Retail news

• More than 6,000 retail jobs cut from British high street in a day

  01-07-2020 21:27
  
  Harrods and Arcadia shed 1,200 jobs as John Lewis warns of staff and bonus cutsCoronavirus – latest updatesSee all our coronavirus coverageMore than 6,000 retail jobs were cut from the UK high street on Wednesday as the full impact of the pandemic on the high street – combined with the wind-down of the government furlough scheme – starts to emerge.The latest job losses – from retailers ranging from Harrods to Philip Green’s Arcadia group and SSP, the company behind
  
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• Fears grow for UK high street as more than 6,000 retail jobs cut in a day

  01-07-2020 21:27
  
  Harrods and Arcadia shed 1,200 jobs as John Lewis warns of staff and bonus cutsCoronavirus – latest updatesSee all our coronavirus coverageMore than 6,000 retail jobs were cut from the UK high street on Wednesday as the full impact of the pandemic on the high street – combined with the wind-down of the government furlough scheme – starts to emerge.The latest job losses – from retailers ranging from Harrods to Philip Green’s Arcadia group and SSP, the company behind
  
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• The Guardian view on local lockdowns: share the data faster | Editorial

  01-07-2020 19:50
  
  The UK government needs to be more rigorous and transparent with information if regional outbreaks of Covid-19 are to be containedIn the game of whack-a-mole, the target pops up in one location and, once hammered down, appears immediately somewhere else. The defining features of the exercise are randomness and futility, which makes it an unfortunate metaphor for Boris Johnson to use for his government’s strategy when dealing with local Covid-19 outbreaks.The re-imposition of lockdown contr
  
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• UK high street suffers huge jobs losses

  01-07-2020 18:36 via ft.com
  Retail and aviation sectors hit hard as government winds down furlough scheme
  
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• Sainsbury’s must prove it is a shareholder hero in the long run

  01-07-2020 18:29 via ft.com
  Supermarket chain manages a speedy online expansion; Upper Crust’s owner SSP slims down
  
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• Boohoo accused of fuelling virus spread in Leicester production push

  01-07-2020 18:19 via ft.com
  Suppliers were pressured to continue operating during lockdown, rights group says
  
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• UK retail landlords squeezed as stores hit by Covid-19 crisis

  01-07-2020 17:17
  
  Bullring owner Hammerson and Meadowhall owner British Land fail to receive all rent dueCoronavirus – latest updatesSee all our coronavirus coverageHammerson and British Land collected only a fraction of their rents due last month as retailers struggled despite the easing of the coronavirus lockdown in the UK.Hammerson, the landlord that owns the Bullring in Birmingham and the Brent Cross shopping centre in north London, said it had collected just 16% of rent due in May and June, and had dr
  
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• Intu: What went wrong?

  01-07-2020 17:17 via retailgazette.co.uk
  A BRIEF TIMELINE
  1980: Intu was founded by South African-British businessman Sir Donald Gordon as a real estate investment trust, largely focused on shopping centre management and development. It was initially called Transatlantic Insurance Holdings.
  1982: Transatlantic Insurance Holdings acquired a 29 per cent interest in shopping centre developer Capital & Counties by way of a share issue.
  1985: Transatlantic Insurance Holdings made a public offer and acquired a controlling stake in Capita
  
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• British Land/Hammerson: the way we’ll live now

  01-07-2020 16:45 via ft.com
  Retail is in a worse mess than the admin factories in which so many white-collar workers toiled
  
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• Commercial landlords squeezed as retailers in UK struggle with rent

  01-07-2020 16:21
  
  British Land and Hammerson go short with shopping centres including Meadowhall and the Bullring hit by downturnCoronavirus – latest updatesSee all our coronavirus coverageHammerson and British Land collected only a fraction of their rents due last month as retailers struggled despite the easing of the coronavirus lockdown in the UK.Hammerson, the landlord which owns the Bullring, in Birmingham, and the Brent Cross shopping centre, north London, said it had collected just 16% of rent due in
  
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• Kingfisher announces new non-executive director

  01-07-2020 16:02 via retailgazette.co.uk
  Kingfisher plc has announced the appointment of Tony Buffin as a the new non-executive director of Kingfisher with effect from 1 December 2020.
  Buffin joined Holland and Barrett as chief executive officer during 2019, prior to whichhe was group chief operating officer and chief financial officer at Travis Perkins PLC.
  He was also the former chief financial officer of Australian grocery retailer, Coles Group,and prior to that was chief executive officer of The Loyalty Management Group.READ MORE:
  
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• John Lewis Partnership boss warns on job cuts & store closures

  01-07-2020 15:36 via retailgazette.co.uk
  // John Lewis Partnership set to cut jobs, and permanently shut down some John Lewis stores
  // It is also planning to axe the annual bonus next year and close down of its London HQ buildings
  // Partnership chair Sharon White made the announcement in a letter seen by staff todayJohn Lewis Partnership is poised to cut jobs, axe the annual bonus, close one of its London headquarters and permanently shutter some stores in response to the coronavirus crisis.
  In a letter to staff seen by the Even
  
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• Harrods to cut 700 jobs

  01-07-2020 14:58 via retailgazette.co.uk
  // Harrods is cutting nearly 700 jobs after struggling during the Covid-19 pandemic
  // The planned 680 job cuts equates to around 14% of its total workforce
  // CEO Michael Ward says areas of the business most impacted by the lockdown face job lossesHarrods is poised to make almost 700 staff members redundant after the luxury department store conceded it has struggled because of the coronavirus pandemic.
  In an email circulated to Harrods staff yesterday, Harrods chief executive Michael Ward said
  
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• Arcadia scraps 500 head office jobs to offset Covid-19 costs

  01-07-2020 14:52 via retailgazette.co.uk
  // Arcadia to cut 500 jobs from its 2500-strong head office workforce
  // The decision comes as the group seeks to cut costs following the coronavirus pandemicArcadia has reportedly confirmed plans to scrap 500 head office jobs in an effort to reduce costs following the impact of the Covid-19 pandemic.
  The fashion group informed staff of the decision in an email on Wednesday that the restructuring will affect around 500 of its 2500-strong head office workforce.
  The move is expected to affect team
  
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• Vans latest to boycott Facebook as 3rd of advertisers say they could follow

  01-07-2020 14:32 via chargedretail.co.uk
  
  Vans has become the latest big-name retailer to pull its advertising from Facebook as the #StopHateForProfit campaign, with almost a third of advertisers considering similar action.
  The fashion giant has announced plans to pull its “ad dollars from Facebook and Instagram for the month of July” and reinvest the money to support Black communities through empowerment and education programmes.
  “Racial inequality in the world is supported and fueled by systemic racism,” Vans s
  
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• John Lewis to close several stores as Harrods cuts 700 jobs

  01-07-2020 13:27
  
  John Lewis staff unlikely to receive 2021 bonus because of coronavirus crisisCoronavirus – latest updatesSee all our coronavirus coverageJohn Lewis has confirmed it is to close a number of its shops and Harrods is cutting 700 jobs as department stores reel from the coronavirus pandemic.In a letter to the retailer’s staff, the John Lewis chairman, Sharon White, also said the store chain is to shut down a London office and will probably ditch the annual bonus paid to all staff, which i
  
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• Harrods and Arcadia shed 1,200 jobs as John Lewis warns of staff and bonus cuts

  01-07-2020 13:27
  
  John Lewis to close number of shops, while Arcadia trims head office and Harrods warns of key customer lossesCoronavirus – latest updatesSee all our coronavirus coverageMore than 1,200 jobs are to go at John Lewis, Harrods and the owner of Topshop, as retailers reel from the coronavirus pandemic.In a letter to John Lewis staff, the company’s chairman, Sharon White, said the group would close a number of its department stores and one London office and would probably ditch the annual b
  
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• Hammerson taps £300m credit in effort to avoid Intu’s fate

  01-07-2020 13:10 via ft.com
  Shopping centre owner boosts balance sheet as it collects just 16% of rent due for latest quarter
  
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• John Lewis to reopen 10 other stores, including Oxford Street flagship

  01-07-2020 12:45 via retailgazette.co.uk
  // John Lewis to reopen another 10 stores in latest phase of lockdown exit on July 13
  // The latest tranche of reopenings includes its first in Wales and Scotland and the Oxford Street flagship
  // Once they reopen, John Lewis will have 32 in operation while 18 others remain closed for the time beingJohn Lewis Partnership has unveiled reopening plans for another 10 of its department stores including its first in Wales and Scotland as well as the Oxford Street flagship.
  The group said John Lewis s
  
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• Dismal reviews force Amazon to pull its first video game in embarrassing move

  01-07-2020 12:26 via chargedretail.co.uk
  
  Amazon’s ambitions of breaking into the gaming industry have been left in tatters after it was forced to pull its flagship title from shelves amid near-universally poor reception.
  Crucible, Amazon’s first big-budget title launched on May 20, has been withdrawn from public circulation in an unprecedented move for a major game.
  The free-to-play multiplayer title, which was touted as a new rival to market leaders like Fortnite and Apex Legends, will now return to a closed
  
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• Hammerson & British Land hopeful for retail rebound despite rent issues

  01-07-2020 11:59 via retailgazette.co.uk
  // Hammerson & British Land collect just 16% of rent it was due for the third quarter
  // However, both firms ae confident about a rebound now that shops have reopenedBritish Land and Hammerson have sought to assure over an improving picture in the hard-hit retail sector, but revealed ongoing difficulties for retailers to meet rent demands.
  The firms – which own Meadowhall in Sheffield, and Birmingham’s Bullring and Brent Cross in north London respectively – said it had coll
  
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• Sainsbury's reports rise in grocery sales and surge in online orders

  01-07-2020 11:32
  
  Argos sales also up but new chief executive says there will be no growth in profits this yearSainsbury’s has said it is winning over shoppers from the discounters Aldi and Lidl as well as Tesco, Asda and Morrisons, as it reported a surge in online orders to 650,000 a week in June, up from 370,000 in March.Sales at its established stores rose by 8.2%, with grocery sales up by 10.5% and general merchandise up by 7.2%, in the 16 weeks to 27 June. Clothing sales were down by more than a quarte
  
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• Germans rushed to reopen wallets after lockdown eased

  01-07-2020 11:30 via ft.com
  Record rise in retail sales boosts economic outlook for eurozone’s largest economy
  
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• Germans rushed to reopen their wallets after lockdown lifted

  01-07-2020 11:30 via ft.com
  Record rise in retail sales boosts economic outlook for eurozone’s largest economy
  
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• M&Co seeks new backers after £50m revenue shortfall

  01-07-2020 10:42 via retailgazette.co.uk
  // M&Co is looking for new backers after a £50 million revenue shortfall
  // The shortfall came as a result of coronavirus
  // The retailer is considering a pre-pack administrationM&Co is reportedly seeking new backers after experiencing a £50 million revenue shortfall as a result of the coronavirus pandemic.
  The value fashion retailer is currently working with Deloitte and is understood to be considering options including a partial sale or full sale via a pre-pack administrati
  
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• Topps Tiles trading improves “significantly” in third quarter

  01-07-2020 10:12 via retailgazette.co.uk
  // Topps Tiles posts average weekly sales of £1.9m for the 13 weeks to June 27, down from £4.1m
  // Average weekly sales in April totalled £800,000, rising to £1.3m in May and £3.3m in JuneTopps Tiles has seen its trading “improve significantly” during its third quarter as stores reopened.
  Despite this, the DIY company reported average weekly sales of £1.9 million for the 13 weeks to June 27, down from £4.1 million.
  Average weekly sales in Apr
  
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• Shop prices in June fall for the 13th month in a row

  01-07-2020 09:53 via retailgazette.co.uk
  // Shop prices fall for the 13th month in row in June as coronavirus hammers sales, says latest Shop Price Index
  // Overall shop prices fell by 1.6% in June compared to a decrease of 2.4% in May
  // Non-food prices fell 3.4% and food price inflation was steady at 1.5%Shop prices in June fell for a 13th consecutive month as retailers continued to discount items in a bid to shift excess stock amid the coronavirus pandemic.
  According to the latest BRC-Nielsen Shop Price Index, overall prices fell by
  
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• B&M on “steady recovery” as it smashes £1bn in revenue

  01-07-2020 09:48 via retailgazette.co.uk
  // B&M records”strong” first quarter particularly in its UK business
  // Group revenue rose 27.7% to £1.15 billion
  // Revenue at the UK business was 33.7% higher than a year agoB&M has posted a “strong” first quarter, with its UK business trading ahead of expectations.
  In the period from March 29 to June 27, the discount retailer saw group revenue rise by 27.7 per cent to £1.15 billion.
  Revenue at the UK business was 33.7 per cent higher, with a li
  
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• Sainsbury’s quarterly sales jumps 8.5% as lockdown doubles online revenue

  01-07-2020 09:26 via retailgazette.co.uk
  // Sainsbury’s overall first quarter sales jumps 8.5%
  // Sales from its grocery arm surged 10.5%, boosted by an 87% surge in online sales after orders rose to 650,000 per week from 370,000 last year
  // Sainsbury’s also reported a 7.2% increase in sales from its general merchandise armSainsbury’s has posted bumper trading for the first quarter of its financial year as online sales more than doubled thanks to the coronavirus lockdown.
  The supermarket giant said total sales jumped
  
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• UK high street suffers jobs bloodbath

  01-07-2020 09:24 via ft.com
  Upper Crust owner says recovery is slower in Britain with aviation and retail sectors hit hard   
  
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• Food retailer SSP adds to mounting UK job losses as it cuts 5,000 posts

  01-07-2020 09:24 via ft.com
  Upper Crust owner says recovery is slower in Britain with aviation and retail sectors hit hard   
  
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• Sainsbury’s expects stale profits even as online sales soar

  01-07-2020 09:16 via ft.com
  Higher costs prompted by the coronavirus pandemic offset robust growth
  
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• Staff can be put back on furlough during local lockdowns, No. 10 says

  01-07-2020 09:04 via retailgazette.co.uk
  // Leicester retailers forced to go into lockdown again will be able to re-furlough staff, govt confirms
  // If employers used the scheme between March 1-June 30, they can re-furlough those employees from July 1
  // Leicester went into a local lockdown yesterday, only two weeks after England exited lockdownRetailers forced to shut their doors again in Leicester under the local lockdown will be able to re-furlough their staff if they have used the scheme before, Downing Street has said.
  Number 10 s
  
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• Worth the hype: are Dior's Air Jordans the most-wanted trainers of all time?

  01-07-2020 08:00
  
  The fashion house’s update of Michael Jordan’s classic footwear is set to bring joy to sneakerheads and point the way forward for luxury shopping. Is this the restart of hype?Two months ago, it was modish to theorise that consumer desire for extravagant luxury fashion might never recover from the pandemic. But two months is a long time in fashion, and this week sees the blockbuster must-have come roaring back into style. On 1 July, an online prize draw will decide the lucky few who h
  
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• M&S puts shareholders to digital test

  01-07-2020 06:00 via ft.com
  Retailer famed for robust AGM debate to host first virtual meeting
  
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• What is SD-WAN and how can retail benefit – in plain English

  01-07-2020 01:00 via theretailbulletin.com
  
  Technospeak, cyberbabble: usually confusing and often overflowing with superfluous verbosity. But what really confuses us in explanations about technology is that the HOW it works is... View Article
  
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• Topps Tiles sales improved “significantly” following store reopenings

  01-07-2020 01:00 via theretailbulletin.com
  
  Topps Tiles has reported a “significant” improvement in trading after its stores reopened in May following temporary closures due to the Covid-19 lockdown. In a statement... View Article
  
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• TM Lewin to close all 66 stores

  01-07-2020 01:00 via theretailbulletin.com
  
  Around 600 people at TM Lewin will lose their jobs due to plans to permanently close all 66 of the shirt retailer’s stores. The news follows the company entering... View Article
  
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• Sainsbury’s posts strong first quarter sales growth

  01-07-2020 01:00 via theretailbulletin.com
  
  Sainsbury’s increased its total retail sales excluding fuel by 8.5% in its first quarter after trading was boosted by strong online sales due to the Covid-19 pandemic. In the... View Article
  
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• More than half of UK shoppers would switch to a competitor if the digital customer experience doesn’t measure up

  01-07-2020 01:00 via theretailbulletin.com
  
  With retailers and brands moving closer to an all-digital model, new Nuxeo report demonstrates the challenges facing retailers and brands as they look to reestablish themselves,... View Article
  
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• John Lewis will not reopen some stores after lockdown

  01-07-2020 01:00 via theretailbulletin.com
  
  John Lewis has confirmed that it will probably not be reopening some of its department stores that closed during the Covid-19 lockdown. The retailer’s chairman, Sharon... View Article
  
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• John Lewis to reopen a further ten stores this month

  01-07-2020 01:00 via theretailbulletin.com
  
  John Lewis has announced plans to reopen a further ten shops this month including some in Scotland and Wales. The retailer’s department stores in Basingstoke, Cardiff, Chelmsford, Chester,... View Article
  
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• John Lewis to reopen a further ten stores

  01-07-2020 01:00 via theretailbulletin.com
  
  John Lewis has announced plans to reopen a further ten shops this month including some in Scotland and Wales. The retailer’s department stores in Basingstoke, Cardiff, Chelmsford, Chester,... View Article
  
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• How to get your customers back in-store

  01-07-2020 01:00 via theretailbulletin.com
  
  The bulk of the high street have now reopened their doors, with bars and restaurants soon to follow this weekend. What do you need to know... View Article
  
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• Harveys and Bensons for Beds enter administration

  01-07-2020 01:00 via theretailbulletin.com
  
  Harveys and Bensons for Beds have entered administration, although the latter has been bought back by their owner in a pre-pack deal. The brands were acquired by Alteri... View Article
  
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• B&M makes strong start to new financial year

  01-07-2020 01:00 via theretailbulletin.com
  
  B&M has said it has made a strong start to the new financial year with group revenue increasing by 27.7% to £1.15 billion in its first... View Article
  
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