Retail news

• Walmart enters race for TikTok US with Microsoft partnership

  27-08-2020 20:34
  Retailer says deal for video app would boost its marketplace and ad businesses
  
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• Walmart joins Microsoft bid for TikTok takeover in US

  27-08-2020 20:22
  
  Walmart hopes deal could help target younger consumers and boost its nascent ad businessWalmart has partnered with Microsoft to bid for the US operations of hugely popular video-sharing app TikTok, as the world’s largest retailer looks to become a force in the fast-growing digital media sector.Walmart, which is looking beyond bricks and mortar to rival to Amazon in online retail, said that it is confident the joint bid will pass muster with the Donald Trump administration. Related: TikTok
  
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• Rolls-Royce hoping to avoid Covid second wave on bumpy flight path | Nils Pratley

  27-08-2020 20:22
  
  Bleak figures show how engines market is struggling, but asset sales could help firm muddle throughThis is how bad things have got for Rolls-Royce, pride of the UK’s engineering industry: its finance director would prefer to work for Ocado and his career move looks rational. The online grocer, remarkably, is three times the size of the engine-maker these days by stock market capitalisation – and the share-incentive prospects at his new home will be better to boot.The timing of Stephe
  
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• Pret A Manger slashes third of its workforce

  27-08-2020 19:37
  Sandwich chain says pandemic has stripped away ‘a decade of growth’ as it axes 2,890 jobs
  
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• Abercrombie & Fitch chief takes comfort in casual clothing demand

  27-08-2020 19:03
  Fran Horowitz says retailer has enjoyed strong sales of hoodies, joggers and fleeces during pandemic
  
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• Walmart joins Microsoft bid for TikTok US

  27-08-2020 18:20
  Retailer says deal for video app would boost its marketplace and ad businesses
  
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• Customers opting for organic as sales almost double, Waitrose says

  27-08-2020 17:24 via retailgazette.co.uk
  // Waitrose sees rise in its organic range during lockdown
  // Customers became increasingly interested in animal welfare in the wake of the pandemicWaitrose has recorded a rise in the number of shoppers seeking out organic food and drink in the wake of the Covid-19 lockdown.
  The upmarket grocer said the pandemic led to a growing interest in provenance and animal welfare.
  Research conducted for Waitrose by OnePoll found that searches on Google for its Waitrose Duchy Organic range almost
  
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• The Hut Group: an unusual structure

  27-08-2020 17:06
  Pandemic has boosted valuations of ecommerce groups to levels that are hard to resist
  
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• Delivery Hero/InstaShop: meal deal

  27-08-2020 17:05
  German company buying Dubai-based ecommerce site for $360m
  
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• How will the Ocado deal pan out for M&S?

  27-08-2020 17:01 via retailgazette.co.uk
  After nearly two decades, Ocado is set to part ways with upmarket grocer Waitrose to commence a long-awaited partnership with Marks and Spencer.
  The partnership, which starts at the beginning of September, will see M&S take its first significant step in offering home delivery for its food and grocery business while also having access to Ocado’s technology and delivery logistics.
  To mark its farewell, Waitrose launched a social media marketing campaign earlier this month to raise aware
  
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• Screwfix to create 400 new jobs with 40 store openings

  27-08-2020 15:45 via retailgazette.co.uk
  // Screwfix to open new stores and create up to 400 jobs despite Covid-19 pandemic
  // It will open 30 stores in the UK and 10 in Republic of IrelandScrewfix is set to open 30 new stores across the UK despite the Covid-19 pandemic posing a threat on its trading.
  The DIY giant, owned by Kingfisher, will create around 300 jobs in the UK, and more than 10 new stores are planned for the Republic of Ireland.
  The new openings demonstrate continued growth of the business and a growing demand for conveni
  
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• Primark rolls out greener trucks as part of UK logistics fleet

  27-08-2020 13:26 via retailgazette.co.uk
  // Primark rolls out new energy efficient delivery trailers & gas-powered trucks in its UK logistics operations
  // The greener transport options are part of Primark’s commitment to reduce its environmental impact
  // The new fleet of 15 longer semi trailers will carry twice the volume of stock, meaning 1600 fewer trailer journeys annuallyPrimark has introduced a brand-new fleet of energy efficient delivery trailers and gas-powered trucks to help reduce the environmental impact of its lo
  
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• Hotter given £2m investment as part of CVA

  27-08-2020 12:38 via retailgazette.co.uk
  // Electra, private equity owner of Hotter, invests £2m into the retailer as part of CVA
  // Hotter’s CVA was revealed last month and approved by creditors
  // Hotter will now push on with store closure scheme and digital accelerationThe private equity owner of Hotter is set to pump £2 million into the business as an investment as part of the retailer’s CVA procedure.
  Hotter’s CVA was was approved by 99.5 per cent of creditors in late July, and the period in which len
  
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• Primark launches video game “Primark Legends” where players tidy shelves and mop floors

  27-08-2020 12:12 via chargedretail.co.uk
  
  Primark has launched its very first mobile video game “Primark Legends” where gamers play as a shop assistant at a busy store.
  Primark Legends is a “fast-paced, shop assistant simulator” which challenges gamers to be the perfect team member in “Primark’s first digital shop”.In perhaps the least exciting premises for a video game in history, gamers will have to clean up spills on the shop floor, make repeated trips to the stock room, tidy shelves and help
  
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• Is this the end for America’s mom-and-pop stores?

  27-08-2020 12:00
  For small family businesses already struggling against retail chains and online giants, Covid-19 threatens to be a fatal blow
  
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• Richemont remains “cautious” with cash in light of Covid-19

  27-08-2020 11:30 via retailgazette.co.uk
  // Richemont said it has to be cautious with its cash in light of the ongoing pandemic
  // The group said last month that the crisis had severely disrupted its businessCartier owner Richemont has said it must manage its cash even more carefully this year in light of the Covid-19 pandemic.
  Richemont chairman Johann Rupert said the crisis affected the group’s cash flow, which is why it had to slash its dividend proposal.
  The Swiss luxury group said last month that the Covid-19 pandemic h
  
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• M&S’ Ocado range will be cheaper than Waitrose’s and offer 7 times the amount of booze

  27-08-2020 11:23 via chargedretail.co.uk
  
  Marks & Spencer’s own-brand range on Ocado will be cheaper overall than its rival Waitrose, according to a new report from Which?
  Ocado is due to replace end its 19-year partnership with Waitrose next week and replace more than 4000 of its own-brand items with M&S alternatives.
  While M&S said that it has worked hard to produce a “near-identical” range of goods for Ocado customers, its first ever online offering is set to be cheaper than its predecessor.
  Consumer wat
  
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• Intu SGS secures £30m to take full control of 4 Intu centres

  27-08-2020 10:46 via retailgazette.co.uk
  // Intu SGS secures £30m of new investment and waivers on financial covenants
  // Intu SGS is the holding company for four Intu centresThe holding company for four Intu centres, Intu SGS has secured £30 million of new investment and waivers on financial covenants, after Intu collapsed into administration earlier this year.
  Intu SGS is the holding company for Intu Watford, Lakeside, Victoria Centre in Nottingham and Braehead in Glasgow.
  Creditors have approved of a new super-senior fac
  
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• The Hut Group lists plans for £4.5bn IPO

  27-08-2020 10:04 via retailgazette.co.uk
  // The Hut Group founder and CEO Matthew Moulding plans £4.5 billion stock market float
  // The planned IPO includes a proposed offer of new shares to raise £920 million
  // Moulding could pocket more than £700 million of shares through a bonus schemeThe Hut Group has listed plans for a £4.5 billion stock market float, which could see co-founder, chief executive and executive chairman Matthew Moulding receive one of the biggest payouts.
  The planned IPO includes a proposed o
  
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• The Hut Group lists plans for £4.5 billion IPO

  27-08-2020 10:04 via retailgazette.co.uk
  // The Hut Group founder and CEO Matthew Moulding plans £4.5 billion stock market float
  // The planned IPO includes a proposed offer of new shares to raise £920 million
  // Moulding could pocket more than £700 million of shares through a bonus schemeThe Hut Group has listed plans for a £4.5 billion stock market float, which could see co-founder, chief executive and executive chairman Matthew Moulding receive one of the biggest payouts.
  The planned IPO includes a proposed o
  
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• DFS sells The Sofa Workshop to Timothy Oulton

  27-08-2020 10:02 via retailgazette.co.uk
  // DFS sells The Sofa Workshop to furniture rival Timothy Outlon for £300,000
  // DFS had first acquired The Sofa Workshop in 2013
  // Under Timothy Oulton’s ownership, The Sofa Workshop will be part of the Halo family, which also includes Outlaw and Noble SoulsThe Sofa Workshop has undergone a change of hands, with DFS offloading the furniture fascia to rival Timothy Outlon in a £300,000 deal.
  The Sofa Workshop had been part of the DFS company – which also includes Sofolog
  
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• Lockdown boosts sales & footfall for local corner stores

  27-08-2020 09:35 via retailgazette.co.uk
  // Average number of baskets of items bought between March-July rose 32% at local convenience stores
  // 51% of shoppers said they were planning to continue shopping at their local convenience store
  // 2/3 said their local corner store had everything they needBritish shoppers turned to corner shops during lockdown and many plan to continue using local businesses, new data has shown.
  The average number of baskets of items bought between March and July rose 32 per cent at local convenience stores t
  
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• Coronavirus pushes The Works into the red

  27-08-2020 09:24 via retailgazette.co.uk
  // The Works swings to £18m loss after “significant” coronavirus impact
  // Adjusted pre-tax profit nose dived 65.2% to £2.4m, while EBTIDA dropped 22.3% to £10.8m
  // Revenue grew 3.5% & like-for-likes increased 0.67%, but these were slower than the growth recorded in 2019The Works has swung to a pre-tax loss on the back of a dramatic slowdown in full-year sales and like-for-likes amid the “significant impact” of the coronavirus pandemic.
  The discount
  
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• Waitrose says lockdown increased customers’ taste for organic

  27-08-2020 01:00 via theretailbulletin.com
  
  Waitrose has noticed that more shoppers are seeking out organic food and drink after the Covid-19 lockdown led to a  growing interest in provenance and animal welfare. The... View Article
  
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• Urban Outfitters boosted by strong online sales

  27-08-2020 01:00 via theretailbulletin.com
  
  Urban Outfitters, the owner of the Anthropologie, Free People and Urban Outfitters retail brands, has reported that total sales dropped by 16.5% to $803 million in its second quarter.... View Article
  
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• The Works swings to full year loss

  27-08-2020 01:00 via theretailbulletin.com
  
  The Works has swung to a pre-tax loss in the year to 26 April after being hit by the “significant impact” of Covid-19 in the last few... View Article
  
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• Screwfix to create over 400 new jobs

  27-08-2020 01:00 via theretailbulletin.com
  
  Screwfix is to create more than 400 jobs by the end of January 2021 through the opening of 40 new stores across the UK and the Republic of Ireland.... View Article
  
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• New Look asks landlords to move to turnover based rents

  27-08-2020 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
  
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• J. Crew to exit bankruptcy in early September

  27-08-2020 01:00 via theretailbulletin.com
  
  US fashion retailer J. Crew has gained approval from a bankruptcy court in the state of Virginia for its restructuring plan. As a result, the company expects to... View Article
  
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• Duncan Tatton-Brown to step down as Ocado CFO

  27-08-2020 01:00 via theretailbulletin.com
  
  Online grocer Ocado has announced that Duncan Tatton-Brown has decided to step down as the company’s chief financial officer. He has held the role for eight years and... View Article
  
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• DFS to sell Sofa Workshop brand to Halo

  27-08-2020 01:00 via theretailbulletin.com
  
  DFS has entered into an agreement to sell its Sofa Workshop business to luxury furniture group Halo. The company said the deal is subject to regulatory approval from the FCA which... View Article
  
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• Birmingham’s Bullring signs up Treetop Adventure Golf

  27-08-2020 01:00 via theretailbulletin.com
  
  Treetop Adventure Golf has signed up to take a 25-year lease on the former Forever 21 store at Hammerson’s Bullring shopping centre in Birmingham. Due to open... View Article
  
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