Retail news

• Co-op Bank reveals takeover talks with US private equity buyer

  17-11-2020 20:58
  
  News prompts speculation that UK banking sector is heading for a wave of merger and takeover deals
  The Co-operative Bank is in takeover talks with a US private equity firm, as speculation builds that the UK banking sector is heading for a wave of merger and takeover deals. The bank said it had received an approach from a “financial sponsor with knowledge and experience of investing in European financial services businesses regarding the possibility of a sale of the bank and/or the holding
  
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• Retail and hospitality leaders in England call for clarity on Covid tier plans

  17-11-2020 19:50
  
  Business groups press government for a week’s notice on new trading restrictions post-lockdown Coronavirus – latest updatesSee all our coronavirus coverageRetailers, pubs and restaurants have called on the government to give them at least a week’s warning about new coronavirus trading restrictions after England’s lockdown ends on 2 December.Business leaders called for clarity on how any new tier system of graded lockdowns would work, which parts of the country would be af
  
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• Lockdown and Black Friday set up 'record-breaking month' for UK online retail

  17-11-2020 18:18
  
  Sales up 61% in first week of November compared with same period last year, report showsCoronavirus – latest updatesSee all our coronavirus coverageThe combination of Black Friday discounts and coronavirus restrictions will make November a record-breaking month for online spending in the UK, according to a new report that showed early web sales rising by 60%.With non-essential shops closed in England and shutting in parts of Scotland at the end of this week, household names such as Currys
  
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• Edinburgh Woollen Mill: What went wrong?

  17-11-2020 17:21 via retailgazette.co.uk
  A BRIEF TIMELINE
  1946: Edinburgh Woollen Mill was founded by Andrew Stevenson as the Langholm Dyeing and Finishing Company Ltd, dyeing wool yarn to order.
  1966: Stevenson’s eldest son David was appointed managing director.
  1970: David Stevenson opened the first retail store in Randolph Place, Edinburgh.
  1972: The first English store opened in Carlisle.
  1988: David’s younger brother Neil Stevenson was appointed co-managing director of Langholm Dyeing and Finishing Company, helping inc
  
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• Christmas demand drives Asda sales in “rollercoaster year”

  17-11-2020 16:11 via retailgazette.co.uk
  // Asda sales rise in third quarter thanks to demand in Christmas products
  // Like-for-like sales were up 2.7% during the three months to September 30
  // Online sales at Asda.com and George.com rose by a colossal 72% year on yearAsda has seen its sales rise during its third quarter as demand for “key Christmas products” continued to surge.
  The Big 4 grocer said like-for-like sales were up 2.7 per cent during the three months to September 30.
  Online sales from Asda.com and George.com
  
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• Co-op Bank reveals takeover approach by unnamed party

  17-11-2020 15:41
  
  Potential bidder has ‘experience of investing in European financial services’The hedge fund-owned Co-operative Bank has received a takeover approach, adding to a growing list of UK lenders rumoured to be changing hands during the pandemic.The bank did not name the potential bidder or disclose any terms, only saying that it had received an approach from a “financial sponsor with knowledge and experience of investing in European financial services businessesregarding the possibil
  
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• Walmart and Home Depot extend pandemic winning streaks

  17-11-2020 15:19
  Despite strong results, downbeat US retail data raise concerns about consumer strength as pandemic drags on
  
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• Klarna launches price-tracking feature

  17-11-2020 15:07 via chargedretail.co.uk
  
  Klarna has announced the launch of a price drop widget allowing customers to track the latest deals and sales.
  Created in time for the festive season, Klarna’s new iOS feature is designed to help consumers follow sales dates and deals.
  Shoppers can receive live updates on price changes for their saved items.
  READ MORE: Klarna to be investigated by ICO after sending marketing emails to users “who are not and have never been a customer”
  The payments provider also launched a
  
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• Amazon launches online pharmacy in challenge to traditional retailers

  17-11-2020 14:25
  Shares in Walgreens and CVS fall as ecommerce giant offers huge discounts on prescription drugs
  
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• Zalando launches first ever diversity & inclusion report

  17-11-2020 14:20 via retailgazette.co.uk
  // Zalando posts first ever diversity and inclusion report
  // It has invested £4.4m in raising the share of women in tech by 40 to 60% by 2023
  // In 2019, Zalando set the target of achieving a balanced representation of both women and menZalando has released its first ever diversity and inclusion report in an effort to keep a record of the company’s progress in those areas.
  The German online retailer said it has invested €5 million (£4.4 million) in balancing a gender shar
  
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• Will Covid-19 kill the high street? Your questions answered

  17-11-2020 14:15
  
  FT experts answer your questions as Christmas spending shifts online.
  
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• Christmas shoppers warned to avoid electronics from online marketplace sellers

  17-11-2020 13:40 via retailgazette.co.uk
  // Electrical Safety First warns Christmas shoppers to avoid 3rd-party sellers on online marketplaces when buying electronics
  // There are concerns they could end up buying a dangerous electrical product that presents a fire risk
  // 58 per cent of Brits will be shopping on online marketplaces for Christmas this yearChristmas shoppers turning to the internet should stick with reputable websites of known retailers instead of third-party sellers on online marketplaces when buying electronics, a saf
  
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• Asda to donate 1 million meals to help vulnerable people over Christmas

  17-11-2020 13:11 via retailgazette.co.uk
  // Asda to donate 1m meals to help vulnerable people over the festive season
  // This is in addition to the donations and work it already does with other charities, such as FareShare and Trussell TrustAsda has revealed plans to donate one million meals before Christmas to support vulnerable people across the UK.
  The initiative will see meals given to food banks, charities and community groups over the festive season.
  Asda said the move is on top of the work it already does with FareShare and the
  
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• Dr Martens owner hires Wall Street banks to lead stock market float

  17-11-2020 12:42 via retailgazette.co.uk
  // Dr Martens private equity backer Permira hires Goldman Sachs and Morgan Stanley as global coordinators on an IPO
  // The valuation expected to be sought by Permira, and the size of any primary capital-raising, remains unclear
  // A number of other banks had been appointed to work as bookrunners on the IPODr Martens owner Permira has reportedly appointed Goldman Sachs and Morgan Stanley to act as global coordinators on an IPO being earmarked for next year.
  The float would come more than sev
  
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• Debenhams opens virtual beauty room

  17-11-2020 11:04 via chargedretail.co.uk
  
  Debenhams has announced the launch of a virtual beauty room to enable shoppers to receive in-store customer service from the comfort of their own home.
  The department store group will offer customers the chance to book one-to-one 30 minute virtual consultations on its website, teaming up with skincare brand Shiseido and cosmetics companies Givenchy and Bare Minerals.
  Debenhams will also be offering social media masterclasses each week on Facebook and Instagram, featuring Clarins and YSL.
  READ MO
  
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• Russian ecommerce group Ozon files for IPO valued at up to $5.6bn

  17-11-2020 10:25
  Company aims to raise up to $1bn from Nasdaq exchange listing amid strong demand
  
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• The Hut Group hires new non-executive director to “bolster expertise”

  17-11-2020 10:16 via retailgazette.co.uk
  // The Hut Group hires Damian Sanders as independent non-executive director of the group
  // Sanders will join the board and take up the position of chair of the remuneration committee with immediate effect
  // He will bring “extensive financial and commercial experience” to The Hut GroupThe Hut Group has appointed a new non-executive director as it seeks to “bolster the expertise available to the board”.
  Damian Sanders joins as an independent non-executive director of the
  
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• Boohoo Group appoints Shaun McCabe as non-executive director

  17-11-2020 10:05 via retailgazette.co.uk
  // Boohoo appoints Shaun McCabe as a new non-executive director with immediate effect
  // He will sit on Boohoo Group’s audit committee and sit on the remuneration & nomination committees
  // McBabe was formerly Asos international director at Asos and is Trainline chief financial officerBoohoo Group has announced the appointment of Shaun McCabe as its new non-executive director with immediate effect.
  He will join the firm’s audit committee and also sit on the remuneration and nomin
  
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• Naked Wines welcomes new finance boss

  17-11-2020 09:55 via retailgazette.co.uk
  // Naked Wines hires new chief financial officer
  // Shawn Tabak will join the company on December 7
  // Tabak will replace James Crawford, who was promoted to MD of its UK businessNaked Wines has hired a new finance boss to replace James Crawford, who was recently promoted to the role of managing director of its UK business.
  Shawn Tabak will join the company as new chief financial officer on December 7, when Crawford hands over his finance duties and steps down from the board.
  Tabak has prev
  
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• UK footfall shows sign of resilience despite England’s second lockdown

  17-11-2020 09:41 via retailgazette.co.uk
  // UK-wide footfall remains weak as England enters 2nd week of lockdown #2, but it’s still better than it was during the spring lockdown
  // Springboard says footfall across UK retail destinations last week was 57.7% lower than the same week in 2019
  // It was 64.7% lower in high streets and 65.7% lower in shopping centres but just 34.3% lower in retail parksNew data has shown that UK-wide footfall remains weak as England entered its second week of another national lockdown, but it’s s
  
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• M&S mulls Jaeger acquisition or partnership

  17-11-2020 09:20 via retailgazette.co.uk
  // M&S reportedly looking to buy Jaeger outright or enter a partnership deal with the brand
  // EWM Group recently granted a further 2-week extension to continue discussions with potential suitors for JaegerReports have emerged that Marks & Spencer is looking to possibly acquire Jaeger as its parent company Edinburgh Woollen Mill Group undergoes rescue talks for the brand.
  M&S reportedly held talks about stocking Jaeger products in its stores as part of its own clothing strategy overh
  
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• Whirlpool tells us to keep using a faulty Hotpoint washing machine

  17-11-2020 08:00
  
  And as I knew it was faulty that would invalidate our home insuranceMy Hotpoint washing machine developed a door locking fault last week and subsequently burnt out the socket it was plugged into. I completed the recall form with Whirlpool and contacted it straight away to get a replacement.My wife and I both work in frontline social care; my wife has a uniform that she has to wash after every shift and we are also in a local (Wales) lockdown and not allowed to mix with any other households. Cont
  
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• Pinduoduo to raise $5.6bn to take on China’s supermarkets

  17-11-2020 07:51
  China’s second-largest ecommerce platform aims to create national next-day delivery network for fresh produce
  
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• Pinduoduo looks to add $5.6bn in firepower to take on rivals

  17-11-2020 07:51
  China’s second-largest ecommerce platform raises new financing to compete with Alibaba and JD.com
  
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• Rakuten pioneers new retail route into telecoms

  17-11-2020 04:58
  The Japanese ecommerce group hopes to succeed where other groups in the sector have failed by building and running its own mobile phone network
  
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• The Hut Group welcomes Damian Sanders as non-executive director

  17-11-2020 01:00 via theretailbulletin.com
  
  Health and beauty retailer The Hut Group has appointed Damian Sanders as a non-executive director as it looks to strengthen its leadership team. He will also... View Article
  
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• Naked Wines appoints new chief financial officer

  17-11-2020 01:00 via theretailbulletin.com
  
  Naked Wines has hired Shawn Tabak as its new chief financial officer. Due to join the business early next month, he will be based at Naked’s... View Article
  
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• Kate Spade appoints chief marketing officer

  17-11-2020 01:00 via theretailbulletin.com
  
  Kate Spade New York has appointed Jenny Campbell as its new chief marketing officer. She has succeeded Mary Renner Beech who worked with the business for... View Article
  
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• Habitat flagship stores set to close

  17-11-2020 01:00 via theretailbulletin.com
  
  Sainsbury’s is to close its flagship Habitat shops in London’s Tottenham Court Road and Finchley Road as part of plans to relaunch the homewares retailer in... View Article
  
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• Debenhams launches virtual beauty room

  17-11-2020 01:00 via theretailbulletin.com
  
  Debenhams has opened a virtual beauty room to enable customers to get expert advice while its department stores are closed in England. The retailer is using... View Article
  
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• Central England Co-op COO and CFO to retire

  17-11-2020 01:00 via theretailbulletin.com
  
  Central England Co-op has announced that its chief operating and chief financial officers will be retiring in September next year. Chief operating officer Tracey Orr has... View Article
  
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• Boohoo hires Shaun McCabe as non-executive director

  17-11-2020 01:00 via theretailbulletin.com
  
  Online fashion retailer Boohoo has appointed Shaun McCabe to to its board as an independent non-executive director. He will also become chair of the audit committee... View Article
  
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• B&Q to begin home delivery of real Christmas trees

  17-11-2020 01:00 via theretailbulletin.com
  
  B&Q is launching a new service where it will be delivering online orders of real Christmas trees to customers’ homes.  The socially distanced door drops will... View Article
  
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• Asda third quarter sales up 2.7%

  17-11-2020 01:00 via theretailbulletin.com
  
  Asda saw its like-for-like sales increase by 2.7% in its third quarter as the supermarket was boosted by a strong performance in its grocery and back-to-school... View Article
  
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