Retail news

• Bottom line for UK jobs is something needs to follow furlough scheme | Nils Pratley

  25-08-2020 20:09
  
  Not all jobs can be saved, but a sudden crunch of layoffs would have multiplying effectsTesco’s plan this week to create 16,000 jobs was a reminder that not every retail employer is shrinking its workforce, but the broader picture is unmistakable. Job cuts in the sector are happening at the fastest rate since 2009, according to the CBI’s monthly survey of “distributive trades”, and worse is expected in September.In one small respect, the CBI’s finding is surprising.
  
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• Supply chain monitor shuns Boohoo inquiry and questions its independence

  25-08-2020 18:44
  Ethical Trading Initiative criticises probe’s focus on factories rather than buying practices
  
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• All the retailers that have made job cuts amid Covid-19

  25-08-2020 18:25 via retailgazette.co.uk
  According to figures compiled by the PA news agency, the retail bloodbath has claimed or put under threat at least 41,400 UK jobs since the lockdown in late March.
  Meanwhile, data from the Centre for Retail Research published in July revealed that at least 24,348 jobs have already been lost across insolvent UK retailers this year alone.
  The coronavirus crisis has sparked a swathe of shop closures, administrations, CVAs and general restructures, as consumer uncertainty has taken its toll while on
  
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• Retail returns increase as Brits regret lockdown purchases

  25-08-2020 17:17 via retailgazette.co.uk
  // Retail returns increase by 25% in July
  // Consumers made unwanted purchases during the Covid-19 lockdownNew research has found that the level of retail returns increased by 25 per cent in July, compared to the same month last year as shoppers sent back unwanted purchases made during lockdown.
  UK postal service Royal Mail found said the top five areas that saw the most returns were St Albans, Watford, Kingston-upon-Thames, Ilford and south west London.
  When split into countries, Edin
  
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• Worst fall in UK retail employment since financial crisis as Covid-19 takes toll – as it happened

  25-08-2020 15:52
  
  Rolling live coverage of business, economics and financial markets as retailers expect accelerating job losses
  US-China trade talks spark stock market optimismUK retailers report grim employment outlook - CBIGerman second-quarter GDP down 9.7%, slightly better than expectedChinese payments company Ant Group files for mega-listingCo-operative Bank to cut 350 jobs and close 18 branches 2.52pm BST Economists are worried about the UK’s economic prospects going into the winter, and hopes of a s
  
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• Lidl expands next-day delivery to thousands more customers with Buymie

  25-08-2020 15:28 via chargedretail.co.uk
  
  Lidl has extended its same-day delivery service to tens of thousands more customers as it expands its partnership with Buymie.
  Buymie will now deliver Lidl groceries to 86,000 new households in Cork, Ireland, as it continues its “rapid expansion” during the pandemic.
  This will take the total number of households across the UK and Ireland that Buymie delivers to 750,000 households, having grown 325 per cent during the first half of the year.
  READ MORE: Co-op partners with Buymie
  
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• UK retailers report widespread job cuts as shoppers move online

  25-08-2020 15:07
  CBI survey finds record number of employers reduce staff numbers in August
  
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• Best Buy boosted by working at home trend

  25-08-2020 14:44
  US electronic retailer warns demand for some gadgets so high supplies are dwindling
  
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• Best Buy boosted by trend for working at home

  25-08-2020 14:44
  Consumers buy up computers, tablets and printers from biggest US electronics retailer
  
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• UK post-lockdown sofa sales surge, says DFS

  25-08-2020 14:35
  
  DFS sales over past six weeks £100m higher than expected but boom may not lastPost-lockdown sales of sofas have surged at homeware retailer DFS Furniture, as people spent money on new furnishings after months confined to their homes because of the coronavirus crisis.Sales over the past six week were £100m higher than initially expected, the company said, news which sent DFS shares up by 13%, to 170p. Continue reading...
  
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• 'Pleasant surprise' for DFS as sofa sales in UK surge post-lockdown

  25-08-2020 14:35
  
  Shares jump 13% on six-week sales figures £100m higher than expected Post-lockdown sales of sofas have surged at the retailer DFS Furniture, as people bought new furnishings after months confined to their homes.Sales over the past six week were £100m higher than initially expected, the company said. The news sent DFS shares up by 13%, to 170p. Continue reading...
  
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• UK retailers cutting jobs at fastest rate since 2009, CBI says

  25-08-2020 13:59
  
  Crisis likely to worsen as Covid pandemic dents consumer confidence, survey showsCoronavirus – latest updatesSee all our coronavirus coverageRetailers cut jobs during the year to August at the fastest rate since 2009, with an even sharper decline anticipated for the figures to September, according to a survey of the industry.The CBI’s monthly distributive trades survey found the outlook was expected to deteriorate in the autumn after more than half of retailers said they expected to
  
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• UK retailers cutting jobs at fastest rate since 2009, CBI survey shows

  25-08-2020 13:46
  
  Figures expected to worsen due to impact of Covid pandemic on consumer confidenceCoronavirus – latest updatesSee all our coronavirus coverageRetailers cut jobs during the year to August at the fastest rate since 2009 with an even sharper decline anticipated for the figures to September, according to a survey of the retail industry.The CBI’s monthly distributive trades survey found the outlook was expected to deteriorate in the autumn after more than half of retailers said they expect
  
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• Bensons for Beds picks Stacey Solomon as first major brand ambassador

  25-08-2020 13:44 via retailgazette.co.uk
  // Bensons for Beds partners with TV personality Stacey Solomon
  // The partnership is part of Bensons for Beds’ transformation schemeBensons for Beds has stepped up its transformation scheme by partnering with TV personality Stacey Solomon and launching a range of sustainable rolled-up mattresses.
  Solomon is the first major brand ambassador for the bedding retailer, and joins after Bensons for Beds secured £25 million in financial support through a restructuring deal in June.
  Part of
  
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• Retail employment plunges at fastest rate since financial crisis

  25-08-2020 13:13 via retailgazette.co.uk
  // Retail employment rate in August fell at the fastest rate since February 2009, says the CBI
  // Retail employment fell 45% in August, compared to 20% in May
  // An even sharper decline of 51% is anticipated in SeptemberThe UK’s retail employment rate has plunged at the fastest pace since the 2008/09 financial crisis and the worst is yet to come, a new report has shown.
  Retail employment fell 45 per cent in the year to August – the sharpest drop since February 2009, according to the
  
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• DFS remains cautious despite lockdown sales surge

  25-08-2020 13:05
  Furniture orders jump but chain warns job losses and Brexit cloud outlook
  
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• Worst fall in UK retail employment since financial crisis as Covid-19 takes toll – business live

  25-08-2020 13:01
  
  Rolling live coverage of business, economics and financial markets as retailers expect accelerating job losses
  US-China trade talks spark stock market optimismUK retailers report grim employment outlook - CBIGerman second-quarter GDP down 9.7%, slightly better than expectedChinese payments company Ant Group files for mega-listingCo-operative Bank to cut 350 jobs and close 18 branches 12.01pm BST A British music tech startup has struck a surprise $70m deal to buy Napster, one of the pioneers of t
  
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• John Lewis latest to roll out virtual queuing system to help vulnerable shoppers

  25-08-2020 12:34 via chargedretail.co.uk
  
  John Lewis has launched a new virtual queuing system which will “let you wait for your turn in line from the comfort of your car”.
  The new virtual queuing system will allow shoppers to scan a QR code with their smart phones then track their position in a virtual queue via SMS in real time.
  Customers will be informed via text when they are nearing the front of the queue and when they can enter the store.
  Its new system, which is being trialled for four weeks at three John Lewis stores
  
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• LVMH and Tiffany & Co extend deadline to conclude £12bn deal

  25-08-2020 12:20 via retailgazette.co.uk
  // LVMH and Tiffany & Co extend deadline to complete £12.41 billion deal
  // The acquisition did not close on August 24 – the date set out in deal documentsLouis Vuitton owner LVMH and US jewellery retailer Tiffany & Co have extended the deadline to complete their $16.2 billion (£12.41 billion) deal after the acquisition did not close on August 24 – the date set out in deal documents.
  The deal was agreed upon last year as LVMH was set to make its biggest acquisitio
  
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• Debenhams to appeal £1.1m business rates rise at south Wales store

  25-08-2020 10:45 via retailgazette.co.uk
  // Debenhams set to appeal a 12% business rates increase to £1.1 million at its Swansea store
  // The date of the Swansea rates tribunal remains uncertain but expected to take place in OctoberDebenhams is reportedly set to appeal to a local tribunal against a 12 per cent increase in the rates bill of its Swansea store.
  The department store chain is fighting to save jobs and outlets as the south Wales store witnesses a 12% increase to £1.1 million, The Times reported.
  The date of the S
  
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• German economic recovery from Covid-19 remains 'fragile', warn economists – business live

  25-08-2020 10:44
  
  Rolling live coverage of business, economics and financial markets as indicators suggest bounceback has startedUS-China trade talks spark stock market optimismGerman second-quarter GDP down 9.7%, slightly better than expected 9.44am BST We knew that a recovery from the April nadir was coming, but economists are intently studying early indicators for signs of how fast activity will come back.Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, said Ifo’s business climate ind
  
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• Next to open beauty halls in former Debenhams sites at Intu centres

  25-08-2020 10:14 via retailgazette.co.uk
  // Next signs deals to open new concept beauty halls in former Debenhams stores at 3 Intu malls
  // Next already agreed terms to open beauty concepts in three former Debenhams stores with Hammerson
  // Next says the beauty concept will be complimented by its online beauty businessIntu has confirmed it has signed deals with Next for it to open new concept beauty halls in former Debenhams stores within its shopping centres.
  The fashion retail giant will open its new beauty concepts in former Debenha
  
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• Treasury denies mulling the removal of the £500m digital sales tax

  25-08-2020 10:00 via retailgazette.co.uk
  // The Treasury denies reports that it is considering axing the £500 million online sales tax
  // The online sales tax was launched as a “proportionate measure” so tech giants “pay their fair share of tax”
  // The US government has urged the UK to reconsider the tax due to it being too “punitive”The Treasury has denied reports that it is mulling the removal of a £500 million online sales tax, which was designed by former chancellor Philip Hammond and
  
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• The fashion industry echoes colonialism – DfID's scheme will subsidise it | Meg Lewis

  25-08-2020 09:30
  
  Covid-19 has exposed the fragility of supply chains, which rely on the labour of black and brown workers. The deep inequalities won’t be fixed by injecting funds at the topIs the UK governed by parliamentary democracy or big businesses? It is a question that should concern us all, yet it is becoming increasingly hard to differentiate between the two, as the government hands out multimillion-pound contracts to private firms with dubious track records, and ministers revolve between roles at
  
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• Stock markets boosted by US-China trade hopes – business live

  25-08-2020 09:23
  
  Rolling live coverage of business, economics and financial markets8.07am BST Good morning, and welcome to our live coverage of business, economics and financial markets.Investors appear to have taken heart from an easing in US-China trade tensions, after officials from both sides reaffirmed their commitment to reaching a deal.Details scant for now, but tone of US/China Phase One trade deal discussion was clearly constructive, global equities clearly responding to the news positively pic.twitter.
  
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• Arcadia accused of offering redundancies based on furlough instead of full pay

  25-08-2020 09:19 via retailgazette.co.uk
  // Sir Philip Green’s Arcadia Group accused of potential breaching employment law
  // Arcadia bases some workers’ redundancy pay outs on furlough earnings instead of full salary
  // The firm is making up to 500 head office staff redundant after a slowdown in trade during the pandemicSir Philip Green’s Arcadia Group retail empire has landed itself in hot water again amid accusations of connecting redundancy payouts to the less-paid furlough programme.
  According to The Guardian, th
  
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• My battery has gone flat trying to deal with PC World

  25-08-2020 08:00
  
  We need a simple fix but there was no response from Team KnowhowI’ve been trying to get my daughter’s laptop (bought last year) fixed by Currys PC World since May. I think it needs a new battery. It fails to charge after only nine months, so not a serious issue and one I could fix myself, but that would invalidate the warranty.I emailed its support team, Team Knowhow, detailing how I came to this conclusion (not difficult, and I work in IT), and when there was no response after a cou
  
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• Tiffany unveils further plans for renovation of iconic Fifth Avenue store

  25-08-2020 01:00 via theretailbulletin.com
  
  Luxury jeweller Tiffany has unveiled plans for a glass addition to the top of its iconic flagship store on New York’s Fifth Avenue. The plans include floors... View Article
  
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• Studio posts uplift in sales and profit

  25-08-2020 01:00 via theretailbulletin.com
  
  Studio Retail has posted an uplift in both sales and profit in the year to 27 March. Total group revenue edged up 2.2% to£514.8 million while adjusted... View Article
  
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• Royal Mail reveals online returns hotspots

  25-08-2020 01:00 via theretailbulletin.com
  
  New figures from Royal Mail have revealed that it saw a 25% uplift in retail returns traffic in July compared to the same month last year as shoppers sent... View Article
  
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• Martech companies Mention Me and Ometria form partnership to revolutionise referral for leading retailers

  25-08-2020 01:00 via theretailbulletin.com
  
  Referral marketing and customer retention platform Mention Me and customer marketing platform Ometria have formed a partnership. It means that, for the first time in the... View Article
  
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• M&S trials contactless and drive-thru click & collect

  25-08-2020 01:00 via theretailbulletin.com
  
  M&S is accelerating growth in its online capabilities with a trial of contactless and drive-thru click and collect services at selected stores. The retailer has launched... View Article
  
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• H&M collaborates with Giuliva Heritage

  25-08-2020 01:00 via theretailbulletin.com
  
  H&M has collaborated with luxury Italian brand Giuliva Heritage on a new women’s fashion collection. Known for its flawless tailoring, the  company is led by husband and... View Article
  
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• DFS trading ‘significantly ahead’ of expectations

  25-08-2020 01:00 via theretailbulletin.com
  
  DFS has said its orders have come in significantly ahead of expectations in the last six weeks.  In a trading update, the furniture retailer said trade has... View Article
  
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• Cox & Cox hails strong second quarter results

  25-08-2020 01:00 via theretailbulletin.com
  
  Online homewares retailer Cox & Cox grew its sales by 59% in its second quarter as it acquired and retained more customers. Orders climbed by 75% as customers bought items... View Article
  
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