Retail news

• Kering blunts profit hit but warns of difficulty predicting demand

  28-07-2020 21:12
  Gucci owner sees signs of improvements and says sales benefiting from ‘revenge buying’
  
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• Kering blunts profit hit but warns future demand is baffling

  28-07-2020 21:12
  Gucci owner sees signs of improvements and says sales benefiting from ‘revenge buying’
  
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• Hut Group appoints banks for possible IPO

  28-07-2020 20:46
  Online health and beauty retailer has previously expressed reluctance to list
  
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• Boohoo must publish its independent review in full

  28-07-2020 20:15
  
  To show it means business the fast fashion firm should offer more than an ‘update’The first boardroom rule when commissioning an independent review after an alleged scandal is to commit to publishing the final document in its entirety. If the aim is transparency, there should be no half measures.Boohoo failed on this front on Tuesday. The fast fashion group has asked Alison Levitt QC to investigate the supply chain in Leicester, but it hasn’t promised to put her report in the p
  
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• Games Workshop hails performance as sales smash £269m

  28-07-2020 17:15 via retailgazette.co.uk
  // Games Workshop sales rise during Covid-19 lockdown
  // Revenues rise 5% to £269.7m
  // Pre-tax profits climbed 10% to £89.4mGames Workshop has posted record sales after calling the last year the “best in its history” thanks to a rapid rise sales and profits.
  The Warhammer fantasy figurines retailer recorded a five per cent rise in revenues to £269.7 million for the year to the end of May, while pre-tax profits climbed 10 per cent to £89.4 million.
  G
  
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• Former John Lewis digital director joins Kingfisher

  28-07-2020 16:31 via retailgazette.co.uk
  // B&Q owner Kingfisher hires two new directors
  // Ex-John Lewis digital director Sienne Veit joins as group digital product & platform director
  // Financial Times chief data officer will join as group data director in SeptemberKingfisher has appointed two new directors to its team in an effort to renew its focus on ecommerce.
  The B&Q owner drafted in the former John Lewis digital director Sienne Veit as group digital product and platform director.
  Meanwhile, the chief data officer a
  
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• Are grocers doing enough to combat obesity?

  28-07-2020 16:21 via retailgazette.co.uk
  While grocers have been working hard to replenish stock and protect customers and consumers during the Covid-19 crisis, one thing may have slipped their minds – the amount of unhealthy offerings near the cash points.
  If there’s one thing that’s been on consumers’ minds during the pandemic, it’s their health. However, grocers have seemingly repressed efforts to combat obesity despite capitalising on the rise of veganism.
  Prior to the pandemic, The Royal Society
  
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• Greggs in talks over funding as it guards against lockdown risk

  28-07-2020 15:30
  Trading recovers at UK bakery chain after £65m pre-tax loss in the first half
  
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• Games Workshop shrugs off pandemic as profits jump

  28-07-2020 14:32
  Maker of fantasy war game miniatures delivers strong earnings despite shutdown of business
  
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• Travis Perkins half year sales drop 20%

  28-07-2020 14:05 via retailgazette.co.uk
  // Travis Perkins’ half year sales drop 20% to £2.78bn
  // Group like-for-likes were almost 35% lower in the second quarter, although things improved by June
  // The company’s Toolstation & Wickes stores benefited from “strong DIY sales” amid surging demand during lockdownTravis Perkins has said that sales dived 20 per cent in the first half of its financial year as it was hit by the coronavirus pandemic.
  The home improvement and hardware retailer said revenue slu
  
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• High street gloom eases as UK shops report brisker trade

  28-07-2020 13:15
  
  Retailers report best sales in more than a year after the easing of lockdown restrictionsCoronavirus – latest updatesSee all our coronavirus coverageUK retailers enjoyed their best sales in more than a year following the reopening of non-essential stores in mid-June, according to the latest snapshot of spending from the CBI.The employers’ organisation found there had been a much sharper bounce-back than retailers had been expecting following the lifting of restrictions imposed to lim
  
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• McDonald’s reports lowest quarterly profit in 13 years

  28-07-2020 13:00
  Pandemic hits sales and pushes up costs but monthly trends point to a pick-up
  
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• Online sales tax would force vulnerable shoppers to pay “a large chunk of the COVID-19 bill”

  28-07-2020 12:17 via chargedretail.co.uk
  
  An ‘Amazon Tax’ in the UK would force vulnerable shoppers to “pick up a large chunk of the COVID-19 bill” according to industry experts.
  A nationwide online sales tax was yesterday proposed by chancellor Rishi Sunak in a bid to alleviate the pressure on the crumbling high street and provide a £2 billion “sustainable and meaningful revenue source for the government”.
  The chancellors proposed measures would see a two per cent levy on all online sales along
  
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• Selfridges plans ‘fundamental’ changes as it cuts 450 jobs

  28-07-2020 12:08
  Department store chain adapting to shift in shopping habits accelerated by pandemic
  
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• Moncler posts first ever operating loss due to Covid-19

  28-07-2020 11:48 via retailgazette.co.uk
  // Moncler posts first ever first-half operating loss due to coronavirus pandemic
  // The retailer did not provide a forecast for the rest of the yearMoncler has reported a first-half operating loss for the first time in its history as its sales dropped thanks to the Covid-19 crisis.
  The luxury retailer did not set a forecast for the rest of the year but said it expected no immediate recovery following the lockdown ease.
  “It is difficult to know how the second half of the year will evolve,&
  
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• Selfridges announces 450 job cuts

  28-07-2020 11:38 via retailgazette.co.uk
  // Selfridges has told staff it plans to cut 450 jobs – around 14% of its total headcount
  // It says annual sales are set to be “significantly less” than last year due to Covid-19
  // Selfridges MD Anne Pitcher promised staff on furlough that their working now would have no effect on whether their role would be impactedSelfridges has told staff it plans to cut 450 jobs as it warned annual sales are expected to be “significantly less” than last year due to the co
  
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• Selfridges to cut 450 jobs as Covid-19 leads to 'toughest year'

  28-07-2020 11:27
  
  Redundancies at department store chain follow 700 job losses at Harrods this monthCoronavirus – latest updatesSee all our coronavirus coverageSelfridges is to cut 450 jobs across its department stores, in the latest blow to UK high street retailers hit hard by the coronavirus pandemic.The cuts represent 14% of its workforce and Anne Pitcher, group managing director of the luxury department store chain, said it was the “toughest decision we have ever had to take”. Continue readi
  
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• Selfridges to cut 450 jobs as Covid-19 causes 'toughest year'

  28-07-2020 11:27
  
  Redundancies at department store chain follow 700 job losses at Harrods this monthCoronavirus – latest updatesSee all our coronavirus coverageSelfridges is to cut 450 jobs across its department stores, in the latest blow to UK high street retailers hit hard by the coronavirus pandemic.The cuts represent 14% of its workforce and Anne Pitcher, group managing director, said it was the “toughest decision we have ever had to take”. Selfridges operates four department stores in the U
  
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• Amazon challenges UK supermarkets with free grocery delivery

  28-07-2020 11:18
  Fresh service will be offered free of charge to millions of Prime members
  
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• LVMH revenues drop 38% despite sales improving since lockdown ease

  28-07-2020 10:44 via retailgazette.co.uk
  // LVMH sales recover in June as stores began to reopen
  // LVMH had closed stores due to a government-mandated coronavirus lockdownLouis Vuitton owner LVMH has seen its sales pick up in June as stores reopened following a government-mandated lockdown.
  Revenues came in at €7.8 billion (£7 billion) in the April to June period, down 38 per cent on a like-for-like basis.
  The group increased its prices by five per cent at its flagship brand Louis Vuitton at the end of June — marking
  
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• Card Factory endures Covid-19 as revenues exceed expectations

  28-07-2020 09:57 via retailgazette.co.uk
  // Card Factory sales dropped but revenues raked in at above expectations
  // Like-for-like sales were down 21.6% year-on-year since June 15
  // The retailer had expected sales to drop by 50%Card Factory has seen its sales decline while revenues were recorded at above expectations since stores reopened last month.
  The greetings card and gifting retailer said like-for-like sales were down by 21.6 per cent year-on-year since June 15, compared to an expected drop of 50 per cent.
  Despite transactions
  
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• Greggs swings to a loss in half-year results

  28-07-2020 09:42 via retailgazette.co.uk
  // Greggs swings to a £65.2m loss in the six months to July
  // Sales across the six months were down 45% to £300.6mGreggs is still struggling to reach the heady heights of last year even after reopening hundreds of sites across the UK since lockdown restrictions eased, the bakery chain has revealed.
  Last week the foot-to-go retailer said it only sold around 72 per cent of the pasties, drinks and sandwiches that it did in the same seven days in 2019.
  However, it said it is finding sal
  
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• Halfords lauches’ governmnent’s bike repair vouchers

  28-07-2020 09:30 via retailgazette.co.uk
  // Halfords launches £50 bike repair scheme today
  // The government’s Fix Your Bike scheme aims to encourage more cyclistsThe UK Government’s delayed £25 million bike repair scheme has launched today, Halfords has announced.
  Halfords said customers in England will be able to use £50 vouchers towards the cost of fixing bikes.
  Up to half a million of the vouchers to help the public “drag bikes out of retirement” were initially due to be issued from June as
  
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• Walgreens Boots Alliance CEO Stefano Pessina steps down

  28-07-2020 09:16 via retailgazette.co.uk
  // Stefano Pessina, CEO of Walgreens Boots Alliance, is stepping down
  // Walgreens Boots Alliance is the US-based parent company of Boots
  // The board is currently conducting a search for Stefano Pessina’s successorWalgreens Boots Alliance has announced that chief executive Stefano Pessina will be stepping down to become executive chairman of the company.
  The board of the US-based parent company of Boots is currently conducting a search for Pessina’s successor.
  Pessina was formally n
  
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• Greggs says trading to be depressed while social distancing in place

  28-07-2020 09:02
  Bakery chain forced to write off £9m in inventory as pandemic prompted store closures
  
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• Nike diversity chief leaves after two years in role

  28-07-2020 02:49
  CEO John Donahoe promises ‘more meaningful change’ at sportswear group
  
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• Amazon plans big expansion of UK online grocery service

  28-07-2020 01:01
  
  Company seeks to capitalise on uplift in demand following Covid-19 lockdown restrictionsAmazon is stepping up its competition with British supermarkets by pressing ahead with the wider UK rollout of its online grocery service by the end of the year.Larger orders on Amazon Fresh will be free to members of the online retailer’s Prime service from Tuesday and will begin to cover more areas in the UK, as the $1.5tn (£1.2tn) company seeks to capitalise on the growth in doorstep deliveries
  
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• Wickes sales begin to recover in June

  28-07-2020 01:00 via theretailbulletin.com
  
  Travis Perkins has said its Wickes DIY business achieved strong sales growth in June following the re-opening of its stores in late May during the Covid-19 lockdown.... View Article
  
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• Stefano Pessina to step down as CEO of Walgreens Boots Alliance

  28-07-2020 01:00 via theretailbulletin.com
  
  Walgreens Boots Alliance has announced that Stefano Pessina is to step down as chief executive of the business and assume the role of executive chairman once his successor is... View Article
  
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• Selfridges to cut 450 jobs

  28-07-2020 01:00 via theretailbulletin.com
  
  The Selfridges department store chain is to cut 450 jobs as it faces what it describes as the toughest year in its recent history. Operating two stores in... View Article
  
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• Rexel Supplies an Omni-channel Customer Experience

  28-07-2020 01:00 via theretailbulletin.com
  
  Broad information accessibility and an industrialized approach. CHALLENGE “Rexel’s growth, which is based on acquisition, quickly translated into a key issue for our information systems,” says... View Article
  
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• Q&A: Ben Cohen, COO, Airvat

  28-07-2020 01:00 via theretailbulletin.com
  
  A former City executive with a passion for technology, Ben is at the forefront of Airvat’s efforts to revolutionise the tax refund industry. What does your... View Article
  
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• Making the Retail Sector COVID-19 Secure

  28-07-2020 01:00 via theretailbulletin.com
  
  COVID-19 has significantly affected the retail sector, with a 19% collapse in sales in April alone due to non-essential shops closing. As the sector re-opens, there’s... View Article
  
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• Jack Wills to launch kidswear range

  28-07-2020 01:00 via theretailbulletin.com
  
  Jack Wills is to launch its own kidswear range through an international license partnership with Brand Machine Group. Under the license agreement, Brand Machine Group will design, manufacture... View Article
  
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• How to provide digital tax-free shopping?

  28-07-2020 01:00 via theretailbulletin.com
  
  Start attracting more overseas customers to your stores by introducing hustle free VAT refunds. Many retailers have not been taking full advantage of tourists VAT refunds,... View Article
  
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• Greggs upbeat despite £65 million loss

  28-07-2020 01:00 via theretailbulletin.com
  
  Greggs has posted a 49.9% drop in like-for-like sales in the first half of its financial year after trading was impacted by store closures across the... View Article
  
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• Card Factory in-store sales better than expected

  28-07-2020 01:00 via theretailbulletin.com
  
  Card Factory has said in-store sales have exceeded expectations since its stores reopened after lockdown on 15 June. Like-for-like sales have declined by 21.6% compared to an anticipated... View Article
  
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• Boohoo publishes terms of reference for review of supply chain

  28-07-2020 01:00 via theretailbulletin.com
  
  Fast fashion retailer Boohoo has published the terms of reference for the independent review of its Leicester supply chain. The review was announced earlier this month following... View Article
  
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• B&M EBITDA to exceed expectations

  28-07-2020 01:00 via theretailbulletin.com
  
  B&M has said it expects its adjusted to EBITDA to be in the range of £250 million to £270 million in the first half of its financial... View Article
  
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• Amazon begins offering fast grocery deliveries free with Prime

  28-07-2020 01:00 via theretailbulletin.com
  
  Amazon has confirmed that its Prime members will now be able to have their groceries delivered fast and free as part of their membership. Free deliveries... View Article
  
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• Nike diversity chief out after two years in role

  28-07-2020 00:51
  CEO John Donahoe promises ‘more meaningful change’ at sportswear group
  
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