Retail news

• It is hard to spot the success of Mike Ashley's 'elevation' strategy

  20-08-2020 21:43
  
  Frasers Group talks about their stores as a ‘work in progress’; others might call it a mistake A “semblance of normality” is returning to retail-land, said Mike Ashely’s Frasers Group, seeming to encourage the same judgment about the company itself.This year’s annual results were delivered without last year’s background explosions from auditors and Belgian tax authorities. The 18% fall in pre-tax profits to £117m was a better outcome than the City
  
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• Retail veterans lining up £6.5bn rival private equity bids for Asda

  20-08-2020 20:39
  
  Either Rob Templeman or Paul Mason could possibly become chairman in a concluded dealTwo retail veterans are lining up to front rival £6.5bn private equity bids for Asda, the UK’s third largest supermarket.Rob Templeman, a former chief executive of Debenhams, is understood to be assisting Apollo Global Management, while Paul Mason, a former Asda chief executive who also once led discount fashion group Matalan and the now defunct Somerfield supermarket, is linked to Lone Star Funds. C
  
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• The Rolling Stones to open flagship UK shop in September

  20-08-2020 20:19
  
  RS No. 9 Carnaby has been curated by the Rolling Stones and merchandising company BravadoThe Rolling Stones will open a flagship store in London’s Soho selling clothing and merchandise, including special glassware developed with Baccarat, engraved with the band’s tongue logo.RS No. 9 Carnaby at 9 Carnaby Street will also feature raincoats and hats from Swedish brand Stutterheim. Related: The Rolling Stones review – old devils put on raw, thrilling showContinue reading...
  
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• Textiles on main street: Rolling Stones to open flagship London shop

  20-08-2020 20:19
  
  Store will sell clothes and merchandise and introduce an official colour: Stones RedThe Rolling Stones will open a flagship store in London’s Soho selling clothing and merchandise, including special glassware developed with Baccarat, engraved with the band’s tongue logo.RS No 9 Carnaby at 9 Carnaby Street will also feature raincoats and hats from the Swedish brand Stutterheim. Related: The Rolling Stones review – old devils put on raw, thrilling showContinue reading...
  
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• Ethical cosmetics company Lush accused of poor working conditions for Australian staff

  20-08-2020 19:30
  
  Retailer says it is engaging with staff complaints about injuries sustained at its Sydney factoryWorkers at global ethical cosmetics company Lush claim they have suffered physical injuries and have developed breathing difficulties due to allegedly poor working conditions in the chain’s Australian factory.Lush, a British-based firm that prides itself on its handmade products and ethical supply chain, employs up to 70 full time workers in Australia who create its handmade soaps, shampoos, an
  
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• Estée Lauder: fading allure

  20-08-2020 18:44 via ft.com
  Who needs to buy brand-name lipsticks when stuck at home or wearing a mask?
  
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• Frasers Group CFO: Thousands of jobs at risk without business rates reform

  20-08-2020 18:03 via retailgazette.co.uk
  // Frasers Group CFO Chris Wootton says “tens of thousands of jobs will vanish” if the govt fails to reform business rates
  // He says the one-year rates holiday was “very important” but will be “worth little” if they’re not revalued ahead of the new financial year
  // His comments come shortly after Frasers Group revealed its annual trading resultsFrasers Group’s chief finance officer has warned that “tens of thousands of jobs will vanish&rdqu
  
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• High Street Task Force: Evolution of the high street

  20-08-2020 18:00 via retailgazette.co.uk
  Even before the Covid-19 pandemic, high streets up and down the country were struggling amid rapidly-changing consumer habits.
  In the High Street Report that was published in late 2018, Sir John Timpson – the owner of shoe repair giant Timpson who chaired the report – warned that UK retail would not return to the high streets that existed 10 or 20 years ago. On the other hand, the report made the call for more money to be granted to local authorities to rejuvenate their town centres
  
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• Estée Lauder plans to cut up to 2,000 jobs globally after profits dive

  20-08-2020 17:56
  
  Surged in online sales during pandemic not enough to offset temporary closure of outletsCoronavirus – latest updatesSee all our coronavirus coverageEstée Lauder is planning to cut up to 2,000 jobs worldwide as it shuts stores and department store beauty counters after a slump in sales and profits during the coronavirus pandemic.The makeup, skincare and perfume company, which also owns brands such as Joe Malone, Clinique, La Mer and MAC, said it intended to shut between 10% and 15% o
  
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• Hugo Boss staff permanently switch to flexible working

  20-08-2020 17:32 via retailgazette.co.uk
  // Hugo Boss staff to only work Tuesday to Thursday in office even after coronavirus
  // On Mondays and Fridays, they can work from home if they chose to
  // This is initially being rolled out in Germany before its 60 global subsidiaries adapt itHugo Boss has revealed that it is implementing a permanent flexible office work arrangement for its staff.
  The fashion retailer said many staff will work in the office from Tuesday to Thursday even after the coronavirus pandemic, with the option of remote
  
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• Burberry launches £90 coronavirus face mask

  20-08-2020 16:51
  
  Designer face covering is available in brand’s signature beige check as well as pale blue Coronavirus – latest updatesSee all our coronavirus coverageBurberry has launched a collection of face coverings in the first foray into mask fashion from a major designer clothing brand.Though pictures of Chanel, Gucci and Louis Vuitton-branded masks proliferate on social media, these have been counterfeit designs. Bluechip fashion houses have been slow to sell face coverings as fashion, mindfu
  
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• Apple becomes first US company to be worth $2 trillion after doubling its value in a year

  20-08-2020 14:54 via chargedretail.co.uk
  
  Apple has hit a market capitalisation of $2 trillion for the first time in its history, despite the US enduring the worst recession since the great depression.
  Apple’s shares hit $477.67 on the New York Stock Exchange yesterday, pushing its market capitalisation to $2 trillion just two years after it became the first company in history to top $1 trillion.
  While Saudi Aramco became the first company in history to top $2 trillion in December, its value has since dropped to around $1.8 trilli
  
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• Alibaba beats revenue expectations despite looming threats

  20-08-2020 14:11 via ft.com
  China’s largest ecommerce group faces risks from surging rivals and Washington hawks
  
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• Alibaba: diverging mirror

  20-08-2020 13:53 via ft.com
  Domestically the Chinese ecommerce group has run into fierce competition from Tencent. It is counting on the US for growth
  
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• Primark enters 13th market with debut store in Poland

  20-08-2020 13:39 via retailgazette.co.uk
  // Primark opens its first store in Poland
  // The Warsaw site marks the retailer’s official entry into its 13th market
  // It brings the total number of Primark stores to 382Primark has officially entered its 13th market with the opening of its first store in Poland.
  The store, which has created over 250 jobs, is located at Galeria Młociny shopping centre in Warsaw.
  The new store spans 39,396sq ft of retail space across two floors and showcases Primark’s latest shop fit with 30 c
  
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• 44% of consumers expect to permanently change shopping habits post-Covid

  20-08-2020 13:21 via retailgazette.co.uk
  // 44% of shoppers say they’l see permanent changes to how they shop
  // 47% think the number of times they shop online will definitely increaseAlmost half of UK shoppers have said they believe the coronavirus pandemic will have a permanent impact on their habits, according to new research.
  Research by O2 Business and Retail Economics revealed that 44 per cent think they will see permanent changes to the way they shop, with many saying they expect to shop online more regularly.
  The survey s
  
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• Tesco blackmail trial: farmer convicted of spiking baby food

  20-08-2020 12:47
  
  Nigel Wright found guilty of contaminating three jars with metal shards in extortion plotA Lincolnshire sheep farmer has been convicted of two counts of contaminating food after placing three jars of baby food laced with shards of metal in two Tesco stores.Nigel Wright, of Market Rasen, was also found guilty of three counts of blackmail for demanding cryptocurrency from Tesco in exchange for revealing where the contaminated food had been placed. Continue reading...
  
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• Toys R Us resurrected ecommerce operations are now run through Amazon

  20-08-2020 11:37 via chargedretail.co.uk
  
  Toys R Us is now using Amazon to power its ecommerce operations as it quietly ends its partnership with rival Target.
  Ahead of the holiday season last year, the recently resurrected Toys R Us announced a new partnership with Target to power its ecommerce operations.
  Under the tie-up, customers purchasing products on the recently launched ToysRUs.com had the option to “buy now at Target.com”, where they were redirected to Target’s website to complete their purchase.
  It has now q
  
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• TK Maxx owner endures net loss of £160m as sales slow down

  20-08-2020 11:25 via retailgazette.co.uk
  // TK Maxx owner TJX UK posts net loss of £160.8 million in its second quarter
  // TJX said it experienced “very strong” sales across all of its retail banners and countries when stores first reopenedTK Maxx owner has revealed a net loss of $214.2 million (£160.8 million) in its second quarter as the company continued to struggle with trading since the Covid-19 lockdown.
  In the three month period ending August 1, TJX UK said net sales were better than expected and rea
  
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• House of Fraser owner threatens landlords with store closures over rent

  20-08-2020 10:45
  
  Frasers Group profits fall as Brexit and Covid-19 bring ‘most challenging year’ in its historyCoronavirus – latest updatesSee all our coronavirus coverageMike Ashley’s Frasers Group has threatened to close stores if landlords will not agree to move to rents based on sales figures, after it said Brexit and the coronavirus pandemic led to “the most challenging year in the history of the company”.Underlying pre-tax profits for the group, which owns Sports Direct,
  
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• Hotel Chocolat launches first ever “drive-to” outlet to cut food waste

  20-08-2020 10:34 via retailgazette.co.uk
  // Hotel Chocolat introduces new “drive-to” outlet store
  // The confectionery retailer has opened the new store in CambridgeshireHotel Chocolat has reportedly launched a “drive-to” outlet store as it accelerates plans to reduce food waste and leverage on the demand for sustainability.
  The confectionery retailer has opened the new store in Cambridgeshire at the site of a former Cath Kidston store, next to its main distribution centre in St Neots.
  The 1400sq ft store is twi
  
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• Mike Ashley warns of store closures at House of Fraser despite expected profit rise

  20-08-2020 10:06 via ft.com
  Frasers chief calls for reform of UK business rates to prevent job losses across retail sector
  
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• Frasers to invest in luxury retail as it expects profits to rise 30%

  20-08-2020 10:06 via ft.com
  Sports Direct owner says group pre-tax profit before exceptional items fell 20% last year
  
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• Mothercare overhauls business model & seals delayed Boots deal

  20-08-2020 09:59 via retailgazette.co.uk
  // Mothercare confirms new business model in the UK
  // This includes finally completing the 10-year deal with Boots to become its UK & Ireland franchise partner
  // It had also struck a new 20-year franchise arrangement with Alshaya Group, its main franchise partnerMothercare has announced a new business model after talks with franchisees as it also finalised a deal with Boots to sell goods across the chain in time for the autumn season.
  The maternity and early childhood retailer said the new
  
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• Frasers Group blames Brexit & Covid-19 on profit dip as it mulls shop closures

  20-08-2020 09:53 via retailgazette.co.uk
  // Frasers Group profits decline as it blames Brexit and Covid-19
  // Mike Ashley’s retail empire warned of more store closures as it shifts it focus towards onlineFrasers Group has warned of further store closures after revealed a drop in profits in its delayed full year results, which it blamed on Brexit and the coronavirus pandemic.
  For the year ending April 26, 2020, Frasers Group recorded a profit before tax decline of 19.9 per cent to £143.5 million, while underlying profits bef
  
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• Ted Baker global wholesale and partnerships director steps down

  20-08-2020 09:28 via retailgazette.co.uk
  // Ted Baker global wholesale and partnerships director Ricky Green resigns
  // Green worked in sourcing and buying roles across companies prior to Ted BakerTed Baker global wholesale and partnerships director Ricky Green has departed after less than a year in his role.
  Green joined Ted Baker in 1995 as global wholesale director before being promoted to global wholesale and partnerships director in March 2020.
  He worked in sourcing and buying roles across companies including Coles
  
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• Frasers Group blames Brexit & Covid-19 on profit dip as it mulls further shop closures

  20-08-2020 09:23 via retailgazette.co.uk
  // Frasers Group profits decline as it blames Brexit and Covid-19
  // The group warned of more store closures as it shifts it focus towards its online businessFrasers Group has revealed a drop in profits from its delayed preliminary results, which it has blamed on Brexit uncertainty as well as the coronavirus pandemic.
  For the year ending April 26, 2020, Frasers Group recorded a profit before tax decline of 19.9 per cent to £143.5 million, while underlying profits before tax dropped 18.1 pe
  
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• Brits’ shift to online grocery shopping is “irreversible” Waitrose says

  20-08-2020 08:57 via retailgazette.co.uk
  // Waitrose report suggests consumers are shifting increasingly towards online shopping
  // 1 in 4 Brits now buy food and essentials at least once a week onlineThe number of UK customers opting for an online weekly grocery shop has doubled since the coronavirus lockdown, in what upmarket grocer Waitrose describes as “irreversible”.
  One in four Brits now buy food and essentials at least once a week online, while more than three-quarters purchase regular household goods from supermarket
  
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• Self-help dealmaking: Simon says let’s go shopping

  20-08-2020 06:00 via ft.com
  Amid the retail reckoning, the mall landlord is buying up its tenants
  
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• Pandemic prompts doubling of online grocery shoppers in UK

  20-08-2020 01:01
  
  Quarter of consumers buying food online at least once a week since lockdown finds WaitroseCoronavirus – latest updatesSee all our coronavirus coverageThe number of consumers in the UK who do a weekly grocery shop online has doubled since the coronavirus lockdown, in a trend that is now “irreversible”, according to a supermarket report.One in four consumers now buy food and essentials at least once a week online, while more than three-quarters order at least some of their regula
  
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• The Rolling Stones to open Carnaby Street store

  20-08-2020 01:00 via theretailbulletin.com
  
  Rock and roll legends The Rolling Stones are to open a flagship store in London’s Carnaby Street shopping district. Called ‘RS No. 9 Carnaby’, the shop has... View Article
  
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• Poundland makes major homewares move

  20-08-2020 01:00 via theretailbulletin.com
  
  Poundland is launching new homewares shop-in-shops in its UK stores and Irish Dealz stores this week. Around 800 stores will be putting items from the retailer’s contemporary PEP&CO... View Article
  
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• Mothercare gives update on franchise moves

  20-08-2020 01:00 via theretailbulletin.com
  
  Mothercare has said it has now completed the contractual arrangements for the appointment of Boots as its UK and Republic of Ireland franchise partner. The move will enable the... View Article
  
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• Kate Spade and Peloton join line-up at Birmingham’s Bullring

  20-08-2020 01:00 via theretailbulletin.com
  
  Birmingham’s Bullring has added Kate Spade New York and Peloton to its line-up. Luxury accessories brand Kate Spade opened a new 1.500 square foot store at the... View Article
  
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• Deepen your customer relationships through digital loyalty schemes

  20-08-2020 01:00 via theretailbulletin.com
  
  The days of the physical loyalty card are long gone. People’s shopping habits have evolved, from selecting from an array of cards in a wallet or... View Article
  
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• Bestway chief retail officer to step down

  20-08-2020 01:00 via theretailbulletin.com
  
  Bestway Retail has announced that its chief retail officer Andy Cresswell is to leave the company in January next year. Cresswell joined the business in January 2019... View Article
  
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• AO World posts strong sales uplift

  20-08-2020 01:00 via theretailbulletin.com
  
  Online domestic appliance retailer AO World has seen its UK revenue grow by 58.9% to £401.3 million in the four months to 31 July. In addition,... View Article
  
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