Retail news

• Majority of UK cabinet want to cut 2m social distancing

  08-06-2020 20:32 via ft.com
  Johnson sympathetic to calls for relaxation of rule to boost the economy
  
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• Gap to offer discounts of up to 60% when it reopens

  08-06-2020 17:36 via retailgazette.co.uk
  // Gap to reopen with discounts of up to 60% on sale items
  // Full-price items to have discounts of up to 40%
  // Gap will reopen its 81 stores in England from June 15, as per government guidanceGap is poised to reopen all of its English stores with discounts of up to 60 per cent on sale items and up to 40 per cent off on full-priced items.
  The fashion retailer is set to open its 81 stores in England on June 15 as per government guidance on lockdown restrictions being eased for non-essential reta
  
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• Waterstones to reopen English stores next week

  08-06-2020 16:24 via retailgazette.co.uk
  // Waterstones confirms plans to reopen its stores in England from June 15
  // It will “fully” implement “extensive” health and safety measures in its shops
  // It will reopen stores in Scotland, Wales and Northern Ireland when government guidance allowsWaterstones has confirmed it will reopen the vast majority of its shops in England from June 15 while its stores in Scotland, Wales and Northern Ireland will remain in lockdown.
  The bookstore chain, which also owns Foyles, s
  
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• Mulberry plans to cut a quarter of its workforce

  08-06-2020 14:49 via ft.com
  Luxury handbag maker hit by fewer overseas visitors and social distancing in stores
  
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• UK audit watchdog drops probe into Tesco

  08-06-2020 14:46 via ft.com
  Decision by FRC ensures no individuals will be penalised over 2014 profit overstatement
  
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• Mulberry mulls plans to cut 350 jobs

  08-06-2020 13:36 via retailgazette.co.uk
  // Mulberry plans to cut 350 jobs or around 25% of its global workforce
  // The plans come as it forecast slow recovery as its stores around world gradually exit lockdownsMulberry has unveiled plans to axe around 350 jobs across its global workforce as the luxury retailer endures ongoing uncertainty amid the coronavirus pandemic.
  The firm, which employs 1400 people in total, has launched a consultation process on its proposals to make around 25 per cent of its workforce redundant.
  While Mulberry
  
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• Mulberry to cut 25% of global workforce as coronavirus hits sales

  08-06-2020 12:48
  
  Luxury British brand launches consultation with 470 staff whose jobs are at riskCoronavirus – latest updatesSee all our coronavirus coverageThe luxury British brand Mulberry is planning to cut at least 25% of its global workforce of almost 1,400, to reduce costs as sales have suffered because of the coronavirus pandemic.The company, which employs 1,140 staff in the UK, is seeking to make the cuts across its entire business, from head office and retail to manufacturing and distribution. Rel
  
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• Morrisons extends scheme to give immediate payments for small suppliers

  08-06-2020 12:48 via retailgazette.co.uk
  // Morrisons to extend immediate payments for small suppliers for a further three months
  // The scheme was first announced in March and was due to end in May. It’s now extended to September
  // The continued closure of the hospitality sector means many small businesses continue to suffer cashflow problemsMorrisons has announced plans to extend its scheme of making immediate payments to smaller suppliers for another three months as the coronavirus pandemic continues to linger.
  The Big 4 groc
  
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• Jeff Bezos slams Amazon customer who called Black Lives Matter banner “very offensive to me”

  08-06-2020 12:36 via chargedretail.co.uk
  
  Amazon’s chief executive Jeff Bezos has publicly pledged his support for the Black Lives Matter (BLM) movement after sharing his response to an angry “all lives matter” email.
  Bezos shared an email from an angry Amazon customer called Macy on his Instagram, who reached out to him directly to complain about a prominent BLM banner on the website.Macy said that the banner was “quite disturbing” and that “to blast this on your website is very offensive to me&rdquo
  
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• Americans spend billions to look good in lockdown

  08-06-2020 12:00 via ft.com
  US retailers benefit from DIY beauty boom following closure of salons, barbers and spas
  
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• Grubhub shares skyrocket as Uber Eats deal could be usurped by Just Eat

  08-06-2020 11:39 via chargedretail.co.uk
  
  Grubhub has seen its share prices skyrocket after reports emerged that Just Eat and Delivery Hero are both interested in exploring a takeover deal.
  Uber Eats last month reportedly tabled a takeover deal for Grubhub in a move which would see the combines entity become the largest food delivery company in the US.
  This marked the latest in a swathe of acquisitions and consolidations in the industry, with JustEat.com completing its takeover of Takeaway.com and Amazon entering a tie-up with Deliveroo
  
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• Tapi Carpets backers invest £16m to support battle against Carpetright

  08-06-2020 11:38 via retailgazette.co.uk
  // Tapi Carpets announces new goal to become UK’s leading carpet & flooring operator within next five years
  // The retailer has 137 shops in the UKTapi Carpets shareholders including Lord Harris of Peckham have injected £16 million into the carpet retailer to support it during its battle with rival Carpetright.
  The retailer, which has 137 shops, recruited James Sturrock, 51, the former boss of Eve Sleep, as chief executive last month.
  It is understood that the £16 million c
  
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• B&M to reveal full year sales jump thanks to Covid-19

  08-06-2020 11:34 via retailgazette.co.uk
  // B&M set to reveal strong full-year trading when it publishes results on Thursday
  // 6.6% uptick in quarterly like-for-likes expected, boosted by 27% surge from in-store sales due to coronavirusB&M is expected to reveal strong trading at the end of the past financial year after it was boosted by the stockpiling of store cupboard essentials.
  Last month, its parent company B&M European Value Retail also hailed a resilient start to the current period as its stores remained open to cus
  
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• Lookers warns of share suspension as it again delays 2019 results

  08-06-2020 11:29 via ft.com
  UK car dealership pushed back publication in March after uncovering ‘potentially fraudulent’ transactions
  
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• Primark forces landlords to sign gagging orders on rents

  08-06-2020 10:00 via retailgazette.co.uk
  // Primark agrees to pay select group of landlords ahead of June’s quarterly rent day
  // It has forced them to sign gagging orders — after refusing to pay millions of pounds to othersPrimark has reportedly agreed to pay a select group of landlords ahead of June’s quarterly rent day, but has forced them to sign gagging orders — after refusing to pay millions of pounds to others.
  In March, the fast fashion retailer withheld a reported £33 million of quarterly pay
  
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• LVMH promotes Tag Heuer digital boss to CEO

  08-06-2020 09:39 via retailgazette.co.uk
  // Tag Heuer parent company LVMH promotes the watch retailer’s chief strategy and digital officer to CEO
  // Frédéric Arnault has been working with Tag Heuer since 2017LVMH has promoted the chief strategy and digital officer of luxury watch retailer Tag Heuer, Frédéric Arnault, to the position of chief executive.
  Arnault has been working with Tag Heuer since 2017. In his new position, he will be responsible for supporting innovation and accelerating the watch ret
  
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• Watchdog ends five-year investigation into Tesco’s accounting scandal

  08-06-2020 08:56 via retailgazette.co.uk
  // The UK’s Financial Reporting Council’s 5-year investigation into Tesco’s accounting scandal concludes
  // The watchdog had been probing a £250m overstatement of Tesco’s profit in 2014Tesco has reportedly seen a five-year investigation by the UK’s Financial Reporting Council into a major accounting scandal come to an end, more than a year after a trial of two former executives failed.
  The watchdog had been probing a £250 million overstatement of th
  
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• Retail footfall improves in May thanks to warm weather

  08-06-2020 08:21 via retailgazette.co.uk
  // Retail footfall improved during May, new research finds
  // Retail parks saw the biggest improvement thanks to the presence of home & DIY storesNew research has found that retail footfall in May improved slightly to a 73.3 per cent decline compared with 80.1 per cent in April, despite the ongoing Covid-19 crisis.
  Retail parks saw the biggest improvement, with footfall dropping by 55.1 per cent versus 68.1 per cent in April, due to home and DIY stores reopening, as well as the presence
  
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• Victoria’s Secret’s UK business enters administration

  08-06-2020 01:00 via theretailbulletin.com
  
  US lingerie brand Victoria’s Secret has announced that its UK arm has entered administration. The move has put more than 800 jobs at risk. The retailer... View Article
  
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• Schuh outlines store reopening plans

  08-06-2020 01:00 via theretailbulletin.com
  
  Footwear retailer has announced details of its first wave of store reopenings following the lifting of Covid-19 restrictions in England and Ireland. Three stores have reopened... View Article
  
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• Retail footfall down 73% in May

  08-06-2020 01:00 via theretailbulletin.com
  
  Retail footfall dropped by 73.3% in May as the Covid-19  lockdown continued across the UK. The figures  from Springboard reveal that retail parks fared best with... View Article
  
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• Morrisons ‘Doorstep Delivery’ service reaches 100,000 order milestone

  08-06-2020 01:00 via theretailbulletin.com
  
  Morrisons has said its new telephone shopping service for vulnerable and elderly people has now reached the milestone of 100,000 orders. The service is one of a number... View Article
  
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• Managing Change: Communication Is the Key

  08-06-2020 01:00 via theretailbulletin.com
  
  Guest post: Pam Colangelo, Retail Labor Manager, Logile: We hear the term change management often. Most people in business would agree it is important, but I... View Article
  
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• LVMH appoints new chief executive of Tag Heuer

  08-06-2020 01:00 via theretailbulletin.com
  
  LVMH has promoted Frédéric Arnault to the position of chief executive of the Tag Heuer watch brand. Arnault has been working with Tag Heuer since 2017... View Article
  
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• Ecommerce Report – How are home and garden retailers leading the way in ecommerce?

  08-06-2020 01:00 via theretailbulletin.com
  
  The home and garden industry is a fast growing ecommerce vertical, but with very specific challenges. The primary aim of this report from our friends at... View Article
  
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• AO expands logistics operation with third warehouse in Crewe

  08-06-2020 01:00 via theretailbulletin.com
  
  Online electricals retailer AO has opened a third warehouse in Crewe. The new 110,000 square foot facility means that AO now has just under 1,000,000 square... View Article
  
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