Retail news

• Morrisons: shareholders revolt over executive pay

  11-06-2020 20:39 via theguardian.com
  
  More than a third of investor votes go against supermarket’s pay policyMorrisons has been hit by a major protest vote against its pay policy for top executives.More than a third of investors voted against the supermarket’s pay policy at the company’s annual shareholder meeting on Thursday, with the generous pension deals enjoyed by the chief executive, David Potts, and the chief operating officer, Trevor Strain, a major source of anger. Continue reading...
  
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• Morrisons: a third of shareholders revolt over executive pay

  11-06-2020 20:39 via theguardian.com
  
  Pension deals worth 24% of salary – while shopfloor staff get only 5% – anger investorsMorrisons has been hit by a major protest vote against its pay policy for top executives.More than a third of investors voted against the supermarket’s pay policy at the company’s annual shareholder meeting on Thursday, with the generous pension deals enjoyed by the chief executive, David Potts, and the chief operating officer, Trevor Strain, a major source of anger. Continue readi
  
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• Uncertainty over 2-metre distancing rule in England 'causing chaos'

  11-06-2020 19:23 via theguardian.com
  
  Millions spent on signage will have been wasted as shops and councils prepare for lockdown easingCoronavirus – latest updatesSee all our coronavirus coverageA government decision to reduce the 2-metre physical distancing rule in England could mean councils and retailers will have wasted millions of pounds on signs and other preparations for the reopening of high streets, it has emerged.Local authorities and retail groups told the Guardian that much of a £50m government fund handed ou
  
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• Victoria’s Secret: What went wrong?

  11-06-2020 18:20 via retailgazette.co.uk
  A BRIEF TIMELINE
  1977: US businessman Roy Raymond founded Victoria’s Secret as a lingerie retailer in California after feeling embarrassed purchasing lingerie for his wife in a department store.
  The first Victoria’s Secret store was opened at the Stanford Shopping Center in Palo Alto, California after Raymond borrowed $40,000 from a bank and $40,000 from his family.
  He named it Victoria’s Secret as a reference to Queen Victoria, which aimed to evoke the sophistication and propr
  
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• Intu administrator-in-waiting seeks £12m cash injection

  11-06-2020 17:39 via retailgazette.co.uk
  // KPMG taps bondholders for £12m in funding for Intu
  // Without it, it may be hard for Intu to continue operating some of its shopping centres during an administration processIntu’s administrator-in-waiting is reportedly seeking a £12 million cash injection from bondholders as part of a potential insolvency process.
  According to Sky News, KPMG has asked bondholders in the vehicles which directly own Intu’s Metrocentre in Gateshead and Trafford Centre in Manchester for th
  
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• Retailers claim £3.3m in furlough cash since start of lockdown

  11-06-2020 15:50 via retailgazette.co.uk
  // Retail & wholesale the worst hit in terms of furloughed staff – claiming £3.3m for 1.6m workers
  // In total, 1.1m businesses have claimed cash from the Treasury to help support their furloughed staffNew government data has revealed that retail was one of the worst-affected sectors during the lockdown, with businesses claiming £3.3 million to fund their furloughed staff salaries.
  The government data shows that around 1.1 million businesses in total have claimed cash from
  
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• Retailers claim £3.3bn in furlough cash since start of lockdown

  11-06-2020 15:50 via retailgazette.co.uk
  // Retail & wholesale the worst hit in terms of furloughed staff – claiming £3.3bn for 1.6m workers
  // In total, 1.1m businesses have claimed cash from the Treasury to help support their furloughed staffNew government data has revealed that retail was one of the worst-affected sectors during the lockdown, with businesses claiming £3.3 billion to fund their furloughed staff salaries.
  The government data shows that around 1.1 million businesses in total have claimed cash from
  
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• Just Eat Takeaway’s Grubhub deal puts dash for growth back on menu

  11-06-2020 15:31 via ft.com
  Acquisition will set up new battle for global domination in food delivery market
  
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• Are you returning to work in a non-essential shop in England?

  11-06-2020 15:29 via theguardian.com
  
  We would like to hear from those who will be going back to work in retail shops that have been closed during lockdown
  All non-essential shops in England will be able to reopen on Monday as announced by the business secretary, Alok Sharma.Sharma said that the move will “allow high streets up and down the country to spring back to life”. Continue reading...
  
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• B&M leaves door open to more stores despite large expansion

  11-06-2020 13:47 via ft.com
  Discount retailer says target of 950 outlets ‘looks conservative’ after appeal widens in pandemic
  
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• Kurt Geiger to donate first month of all store profits to the NHS

  11-06-2020 13:33 via retailgazette.co.uk
  // Kurt Geiger will open 24 of its 57 stores from June 15
  // All store profits for the first month to be donated to the NHS
  // All Kurt Geiger stores reconfigured to be Covid-secure with social distancing cues in placeKurt Geiger has said that all store profits from the first month of post-lockdown trading will be donated to the NHS.
  From Monday, the footwear retailer said it would open 24 of its 57 stores across the UK, starting with smaller “local” stores that have high numbers of
  
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• Amazon bans police from using its facial recognition technology “that fuels racial profiling” in support of BLM

  11-06-2020 11:32 via chargedretail.co.uk
  
  Amazon is banning US police forces from using its facial recognition software for a year in support of the #BlackLivesMatter protests.
  Rekognition, Amazon’s facial recognition technology which is able to identify people’s faces in real time, has been sold to a number of US police forces over the past few years with the aim of using it in conjunction with police body cameras.
  Amazon said it wanted to give law enforcement and lawmakers time to review and implement legislation on how to
  
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• HMV prepares to reopen 93 stores next week

  11-06-2020 11:19 via retailgazette.co.uk
  // HMV will reopen 93 stores on June 15 in England & Northern Ireland
  // Stores will comply with health & safety guidelines and also offer new “List and Leave” and “Ring and Reserve” services
  // Remaining 15 stores across Scotland & Wales due to reopen pending further guidanceHMV has confirmed it will reopen its stores from Monday with a series of measures to ensure it is Covid-secure for shoppers and in full compliance with government guidelines.
  The music an
  
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• Monsoon Accessorize, Restaurant Group and Quiz to shut sites

  11-06-2020 11:14 via theguardian.com
  
  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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• Ocado to raise £1bn as “COVID‐19 pandemic increases interest” in the online grocer

  11-06-2020 10:50 via chargedretail.co.uk
  
  Ocado is set to raise more than £1 billion in equity as it aims to make the most of “significantly accelerated” interest in online groceries due to the pandemic.
  The online grocery announced today that it is aiming to raise “gross proceeds of approximately £657 million” through an issue of new shares.
  Additionally, it aimed to raise a further £350 million through a convertible bond offering, bringing the total to over £1 billion.
  The retailer said
  
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• Patagonia CEO makes surprise exit

  11-06-2020 10:46 via retailgazette.co.uk
  // Patagonia CEO & president Rose Marcario departs after 12 years
  // Marcario was CEO for 6 out of the 12 years
  // A replacement has not yet been foundPatagonia president and chief executive Rose Marcario has stepped down from the outdoor retailer after 12 years, six of them at the helm.
  The company hasn’t named a successor after Marcario’s surprise exit but said that its transition will be led by chief operating officer Doug Freeman.
  “We will be sharing more updates as we
  
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• Fat Face secures £15m to refinance business

  11-06-2020 10:00 via retailgazette.co.uk
  // Fat Face gains support of lenders to refinance the business
  // The retailer seeks to survive through the Covid-19 crisisFat Face has reportedly gathered support from lenders to refinance its business in an effort to stabilise it for the ongoing coronavirus pandemic.
  The lifestyle retailer’s lenders, which comprise of a consortium of banks and debt funds thought to include Lloyds Banking Group and Goldman Sachs, will take over the business from its majority shareholder, private equity fi
  
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• The Body Shop calls out JK Rowling over transphobic tweets

  11-06-2020 09:39 via retailgazette.co.uk
  // The Body Shop called out JK Rowling over a transphobic comments on Twitter
  // Users said the retailer “bullied” the Harry Potter author after she spoke of abuse experiences
  // Many have called for a boycott of The Body Shop following the commentsThe Body Shop has sparked controversy after tweeting at Harry Potter author JK Rowling for making a transphobic comment about menstruation.
  Social media users have called for a boycott of The Body Shop after accusing it of “bullying&
  
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• Calls to boycott The Body Shop for “bullying” JK Rowling over “transphobic” comment

  11-06-2020 09:39 via retailgazette.co.uk
  // The Body Shop called out JK Rowling over a “transphobic” comment on Twitter
  // Users said the retailer “bullied” the Harry Potter writer after she spoke of abuse experiences
  // Many have called for a boycott of The Body Shop following the commentsThe Body Shop has sparked controversy after tweeting at Harry Potter author JK Rowling for making a “transphobic” comment about menstruation.
  Scores of social media users have called for a boycott of The Body Shop
  
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• Fenwick to reopen all stores from Monday with “strict safety measures”

  11-06-2020 08:49 via retailgazette.co.uk
  // Fenwick will reopen all nine stores in England from June 15
  // The reopenings will be in line with government guidance
  // Customer hosts will be at entrance to welcome customers and assist throughout the storeFenwick has announced that all nine of its stores in England will be reopening from June 15 as lockdown measures begin to ease.
  The department store chain has stores located in Bond Street and Brent Cross in London, and in Bracknell, Canterbury, Colchester, Kingston, Newcastle, Tunb
  
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• B&M posts “strong” full-year revenues despite Covid-19

  11-06-2020 08:29 via retailgazette.co.uk
  // B&M reveals sales growth in full-year results
  // It saw “strong” revenues during the pandemic
  // B&M remained open as an essential retailer during the UK lockdownB&M has seen its full-year profits rise thanks to a steady sales growth, and “strong” revenues during the Covid-19 pandemic.
  The discount retailer recorded a 3.2 per cent rise in pre-tax profit to £252 million in the 52 weeks to March 28, driven by a 16.5 per cent rise in revenue to &pou
  
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• Morrisons CEO: 'Our people are the new rock stars'

  11-06-2020 07:00 via theguardian.com
  
  David Potts on how firm’s home delivery service has galvanised efforts to help those in needCoronavirus – latest updatesSee all our coronavirus coverageMorrisons co-founder Sir Ken Morrison was not a fan of home delivery, which he saw as a step backwards to a boyhood ferrying groceries on a bicycle for his dad.However, like many of its customers during the coronavirus lockdown, his namesake supermarket chain has eagerly jumped back into the saddle – teaming up with Deliveroo&rs
  
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• Delivery wars: Just Eat Takeaway snatches Grubhub deal from Uber

  11-06-2020 06:00 via ft.com
  Deal highlights pressure on companies in the food delivery industry to consolidate
  
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• Tenants hit out at lack of protection from landlords

  11-06-2020 05:00 via ft.com
  UK proposed code of conduct aimed at protecting coronavirus-virus hit businesses called inadequate
  
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• Just Eat Takeaway combines with Grubhub in $7.3bn deal

  11-06-2020 01:10 via ft.com
  European group secures takeover in global push to take on Uber Eats and Doordash
  
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• Mamas & Papas launches free virtual personal shopping service

  11-06-2020 01:00 via theretailbulletin.com
  
  Mamas & Papas has launched a virtual personal shopping service for new and expectant parents following a successful trial during the Covid-19 crisis. The move has... View Article
  
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• HMV’s reopened stores to offer personal shopper service

  11-06-2020 01:00 via theretailbulletin.com
  
  Entertainment retailer HMV has unveiled the new measures it will put in place to help keep customers safe when it reopens 93 stores following the easing of... View Article
  
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• Heal’s welcomes customers back in-store

  11-06-2020 01:00 via theretailbulletin.com
  
  Heal’s has begun to reopen its furniture stores, including its flagship Tottenham Court Road showroom in London. The retailer  has implemented a range of Covid-19 health and... View Article
  
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• B&M posts uplift in full year sales and profit

  11-06-2020 01:00 via theretailbulletin.com
  
  B&M has posted an uplift in full year revenue and profits after the company was boosted by growth at both  its B&M and Heron Foods fascias.... View Article
  
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