Retail news

• Advent to buy UK parcel delivery group Hermes in €1bn deal

  10-08-2020 20:00
  Private equity firm seeks to benefit from shift to online shopping since lockdown
  
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• Extent of Britain’s high street decline laid bare in official data

  10-08-2020 19:23
  
  Covid crisis has continued trend of retail job losses across most regions, ONS figures showThe problems facing high streets up and down Britain are laid bare by analysis of official data showing the struggles that retailers were already facing before the Covid pandemic hit.In the three years to 2018, retail employment had declined across all regions, except in the north-west of England, according to the report for the Office for National Statistics. Continue reading...
  
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• Frasers Group boss Mike Ashley eyes 30 Debenhams stores

  10-08-2020 17:48 via retailgazette.co.uk
  // Mike Ashley eyes 30 Debenhams stores
  // Ashley is expected to make a public statement this weekFrasers Group owner Mike Ashley is reportedly looking to seize as many as 30 stores from rival retailer Debenhams.
  The billionaire tycoon has discussed with senior staff and is likely to reveal a public statement as soon as this week, Mail Online reported.
  Ashley is the majority owner of Frasers Group, which also owns sportswear giant Sports Direct and House of Fraser.READ MORE:Frasers Group mi
  
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• New Look prepares to launch CVA

  10-08-2020 16:57 via retailgazette.co.uk
  // New Look plans to launch CVA as part of restructuring
  // The retailer will ask landlords at more than 450 stores to accept new lease contracts
  // It has over 10,000 staff in the UKNew Look is reportedly preparing to launch a second CVA as as part of a major restructuring.
  The fashion retailer is expected to appoint advisers from Deloitte this week to oversee the insolvency process, Mail on Sunday reported.
  New Look, which has more than 10,000 staff, will ask landlords at more than 450 st
  
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• Market Snapshot: Sweden

  10-08-2020 16:10 via retailgazette.co.uk
  Some of the largest retail companies in the world are headquartered in Sweden. When consumers think of Swedish retail, one major brand that comes to mind is furniture and homewares giant Ikea. Others may think of H&M Group, the second-biggest fashion retail empire in the world.
  However, the Scandinavian country offers much more. Its economy maintained a stable recovery in 2019, according to Euromonitor, and with its population continuing to grow – the nation is fuelling comp
  
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• FTSE retailers issue more than a years’ worth of profit warnings in 1st half

  10-08-2020 15:18 via retailgazette.co.uk
  // FTSE-listed retailers issued a further nine profit warnings in Q2, taking the first half total to 47
  // This means the total number of profit warnings far exceeds the whole of 2019, when 32 were recordedFTSE-listed retailers issued 47 profit warnings in the first half of 2020, far exceeding the total number recorded for the whole of 2019, according to a new report.
  In the first quarter 38 profit warnings from FTSE retailers were recorded followed by a further nine in the second quarter, accor
  
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• Nervous return to the high streets in July

  10-08-2020 14:47 via retailgazette.co.uk
  // Weekly footfall figures in July up by 12.7% on June but yearly figures down by 53%
  // Compulsory face coverings did not deter or encourage shoppers, says Ipsos Retail Performance
  // First week of mandatory face coverings dipped weekly footfall levels by 2.8% on w/c July 19The latest footfall figures for non-food stores has shown that shoppers’ return to the high street continues to be “palpable but ponderous”.
  According to data released by Ipsos Retail Performance, July
  
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• Eat out to help out scheme increases UK high street footfall

  10-08-2020 14:05
  
  Evening visitor numbers up in particular as people go out more after Covid-19 lockdownCoronavirus – latest updatesSee all our coronavirus coverageThe UK government’s eat out to help out scheme triggered a surge in the number of people visiting high streets and shopping malls last week, especially during the evenings.Between Monday and Wednesday – the first days of the half-price meal offer – footfall rose 18.9% after 6pm across the UK’s high streets, shopping centre
  
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• Waitrose says its “flattered” that M&S’ Ocado range is “near-identical” to its own

  10-08-2020 12:30 via chargedretail.co.uk
  
  Waitrose said it was “flattered” that Marks & Spencer’s range of food on Ocado was “near-identical” to its own range.
  M&S products have now replaced Waitrose range on Ocado’s website as the pair prepare for the launch of their joint venture on September 1.
  More than 4600 M&S products appeared on Ocado’s website last week for the first time, and customers can begin adding them to their baskets for delivery next month.
  In a statement, M&S s
  
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• Coronavirus: 1 in 3 UK businesses to make job cuts by October

  10-08-2020 11:36 via retailgazette.co.uk
  // 1 in 3 UK businesses are expected to make job cuts by October
  // 33% of 2000 businesses surveyed said they expect to make redundanciesNew research has found that one in three businesses across the UK expect to make job cuts by October as the Covid-19 crisis takes a toll on the economy.
  At least 33 per cent of 2000 businesses surveyed said they expected to make redundancies in the third quarter of this year, according to figures from the Chartered Institute of Personnel and Development (C
  
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• Amazon to buy up JC Penney and Sears department stores and convert them to fulfillment centres

  10-08-2020 11:15 via chargedretail.co.uk
  
  Amazon is reportedly in talks to buy up shuttered JC Penney and Sears department stores across the US and convert them into fulfilment centres.
  Simon Property Group, one of the US’ largest mall operators, is in talks with the ecommerce giant regarding the sale of what was once prime retail space, according to The Wallstreet Journal.
  While the number of stores under negotiation is unclear, the pair are understood to have been working on a deal for months and began talks before the pand
  
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• Intu footfall edges up as 85% tenants open doors

  10-08-2020 10:59 via retailgazette.co.uk
  // Intu footfall rises across its 13 shopping centres
  // At least 85 per cent of the retailers at its centres are now openIntu has witnessed a rise in footfall across its 13 centres in the UK, since non-essential retail stores began reopening on June 15.
  Average footfall rose by seven per cent between July 24 and 31, compared with the previous week.
  At least 85 per cent of the retailers at its centres are now open, including 68 per cent of food and beverage and leisure brands.READ MORE:61 job cu
  
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• Zara founder’s property arm accused of “bullying” retailers for rent

  10-08-2020 10:09 via retailgazette.co.uk
  // Zara founder Amancio Ortega’s investment vehicle, Pontegadea accused of using bullying tactics
  // Pontegadea has reportedly been demanding some of the toughest terms on its leases, according to other retailersThe founder of fashion giant Zara, Amancio Ortega’s property arm has reportedly been accused of “bullying” by other retailers as the pandemic heightens tensions between tenants and landlords.
  The billionaire’s investment vehicle, Pontegadea, was criticised f
  
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• Superdry agrees £70m extra funding to help it through crisis

  10-08-2020 09:50
  First-quarter trading comes in better than expected despite coronavirus disruption
  
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• Labour warns on high street “ghost towns” in local lockdown areas

  10-08-2020 09:38 via retailgazette.co.uk
  // Labour warns that high streets could turn into “ghost towns” in areas with new local lockdowns
  // Labour said there was a £170m underspend in the government’s Covid-19 grants for businesses in areas with local restrictions
  // It estimated that this funding could support an additional 15,000 businesses in affected areasLabour is calling for more support for workers and retailers in areas with local restrictions in a bid to safeguard hundreds of thousands of jobs.
  The pa
  
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• Superdry secures £70m financial deal as coronavirus sends sales plunging

  10-08-2020 09:26 via retailgazette.co.uk
  // Superdry secures £70m financing deal to ride out coronavirus crisis
  // In the quarter ending July 25, sales did not decline as much as feared – total sales down 24.1%
  // Store sales down 58.1%, like-for-likes down 32.3% but online sales surged 93.2%Superdry has welcomed a new £70 million financing deal with its banks to help it through the coronvirus crisis as it revealed that stores sales continue to tumble.
  The fashion retailer said its performance in the three months to J
  
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• Retailers & landlords team up for talks with MPs on rent bills

  10-08-2020 09:11 via retailgazette.co.uk
  // Retailers & landlords team up to hold talks with MPs to see if government could fund 50% of commercial rent
  // The “Property Bounce Back” grants, they would be targeted at businesses worst affected by coronavirus lockdownRetailers and landlords have reportedly teamed up to hold talks with MPs about proposals for the government to fund up to half of commercial rent to help ride out the pandemic.
  According to The Telegraph, trade bodies have been in talks with ministers about pr
  
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• The $21bn petrol station gamble: 7-Eleven owner strengthens US grip with Speedway deal

  10-08-2020 05:00
  Japanese convenience store group makes bold move in world of falling fuel demand
  
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• Asia’s garment workers lose out on $6bn after pandemic cuts

  10-08-2020 05:00
  Brands from Gap to Topshop have halted orders or withheld payments, leading suppliers to cut or stop pay
  
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• A $21bn petrol station gamble: 7-Eleven owner strengthens US grip

  10-08-2020 05:00
  Japanese convenience store group makes bold move in world of falling fuel demand
  
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• The Future of Retail: Data-centric Digital Commerce Infographic

  10-08-2020 01:00 via theretailbulletin.com
  
  The future of retail is here. It puts the customer in the middle of all decisions based on data-driven insights. Retailers today cannot wait to optimize... View Article
  
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• Superdry secures £70m in extra funding

  10-08-2020 01:00 via theretailbulletin.com
  
  Superdry has agreed a £70 million extra funding deal with its banks to help it through the coronavirus crisis. The new asset backed lending facility provided by HSBC and... View Article
  
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• Superdrug launches new initiative to combat in-store aggression and violence

  10-08-2020 01:00 via theretailbulletin.com
  
  Superdrug has pledged to combat in-store aggression and violence towards its staff with an extension of its Be Kind initiative. The retailer originally launched the scheme to address... View Article
  
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• Q&A: Gabriel Hughes, CEO and founder of Metageni

  10-08-2020 01:00 via theretailbulletin.com
  
  Gabriel is the CEO and founder of Metageni, designing algorithms for customer journey optimisation and data-driven decision making. With over 20 years experience in quantitative analytics... View Article
  
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• Footfall improving at Intu shopping centres

  10-08-2020 01:00 via theretailbulletin.com
  
  Intu has reported a gradual improvement in footfall in its UK shopping centres since non-essential retail stores began reopening on 15 June. In addition, the owner of Intu Trafford and Intu Merry... View Article
  
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• Flexing the stockroom for a ‘new’ future

  10-08-2020 01:00 via theretailbulletin.com
  
  Guest Post: By Louisa Hosegood, Digital and Strategy Director at Bis Henderson Consulting. Even before Coronavirus, bricks and mortar retailers were facing an existential crisis. Soaring... View Article
  
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• Co-op serves-up four petrol filling stations with improved convenience stores

  10-08-2020 01:00 via theretailbulletin.com
  
  The Co-op has opened two new and two refitted petrol filling stations following a multi-million pound investment. The retailer has undertaken an extensive programme of works after acquiring a former... View Article
  
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• Baird Group launches proposals for CVA

  10-08-2020 01:00 via theretailbulletin.com
  
  Baird Group, the licence holder of Ben Sherman and Suits Direct, has launched company voluntary arrangement proposals under which 18 stores will close if the plans are approved.... View Article
  
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