Retail news

• Rolls-Royce's rights issue is emergency button it should have pressed sooner | Nil Pratley

  01-10-2020 21:06
  
  Assuming the financial package is completed, collapse or a full-blown state bailout should be off the table for a whileThe process was slow and spluttering, but the Rolls-Royce got there in the end: there will be a fully underwritten rights issue to raise £2bn, plus a new £3bn debt package. If the civil aviation market comes out of hibernation by 2022, it should be enough.The UK’s premier engineering company didn’t even have to trot off to Singapore for sovereign wealth m
  
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• Marks & Spencer hopes eco-fashion brand will help boost clothing arm

  01-10-2020 18:55
  
  Nobody’s Child label begins sales on retailer’s website as part of plan to increase appealMarks & Spencer has started selling an independent eco-fashion brand on its website as part of a plan to reinvigorate its struggling clothing arm.The Nobody’s Child label bills itself as an antidote to a damaging fast fashion industry and makes its £35 floaty minidresses and teadresses out of recycled polyester and sustainably-sourced viscose. The five-year-old London company say
  
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• Marks & Spencer hopes eco-fashion brand will boost clothing arm

  01-10-2020 18:55
  
  Nobody’s Child label begins sales on retailer’s website as part of plan to widen appeal
  Marks & Spencer has started selling an independent eco-fashion brand on its website as part of a plan to reinvigorate its struggling clothing arm.The Nobody’s Child label bills itself as an antidote to a damaging fast-fashion industry and makes its £35 floaty minidresses and teadresses out of recycled polyester and sustainably sourced viscose. The five-year-old London company says
  
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• How employers can attract retail staff amid ongoing job cuts

  01-10-2020 18:16 via retailgazette.co.uk
  Earlier this month, the Centre for Retail Research found that more than 125,000 jobs in the UK retail sector have been lost in the first eight months of 2020 – far higher than previous estimates.
  The research found a previously-unaccounted 32,598 positions have gone at independent retailers, although the majority of job cuts have been at multiple retailers – those with five stores or more, including the bigger-name chains – with 92,917 job axed.
  From January 1 to August 1
  
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• Zalando’s northern Europe boss steps down

  01-10-2020 17:30 via retailgazette.co.uk
  // Zalando northern Europe director Kenneth Melchior resigns
  // He leaves after four years with the online retailerThe man who directed Zalando’s operations in the UK has reportedly resigned after four years with the online fashion retailer.
  Zalando’s director for Northern Europe, Kenneth Melchoir, has exited the business after two years in the role.
  Melchior first joined the German retailer in 2016 as Nordic director before he was promoted to Nordics and UK director in January 2018.
  
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• Ocado accused of infringing robot technology patents

  01-10-2020 15:54 via ft.com
  AutoStore says it patented ‘hive’ warehouse system and launches court actions
  
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• Co-op to donate supplies to thousands of students in lockdown

  01-10-2020 15:36 via retailgazette.co.uk
  // Co-op to donate £10,000 worth of supplies to uni students being forced to self-isolate
  // Local student unions will be able to pick up basics from their local Co-op & distribute them to those students most in needThe Co-op is set to donate £10,000 worth of supplies to thousands of university students currently under self-isolation restrictions because of the coronavirus crisis.
  The grocery chain said it wanted to help the students having to self-isolate on campuses in areas in
  
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• M&S begins selling 3rd party fashion items online for the first time with Nobody’s Child

  01-10-2020 15:22 via chargedretail.co.uk
  
  Marks & Spencer has begun selling third-party fashion items on its website for the first time in its history as part of an ambitious plan to modernise its offering.
  M&S has partnered with Nobody’s Child to offer a range of 140 womenswear products including dresses, knitwear and loungewear, all available for next-day delivery.
  This marks the first time M&S has sold clothing produced by a brand other than its own, and forms part of its wider strategy to improve its ecommerce offe
  
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• Morrisons extends immediate payment to small suppliers until January

  01-10-2020 13:52 via retailgazette.co.uk
  // Morrisons extends commitment to pay farmers, local foodmakers & small business immediately until the end of Jan
  // Morrisons has been making these immediate payments to help smaller suppliers through the coronavirus pandemic
  // The 5% discount Morrisons’ farmers receive on their grocery shop is also being extended as a “thank you”Morrisons has confirmed it will continue to make immediate payments to its smaller suppliers until the end of January.
  The immediate payments s
  
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• Primark renews lease on anchor store at Intu Watford

  01-10-2020 13:17 via retailgazette.co.uk
  // Primark renews lease for its anchor store at Intu Watford
  // The news provides a glimmer of hope as Intu pushes on with its administrationPrimark has renewed the lease on its store at Intu Watford, providing a vote of confidence for the embattled shopping centre empire as it pushes on with its administration.
  Contracts have been exchanged and Primark continues to trade from its existing anchor unit, neighbouring a number of other retailers, such as M&S, Lego and JD Sports.
  Intu said the r
  
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• Black Pound Day founder urges BLM marchers to 'spend black'

  01-10-2020 12:53
  
  So Solid Crew’s Swiss says anti-racism activists should support black-owned businessesPeople who attended anti-racism marches this summer should turn their attention “to what really matters” and spend their money with black-owned businesses, the founder of Black Pound Day has said.The brainchild of Swiss, from the garage collective So Solid Crew, the first Black Pound Day was held on 27 June and it is estimated that the monthly event has so far raised more than £100,000 f
  
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• Iceland & Morrisons launch online initiatives to help thousands of uni students forced to self-isolate

  01-10-2020 12:40 via chargedretail.co.uk
  
  Iceland and Morrisons have both launched online initiatives aimed at helping the thousands of students self-isolating in halls and student campuses.
  This week Iceland said it was offering students £5 off a £40 online shop “as part of our efforts to support those most affected by lockdown measures”.
  Students who register for an account using a university email will also be offered “priority delivery slots” Iceland said.
  Morrisons also launched a “Serve ou
  
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• The Hut Group boosts portfolio with new £46m beauty acquisition

  01-10-2020 11:28 via retailgazette.co.uk
  // The Hut Group adds to its beauty portfolio by acquiring Perricone MD for £46 million
  // The Hut Group plans for Perricone MD to achieve double-digit EBITDA margins by end of the 2021 financial year
  // Earlier this month, The Hut Group shares rose by almost a third following its Stock Exchange debutThe Hut Group has acquired luxury skincare brand Perricone MD for £46 million in an effort to boost its beauty portfolio.
  The online retailer has a growing stable of beauty brands includ
  
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• Halfords raises profit forecast to £55m as cycling sales roll on

  01-10-2020 11:00
  
  Retailer says sales of bike products show no sign of stopping as demand for car products and services also riseHalfords has raised its profit guidance for the rest of the year after a surge in bike sales during the pandemic.The retailer said demand for bikes and cycling products has continued following the end of the peak cycling and summer staycation season, while sales are growing again for its car products and services. As a result, it now expects half-year profits to top £55m, compared
  
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• UK cycling craze triggered by pandemic boosts Halford profits

  01-10-2020 10:45 via ft.com
  Shares soar by a fifth after motoring and bike retailer upgrades forecasts for second time
  
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• H&M confirms plans to shut 250 stores globally next year

  01-10-2020 10:33 via retailgazette.co.uk
  // H&M to shut down 250 stores next year as their leases end
  // The store closures form part of transformation plan to invest more in digital in the wake of the pandemic
  // H&M said sales improved in September, although for the nine-month period ending August sales fellH&M has confirmed plans to shut around 250 of its stores globally next year after the Covid-19 pandemic moved more shoppers online.
  The Swedish fashion giant said about a one quarter of its 5000-plus stores worldwide w
  
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• B&Q owner Kingfisher sells Russian division for £73m

  01-10-2020 10:04 via retailgazette.co.uk
  // Kingfisher sells Russian Castorama division to domestic chain Maxidom for £73m
  // The sale to Maxidom marks the first sale since Kingfisher’s new CEO Thierry Garnier joinedKingfisher has offloaded its Castorama division in Russia to domestic chain Maxidom in a £73 million deal.
  The B&Q and Screwfix owner sold the Russian Castorama division on Wednesday, with 80 per cent of the sale price paid at the point of transaction and the remaining 20 per cent to be paid in in
  
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• Halfords “remains cautious” despite raising profit guidance

  01-10-2020 09:41 via retailgazette.co.uk
  // Halfords raises half-year profit expectations
  // The retailer warns of economic uncertainty affecting its second half performanceHalfords has raised its half-year profit expectations but warned that economic uncertainty could affect its second half performance.
  Thanks to the staycation season, Halfords said that sales have remained strong since its last trading update earlier this month.
  The retailer recorded a 22 per cent rise in group like-for-like sales growth in the five weeks to Sep
  
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• H&M to close 250 stores as leases come up

  01-10-2020 09:19 via ft.com
  The world’s second-largest clothing chain in stepping up its digital investments
  
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• H&M plans to close 250 stores

  01-10-2020 09:19 via ft.com
  World’s second-largest clothing retailer to renegotiate leases as chain steps up digital investments
  
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• Government urged to “investigate growing problem” of crime against shopworkers

  01-10-2020 08:58 via retailgazette.co.uk
  // A group of associations have urged government to to launch inquiry into violence against retail staff
  // The BRC, Association of Convenience Stores, Usdaw and the National Federation of Retail Newsagents wrote a letter to Chair of the Home Affairs Committee, Yvette Cooper MP
  // The associations said the government has rejected numerous calls to protect shopworkersA group of associations have come together to call on the Chair of the Home Affairs Committee, Yvette Cooper MP to launch an inquir
  
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• Travis Perkins chairman Stuart Chambers to exit

  01-10-2020 08:53 via retailgazette.co.uk
  // Travis Perkins non-exec chair Stuart Chambers is due to step down from his role
  // The Wickes owner said no firm date has been set for his departure
  // Travis Perkins is currently searching for his successorTravis Perkins non-executive chairman Stuart Chambers has informed the board that he plans to step down from his role.
  The Wickes owner said no firm date has been set for his departure, but is expected to take place during the first half of 2021.
  Chambers took up the role of chairman in No
  
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• Ocado share price soars as UK shifts to online grocery shopping

  01-10-2020 07:00
  
  Tesco still delivers far more food to doorsteps but is now valued lower on stock marketIt may account for less than 2% of the groceries sold in the UK compared to Tesco’s near 27% share of the nation’s food shopping, but the stock market value of 20-year-old Ocado is now greater than that of the 100-year-old supermarket giant – a change that could reflect the future of the weekly shop.A sharp increase in the speed of the shift to online shopping during the coronavirus pandemic
  
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• More than a third of UK employers planning to make staff redundant

  01-10-2020 01:01
  
  Report warns of a cascade of job losses as coronavirus furlough scheme winds down Coronavirus – latest updatesSee all our coronavirus coverageMore than a third of UK employers plan to make staff redundant over the next three months, according to research warning of a cascade of job losses caused by the coronavirus pandemic.With a month to go until the end of the government furlough scheme on 31 October, 37% of more than 2,000 managers polled by YouGov said they were likely to make staff re
  
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• Trust issues: investing in the health of retail

  01-10-2020 01:00 via theretailbulletin.com
  
  Guest Comment: Chris Brook-Carter, CEO, retailTRUST I may not be a retailer, but my heart undeniably belongs to this industry, which was why – after nine... View Article
  
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• Travis Perkins chairman to step down

  01-10-2020 01:00 via theretailbulletin.com
  
  Wickes owner Travis Perkins has announced that Stuart Chambers has informed its board that he wishes to step down from his role as non-executive chairman. The... View Article
  
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• Topps Tiles hails strong fourth quarter performance

  01-10-2020 01:00 via theretailbulletin.com
  
  Topps Tiles has said trading in its fourth quarter was strong after sales were boosted by a robust home improvement market. In the 13 weeks to... View Article
  
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• The Retail HR Summit held on 1 October

  01-10-2020 01:00 via theretailbulletin.com
  
  Here Paul Deeprose gives a roundup of this year’s Retail HR Summit. “I was pleased to moderate this year’s Retail HR Summit which this year focused... View Article
  
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• Sainsbury’s boosts online grocery delivery capacity

  01-10-2020 01:00 via theretailbulletin.com
  
  Sainsbury’s has announced plans to increase its weekly grocery online orders to 700,000 by end of October. Covering bpth home delivery and click & collect, the... View Article
  
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• Retail HR 2020 Speaker Profile: Dr Chris Mullen – Executive Director – The Workforce Institute – UKG

  01-10-2020 01:00 via theretailbulletin.com
  
  Dr Chris Mullen leads the HCM Strategic Advisory Group at Kronos (now UKG), a global leader in workforce cloud solutions. A thought leader on performance, development,... View Article
  
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• Morrisons to continue making immediate payments to small suppliers until January

  01-10-2020 01:00 via theretailbulletin.com
  
  Morrisons has said it will continue to make immediate payments to its smaller suppliers until the end of January as it looks to help them through... View Article
  
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• Kronos and Ultimate Software unveil plans to rebrand as “UKG”

  01-10-2020 01:00 via theretailbulletin.com
  Company launches new brand identity to chart path forward as one of world’s largest cloud companies. Ultimate Software and Kronos Incorporated today announced plans to rebrand... View Article
  
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• Kingfisher completes sale of Castorama Russia to Maxidom

  01-10-2020 01:00 via theretailbulletin.com
  
  B&Q owner Kingfisher has completed the sale of Castorama Russia to Maxidom in a deal worth £73 million. In a statement, the B&Q owner said 80%... View Article
  
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• IKEA to remove all non-rechargeable alkaline batteries from its ranges

  01-10-2020 01:00 via theretailbulletin.com
  
  IKEA is to remove all non-rechargeable alkaline batteries from its global home furnishing range by October 2021. The retailer said the move forms part of its... View Article
  
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• Halfords raises first half profit forecast

  01-10-2020 01:00 via theretailbulletin.com
  
  Halfords has said it expects its first half pre-tax profit to come in ahead of expectations at over £55 million compared to the £35 million to... View Article
  
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• Fast-foward your Ecommerce strategy

  01-10-2020 01:00 via theretailbulletin.com
  
  A little over 18 months ago Ampersand launched a radical new approach to how they deliver ecommerce projects. It was a direct response to the recurring... View Article
  
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• Discover Accelerator: Ampersand launches three new websites

  01-10-2020 01:00 via theretailbulletin.com
  
  A little over 18 months ago Ampersand launched a radical new approach to how they deliver ecommerce projects. It was a direct response to the recurring... View Article
  
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• Baird Group begins Suit Direct expansion and forms Ted Baker brand partnership

  01-10-2020 01:00 via theretailbulletin.com
  
  Baird Group owned men’s formalwear retailer Suit Direct has agreed terms on three new stores in Leicester, Newcastle and Birmingham. The openings will take the retailer’s... View Article
  
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