Retail news

• Boots chain reports 30% sales drop at retail sites in UK

  15-10-2020 20:30
  
  Profit margin fall, blamed on Covid-19 effects, drags global firm to $3m quarterly lossCoronavirus – latest updatesSee all our coronavirus coverageSales at Boots slumped nearly 30% in the three months to the end of August as shoppers stayed away from town centres and picked up health goods at supermarkets instead.Over the three-month period, the UK retailer has lost share in every market in which it operates, except for beauty. Shoppers shunned its stores and opted to pick up pain relief,
  
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• LVMH offers glimmers of hope to the luxury sector

  15-10-2020 18:58 via ft.com
  Growth at Louis Vuitton and Dior help to offset steep declines elsewhere in the group
  
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• Poundstretcher to launch 50 new stores despite CVA proposals

  15-10-2020 17:27 via retailgazette.co.uk
  // Poundstretcher to open 50 new stores in 2021
  // The new sites will range from existing shop units to development sites in town centres and out-of-town retail parksPoundstretcher is reportedly seeking to open 50 new stores despite recently launching a store closure programme in an effort to cut costs.
  According to a poster produced by the business, it is on the look-out for dozens of new sites to open in 2021.
  These sites will range from existing shop units to development sites in town centres
  
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• AO World: online shine

  15-10-2020 16:50 via ft.com
  Investors should wait for prices to drop before stocking up
  
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• 5 minutes with Fares Manai, Co-Founder, Bloobloom

  15-10-2020 16:30 via retailgazette.co.uk
  Tell me a bit about the Bloobloom story.
  I co-founded Bloobloom with my brother Abbas in 2018. Having spent just over a decade in banking, we realised that we wanted to take on a new challenge and have an impact on things that really matter, and create a positive impact on people’s lives.
  So we both quit our jobs and embarked on a journey to find where we could best help. We landed in Rwanda and met Tony Hulton, chief executive of Vision for a Nation, an amazing eye sight charity. There,
  
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• Boots struggles to trade amid Covid-19 as store sales drop

  15-10-2020 16:14 via retailgazette.co.uk
  // Boots store sales drop over the past quarter
  // The decline comes as high street stores and travel stores struggle to trade due to Covid-19
  // Boots lost market share in all of its categories apart from beauty over the quarterBoots has reported a store sales decline over the last quarter as its high street and travel units struggle to trade amid the Covid-19 pandemic.
  The health and beauty retailer saw group sales drop 16.7 per cent for the three months to August 31, despite a continued
  
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• EG Group’s bonds fall after auditor’s abrupt resignation

  15-10-2020 13:53 via ft.com
  Petrol station company’s owners recently agreed £6.8bn takeover of UK grocer Asda
  
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• Edinburgh Woollen Mill Group to shutter over 50 stores as landlords reject proposals

  15-10-2020 13:28 via retailgazette.co.uk
  // Edinburgh Woollen Mill Group landlords attack administration proposals
  // The group filed a notice of intention to appoint administrators from FRP Advisory earlier this month
  // Edinburgh Woollen Mill Group is seeking to push through a pre-pack administrationEdinburgh Woollen Mill Group (EWM) landlords have reportedly criticised the administration proposals outlined by representatives of the fashion group, owned by billionaire Philip Day.
  EWM filed a notice of intention to appoint a
  
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• Uniqlo and Muji expect record profits as pandemic boosts Asia online sales

  15-10-2020 13:20 via ft.com
  Stay-at-home consumers turn to Japanese groups’ affordable casual clothes
  
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• Klarna to be investigated by ICO after sending marketing emails to users “who are not and have never been a customer”

  15-10-2020 13:20 via chargedretail.co.uk
  
  Klarna is set to be investigated by the Information Commissioner’s Office (ICO) after sending marketing emails to scores of addresses it should not have had access to.
  Angry customers took to social media yesterday to question Klarna after they received its newsletter despite never having dealt with the company.
  One user said she received the promo email “despite never having used the service..no explanation as to where they got the data from”.
  The Swedish payments giant sent a
  
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• Amazon accused of breaking virus safety measures to ensure smooth Prime Day

  15-10-2020 11:59 via chargedretail.co.uk
  Amazon has reinstated “oppressive and dangerous” productivity quotas in the run up to Prime Day exposing employees to greater risk of catching COVID-19.
  According to Bloomberg, plaintiffs in an ongoing court case against the retail giant have accused it of not being “honest and forthcoming” with the court after assuring that it had scrapped warehouse productivity quotas during the COVID-19 crisis.
  In July, Amazon told the court that it would stop disciplining workers
  
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• Co-op to create jobs with two new stores thanks to £2.3m investment

  15-10-2020 11:52 via retailgazette.co.uk
  // Co-op invests £2.3m in two new food stores in Birmingham, which will support 30 local jobs
  // The stores are located in High Street, Harborn, and University Locks, BirminghamCo-op will open two new food stores in Birmingham this month following a £2.3 million investment, which will help support 30 local jobs.
  The convenience retailer has overhauled the infrastructure of its petrol filling station located in High Street, Harborne, and extended the food store on site by almost one-t
  
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• Dunelm posts 37% rise in Q1 sales

  15-10-2020 10:33 via retailgazette.co.uk
  // Dunelm saw sales rise by over a third for most recent quarter
  // Digital sales were up 12 per cent year-on-year
  // Retailer announced it will pay back £14m received under government furlough schemeHome and furniture specialist Dunelm on Thursday posted a 37 per cent jump in first quarter sales thanks to higher demand for home items.
  Sales came in at £359.1 million in the 13 weeks to September 26, up 37 per cent, with digital sales were up 12 per cent on last year.
  Net cash at the
  
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• Uniqlo profits down 40% as Fast Retailing predicts bounce-back recovery

  15-10-2020 10:17 via retailgazette.co.uk
  // Uniqlo revenue down 12.3% after global impact of coronavirus
  // Japanese apparel brand predicted to bounce back from impact of pandemic by 2021 with a 64% rise in profit by August next year
  // Uniqlo aiming to open a flagship in every major city worldwideFor the year just ended, Fast Retailing reported JPY 149 billion (GBP 1.09 billion) operating profit, above the market consensus forecast of JPY 137 billion (GBP 1 billion), according to Refinitiv.
  Uniqlo’s parent company achieved JPY 1
  
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• Deloitte exits as Asda owner EG Group’s auditor after £6.8bn deal

  15-10-2020 10:01 via retailgazette.co.uk
  // Deloitte resigns as Asda owner EG Group’s auditor
  // EG Group sealed a £6.8 billion deal to acquire Asda last month
  // KPMG has been appointed to replace DeloitteAsda owner EG Group’s auditor Deloitte has reportedly stepped down with immediate effect shortly after the petrol stations group sealed a £6.8 billion deal to acquire the grocer.
  The Big 4 accountancy firm has resigned as auditor for EG Group following concerns over its governance and internal control, Financi
  
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• AO World H1 revenue up 57%

  15-10-2020 09:02 via retailgazette.co.uk
  // AO World updates market after UK revenue rose 54% in H1
  // Electrical retailer said positive sales momentum continued despite competitors re-opening
  // Founder John Roberts says AO is “on track with plans and well set for our biggest ever peak trading period”Online electrical retailer AO World revealed on Thursday it is expected half year profit to rise by 57 per cent thanks to strong demand in UK and Germany.
  In a market trading update this morning the company said it expected gr
  
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• Third of UK adults feel vulnerable to fraud when shopping online

  15-10-2020 08:41 via retailgazette.co.uk
  // YouGov poll finds adults are spending longer online since lockdown, and many using internet shopping for the first time
  // Get Safe Online launches code of advice to help customers navigate online shopping and bankingAlmost a third of adults in the UK feel more vulnerable to fraudsters after the rise of internet shopping and banking during lockdown.
  A YouGov poll carried out between September 30 and October 1 in support of the Get Safe Online campaign found the UK’s adults have been spe
  
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• French billionaire Xavier Niel turns activist at Unibail-Rodamco

  15-10-2020 08:01 via ft.com
  Telecoms boss and real estate investment fund team up to push for change at indebted shopping centre owner
  
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• French billionaire Xavier Niel takes activist tack at Unibail-Rodamco

  15-10-2020 08:01 via ft.com
  Telecoms boss and real estate investment fund team up to push for change at indebted shopping centre owner
  
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• Plan for UK shops to offer cashback without a purchase

  15-10-2020 01:01
  
  Cashback was second most popular way of taking out money last year but EU rules limit its useShops will offer cashback without consumers needing to make a purchase, under Treasury proposals to protect people’s access to cash.In 2019 consumers received £3.8bn in cash when paying for items at a till, making it the second most popular way of withdrawing money behind ATMs. Continue reading...
  
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• Zone Pricing Takes on a Bigger Role During the Pandemic

  15-10-2020 01:00 via theretailbulletin.com
  
  With panic buying already building momentum again, the pandemic is massively influencing consumer behaviour, and the economic fallout has had a huge impact on the role... View Article
  
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• What buzzwords would you banish to Room 101?

  15-10-2020 01:00 via theretailbulletin.com
  
  RedEye invited three digital marketers, who are at various stages of their careers, to Room 101 to discuss the terms, tactics and buzzwords from their Marketing... View Article
  
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• URBN announces management changes

  15-10-2020 01:00 via theretailbulletin.com
  
  URBN has announced a series of changes to its management structure as it looks to support the future growth of the business. Although she will remain... View Article
  
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• e&e Jewellery joins line-up at Covent Garden

  15-10-2020 01:00 via theretailbulletin.com
  
  The Mercers’ Company has announced that independent jeweller e&e Jewellery is to open a store in London’s Covent Garden next month. Spanning 500 square feet, the... View Article
  
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• Dunelm boosted by ‘very strong’ first quarter trading

  15-10-2020 01:00 via theretailbulletin.com
  
  Homewares retailer Dunelm saw its total sales climb by 36.7% to £359.1 million in its first quarter The retailer had previously reported in September that trading... View Article
  
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• Co-op invests £2.3 million in two Birmingham food stores

  15-10-2020 01:00 via theretailbulletin.com
  
  Co-op is set to open two food stores in Birmingham this month following a £2.3 million investment. The stores will support 30 local jobs. The retailer... View Article
  
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