Retail news

• Ocado's £200m robot deal should impress foreign supermarkets | Nils Pratley

  02-11-2020 21:05
  
  The delivery outfit’s takeover of US firm Kindred Systems should help with sales of its warehouse logisticsOcado’s value improved by £1.3bn, or 8%, on Monday, an impressive gain. But one can safely say the jump wasn’t driven by the unremarkable news that the sheds and vans are still running at full capacity. The extra activity will produce £20m more profit for Ocado this year than expected in September – useful but not game-changing.Rather, the fizz related to
  
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• CBI boss says England lockdown means 'bleak midwinter' for UK firms

  02-11-2020 19:28
  
  Carolyn Fairbairn said second lockdown will be worse than the first for many businessesCoronavirus – latest updatesSee all our coronavirus coverageBritish companies face the prospect of a “bleak mid-winter” according to the boss of the UK’s biggest lobby group, after high-street retailers, pub chains and airlines warned of the impact a second lockdown in England will have on their businesses.Carolyn Fairbairn, the director general of the Confederation of British Industry
  
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• 5 minutes with Stephanie Capuano, Founder, 31st State

  02-11-2020 17:49 via retailgazette.co.uk
  Tell me a bit about the 31st State story.
  31st State was launched in September 2017. California (the 31st State) is my home state – but it’s more than that – it’s an outlook, a state of mind and an attitude that I wanted to bring to this brand. Clean, open minded, fresh-faced and well accepted in setting trends globally, California is a global force in fashion, culture and youth, which is at the heart of 31st State.
  Why was it launched?
  As a mother of two teenage boys (a
  
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• British business warns of ‘devastating’ lockdown hit

  02-11-2020 17:14
  Shares in consumer-facing groups plunge and Primark expects sales blow as fresh curbs loom
  
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• New Look landlords challenge CVA as retailer faces new national lockdown

  02-11-2020 17:13 via retailgazette.co.uk
  // New Look landlords challenge CVA proposals
  // British Land and Land Securities are among the landlords that have challenged the CVA
  // The CVA was approved by creditors in SeptemberNew Look landlords have challenged its CVA proposals, placing fresh doubt on the fashion retailer’s chances of survival.
  British Land and Land Securities are among the landlords that have challenged the CVA, which was approved by creditors in September.
  However, the statutory challenge period ran until the mi
  
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• Sweaty Betty seeks investor to value company at £250m

  02-11-2020 15:46 via retailgazette.co.uk
  // Sweaty Betty seeks investor after rising demand in athleisurewear
  // The retailer has drafted in Goldman Sachs to consider the possibility of an investor
  // The business already counts US-based global investor L Catterton among its backersSweaty Betty is reportedly seeking further investment to benefit from the ongoing demand for athleisure during the Covid-19 pandemic.
  The retailer has drafted in Goldman Sachs to consider the possibility of an investor, which could value the busine
  
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• Ocado expects bigger profits as Covid fuels online grocery demand

  02-11-2020 15:29
  
  Supermarket delivery firm that offers M&S food in line to make more than £60mCoronavirus – latest updatesSee all our coronavirus coverageOcado has sharply raised its forecast for full-year profits as the Covid-19 pandemic drives a surge in online food shopping.The company said underlying profits at its Ocado Retail division, which began selling Marks & Spencer food in September, were now expected to be more than £60m, compared with expectations of £40m less than t
  
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• First UK lockdown saw 16,000 ecommerce businesses created

  02-11-2020 15:06 via chargedretail.co.uk
  
  The first lockdown in the UK brought a surge in online entrepreneurs, with nearly 16,000 ecommerce businesses created between March and July this year.
  Research published by the Royal Mail said 315,000 companies were incorporated in the UK during lockdown, up 7 per cent from the same period in 2019.
  In the second quarter of 2020, from April to June, 176,000 start-ups were recorded, the highest for any second quarter on record.
  READ MORE: Royal Mail to create 33,000 Christmas temp jobs amid
  
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• Retail, hospitality and travel firms fear heavy losses in English Covid lockdown

  02-11-2020 14:51
  
  Executives have also criticises the government’s handling of the announcementCoronavirus – latest updatesSee all our coronavirus coverageHigh-street retailers, pub chains and airlines are among the companies to warn of the impact the surprise imposition of a second lockdown in England will have on their businesses.The new restrictions in England mean that non-essential shops and all pubs and restaurants will be forced to close from Thursday until at least 2 December. Domestic and int
  
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• Welsh Gov’t says it will ease lockdown from next week

  02-11-2020 14:12 via retailgazette.co.uk
  // Welsh First Minister says he will not extend Wales’ firebreak lockdown beyond Nov 9
  // Wales had entered a 17-day lockdown on Oct 23, and it will not run alongside the English lockdown starting Nov 5
  // The end of the lockdown in Wales will mean non-essential retailers will be able to reopenThe Welsh Government will not extend Wales’s firebreak lockdown next week, the First Minister has said.
  Mark Drakeford said his decision to impose a “short and sharp” 17-day lockdow
  
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• Stanfords travel bookshop launches crowdfunding project as it fights for survival

  02-11-2020 13:44
  
  Beloved London travel and map specialist has launched an online scheme to stave off closureIt’s a wet autumnal day, a second lockdown is looming, and like many in the UK I’m dreaming of faraway shores, sunny uplands and wild adventures. Anything other than the unholy pairing of pandemic plus British winter.My bookshelves are well-equipped to assist in my fantasies, bulging with reminders of travels past: every country map for motorcycling the Pan-American Highway, a guide to trekking
  
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• Shares in retailers tumble after lockdown #2 announcement

  02-11-2020 13:27 via retailgazette.co.uk
  // Lockdown 2 sends shares in retailers, pubs and travel firms down
  // JD Sports, Quiz, Next, Superdry, Ted Baker, Burberry, WHSmith and Frasers Group all took a battering
  // However, shares in essential retailers like Ocado, Tesco, Sainsbury’s and B&Q owner Kingfisher saw a boostShares in retailers took a battering on the London Stock Exchange this morning as investors reacted to the government’s weekend announcement for a month-long lockdown in England.
  JD Sports, Quiz, Next, C
  
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• Sainsbury’s new CEO Simon Roberts plots sale of banking arm

  02-11-2020 13:15 via retailgazette.co.uk
  // Sainsbury’s explores a sale option for its banking arm
  // New Sainsbury’s CEO Simon Roberts is probing potential buyers of the bankSainsbury’s has reportedly begun exploring a sale of its banking arm it launched in 1997, as low interest rates reduce its prospects of making a recovery from the business.
  The Big 4 grocer’s new chief executive Simon Roberts, who took the helm earlier this year, is probing potential buyers of the bank, which holds more than two millio
  
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• Footfall in run up to Christmas forecast to drop 62% due to lockdown #2

  02-11-2020 12:40 via retailgazette.co.uk
  // Springboard forecasts that over the 6 weeks from Nov 22 to December 22, footfall will be down 62% Y-o-Y
  // This is a drastic change from the original Xmas forecast of a 32.7% decline, in light the second lockdown announcement
  // Between Nov 5 % Dec 2, footfall across England is set to average -78.8% with high streets hit hardest with -87.3%Turmoil on the high street is set to continue through the pivotal Christmas and Black Friday trading period as footfall looks set to slump dramatically com
  
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• Ocado raises FY expectations, announces nearly $300m of new acquisitions

  02-11-2020 12:06 via chargedretail.co.uk
  
  Ocado has announced the proposed acquisitions of Kindred Systems and Haddington Dynamics in two deals worth $287 million.
  Kindred Systems was described by Ocado as an “advanced piece-picking robotics company”, and set to be acquired by the online grocery platform for $262 million, subject to closing adjustments.
  Founded in 2014 and based in Toronto and San Francisco, Kindred Systems designs, supplies and services piece-picking robots for ecommerce and order fulfilment.
  READ MORE:&nbs
  
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• Superdry appoints interim chief financal officer

  02-11-2020 11:24 via retailgazette.co.uk
  // Superdry hires Benedict Smith as interim CFO
  // He replaces Nick Gresham, who left last month after just over a year in the CFO role
  // Superdry will continue to search for a permanent replacementSuperdry has announced the appointment of Benedict Smith as interim chief financial officer in the wake of Nick Gresham stepping down from the role last month.
  Smith’s tenure in the role begins today.
  Currently a non-executive director for McColl’s, he has previously held chief financial
  
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• Westfield owner warns of second lockdown affecting footfall recovery

  02-11-2020 11:18 via retailgazette.co.uk
  // Westfield parent company Unibail-Rodamco-Westfield posts footfall recovery in third quarter
  // The shopping centre group saw UK like-for-like sales rise 30.7% for first 9 months of 2020
  // Unibail said it is 72% through the negotiation process with tenantsUnibail-Rodamco-Westfield (URW) has reported a recovery in footfall in its third quarter as European centres were open and tenant sales continued to rise.
  The Westfield owner said its like-for-like sales rose by 30.7 per cent in the UK
  
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• Business warns of ‘devastating’ lockdown hit

  02-11-2020 10:40
  Chancellor promises to increase help for self-employed but fails to say when restrictions will be lifted
  
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• Mike Ashley lashes out after being “excluded” from Debenhams auction

  02-11-2020 10:00 via retailgazette.co.uk
  // Mike Ashley has expressed anger after being frozen out of the Debenhams auction
  // Restructuring firm Hilco is preparing to start liquidating parts of the business
  // Frasers Group and lawyers have spent the past week writing to investment bank LazardMike Ashley has reportedly lashed out after being excluded from the auction of Debenhams, as restructuring firm Hilco begins liquidating parts of the business.
  Frasers Group owner Ashley and his lawyers have spent the past week writing to in
  
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• Companies warn over financial cost of national lockdown

  02-11-2020 09:36
  Businesses scramble to put staff back on furlough schemes
  
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• Companies warn over financial cost of English lockdown

  02-11-2020 09:36
  Businesses scramble to put staff back on furlough schemes
  
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• Ocado lifts profit forecast as pandemic sends shoppers online

  02-11-2020 09:30
  UK food retailer announces acquisition of 2 US robotics companies expected to boost revenues in next financial year
  
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• Ocado lifts forecast as pandemic sends shoppers online

  02-11-2020 09:30
  Acquisition of US robotics groups expected to boost revenues in next financial year
  
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• Furlough scheme extension should’ve happened earlier, critics say

  02-11-2020 09:29 via retailgazette.co.uk
  // Extension of furlough scheme in England should’ve happened earlier, critics say
  // Workers on furlough will continue to receive 80% of salaries for the second lockdown period ending Dec 2
  // The furlough scheme was initially due to end Oct 31 to be replaced by a less generous Job Support SchemeThe government’s extension of the furlough scheme in England should have happened a long time ago, political and business leaders say.
  Prime Minister Boris Johnson said the government would
  
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• Primark owner to take £375m sales hit from 2nd Covid lockdown

  02-11-2020 09:23 via retailgazette.co.uk
  // Primark owner AB Foods expects to take £375m hit in sales amid the latest lockdown measures
  // It says 57% of Primark selling space will be temporarily closed once lockdown returns for a month from Thurs
  // AB Foods also told shareholders that all orders placed with Primark suppliers will be honouredThe parent company of Primark has said it expects to take a £375 million hit from the loss of sales amid the latest enforced closures amid the second wave of the Covid-19 pandemic.
  Ass
  
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• Indie bookshops team up to take on Amazon

  02-11-2020 09:10 via retailgazette.co.uk
  // More than 150 UK bookshops have signed up to serve customers through Bookshop.org
  // The online platform’s aim is to take on Amazon and provide an alternative for “socially conscious” shoppers
  // The site first launched in the US in January, and launches in the UK todayIndependent bookshops have joined forces to back the launch of a new online retailer taking on Amazon in the run-up to Christmas.
  More than 150 UK bookshops have signed up to serve customers through Bookshop.o
  
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• Tesco price jumps between online order and delivery

  02-11-2020 08:00
  
  I checked out a whisky promotion but the invoice had doubled when it arrivedI ordered two bottles of whisky online from Tesco that were on special promotion. The total price was £50, with a £4.50 delivery charge. The order was delivered five days later in the first available delivery slot Tesco offered me.Three days later, £83.40 had been debited from my bank account to Tesco. That is £28.90 more than the Tesco invoice stated – equivalent to a 53% increase. I then n
  
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• Very launches Christmas campaign

  02-11-2020 01:00 via theretailbulletin.com
  
  Very.co.uk has launched a new Christmas campaign as part of its new brand platform, ‘Life is this Very moment’. Created by Grey London, the campaign features... View Article
  
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• Superdry hires interim chief financal officer

  02-11-2020 01:00 via theretailbulletin.com
  
  Superdry has appointed Benedict Smith as chief financial officer on an interim basis. The news follows the company’s announcement last month that Nick Gresham had stepped... View Article
  
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• Primark prepares to lose £375 million worth of sales due to lockdowns

  02-11-2020 01:00 via theretailbulletin.com
  
  Primark owner Associated British Foods has said the fashion retailer is set to suffer £375 million in lost sales following enforced store closures due to the... View Article
  
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• Ocado raises full year profit forecast as it acquires two tech firms

  02-11-2020 01:00 via theretailbulletin.com
  
  Ocado has said trading within its joint venture with Marks & Spencer has remained strong throughout the fourth quarter of its current financial year. As a... View Article
  
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• Lululemon makes leadership appointments to drive growth

  02-11-2020 01:00 via theretailbulletin.com
  
  Lululemon Athletica has announced a series of new leadership appointments as part of its growth strategy. Celeste Burgoyne has been promoted to enable her to become... View Article
  
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• London’s West End warns of ravaging impact of lockdown

  02-11-2020 01:00 via theretailbulletin.com
  
  The organisation representing retailers across London’s West End shopping district has warned that the new Covid-19 lockdown will have a ravaging impact on retailers who are... View Article
  
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• Black Friday – How to Conquer Virtual Retail Woes with AI and Messaging

  02-11-2020 01:00 via theretailbulletin.com
  
  With Black Friday this year set to be unlike any other Iain Banks, Group Vice President of TTEC EMEA looks at how Retailers can drive better... View Article
  
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• AO swings to half-year profit

  02-11-2020 01:00 via theretailbulletin.com
  
  Electricals retailer AO has posted a first half profit after revenue climbed by 53.2% to £717 million. In the six months to 30 September, the company... View Article
  
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