Retail news

• Softbank's $4bn profit on US tech bets hasn't impressed investors | Nils Pratley

  07-09-2020 20:22
  
  Masayoshi Son looks like a gambler on a lucky streak so it’s no wonder shares in his firm were down 7%Would you trust Masayoshi Son, the man who did so much to promote and finance the WeWork silliness, to take huge short-term punts on your behalf on the value of US technology stocks?Retail shareholders in Softbank, the Japanese firm founded and led by Son, clearly do not. Softbank’s value fell by almost $9bn (£6.8bn), or 7%, on the Tokyo market on Monday after the company was r
  
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• Food industry in England urged to trim 20% of calories by 2024

  07-09-2020 19:35
  
  Restaurants, takeaways and ready meals all affected, but anti-obesity campaigners say target should be compulsoryThe number of calories found in pizzas, chips, crisps and other unhealthy foods beloved by Britons must be cut dramatically to help the fight against obesity, the government has declared.Cafes, fast food takeaways and restaurants have been told to reduce the calorific content of the goods they sell by 20% by 2024, given their key role in fuelling the obesity epidemic. Related: Years o
  
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• Food industry in England told to trim 20% of calories by 2024

  07-09-2020 19:35
  
  Restaurants, takeaways and ready meals all affected but anti-obesity campaigners say target should be compulsoryThe number of calories found in pizzas, chips, crisps and other unhealthy foods beloved by Britons must be cut dramatically to help the fight against obesity, the government has declared.Cafes, fast food takeaways and restaurants have been told to reduce the calorific content of the goods they sell by 20% by 2024, given their key role in fuelling the obesity epidemic. Related: Years of
  
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• Morrisons supermarket chain takes on thousands of new staff

  07-09-2020 19:26
  
  Bradford-based retailer expands online delivery service and in-store cleaning
  Morrisons is hiring thousands more permanent staff as it expands its online delivery service and steps up in-store cleaning, building on a dramatic workforce expansion since the pandemic took hold.The Bradford-based supermarket chain, which employed about 97,000 workers at the start of the year, hired 45,000 extra staff after the coronavirus crisis hit the UK. Continue reading...
  
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• Primark shows shopping is having a retail-park revival

  07-09-2020 18:40
  Unglamorous outlets trump flagship shops; ISS tries to bring airline bosses’ bonuses to ground
  
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• Pentland Brands makes round of promotions as new CEO steps in

  07-09-2020 18:02 via retailgazette.co.uk
  // Pentland Brands welcomes new CEO as Andy Long shifts to parent company as director
  // COO and deputy CEO Chirag Patel has been promoted to CEO
  // Patel will join office from January 1Pentland Brands has reportedly promoted its chief operating officer and deputy chief executive Chirag Patel to the role of chief executive.
  Patel will replace Andy Long, who is moving to its parent company Pentland Group as a director.
  He will take over from Long from January 1, Drapers reported.READ MORE: 3
  
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• Fruit & veg purchases to be rewarded with bonus Nectar points, Sainsbury’s says

  07-09-2020 17:21 via retailgazette.co.uk
  // Sainsbury’s to reward bonus Nectar points to those who increase their fruit and veg intake
  // The grocer has set personalised targets based on a users’ typical shopping habits
  // The initiative will be in place from September 7 to October 4Sainsbury’s will encourage customers to stock up on fruit and vegetables by allowing their Nectar points balance go further with a brand-new tracker available on the app and website.
  The grocer launched the initiative titled ‘The Gre
  
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• Unsung Hero: Scott Ward, Retail Operations Manager, Central England Co-op

  07-09-2020 16:50 via retailgazette.co.uk
  After spending 25 years at Central England Co-op, Scott Ward wanted a brand new challenge
  Having worked his way up with the grocer, starting out as a part time employee at 16 to his current role as a regional operations manager, he recently embarked on a level 5 operational/departmental manager apprenticeship.
  “I have a belief to constantly better myself,” he told Retail Gazette.
  “I was aware of the scheme previously and wanted to participate to increase my knowledge and learn
  
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• Charles Wilson resigns as CEO of Tesco’s Booker wholesale arm

  07-09-2020 16:27 via retailgazette.co.uk
  // Charles Wilson to step down as CEO of Tesco’s Booker wholesale business
  // He will be replaced by Andrew Yaxley, who currently Tesco chief product officer, immediately
  // Wilson’s resignation follows Tesco CEO Dave Lewis & CFO Alan Stewart’s resignations earlier this yearTesco has said that Charles Wilson, the boss of its Booker wholesale business, is to leave the retail giant – following its two top executives out the door.
  Earlier this year, Tesco group chief exe
  
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• Amazon appoints fashion VP John Boumphrey as new UK boss

  07-09-2020 15:56 via chargedretail.co.uk
  
  Amazon UK has appointed John Boumphrey as its new head of operations, set to succeed Doug Gurr when he steps down in November.
  In June it was announced that Gurr, who has acted as Amazon UK’s country manager since 2016, was leaving the company to join the Natural History Museum.
  Amazon has now revealed that he will be replaced by current vice-president of Amazon Fashion Europe Boumphrey, according to the Evening Standard.
  Boumphrey has held various positions at Amazon over a career sp
  
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• Primark: UK city centres 'not dead' despite Covid crisis

  07-09-2020 13:55
  
  Sales at central London, Birmingham and Manchester stores have fallen to half last year since they reopenedCity centres are “not remotely dead” according to Primark, even though sales at its four largest stores in central London, Birmingham and Manchester have slumped to half last year’s level since they reopened.The budget clothing chain said customers had flocked back to its shops in retail parks since the high street lockdown ended in July, with trading better than expected,
  
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• Meagre rise in weekly footfall as workers return to offices

  07-09-2020 13:41 via retailgazette.co.uk
  // UK footfall edges up 0.4% as office workers return, Central London down 50.9% year-on-year
  // High street weekly footfall grew 2.6%, but retail parks down 0.9% & shopping centres down 2.7%Overall footfall increased by just 0.4 per cent last week compared to the previous seven days, as more workers returned to their offices in town centres.
  According to Springboard weekly footfall monitor, high streets, where many offices are located, saw a 2.6 per cent uptick week-on-week.
  Footfall to ret
  
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• PizzaExpress secures backing for rescue that will cut 1,100 jobs

  07-09-2020 13:30
  Landlords approve restructuring that will close 73 restaurants
  
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• Etsy shares jump 6% after its surprise induction to the S&P 500

  07-09-2020 12:33 via chargedretail.co.uk
  
  Etsy saw its share prices jump six per cent on Friday after it was unexpectedly added to the coveted S&P 500.
  The online marketplace was one of three US companies S&P Dow Jones said it would add to its indices later this month.
  The S&P 500 is one of the most important stock market indices in the world, and is considered a key benchmark for the US’ largest companies with more than $11.2 trillion investments indexed or benchmarked to its performance.
  Etsy’s surprise inclusi
  
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• Dixons Carphone to offer 24-hour shopping

  07-09-2020 11:43 via retailgazette.co.uk
  // Dixons Carphone to strengthen its ShopLive initiative
  // ShopLive connects online shoppers with in-store colleagues
  // Dixons Carphone has served around 340,000 customers over the last five monthsDixons Carphone has said it is seeking to bolster its ShopLive offering to include extended operating hours, bookable appointments and livestream shopping.
  ShopLive, which was launched earlier this year, connects online shoppers with in-store colleagues to allow them to view demonstrations of product
  
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• Tesco teams up with charity to help cut food waste

  07-09-2020 10:50 via retailgazette.co.uk
  // Tesco to help shoppers cut food waste
  // The new project is in partnership with environmental charity HubbubTesco has reportedly asked its shoppers to weigh their food bins in an effort to help cut food waste.
  The Big 4 grocer is leading a six-week project in partnership with environmental charity Hubbub to help families receive advice on meal planning and food storage along with recipe tips for using up leftovers, The Guardian reported.
  Tesco shoppers have been asked to look though their bin
  
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• Iceland lands discount deal in £50m supermarket buyout

  07-09-2020 10:00 via retailgazette.co.uk
  // Iceland comes to an agreement with Brait over the purchase of a stake
  // Iceland founder and CEO bought out the South African conglomerate’s 63% stake in the frozen food retailer for £115mIceland founder Malcolm Walker has reportedly bagged a discount deal with investment holding company Brait.
  Brait has agreed to cut the sum it receives from the sale of Iceland in return for early payment, Sky News reported.
  The deal consists of a £50 million buyout which comes with million
  
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• Morrisons slashes prices on 400+ essential products

  07-09-2020 09:58 via retailgazette.co.uk
  // Morrisons wades into grocery price wars as recession begins to bite
  // It is cutting prices by an average of 23% on 400 essential products,Morrisons is set to slash the price of hundreds of products, making it the latest grocer to wade into the price war as the grocery sector feels the bite of recession.
  Over the weekend Big 4 giant said it would cut prices by an average of 23 per cent on 400 essential products, including fruit and vegetables, meat, poultry, bread, breakfast cereal, rice, toi
  
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• Primark says UK market share has risen after Covid lockdown

  07-09-2020 09:33
  
  Retailer says spending is recovering, with nightwear and leisure wear selling wellThe budget clothing chain Primark has said its UK market share has increased after customers flocked back since it reopened all its stores, with trading better than expected.Primark, owned by Associated British Foods, said customer spending on clothes, footwear and accessories had been recovering since hitting a low point in April during the Covid-19 lockdown when all its stores were closed. It reopened all 153 sto
  
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• Deadline looms for Asda takeover bids

  07-09-2020 09:33 via retailgazette.co.uk
  // Private equity firms have until today to make takeover offers for Asda
  // Apollo & Lone Star are the front runners in preparing takeover offers for the Walmart-owned grocery chainAsda could potentially have a change of hands as early as this week, a private equity firms scramble to finalise their takeover bids for the Big 4 grocer ahead of today’s deadline.
  According to The Telegraph, Apollo Global Management and rival Lone Star Funds are preparing takeover offers for £6.
  
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• Primark sales beat expectations since exiting lockdown

  07-09-2020 09:18 via retailgazette.co.uk
  // AB Foods issues pre-close update to say it expects Primark to report around £2bn in full year sales
  // Sales driven by larger customer baskets with transaction sizes initially “significantly higher” than last year due to “pent-up demand”
  // Earlier-than-expected reopening of stores means it now expects to book a £150m hit from unsold inventory, instead of £284mThe parent company of Primark has said that sales at the high street retailer have beaten ex
  
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• Primark full-year profits on course to top forecasts

  07-09-2020 09:11
  Discount fashion chain now has higher share of UK sales than before pandemic
  
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• Primark full-year profits on course to top forecast

  07-09-2020 09:11
  Discount fashion chain will write back part of inventory provision
  
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• Seasalt opens new sustainable concept store

  07-09-2020 01:00 via theretailbulletin.com
  
  Seasalt Cornwall has opened a new sustainable concept store in Norwich. The shop is the first to feature Seasalt’s new retail design concept and has also helped to increase its sustainable... View Article
  
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• Sainsbury’s teams up with FareShare on online donation scheme

  07-09-2020 01:00 via theretailbulletin.com
  
  As an extension of its in-store food donation programme, Sainsbury’s is now allowing customers to make online donations to the FareShare food waste and hunger charity as part... View Article
  
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• Primark boosted by strong fourth quarter

  07-09-2020 01:00 via theretailbulletin.com
  
  Associated British Foods has said trading at its Primark fashion chain has exceeded expectations in its fourth quarter. In a pre-close trading update for the year to... View Article
  
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• Piper invests in Wattbike

  07-09-2020 01:00 via theretailbulletin.com
  
  The Piper private equity company is to invest £11.5 million in smart indoor bike brand Wattbike. Founded in Nottingham in 2007 by former world champion rower Ian Wilson... View Article
  
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• Morrisons cuts prices of 400 grocery essentials

  07-09-2020 01:00 via theretailbulletin.com
  
  Morrisons has cut the price of over 400 of its most popular items due to family budgets being increasingly under pressure this autumn. The supermarket said the move... View Article
  
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• eBay appoints general manager for UK

  07-09-2020 01:00 via theretailbulletin.com
  
  eBay has promoted Murray Lambell to the position of general manager of its UK business. Lambell has worked with eBay since 2008 and was previously the company’s... View Article
  
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• Christmas comes early at Central England Co-op

  07-09-2020 01:00 via theretailbulletin.com
  
  Christmas has come early at Central England Co-op due to mince pies and Christmas puddings going on sale now  to meet customer demand. The retailer  has begun rolling out the ... View Article
  
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• Aldi to roll out cardboard packaging across steak range

  07-09-2020 01:00 via theretailbulletin.com
  
  Aldi has said it will be rolling out cardboard packaging across its entire steak range from next month. Sourced from responsibly managed forests, the new packaging... View Article
  
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