Retail news

• Sorry Sainsbury's but the pandemic also created a financial windfall | Nils Pratley

  05-11-2020 21:04
  
  Supermarkets should never have been included in rates relief – they stayed open, and enjoyed a boomAnother day, another supermarket chief executive pleading that his company somehow deserves its business rates freebie because it’s had to suffer extra costs in “feeding the nation”. All that hand sanitiser, plus the burden of paying so many staff to shield at home, adds up, don’t you know?Simon Roberts of Sainsbury’s offered other arguments: in the age of Amazon
  
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• Businesses call for end date as lockdown starts

  05-11-2020 20:30 via ft.com
  Operators worried that measures will extend into peak Christmas season and beyond
  
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• Frasers lifts stake in Mulberry

  05-11-2020 19:49 via ft.com
  Mike Ashley’s group now owns 29 per cent of luxury handbag maker
  
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• Mini boom for retail in England as shoppers dash to beat lockdown

  05-11-2020 19:48
  
  Eat and spend spree pushes footfall above 2019 levels for first time in pandemicCoronavirus – latest updatesSee all our coronavirus coverageThe four-day countdown to new coronavirus lockdown restrictions in England from Thursday triggered a mini boom for store and restaurant owners as consumers rushed to buy Christmas gifts and enjoy a last eat-out supper.The dash to the shops meant retail parks in England attracted more customers compared with the same period last year – footfall ro
  
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• Dominic Chappell convicted of tax evasion

  05-11-2020 19:19 via ft.com
  Businessman who bought BHS for £1 in 2015 sentenced to six years in jail
  
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• BHS buyer Dominic Chappell given six years for tax evasion

  05-11-2020 19:12
  
  Ex-bankrupt who bought chain store from Philip Green for £1 guilty of £600,000 evasion Dominic Chappell has been sentenced to six years in jail for evading tax on the £2.2m income he received from his doomed takeover of BHS.The 53-year-old spent hundreds of thousands of pounds on luxury items including a yacht, a holiday to the Bahamas, a Bentley car and some Beretta guns, instead of paying £600,000 due in tax. Continue reading...
  
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• Brexit may reduce our food shipments to Northern Ireland, says Sainsbury's

  05-11-2020 18:47
  
  British government’s lack of clarity on EU trade deal ‘could limit fish, dairy and meat range’Sainsbury’s has warned that the supply of some fish, dairy and meat products to its stores in Northern Ireland could be significantly reduced from January because of Brexit.Simon Roberts, chief executive of the supermarket chain, said on Thursday: “If we don’t get greater clarity on the Northern Irish situation then we will see a restriction on the ranges of products
  
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• Alibaba plays down Ant crisis as ecommerce growth slows

  05-11-2020 18:15 via ft.com
  Slowdown in marketplace businesses was offset by growth in cloud computing
  
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• Alibaba downplays Ant crisis as ecommerce growth slows

  05-11-2020 18:15 via ft.com
  Slowdown in marketplace businesses was offset by growth in cloud computing
  
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• “Tone deaf” WHSmith scraps CEO Carl Cowling’s £5m share windfall

  05-11-2020 17:12 via retailgazette.co.uk
  // WHSmith ditches plans to give CEO Carl Cowling a £5m share windfall after investor backlash
  // The plan was to aggregate three years-worth of LTIP awards into a single grant for CowlingWHSmith has reportedly scrapped its chief executive Carl Cowling’s £5 million share windfall after City backlash.
  The retailer told its investors that it wanted to grant Cowling shares worth more than £4.5 million, Sky News reported.
  It has now ditched all plans to give its boss a s
  
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• J Sainsbury/Argos: super saver shares

  05-11-2020 17:11 via ft.com
  Cutting costs to invest in lower prices should keep the UK grocer competitive
  
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• New strategies for managing prices to maximise profitability

  05-11-2020 15:45 via retailgazette.co.uk
  Setting the optimal price for products has been a challenge for retailers that lack formal, centralised software solutions for many years, but the current crisis has brought to the surface just how inadequate a mix of largely manual and departmentally disintegrated processes really are.
  With demand patterns significantly altered, as a result of an accelerated move to shopping online and the emergence of new behaviours from consumers battling to cope during the current crisis, our new report come
  
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• Chancellor Rishi Sunak extends furlough scheme until end of March

  05-11-2020 15:02 via retailgazette.co.uk
  // Chancellor Rishi Sunak extends coronavirus job retention scheme until end of March
  // The scheme covers up to 80% of employees’ wages up to £2500 a month
  // A review of the policy is currently scheduled for JanuaryChancellor Rishi Sunak has extended the government’s coronavirus job retention scheme until the end of March.
  Sunak said the extended support scheme will continue to cover up to 80 per cent of employees’ wages up to £2500 a month.
  A review of the policy
  
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• Santa’s Grotto to go virtual this year as retailers cancel Christmas events

  05-11-2020 14:32 via chargedretail.co.uk
  
  Santa’s Grotto will go online this year as retail outlets across the country are forced to cancel traditional Christmas events.
  Families across the UK are reportedly flocking to book virtual appointments with Santa as retailers like Selfridges, Harrods and Fortnum and Mason, which usually host St Nicholas, are forced to shut under the country’s second national lockdown.
  Companies like Santa’s Grotto Live, which offer Zoom calls with Santa, have seen bookings jump more than 1000
  
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• High street retailers reassure investors over English lockdown closures

  05-11-2020 14:26
  
  Joules and Superdry say online sales are booming, and Dunelm talks up its adaptabilityCoronavirus – latest updatesSee all our coronavirus coverageA slew of high street names have lined up to reassure the City that their finances can withstand the sales disruption caused by a second lockdown in England.The fashion brands Joules and Superdry pointed to booming web sales, up 35% and 52% respectively, as they updated investors on the impact of having to close their stores for a month of the Ch
  
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• Big Interview, Martin Reiter, Head of Europe, Wayfair

  05-11-2020 14:00 via retailgazette.co.uk
  Martin Reiter is optimistic. As head of Europe for online homewares and furniture retailer Wayfair, he believes it’s “well-positioned” to succeed amid the ongoing Covid-19 crisis.
  Although a US-based business, Wayfair has increased its brand awareness by 70 per cent in the UK, and Reiter hopes to amplify the retailer by adding new ranges in the run up to the Christmas trading period.
  “We’ve seen an increase in revenues, as have most furniture and homeware businesse
  
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• Superdry revenue falls as retailer prepares for Black Friday

  05-11-2020 11:49 via retailgazette.co.uk
  // Superdry posts lower first-half revenue as the retailer temporarily shuts stores for a second lockdown
  // The fashion retailer said it is now focusing on strengthening its online operations
  // From November 5, non-essential retail in England will have to close until at least December 2Superdry has reported a lower first-half revenue after Covid-19 restrictions resulted in lower footfall, as the retailer temporarily closes stores for the second lockdown in England.
  For the 26 weeks ended Octob
  
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• Ocado says patent infringement case will harm “public health, safety and welfare” of Americans

  05-11-2020 11:48 via chargedretail.co.uk
  
  Ocado has slammed US authorities’ decision to investigate its technology stating it could harm “public health, safety and welfare”.
  On Monday the US International Trade Commission (ITC) announced plans to open a formal investigation into Ocado which would prevent it bringing any robots or other key technology into the country.
  The ITC is launching the investigation into Ocado’s Smart Platform (OSP) technology in response to claims from Norwegian tech firm AutoStore that i
  
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• DHS says deliveries will continue despite national lockdown

  05-11-2020 11:03 via retailgazette.co.uk
  // DFS says all English, Welsh and Republic of Ireland showrooms are currently closed under lockdown measures but deliveries will continue.
  // Furniture retailer says it would temporarily transfer some showroom staff to support remote web sales.
  // DFS adds that it doesn’t expect closures to impact trading in first halfIn a covid-19 update posted on Thursday, DHS said manufacturing and deliveries would continue, despite all of its showrooms in England, the Republic of Ireland and Wales bei
  
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• DFS says deliveries will continue despite national lockdown

  05-11-2020 11:03 via retailgazette.co.uk
  // DFS says all English, Welsh and Republic of Ireland showrooms are currently closed under lockdown measures but deliveries will continue.
  // Furniture retailer says it would temporarily transfer some showroom staff to support remote web sales.
  // DFS adds that it doesn’t expect closures to impact trading in first halfIn a Covid-19 update posted on Thursday, DFS said manufacturing and deliveries would continue, despite all of its showrooms in England, the Republic of Ireland and Wales bei
  
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• Mike Ashley drops out of Debenhams sale

  05-11-2020 10:24 via retailgazette.co.uk
  // Mike Ashley withdraws from list of bidders to acquire Debenhams
  // The billionaire refused to match the £300 million price tag set by the retailer’s advisers
  // Frasers Group finance boss Chris Wootton wrote to chair of BEIS committee, saying that the asking price was “impossible”Mike Ashley has reportedly withdrawn from the running to acquire Debenhams after refusing to match the £300 million price tag set by the retailer’s advisers.
  Debenhams will now fac
  
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• Joules touts 35% growth in online sales year-on-year

  05-11-2020 10:09 via retailgazette.co.uk
  // Joules posts trading update as all stores go into four-week closure
  // Lifestyle brand says despite lockdown, it is on track to meet board expectations by end of FY
  // Online revenue accounted for 70% of group’s salesJoules said stores have continued to perform ahead of board expectations in its financial year to date, as it closes all of its stores in England for the four-week national lockdown.
  Reporting back on the first 22 weeks of its financial year to May 31, Joules said its perfo
  
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• Asos hires first ever chief commercial officer

  05-11-2020 09:53 via retailgazette.co.uk
  // Asos hires José Antonio Ramos Calamonte in newly-created role of chief commercial officer
  // He joins from Portuguese fashion company Salsa Jeans, where he held the position of CEO
  // Calamonte also led on commercial strategy for retailers Esprit, Carrefour Spain and InditexAsos has appointed a new chief commercial officer in an effort to ensure the company has “the strategic capability required for the next stage of growth”.
  The online retailer has drafted in José A
  
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• Sainsbury’s looks to cut 3500 jobs and close food counters

  05-11-2020 09:48 via retailgazette.co.uk
  // Around 3,500 Sainsbury’s colleagues could lose their roles
  // Loss before tax came in at £137 million for the period
  // Total retail sales rose 7.1 per cent for the half yearSainsbury’s on Thursday announced that it could cut around 3,500 of its workforce as it looks to make a raft of changes across its stores.
  With newly installed chief executive Simon Roberts at the helm, Sainsbury’s said it would deliver a “step change in efficiency” though reductions in
  
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• Up to 3,500 jobs at risk at Sainsbury's as firm cuts 400 Argos stores

  05-11-2020 09:13
  
  Chain to close all meat, fish and deli counters and move 150 Argos stores into supermarkets to slash costsUp to 3,500 jobs are at risk at Sainsbury’s as the supermarket closes more than 400 standalone Argos stores and cuts all meat, fish and deli counters.The supermarket said about 150 Argos stores would be moved into its supermarkets to crack down on costs. Related: Sainsbury's among five UK companies announcing job losses totalling 7,200Continue reading...
  
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• Sainsbury's to cut up to 3,500 jobs as firm closes 400 Argos stores

  05-11-2020 09:13
  
  Chain to close all meat, fish and deli counters and move 150 Argos stores into supermarkets to slash costsUp to 3,500 jobs are at risk at Sainsbury’s as the supermarket closes more than 400 standalone Argos stores and cuts all meat, fish and deli counters.The supermarket said about 150 Argos stores would be moved into its supermarkets to crack down on costs. Related: Sainsbury's among five UK companies announcing job losses totalling 7,200Continue reading...
  
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• Sainsbury's to cut up to 3,500 jobs and closes over 400 Argos stores

  05-11-2020 09:13
  
  All meat, fish and deli counters to close and 150 Argos stores moved into supermarketsUp to 3,500 jobs are expected to go at Sainsbury’s as the supermarket closes about 420 standalone Argos stores as well as all meat, fish and deli counters.The retailer, which employs 172,000 people, said about 150 Argos stores would be moved into its supermarkets as part of an effort to save more than £600m in costs over the next three years. Related: Sainsbury's among five UK companies announcing j
  
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• Sainsbury's to cut up to 3,500 jobs and close over 400 Argos stores

  05-11-2020 09:13
  
  All meat, fish and deli counters to close and 150 Argos stores moved into supermarketsUp to 3,500 jobs are expected to go at Sainsbury’s as the supermarket closes about 420 standalone Argos stores as well as all meat, fish and deli counters.The retailer, which employs 172,000 people, said about 150 Argos stores would be moved into its supermarkets as part of an effort to save more than £600m in costs over the next three years. Related: Sainsbury's among five UK companies announcing j
  
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• Sainsbury's to cut up to 3,500 jobs and close bulk of Argos stores

  05-11-2020 09:13
  
  All meat, fish and deli counters to close and 150 Argos stores moved into supermarketsUp to 3,500 jobs are expected to go at Sainsbury’s as the supermarket closes the bulk of its standalone Argos stores as well as all its meat, fish and deli counters.The retailer, which employs 172,000 people, said about 420 of its Argos stores would close over the next three years, leaving just 101 standalone stores compared with 845 when Sainsbury’s paid £1.4bn for Argos in 2016. Related: Sai
  
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• Sainsbury’s to close most Argos stores

  05-11-2020 09:08 via ft.com
  Standalone shops to be replaced by more collection points in supermarkets
  
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• Footfall plummets 31.5% across retail destinations in October

  05-11-2020 08:58 via retailgazette.co.uk
  // Springboard reports footfall down at all retail destinations in October
  // High streets suffered the worst blow, down almost 40% year-on-year
  // Looking ahead to peak trading, Springboard warns: “the spending lost from stores in these key trading weeks will simply not be recovered”Footfall dropped by 31.5 per cent year-on-year across retail destinations according to the latest results from Springboard.
  High streets were the hit the hardest, dropping 39.8 per cent year-on-year, wit
  
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• Lockdown will be tough for shops like mine, but there remains a shred of hope | Suzy Prince

  05-11-2020 08:00
  
  I feared the worst for my bookshop. Fortunately, for people here in Manchester, shopping locally is now an act of defianceCoronavirus – latest updatesSee all our coronavirus coverageWe are all aware of what a challenging time it is right now for the retail and hospitality sectors. Many high streets and city centres were struggling under the weight of the shift to online shopping, among many other pressures, even before the pandemic came along to wreak further havoc.I co-own a bookshop in L
  
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• Ocado says robot patent case ‘could harm public health’

  05-11-2020 06:00 via ft.com
  UK grocer faces investigation by US ITC that threatens rollout with supermarket group Kroger
  
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• How can shopping centres recover from the pandemic?

  05-11-2020 05:30 via ft.com
  
  Proposals range from conversion into flats and offices to new types of retailer lease
  
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• England lockdown extension would be 'catastrophic for struggling retailers'

  05-11-2020 01:01
  
  Trade body warns billions in Christmas sales at risk, leading potentially to more job lossesCoronavirus – latest updatesSee all our coronavirus coverageAny extension to the four-week English lockdown would be “catastrophic” for struggling retailers who risk losing billions of pounds in Christmas sales, the industry’s trade body has warned.About 363,000 specialist shops will remain shuttered in England from Thursday as new government restrictions kick in. The British Retai
  
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• SURVEY: Can you help us assess the New Retail Journey?

  05-11-2020 01:00 via theretailbulletin.com
  
  Across Europe the retail landscape has been reshaped as a result of COVID-19. Our friends at Critizr need your help to understand how Customer journeys have... View Article
  
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• Sainsbury’s to cut 3,500 jobs

  05-11-2020 01:00 via theretailbulletin.com
  
  Sainsbury’s has announced plans to cut 3,500 jobs with the losses coming mainly from its Argos chain. In its half year results statement, the retailer said... View Article
  
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• Retail footfall down by a third in October

  05-11-2020 01:00 via theretailbulletin.com
  
  New figures have shown that footfall in UK retail destinations remained a third lower at the end of last month compared to October 2019. The data... View Article
  
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• Retail footfall down a third in October

  05-11-2020 01:00 via theretailbulletin.com
  
  New figures have shown that footfall in UK retail destinations remained a third lower at the end of last month compared to October 2019. The data... View Article
  
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• Joules beats expectations

  05-11-2020 01:00 via theretailbulletin.com
  
  Lifestyle clothing brand Joules has said trading in the first 22 weeks of its new financial year has been better than expected. The company said the... View Article
  
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• John Lewis Partnership to cut up to 1,500 roles

  05-11-2020 01:00 via theretailbulletin.com
  
  The John Lewis Partnership is to cut up to 1,500 head office roles as part of plans to become a “leaner, simpler and faster” business. The... View Article
  
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• John Lewis Partnership to cut up to 1,500 head office roles

  05-11-2020 01:00 via theretailbulletin.com
  
  The John Lewis Partnership is to cut up to 1,500 head office roles as part of plans to become a “leaner, simpler and faster” business. The... View Article
  
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• Dunelm says new lockdown restrictions are unexpected and inconsistent

  05-11-2020 01:00 via theretailbulletin.com
  
  Dunelm has said it has continued to perform well since its last update on 15 October with total sales continuing to grow in line with its... View Article
  
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• Bennetts makes a virtual return

  05-11-2020 01:00 via theretailbulletin.com
  
  The Bennetts department store has returned as a virtual business with the launch of a new retail website. Billed as the world’s oldest department store, the... View Article
  
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• ASOS appoints chief commercial officer

  05-11-2020 01:00 via theretailbulletin.com
  
  Online fashion retailer ASOS has appointed José Antonio Ramos Calamonte to the newly created role of chief commercial officer.   He will join the company from... View Article
  
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