain saysJD Sports Fashion has criticised the competition watchdog for paving the way for potential job losses after the retailer was blocked from merging with a struggling rival, Footasylum.Peter Cowgill, executive chairman of the UK’s largest sports retailer, said the company “fundamentally disagreed” with the Competition and Markets Authority’s decisio
  
  Read more

• COMMENT: Usdaw & BRC working together to bring retail safely out of lockdown

  06-05-2020 16:32 via retailgazette.co.uk
  Retailers have been getting ready for exiting lockdown for some time and every business should have a detailed plan for how to start trading again.
  Safety of colleagues and customers is paramount and that is why retailers should follow the guidance document published last week by BRC and Usdaw, which lays out detailed actions they can take to operate stores safely once they’re allowed to start trading again.
  This guidance has been based on the hard-won experience of those retailers that ha
  
  Read more

• Advertisement

• Ocado sales rise 40% as Covid-19 prompts online shopping surge

  06-05-2020 15:18
  
  Additional costs related to pandemic could temper profit gain, says finance chief Coronavirus – latest updatesSee all our coronavirus coverageOcado has reported a 40% increase in sales since 1 March as the online grocer benefited from high demand for home deliveries during the coronavirus pandemic.However, the company does not expect a boost to profits because of additional costs related to managing the crisis, including a 10% bonus for workers, testing delivery drivers for Covid-19 and fu
  
  Read more

• B2B Digital Experience Report 2020

  06-05-2020 15:00 via retailgazette.co.uk
  A View of the B2B Experience Market in the Wake of COVID-19
  Download Episerver’s global survey of 600 leaders in marketing, IT and ecommerce roles at B2B companies to learn how they rank their strengths, weaknesses, opportunities and threats as it relates to B2B digital experience.
  Download the report
  This report provides B2B leaders a non-promotional view of the B2B digital experience market. You get a snapshot of the data through the lens of industry changes in the wake of COVID-19.
  Key
  
  Read more

• Shopify surges as retailers rush online

  06-05-2020 14:17
  Shares at Canadian ecommerce group set to hit record high as revenues jump 47%
  
  Read more

• Business rates revaluation will no longer take place in 2021

  06-05-2020 13:48 via retailgazette.co.uk
  // Business rates revaluation that was due in 2021 has now been postponed
  // Government made the decision to provide more certainty for retailers amidst coronavirus criris
  // Property and business rates experts welcomed the newsThe UK Government has announced that the proposed business rates revaluation in 2021 in England will now be postponed.
  In a statement, Communities Secretary Robert Jenrick MP confirmed that the revaluation of business rates will no longer take place in 2021 in order to he
  
  Read more

• The demise of the US department store

  06-05-2020 13:09
  
  The coronavirus outbreak has accelerated the decline of America’s favourite shopping institution
  
  Read more

• Further store closures loom as Clarks calls in KPMG, Deloitte and PwC

  06-05-2020 13:00 via retailgazette.co.uk
  // Clarks calls in KPMG, Deloitte and PwC to work on a potential restructuring amid Covid-19
  // Clarks remains largely owned by descendants of Cyrus and James Clark, who founded the business in 1825Clarks has reportedly drafted in three of the Big 4 accountancy firms to work on a potential restructuring as it seeks to survive through the coronavirus pandemic.
  Clarks’ family shareholders have drafted in KPMG to advise them, while Deloitte has been hired by the company’s management tea
  
  Read more

• UK supermarkets begin plans to sell face masks

  06-05-2020 12:49 via retailgazette.co.uk
  // UK supermarkets are planning to start selling face masks to the public
  // French Supermarkets have already faced backlash for starting to sell face masksUK supermarkets are preparing to begin selling face masks, amid growing speculation they will be recommended for public use as part of the government’s plans post lockdown.
  The Grocer reported that some retailers are hesitant to launch the products, amid fears they will be seen to be diverting masks away from the NHS, amid continued rep
  
  Read more

• Amazon employee from facility at centre of safety controversy dies of COVID-19

  06-05-2020 12:02 via chargedretail.co.uk
  
  An Amazon employee from its Staten Island fulfilment centre has died of COVID-19, raising serious concerns about the safety of its workers.
  Amazon’s JFK8 facility in New York’s Staten Island has been at the forefront of the controversy surrounding the online giant’s protection of staff during the outbreak.
  In late March Amazon sacked Chris Smalls, a worker at the Staten Island facility who had organised strikes to protest working conditions and safety measures at the facility d
  
  Read more

• Hammerson’s £400m retail park sale collapses as buyer pulls out

  06-05-2020 11:21 via retailgazette.co.uk
  // Hammerson retail parks sale called off as firm pulls out of £400m deal
  // Private equity firm Orion said last month that it did not intend to complete the dealHammerson has announced that the sale of its retail parks has been called off after private equity firm Orion pulled out of the £400 million deal.
  Hammerson said it had a deposit of £21 million that had been held in escrow by its solicitors after Orion European Real Estate Fund held firm in its decision not to proceed
  
  Read more

• M&S expands Deliveroo partnership enabling rapid delivery of 130 items in hundreds of locations

  06-05-2020 11:07 via chargedretail.co.uk
  
  Marks & Spencer is expanding its partnership with Deliveroo enabling customers stuck at home to order from over 140 stores.
  In March the grocer announced that it was offering online delivery of its food for the first time in its history amid a new partnership with Deliveroo.
  High demand for home deliveries during lockdown has encouraged the retailer to further expand this the number of stores offering grocery delivery from around 120 to 142.
  M&S said it was also significantly expanding t
  
  Read more

• Halfords expects strong full-year profits despite sales decline

  06-05-2020 10:23 via retailgazette.co.uk
  // Halfords expects full-year profits for the financial year to come in at the top end of the expected range
  // Results for financial year 2020 boosted by better than expected sales during lockdownHalfords has said it anticipates full-year profits for the financial year to come in at the top end of the expected range as lockdown has seen customers “explore alternatives to public transport”.
  The cycling and autocentre retailer said results for the financial year 2020 had been boosted
  
  Read more

• Primark looking for space to store £1.5bn surplus stock

  06-05-2020 10:09 via retailgazette.co.uk
  // Primark hires Savills to help find space to temporarily store its excess stock ordered before the lockdown
  // It’s seeking 400,000sq ft of warehouse space on a short-term lease to store the £1.5bn worth of inventory from overseasPrimark has reportedly drafted in real estate company Savills to help find space to temporarily store its excess stock ordered before the coronavirus lockdown.
  According to Property Week, the retailer is looking for up to 400,000sq ft of warehouse space in
  
  Read more

• Card Factory online sales skyrocket 267.5% as it prepares store reopenings

  06-05-2020 09:54 via retailgazette.co.uk
  // Card Factory online sales rise 267.5% during UK lockdown
  // The retailer established a second fulfilment unit in Wakefield
  // It is now preparing to reopen store operationsCard Factory has seen its online sales rise during the Covid-19 pandemic, and it is now working towards preparing store operations for a reopening post lockdown.
  The greeting card retailer’s online sales rocketed by 267.5 per cent since the beginning of the UK lockdown on March 23.
  In response to this increased demand
  
  Read more

• Ocado suspends guidance despite sales surge

  06-05-2020 09:49
  Quarterly revenue up 40% but online grocer says uncertainties remain over consumer behaviour
  
  Read more

• Ocado suspends guidance despite 40% sales surge

  06-05-2020 09:49
  Online grocer points to additional costs and uncertainty about consumer behaviour
  
  Read more

• Chancellor mulls winding down options for furlough scheme

  06-05-2020 09:32 via retailgazette.co.uk
  // Chancellor Rishi Sunak considering options on tapering off the government’s furlough scheme
  // He is expected to announce plans next week on how to wind down the scheme from July
  // Options include cutting the subsidy level and lowering the £2500 cap on monthly payments, although Treasury insists no decision made yetChancellor Rishi Sunak is considering his options on tapering off the government’s furlough scheme which is supporting workers staying at home during the coronav
  
  Read more

• JD Sports turns on Mike Ashley as Footasylum deal blocked

  06-05-2020 09:30
  Chairman accuses Sports Direct of participating in process for ‘own commercial interests’
  
  Read more

• McColl’s CFO Robbie Bell jumps ship for Holland & Barrett

  06-05-2020 09:23 via retailgazette.co.uk
  // Robbie Bell announces his resignation as McColl’s CFO and will move to Holland & Barrett for a similar role
  // He will remain with McColl’s until a new CFO is revealed and to ensure a smooth transitionMcColl’s chief financial officer Robbie Bell has resigned from the convenience grocery chain to take up a similar position with health and wellbeing retailer Holland & Barrett.
  With Bell also resigning from McColl’s board, the retailer said it has now commenced th
  
  Read more

• CMA blocks JD Sports’ £90m takeover of Footasylum

  06-05-2020 09:11 via retailgazette.co.uk
  // CMA blocks JD Sports’ move to buy rival Footasylum for £90m
  // CMA says it would lead to a substantial lessening of competition & fewer discounts
  // JD Sports “fundamentally disagrees” with the decision, accusing CMA of failing to understand the retail landscapeThe UK’s peak competition watchdog authority has blocked JD Sports’ move to buy rival Footasylum for £90 million, 14 months after the takeover deal was first agreed.
  Following an in-depth P
  
  Read more

• CMA blocks JD Sports’ £90m takeover bid of Footasylum

  06-05-2020 09:11 via retailgazette.co.uk
  // CMA blocks JD Sports’ move to buy rival Footasylum for £90m
  // CMA says it would lead to a substantial lessening of competition & fewer discounts
  // JD Sports “fundamentally disagrees” with the decision, accusing CMA of failing to understand the retail landscapeThe UK’s peak competition watchdog authority has blocked JD Sports’ move to buy rival Footasylum for £90 million, 14 months after the takeover deal was first agreed.
  Following an in-depth P
  
  Read more

• Plant-based burgers to compete with real meat prices

  06-05-2020 01:18
  Beyond Meat and Impossible Foods spy retail opportunities as meat industry struggles with virus
  
  Read more

• Wayfair posts 19.8% surge in first quarter revenue

  06-05-2020 01:00 via theretailbulletin.com
  
  Online homewares retailer Wayfair has seen its first quarter revenue climb by 19.8% to $2.3 billion after it grew its number of active customers by 28.6%... View Article
  
  Read more

• The North Face opens applications for €1.5 million covid-19 fund

  06-05-2020 01:00 via theretailbulletin.com
  
  Outdoor brand The North Face has opened the application process for a new covid-19 related fund that will provide critical financial support for the global outdoor... View Article
  
  Read more

• The Hut Group donates 25 tonnes of PPE to Greater Manchester NHS

  06-05-2020 01:00 via theretailbulletin.com
  
  The Hut Group has donated 3.5 million units of personal protective equipment to the health and care system in Greater Manchester. In recent weeks, the company... View Article
  
  Read more

• Ocado sales surge by over 40%

  06-05-2020 01:00 via theretailbulletin.com
  
  Online grocer Ocado has reported a 40.4% year-on-year uplift in retail revenue so far in its second quarter as it continues to benefit from a large... View Article
  
  Read more

• Independent retailers welcome postponement of revaluation of business rates

  06-05-2020 01:00 via theretailbulletin.com
  
  Independent retailers have welcomed news that next year’s revaluation of business rates has been postponed. However, they are still calling for the business rates system to... View Article
  
  Read more

• CMA blocks JD Sports’ takeover of Footasylum

  06-05-2020 01:00 via theretailbulletin.com
  
  The Competition and Markets Authority has blocked JD Sports Fashion’s £90 million takeover of Footasylum after deciding that the move would lead to a “substantial lessening... View Article
  
  Read more

• Card Factory sees significant growth in online sales

  06-05-2020 01:00 via theretailbulletin.com
  
  Greeting cards retailer Card Factory has said it has seen significant growth in the number of visitors, conversion and sales on its websites during the coronavirus... View Article
  
  Read more

• Brompton Bicycle launches virtual in-store video service

  06-05-2020 01:00 via theretailbulletin.com
  
  Brompton Bicycle has launched a new personal video shopping experience to help bring its in-store expertise to online customers. Called Brompton Live In-Store Expert, the video... View Article
  
  Read more

• 5 industries (still) thriving in the Coronavirus lockdown

  06-05-2020 01:00 via theretailbulletin.com
  
  At the start of April, Mention Me wrote about 5 industries booming in sales and referrals during the Covid-19 pandemic. It was reassuring to note that,... View Article
  
  Read more

Follow @retailuknws on Twitter!