Retail news

• Next, Asos and Amazon drop Boohoo amid Leicester factory claims

  07-07-2020 21:42
  
  Retailers suspend label from websites after report on supplier working conditions
  Next, Asos and Amazon pulled all Boohoo clothing from sale as growing anger over workers’ pay and conditions at the company’s suppliers resulted in £1.5bn being wiped from the fast fashion brand’s value in two days.Allegations that some factories in Leicester that sell clothes to Boohoo pay as little as £3.50 an hour and failed to protect workers from coronavirus emerged last week. On
  
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• No business need at all now for a Chinese nuclear plant in the UK

  07-07-2020 20:37
  
  Halting Huawei hurts 5G rollout and Sino-British ties, but stopping a Chinese nuclear power plant in Essex has no fallout at allGet ready for the “new Huawei”, says the word from Westminster, meaning another flare-up in UK-China business and political relations, this time over Chinese involvement in our nuclear power programme.Ditching state-owned China General Nuclear Power Group (CGN) would indeed be a political development on a political par with a Huawei exclusion. The 2016 agree
  
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• Next, Asos and Zalando drop Boohoo from websites

  07-07-2020 19:06 via ft.com
  Group loses third of market value in two days over concerns supplier factory was paying illegally low wages
  
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• Burford Capital’s US listing will test its fair value

  07-07-2020 18:29 via ft.com
  Litigation funder crosses the water; Halfords shows it's not all doom
  
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• Crime fiction boom as book sales rocket past 2019 levels

  07-07-2020 18:17
  
  With bookshops still closed in parts of the UK, sales have surpassed last year’s numbers, with 3.8m print books sold in the last weekBritain’s readers have been emerging from lockdown to restock their bookshelves, with book sales – and particularly crime novels – booming in the three weeks since booksellers were allowed to open their doors.The print market continued its healthy run since England’s bookshops reopened on 15 June, with 3.8m books sold in the last week,
  
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• TM Lewin: What went wrong?

  07-07-2020 18:12 via retailgazette.co.uk
  A BRIEF TIMELINE
  1898: Thomas Mayes Lewin, in partnership with Geoffrey James Lewin, opens his first shop on London’s Panton Street. TM Lewin started out making shirts but later started to sell suits, outerwear, knitwear, jackets, chinos, ties and accessories for men.
  1903: The menswear retailer relocated to Jermyn Street in London. TM Lewin’s “coat shirt” was described as a “novel idea” in British magazine London Opinion and Today. TM Lewin developed a reputa
  
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• JD Sports warehouse in Rochdale hosts mobile Covid-19 lab after positive tests

  07-07-2020 18:11
  
  Local health chiefs investigate minor outbreak at facility after ‘small number of workers’ contract virusA mobile testing lab has been set up at JD Sports’ central warehouse in Rochdale after a small number of workers there tested positive for coronavirus.Rochdale borough council said it was investigating if there were any links between cases at the fashion retailer’s site which were identified through its local track and trace system after testing “as many employee
  
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• Wary optimism on high street as town centres face an uncertain future

  07-07-2020 17:56 via ft.com
  As customers return to Southwold, Adnams and other retailers reflect on life after lockdown
  
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• Shoe Zone opens 50th out-of-town concept store in Cardiff

  07-07-2020 17:13 via retailgazette.co.uk
  // New concept Shoe Zone store comes to Cardiff
  // It also marks the 50th out-of-town store of the retailerShoe Zone has chosen Cardiff’s City Link Retail Park as the location of its 50th out-of-town store, which opened last week.
  The new store has created five new jobs and provided two internal promotions.
  Shoe Zone underwent a transformation in to create a new look and refreshed branding for this concept store.READ MORE: Shoe Zone welcomes new finance boss
  Shoe Zone shuts down 20 st
  
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• The pandemic has exposed the dark underside of fast fashion's supply chains | Niloufar Haidari

  07-07-2020 16:54
  
  Boohoo and other brands known for their influencer-to-landfill pipelines have come under scrutiny during this crisisAren’t you so over lockdown life? I am. After three months of “namastaying-inside” wearing my crop-top ensembles and glamming up on the weekends for Zoom drinks with my besties, I was more than ready to step outside last weekend. No, this isn’t something I made up: namastay-inside is a phrase recently coined by the fast fashion retailer Boohoo in order to se
  
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• Bike sales boom fails to offset car business slide at Halfords

  07-07-2020 16:47 via ft.com
  Retailer optimistic over motoring revenues as consumers choose private travel
  
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• Next and Asos drop Boohoo amid Leicester garment factory claims

  07-07-2020 16:33
  
  Fashion retailers suspend label from websites after report on supplier working conditions
  Asos and Next have dropped the fast-fashion brand Boohoo after claims that some factories supplying its clothes paid less than minimum wage and failed to protect workers from coronavirus.The company had more than £1.5bn wiped off its stock market value on Monday in response to the allegations. Related: Fast fashion creates misery, and that's a bad look | BidishaContinue reading...
  
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• Fast fashion creates misery, and that's a bad look | Bidisha

  07-07-2020 16:12
  
  Cheap, throwaway clothing was past its sell-by date even before the Leicester garment factory reports. Brands like Boohoo need to change their act – and so do consumersDuring lockdown, everyone’s id has been allowed to float untethered. Obsessions, manias, strange desires and perverse fantasies have risen to the surface as the conventions of normal life melted into a free-floating miasma of Netflix and pasta bakes.Judging by the spike in sales of fast fashion, many people across the
  
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• H&M to permanently shut down 170 stores worldwide

  07-07-2020 14:46 via retailgazette.co.uk
  // H&M announces plans to permanently shut down 170 stores as coronavirus impact bites
  // It is not yet clear how many of those stores are part of the fashion giant’s UK store estate
  // H&M Group said 7% of its stores remained closed at the end of June to do the pandemicH&M has announced plans to shut 170 of its stores across its global estate after accelerating closure strategy in the face of coronavirus.
  The Swedish retail giant said that sales dived by a quarter in June as i
  
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• H&M to permanently shut down 170 stores across Europe

  07-07-2020 14:46 via retailgazette.co.uk
  // H&M announces plans to permanently shut down 170 stores as coronavirus impact bites
  // It is not yet clear how many of those stores are part of the fashion giant’s UK store estate
  // H&M Group said 7% of its stores remained closed at the end of June to do the pandemicH&M has announced plans to shut 170 of its stores across Europe after accelerating closure strategy in the face of coronavirus.
  The Swedish retail giant said that sales dived by a quarter in June as it was still
  
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• Sluggish footfall recovery in week leading up “Super Saturday”

  07-07-2020 14:33 via retailgazette.co.uk
  // UK footfall recovery in the week leading up pubs and restaurants reopening remained sluggish
  // Footfall was down 49.6% for the week ending July 4 compared to the same week a year ago, says the BRC
  // Compared to the previous week though, footfall was up 15.3%The rate of recovery for footfall across the UK in the week leading up “Super Saturday” reopening remained sluggish on last year, with the reopening of pubs and cafes failing to deliver a boost.
  According to a special release
  
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• River Island to make 250 head office job redundancies

  07-07-2020 13:54 via retailgazette.co.uk
  // River Island to cut 250 roles from its head office
  // The move aims to reduce costs after the retailer was affected by falling sales and a plunging footfall
  // Affected staff were informed this morningRiver Island is reportedly about to make 250 head office staff redundant as a cost-cutting measure after the coronavirus pandemic triggered a fall in sales and footfall.
  According to reports in Retail Week and Drapers, River Island chief executive Will Kernan wrote to staff to inform them that t
  
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• Halfords predicts bicycle boom to continue for 2020

  07-07-2020 13:19
  
  Chain struggles to keep up with demand for pedal-powered and electric bikes but lockdown dents motoring profits Halfords expects strong demand for bikes to continue for the rest of the year after booking a 57% rise in cycling-related sales during the coronavirus pandemic.A desire to avoid public transport, as well as generally favourable weather conditions and a switch to cycling as a leisure activity during the UK lockdown not only boosted sales of bikes but also demand for servicing. Sales sur
  
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• Aldi commits to never selling chlorinated chicken & hormone-injected beef

  07-07-2020 13:17 via retailgazette.co.uk
  // Aldi commits to never selling chlorinated chicken and hormone-injected beef in its UK stores
  // The pledge comes as the UK prepares to leave the EU and the trading deals that come with itAldi has made a pledge to stop selling chlorinated chicken and hormone-injected beef across its UK stores, regardless of future trade deals as the UK prepares to exit the EU.
  The chief executive of the German retailer’s UK arm, Giles Hurley, vowed that the discount grocery chain would only sell fresh ch
  
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• Boohoo shares plunge amid concern over factory conditions

  07-07-2020 12:06
  
  More than £1.5bn wiped off online fashion retailer’s stock market value in just two daysThe value of the online fashion retailer Boohoo has plunged by more than £1.5bn in two days, after revelations about conditions endured by the workers that supply its garments.Boohoo’s sales have been booming during the coronavirus lockdown as consumers shifted to buying clothes online, but its shares fell by 14% in early trading on Tuesday, extending the previous day’s falls. Co
  
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• Boohoo shareholders demand answers after shares plunge by a third

  07-07-2020 12:06
  
  More than £1.5bn wiped off online fashion retailer’s market value in two days amid concern over factory conditionsShareholders in Boohoo are seeking answers from the company over conditions for workers supplying its garments after the online fashion specialist’s shares plunged more than £1.5bn in two days.The company has lost nearly a third of its value since Friday afternoon after Boohoo said on Monday it was investigating claims that staff at one of its Leicester factor
  
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• JD Sports chairman renews calls for rent reform

  07-07-2020 11:46 via ft.com
  Peter Cowgill says store openings will be curtailed unless there is ‘realism’ on leases
  
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• Amazon could soon be forced to reveal its closely guarded “source codes and algorithms”

  07-07-2020 11:29 via chargedretail.co.uk
  
  Amazon may be forced to reveal its closely guarded “source codes and algorithms” if it wants to continue trading in India.
  India is working on a new ecommerce policy designed to diminish the dominance of big tech companies like Amazon and Google on its online retail markets.
  The proposed legislation, seen by Bloomberg, would mandate government access to these company’s source codes and algorithms to ensure there are no “digitally induced biases” giving them an
  
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• Soletrader to permanently shut 8 UK stores

  07-07-2020 10:58 via retailgazette.co.uk
  // Soletrader owner Twinmar Limited has placed it into a creditors’ voluntary liquidation
  // The retailer will shutter eight shops in the UKSoletrader will reportedly shutter eight stores in the UK after its parent company Twinmar Limited placed it into a creditors’ voluntary liquidation.
  RG Insolvency directors Avner Radomsky and Michael Goldstein were appointed as joint liquidators of Twinmar Limited on June 19.
  A new subsidiary of the Twinmar Group, Twinmar London Limited, bought
  
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• Sosandar sees “robust growth” as sales rise 54%

  07-07-2020 10:01 via retailgazette.co.uk
  // Sosandar sales climb 54% in the quarter to June 30
  // The retailer cut losses by 70%Sosandar has seen its sales climb during the first quarter and has significantly cut its losses by 70 per cent.
  Total sales at the online fashion retailer rose by 54 per cent year on year in the quarter to June 30, when losses were reduced thanks to a lower marketing spend.
  The retailer said the performance showed “the strength of the company’s business model and continued demand for its offering&r
  
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• Creditors green light AllSaints’ CVA proposal

  07-07-2020 09:25 via retailgazette.co.uk
  // AllSaints launches CVA after creditors’ approval
  // 93% creditors backed the plans – way above the 75% required thresholdAllSaints has had its CVA proposals approved by over the required 75 per cent of creditors as it seeks to “ensure the long-term viability” of its business.
  The fashion retailer said that CVAs of All Saints Retail Limited and subsidiary AllSaints USA Limited gained ”majorities significantly above the required threshold of 75 per cent” afte
  
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• Halfords cycling sales surge as Brits avoid public trasport

  07-07-2020 09:07 via retailgazette.co.uk
  // Halfords profits rise ahead of guidance
  // The retailer has warned on trading conditions despite the riseHalfords has seen full-year profits rise ahead of guidance but has cautioned on trading conditions due to the impact of Covid-19.
  The retailer, which was classed as essential, was allowed to remain open during the lockdown, and said overall group sales in the 13 weeks to July 3 were down 2.8 per cent compared to last year.
  Like-for-like sales dropped 6.5 per cent, while underlying pre-tax
  
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• JD Sports seeks “rental realism” as Covid-19 impacts footfall

  07-07-2020 08:47 via retailgazette.co.uk
  // JD Sports sales rise 30% to £6.11 billion in the year ending February 1
  // Pre-tax profit rose 3% to £348.5 million over the yearJD Sports has seen its sales and profits rise and now expects the growth to continue despite the impact of Covid-19.
  The sportswear retailer reported a sales growth of 30 per cent to £6.11 billion in the year ending February 1, before the lockdown was implemented.
  Like-for-likes advanced approximately 10 per cent in JD’s core UK and Ireland b
  
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• Virtual event – creating winning retail marketing strategies

  07-07-2020 01:00 via theretailbulletin.com
  
  Retailers have been forced to adapt their retail marketing plans at lightning speed following the Covid-19 crisis. And some are already achieving tangible success through increased sales despite the difficult... View Article
  
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• Sosandar increases Q1 revenue by 54%

  07-07-2020 01:00 via theretailbulletin.com
  
  Women’s fashion retailer Sosandar increased its revenue by 54% in its first quarter despite a difficult trading environment during the Covid-19 pandemic. When combined with a significantly... View Article
  
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• Snag Tights launches search for brand ambassador

  07-07-2020 01:00 via theretailbulletin.com
  
  Hosiery brand Snag Tights has launched a social media campaign to help it find a global brand ambassador. In a Facebook post, the company said it is seeking... View Article
  
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• Pret A Manger to close 30 stores

  07-07-2020 01:00 via theretailbulletin.com
  
  Sandwich chain Pret A Manger is to close around 30 shops as part of a Covid-19 crisis restructuring exercise. While the shop closures will result in... View Article
  
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• JD Sports posts uplifts in annual sales and profit

  07-07-2020 01:00 via theretailbulletin.com
  
  JD Sports has posted uplifts in full year sales and profit after experiencing “very strong” demand from consumers across its core markets. In the year to 1 February,... View Article
  
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• High street footfall boosted by hospitality reopenings

  07-07-2020 01:00 via theretailbulletin.com
  
  New figures have shown that footfall in England’s high streets rose by 19.6% on Saturday as people headed out to visit newly reopened hospitality and leisure venues. The data... View Article
  
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• Guide: How to get started with AI

  07-07-2020 01:00 via theretailbulletin.com
  
  Artificial intelligence (AI) is no longer a “nice to have” for retailers, but a business essential.  Peak work with the likes of ASOS, Footasylum and boohoo,... View Article
  
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• AO appoints lead for housebuilder sector team

  07-07-2020 01:00 via theretailbulletin.com
  
  AO Business has appointed John Farnham as the new lead for its housebuilder team following his success in the role of national account manager for the B2B division of... View Article
  
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• All Saints CVA approved by creditors

  07-07-2020 01:00 via theretailbulletin.com
  
  Fashion retailer All Saints has confirmed that its creditors have approved CVAs for both for All Saints Retail and its subsidiary in the US after the company... View Article
  
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