Retail news

• John Lewis could convert almost half its Oxford Street store into offices

  16-09-2020 19:05
  
  Plans filed with Westminster council come as retailer battles to stem lossesJohn Lewis is considering a massive reduction in retail space at its London flagship store by converting some floors into offices.The staff-owned department store has applied for planning permission to switch over as many as three floors of its Oxford Street building – which currently houses children’s, electrical goods, kitchen and bathroom departments as well as a dining area – to office space for ren
  
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• Fashion retailer Inditex returns to profit

  16-09-2020 18:07
  Sales at Zara owner show steady improvement since April low
  
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• What are grocers doing to tackle food poverty?

  16-09-2020 17:53 via retailgazette.co.uk
  Between April 1 last year and March 31 this year, food bank charity The Trussell Trust distributed 1.9 million three-day emergency food supplies to people in crisis, marking an 18 per cent increase on the previous year. And that full year period only factored in the early stages of the pandemic-induced lockdown.
  Meanwhile, the Child Poverty Action Group revealed last month that the Covid-19 pandemic has left 80 per cent of low-income families in a worse financial position than before the crisis
  
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• US retail sales slowdown points to effect of stimulus withdrawal

  16-09-2020 17:37
  The deceleration in spending in August caught economists by surprise
  
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• US retail sales growth lost steam in August

  16-09-2020 17:37
  Economists fret over absence of new stimulus after expiry of enhanced unemployment benefits
  
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• Charles Tyrwhitt team up with England Rugby

  16-09-2020 17:33 via retailgazette.co.uk
  // Charles Tyrwhitt strikes 4-year partnership with England Rugby
  // The retailer will create bespoke clothing for the squad as well as sell limited editions in storesCharles Tyrwhitt has announced a four-year partnership with England Rugby, becoming their official formalwear partner starting this month.
  As part of the partnership, the menswear retailer will collaborate with England Rugby to tailor an exclusive collection of bespoke formalwear to dress the men’s and women’s senior sq
  
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• Inditex/H&M: stock and awe

  16-09-2020 17:13
  Both European companies are well placed to benefit if retail spending holds up
  
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• Retailers protected from evictions until 2021 as gov’t extends ban

  16-09-2020 17:10 via retailgazette.co.uk
  // Government extends ban on property evictions, which includes retail
  // The moratorium was first introduced in April and was due to expire at the end of SeptemberThe UK Government has announced it is extending support to stop business evictions until the end of 2020.
  Measures were put in place at the start of the pandemic to protect struggling firms – such as retailers and restaurants – from being evicted from premises, but were due to expire at the end of September.
  Communities Se
  
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• Zara owner Inditex back in the black amid online sales jump

  16-09-2020 15:56 via retailgazette.co.uk
  // Inditex books net profit of €214m in Q2, compared to net loss of €409m in Q2
  // However, Inditex’s first half overall was still loss-making, with a net loss of €195m
  // Inditex said total half-year sales reached €8bn, a 37% year-on-year decline, but sales are continuing to improveInditex has returned to profitability in its second quarter after the pandemic-linked lockdowns saw it swing to a massive loss in the previous quarter.
  For its second quarter from May to Jul
  
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• Amazon launches exclusive invite-only high-end fashion platform “Luxury Stores”

  16-09-2020 15:17 via chargedretail.co.uk
  
  Amazon has launched a new invite-only “Luxury Stores” platform on its mobile app as it continues to try and establish a foothold in the luxury fashion market.
  Luxury Stores is only available to eligible Prime members who have been extended invites from the ecommerce giant, which says it will issue invites to more shoppers over time.
  Luxury fashion house Oscar de la Renta is currently the only brand available via its new platform, but Amazon says further partnerships will be announced
  
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• Lidl sets ambitious new targets in its war on plastic

  16-09-2020 15:02 via retailgazette.co.uk
  // Lidl GB commits to a diverse range of ambitious new goals to reduce plastic waste
  // Targets include a 40% reduction in own-label plastic packaging by 2025
  // There is also a commitment to reduce the total amount of own-label packaging by 25% by 2025Lidl has announced ambitious new targets in plastic and packaging reduction as part of its strategy to eliminate plastic waste despite the challenges posed by Covid-19.
  Among the targets includes commitment to reducing own-label plastic packaging,
  
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• 124 jobs at risk as Waitrose plans 3 store closures

  16-09-2020 14:10 via retailgazette.co.uk
  // Waitrose plans to close down 3 shops in December, affecting 124 staff
  // The shops are located in Caldicot, Ipswich Corn Exchange and Shrewsbury
  // A 4th shop in Wolverhampton will be sold to Tesco, with 140 staff to be transferredWaitrose has announced plans to shut down three shops later this year while selling off a fourth site to Tesco.
  The closure of the three stores, located in Caldicot, Ipswich Corn Exchange and Shrewsbury, places 124 staff at risk of redundancy.
  Meanwhile, the 140 sta
  
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• Waitrose to close four more supermarkets, putting 124 jobs at risk

  16-09-2020 14:00
  
  Caldicot, Ipswich Corn Exchange and Shrewsbury to shut, with Tesco taking over Wolverhampton siteWaitrose is to close another four of its 335 supermarkets as the staff-owned group prepares for an overhaul under new management.Stores in Caldicot, Ipswich Corn Exchange and Shrewsbury will close, putting 124 jobs at risk. Another 140 roles in Wolverhampton will transfer to Tesco, which is taking over the site. Related: Waitrose enlists Deliveroo to help take on M&S and OcadoContinue reading...
  
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• Amazon paid just £6.3m in UK corporation tax last year despite £13.55bn in sales

  16-09-2020 11:56 via chargedretail.co.uk
  
  Amazon paid just £6.3 million in corporation tax in the UK last year, despite raking in more than £13 billion in sales.
  The online retail giant has sparked yet more tax controversy today after it was revealed that only a fraction of the £293 million it paid in UK tax last year was corporation tax.
  Last week Amazon announced that it had paid 33.2 per cent more tax in the UK throughout 2019 compared to a year earlier.
  However figures released today showed that just £6.3 mil
  
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• Hut Group shares jump in value by quarter on first stock market day

  16-09-2020 10:28
  
  Biggest London stock market debut since 2013 nets company £920mShares in the Hut Group have jumped in value by a quarter at the start of trading on their first day on the stock market in a signal of strong investor demand for the British e-commerce company.The company announced at the start of the month that it would float its shares on the London Stock Exchange, with an offer price of 500p per share that valued it at £4.5bn. Related: Retail veterans could cash in on £4.5bn Hut
  
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• Zara owner Inditex reaches ‘turning point’ from coronavirus slump

  16-09-2020 10:15
  Sales improved markedly over summer months as clothing retailer posts €214m second-quarter profit 
  
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• Children’s letters prompt Lego to remove plastic packaging

  16-09-2020 09:54 via retailgazette.co.uk
  // Lego to phase out plastic packaging from next year
  // The toy retailer was prompted after receiving children’s letters requesting it to ditch plastic
  // Over £310 million will be invested in its packaging over the next three yearsLego will reportedly begin removing plastic packaging from next year in an effort to keep up with consumers’ sustainable shopping habits.
  The toy retailer said it would begin shifting to recyclable paper packaging for its products after receiving le
  
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• Eat Out To Help Out pushes inflation down to lowest level since 2015

  16-09-2020 09:31 via retailgazette.co.uk
  // Inflation fell to 0.2% in August as Eat Out To Help Out pushed down prices
  // Government figures showed more than 100 million meals were claimed for under the scheme
  // Muted clothing price rises also added to the declineThe Eat Out To Help Out scheme has pushed down prices as inflation fell to 0.2 per cent last month, according to new research.
  It marked the lowest level of Consumer Price Index (CPI) inflation since December 2015, as well as a sharp drop from the one per cent rate recorded i
  
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• Sainsbury’s offers Nectar points on Argos purchases for first time

  16-09-2020 09:08 via retailgazette.co.uk
  // Sainsbury’s is offering Nectar points to Argos customers for the first time
  // The points will be doubled if purchases are made between September 18 and September 26Sainsbury’s is now offering its customers Nectar points when shopping for Argos products for the first time.
  The grocer, which acquired Argos in 2016, said Nectar card members would be able to earn points on Argos purchases across its range of DIY, home, health and beauty, garden and toy products, both in-store and onl
  
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• The Hut Group begins trading on London Stock Exchange

  16-09-2020 08:53 via retailgazette.co.uk
  // The Hut Group raises £1.88 billion to begin IPO
  // Market capitalisation reaches £5.4 billion
  // The online retailer will begin trading on the London Stock Exchange from 8am on WednesdayThe Hut Group has begun trading on the London Stock Exchange after raising £1.88 billion to float, which has accelerated its market capitalisation to £5.4 billion.
  The online retailer said it would begin trading on the London Stock Exchange from 8am on Wednesday following the float
  
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• Iceland demands transparency from retailers on plastic packaging

  16-09-2020 08:34 via retailgazette.co.uk
  // Iceland calls on retail industry to be more transparent in regards to plastic packaging
  // It has teamed up with campaigners Friends of the Earth, Greenpeace, A Plastic Planet, and Surfers Against SewageIceland has called on retailers to become more transparent in their reporting of plastic packaging in an effort to encourage the fight against plastic pollution.
  The frozen food specialist has joined forces with campaigners Friends of the Earth, Greenpeace, A Plastic Planet, and Surfers A
  
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• Money-launderers use Chinese online shopping sites to funnel cash offshore

  16-09-2020 06:00
  Police busts show people topping up offshore gambling accounts using fake transactions on popular platforms
  
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• Waitrose to close four stores

  16-09-2020 01:00 via theretailbulletin.com
  
  Waitrose is to close three shops in Caldicot, Ipswich and Shrewsbury and sell its Wolverhampton supermarket to Tesco. The move forms part of the retailer’s review of its store estate... View Article
  
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• Unit X gallery concept launches in Seven Dials

  16-09-2020 01:00 via theretailbulletin.com
  
  The Unit London gallery has opened a new experience-led concept called Unit X in London’s Seven Dials. The space is housed in a 5,498 square foot former... View Article
  
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• Sainsbury’s opens new London convenience store

  16-09-2020 01:00 via theretailbulletin.com
  
  Sainsbury’s has opened a new London convenience store on Camden’s Abbey Road. The ‘Local’ store will sell a range of fresh fruit and vegetables, dairy products and... View Article
  
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• Register for our free virtual Retail HR Summit

  16-09-2020 01:00 via theretailbulletin.com
  
  Join us at our virtual Retail HR Summit on 1 October to find out how other retail HR teams are dealing with the unprecedented challenges brought about the... View Article
  
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• New Look wins backing for CVA proposal

  16-09-2020 01:00 via theretailbulletin.com
  
  New Look has announced that its company voluntary arrangement proposal has been approved by the majority of its unsecured creditors. The approval means the retailer will be able to reduce... View Article
  
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• How to eliminate the impact of poor CRM customer data

  16-09-2020 01:00 via theretailbulletin.com
  
  Accurate CRM customer data is critical for every marketing, sales, and operations team and is essential to building strong relationships with your customers. However, Experian’s Global... View Article
  
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• H&M recovery better than expected

  16-09-2020 01:00 via theretailbulletin.com
  
  H&M has posted a 16% decline in net sales in its third quarter after trading was impacted by Covid-19, although the group said its recovery following the pandemic has... View Article
  
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• Festival Of Licensing platform opens online at www.festivaloflicensing.com

  16-09-2020 01:00 via theretailbulletin.com
  
  The Festival of Licensing event platform opens today allowing attendees to search the exhibitor list and pre-book meetings through the Festival Matchmaking Service. In the coming... View Article
  
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• Eve Sleep’s losses narrow

  16-09-2020 01:00 via theretailbulletin.com
  
  Mattress retailer Eve Sleep saw its losses narrow in the  first half of its financial year as customers numbers grew by 7%. In the six months... View Article
  
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• Case Study: Rexall uses geospatial data analytics to align offerings with demand

  16-09-2020 01:00 via theretailbulletin.com
  
  The drugstore marketplace in Canada is highly competitive; it has grown in recent years to encompass more than 10,200 pharmacies. In this environment, some have tried... View Article
  
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• Bestseller appoints communications manager

  16-09-2020 01:00 via theretailbulletin.com
  
  Bestseller, the owner of brands such as Jack & Jones, Vero Moda and Vila, has appointed journalist and documentary filmmaker Niels Christian Jung as its communication manager. Jung  has worked... View Article
  
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• Aptos kicks off next chapter of global growth, technology innovation with successful Revionics acquisition

  16-09-2020 01:00 via theretailbulletin.com
  
  Aptos, a recognized market leader in retail technology solutions, announced today that it has completed its acquisition of Revionics, the leading provider of science-based pricing, promotion and... View Article
  
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• Amazon launches new ‘Luxury Stores’ offering with Oscar de la Renta

  16-09-2020 01:00 via theretailbulletin.com
  
  Amazon has launched a new shopping experience for customers wanting to buy from established and emerging luxury fashion and beauty brands. Called Luxury Stores, the new... View Article
  
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