Retail news

• Boohoo shares rise 12% after co-founders pump £15m into firm

  16-07-2020 19:21
  
  Kamani and Kane buy shares after company hit by claims of malpractice in supply chain
  The co-founders of Boohoo have bought another £15m of shares in the troubled online fashion business, helping to drive the share price 12% higher on Thursday.Mahmud Kamani pumped £10.7m into 5m shares in the company, while Carol Kane spent £4.3m on the stock on Thursday in an effort to rebuild confidence in Boohoo, which has been hit by allegations of malpractice in its supply chain. Continue
  
  Read more

• Boohoo shares rise 12% after co-founders pump £15m into company

  16-07-2020 19:21
  
  Mahmud Kamani and Carol Kane buy millions of shares in effort to rebuild confidence in businessThe co-founders of Boohoo have bought another £15m of shares in the troubled online fashion business, helping to drive the share price 12% higher on Thursday.Mahmud Kamani pumped £10.7m into 5m shares in the company while Carol Kane spent £4.3m on the stock on Thursday in an effort to rebuild confidence in Boohoo, which has been hit by allegations of malpractice in its supply chain. C
  
  Read more

• Canary Wharf traders and landlord bank on return to offices

  16-07-2020 19:06
  
  Once bustling financial district in east London is much emptier, but workers are starting to come backThe businesses that ordinarily pack thousands of workers into the gleaming towers of London’s Canary Wharf have paid little heed to the government’s recent calls to get staff back to the office.On an overcast weekday, the few people walking along the streets of the financial district in the east of the capital were casually dressed for shopping rather than a day at a desk in the head
  
  Read more

• Will Boohoo’s young customers overlook the modern slavery scandal?

  16-07-2020 16:57 via retailgazette.co.uk
  The retail industry has been left wondering what the future has in store for Boohoo Group, a booming fast fashion company that recently posted annual sales of £1.23 billion, after its Leicester factory was accused of modern slavery.
  A Sunday Times investigation earlier this month saw the online fashion giant embroiled in controversy over allegations that its Leicester factory was paying garment workers as little as £3.50 an hour. The factory in question was also accused of reportedl
  
  Read more

• Advertisement

• Bensons for Beds welcomes new chair to boost leadership

  16-07-2020 16:55 via retailgazette.co.uk
  // Bensons for Beds hires Chris Howell as new chair to boost leadership team
  // Howell will work closely with CEO Mark Jackson and CFO John Sidebotham
  // Joe Wykes has joined as COOBensons for Beds has appointed Chris Howell as its new chairman in a bid to strengthen its executive team amid driving the business’ growth.
  After securing a restructuring deal, that injected £25 million of new investment to grow the business, the bedding retailer has unveiled its new leadership team.
  The
  
  Read more

• 61 job cuts at Intu HQ following administration

  16-07-2020 16:40 via retailgazette.co.uk
  // Intu announces redundancies after collapsing into administration last month
  // Intu CEO Matthew Roberts resigned two weeks ago after failing to renegotiate with lendersIntu has reportedly made redundancies at both its London head office and one of its subsidiary property companies after collapsing into administration last month.
  The shopping centre owner has cut 46 roles from its group head offices in London, as well as a further 15 jobs at its Broadmarsh centre in Nottingham, Retail Week rep
  
  Read more

• 390 job cuts at White Stuff

  16-07-2020 15:35 via retailgazette.co.uk
  // White Stuff reportedly makes 390 redundancies across HQ and UK stores
  // The cuts are part of a transformation scheme as a result of the Covid-19White Stuff has reportedly made 390 of its staff across its head office and shop floor teams redundant.
  According to Drapers, the job cuts form part of a wider restructuring and transformation scheme, which has now been completed.
  The redundancies reportedly affected 100 head office staff and 290 employees from its UK store estate.heaREAD MORE:&
  
  Read more

• Consumer spending and homebuilder confidence point to US recovery

  16-07-2020 15:01
  Retail sales climb 7.5% as Americans return to work, but reversal of reopening threatens progress
  
  Read more

• Advertisement

• Next in final stages of buying UK arm of Victoria's Secret

  16-07-2020 14:49
  
  Lingerie brand would be second bold acquisition by retailer during coronavirus crisisCoronavirus – latest updatesSee all our coronavirus coverageNext is finalising a deal to take on the UK arm of the lingerie brand Victoria’s Secret, which fell into administration last month.The brand, once renowned for its controversial fashion shows featuring models known as “angels”, would give Next access to a potentially younger consumer. Continue reading...
  
  Read more

• Dobbies & Sainsbury’s launch grocery partnership

  16-07-2020 13:21 via retailgazette.co.uk
  // Dobbies and Sainsbury’s announce new grocery partnership
  // The deal seas Dobbies stocking Sainsbury’s food products and other basic grocery items
  // Dobbies announced a smaller, but similar, deal with northern grocer Booths in 2018Dobbies has announced an exclusive partnership with Sainsbury’s to bring a range of food and grocery products to the former’s garden centres.
  The partnership will launch at Dobbies’ Edinburgh garden centre in late July, giving customer
  
  Read more

• PrettyLittleThing panned on social media for selling “useless” Diamante Fishnet Mask

  16-07-2020 11:57 via chargedretail.co.uk
  
  PrettyLittleThing (PLT) has been widely panned on social media for selling a fishnet diamante face mask which was branded as “useless”.
  The online fast fashion giant listed its ‘Diamante Fishnet Mask’ earlier this week following news that face masks will be made mandatory in stores across the UK from July 24.
  PLT has since removed the £10 face mask from sale on its website, but not before shoppers took to social media to ridicule the product.
  In April PrettyLittleTh
  
  Read more

• Richemont quarterly sales halve as luxury sector absorbs body blow

  16-07-2020 11:23
  Cartier owner offers no financial guidance but says China offers bright spot
  
  Read more

• Half of shops reopened since June as Brits continue staying home

  16-07-2020 11:07 via retailgazette.co.uk
  // Just half of UK stores have reopened since lockdown was eased
  // The East Midlands had the lowest reopening rate across EnglandNew research has shown that only half of the UK’s shops have reopened since lockdown was eased last month, as Brits show increased preference for staying home.
  Of the 20,351 sites that were allowed to reopen, including restaurants, takeaway shops and travel agents, 52 per cent had done so, according to a new survey from the Local Data Company (LDC).
  The East Mid
  
  Read more

• Amazon Deliveroo deal could create “gaping hole in UK merger regime” according to rival Domino’s

  16-07-2020 11:04 via chargedretail.co.uk
  
  Amazon’s upcoming tie-up with Deliveroo has once again been slammed by its rivals who claim the competition and markets authority’s (CMA) decision to let it go ahead is “incomplete and unsafe”.
  Last month the CMA gave the deal, which will see Amazon take a 16 per cent stake in Deliveroo, the provisional green light for the second time adjusting its reasoning for the decision in light of a major backlash from rivals.
  These opposing rivals included pizza delivery giant Dom
  
  Read more

• Boohoo should serve as a wake-up call for ESG

  16-07-2020 11:00
  Investors must do more to hold fast-fashion chains to account
  
  Read more

• Jobs at risk as Office owner negotiates fresh funding

  16-07-2020 10:44 via retailgazette.co.uk
  // Office owner Truworths International is negotiating fresh funding to secure the unit’s viability
  // Truworths International said the economic crisis caused by the pandemic has resulted in “diminished” revenue
  // Truworths International, a South African retail group, bought a majority stake in Office in 2015Office owner Truworths International is negotiating fresh funding for the British footwear retailer as part of measures to secure the unit’s viability.
  The group, wh
  
  Read more

• Next in line for Victoria’s Secret UK franchise

  16-07-2020 10:15 via retailgazette.co.uk
  // Next in pole position for taking over Victoria’s Secret UK operations
  // An “outline deal” reportedly agreed that sees Next with an “exclusivity” deal over Victoria’s Secret
  // Next beat off bidding competition from Marks & SpencerNext has reportedly been chosen as the “preferred” UK franchise partner for Victoria’s Secret and has agreed an outline deal to takeover the business on this side of the Atlantic.
  According to Sky News, Next
  
  Read more

• Asos mulls taking action against suspicious Leicester supplier

  16-07-2020 10:03 via retailgazette.co.uk
  // Asos considers action against Leicester supplier after its factory was in breach of its ethical trading standards
  // CEO Nick Beighton said one factory had been tagged as “red critical” in the last few monthsAsos is reportedly mulling taking action against a Leicester supplier after finding its factory to be in breach of its ethical trading standards amid the Covid-19 crisis.
  The online fashion retailer’s chief executive Nick Beighton said one factory had been tagged as
  
  Read more

• Poundland reveals ecommerce pilot as part of transformation scheme

  16-07-2020 09:39 via retailgazette.co.uk
  // Poundland unveils major transformation programme
  // Customers will see refreshed stores, broadened offerings choice and technology investment
  // Poundland is also set to pilot an ecommerce scheme via a Cannock fulfilment centrePoundland has announced a new transformation programme that features changes to stores, pricing, and the overall breadth of its offerings – including an ecommerce pilot.
  The discount retailer added that it hopes its transformation could help lead the recovery of t
  
  Read more

• London’s West End at risk of losing £5bn in sales & 50,000 jobs

  16-07-2020 09:06 via retailgazette.co.uk
  // London’s West End welcomed 5.1 million visitors since 15 June, but this was still down 73% year-on-year
  // New West End Company says the areas is at risk of £5bn loss in sales, putting over 50,000 jobs at risk
  // Reforming tax-free shopping could add £1.4bn in retail sales & give an overall benefit of £2.1bn to the UK economyMore than 50,000 jobs could be at risk in London’s West End if tourists and office workers do not return, a partnership representing the
  
  Read more

• Up to 240,000 UK fashion jobs at risk, warns industry body

  16-07-2020 05:00
  British Fashion Council urges more help for sector where a quarter of roles could be axed
  
  Read more

• MPs demand fresh answers from Boohoo

  16-07-2020 01:02
  Committee urges retailer to recognise unions and join audit body
  
  Read more

• Zalando upgrades guidance after strong second quarter

  16-07-2020 01:00 via theretailbulletin.com
  
  Online fashion retailer Zalando has upgraded its full year guidance after achieving strong sales in its second quarter. The company now expects to grow its GMV by 20% to 25% and revenue by... View Article
  
  Read more

• Report: How UK retailers are diversifying and increasing revenue streams using secondary revenue strategies

  16-07-2020 01:00 via theretailbulletin.com
  
  As we navigate our way through the Covid crisis, Webloyaltys’ secondary revenue bench-marking report is as relevant now as ever. Beyond the Core II looks at... View Article
  
  Read more

• Q&A: Toby Sturridge, CTO, SDWAN Solutions, London & Brussels

  16-07-2020 01:00 via theretailbulletin.com
  
  Toby Sturridge, CTO of SDWAN Solutions Ltd (UK) & DG of SDWAN Solutions SRL (BE), is an SD-WAN Technical Subject Matter Expert and holds certifications across... View Article
  
  Read more

• Mattress Online sees surge in revenue during lockdown

  16-07-2020 01:00 via theretailbulletin.com
  
  Online mattress retailer Mattress Online has increased its sales by 131% during the Covid-19 lockdown period. The company’s figures also show that the number of UK customers searching... View Article
  
  Read more

• Hornby unveils board changes

  16-07-2020 01:00 via theretailbulletin.com
  
  Hornby has announced some changes to its board of directors following a recent strategy review and refinancing. The models and collectibles company said James Wilson has decided that... View Article
  
  Read more

• Dobbies and Sainsbury’s embark on food and grocery partnership

  16-07-2020 01:00 via theretailbulletin.com
  
  Dobbies and Sainsbury’s have embarked on an exclusive partnership in which the garden centre chain will begin selling Sainsbury’s food and grocery products in its garden centres. The... View Article
  
  Read more

• Buck Street Market reopens for business

  16-07-2020 01:00 via theretailbulletin.com
  
  Camden’s Buck Street Market has officially reopened following the easing of Covid-19 lockdown restrictions. Its owner LabTech said 80% of Buck Street’s traders are now up and... View Article
  
  Read more

• Big US retail chains to require masks for all shoppers

  16-07-2020 00:25
  Walmart, Kohl’s and Kroger act on their own in face of mixed response by authorities
  
  Read more

Follow @retailuknws on Twitter!