Retail news

• We fixate on the decline of the high street, but the real issue is Amazon | John Harris

  02-08-2020 16:31
  
  Politicians talk about saving traditional shops, yet they should focus efforts on challenging the vast power of the tech giant What will happen to the high street now? After long years of decline prior to the pandemic, the sense of inevitable disaster is becoming overwhelming. Pick your place, and the headlines will tell you most of the story: “Further blow for East Kilbride as Marks & Spencer confirm closure of flagship store,” reports the Scottish Daily Record, adding that the
  
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• 850 jobs to be axed at Victoria’s Secret HQ

  02-08-2020 16:10 via retailgazette.co.uk
  // Victoria’s Secret to cut 850 jobs at HQ
  // Owner L Brands aims to accumulate £304 million in annual savings from the job cutsVictoria’s Secret parent company L Brands has announced it will cut 15 per cent of its head office workforce in an effort to reduce overhead costs.
  The retail group will lay off 850 employees at its Columbus, Ohio headquarters.
  L Brands aims to accumulate $400 million (£304 million) in annual savings from the redundancies, $175 million
  
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• JD Sports faces second shareholder revolt over executive pay

  02-08-2020 15:22 via retailgazette.co.uk
  // JD Sports faces backlash from shareholders at AGM
  // A third of its shareholders voted against its remuneration reportJD Sports has reportedly faced backlash from its shareholders at its AGM over the salaries and bonuses of its executives.
  The sportswear retailer saw a third of its shareholders vote against its remuneration report.
  Meanwhile, 30 per cent of shareholders pushed back on performance-related bonuses, The Telegraph reported.READ MORE:JD Sports tests workers after Covid-19 cases id
  
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• Hammerson to raise £600m to survive Covid-19

  02-08-2020 14:53 via retailgazette.co.uk
  // Hammerson to seek £600m from shareholders to survive Covid-19 crisis
  // The property owner is in talks to sell its 50% stake in VIA OutletsHammerson is reportedly preparing to ask shareholders for £600 million in an effort to survive the coronavirus pandemic.
  The shopping centre giant, which owns Birmingham’s Bullring centre, is in talks to sell its 50 per cent stake in VIA Outlets, a portfolio of European shopping destinations.
  Hammerson is currently making plans for a righ
  
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• Mark Cuban: 'The only constant of business is change' | Gene Marks

  02-08-2020 12:00
  
  On a recent podcast, the billionaire entrepreneur shared his business widsom with me. Here are some highlightsUnlike some of his Shark Tank colleagues, Mark Cuban is not out shilling corporate products, accepting sponsorship dollars or collecting appearance and speaking fees. Instead, when he’s not running an NBA team or overseeing a myriad of other investments, Cuban has been making a point of getting himself publicly involved in issues that affect small businesses around the US. Related:
  
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• Q&A: Darren Williams, Interim CEO of SCRUBD.

  02-08-2020 01:00 via theretailbulletin.com
  
  An expert at our Digital Retail Transformation Webinar on September 9-10, Darren Williams is currently Interim CEO of SCRUBD and MD at Williams Harding Consulting. Having formally... View Article
  
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