Retail news

• Almost 125,000 UK retail jobs lost so far this year, study estimates

  09-09-2020 20:15
  
  Research group says high street chains account for more than 92,900 of the job lossesNearly 125,000 retail jobs have been lost in the UK in the first eight months of this year, according to a fresh estimate, as major chains including Debenhams, Marks & Spencer joined independents in shutting stores.As many as 13,867 shops have closed permanently, including thousands of small stores employing 32,598, the Centre for Retail Research (CRR) said.Pizza Express – 1,100 jobs
  7 September: The r
  
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• LVMH/Tiffany: French bleat

  09-09-2020 19:54
  Luxury group’s chief Bernard Arnault is no stranger to knife-edge tactics
  
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• Edinburgh Woollen Mill brands approached by “interested parties”

  09-09-2020 17:44 via retailgazette.co.uk
  // Philip Day’s Edinburgh Woollen Mill Group is mulling a sale of some of its brands
  // The retail group has seen the interest come from international strategic investorsEdinburgh Woollen Mill Group (EWM) has seen some of its heritage brands approached by a number of interested buyers.
  The group, owned by billionaire Philip Day, has seen the interest come from international strategic investors – including parties based in China, which remains unsolicited.
  EWM’s brand portfolio
  
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• Middle East funds in talks to buy stakes in Ambani’s Reliance Retail

  09-09-2020 17:22
  Abu Dhabi Investment Authority and Saudi Arabia’s PIF locked in discussions over investments
  
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• How will a digital London Fashion Week pan out this month?

  09-09-2020 16:58 via retailgazette.co.uk
  London Fashion Week has been serving fashion lovers and designers new collections for over three decades, and retailers have been attempting to capitalise from the buzz that the event brings with it.
  The bi-annual event, regarded as one of the biggest fashion events in the world, will be taking place from September 18 to September 22 with Burberry kicking off proceedings with a live stream.
  With thousands of events having been cancelled this year due to the Covid-19 pandemic, London Fashion Wee
  
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• Tiffany & Co to file lawsuit after LVMH exits £12bn takeover deal

  09-09-2020 16:30 via retailgazette.co.uk
  // LVMH calls off £12.41 billion mega-merger with Tiffany & Co
  // Tiffany & Co files lawsuit against LVMH for not closing the transactionTiffany & Co is suing Bernard Arnault’s French luxury conglomerate LVMH after it called off its proposed $16.2 billion (£12.41 billion) acquisition of US jeweller Tiffany & Co.
  LVMH cited “recent developments” including a request from France’s Foreign Affairs Ministry to delay past the deal’s closing dea
  
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• Tiffany sues LVMH for scrapping $16m takeover

  09-09-2020 16:13
  
  Luxury group says it cannot go ahead with buyout of jeweller, blaming ‘succession of events’A legal battle has broken out between two of the world’s biggest luxury goods groups after LVMH ditched its planned $16.2bn (£12.5bn) takeover of the New York jeweller Tiffany.Bernard Arnault’s luxury goods empire, which owns brands such as Louis Vuitton, Dior and Moët & Chandon, said it could not go ahead with the the acquisition because it had been undermined by a
  
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• Tiffany sues LVMH for scrapping $16bn takeover

  09-09-2020 16:13
  
  Luxury group says it cannot go ahead with buyout of jeweller, blaming ‘succession of events’A legal battle has broken out between two of the world’s biggest luxury goods groups after LVMH ditched its planned $16.2bn (£12.5bn) takeover of the New York jeweller Tiffany.Bernard Arnault’s luxury goods empire, which owns brands such as Louis Vuitton, Dior and Moët & Chandon, said it could not go ahead with the the acquisition because it had been undermined by a
  
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• Amazon under fire after paying just £293m in UK tax on sales of £14bn

  09-09-2020 15:46 via chargedretail.co.uk
  
  The world’s largest retailer paid just £293 million in UK tax last year, despite bringing in sales of almost £14 billion.
  Amazon’s tax payment represented a 33.2 per cent increase on its £220 million payment in 2018, with Amazon stating its corporation tax payment this year was reduced as a result of increased capital spending, as well as costs relating to research and development.
  READ MORE: UK government denies it plans to scrap £500m ‘Amazon Tax&
  
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• High street bloodbath sees 125,000 job cuts since start of 2020

  09-09-2020 13:25 via retailgazette.co.uk
  // A staggering 125,515 retail jobs have been cut &13,867 shops shuttered for good since the start of the year, new data shows
  // Equates to nearly 15,700 job cuts each and every month
  // Job losses at small retailers total 32,598 while retailers with 5 or more stores shed 92,917 jobs between Jan-AugMore than 125,000 jobs in the UK retail sector have been lost in the first eight months of 2020 – far higher than previous estimates, new data shows.
  According to analysis by the Centre for
  
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• Freemans scraps catalogue and rebrands as a “digital department store”

  09-09-2020 11:50 via retailgazette.co.uk
  // Freemans to rebrand its offering and transform into a “vibrant digital department store”
  // Freemans CCO Richard Cristofoli said the new branding will put product at “the heart of the proposition”Freemans has relaunched its offering with a new marketing campaign in an effort to reposition as a “vibrant digital department store”.
  The online retailer, owned by Otto, has relaunched the new offering across its website and app, and will be promoted on socia
  
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• Klarna in talks with investors over $10bn valuation

  09-09-2020 11:34 via chargedretail.co.uk
  
  Klarna is said to be in talks with investors for a new round of funding which would value the Swedish payments company at more than $10 billion, according to Reuters.
  Citing three sources, Reuters reported Klarna now has expansion into the US in its sights, which is on track to become its largest market.
  READ MORE: Klarna launched new app with personalised content, deal notifications and wish lists
  The “buy now, pay later” specialist plans to raise just over $500
  
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• Quiz secures more flexible leases since property arm administration

  09-09-2020 10:50 via retailgazette.co.uk
  // Quiz wins more flexible leases since stores went into administration
  // Quiz had 75 standalone branches across the UKQuiz has secured more flexible leases after its property arm fell into administration in June, resulting in 93 redundancies.
  The fast fashion retailer witnessed a drop in sales after the Covid-19 pandemic affected its trading.
  Quiz had 75 standalone branches across the UK, but has so far reopened 48 and expects to continue trading from 60.READ MORE:Quiz doubles banking faciliti
  
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• New Look fails to attract interest in sale ahead of CVA deadline

  09-09-2020 10:17 via retailgazette.co.uk
  // New Look says sale process failed after deadline for offers passed with no progress
  // It is now relying on the support of creditors to approve its CVA proposals to secure its futureNew Look’s future is now relying upon the support of creditors and landlords supporting its CVA proposals after a sale process failed to attract bids from potential buyers.
  The fashion retailer had cavassed interest in a sale of the business last month in conjunction with a CVA proposal in a bid to secure it
  
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• Government launches new trade measures to support Covid-hit retailers

  09-09-2020 10:03 via retailgazette.co.uk
  // Exports Minister Graham Stuart MP reveals new measures to support businesses in the retail industry
  // The Department for International Trade will launch a new Consumer and Retail Export AcademyThe UK’s Exports Minister, Graham Stuart MP, has announced a series of new measures to support businesses in the consumer and retail industry to export overseas post-Covid.
  The new measures will offer support to the retail sector by ensuring specialists provide advice on online retail and interna
  
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• Fortnum & Mason CEO Ewan Venters to step down

  09-09-2020 09:30 via retailgazette.co.uk
  // Fortnum & Mason CEO Ewan Venters steps down after eight years in the role
  // He will leave the luxury department store & food retailer next year for the top job at art gallery Hauser & Wirth
  // The recruitment process for a new chief executive is already underwayFortnum & Mason has revealed that its chief executive Ewan Venters is poised to resign and leave his role in the new year.
  Venters, who has been chief executive of the luxury department store and food retailer sin
  
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• Selfridges MD Anne Pitcher wins prestigious business award

  09-09-2020 09:17 via retailgazette.co.uk
  // Selfridges managing director Anne Pitcher wins prestigious Veuve Clicquot’s Bold Woman Award
  // Judges praised her for achieving “significant” financial success & championing female representationA woman who started her career in a Saturday job in a shop as a 16-year-old and is now managing director of Selfridges has won a prestigious business award.
  Anne Pitcher has won Veuve Clicquot’s Bold Woman Award, following a lifelong career in the retail industry.
  Judges p
  
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• Iceland creates 3000 new jobs amid online boom

  09-09-2020 08:59 via retailgazette.co.uk
  // Iceland hires 3000 new workers as online business booms
  // It says online orders surged by more than 300% since April
  // The new jobs include extra delivery drivers & more staff in stores for picking online ordersIceland has created 3000 new jobs to cope with the surge in demand for online groceries since the lockdown in March, the grocer said.
  Bosses revealed that online orders surged by more than 300 per cent since April as shoppers rushed to book delivery slots and all non-essential re
  
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• My First Million: Ben Revell, founder Winebuyers.com

  09-09-2020 06:00
  The online market for wine exploded after announcement of lockdown
  
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• Wickes owner Travis Perkins posts drop in sales and profit

  09-09-2020 01:00 via theretailbulletin.com
  
  Travis Perkins has posted a drop in both sales and profits in the six months to 30 June. The news follows the company’s June announcement that... View Article
  
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• Whittard launches new corporate gifting proposition

  09-09-2020 01:00 via theretailbulletin.com
  
  Whittard of Chelsea has launched a range of corporate gifts and Christmas-themed gift boxes and hampers. The collection ranges from small token gifts to extravagant wicker hampers packed with tea, coffee... View Article
  
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• The Chuckling Cheese Company takes permanent store at Intu Merry Hill

  09-09-2020 01:00 via theretailbulletin.com
  
  A new store specialising in artisan cheese has opened at Intu Merry Hill following a successful year occupying a kiosk at the centre. The Chuckling Cheese Company sells a... View Article
  
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• The 5 fundamentals of “Best-in-Class” Ecommerce personalization

  09-09-2020 01:00 via theretailbulletin.com
  
  Coveo guest post: Ecommerce personalization has become the north star for customer-centric companies. Why? The reason is simple – personalized digital experiences engender greater emotional engagement by... View Article
  
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• Retail in Transition: A Framework for Data-centric Innovations

  09-09-2020 01:00 via theretailbulletin.com
  More than most industries, retail has been disrupted by a shift to digital. Further, the challenge of meeting consumers’ rapidly changing preferences and expectations has only... View Article
  
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• LVMH appoints new CEO for Sephora

  09-09-2020 01:00 via theretailbulletin.com
  
  Luxury group LVMH has appointed Martin Brok as the new president and chief executive of Sephora. He will take up his new position on 14 September... View Article
  
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• London Designer Outlet welcomes Police and NICCE

  09-09-2020 01:00 via theretailbulletin.com
  
  London Designer Outlet in Wembley Park has signed up Police and NICCE in deals that were mostly negotiated during the coronavirus lockdown. Police is taking a 1,800 square... View Article
  
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• Amazon UK pays 3% more in tax despite 35% rise in profits

  09-09-2020 00:00
  
  Online retail giant says potentially higher corporation tax bill was offset by infrastructure investmentsAmazon’s key UK business paid just 3% more tax last year when profits rose by more than a third as the online retailer benefited from the switch to home shopping.The group’s warehouse and logistics operation, which employs more than two-thirds of its 30,000-plus UK workforce, Amazon UK Services, said its corporation tax contribution was £14.46m in 2019, up from £14.03m
  
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