Retail news

• Mike Ashley's Frasers Group delays results for second year running

  11-08-2020 21:00
  
  Company formerly called Sports Direct says it needs more time to complete this year’s accounts following chaotic announcement in 2019Mike Ashley’s Frasers Group has delayed its annual results presentation for the second year running saying it needs more time to complete its accounts.Frasers, which was due to release its full-year figures on Thursday 13 August, said the results would now be published on 20 August as disclosures relating to new accounting rules were “completed an
  
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• 68% retailers fail to stop under-18s buying knives, research shows

  11-08-2020 18:39 via retailgazette.co.uk
  // Most independent retailers have failed to stop under-18s from buying knives
  // 68% of retailers that could not stop the purchases were independent storesNew research has found that independent retailers have failed to stop under-18 year olds from purchasing knives.
  As shopkeepers fear challenging people, 68 per cent of retailers that could not stop the purchases were independent stores, according to research from National Trading Standards (NTS).
  This was an increased proportion from 51 per c
  
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• What the shift of small retailers to online means for the sector

  11-08-2020 17:10 via retailgazette.co.uk
  It’s no secret by now that online retail experienced a huge surge in growth during the recent nationwide lockdown – but little is said about the 85,000-plus businesses that were forced to launch an online shop in the last four months.
  Many of these businesses established their online stores with the likes of online marketplaces like eBay, Amazon, Trouva or even Facebook’s marketplace as their way of expanding into ecommerce. Marking one of the biggest shifts to online in the h
  
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• Government loans for small retailers & businesses tops £35bn

  11-08-2020 16:11 via retailgazette.co.uk
  // Treasury approves 1.15 million applications to use the Bounce Back Loan Scheme totalling in £34.96bn worth of claims
  // BBLS offers loans that are 100% covered by the state, valued at up to £50,000, to small retailers and businessesThe government-backed loans introduced to support small retailers and other small businesses amid the Covid-19 pandemic have reportedly topped £35 billion.
  The Treasury revealed that 1.15 million applications to use the Bounce Back Loan Scheme tot
  
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• More support urged for businesses hit by local lockdowns

  11-08-2020 15:30 via retailgazette.co.uk
  // Calls for more support for retailers and other businesses affected by local lockdowns
  // Labour’s Anneliese Dodds spoke to business owners from east Lancashire, which has seen restrictions re-imposedExtra support is needed in areas of the country affected by additional lockdown restrictions, business leaders from Lancashire have told the shadow chancellor.
  Labour’s Anneliese Dodds held a Zoom meeting on Tuesday with shop and business owners and workers from east Lancashire, where
  
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• US online shopping forecast to beat 2019 total by October

  11-08-2020 15:01
  Consumers on track to spend more than previous year even with major sales events still to come
  
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• Debenhams to cut another 2,500 jobs

  11-08-2020 14:43
  Toll of high street redundancies mounts as struggling department store tries to ensure ‘viable future’
  
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• Pornhub is giving free ad space to small retailers struggling during the pandemic

  11-08-2020 14:34 via chargedretail.co.uk
  
  Pornhub is offering small retailers free advertising on its platform so they can “gain the exposure they deserve during the pandemic”.
  Its ‘Big Package for Small Businesses’ is offering 100 small businesses what would usually be premium and expensive ad space for free.Businesses with less than 100 employees can sign up to be considered for the programme, before a group of internal representatives from Pornhub’s marketing advertising and sales teams select the winner
  
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• Tim Cook joins the billionaire club as Apple nears $2tn valuation

  11-08-2020 13:37
  
  Apple has thrived under Cook’s leadership with the iPhone X and a move into subscription TVApple chief executive Tim Cook has joined the billionaire club as the iPhone maker is poised to become the US’s first$2tn company.Apple’s performance has so far proved to be coronavirus-proof, crushing Wall Street expectations in each of the last two quarters, and pushing the company’s market value to new peaks just below $2tn. Continue reading...
  
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• Debenhams cuts 2500 jobs in latest redundancy round

  11-08-2020 13:33 via retailgazette.co.uk
  // Debenhams reveals plans to make 2500 job cuts
  // It will affect sales manager, visual merchandise manager & selling support manager positions
  // Debenhams says it needs to ensure store costs are “aligned” with a volatile trading climateDebenhams has confirmed plans to make 2500 redundancies as part of its latest cost-cutting drive to survive the coronavirus crisis.
  The department store chain said it was looking to make staff who hold sales manager, visual merchandise manager a
  
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• Debenhams ready to cut 2,500 jobs in new blow to high street

  11-08-2020 13:03
  
  Beleaguered retailer says trading remains slow after reopening 124 storesDebenhams is to cut a further 2,500 jobs in its department stores in the latest blow to hit the high street.The beleaguered retailer is reducing the number of shop assistants in its stores as trading remains slow despite the reopening of 124 of its stores after lockdown.M&Co – 400 jobs
  5 August: M&Co., the Renfrewshire-based clothing retailer, formerly known as Mackays, will close 47 of 215 stores. Continue re
  
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• US’ “second wave” has pushed retail recovery back until at least 2021

  11-08-2020 12:21 via chargedretail.co.uk
  
  America’s ‘second wave’ could have pushed its retail recovery back until 2021 as in-store footfall dives across the country’s worst hit states.
  In June analysts at data company Zenreach forecaster that footfall for retail, restaurants, bars, spas, events and venues would return to “normal traffic patterns” again by September 9 this year.
  Zenreach’s June recovery forecastHowever, the US has seen a dramatic spike in cases since June and as of last week wa
  
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• Zalando records over 34 million users as revenue smashes £3bn

  11-08-2020 11:48 via retailgazette.co.uk
  // Zalando revenue rises 19.6% to £3.15bn
  // It recorded over 34 million active customers across EuropeZalando has recorded over 34 million active customers across Europe during the first half of 2020.
  The online retailer has expanded its customer base by 20.4 per cent during the period as the company’s gross merchandise volume climbed by 25.1 per cent to €4.72 billion (£4.18 billion).
  Meanwhile, revenue increased by 19.6 per cent to €3.56 billion (£3.15 billion
  
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• Job cuts at Frasers Group head office as part of restructure

  11-08-2020 10:34 via retailgazette.co.uk
  // Mike Ashley’s Frasers Group is shifting away from buying, merchandising & design terminologies
  // The restructure will cause 20 redundanciesFrasers Group is reportedly restructuring its buying, merchandising and design teams, which will result in around 20 redundancies.
  The group said it is scrapping the buying, merchandising and design terminologies in an effort to shift towards “a new commercial division”.
  There are currently 186 roles across the Frasers Group buying,
  
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• London’s West End warns business rates will push retailers to quit area

  11-08-2020 10:05 via retailgazette.co.uk
  // New West End Company has called for business rates holiday extension
  // CEO Jace Tyrrell said this is crucial to stopping hundreds of retailers quitting the West EndThe lobby group which represents London‘s West End retail precinct has called for the existing business rates holiday to be extended beyond next April or a reduction of rates by at least half.
  The New West End Company (NWEC) said this was crucial to stopping hundreds of retailers quitting the West End in September.
  Chief exe
  
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• Select plans 3rd CVA in as many years

  11-08-2020 09:45 via retailgazette.co.uk
  // Select reportedly looking to launch yet another CVA
  // It would be its 3rd CVA since 2018
  // Select is expected to submit the CVA proposals for a vote this monthSelect is reportedly planning the launch of a third CVA in as many years to slash rent amid the coronavirus pandemic.
  According to The Telegraph, the fashion retailer is working with advisors from Howard Kennedy to secure rent cuts, after it reportedly failed to pay rent since Covid-19 struck.
  If the CVA eventuates, it would be t
  
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• Retail sales edge up in first full month since lockdown measures eased

  11-08-2020 09:24 via retailgazette.co.uk
  // July retail sales up 3.2%, according to the latest Retail Sales Monitor
  // This compares to 3.4% growth in June and 0.5% in July last year
  // Overall non-food sales grew 7.9% while food sales increased 8.2%Retail sales across the UK grew experienced a second consecutive month of growth in July, but shops are still trying to make up lost ground as the coronavirus pandemic shows no sign of ending any time soon.
  According to the latest Retail Sales Monitor from BRC and KPMG, sales incr
  
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• UK retail sales remain robust in July

  11-08-2020 01:01
  More people return to buying in shops but purchases are still focused on life at home
  
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• UK consumer spending approaches levels last seen before coronavirus

  11-08-2020 01:01
  
  Sunny weather and reopening of shops boost sales, but GDP figure expected to confirm recessionCoronavirus – latest updatesSee all our coronavirus coverageSunny weather and the reopening of non-essential shops across most of the UK has fuelled an increase in consumer spending close to pre-pandemic levels, according to retail industry figures.The deepest recession in a century is expected to be confirmed on Wednesday, but figures from the British Retail Consortium (BRC) and accountancy firm
  
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• Zalando hails strong first half performance

  11-08-2020 01:00 via theretailbulletin.com
  
  Online fashion retailer Zalando has expanded its customer base by 20.4%  in the first half of 2020 and now has more than 34 million active customers... View Article
  
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• Retail sales increase in July

  11-08-2020 01:00 via theretailbulletin.com
  
  New figures have shown that retail sales increased by 3.2% on a total basis in July to mark the second consecutive month of growth since the... View Article
  
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• Marketing insight: interview with Emily Laws of Lucky Saint

  11-08-2020 01:00 via theretailbulletin.com
  
  Following her participation in Retail’s Bulletin’s Retail Customer Marketing Webinar last month, here we interview Emily Laws, Senior Marketing Manager at Lucky Saint, the 0.5% superior unfiltered... View Article
  
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• MAC Cosmetics opens flagship store at Liverpool ONE

  11-08-2020 01:00 via theretailbulletin.com
  
  Beauty brand MAC Cosmetics has opened a new flagship store at the Liverpool ONE shopping destination. The 2,654 square foot shop on Paradise Street uses ‘virtual try-on’ technology to... View Article
  
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• Debenhams to cut 2,500 jobs

  11-08-2020 01:00 via theretailbulletin.com
  
  The Debenhams department store chain is to cut 2,500 jobs within its store and distribution operations as it looks to reduce costs amid the coronavirus pandemic. The news follows the retailer’s previous... View Article
  
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• Co-op hits new milestone with 400 stores on Deliveroo

  11-08-2020 01:00 via theretailbulletin.com
  
  The Co-op has reached a major milestone in its partnership with Deliveroo with the delivery app’s customers now able to order from 400 Co-op stores. The partnership is... View Article
  
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• Aldi teams up with RNIB to trial audio prompts for traffic light system 

  11-08-2020 01:00 via theretailbulletin.com
  
  Aldi has teamed up with the Royal National Institute of Blind People to trial the addition of audio prompts to its traffic light entry system that was introduced to... View Article
  
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