Retail news

• PwC to quit as auditor to Boohoo on reputation concerns

  16-10-2020 19:18
  Break with controversial client follows similar Deloitte move at EG
  
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• PwC quits as auditor to Boohoo on reputation concerns

  16-10-2020 19:18
  Break with controversial client follows similar Deloitte move at EG
  
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• The Guardian view on Amazon's dominance: we have to make different choices | Editorial

  16-10-2020 19:07
  
  Amazon has helped many in lockdown, and reaped soaring profits. But the company must be held to accountIt was hard to miss the fact that Amazon Prime had a sale this week. Newspapers and magazines covered the event as a celebration of consumption. This on top of a coronavirus pandemic that has accelerated the collapse of already struggling bricks-and-mortar retailers.It is not surprising that so many of us shop with Amazon. The prices seem low. Purchases arrive promptly. But an examination of th
  
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• 'They have to think differently' – shoppers on John Lewis's new strategy

  16-10-2020 18:56
  
  Some customers back new ideas, while others are dubious about renting furnitureChristmas is still nearly 10 weeks away but Ina Ukstina is standing in John Lewis’s Kingston upon Thames store clutching several strings of shiny tree decorations.“For the first time in my life I’m getting an artificial tree,” she says. “I’ve always had a real tree but have started to think about what happens afterwards, and I will be able to reuse it.”Sharon White’s str
  
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• Boots bosses “encouraged” staff to work at Nottingham HQ despite Covid-19 cases

  16-10-2020 17:59 via retailgazette.co.uk
  // Boots execs “encouraged” staff to come into Nottingham head office despite rising Covid-19 cases
  // The health and beauty retailer denied that staff were put under pressure to be at the head officeBoots has reportedly told staff they were “encouraged” to travel into its headquarters in Nottingham, despite Covid-19 infection rates are their highest in the region.
  The message to staff goes against recent government guidelines which advised people to work from home w
  
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• John Lewis/Waitrose: trouble in store

  16-10-2020 17:50
  Retailer’s plan is commendable but the scattergun approach smacks of desperation
  
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• September US retail sales grow at the fastest pace in three months

  16-10-2020 17:37
  Consumers buoyed by large doses of fiscal stimulus designed to sustain spending
  
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• Asda’s new owner EG Group posts “strong performance” in grocery sales

  16-10-2020 17:30 via retailgazette.co.uk
  // EG Group posts “strong performance” in its third quarter thanks to a recovery after lockdowns
  // For the three months to September 30, the group recorded a 54% like-for-like rise in its EBITDA
  // EG Group, owned by billionaire brothers Zuber and Mohsin Issa, acquired Asda for £6.8bnAsda’s new owner EG Group has recorded a “strong performance” in its grocery and merchandise sales, with growth across most markets in its third quarter.
  For the three months to
  
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• Christmas wines: stock up now before they sell out

  16-10-2020 17:00
  
  Thanks to Covid, your favourite wines are selling out more quickly than ever. Time to start squirrelling for Christmas, or take a chance on comparable varietiesOne of the more frustrating things about writing this wine column – for you as well as for me – is that, for one reason or another, some wines I recommend don’t always turn out to be available: not every wine is stocked in every branch, for example. But there’s a new problem and, on the face of it, an unlikely one
  
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• Boots bosses 'encouraged' staff to work at head office despite UK government advice

  16-10-2020 16:32
  
  Emails show senior managers ‘expecting’ attendance at Nottingham HQ despite big spike in local casesCoronavirus – latest updatesSee all our coronavirus coverageBoots told staff they were “encouraged” to come in to its headquarters in Nottingham, where Covid-19 infection rates are the highest in England, even after the government advised people to work from home where possible.Employees said messages from senior managers – seen by the Guardian – indicated
  
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• Boots bosses 'encouraged' staff to work at head office despite government advice

  16-10-2020 16:32
  
  Emails show senior managers ‘expecting’ attendance in Nottingham amid big rise in local casesCoronavirus – latest updatesSee all our coronavirus coverageBoots told staff they were “encouraged” to come into its headquarters in Nottingham, where Covid-19 infection rates are the highest in England, even after the government advised people to work from home where possible.Employees said messages from senior managers – seen by the Guardian – indicated they we
  
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• How it Started vs How it’s Going: The Retailer Edition

  16-10-2020 16:30 via retailgazette.co.uk
  GymsharkThe founder Gymshark, Ben Francis, showcased how far the online activewear retailer has come since its inception in 2012, when he was only 19 and making gym clothes in his Birmingham garage while studying at university.
  The picture he posted shows the original t-shirts first produced next to the newly built Gymshark HQ in Solihull.
  In August, Gymshark hit a £1 billion valuation milestone.
  2. House of CB
  Now worn by the likes of Beyoncé, Rihanna and Jennifer Lopez, Conna Wal
  
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• Sterling choppy amid uncertainty over Brexit talks and Covid lockdowns - as it happened

  16-10-2020 16:04
  
  Rolling coverage of the latest economic and financial news, as EU leaders said Brexit talks would continue next week 3.04pm BST The main market story has centred on investor reaction to Brexit talks after Boris Johnson urged the UK to prepare for no deal. While EU counterparts suggested negotiations would continue next week, a spokesperson for the UK prime minister essentially said the EU shouldn’t bother unless the bloc fundamentally changes its stance. 2.38pm BST US stocks are climbing i
  
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• Waitrose extends “hugely popular” Deliveroo trial to 24 more stores

  16-10-2020 15:22 via chargedretail.co.uk
  
  Waitrose is expanding its “hugely popular” partnership with Deliveroo to cover 3.1 million UK households as it seeks to rapidly expand its online delivery capabilities.
  After ending a 19-year partnership with Ocado last month, Waitrose enlisted the help of Deliveroo to re-establish its online footprint.
  Following a “promising” trial, Waitrose is now significantly extending its partnership with Deliveroo to 24 new locations across the UK, spanning more than 3 million house
  
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• Sterling choppy amid uncertainty over Brexit talks and Covid lockdowns - business live

  16-10-2020 15:06
  
  Rolling coverage of the latest economic and financial news, as EU leaders say Brexit talks will continue next week 2.01pm BST It’s easy to see why sterling is struggling to settle this afternoon, given that the UK’s ‘no-deal is looming’ statement is being interpreted as a sign of concession by others. The latest comments from EU leaders comes from Dutch prime minister Mark Rutte. Reuters reports Rutte saying that he interprets Boris Johnson’s comments as a sign that
  
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• Retail Gazette Loves: Missguided’s new “However You Nude” empowerment campaign

  16-10-2020 15:00 via retailgazette.co.uk
  Missguided has launched a brand new body positive and empowerment campaign after conducting a search for seven everyday, diverse women to be part of a model shoot.
  The online fashion retailer recently partnered with the Models of Diversity charity to conduct the search for the models.
  Out of the 2500 applicants, seven were selected to be featured in Missguided’s new However You Nude campaign.
  The retailer said its new campaign features “diverse and empowering models” to promot
  
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• Sterling recovers as EU raises hopes of Brexit deal - business live

  16-10-2020 14:32
  
  Rolling coverage of the latest economic and financial news, as EU leaders say Brexit talks will continue next week 1.32pm BST Boris Johnson’s dismal Brexit update crucially did not rule out further talks with the EU, and markets are now taking cues from European leaders who said negotiations would continue in London next week. It’s been a roller coaster ride for the pound this afternoon. After dropping more than 0.3% following Johnson’s comments, it’s now back in positive
  
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• Edinburgh Woollen Mill Group administration proposals “outrageous” BPF says

  16-10-2020 13:37 via retailgazette.co.uk
  // The British Property Federation slams Edinburgh Woollen Mill Group’s administration proposals
  // The federation said wealthy UK business owners are “manipulating and abusing” insolvency rules
  // Edinburgh Woollen Mill Group filed a notice of intention to appoint administrators FRP Advisory earlier this monthEdinburgh Woollen Mill Group’s (EWM) administration proposals have reportedly been condemned by the British Property Federation (BPF).
  In a letter from representati
  
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• Pound drops after Johnson tells UK to prepare for no-deal Brexit - business live

  16-10-2020 13:25
  
  Rolling coverage of the latest economic and financial news, after Boris Johnson said EU Brexit talks had not progressed 12.25pm BST For more on the political reaction to Boris Johnson’s statement, do follow our news live blog.Related: Boris Johnson says UK should prepare for a no-deal Brexit and 'Australia-style' future – UK politics live12.24pm BST But in case you thought it was all over, some are taking Boris Johnson’s comments as potential posturing. Reuters is reporting tha
  
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• Intu Potteries snapped up by property group following administration

  16-10-2020 11:41 via retailgazette.co.uk
  // Intu Potteries has changed management after the collapse of owner Intu Properties in June
  // Property company MAPP has snapped up the Stoke-on-Trent shopping centreIntu Potteries has become the latest centre to be moved to new management after previous owner Intu fell into administration earlier this year.
  Property company MAPP has snapped up the centre in Stoke-on-Trent, while specialist investment managers APAM will assume asset management responsibilities.
  The shopping centre will continue
  
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• Asos could be hit hard by coming lockdown measures, experts warn

  16-10-2020 11:29 via chargedretail.co.uk
  
  Asos could be hit hard by the second wave of coronavirus lockdowns in the UK, potentially seeing its monumental share price growth reverse, according to experts.
  The online fashion giant has seen its share price grow by 37.9 per cent this year, aided by whopping 329 per cent rise in pre-tax profits and 19 per cent boost in sales during the pandemic.
  Despite its period of rapid growth and subsequent popularity among investors, some have warned that its target market will soon be disproportionatel
  
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• John Lewis to build rental homes at 20 of its UK sites

  16-10-2020 11:19
  
  Retailer’s plan is part of strategy to rebuild profits to £400m within five yearsJohn Lewis is to become a major landlord, aiming to build rental homes at 20 of its sites around the UK as part of a strategy to rebuild profits to £400m within five years.The retailer, which also owns Waitrose, said the new homes could be built above or beside stores or on other land it owns, and would be furnished with products from John Lewis department stores. Residents would also be able to or
  
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• Hammerson reveals only one third of tenants paid rent for Q4

  16-10-2020 10:25 via retailgazette.co.uk
  // Hammerson reports back on quarter rent day with just 38% of UK tenants paying up
  // Shopping centre giant notes an improvement in rents received compared to previous quarter
  // Sale of stake in VIA Outlets given clearance and expected to go ahead in the current quarterShopping centre giant Hammerson said just 38 per cent of its UK tenants had paid rent for the final quarter of the year.
  In an update this week, Hammerson noted the level of fourth quarter collections were higher than at the sam
  
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• John Lewis unveils £200m profit plan

  16-10-2020 10:02
  Employee-owned business will cut prices and costs and aims to become a 70% online retailer
  
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• John Lewis triples cost-cutting target

  16-10-2020 10:02
  Strategic review of employee-owned business announces £300m of cuts and new focus on prices and online sales
  
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• Asda owner EG Group to reassure investors after Deloitte’s abrupt exit

  16-10-2020 09:58 via retailgazette.co.uk
  // Asda owner EG Group will reassure bondholders on Friday after auditor Deloitte’s sudden exit
  // EG Group will also update bondholders on tradingAsda’s new owner EG Group is set to speak to bondholders on Friday, following its auditor Deloitte’s abrupt resignation.
  The billionaire brothers behind petrol station empire EG Group, Zuber and Mohsin Issa are seeking to reassure debt investors over the group’s separation from Deloitte, which came as a result of corporate
  
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• Fortnum & Mason CEO lashes out at new Tier 2 restrictions for London

  16-10-2020 09:57 via retailgazette.co.uk
  // Fortnum & Mason CEO Ewan Venters says new measures will cause “a whole generation to suffer”
  // Outgoing chief says the introduction of Tier 2 will be “deeply dangerous” for the nation
  // Comments come as London, Essex and York prepare for Tier 2 at midnight on FridayFortnum & Mason’s chief executive Ewan Venters has described the Tier 2 restrictions announced for London this weekend as “deeply dangerous” for the prosperity of the nation, acco
  
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• Superdry CFO steps down after just over a year

  16-10-2020 09:22 via retailgazette.co.uk
  // Superdry announces immediate departure of chief financial officer
  // Nick Gresham had been at business for just over a year
  // Retailer will begin search for replacementSuperdry on Friday announced its chief financial officer Nick Gresham had stood down, with immediate effect.
  The newly-installed finance boss officially arrived at Superdry in August last year, having previously worked in the same position at both Wiggle and Oak Furniture Land, as well as finance director of Homebase.READ MORE
  
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• Markets poised for Brexit update, as new Covid restrictions loom - business live

  16-10-2020 08:49
  
  Rolling coverage of the latest economic and financial news, as Boris Johnson prepares an update on Brexit talks 7.49am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.While England gets to grip with new Covid-19 restrictions set to come into force under the government’s new three-tier system, investors are waiting to hear what’s next for Brexit talks. The British government is under pressure to follow scient
  
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• Hamleys tips kissing pups and Lego Super Mario as Christmas hits

  16-10-2020 07:00
  
  Retailer hopes animatronic dogs and a tie-in with video game plumber will entice festive spendersA Super Mario-themed Lego set and “loveable” animatronic pets are predicted to be Christmas bestsellers at the retailer Hamleys, as toymakers try to please both children and adults this year.Hamleys, famous for its flagship store on Regent Street, London, thinks the £50 marriage of everyone’s favourite plumber and Lego will have blockbuster appeal. The battery-powered Present
  
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• Proof is in the pudding: M&S and Waitrose win Christmas food test

  16-10-2020 01:01
  
  Tasters compile league table of items such as turkey, gravy and yule logs from 52 UK stockistsMarks & Spencer and Waitrose have swept the board in an independent taste test of this year’s Christmas food and drink, both clinching first place in three categories of the UK’s festive favourites.M&S was awarded top spot for its Christmas pudding, gravy and frozen turkey in the annual exercise by the Good Housekeeping Institute, while its rival, Waitrose, triumphed in the Christmas
  
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• Waitrose expands trial with Deliveroo

  16-10-2020 01:00 via theretailbulletin.com
  
  Waitrose is extending its on-demand grocery delivery trial with Deliveroo to 25 new shops across the UK. Launched in September across five shops, the 12-week trial... View Article
  
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• Taylor Morris opens flagship Notting Hill store

  16-10-2020 01:00 via theretailbulletin.com
  
  Luxury eyewear brand Taylor Morris has opened a flagship store in the heart of London’s Notting Hill at Golborne Road. The store offers customers access to... View Article
  
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• Superdry chief financial officer to leave business

  16-10-2020 01:00 via theretailbulletin.com
  
  Superdry has announced that Nick Gresham has decided to step down from its board as chief financial officer with immediate effect. The fashion retailer has now... View Article
  
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• Scotch Corner Designer Village strengthens management team

  16-10-2020 01:00 via theretailbulletin.com
  
  The Scotch Corner Designer Village has strengthened its management team with two new appointments. Sarah Hodkinson (pictured) has been hired as retail director while Patrick Hanson-Lowe... View Article
  
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• John Lewis Partnership unveils five-year plan

  16-10-2020 01:00 via theretailbulletin.com
  
  The John Lewis Partnership has unveiled its strategy for growing its John Lewis and Waitrose businesses over the next five years. This will include reaching a... View Article
  
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• Howdens chief financial officer to step down

  16-10-2020 01:00 via theretailbulletin.com
  
  Howdens has announced that Mark Robson will be stepping down from his role as deputy chief executive and chief financial officer at the end of the... View Article
  
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• AO first half revenue climbs by 57%

  16-10-2020 01:00 via theretailbulletin.com
  
  AO World has said it expects its group revenue to rise by around 57% to £715 million in the first half of its financial year. For... View Article
  
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