Retail news

• Water watchdog's defeat turns on cash taps for (some) shareholders

  29-09-2020 20:58
  
  Four of the 17 firms in England and Wales appealed in vain to the competition regulator over billsIt’s not (yet) a crisis in the world of water regulation, but a heavy defeat for Ofwat, trying to land its “toughest ever” price settlement, is a big moment. Four companies rebelled over proposed steep cuts to bills and, to varying degrees, all got something from the video assistant referee (VAR), meaning the Competition and Markets Authority.Appeals haven’t succeeded often.
  
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• B&M steps up expansion after lockdown sales boom

  29-09-2020 20:52
  
  Chain plans 45 new stores as it benefits from spending shift to out-of-town retail parksDiscount retailer B&M has stepped up its expansion plans after its stores, selling everything from tinned and frozen food to wallpaper and bedding plants, became a lockdown sensation.B&M said its UK sales increased by nearly 20% over the last three months despite the absence of a website. The retailer is benefiting from big shifts in spending as out-of-town retail parks win custom during the pandemic.
  
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• Ocado overtakes Tesco as UK's most valuable retailer

  29-09-2020 20:36
  
  Delivery-based supermarket’s value rises to £21.66bn despite selling 1.7% of UK’s groceriesOcado has overtaken Tesco to become the UK’s most valuable retailer after its stock market value soared to £21.66bn.Tesco is worth £21.06bn despite controlling nearly 27% of the UK grocery market. By comparison Ocado, which is already worth more than double the combined value of Sainsbury’s and Morrisons, sells just 1.7% of the UK’s groceries. Continue readin
  
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• Charles Moore, the BBC and the A-word | Brief letters

  29-09-2020 19:14
  
  Charles Moore | Students and Covid | British Summer Time | Panic buyingThank you, Charles Moore (No 10 told Charles Moore appointment could put BBC’s independence at risk, 27 September). He says: “Like the Church of England in the 19th century … I think the BBC should be disestablished.” That makes me a supporter of antidisestablishmentarianism. I’ve waited over 60 years for an opportunity to use that word! Paul Dennehy London• If an accurate quotation, it rev
  
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• Is Asda too late to the convenience sector?

  29-09-2020 18:20 via retailgazette.co.uk
  While other Big 4 grocers Tesco, Sainsbury’s and Morrisons already offer smaller, more local stores, Asda has traditionally focused on larger supermarket formats.
  Recently though, Asda announced the launch of its On the Move concept, where customers can easily purchase fresh food and essentials in a convenience store format.
  It comes as the British retailer undergoes a sales process, where US giant Walmart is seeking to sell a majority stake to private equity firms. Walmart has owned Asda
  
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• Waitrose the first supermarket to sell unwrapped Christmas gift wrapping

  29-09-2020 17:39 via retailgazette.co.uk
  // Waitrose will be the 1st to sell rolls of Christmas gift wrap unpackaged this year, eliminating the single use plastic
  // Each roll will use a little extra paper to prevent the wrap from being damaged & labels to stop it unravelling
  // If successful, the retailer said it would look to roll out the design more widely next ChristmasWaitrose is set to be the first supermarket to sell rolls of Christmas gift wrap unpackaged this year, eliminating the use of single use plastic that can’t
  
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• Fred Perry withdraws polo shirt amid neo-fascist association

  29-09-2020 16:39 via retailgazette.co.uk
  // Fred Perry axes black and yellow polo shirt after neo-fascist groups in North America adopt it
  // It has stopped selling the item in the US & Canada and won’t bring it back until it’s satisfied its association with the far-right has ended
  // Neo-fascist group Proud Boys appropriated Fred Perry’s signature Laurel Wreath emblem to advertise a rally in OregonFred Perry has removed a black and yellow polo shirt from sale in the US and Canada after it became associated with a
  
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• Allegro prices Poland’s biggest-ever IPO

  29-09-2020 16:04
  Equity value of $11bn makes ecommerce group the country’s most valuable listed company
  
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• Asda/Walmart/EG: the backstop brothers

  29-09-2020 15:24
  Low-profile siblings sense a seller running out of options
  
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• UK economy shows signs of faltering before second Covid-19 wave

  29-09-2020 15:00
  
  Guardian analysis shows mounting fears of double-dip recession as activity weakensCoronavirus – latest updatesSee all our coronavirus coverageBritain’s economic recovery from the coronavirus pandemic was showing signs of faltering even before the onset of a second wave in infections, a Guardian analysis of economic developments in the past month has shown.As the chancellor, Rishi Sunak, extends job support measures to tackle growing numbers of redundancies, early warning indicators f
  
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• UK economy nears 'perilous turning point' on Covid-19

  29-09-2020 15:00
  
  Our latest snapshot of key economic indicators shows UK plc is fast losing momentum Continue reading...
  
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• The Very Group hires chief data officer

  29-09-2020 14:22 via retailgazette.co.uk
  // The Very Group appoints Steve Pimblett as chief data officer
  // Pimblett has a raft of experience in senior data roles and will report to The Very Group’s CTO Andy BurtonThe Very Group has hired Steve Pimblett to take on the role of chief data officer.
  Pimblett joins the online retailer from from Wejo, a UK scale-up behind technology used in connected cars.
  Most recently, he held the dual role of chief data officer and chief information officer at the firm, which has tie-ups with Genera
  
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• Amazon rolls out new biometric palm-scanning technology at its stores with Amazon One

  29-09-2020 14:07 via chargedretail.co.uk
  
  Amazon is introducing new state-of-the-art palm-scanning technology at its Amazon Go stores, enabling customers to pay, present loyalty cards and enter locations with their hands.
  The retail giant has launched Amazon One, a new palm scanning system which uses “custom-built algorithms and hardware” to create a user’s unique palm signature.
  Starting today customers can sign up for Amazon One in less than a minute, and use it to gain entry to two Amazon Go stores in Seattle by hov
  
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• Ex-Sainsbury’s CEO Mike Coupe hired for key NHS Test & Trace role

  29-09-2020 14:03 via retailgazette.co.uk
  // Former Sainsbury’s CEO Mike Couple appointed NHS Test and Trace testing director
  // Couple resigned from Sainsbury’s at the end of May, after 6 years as CEO and 15 years with the companyThe former chief executive of Sainsbury’s is to take over as testing director at NHS Test and Trace.
  Mike Coupe, who retired as chief executive officer of the Big 4 grocer at the end of May, is set to replace Sarah-Jane Marsh who is returning to her post as chief executive of Birmingham Women
  
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• Poshmark/online retail: hand-me-downs

  29-09-2020 13:13
  The delayed IPO and poor performance of a listed rival should deter an investor shopping spree
  
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• Greggs warns staff must cut hours or face job cuts

  29-09-2020 11:41
  UK food-to-go group cheered by uptick in trade but looks to resize business to fit pandemic demand
  
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• Greggs presses on with new stores as it weighs furlough job cuts

  29-09-2020 11:41
  UK food-to-go group warns rising Covid-19 infections could continue to disrupt its supply chain
  
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• Aldi’s new online grocery expansion will see it “leapfrog Morrisons” and battle for “pole position” in the UK

  29-09-2020 11:31 via chargedretail.co.uk
  
  Aldi is planning to “jostle for pole position” with the UK’s largest supermarkets with its latest focus on online grocery, according to analysts.
  The German discounter yesterday announced plans to invest a whopping £1.3 billion in to modernising its stores and distribution networks, crucially placing a major focus on its fledgling online offering.
  After launching a click & collect trial at one of its stores in Loughborough last week marking the first time its grocery
  
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• Discounter B&M lifts profit forecast for second time this year

  29-09-2020 11:13
  More store openings planned with full-year earnings expected to climb
  
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• Greggs to cut jobs as furlough scheme comes to an end

  29-09-2020 11:05 via retailgazette.co.uk
  // Greggs warns of job cuts ahead of the government furlough scheme coming to an end
  // The bakery launched consultations with staff to cut hours instead of jobs
  // Greggs said that demand in shops is expected to remain below normal levels due to Covid-19Greggs has warned it will resort to scrapping jobs as the government terminates the furlough scheme.
  The British food retailer entered consultations with unions and staff over a potential cut in hours in a bid to avoid redundancies.
  Greggs
  
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• Hotel Chocolat swings to a £6.5m loss & strikes US deal with The Hut Group

  29-09-2020 10:29 via retailgazette.co.uk
  // Hotel Chcolat swings to a statutory pre-tax loss of £6.5m for the year ending June 28
  // However, full year revenues was up 3%, boosted by a 150% surge in online sales
  // THG Ingenuity has also struck a five-year partnership with Hotel ChocolatHotel Chocolat has swung to a loss after lockdown hammered revenues over Easter while also revealing a five-year partnership with The Hut Group to expand into the US.
  The retailer said its pre-tax profits slid by 83 per cent to £2.4 million
  
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• Coronavirus: ScS “remains confident” despite revenue drop

  29-09-2020 09:59 via retailgazette.co.uk
  // ScS posts revenue of £255.5m for the year to July 25, 2020, down from £317.4m in 2019
  // It made a statutory pre-tax loss of £3.1m, down from the profit of £14.3m in the prior periodScS has seen revenues drop after temporarily closing its stores and distribution centres due to the Covid-19 lockdown.
  The furniture chain reported a revenue of £255.5 million for the year to July 25, 2020, down from £317.4 million in 2019.
  The company also made a statutory
  
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• B&M to open 45 new UK stores after raising profit forecast

  29-09-2020 09:38 via retailgazette.co.uk
  // B&M raises half-year profit guidance after sales rise
  // It expects to post an adjusted EBITDA of £285 million for the six months to September 26
  // Group revenues rose by 25.3% for the six months to September 26B&M has recorded a “strong” growth in sales and raised its half-year profit guidance as a result.
  The discount retailer expects to post an adjusted EBITDA of £285 million for the six months to September 26, ditching its previous range of £250
  
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• Card Factory swings to half-year loss

  29-09-2020 09:00 via retailgazette.co.uk
  // Card Factory swings to half-year loss after coronavirus impacts sales
  // The retailer saw a £22.2 million statutory pre-tax loss in the six months to July 31Card Factory has swung to a half-year loss after the Covid-19 pandemic affected its trading.
  The greetings card retailer saw a £22.2 million statutory pre-tax loss in the six months to July 31, compared to a £24.3 million profit the previous year.
  On an underlying basis, Card Factory’s pre-tax losses reached £
  
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• Card Factory swings to £22.2m half-year loss

  29-09-2020 09:00 via retailgazette.co.uk
  // Card Factory swings a £22.2m statutory pre-tax loss in the six months to July 31
  // Sales dropped 48.6% to £100.5m during the six-month period
  // Like-for-likes in its core UK & Ireland business was down 4.4%Card Factory has swung to a half-year loss after the Covid-19 pandemic affected its trading.
  The greetings card retailer saw a £22.2 million statutory pre-tax loss in the six months to July 31, compared to a £24.3 million profit the previous year.
  On an underly
  
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• Retail footfall drops after government’s ‘work from home’ call

  29-09-2020 08:30 via retailgazette.co.uk
  // Footfall drops across retail after the government tightened security measures
  // Last week, the government encouraged people to work from home
  // The hospitality sector will be forced to shut at 10pmFootfall across UK retail has dropped by three per cent over the last week, as the government’s ‘work from home where possible’ announcement impacted high streets.
  High street footfall declined by 6.8 per cent overall after dropping by an average 11 per cent from Wednesday to Sat
  
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• Tesco sets 300% sales target for plant-based alternatives to meat

  29-09-2020 01:01
  
  In UK first, supermarket’s five-year commitment aims to offer more sustainable optionsTesco is to become the first UK retailer to set a sales target for plant-based alternatives to meat as it steps up efforts to offer shoppers more sustainable options.The UK’s largest supermarket will on Tuesday commit to boosting sales of meat alternatives by 300% within five years, by 2025. Over the past year, demand for chilled meat-free foods – the most popular line including burger, sausag
  
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• The Very Group appoints chief data officer

  29-09-2020 01:00 via theretailbulletin.com
  
  The Very Group has appointed Steve Pimblett as its chief data officer. Pimblett previously worked with Wejo where he held the dual role of chief data... View Article
  
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• ScS posts drop in full year sales

  29-09-2020 01:00 via theretailbulletin.com
  
  Furniture retailer ScS saw its revenue decline by 19.5% to £255.5 million in the year to 25 July after it was impacted by store closures during... View Article
  
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• High street footfall impacted by ‘work from home’ announcement

  29-09-2020 01:00 via theretailbulletin.com
  
  New data has revealed that footfall across UK retail destinations dropped by 3% last week from the previous seven days as  Tuesday’s ‘work from home where... View Article
  
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• High street footall impacted by ‘work from home’ announcement

  29-09-2020 01:00 via theretailbulletin.com
  
  New data has revealed that footfall across UK retail destinations dropped by 3% last week from the previous seven days as  Tuesday’s ‘work from home where... View Article
  
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• Greggs begins consultation on employment costs

  29-09-2020 01:00 via theretailbulletin.com
  
  Greggs has announced that is beginning a consultation with unions on reducing employment costs after it conducted a review of every part of the business. With... View Article
  
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• Banijay, Sanrio and Diageo confirmed as Festival of Licensing keynotes on Crunchroll live stage

  29-09-2020 01:00 via theretailbulletin.com
  
  Today, the final three keynotes for the Festival of Licensing Live Stage, sponsored by Crunchyroll, are announced. They include Banijay, the world’s largest international content producer... View Article
  
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• B&M posts uplift in half year sales and profit

  29-09-2020 01:00 via theretailbulletin.com
  
  B&M has posted an increase in sales and profit in the first half of its financial year after trading was boosted by a rise in the... View Article
  
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• Aldi opens multi-million pound Scottish freezer and chill facility

  29-09-2020 01:00 via theretailbulletin.com
  
  Aldi has officially opened a new £22 million freezer and chill facility in Scotland’s Bathgate. The warehouse will provide an extra 17,000 square metres of space for... View Article
  
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• LVMH lawsuit calls Tiffany’s prospects ‘dismal’

  29-09-2020 00:12
  French group sets out legal arguments for walking away from $16.6bn deal for luxury jeweller
  
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