Retail news

• Davos has become a schmooze-fest for sponsors and celebrities

  26-08-2020 21:06
  
  World Economic Forum capable of highlighting risks that escape attention but it needs to ditch circusIt would be wrong to say the Davos organisers completely missed the threat of a global pandemic. At the World Economic Forum’s event in January 2019 attendees could have read a 20-page report, in collaboration with the Harvard Global Health Institute, that now reads excellently.It concluded: “Although rarely emphasised in businesses’ risk considerations, recent work on pandemics
  
  Read more

• Firms urged to find 'middle ground' on return to UK offices

  26-08-2020 20:48
  
  CBI says city-centre outlets dependent on passing trade face uphill battle to surviveThe traditional end-of-summer commuter crush appears unlikely to materialise next week as companies and staff shun the office and embrace remote working, prompting a warning from the UK’s leading business body about the future of firms that rely on passing trade.Hundreds of thousands of mostly white-collar workers are expected to continue working from home, in some cases permanently, despite the reopening
  
  Read more

• Retail veterans could cash in on £4.5bn Hut Group flotation

  26-08-2020 18:50
  
  Former bosses of Tesco, Debenhams and Matalan among backers of Manchester-based online firmRetail veterans including former bosses of Tesco, Debenhams and Matalan could all cash in under a potential £4.5bn flotation of online business The Hut Group which could be announced this week.The Manchester-based firm owns online retail sites Lookfantastic, Glossybox, Zavvi and Coggles, beauty brands including ESPA and Illamasqua and sports nutrition brand Myprotein. Continue reading...
  
  Read more

• New Look hopes new rent proposals will be in fashion

  26-08-2020 18:49
  Retailer pushes for sales-linked leases; Provident Financial could reap benefits of cashless shift
  
  Read more

• Advertisement

• Labour rights watchdog snubs Boohoo’s supply chain inquiry

  26-08-2020 17:34 via retailgazette.co.uk
  // Ethical Trading Initiative has declined to participate in Boohoo’s independent inquiry into its UK supply chain practices
  // ETI said it will not give evidence because the review “cannot be fully independent”Ethical Trading Initiative (ETI) has refused to give evidence to Boohoo’s QC-led investigation into the fast fashion retailer’s UK supply chain practices.
  The labour rights watchdog has criticised the focus of the independent inquiry, questioning the rev
  
  Read more

• Can Mike Ashley’s Frasers Group turn DW Sports around?

  26-08-2020 16:46 via retailgazette.co.uk
  On Monday, DW Sports joined the likes of Jack Wills, Evans Cycles, Sofa.com, Game and House of Fraser in Mike Ashley’s recent spate of retail acquisitions.
  Less than two weeks after Frasers Group – of which Ashley is the majority owner – initially placed a bid on DW Sports, it acquired certain assets from its competitor for £37 million. Administrators from BDO said 43 of DW Sports’ 73 gyms and 31 of its 50 shops had been transferred to the Frasers Group retail empi
  
  Read more

• New Look CVA “fails to meet best practice standards” BPF says

  26-08-2020 16:42 via retailgazette.co.uk
  // British Property Federation slams New Look’s CVA over inaccuracies
  // New Look is hoping landlords’ approval of the proposal will secure funding from its lendersThe British Property Federation has criticised New Look for inaccuracies in its CVA proposal, which will move the majority of its UK stores’ rent to a turnover basis to reflect the current market environment.
  The membership organisation refuted the retailer’s case that its CVA proposal reflects its views on bes
  
  Read more

• Etsy’s chief executive slams Amazon for “working back channels” to “wipe out its competitors”

  26-08-2020 14:13 via chargedretail.co.uk
  
  Etsy’s chief executive has slammed Amazon for “taking bold steps to wipe out its competitors” by lobbying lawmakers.
  Josh Silverman has accused Amazon of “working back channels” and engaging in an “abuse of market power” after California lawmakers amended a key piece of legislation to favour Amazon’s position.
  Lawmakers are due to vote on the milestone California consumer protection bill this week, which would see marketplaces like Amazon become li
  
  Read more

• Advertisement

• Morrisons upholds apprenticeship offers despite results uncertainty

  26-08-2020 13:39 via retailgazette.co.uk
  // Morrisons says apprentice offers across retail, finance and logistics to be guaranteed, regardless of their results
  // Follows news that students faced uncertainty of grades in BTEC resultsMorrisons has confirmed that all of its offers submitted to students looking to join their degree apprenticeships this year are guaranteed, regardless of their results.
  The Big 4 supermarket had submitted offers to 46 degree apprentices across different areas in the business – such as retail, logistic
  
  Read more

• Nike slashes ties with 9 major wholesalers as it pushes to “create the marketplace of the future”

  26-08-2020 12:09 via chargedretail.co.uk
  
  Nike has cut ties with nine major wholesalers in a bold move which will see its products no longer stocked in over 1000 stores.
  As part of its relentless shift towards a digital direct-to-consumer model, Nike will reportedly stop selling its products to a host of “strategic partners” including Zappos, Belk, Dillards, Boscov’s, Bob’s Stores, Fred Meyer, EBLens, VIM, and City Blue.
  Collectively this means that its products will no longer appear in over 1000 stores, marking
  
  Read more

• J.Crew to emerge from bankruptcy after court approves restructuring plans

  26-08-2020 11:53 via retailgazette.co.uk
  // J.Crew to emerge from bankruptcy in early September
  // A Virginia federal court approved of the retailer’s restructuring plansJ.Crew has said it expects to come out of bankruptcy by early September after a US court approved of its restructuring plan.
  The plan was given the green light by a Virginia federal court, which will equal over $1.6 billion of secured debt, and provide for $400 million in asset-based loan as well as $400 million of fresh financial aid.
  The US fashion retailer&nbs
  
  Read more

• New Look seeks three-year rent holiday in battle for survival

  26-08-2020 11:39
  
  Fashion chain attempts to secure a second rescue deal in 18 months to save 11,200 jobsNew Look is seeking a three-year rent holiday on 68 of its stores and big rent reductions on hundreds of others as it battles to stay afloat and save the jobs of its 11,200 employees.The struggling fast-fashion chain is attempting to secure its second financial rescue deal in 18 months and, along with the payment holiday, is asking landlords to slash rents to 12% of current levels on a further 402 of its shops.
  
  Read more

• Hammerson drafts in new architects for Dublin development

  26-08-2020 11:27 via retailgazette.co.uk
  // Hammerson to go ahead with Dublin Central development plans
  // Irish architects will join Acme to accelerate existing proposals
  // The new development in Dublin’s north inner city will be for mixed-useHammerson is moving forward with its Dublin Central development by appointing Irish architects Grafton, RKD and MOLA “to advance the ambitious regeneration”.
  The newly-appointed architects will join Acme architects to accelerate the existing proposals and bring forward planning
  
  Read more

• New Look seeks to switch 402 stores to turnover rents

  26-08-2020 11:13
  High street fashion chain says it has no plans to close more stores in latest restructuring
  
  Read more

• New Look seeks to cut rents with switch to turnover-based leases

  26-08-2020 11:13
  UK high street fashion chain says ‘landlords have not seen the downside that we have’
  
  Read more

• New Look to switch 402 stores to turnover rent under new CVA proposal

  26-08-2020 10:41 via retailgazette.co.uk
  // New Look announces CVA proposal & confirms financial restructuring
  // Retailer seeks to move majority of UK stores’ rent to turnover basis to reflect market environment
  // The CVA proposal does not affect New Look’s 11,200-strong workforceNew Look has launched a CVA proposal that entails switching more than 400 of its UK stores to a turnover-based rent model, and also confirmed a financial restructure to reduce its costs after sales were hit by the coronavirus pandemic.
  Follow
  
  Read more

• Chanel’s Bond Street store on sale as luxury sector sees glimmer of hope

  26-08-2020 10:03 via retailgazette.co.uk
  // Chanel Bond Street store goes on sale as owners seek over £240 million
  // The London boutique showcases the brand’s clothing, fine jewellery and beauty products
  // Sales of shop premises in the West End have dropped since the Covid-19 pandemic struckThe owner of Chanel’s London Bond Street store has reportedly appointed advisory firm JLL to seek offers of more than £240 million for the property.
  The 12,600sq ft was the largest Chanel boutique when it was opened in 2013
  
  Read more

• Co-op Bank slashes 350 high street bank branch jobs

  26-08-2020 09:48 via retailgazette.co.uk
  // Co-op Bank slashes 350 jobs and shuts down 18 high street bank branches
  // The job cuts are mostly in bank branches but also middle management & head office rolesThe Co-operative Bank plans to cut around 350 jobs from up and down the country as it closes 18 high street branches and slashes middle management and head office roles.
  The bank said it has not been immune to the effects of recent months, as low interest rates hit the income of all lenders.
  More customers are also choosing to ba
  
  Read more

• Frasers Group places Bob’s Stores under review after Nike cuts ties

  26-08-2020 09:29 via retailgazette.co.uk
  // Frasers Group reviews its Bob’s Stores fascia in the US after Nike cuts ties
  // Nike has confirmed it will no longer distribute to Bob’s Stores 24-strong US estate from the end of March 2021Mike Ashley’s Frasers Group has confirmed that Nike has cut distribution ties with its US subsidiary Bob’s Stores, prompting it to place the fascia under a strategic review.
  In a statement to the City, Frasers Group said Nike, as of March 2021, will no longer distribute to Bob&rsquo
  
  Read more

• Shoe Zone CEO & chairman increase stakes amid boardroom changes

  26-08-2020 09:10 via retailgazette.co.uk
  // Shoe Zone board member Jeremy Sharman resigns & sells stake in business to CEO Anthony Smith & chairman Charles Smith
  // Charles Smith now has a 22% stake in Shoe Zone, while Anthony Smith accounts for 28% of the businessShoe Zone’s chief executive and chairman have both increased their stakes in the footwear retailer after non-executive director Jeremy Sharman stepped down from the board.
  The Sharman Family Pension Fund – of which Jeremy Sharman is a beneficiary – s
  
  Read more

• Webinar -Sept 9 12PM – Invigorating physical store sales post lockdown – Digital Instore Transformation

  26-08-2020 01:00 via theretailbulletin.com
  
  September 9, 12pm Retailers are now seeking new ways to bring sales that have shifted online back into stores by blending the online shopping experience with... View Article
  
  Read more

• Webinar: Invigorating physical store sales post lockdown – digital instore transformation

  26-08-2020 01:00 via theretailbulletin.com
  
  September 9, 12pm Retailers are now seeking new ways to bring sales that have shifted online back into stores by blending the online shopping experience with... View Article
  
  Read more

• Shoe Zone announces board change

  26-08-2020 01:00 via theretailbulletin.com
  
  Shoe Zone has announced that Jeremy Sharman has stepped down as a non-executive director of the business and been replaced by The Works supply chain director Victoria Norrish. Prior... View Article
  
  Read more

• Report – The pandemic’s effect on customer & employee experience

  26-08-2020 01:00 via theretailbulletin.com
  
  Wondering how the pandemic has impacted industries around the world?  Want a glimpse into what affects the lockdown has had on both the customer and employee experiences? ... View Article
  
  Read more

• Q&A – Mike Brinn, Global Loyalty Director, TLC Marketing Worldwide

  26-08-2020 01:00 via theretailbulletin.com
  
  TLC Marketing specialises in unique reward experiences that deliver an enviable ROI and improved brand metrics to loyalty programs. Mike is an advocate of putting customers... View Article
  
  Read more

• New Look asks landlords to move 402 stores to turnover based rents

  26-08-2020 01:00 via theretailbulletin.com
  
  Fashion retailer New Look has asked landlords to switch rents to a turnover based model on 402 stores as part of a newly launched company voluntary arrangement proposal. If... View Article
  
  Read more

• Liverpool ONE reports strong footfall post-lockdown

  26-08-2020 01:00 via theretailbulletin.com
  
  Figures released by the Liverpool ONE shopping destination have revealed that its footfall is now at 86% of the level seen at this time last year while... View Article
  
  Read more

• John Lewis launches online Christmas Shop earlier than ever

  26-08-2020 01:00 via theretailbulletin.com
  
  John Lewis & Partners has launched its online Christmas Shop earlier than ever year this year due to  the high level of customer searches on its website for... View Article
  
  Read more

• Frasers Group puts Bob’s Stores under strategic review

  26-08-2020 01:00 via theretailbulletin.com
  
  Frasers Group has placed its Bob’s Stores retail business under strategic review. The move follows confirmation that Nike will stop distributing to Bob’s Stores at the end of... View Article
  
  Read more

• Flooring Superstore opens first London shop

  26-08-2020 01:00 via theretailbulletin.com
  
  Flooring Superstore has opened its first store in London and 20th in the UK. The 3,500 square foot shop at Staples Corner Retail Park in Brent Cross stocks... View Article
  
  Read more

Follow @retailuknws on Twitter!