Retail news

• Poor property decisions forced Debenhams to focus on its rent | Nils Pratley

  01-12-2020 21:37
  
  Department store chain’s demise can’t simply be put down to high street crisis and online competitionDebenhams stores set to close with 12,000 jobs at riskChain ‘never recovered from private equity ownership’What went wrong at Debenhams? Start with this statement in the 2006 annual report, the year of the company’s return to the stock market after three years of private equity ownership. Rob Templeman, the chief executive at the time, declared: “Although Deben
  
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• Debenhams 'never recovered from private equity ownership'

  01-12-2020 20:20
  
  Retail experts blame period in hands of consortium for firm’s inability to weather Covid closuresChain set to close all stores with possible loss of 12,000 jobsThe rise and fall of a British retail institutionCoronavirus store closures may have been the final nail in the coffin for Debenhams but retail experts argue the department store chain never recovered from a brutal period in the hands of priv ate equity.The retailer was taken over in 2003 by a private equity consortium. The trio of
  
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• Debenhams to be wound down putting 12,000 jobs at risk – as it happened

  01-12-2020 19:48
  
  Rolling coverage of the latest economic and financial news, with 25,000 jobs now at risk across two UK stricken retailersLatest: Debenhams administrators to start winding firm downDebenhams will keep trading until stock soldEnd of 242 years of retail historyLiquidation process begins after rescue talks failLabour: Devastating news for Debenhams staffArcadia collapse puts 13,000 jobs at riskNils Pratley: Philip Green should do the honourable thing by Arcadia staff6.48pm GMT The crisis gripping th
  
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• Debenhams liquidation compounds crisis in UK high street

  01-12-2020 19:47
  Store chain will wind down operations next year, putting 12,000 jobs at risk, after JD Sports abandons rescue
  
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• Debenhams: the rise and fall of a British retail institution

  01-12-2020 18:24
  
  Founded in 1778 as a high-end draper, the retail chain prospered for more than two centuriesFounded in 1778, Debenhams was one of the largest and most historic department store chains in the world.The business was formed by William Clark as a single high end drapers store at 44 Wigmore Street in London’s West End. It rose to become one of the biggest retailers in the UK with, at one point, more than 200 large stores across 18 countries and exclusive partnerships with some of the world&rsqu
  
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• Cyber Monday set to become biggest online shopping day in US history

  01-12-2020 18:11
  
  Robust sales of up to $11.4bn come even as millions of Americans remain out of work because of the pandemicCyber Monday is set to become the biggest online shopping day ever for the United States, garnering up to $11.4bn as the coronavirus pandemic prompts consumers to stay home and turn to the internet for their holiday shopping needs. Related: US workers face 'turkey apocalypse' with high demand from holiday shoppers amid pandemicContinue reading...
  
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• US tycoon quits petrol stations for glory at Italian football club Parma

  01-12-2020 17:00
  Kyle Krause steps back from Midwest chain Kum & Go to focus on his Serie A acquisition
  
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• Beauty Bay mulls London float following The Hut Group’s listing

  01-12-2020 16:28 via retailgazette.co.uk
  // Beauty Bay considers a stock market listing
  // If it does proceed with a listing, it is unlikely to take place until the second half of next year
  // Beauty Bay is working with investment bank GCA Altium on a review of its strategic optionsBeauty Bay is reportedly considering a stock market listing following fellow online retailer The Hut Group’s successful venture earlier this year.
  The online beauty retailer, which was founded by brothers Arron and David Gabbie, is seeking to follow in
  
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• John Lewis shelves international expansion plans

  01-12-2020 16:21 via retailgazette.co.uk
  // John Lewis halts international expansion plans
  // It will no longer accept orders for international delivery from December 9
  // John Lewis first started selling abroad online about 10 years agoJohn Lewis has decided to halt its international expansion strategy, with online orders abroad coming to an end from next week.
  The department store said it would no longer accept orders for international delivery from December 9 – just weeks before an expected surge in international orders for Ch
  
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• 5 minutes with Leighton Richards, CEO, WelleCo

  01-12-2020 16:21 via retailgazette.co.uk
  Tell me a bit about the WelleCo story.
  WelleCo is an Australia-born company and was founded by Elle Macpherson in 2014 as a result of her own personal wellness journey. Elle found that the things which worked for her in her 30s and 40s were no longer working for her in her 50s. By the time she was 50, she began to recognize the important roles of nurturing clean, supportive nourishment and self-sustaining practices. She began to really understand how to achieve wellness and the benefits of feel
  
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• London’s Regent Street to be pedestrianised in run up to Christmas

  01-12-2020 15:42 via retailgazette.co.uk
  // London’s Regent Street to be pedestrianised as part of Traffic Free Saturdays
  // On December 5, 12, and 19, Regent Street will be pedestrianised from 10am to 9pm for visitors
  // The West End is seeking to encourage footfall once the lockdown is lifted in England on WednesdayLondon’s Regent Street is set to be pedestrianised in the lead up to Christmas in an effort to allow visitors to “shop comfortably and view Christmas installations”.
  West End retailers and rest
  
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• Debenhams to be wound down putting 12,000 jobs at risk – business live

  01-12-2020 14:49
  
  Rolling coverage of the latest economic and financial news, with 25,000 jobs now at risk across two UK stricken retailersLatest: Debenhams administrators to start winding firm downDebenhams will keep trading until stock soldEnd of 242 years of retail historyLiquidation process begins after rescue talks failLabour: Devastating news for Debenhams staffArcadia collapse puts 13,000 jobs at riskNils Pratley: Philip Green should do the honourable thing by Arcadia staff1.48pm GMT The collapse of Debenh
  
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• Arcadia and Debenhams: retailers count the cost of lockdown

  01-12-2020 13:46
  
  FT experts comment on new tiered restrictions for retailers, pubs and restaurants
  
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• Balenciaga to launch latest collection through a video game

  01-12-2020 12:42 via chargedretail.co.uk
  
  Balenciaga is set to unveil its latest clothing collection through a bespoke original video game which customers can play through their browser.
  “Afterworld: The Age of Tomorrow” will launch on December 6 allowing customers to explore the luxury brand’s autumn/winter 2021 collection through an interactive virtual world.
  According to the brand the game is an “allegorical adventure” set in the year 2031, in which the player will navigate through the virtual realm
  
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• Sainsbury’s faces drivers’ strike after “point blank refusing” to discuss pay dispute

  01-12-2020 12:29 via retailgazette.co.uk
  // Sainsbury’s is involved in a pay dispute after drivers said they are paid £12,000 less than their counterparts
  // The dispute involves 12 drivers who hired through outsourcing firm Harper & Guy Consulting
  // The drivers threatened to stop working for 24 hours on December 14, 15, 20, 21, 22 and Boxing DaySainsbury’s has been faced with a pay dispute involving staff at its Waltham Abbey distribution centre in Essex, which could affect supply to stores in London and the sou
  
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• PS5 scalper made $40,000 in a single week reselling consoles

  01-12-2020 11:48 via chargedretail.co.uk
  
  A PlayStation 5 scalper who used bots to buy up hundreds of consoles has reportedly made $40,000 in a single week reselling them at exorbitant prices.
  PS5 consoles are still proving frustratingly hard for customers to get their hands on, with retailers in both Europe and the US selling out of their limited stock almost immediately whenever new batches are released.
  Scalper groups, who use specialised software to acquire as much stock as possible far faster than any manual human shopper would be
  
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• Pets At Home bags £100m from sale of five specialist vet practices

  01-12-2020 11:35 via retailgazette.co.uk
  // Pets at Home sells 5 specialist veterinary businesses for £100m to rival Linnaeus Group
  // News comes a day after the retailer revealed it had bought telephone & video appointment service The Vet ConnectionPets At Home has sold its specialist veterinary business for £100 million to rival Linnaeus Group, the pet goods specialist retailer has revealed.
  Bosses said the deal will allow Pets At Home to focus on customer-facing activities across their stores and services through the
  
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• How will you be impacted by the collapse of Arcadia Group?

  01-12-2020 10:59
  
  We’d like to hear from people who will be impacted by news that Arcadia Group has called in administrators. High street names include Topshop, Miss Selfridge, Dorothy Perkins and EvansArcadia Group has collapsed into administration, putting 13,000 jobs at risk.The group, which owns brands including Topshop, Topman, Miss Selfridge, Dorothy Perkins, Evans and Burton, called in administrators on Monday. No immediate redundancies were made as a result of the news, and the group’s stores
  
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• UK high street left reeling as Debenhams goes into liquidation

  01-12-2020 10:52
  
  Chain’s collapse a day after Arcadia puts total of 25,000 jobs at risk heaping pressure on troubled rivals as fire sale loomsChain ‘never recovered from private equity ownership’The rise and fall of a British retail institutionTopshop owner Arcadia Group collapses into administration
  The Debenhams department store chain is to be wound down after Christmas, with the loss of up to 12,000 jobs and closure of 124 stores in a new blow to the high street.The liquidation of the 240-ye
  
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• Debenhams set to close all stores with possible loss of 12,000 jobs

  01-12-2020 10:52
  
  Department store chain goes into liquidation after JD Sports ends talks over rescue dealLive coverage: Debenhams to be wound downTopshop owner Arcadia Group collapses into administrationDebenhams is set to wind down the business and close all 124 stores after JD Sports ended discussions over a rescue deal for the struggling department store chain.Administrators to Debenhams, which has been seeking a buyer since the summer, said the sale process had “not resulted in a deliverable proposal&r
  
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• Debenhams faces liquidation in blow to UK high street

  01-12-2020 10:41
  Store chain will wind down operations next year, putting 12,000 jobs at risk
  
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• 12,000 jobs at risk as JD Sports pull out of Debenhams takeover talks

  01-12-2020 10:32 via retailgazette.co.uk
  // JD Sports pulls out of takeover talks with Debenhams following Arcadia Group administration
  // JD Sports was understood to be in pole position in a sale process initiated by Debenhams’ administrators
  // JD Sports made a u-turn following Arcadia Group’s collapse, as it has concessions with DebenhamsDebenhams will begin to wind down its UK properties after JD Sports said it would pull out of talks on a rescue takeover, a move that will place 12,000 jobs at risk.
  JD Sports was unders
  
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• 12,000 jobs at risk as Debenhams set to shutter UK stores

  01-12-2020 10:32 via retailgazette.co.uk
  // JD Sports pulls out of takeover talks with Debenhams following Arcadia administration
  // JD Sports was understood to be in pole position in a sale process initiated by administrators
  // The sportswear retailer has now made a u-turn on its decision following the administrationDebenhams will begin to wind down its UK properties after JD Sports said it was to pull out of talks on a rescue takeover.
  JD Sports was understood to be in pole position in a sale process initiated by the administrators
  
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• Topps Tiles swings to a full-year loss of £9.8m

  01-12-2020 10:13 via retailgazette.co.uk
  // Topps Tiles slumps to £9.8m pre-tax loss for the year to September 26, compared to profit of £12.5m last year
  // On an underlying basis, pre-tax profits plunged 78% to £3.6 million, compared to £16m a year earlier
  // Like-for-like sales dropped 12.5% over the year, but trading bounced back after lockdown
  Topps Tiles has slumped to an annual loss after taking a hit of around £16 million from coronavirus, but cheered rebounding sales thanks to a boom in DIY activi
  
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• Debenhams faces liquidation after JD Sports ends talks

  01-12-2020 10:08
  Move puts another 12,000 retail jobs at risk
  
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• Sosandar “significantly” narrows losses as sales rise

  01-12-2020 09:50 via retailgazette.co.uk
  // Sosandar “significantly” reduced its EBITDA losses in the second half
  // Revenue rose 52% to £4.3m in the six months ending September 30
  // Gross profit reached £2.2m during the second half – up 48% year on yearSosandar has reported an EBITDA loss of £1 million in the six months ending September 30, compared with £2.7 million in the first half of its financial year.
  The womenswear retailer said it “significantly” reduced its EBITDA losses
  
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• High Court dismisses claim over scrapping of tax-free shopping for tourists

  01-12-2020 09:47 via retailgazette.co.uk
  // High Court dismisses claim that gov’t failed to consider the “devastating impact” of scrapping tax-free shopping
  // Lawyers argued that the move could cost around 50,000 jobs
  // Justice Swift ruled these claims brought by Heathrow Airport and the two other businesses could not be arguedThe High Court has dismissed a claim that the UK Government failed to consider the “devastating impact” of scrapping tax-free shopping for tourists on the travel and retail sectors
  
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• UK ministers to ‘keep a close eye’ on Arcadia collapse

  01-12-2020 09:25
  Promise comes as MPs demand answers about pension payments
  
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• UK government to ‘keep a close eye’ on Arcadia collapse

  01-12-2020 09:25
  Promise comes as MPs demand answers about pension payments
  
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• 13,000 jobs at risk as Sir Philip Green’s Arcadia Group plunges into administration

  01-12-2020 09:20 via retailgazette.co.uk
  // Sir Philip Green’s Arcadia Group appoints auditing firm Deloitte as administrators
  // The move leaves 13,000 jobs hanging in the balance, although no redundancies have been confirmed as yet
  // Arcadia Group’s 444 UK stores will continue to trade while administrators seek a buyerSir Philip Green’s Arcadia Group has officially entered administration, a move that has put 13,000 jobs at risk.
  Last night, the retail empire – which owns Topshop, Topman, Dorothy Perkins, Burt
  
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• Sainsbury's won't deliver the basic food I ordered for my student son

  01-12-2020 08:00
  
  It imposes an age restriction and implied I broke the law by first registering the account in my nameMy son is a first-year university student in Scotland, living in a hall of residence. Considering the Covid-related national emergency and the advice to avoid unnecessary travel, I started buying him a weekly online shop from Sainsbury’s at the start of the new term.Everything was fine until two days ago. The driver from Sainsbury’s requested my son’s ID and refused to give him
  
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• 'We all need magic in our lives': how Santa's grottos moved online to beat the pandemic

  01-12-2020 07:00
  
  It’s 130 years since Father Christmas first appeared in a department store. But this year is the strangest one yet – with virtual calls taking the place of shopping centre visits. Is it enough to keep the ho ho hos flowing?Five bearded men, dressed head to toe as Santa, wearing fur-trimmed face masks, file into an office building in London and sit behind wooden desks – laptops and webcams in front of them. The room has been made magical with the addition of a red and gold curta
  
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• Philip Green's wealth has shrunk as Arcadia's fortunes have faded

  01-12-2020 07:00
  
  Tycoon and wife had estimated fortune of £4.9bn in 2006 but it has fallen to about £950mNo one except Sir Philip Green, his wife, Lady Tina Green, and their accountants know exactly how rich the self-crowned “king of the high street” actually is. But there is one thing in which everyone can be certain: the Greens are far less rich than they once were.The couple, who own the Arcadia retail empire which collapsed into administration on Monday, were reportedly the UK’s
  
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• It's Father Clickmas: can Santa save Christmas over Zoom?

  01-12-2020 07:00
  
  It’s 130 years since Father Christmas first appeared in a department store. But this year is the strangest one yet – with virtual calls taking the place of shopping centre visits. Is it enough to keep the ho ho hos flowing?Five bearded men, dressed head to toe as Santa, wearing fur-trimmed face masks, file into an office building in London and sit behind wooden desks – laptops and webcams in front of them. The room has been made magical with the addition of a red and gold curta
  
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• From fashion forward to slightly awkward: the mixed bag of Philip Green brands

  01-12-2020 07:00
  
  Topshop, Burton, Miss Selfridge and more helped to define the high street down the yearsArcadia has gone into administration, completing Sir Philip Green’s fall from the king of the high street. Here we look at the tycoon’s brands from a fashion perspective: Continue reading...
  
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• Yoox-Net-A-Porter appoints new CEO as Federico Marchetti moves to chairman role

  01-12-2020 01:00 via theretailbulletin.com
  
  Yoox Net-A-Porter has appointed Geoffroy Lefebvre as its new chief executive as part of a succession plan that will see  current chief executive and founder Federico... View Article
  
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• Topps Tiles full year revenue declines as it sets new market share goal

  01-12-2020 01:00 via theretailbulletin.com
  
  Revenues at Topps Tiles fell by 12% to £192.8 million in the 12 months to 26 September as retail like-for- like sales dropped by 12.5% across... View Article
  
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• Sosandar boosted by strong first half sales growth

  01-12-2020 01:00 via theretailbulletin.com
  
  Women’s fashion retailer Sosandar increased its revenue by 52% to £4.28 million in the first half of its financial year. In the six months to 30... View Article
  
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• Pets at Home sells five specialist referral practices

  01-12-2020 01:00 via theretailbulletin.com
  
  Pets at Home has sold its five specialist referral practices to veterinary group Linnaeus for a cash consideration of up to £100 million. The retailer said... View Article
  
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• Pets at Home acquires The Vet Connection

  01-12-2020 01:00 via theretailbulletin.com
  
  Pets at Home has acquired veterinary telehealth provider The Vet Connection in a £15 million deal. The company said the acquisition will help it to meet... View Article
  
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• London’s West End to introduce traffic free Saturdays

  01-12-2020 01:00 via theretailbulletin.com
  
  Retailers and restaurateurs in London’s West End have teamed up to orchestrate a series of traffic free Saturdays in the run-up to Christmas. On Saturday 5th,... View Article
  
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• IKEA to reopen 19 stores across England post lockdown

  01-12-2020 01:00 via theretailbulletin.com
  
  IKEA is to reopen 19 stores across England from 2 December including its flagship planning studio format in London’s Tottenham Court Road. In line with local... View Article
  
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• Debenhams to be wound down after rescue talks fail

  01-12-2020 01:00 via theretailbulletin.com
  
  The Debenhams department store chain is to be wound down after a rescue deal with JD Sports failed to materialise. The move will put 12,000 jobs... View Article
  
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• BoConcept to open new store at Cardiff’s St David’s

  01-12-2020 01:00 via theretailbulletin.com
  
  Danish furniture brand BoConcept will be opening a new store at the St David’s shopping destination in Cardiff. Due to launch in early 2021, the 5,300... View Article
  
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• Arcadia Group enters administration

  01-12-2020 01:00 via theretailbulletin.com
  
  Arcadia Group has entered administration after the closure of non-essential stores during the second UK Covid-19 lockdown impacted trade. The move will put 13,000 jobs at... View Article
  
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• JD Sports expected to exit Debenhams rescue talks after Arcadia collapse

  01-12-2020 00:11
  
  News that department store’s supplier is in administration is likely to kill off a dealJD Sports is expected to pull out of talks over a rescue deal for Debenhams on Tuesday, putting thousands of jobs at risk at the struggling department store group.Last-ditch negotiations to secure a deal were continuing but the news on Monday night that Debenhams’ major supplier Arcadia had collapsed into administration, as well as uncertainty about conditions on the high street and negative reacti
  
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