Retail news

• It's easy to see why Barclays' shares fell despite good figures | Nils Pratley

  29-07-2020 20:47
  
  Until the dividend conundrum is solved investors would be wise to avoid the entire sectorHere’s the good news for Barclays shareholders: the bank should be able to handle a downpour of covid-related loan defaults with relative ease. A drenching is inevitable, but this crisis is not a rerun of 2008-09.Capital buffers are high. Provisions for those looming defaults, at £3.7bn in the first half, look a fair current estimate of what’s in store. And the investment bankers and trader
  
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• Next proves one of the great survivors with lockdown sales

  29-07-2020 18:28
  Fashion group battles through crisis; BDO falls foul of FRC; Aston Martin’s new upset
  
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• Redundancies at Waterstones HQ as some stores remain shut

  29-07-2020 17:29 via retailgazette.co.uk
  // Waterstones making HQ job cuts
  // Some stores have remained shut following lockdown
  // The number of redundancies have remained undisclosedWaterstones has reportedly warned that it is making a number of redundancies at its London Piccadilly head office.
  The books and gifting retailer did not specify the exact number of job cuts but said it is currently in consultation with those affected, The Bookseller reported.
  Waterstones has also decided to keep a number of its stores shut following the l
  
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• Canada Goose embarks upon footwear with new appointment

  29-07-2020 16:53 via retailgazette.co.uk
  // Canada Goose hires footwear general manager for first time ever
  // Adam Meek will lead the retailer’s footwear strategyCanada Goose has hired a general manager of footwear and accessories as it attempts to enter the footwear market.
  Adam Meek has been appointed to lead the development of the retailer’s global footwear strategy.
  He has previous experience in working as the sportswear merchandising director at Nike, as well as Lacoste.READ MORE:How will the luxury retail sector reco
  
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• Aldi to take on 1,200 new employees in UK in expansion drive

  29-07-2020 16:27
  
  Supermarket chain plans to open average of one new store a week between now and ChristmasAldi is to hire 1,200 new employees during the rest of this year, in a rare scrap of good news for jobseekers as the coronavirus pandemic forces many UK businesses to shed staff. The supermarket chain, which along with fellow German chain Lidl have been the fastest-growing UK supermarkets in recent years, plans to open an average of one new store a week between now and Christmas. Continue reading...
  
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• UK Consumer Survey Results

  29-07-2020 15:00 via retailgazette.co.uk
  Consumer Survey Results – Win over UK Shoppers
  You want to delight your customers. But where do you start? Listening to them and understanding what makes them tick is the best path to success.
  For instance, 61% of UK shoppers said free delivery was a key factor that would make them return to an online retailer. Find out the other factors that drive consumer loyalty (and much more) in this report which examines survey results from over 2100 British respondents.
  With more online sh
  
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• Spending on Shopify surpasses eBay as Covid-19 sends shoppers online

  29-07-2020 14:52
  Revenues at Canadian ecommerce company rise 97%, far surpassing Wall St estimates
  
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• Outlook brightens at Next as decline in sales eases sharply

  29-07-2020 14:29
  Fashion retailer says trading ‘much better than expected’ and it anticipates making a profit this year
  
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• Retail sales return to meagre growth

  29-07-2020 14:22 via retailgazette.co.uk
  // Retail sales were up by only 4% after shops reopened, the CBI says
  // Grocery, hardware and DIY sales were up, but fashion and department stores continued to feel the pinchRetail sales returned to anaemic growth in the year to July as shoppers made their way back into shops, but there is still a long way to go before normality returns, new figures show.
  Sales were up by four per cent, according to a closely-watched survey from the Confederation of British Industry (CBI).
  It came mainly as gro
  
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• Primark rolls out clothing recycling scheme across UK stores

  29-07-2020 13:47 via retailgazette.co.uk
  // Primark announces the rollout this week of clothing recycling programme via the Primark In-Store Recycling Scheme
  // Calls for customers’ pre-loved clothes, footwear & bags from any brand to be deposited in in-store collection boxes
  // All donated items will be reused, recycled or repurposed, with nothing going to landfillPrimark customers can now recycle any brand of pre-loved clothes, textiles, footwear and bags at any of the retailer’s 190 stores across the UK as part of a
  
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• Mike Ashley’s Game sells its Belong esports gaming arenas to Vindex in a deal worth $50m

  29-07-2020 13:21 via chargedretail.co.uk
  
  Game Digital is set to sell its Belong Gaming Arenas to US start-up Vindex in a deal thought to be worth $50 million.
  Belong Gaming Arenas’ brand and intellectual property will now be owned by Vindex, but Game will continue to own and operate the arenas with an exclusive licence.
  Game, which was purchased by Sports Direct and House of Fraser mogul Mike Ashley last year for £52 million, will also see its chief executive Martyn Gibbs join Vindex’s management team as head of Belon
  
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• Puma unable to forecast 2020 as Covid-19 hits profitability

  29-07-2020 13:02 via retailgazette.co.uk
  // Puma has yet to provide a financial outlook for 2020 due to the unpredictable development of Covid-19
  // The sportswear retailer focused on ensuring financing and liquidity to survive the crisisPuma has said uncertainty around the coronavirus pandemic made forecasts for the full-year impossible following a hit in second quarter sales and profitability.
  Second-quarter sales fell a currency-adjusted 30.7 per cent to €831 million (£754.34 million) and earnings before interest and taxe
  
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• Puma left unable to forecast 2020 as Covid19 hits profitability

  29-07-2020 13:02 via retailgazette.co.uk
  // Puma has yet to provide a financial outlook for 2020 due to the unpredictable development of Covid19
  // The sportswear company focused on ensuring financing and liquidity to survive the crisisGerman sportswear brand Puma reported on Wednesday that uncertainty around the coronavirus pandemic made forecasts for the full-year impossible following a hit in second quarter sales and profitability.
  Second-quarter sales fell a currency-adjusted 30.7 per cent to €831 million (£754.34 millio
  
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• How social media can help retail in the post-virus era

  29-07-2020 12:54 via retailgazette.co.uk
  2020 has been quite a year—and most retailers are feeling the scars. According to Forrester, UK retailers will see a £56 billion loss in 2020, a decline of 11.4 per cent from 2019.
  Analysts expect the third and fourth quarters to see a slight increase in spending. However, Covid-19 is going nowhere fast, and consequently, nearly half of consumers do not expect to resume shopping in brick-and-mortar shops for some time. The UK unemployment rate is expected to more than double to nine
  
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• Sales plunge at Gucci owner Kering amid Covid19

  29-07-2020 11:59 via retailgazette.co.uk
  // Sales at Kering plunge almost 44% in the second quarter due to the Covid19 pandemic
  // Operating margins at the group fell to 17.7%The luxury group Kering announced that sales had plunged by 43.7 per cent in the second quarter due to the coronavirus pandemic, adding it could not provide a forecast for the second half of the year despite an encouraging recovery in Asia.
  The Gucci owner’s revenue was better than analyst expectations, with those at UBS citing estimates for a 46 per cent fa
  
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• The Hut Group hires 7 banks to handle potential £4.5bn IPO

  29-07-2020 11:48 via retailgazette.co.uk
  // The Hut Group picks 7 banks to steer potential £4.5bn float
  // The retailer hired Citi, JP Morgan, Barclays, Goldman Sachs, HSBC, Jefferies and Numis to help with its IPO bidThe Hut Group (THG) has reportedly chosen seven banks to work on a potential £4.5 billion flotation.
  The online consumer goods retailer, which owns brands such as Glossybox and Myprotein, has hired Citi, JP Morgan, Barclays, Goldman Sachs, HSBC, Jefferies and Numis to help with its IPO bid.
  The seven banks hav
  
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• Aldi to create 4000 new jobs this year

  29-07-2020 11:17 via retailgazette.co.uk
  // Aldi says it will create nearly 4000 new jobs in the UK by the end of the year
  // It will be achieved through the opening of 1 new store per week, on average
  // It has so far hired 2800 new staff and there are plans to hire an additional 1200 between now & ChristmasAldi is set to create nearly 4000 new jobs across the UK this year as it pushes ahead with plans to open an average of one new store a week between now and Christmas.
  The German discount grocer, which currently has more than 89
  
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• 7 Global E-Commerce Growth Challenges

  29-07-2020 11:02 via retailgazette.co.uk
  Global e-commerce is continuing to grow with no sign of slowing. It is projected that it will grow into a £5.15 trillion industry in just a few years.
  What does it take for an e-commerce business to survive on a global scale?
  Melissa have examined that many challenges e-retailers can face is boiled down to bad address data. Take a look on how valid address data are the foundation for functioning supply chain, cost minimisation, and fraud prevention in a global landscape.
  Explore
  
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• Michelin-quality food, Aldi prices – how to make the most of the summer of surplus

  29-07-2020 11:00
  
  From artisan cheeses to king scallops, lockdown has left high-quality British produce looking for a home. Here’s what to do with itCoronavirus was an earthquake for British food and drink producers. With restaurants, pubs and office canteens shut, exports disrupted and Britons hoarding for lockdown, mismatches in supply chains were created, along with temporary shortages and huge gluts of surplus produce. All this meant farmers, fishermen and processors needed to find new retail opportunit
  
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• Next expects to remain in profit as sales partially recover

  29-07-2020 10:48
  
  Retailer’s 28% decline is much better than best-case scenario at height of coronavirus crisisCoronavirus – latest updatesSee all our coronavirus coverageNext has said it now expects to remain in profit this year after reporting a 28% sales decline in the second quarter, much better than the fashion and homewares retailer’s best projection at the height of the coronavirus crisis in April.The business has upgraded its annual profit guidance to an expected £195m this year an
  
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• Hotter to shutter 46 stores as creditors approve CVA

  29-07-2020 10:40 via retailgazette.co.uk
  // Hotter creditors approve of CVA, resulting in “number” of redundancies
  // At least 350 jobs will be saved
  // Hotter’s refocus on its ecommerce strategy was driven by the Covid-19 pandemicHotter creditors have approved of the footwear retailer’s CVA proposals, which will see it permanently shut 46 stores across the UK.
  The retailer aims to reduce its store portfolio and change the terms of rental payments.
  While a “number” of redundancies will take place, th
  
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• Ocado begins accepting new customers for the first time in 4 months

  29-07-2020 10:28 via chargedretail.co.uk
  
  Ocado has begun slowly accepting new customers again for the first time since March when it was forced to prevent anyone new signing up.
  The online grocer announced on March 14, a week before lockdown was officially announced in the UK, that a sudden influx of demand had forced it to turn away any new customers in order to be able to maintain service to its existing ones.
  For the first time in four months Ocado has now begun slowly welcoming new customers back to its platform.
  Customers who trie
  
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• Next store sales plummet 72% as it struggles to return to normal

  29-07-2020 09:57 via retailgazette.co.uk
  // Next full-price sales drop 28% in second quarter
  // Online sales drop 9%
  // In-store sales drop 72% since reopening stores in JuneNext has recorded a 28 per cent slump in full price sales in the second quarter, as it experiences tough trading since reopening stores.
  The fashion retailer posted a nine per cent rise in online sales year-on-year in the second quarter to July 25, while in-store sales plummeted by 72 per cent during the period.
  The full-price sales drop was “much better than
  
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• Next sales plummet 72% as it struggles to return to normal

  29-07-2020 09:57 via retailgazette.co.uk
  // Next full-price sales drop 28% in second quarter
  // Online sales drop 9%
  // In-store sales drop 72% since reopening stores in JuneNext has recorded a 28 per cent slump in full price sales in the second quarter, as it experiences tough trading since reopening stores.
  The fashion retailer posted a nine per cent rise in online sales year-on-year in the second quarter to July 25, while in-store sales plummeted by 72 per cent during the period.
  The full-price sales drop was “much better than
  
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• Majestic Wine unveils growth strategy after 300% online sales surge

  29-07-2020 09:43 via retailgazette.co.uk
  // Majestic Wine to open new stores under new plans for post-lockdown growth
  // 150,000 new customers gained during lockdown, alongside unprecedented online growth of over 300%
  // UK wine market share grows to 5.3% vs 4.5%Majestic Wine has revealed a new growth strategy, which includes plans to open new stores, after recording bumper sales and increased market share during lockdown.
  Despite closing its shop doors to walk-in customers during government-mandated lockdown, Majestic Wine said it saw
  
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• John Lewis Partnership hires Nikki Humphrey as new people exec director

  29-07-2020 09:18 via retailgazette.co.uk
  // John Lewis Partnership poaches Virgin Atlantic’s Nikki Humphrey for people exec director role
  // At the airline, she is is chief people officer
  // She will develop & deliver a people strategy for John Lewis Partnership’s 80,000 staffJohn Lewis Partnership has raided the senior ranks of Virgin Atlantic to poach Nikki Humphrey for the role of people executive director.
  Humphrey, who is currently chief people officer at the airline, will replace Tracey Killen who has retired afte
  
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• Next outlook brightens as decline in sales eases sharply

  29-07-2020 09:09
  Fashion retailer says trading has been ‘much better than expected’ as stores reopen
  
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• Shop price deflation slows in July

  29-07-2020 08:56 via retailgazette.co.uk
  // Shop prices slid 1.3%in July, as non-food products dropped in value
  // This represented a slowdown in deflation from June, when prices fell by 1.6%
  // Non-food prices fell by 2.9% in July, while food inflation remained steady at 1.5%Shop prices fell again in July as high street stores continue to try and tempt people back through their doors post-lockdown, according to new figures.
  The latest BRC-Nielsen Shop Price Index revealed that shop prices slid 1.3 per cent in July, as non-food product
  
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• Percy Pig packaging 'wilfully misleading', says obesity campaign

  29-07-2020 07:00
  
  National Food Strategy report accuses Marks & Spencer of ‘false virtue’ in display of ingredients of its sweetsHe’s pink, he’s sweet, he’s cute, he’s all natural and he’s within reach of your child’s stumpy little fingers. Percy Pig is a hugely successful brand of sweets, sold by Marks & Spencer.He turned vegetarian last year and underwent a cut in sugar. But like so many other brands of sweets, say obesity campaigners, the hype hides the t
  
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• Retailers and landlords do battle over the future of leases

  29-07-2020 06:00
  The coronavirus crisis has put immense pressure on property companies to link a tenant’s rent to their turnover
  
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• eBay pins hopes on back-to-roots strategy

  29-07-2020 05:59
  Marketplace focus lifts revenues but concerns remain over sustainability of pandemic gains
  
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• Back-to-roots strategy pays off for eBay

  29-07-2020 05:59
  Marketplace focus lifts revenues but concerns remain over sustainability of pandemic gains
  
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• Tech giants invoke American dream to defend their power

  29-07-2020 04:06
  Chief executives bat away antitrust concerns ahead of grilling in Congress
  
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• Facebook and Amazon invoke American dream defending their power

  29-07-2020 01:43
  Chief executives bat away antitrust concerns ahead of grilling in Congress
  
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• Waitrose and John Lewis to switch to electric vehicles as online business grows

  29-07-2020 01:00 via theretailbulletin.com
  
  Waitrose and John Lewis are to increase their use of electric vans as part of plans to end their use of fossil fuels across their transport fleets by... View Article
  
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• Victoria Beckham Beauty launches flagship store on Tmall

  29-07-2020 01:00 via theretailbulletin.com
  
  Victoria Beckham Beauty is launching a flagship store on Alibaba’s Tmall. The store will provide Chinese consumers with exclusive access to special product launches and the... View Article
  
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• Shop prices continue to fall in July

  29-07-2020 01:00 via theretailbulletin.com
  
  New figures have shown that shop prices have continued to fall in July, although at a slower pace than last month. The data from the British Retail Consortium... View Article
  
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• Q&A: Trevor Gordon, Global Director of Omni-Channel Retail, Sodexo

  29-07-2020 01:00 via theretailbulletin.com
  
  An expert at our Digital Retail Transformation Webinar on September 9-10, Trevor Gordon is currently Global Director of Omni-Channel Retail at Sodexo (Sodexo is a Global Services... View Article
  
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• Pets At Home commits to next gen customer engagement with Aptos ONE and the cloud

  29-07-2020 01:00 via theretailbulletin.com
  
  The UK’s leading pet care business embarks on a retail technology modernisation journey with Aptos. Aptos, a recognised market leader in retail technology solutions, today announced... View Article
  
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• Next full price sales better than expected

  29-07-2020 01:00 via theretailbulletin.com
  
  Next saw its full price sales come in better that expected in its second quarter with a drop of 28% on last year. The fashion and homewares retailer... View Article
  
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• John Lewis Partnership appoints new executive director for people

  29-07-2020 01:00 via theretailbulletin.com
  
  The John Lewis Partnership has hired Nikki Humphrey as its executive director for people. She will succeed Tracey Killen who has retired after a 38 year career with the partnership.... View Article
  
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• CML rebrands as Rhenus Warehousing Solutions Lutterworth

  29-07-2020 01:00 via theretailbulletin.com
  
  On Friday, 31July 2020, Core Management Logistics (CML) is completing its rebranding process after the acquisition by the Rhenus Group in January 2019. During the initial... View Article
  
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• Canada Goose accelerates expansion into footwear with new hire

  29-07-2020 01:00 via theretailbulletin.com
  
  Canada Goose has appointed Adam Meek to the new role of general manager of footwear and accessories. Meek will lead the ongoing development and execution of the company’s global... View Article
  
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• Aldi to create nearly 4,000 jobs in 2020

  29-07-2020 01:00 via theretailbulletin.com
  
  Aldi has said it will have created nearly 4,000 UK jobs this year as it looks to open an average of one new store a week between now and... View Article
  
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