Retail news

• Ocado plans to raise £1bn as online deliveries boom in the UK

  10-06-2020 21:54
  
  Online shopping has almost doubled in recent months to 13% of the UK grocery marketCoronavirus – latest updatesSee all our coronavirus coverageOcado plans to raise more than £1bn from investors as the grocery delivery company looks to cash in on the boom in online deliveries sparked by the coronavirus pandemic.The company said it aims to raise £657m in an equity share placing with institutional and retail investors, as well as borrowing £350m via a convertible bond issue.
  
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• Just Eat Takeaway in merger talks with Grubhub

  10-06-2020 20:50
  Deal could create global online food delivery company valued at around $20bn
  
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• Ocado raises £1bn as online grocery booms

  10-06-2020 19:38
  Funds will bolster existing spending and facilitate new deals
  
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• Zara owner to close up to 1,200 fashion stores around the world

  10-06-2020 18:28
  
  Inditex seeks to boost online retailing as coronavirus causes 44% sales slump
  The owner of Zara will close as many as 1,200 stores around the world as the clothing retailer tries to boost online sales during the chaos wrought by the Covid-19 pandemic.Inditex said it would “absorb” between 1,000 and 1,200 mainly smaller stores, with losses concentrated among older shops from brands other than Zara. The Spanish company’s other brands include Bershka, Pull & Bear and Massimo D
  
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• How can retailers prioritise workers’ mental health post-lockdown?

  10-06-2020 18:14 via retailgazette.co.uk
  Employees’ mental health is costing UK employers up to £45 billion each year, according to a report released by Deloitte and mental health charity Mind earlier this year.
  As well as there being an ethical argument for retailers to support the mental health of their staff, there’s a clear economic one too.
  As a large section of retail saw itself catapulted into key worker status, it was clear that the anxiety and uncertainty of the sector’s role in the coronavirus pandemic
  
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• Just Eat Takeaway in talks for Grubhub

  10-06-2020 18:04
  Merger could create global online food delivery company
  
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• Just Eat Takeaway in deal talks with Grubhub

  10-06-2020 18:04
  Merger could create global online food delivery company
  
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• Morrisons faces AGM backlash on pensions

  10-06-2020 17:56
  CEO and COO to keep receiving contributions at 24% of salary against 5% for shop workers
  
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• M&S adds 25 clothing outlets to store reopening plans

  10-06-2020 17:51 via retailgazette.co.uk
  // M&S announces the re-opening of 25 clothing-only outlets as part of its store reopening plans
  // Staff are returning to implement the measures M&S has been operating across its foodhalls
  // Outlets will continue to play a critical role in helping M&S manage stockMarks & Spencer has confirmed it will now reopen all 25 of its clothing outlet stores in England from Monday, as per government guidance on lifting lockdown restrictions.
  The outlet shops in question don’t includ
  
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• Retail landlord Shaftesbiry swings to £288m half-year loss

  10-06-2020 17:20 via retailgazette.co.uk
  // Shaftesbury swings to half-year pre-tax loss of £287.6m compared to last year’s profit of £38.7m
  // It was forced to reduce the value of its portfolio by 7.9 per cent to £3.5 billion.Shaftesbury has swung into a loss as the retail property giant said the valuation of its portfolio dropped by more than £300 million.
  The London-based property firm said it faces a half-year pre-tax loss of £287.6 million in the six months ending March 31.
  This compares to a ye
  
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• Anger at huge shareholder payout as US chain Kohl's cancels $150m in orders

  10-06-2020 16:00
  
  Retailer paid $109m in dividends just weeks after cancelling clothing orders, leaving suppliers in Bangladesh facing financial crisis
  Kohl’s, one of the US’s largest clothing retailers, cancelled millions of dollars worth of existing orders from Bangladeshi and Korean garment factories just weeks before paying out $109m (£85m) in dividends to shareholders, the Guardian can reveal.The company cancelled orders of clothing worth approximately $100m from Korea and $50m from Bangald
  
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• How to retain customers for long term growth

  10-06-2020 15:54 via retailgazette.co.uk
  Turn first-time shoppers into loyal customers
  The definitive guide to customer retention
  Right now, more people than ever are at home. That’s causing online shopping and new customer acquisition for brands like yours to increase.
  But are you taking the right approach to keep these new shoppers coming back? Increasing customer retention by 5% can increase company revenue by between 25% and 95%. A loyal customer base could be the difference between your brand struggling or thriving, over the
  
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• Amazon removes t-shirt with photo of officer kneeling on George Floyd’s neck as it’s accused of “opportunism”

  10-06-2020 14:01 via chargedretail.co.uk
  
  Amazon has removed a t-shirt featuring an image of George Floyd with a policeman kneeling on his neck from its marketplace as it continues to face a backlash on social media.
  The children’s t-shirt was listed alongside other Black Lives Matter merchandise but was removed from sale as Amazon’s guidelines prohibit products that depict crime scene photos.
  “All sellers must follow our selling guidelines and those who do not will be subject to action including potential removal of t
  
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• Monsoon and Quiz launch insolvency proceedings

  10-06-2020 13:54
  ‘Pre-pack’ administrations cut UK fashion retailers’ rent obligations to landlords
  
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• [Webinar] The Experience Economy: Retail Trends Session

  10-06-2020 13:26 via retailgazette.co.uk
  From products to experiences and from profit to purpose, retail is changing at a rapid pace. How can you keep up?
  + Human-Focused, Tech Enabled Experiences: Retail winners have invested in giving guests the experiences they want in-store. What’s working and what’s not?+ Unified Commerce and Agile Infrastructure: Discover the one source of truth for retailers when in comes to customer data. Why does a data-first approach matter?+ Elo’s Vision and Mission for Empowering Customers
  
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• BRC warns “challenge is not over” as UK retail prepares to exit lockdown

  10-06-2020 13:12 via retailgazette.co.uk
  // BRC says “challenge is not over” as retailers move closer to exiting lockdown next week
  // Business Secretary Alok Sharma confirmed that non-essential shops in England will be able to reopen on June 15
  // All shops reopening must follow Covid-19 secure guidance that the government issued last monthRetail bosses have warned that many firms will continue to struggle with current two-metre distancing measures in place, after the government confirmed that non-essential shops can reope
  
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• US retail shows tentative signs of recovery

  10-06-2020 13:05
  Spending picks up faster than expected as authorities loosen lockdowns in world’s biggest economy
  
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• Zara owner to shut up to 1,200 stores as it sets out €2.7bn overhaul

  10-06-2020 12:41
  Spain’s Inditex to close smaller outlets and invest in IT systems as it emerges from pandemic
  
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• Inditex unveils €3bn strategy as it posts quarterly loss

  10-06-2020 12:41
  Zara owner puts aside provision for plan that includes closing smaller stores
  
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• Hunter CEO Vincent Wauters steps down amid restructure

  10-06-2020 12:29 via retailgazette.co.uk
  // Vincent Wauters will step down as Hunter CEO at the end of July to pursue new opportunities
  // Paolo Porta appointed as interim CEO while Hunter carries out search for a new permanent boss
  // Both Porta and chief restructuring officer Andrew Lawley will oversee Hunter’s strategic reviewHunter has announced that Vincent Wauters is set to step down from his role as chief executive at the end of July to pursue new opportunities.
  The wellington boots retailer said the decision for Wauters,
  
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• Restaurant Group, Monsoon Accessorize and Quiz to shut sites

  10-06-2020 12:03
  
  Decision by Frankie & Benny’s owner and fashion brands puts thousands of jobs at riskCoronavirus – latest updatesSee all our coronavirus coverageThe Restaurant Group and the fashion brands Monsoon Accessorize and Quiz have announced plans to close branches and renegotiate rents, putting thousands of jobs at risk, and underlining the impact of the coronavirus shutdown on businesses in the hospitality and retail sectors.The Restaurant Group, which owns the Frankie & Benny&rsquo
  
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• Apple launches in-store trade in and monthly payment plans to boost sales

  10-06-2020 11:44 via chargedretail.co.uk
  
  Apple is set to launch an in-store trade-in programme and monthly payment plan as it seeks to boost sales in the wake of the pandemic.
  Apple’s retail stores across the US and Canada will begin accepting customers’ old Macs in exchange for store credit from June 15.
  Customers trading in their old Macs and MacBooks can choose to put the value towards a new purchase immediately or have it placed on an Apple gift card for later use.
  Bloomberg also reported that Apple is due to launc
  
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• Vroom IPO: whip splash

  10-06-2020 11:35
  Used car website will have to spin its wheels a lot harder to justify its new $5.5bn value
  
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• The Hut Group sales smash £1bn in “significant year”

  10-06-2020 11:17 via retailgazette.co.uk
  // The Hut Group profits rise and total sales surpass £1 billion
  // The growth has been attributed to new acquisitions and tech investmentThe Hut Group has seen its profits rise while total sales have surpassed £1 billion thanks to new brand acquisitions and investment in technology.
  For the year ended December 31, 2019, the online health and beauty retailer reported a 22 per cent increase in gross profit to £511 million and a 22 per cent rise in EBITDA to £111 million.
  T
  
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• Shopping for clothes is about to get weird – here’s how to make it simpler

  10-06-2020 11:00
  
  With shops in England due to reopen, customers can expect a very different experience. Do your research online first, buy before you try – and avoid jeans
  Picture the scene: you walk into your favourite clothes store for the first time in three months, check your mask is covering your nose and mouth, and pump sanitiser into your hands. And then you spot it – the perfect gingham dress. Just the mood-boosting, picnic-appropriate fillip your wardrobe needs, and it is just there, on the
  
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• 545 job cuts as Peter Simon buys Monsoon Accessorize out of administration

  10-06-2020 10:12 via retailgazette.co.uk
  // Monsoon Accessorize’s future secured as founder Peter Simon leads buyout
  // Deal covers both brands, head office and distribution centre
  // Talks to rescue at least 100 of the current 230 stores, with 545 job cuts immediatelyThe future of Monsoon Accessorize has been secured after founder Peter Simon led a buyout, although not all jobs and stores will be rescued.
  The buyout deal from Adena Brands Ltd, a company ultimately controlled by Simon, covers the retailer’s brands, head off
  
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• Zara owner Inditex swings to €409m loss

  10-06-2020 10:03 via retailgazette.co.uk
  // Inditex posts first quarterly loss as Covid-19 restrictions forced it to shut almost 90% of stores
  // The drop in sales had slowed, with sales at constant currencies falling 34% in JuneZara owner Inditex has recorded its first quarterly loss as Covid-19 restrictions forced it to shut almost 90 per cent of stores in the three months from February to April.
  Inditex made a loss of €409 million (£358 million) between February 1 and April 30, as up to 88 per cent of its bricks-and-morta
  
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• Zara owner Inditex sales tumble £358m

  10-06-2020 10:03 via retailgazette.co.uk
  // Inditex posts first quarterly loss as Covid-19 restrictions forced it to shut almost 90% of stores
  // The drop in sales had slowed, with sales at constant currencies falling 34% in JuneZara owner Inditex has recorded its first quarterly loss as Covid-19 restrictions forced it to shut almost 90 per cent of stores in the three months from February to April.
  Inditex made a loss of €409 million (£358 million) between February 1 and April 30, as up to 88 per cent of its bricks-and-morta
  
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• It's hard to find a fix for my faulty folding bicycle

  10-06-2020 10:00
  
  I was inspired to buy a Brompton by its Wheels for Heroes campaign, but now no one will take responsibility for repairing itI’m an NHS worker who was inspired to buy a Brompton bike after using one through its Wheels for Heroes campaign during lockdown. I purchased it online through Cycle Republic, which is owned by Halfords. Within the first week the connecting chain to the gear hub fell off while I was cycling to work. I contacted Cycle Republic which did not respond. I contacted Brompto
  
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• It's hard to find a fix for my faulty Brompton bicycle

  10-06-2020 10:00
  
  I was inspired to buy a Brompton by its Wheels for Heroes campaign, but now no one will take responsibility for repairing itI’m an NHS worker who was inspired to buy a Brompton bike after using one through its Wheels for Heroes campaign during lockdown. I purchased it online through Cycle Republic, which is owned by Halfords. Within the first week the connecting chain to the gear hub fell off while I was cycling to work. I contacted Cycle Republic which did not respond. I contacted Brompto
  
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• Selfridges to offer “joyful experience” as part of reopening plans

  10-06-2020 09:39 via retailgazette.co.uk
  // Selfridges to offer customers personal after-hours shopping trips, online beauty appointments and entertainment when it reopens
  // Services such as beauty makeovers, hairdressing will not reopen, or its cafes and cinema because of Covid-19 pandemicSelfridges has reportedly said it will offer its customers a “joyful experience” upon reopening stores in the UK, in line with government guidance.
  The luxury department store chain, which operates four shops in the UK, including its Lon
  
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• 93 jobs lost as Quiz property arm falls into administration

  10-06-2020 09:00 via retailgazette.co.uk
  // Quiz is seeking KPMG administrators to restructure its store portfolio
  // It has 82 standalone stores in the UK and Republic of Ireland through its wholly owned subsidiary Kast Retail LimitedQuiz is seeking to appoint administrators to its wholly owned subsidiary in an effort to revive its store portfolio.
  The fast fashion retailer has 82 standalone stores in the UK and Republic of Ireland through its wholly owned subsidiary Kast Retail Limited and has made the decision to seek admi
  
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• JD Sports workers prepare stores as reopening set for Monday

  10-06-2020 08:35 via retailgazette.co.uk
  // JD Sports will open its UK store estate from June 15
  // It will include new safety measures in storesJD Sports has confirmed its plans to reopen its UK store estate following the easing of government lockdown restrictions for non-essential retail in England and Northern Ireland.
  The sportswear retailer will also introduce new safety measures to ensure that staff, customers and suppliers can safely return to its stores.
  From June 15, JD Sports will reopen all 309 of its stores in England to cu
  
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• Selfridges seeks to offer ‘joyful experience’ as stores reopen

  10-06-2020 07:00
  
  Upmarket retailer to provide personal after-hours shopping trips and DJs for queueing customersCoronavirus – latest updatesSee all our coronavirus coveragePersonal after-hours shopping trips, online beauty appointments and entertainment for those queuing outside will form part of Selfridges’ coronavirus-era shopping offer when the retailer reopens on 15 June.The luxury department store group, which operates four shops in the UK, including its London flagship on Oxford Street, will no
  
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• This marketing strategy will drive sales & business growth post-Covid

  10-06-2020 01:00 via theretailbulletin.com
  
  Guest post: Courtney Wylie VP Product and Marketing, Mention Me. The marketing landscape is dramatically different to six months ago. Budgets are frozen. Events are cancelled.... View Article
  
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• The Hut Group reports surge in full year sales and profit

  10-06-2020 01:00 via theretailbulletin.com
  
  Health and beauty retailer The Hut Group has reported a 24% uplift in its annual group sales to £1.14 billion. In the year to 31 December,... View Article
  
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• Quiz puts shop business into administration

  10-06-2020 01:00 via theretailbulletin.com
  
  Fashion retailer Quiz has decided to appoint administrators to its Kast subsidiary, the operator of its 82 stores in the UK and Ireland. In a statement,... View Article
  
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• Ocado to raise £1bn to take advantage of growth in online grocey delivery

  10-06-2020 01:00 via theretailbulletin.com
  
  Online grocer Ocado is aiming to raise £657 million in an equity share placing with institutional and retail investors  as it looks to take advantage of... View Article
  
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• Morrisons launches website for Nutmeg clothing range

  10-06-2020 01:00 via theretailbulletin.com
  
  Morrisons has launched a standalone website for its Nutmeg clothing brand. Selling womenswear, menswear and clothing for babies and children, the new site will enable customers... View Article
  
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• JD Sports prepares stores for reopening

  10-06-2020 01:00 via theretailbulletin.com
  
  JD Sports has unveiled plans for the reopening of its store estate in England an Northern Ireland following the easing of the Covid-19 lockdown restrictions on... View Article
  
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• Bakerdays doubles business during lockdown

  10-06-2020 01:00 via theretailbulletin.com
  
  Online personalised cake company bakerdays has seen its trade more than double during the Covid-19 lockdown. Due to restrictions on group celebrations and parties, sales of... View Article
  
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