Retail news

• Leicester residents could be fined up to £3,200 for breaching new lockdown laws

  03-07-2020 23:42 via theguardian.com
  
  As pubs reopen in the rest of England, all non-essential businesses in the east Midlands city must close their doors againThe government has published its local lockdown rules for Leicester, which will see most businesses shutting their doors once again.The new regulations, published on Friday afternoon, come into force on Saturday, when pubs, restaurants and hairdressers can open in the rest of England. Anyone who breaks the rules in Leicester could be fined £100, which will double every
  
  Read more

• Struggling retailers paid less than a third of June rent, says malls owner

  03-07-2020 20:49 via theguardian.com
  
  Tenants of Landsec, which also runs Trinity Leeds shopping centre, paid 92% of bill last yearCoronavirus – latest updatesSee all our coronavirus coverageLandsec, the property group behind the Trinity Leeds shopping centre and Bluewater in Kent, said struggling retailers paid less than a third of the rent due last month.Retailers paid only £9m of the £31m rent due on stores on 24 June, which equates to 29% of the total. This time last year its retail tenants paid 92% of the bill
  
  Read more

• Beauty sector angry and puzzled as pubs reopen, but not salons

  03-07-2020 17:54 via theguardian.com
  
  Ministers accused of sexism for overlooking industry in lockdown easing planCoronavirus – latest updatesSee all our coronavirus coverageAfter three months in lockdown, many had assumed the days of DIY pedicures would soon be over. But, unlike cinemas and hairdressers, nail bars and beauty and tanning salons will be forced to keep their doors shut on Saturday, with no idea when they can reopen them.“It’s really disappointing,” said Alix Claxton-Wood, the owner of Sheffield
  
  Read more

• M&S welcomes two new board members

  03-07-2020 17:38 via retailgazette.co.uk
  // M&S has welcomed two new board members
  // The retailer launched its ‘Never The Same Again’ programme to reflect the way shopping has changedM&S has appointed two new board members as it announced further changes to its business at its AGM on Friday.
  The chairman of advertising agency Wunderman Thompson, Tamara Ingram has joined the board as non executive director.
  Meanwhile, the international clients and market development group director of food services Compass Group
  
  Read more

• Advertisement

• M&S scraps dividend and welcomes two new board members

  03-07-2020 17:38 via retailgazette.co.uk
  // M&S has welcomed two new board members
  // The retailer launched its ‘Never The Same Again’ programme to reflect the way shopping has changedM&S has appointed two new board members as it announced further changes to its business at its AGM on Friday.
  The chairman of advertising agency Wunderman Thompson, Tamara Ingram has joined the board as non executive director.
  Meanwhile, the international clients and market development group director of food services Compass Group
  
  Read more

• Intu CEO Matthew Roberts exits following company collapse

  03-07-2020 15:42 via retailgazette.co.uk
  // Intu CEO Matthew Roberts resigns a week after the company’s administration
  // KPMG is retaining key Intu operational staff to ensure the continued running of its 17 UK shopping centresIntu chief executive Matthew Roberts has reportedly stepped down a week after the shopping centre owner collapsed into administration.
  Employees were informed by administrators KPMG on Friday of Roberts’ decision to leave the role he had held since April last year, Sky News reported.
  The announcement
  
  Read more

• Intu CEO Matthew Roberts exits following administration

  03-07-2020 15:42 via retailgazette.co.uk
  // Intu CEO Matthew Roberts resigns a week after the company fell into administration
  // KPMG is retaining key Intu operational staff to ensure the continued running of its 17 UK shopping centresIntu chief executive Matthew Roberts has reportedly stepped down a week after the shopping centre owner collapsed into administration.
  Employees were informed by administrators KPMG of Roberts’ decision to leave the role he had held since April last year, Sky News reported.
  The announcement about R
  
  Read more

• Poundstretcher could close half its stores under rescue deal

  03-07-2020 14:59 via theguardian.com
  
  About 2,000 jobs at risk after retailer agrees CVA with creditors including rent cuts
  Poundstretcher could close nearly half its stores in six weeks’ time, with 2,000 jobs at risk, after landlords and other creditors approved a rescue restructure.Rents will be cut by up to 40% on 84 stores and held at current rates on 94 stores under the insolvency process known as a company voluntary arrangement (CVA) approved late on Thursday night. Continue reading...
  
  Read more

• Advertisement

• Creditors green light Poundstetcher’s CVA proposal

  03-07-2020 13:41 via retailgazette.co.uk
  // Creditors approve Poundstretcher CVA proposal
  // The CVA includes major rent cuts for much of its store estate and forms part of a wider restructure
  // No job cuts or store closures are part of the procedurePoundstretcher has had a major restructuring plan involving rent cuts approved by its creditors.
  More than 90 per cent of creditors approved the discount retailer’s CVA proposals, which will bring rent cuts of between 30 per cent and 40 per cent for 84 of its 450 stores over the next
  
  Read more

• Retailers paid less than a third of June rent – Bluewater co-owner

  03-07-2020 13:34 via theguardian.com
  
  Tenants of Landsec, which also runs Trinity Leeds shopping centre, paid 92% of bill last yearCoronavirus – latest updatesSee all our coronavirus coverageLandsec, the property group behind the Trinity Leeds shopping centre and Bluewater in Kent, said struggling retailers paid less than a third of the rent due last month.Retailers paid only £9m of the £31m rent due on stores on 24 June, which equates to 29% of the total. This time last year its retail tenants paid 92% of the bill
  
  Read more

• Studio MD Paul Kendrick promoted to CEO

  03-07-2020 13:07 via retailgazette.co.uk
  // Studio Retail MD Paul Kendrick promoted to Studio Group CEO
  // He will replace Phil Maudsley, who is retiring after 30 years with the company
  // Kendrick will assume the position in March next year, and Maudsley will stay on until thenStudio has promoted Paul Kendrick, the managing director of its retail arm, to the post of group chief executive to replace Phil Maudsley.
  Kendrick, who is executive director of Studio and managing director of its main subsidiary, Studio Retail, will take over a
  
  Read more

• Sainsbury’s chair defends ex-CEO Mike Coupe’s leadership

  03-07-2020 11:18 via retailgazette.co.uk
  // Sainsbury’s chair defended ex-CEO Mike Coupe’s six-year tenure at the supermarket’s AGM
  // An investor asked if Coupe would apologise for the group’s share price performance under his leadershipSainsbury’s chairman Martin Scicluna has defended the six-year tenure of former chief executive Mike Coupe after an investor at the supermarket’s AGM asked if he would apologise for the group’s share price performance under his leadership.
  Coupe stepped do
  
  Read more

• £14 Lidl trainers flood Ebay selling for up to £450

  03-07-2020 11:17 via chargedretail.co.uk
  
  Lidl has released its own branded pair of sneakers which are now being sold for up to £450 on resale platforms at more than 30 times their original retail price.
  The branded trainers were released in Lidl stores across Finland, but have drawn widespread attention from sneakerheads worldwide.
  Launched as part of Lidl’s wider branded apparel line, which also included sliders, socks and t-shirts, the shoes were sold for the equivalent of £14.However they have now flooded resale pl
  
  Read more

• Landsec posts “encouraging” footfall levels

  03-07-2020 10:37 via retailgazette.co.uk
  // Landsec posts “encouraging” levels of footfall since the reopening of its centres
  // It will reinstate its shareholder dividend from November
  // 60% of its net due rent was paid at the last quarterly rent day June 24Landsec has recorded “encouraging” footfall levels at its centres and will reinstate its shareholder dividend from November, despite some retailers choosing not to pay rent.
  The shopping centre owner said 60 per cent of its net due rent was paid at the last
  
  Read more

• More than 1/3 of customers stung by price-gouging on essential items

  03-07-2020 10:06 via retailgazette.co.uk
  // 36% of shoppers forced to pay sky-high prices for essential hygiene and medical products during pandemic, says Which?
  // In some cases medical-grade masks were being sold for nearly 20 times the usual price
  // Amazon & eBay accounted for the majority of the reported listingsMore than a third of shoppers have been forced to pay sky-high prices for essential hygiene and medical products as unscrupulous sellers have looked to cash in on the Covid-19 crisis, according to a report.
  Consumer gr
  
  Read more

• Sports Direct calls for Leicester stores to stay open during local lockdown

  03-07-2020 09:58 via retailgazette.co.uk
  // Frasers Group finance boss requests Sports Direct stores to remain open in Leicester
  // Leicester went into a local lockdown after Covid-19 cases spikedFrasers Group chief financial officer Chris Wootton has reportedly written a letter to the government criticising the local lockdown in Leicester and asked for Sports Direct stores in the city to remain open.
  Sports Direct operates three stores in the city, which is the first local area in the UK to be dragged back into lockdown due to an incr
  
  Read more

• Post-lockdown retail sales boost did not last long

  03-07-2020 09:30 via retailgazette.co.uk
  // Retail sales in June overall was 14.4% lower compared to last year, BDO says
  // Sales were around 20% lower than last year in the first two weeks June, and only rebounded to a 7.1% decline in first week after lockdown
  // The rest of the month saw a decline of 15.5%A rapid recovery in retail sales in the first week after non-essential stores were allowed to reopen tapered off in the following days, according to new data.
  Sales were around a fifth lower than last year in the first two weeks of
  
  Read more

• Signs of improvement in consumer confidence as lockdown eases

  03-07-2020 09:15 via retailgazette.co.uk
  // Overall consumer confidence stands at -27, an improvement of last reading of -30
  // All index categories saw an improvement, except for sentiment over the economic situation over the last 12 months
  // The findings bring hope to UK retail as some businesses such as pubs & hairdressers prepare to reopen this weekendFragile consumer confidence is some signs of improving as more retailers exit lockdown and other high street businesses prepare to open their doors again, according to an index.
  
  Read more

• Retail tech draws lockdown dollars

  03-07-2020 06:01 via ft.com
  Amazon and Shopify reap rewards as consumers and stores take their trading online
  
  Read more

• Virgin-O2 merger, retail tech, US jobs

  03-07-2020 06:00 via ft.com
  
  UK to ask Brussels for full control over the review of Virgin Media and O2 merger
  
  Read more

• Studio to promote Paul Kendrick to chief executive role

  03-07-2020 01:00 via theretailbulletin.com
  
  Studio has announced that Paul Kendrick will be promoted to the position of chief executive when current incumbent Phil Maudsley retires in March 2021. Kendrick is currently managing director of... View Article
  
  Read more

• Shoe Zone hires new finance director

  03-07-2020 01:00 via theretailbulletin.com
  
  Shoe Zone has appointed Peter Foot as its new finance director. Due to take up his role on 6 July, Foot will succeed Jonathan Fearn who will be... View Article
  
  Read more

• Marks & Spencer relaunches Sparks loyalty scheme

  03-07-2020 01:00 via theretailbulletin.com
  
  Marks & Spencer is relaunching its Sparks loyalty programme as a “digital first” scheme this month. In statement, the retailer said it had listened to feedback... View Article
  
  Read more

• Consumer confidence edges up as lockdown eases

  03-07-2020 01:00 via theretailbulletin.com
  
  Consumer confidence edged up in the latter part of June as Covid-19 lockdown restrictions began to ease. According to GfK’s long running Consumer Confidence Barometer, the... View Article
  
  Read more

Follow @retailuknws on Twitter!