Retail news

• FTSE 100 recovers to highest level since June after vaccine unveiled

  10-11-2020 20:45
  
  Promising clinical data from Pfizer and BioNTech help the index to a £28bn one-day gainOptimism that a mass rollout of Covid-19 vaccines will lead to an economic recovery lifted stocks in London again on Tuesday, to their highest closing level in over four months.London’s FTSE 100 index of blue-chip shares rallied by nearly 1.8% to finish at 6,296 points, the highest close since 23 June. This added £28bn to the index’s value, taking its gains so far this week to nearly &p
  
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• 5 minutes with Fola Akinsanya, Founder, Lolak

  10-11-2020 19:10 via retailgazette.co.uk
  Congrats on the recent launch of Lolak!
  Thank you! It mostly feels surreal, but in the moments I actually believe it’s all really happening, it feels absolutely fantastic.
  Tell me a bit about the Lolak story.
  Truthfully, I built Lolak because I realised that I had a major shopping addiction, like most young people today. I was the kind of shopper who spent anywhere up to £400 a week on new clothes that I either never wore, or wore once or twice before leaving them to rot in the botto
  
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• America’s biggest mall operator gets go-ahead for $1.75bn JCPenney deal

  10-11-2020 17:37
  Simon Property Group and Brookfield win approval to buy US store chain out of bankruptcy
  
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• Amazon faces billions in fines after EU files competition charges over third-party sellers

  10-11-2020 16:58 via retailgazette.co.uk
  // Amazon faces potential fine worth billions after the EU slapped it with competition charges
  // The European Commission’s allegations pertain to Amazon to using data to gain an advantage over the third-party sellers
  // Amazon has rejected the accusationsAmazon is facing a potential fine worth billions after the EU slapped it with competition charges over allegations it used data to gain an advantage over the third-party sellers.
  The European Commission filed charges to the US tech giant,
  
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• John Lewis steps up online capabilities with Commercetools

  10-11-2020 15:21 via chargedretail.co.uk
  
  John Lewis announces a new partnership with Commercetools as it looks to “supercharge” its investment in online.
  The department store partnership this morning revealed it has selected Commercetools to provide ecommerce support and capabilities for its website.
  With online sales up 73 per cent in the six months from January 26 to July 25, John Lewis has been working behind the scenes to ‘re-platform’ the johnlewis.com website, including moving its basket and chec
  
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• Amazon charged with abusing EU competition rules

  10-11-2020 15:20
  
  US tech firm accused by Brussels of using data it collects on retailers Amazon has been charged by the European commission with using the sales data of independent retailers selling through its site to illegally gain an advantage in the European marketplace.The US tech firm and online retailer was accused by Brussels of using the information it collects on retailers to focus its own efforts on the bestselling products with the biggest profit margins. Continue reading...
  
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• England's bookshops should be classed as essential, booksellers argue

  10-11-2020 14:50
  
  Booksellers Association appeals to government to reopen England’s bookshops in second lockdown, as supermarkets and newsagents allowed to keep selling booksThe Booksellers Association has called on the government to classify bookshops as essential retailers during England’s second lockdown, as other retailers that sell books like WH Smith and supermarkets get to remain open.In a letter to government ministers today, the BA’s managing director Meryl Halls described bookshops as
  
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• M&S launches guide dog awareness training after blind shopper turned away

  10-11-2020 14:49 via retailgazette.co.uk
  // M&S launches guide dog awareness online training course for staff, with help of Royal National Institute of Blind People
  // It comes after a customer and his guide dog was refused access to an M&S store in London earlier this year
  // The training also offers advice for staff on hidden disabilities and basic sign language for deaf customersMarks & Spencer has launched guide dog awareness training for its staff after a customer was refused access to the retailer’s store in cen
  
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• Online retailers “encouraging people with mental health problems into debt”

  10-11-2020 14:32 via retailgazette.co.uk
  // Money & Mental Health Policy Institute says online retailers are leaving many with mental health issues at risk of further debt
  // Around 3m people with mental health problems have struggled to stay in control of their spending during lockdown
  // This is in part due to online retailers’ buy now, pay later deals, “one-click” purchases & pushy personalised marketingMany online retailers are leaving people with mental health problems at risk of accumulating signifi
  
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• Grocery sales surge 9.4% on the back of record online sales

  10-11-2020 14:02 via retailgazette.co.uk
  // UK grocery sales surge 9.4% in October on the back of record online grocery shopping
  // Kantar found that 5.9m Brits bought food online last month, but there was limited evidence of panic-buying
  // For the 12-week period ending November 1, UK grocery sales jumped 9.3% to £29.4mUK grocery sales jumped by 9.4 per cent during the four weeks to November 1 as record numbers of Brits shopped online, according to new figures.
  The latest supermarket data from Kantar showed a record-breaking 5.9
  
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• UK sales of scented candles soar as Covid restrictions tighten

  10-11-2020 13:26
  
  Britons buying more premium food but Kantar says there is no evidence of stockpilingCoronavirus – latest updates
  See all our coronavirus coverageSales of scented candles and retailers’ premium food ranges have soared as cold weather and coronavirus restrictions encourage Britons to hunker down for winter.While the tightening of government rules has not led to a repeat of the stockpiling in the spring, they are still having a big impact on shoppers’ mindsets. Sales of scented ca
  
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• Supermarkets’ super struggle to make money from home delivery boom

  10-11-2020 11:42
  
  New technology and delivery apps could help make online deliveries profitable
  
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• Addison Lee unveils high street delivery service

  10-11-2020 11:20 via chargedretail.co.uk
  
  Addison Lee on Tuesday revealed the launch of AL Request, allowing people to order everyday items such as groceries and flowers via a click and collect service.
  In a move the London-based private hire taxi and courier company said meant ‘bringing the high street home’, Addison Lee says it is meeting business and passenger needs during the pandemic, AL Request will be available through its digital channels.
  After seeing demand for its courier service rise by 30 per cent since March, A
  
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• Timberland owner VF Corp to buy Supreme in £1.5bn deal

  10-11-2020 10:58 via retailgazette.co.uk
  // Supreme to be bought by VF Corporation in £1.5 billion deal
  // Supreme founder James Jebbia and its senior leadership team will remain with the company
  // VF Corporation owns Vans, The North Face and TimberlandVF Corporation, which owns Vans, The North Face and Timberland, is set to acquire streetwear brand Supreme in a $2.1 billion (£1.5 billion) deal.
  The transaction will be completed by the end of 2020, subject to regulatory approval.
  Supreme founder James Jebbia and its senior
  
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• Timberland owner VF Corp buys Supreme in £1.5bn deal

  10-11-2020 10:58 via retailgazette.co.uk
  // Supreme to be bought by VF Corp in £1.5bn deal
  // Supreme founder James Jebbia and its senior leadership team will remain with the business
  // VF Corp owns Vans, The North Face & TimberlandVF Corp, which owns Vans, The North Face and Timberland, is set to acquire streetwear brand and retailer Supreme in a $2.1 billion (£1.5 billion) deal.
  The transaction will be completed by the end of 2020, subject to regulatory approval.
  Supreme founder James Jebbia and its senior leadership
  
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• New Look completes refinancing scheme

  10-11-2020 10:14 via retailgazette.co.uk
  // New Look completes refinancing scheme
  // The scheme includes a debt-for-equity swap to reduce debt from £500m to £100m
  // There is also a £40m cash injection to help steer New Look’s business planNew Look has announced that it has completed a major restructuring of its finances to reduce its costs after sales were hit by the coronavirus pandemic.
  The fashion retailer confirmed that in light of the High Court’s sanction of New Look Financing PLC’s Scheme of
  
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• Landsec swings to £835m half-year loss

  10-11-2020 09:49 via retailgazette.co.uk
  // Landsec said its recovery was affected by local restrictions
  // Second national lockdown led to closures of non-essential services
  // Landsec owns owns Trinity Leeds shopping centre and Bluewater shopping centreLandsec has swung to an £835 million loss as local Covid-19 restrictions continued to affect its recovery pre-lockdown.
  The retail landlord, which owns Trinity Leeds shopping centre and Bluewater shopping centre posted the loss for the six months to September 30, higher than its
  
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• EU hits Amazon with antitrust charges over merchant data

  10-11-2020 09:45
  Competition commissioner Margrethe Vestager will announce a formal case on Tuesday
  
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• EU hits Amazon with antitrust charges

  10-11-2020 09:45
  Competition commissioner Margrethe Vestager will announce a formal case on Tuesday
  
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• EU accuses Amazon of breaching antitrust rules

  10-11-2020 09:45
  Vestager says group uses non-public data it gathers on sales on its website to inform its own-label products
  
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• Tesco to reward workers with 10% bonus this Christmas

  10-11-2020 09:19 via retailgazette.co.uk
  // Tesco to pay workers a 10% Christmas bonus
  // Hourly-paid staff will receive a 10% bonus for all hours worked between December 13 2020 and January 9 2021
  // Temporary staff will also be eligible for the bonusTesco has committed to paying its workers in stores, warehouses and its customer engagement centre a 10 per cent bonus for hours worked over Christmas and New Year.
  The Big 4 grocer said hourly-paid staff will receive a 10 per cent bonus for all hours worked between December 13 2020
  
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• Retail sales rise in October as consumers hit shops pre-lockdown

  10-11-2020 08:58 via retailgazette.co.uk
  // Total retail sales increased 4.9% in the four weeks to October 31 against a decline of 0.3%
  // UK retail sales – excluding temporarily closed stores and including online sales – rose 5.2% on a like-for-like basisShoppers have continued to increase their spending, with retail sales rising year-on-year in October as retailers “found their footing” prior to the second lockdown.
  Total retail sales increased 4.9 per cent in the four weeks to October 31 against a decline of
  
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• Retail industry to reach net-zero carbon emissions by 2040, BRC says

  10-11-2020 08:32 via retailgazette.co.uk
  // BRC launches its Climate Action Roadmap
  // It aims for the retail industry to reach net-zero carbon emissions by 2040
  // BRC also committed to exploring new innovations such as carbon-absorbing clothes or drone deliverySixty-three major retailers including Morrisons, Ikea, Ocado, Boots and Missguided have pledged to help the retail industry reach net-zero carbon emissions by 2040.
  The BRC’s new Climate Action Roadmap has outlined strategies to decarbonise the retail sector and its
  
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• Worse than water: Choice’s 2020 Shonky awards shames cleaning products, air purifiers and Harvey Norman

  10-11-2020 04:15
  
  Choice slaps down big retailer’s credit card practices, InvoCare’s funeral pricing, a ‘pathetic’ air purifier, and Coles and Bunnings floor cleanersAn electronics retailer setting their customers up for “crippling debt”, a funeral provider hiding prices from grieving families, and cleaning products that perform worse than water are among brands Australian consumers are being urged to avoid.Choice magazine’s latest Shonky awards, which “uncover and
  
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• Beyond Meat’s shares plunge after consumers slow purchases

  10-11-2020 01:14
  Plant-based burger maker misses Wall Street sales forecasts, saying ‘freezers were full’
  
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• Stockpiling and Christmas shopping boost UK retail sales in October

  10-11-2020 01:04
  Coronavirus restrictions prompt shift to online purchases, while hospitality spending plummets
  
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• Tbilisi outlet scheme officially launched

  10-11-2020 01:00 via theretailbulletin.com
  
  Developers for the Tbilisi Outlet Village have officially launched plans for the scheme at MAPIC Digital ahead of construction starting on the first phase. Spanning 20,000... View Article
  
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• SURVEY: Your expertise is needed – can you help us assess the New Retail Journey?

  10-11-2020 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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• Q&A: Nikolay Piriankov, co-founder and CEO, Taylor & Hart

  10-11-2020 01:00 via theretailbulletin.com
  
  Nikolay Piriankov is the co-founder and CEO of Taylor & Hart, an omni-channel bespoke jewellery brand with showrooms in London and New York. Can you tell... View Article
  
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• Lidl to increase wages for staff on hourly rates

  10-11-2020 01:00 via theretailbulletin.com
  
  The Lidl supermarket chain is to increase the wages of all UK staff on hourly rates. The plans include lifting entry-level pay from £9.30 to £9.50... View Article
  
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• H&M Group names Leyla Ertur as head of sustainability

  10-11-2020 01:00 via theretailbulletin.com
  
  H&M Group has appointed Leyla Ertur as its new head of sustainability. Due to take up her role in January, Ertur will succeed Anna Gedda who... View Article
  
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• Going the whole hog on the high street

  10-11-2020 01:00 via theretailbulletin.com
  
  Government and local authorities have to embrace a much more liberal approach to property and planning and allow any businesses to open up on the high... View Article
  
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• Cult Beauty appoints Carmen Busquets as chairperson

  10-11-2020 01:00 via theretailbulletin.com
  
  Cult Beauty has appointed Net-a-Porter founder Carmen Busquets as non-executive chairperson. Busquets has been an investor in Cult Beauty since 2012 and also has stakes in... View Article
  
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• Artisan du Chocolat acquired by former Godiva president and CEO

  10-11-2020 01:00 via theretailbulletin.com
  
  Artisan du Chocolat has sold a majority stake in its business to Mohamed Elsarky, the former president and chief executive of Godiva Chocolatier. In addition, Elsarky... View Article
  
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