Retail news

• The pandemic purse: services suffer while Australians spend up on home-cooking and liquor

  12-09-2020 22:00 via theguardian.com
  
  Over all Australians are spending less money, but analysts say the post-Covid states show this could quickly changeAustralians are splurging on electronics, home cooking and perhaps unsurprisingly, liquor, during the coronavirus pandemic.With overseas holidays, opportunities to go out, and the daily costs of the office commute all gone, people are using their new-found discretionary cash on a raft of items. Related: The long shadow of the virus means there is no easy path back to prosperity | Ge
  
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• Sir Terence Conran obituary

  12-09-2020 18:29 via theguardian.com
  
  Designer, entrepreneur and restaurateur who transformed British taste through his passion for the importance of everyday thingsTerence Conran, who has died aged 88, did more than anyone to enhance material life in Britain during the second half of the 20th century. Like John Lennon and David Bowie in their rather different ways, escape from suburban norms was his continuing inspiration.He had a brilliant eye, good taste, the zealous energy of a messiah, entrepreneurial flair, humour and great ch
  
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• Terence Conran, designer, retailer and restaurateur, dies aged 88

  12-09-2020 14:08 via theguardian.com
  
  Founder of Habitat passed away peacefully at home on Saturday, his family saySir Terence Conran, the designer, retailer and restaurateur who “revolutionised the way we live in Britain” has died.Conran, who was 88, passed away peacefully on Saturday in his Barton Court home, his family announced. Continue reading...
  
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• Gov’t criticised over plans to end some tax-free sales at airports

  12-09-2020 13:03 via retailgazette.co.uk
  // Treasury to extend duty-free shopping to British passengers travelling to the EU
  // However, it will end tax-free sales in airports of electronics and clothing for passengers travelling to non-EU countries
  // Follows concerns that tax-free goods were being brought back by UK residents, putting retailers at a disadvantageThe government has been criticised over plans to end tax-free sales on goods such as electronics and clothes at airports, after the UK leaves the EU.
  The Treasury on Friday an
  
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• New Look to warn it could collapse without fresh rent cuts

  12-09-2020 13:00
  Retailer set for showdown with landlords as it attempts a second insolvency process
  
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• Mike Ashley’s Frasers Group unveils £100m incentive for staff

  12-09-2020 12:47 via retailgazette.co.uk
  // Frasers Group reveals performance reward plan to reward the 1000 highest-ranked staff
  // It places staff in line for a share of a £100m payout, if shares rise above £10 in the next four yearsFrasers Group has reportedly unveiled a new incentive scheme that places its staff in line for a share of a £100 million payout.
  According to The Times, the Mike Ashley-owned retail company is putting forward a resolution before its AGM on October 7 for an award plan for staff who have e
  
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• Debenhams puts its Magasin du Nord business up for sale

  12-09-2020 11:59 via retailgazette.co.uk
  // Debenhams’ owners are reportedly mulling sale of Magasin du Nord, its Danish business
  // The sale, in its early stages, could generate between £150m-£200m for Debenhams’ owners
  // Mike Ashley’s Frasers Group has reportedly its interest in buying Magasin du NordDebenhams’ owners are reportedly mulling a separate sale process for Magasin du Nord, the department store chain’s Danish business.
  According to The Times, the early stages of an auction pr
  
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• TK Maxx overtakes Topshop in UK despite Covid crisis

  12-09-2020 09:11 via theguardian.com
  
  Bargain chain, which snaps up other retailers’ extra stock, takes sixth slot in British fashion marketIt has quietly outgrown Topshop to become the UK’s sixth-largest fashion group. Now TK Maxx is hoping a glut of unsold clothing from rivals will further boost its fortunes.The cut-price US-owned retail group sells an eclectic mix from a Moschino-collared jacket at £99.99, to a Gucci handbag at nearly £1,000 and Sloggi knickers at £2.99. It may only stock one or two
  
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