Retail news

• Departure of Horta-Osório no bad thing for Lloyds at this time

  06-07-2020 20:48
  
  Outgoing CEO did better than share price suggests but fallout from Covid-19 will be painful
  By the time he leaves Lloyds Banking Group next year, António Horta-Osório will have been paid roughly £60m for his decade in charge, which is rather better than shareholders have done. A pound invested on the chief executive’s arrival from Santander in March 2011 is worth 63p, even with dividends (for the few years they were paid) re-invested.Context is important, of course. You
  
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• More than £1bn wiped off Boohoo value as it investigates Leicester factory

  06-07-2020 19:45
  
  Workers allegedly paid less than minimum wage and not wearing masks to protect against Covid-19Coronavirus – latest updatesSee all our coronavirus coverageThe online fashion retailer Boohoo had more than £1bn wiped off its value on Monday as it pledged to investigate how its clothes came to be made at a Leicester garment factory where workers were paid less than the minimum wage.Boohoo, which owns brands such as Pretty Little Thing and Nasty Gal, said conditions at the factory were &
  
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• How charity shops are adapting amid Covid19

  06-07-2020 18:04 via retailgazette.co.uk
  While charity shops are now expected to be a treasure trove of “gems” as they reopen due to people clearing out their homes in lockdown, there are still a number of concerns for both staff and shoppers when its comes to coronavirus.
  “The experience for customers will be different to what it was before the coronavirus pandemic,” a Barnado’s spokesperson told Retail Gazette.
  As charity and second-hand shops rely on donations, they will face numerous unique challenges
  
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• How charity shops are adapting amid Covid-19

  06-07-2020 18:04 via retailgazette.co.uk
  While charity shops are now expected to be a treasure trove of “gems” as they reopen due to people clearing out their homes in lockdown, there are still a number of concerns for both staff and shoppers when its comes to coronavirus.
  “The experience for customers will be different to what it was before the coronavirus pandemic,” a Barnado’s spokesperson told Retail Gazette.
  As charity and second-hand shops rely on donations, they will face numerous unique challenges
  
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• Boohoo shares tumble on concerns over factory conditions

  06-07-2020 17:46 via ft.com
  Fashion group criticised by shareholder groups and pay campaigners
  
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• Poundland to open 6 new Pep&Co “shop-in-shops” this month and August

  06-07-2020 17:35 via retailgazette.co.uk
  // Poundland’s Pep&Co celebrates fifth birthday with new growth plans
  // 6 Pep&Co “shop-in-shops” will open this month and AugustPoundland has revealed plans to expand its Pep&Co “shop-in-shop” concept to another six stores.
  The announcement came as Poundland marked five years since the launch of the Pep&Co fashion line in the UK and Ireland, which is now generates £100 million in sales.
  The discount retailer said Pep&Co has played a key ro
  
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• Boohoo to investigate illegal practices allegations at Leicester factory

  06-07-2020 16:51 via retailgazette.co.uk
  // Boohoo makes pledge to investigate allegations of illegal working conditions at its factory in Leicester
  // Follows a Sunday Times investigation and after shares in Boohoo plummeted this morningBoohoo has pledged to investigate alleged illegal practices at a supplier in Leicester after reports that staff were being paid less than minimum wage to work in poor conditions.
  The online fashion retailer told investors today that it would end relationships with any supplier it finds to have broken i
  
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• Morrisons opens first standalone store for Nutmeg brand

  06-07-2020 14:18 via retailgazette.co.uk
  // Morrisons officially opens the first standalone store for its own-brand Nutmeg range
  // The store will stock Nutmeg’s clothing and homewares range
  // The new store is located in Bolsover, Derbyshire and employs 16 local residentsMorrisons has officially opened the new concept standalone store selling its own-brand Nutmeg range in Bolosover, Derbyshire.
  Spanning 5400sq ft, the shop employs 16 new members of staff from the local community.
  The aim of the new concept is to offer a wider Nu
  
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• Boohoo pledges to investigate suppliers over factory conditions

  06-07-2020 14:03 via ft.com
  Fashion group’s share price falls sharply after report of low wages
  
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• 1000 high street jobs at risk as Pret a Manger shuts down 30 stores

  06-07-2020 13:53 via retailgazette.co.uk
  // Pret a Manger to shut down 30 high street stores due a slump in demand from the coronavirus pandemic
  // The move will place 1000 jobs at risk
  // Pret a Manger will also reduce staff working across its remaining UK stores to reflect the slumpHigh street food-to-go chain Pret a Manger is to permanently shut 30 of its stores after footfall was hammered by the coronavirus lockdown.
  It is understood that at least 1000 jobs are at risk at the chain as part of the restructuring plan.
  The company sai
  
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• £500m wiped off Boohoo’s market value following damning report

  06-07-2020 12:08 via chargedretail.co.uk
  
  Boohoo has seen its share prices divebomb by nearly 11 per cent following an undercover exposé which accused it of perpetuating modern slavery.
  Boohoo Group, which includes popular online fashion brands like PrettyLittleThing, Nasty Gal, Karen Millen, Coast, Oasis and Warehouse, has seen £500 million wiped off of its market value after the damning “Labour Behind the Label” report was published over the weekend.
  The report accused the group of paying garment workers in a
  
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• M&S shoppers hoping to buy online with Ocado could be shut out over “very limited” capacity

  06-07-2020 11:13 via chargedretail.co.uk
  
  Marks & Spencer’s landmark tie-up with Ocado will have “very limited” space for any new customers to purchase its goods online.
  M&S chairman Archie Norman told investors during its virtual annual general meeting last week that its upcoming £750 million joint venture with the online giant will see swathes of customers struggle to place orders.
  Norman said the spike in demand for Ocado during lockdown meant the company is continuing to operate “at capacity&rdq
  
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• Pret A Manger to cut ‘1,000 plus’ jobs and close 30 stores

  06-07-2020 10:51 via ft.com
  Food chain says sales are a quarter of normal levels while it is forking out £20m in cash a month
  
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• Boohoo to investigate use of Leicester factory with 'unacceptable' conditions

  06-07-2020 10:34
  
  Workers were paid £3.50 an hour in conditions that allegedly put them at greater risk of Covid-19Coronavirus – latest updatesSee all our coronavirus coverageOnline fashion retailer Boohoo has pledged to investigate how its clothes came to be made by a Leicester garment factory where workers were paid just £3.50 an hour in conditions that allegedly put them at greater risk of catching Covid-19.Shares in the company slumped by 9% in early trading on Monday morning, the first day
  
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• Little Mistress seeking 15 stores for immediate opening

  06-07-2020 10:24 via retailgazette.co.uk
  // Little Mistress is seeking an additional 10 to 15 UK stores for immediate opening
  // CEO and founder Mark Ashton said the fashion group is looking at permanent leases and pop-up storesLittle Mistress Group has reportedly said it is searching for an additional 10 to 15 UK stores for the immediate opening of its synonymous brand Little Mistress.
  Chief executive and founder Mark Ashton said the group is looking at both permanent leases and pop-up store options in Birmingham, Manchester, Liverpoo
  
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• Only bold state intervention will save us from a future owned by corporate giants | Joe Guinan and Martin O'Neill

  06-07-2020 10:00
  
  If small businesses fail after Covid-19, the big boys will become even more powerful. A radical 1930s policy could be the answerThe economy we knew before the pandemic has disappeared. Rather than simply returning to how things were before the coronavirus shock, we’re set to emerge into a shattered economic landscape. Huge numbers of jobs have been lost and countless small businesses are laden with debt, teetering on the verge of bankruptcy. In the absence of additional government assistan
  
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• Only bold state intervention can save us from an ‘Amazon recovery’ | Joe Guinan and Martin O'Neill

  06-07-2020 10:00
  
  If small businesses fail after Covid-19, the big boys will become even more powerful. A radical 1930s policy could be the answerThe economy we knew before the pandemic has disappeared. Rather than simply returning to how things were before the coronavirus shock, we’re set to emerge into a shattered economic landscape. Huge numbers of jobs have been lost and countless small businesses are laden with debt, teetering on the verge of bankruptcy. In the absence of additional government assistan
  
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• Treasury may hand UK adults £500 to spend in Covid-hit sectors

  06-07-2020 09:48 via retailgazette.co.uk
  // Chancellor Rishi Sunak could hand every adult £500 in vouchers to help sectors affected by the Covid-19 crisis
  // The plan has been drawn up by independent British think tank Resolution Foundation to boost UK economyPlans to give all UK adults £500 and children £250 in vouchers to spend in sectors of the economy worst hit by the Covid-19 crisis are reportedly being considered by the Treasury.
  Chancellor Rishi Sunak could hand every adult £500 in vouchers under proposal
  
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• Morrisons brings new non-executive director on board

  06-07-2020 09:16 via retailgazette.co.uk
  // Morrisons hires Jeremy Townsend as a non-executive director
  // Townsend has held various senior finance positions at Sainsbury’sMorrisons has appointed Jeremy Townsend as a non-executive director with immediate effect.
  Townsend is currently chief financial officer of British businesses group Rentokil, and will be retiring from his role later this year.
  He was previously the group finance director of Mitchells & Butlers, and prior to that, he held various senior finance positions at
  
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• ‘Super Saturday’ posts footfall rise as restaurants and pubs reopen

  06-07-2020 08:59 via retailgazette.co.uk
  // Retailers in England experience increase in footfall after restaurants, pubs and bars reopened on Saturday
  // The number of people visiting high streets after 5pm on Saturday surged by more than a third compared to the previous weekRetailers in towns and cities across England have recorded an increase in footfall on Saturday evening as restaurants, pubs and bars reopened their doors after the easing of lockdown.
  The number of people visiting high streets after 5pm on Saturday surged by more t
  
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• Over 24,000 jobs scrapped due to retail administrations

  06-07-2020 08:41 via retailgazette.co.uk
  // UK retailers have shed over 24,000 jobs this year
  // The job losses came as a result of administrations in the first half of 2020New research has found that UK retailers have axed over 24,000 jobs this year, with experts warning this may only be “the tip of the iceberg”.
  Many of the jobs have been lost due to retailers falling into administration in the first half of 2020 after the coronavirus lockdown triggered the collapse of some major retailers.
  At least 24,348 jobs have alrea
  
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• Two Rivers adds Lidl and Marks & Spencer to line-up

  06-07-2020 01:00 via theretailbulletin.com
  
  The Two Rivers retail park in Staines is adding Lidl and Marks & Spencer to its line-up. M&S will be relocating its existing store in the... View Article
  
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• Morrisons opens standalone store for clothing and homewares

  06-07-2020 01:00 via theretailbulletin.com
  
  Morrisons has chosen Bolosover as the location for a new standalone store for its Nutmeg clothing and homeware ranges. Spanning 5,400 square feet, the shop will employ 16 new members of... View Article
  
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• Morrisons appoints Jeremy Townsend as non-exec director

  06-07-2020 01:00 via theretailbulletin.com
  
  The Morrisons supermarket chain has appointed Jeremy Townsend as a non-executive director with immediate effect. Currently chief financial officer of Rentokil, Townsend was previously group finance director... View Article
  
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• Macy’s directs millennial traffic with TIBCO Mashery

  06-07-2020 01:00 via theretailbulletin.com
  
  Easy innovations for mobile buys, increased conversions, just-right scaling. CHALLENGE “Macy’s overarching business goals are centered around a famous quote from our first woman executive, Margaret... View Article
  
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• Join us virtually at our Retail Customer Marketing Webinar

  06-07-2020 01:00 via theretailbulletin.com
  
  Getting the right customer marketing in place is becoming ever more crucial in this Covid-19 world and retailers who implement the most successful campaigns will be... View Article
  
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• Buzz Bingo unveils August reopening plans

  06-07-2020 01:00 via theretailbulletin.com
  
  Retail bingo operator Buzz Bingo has unveiled plans to reopen clubs from 6 August. The clubs will have enhanced safety measures in place to keep customers and staff safe during... View Article
  
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• A smart solution to ensure safety in hospitality post COVID-19

  06-07-2020 01:00 via theretailbulletin.com
  
  Guest post: Mark Walker, Head of Sales – Ingenico Enterprise Retail – It was back in March that restaurants and bars were ordered to shut by... View Article
  
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