Retail news

• Boohoo owner tells MPs he could easily 'take business offshore'

  16-12-2020 21:21
  
  Fixing fashion audit committee hears Mahmud Kamani claim scrutiny of his dealings with Leicester supplies ‘felt like punishment’Scrutiny of Boohoo’s relationship with Leicester suppliers who paid workers illegally low wages felt like “punishment” for not taking more business out of the UK, the company’s founder, Mahmud Kamani, told MPs on Wednesday.The billionaire owner of Boohoo was speaking to the environmental audit committee – which is investigating
  
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• Boohoo says fast-fashion retailer was victim of own rapid growth

  16-12-2020 21:09 via ft.com
  MPs hear company has stopped working with 64 Leicester suppliers over labour law concerns
  
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• Heathrow third runway has always been rotten idea – time to end this saga | Nils Pratley

  16-12-2020 21:04
  
  Legal hurdle has gone, but from emissions targets to passenger projections, list of problems is longCleared for takeoff? Of course not. The supreme court has ruled that Heathrow’s third runway can proceed, but the chances of the thing being built still look remote. The obstacle of legality – admittedly, a large obstruction – has been removed, but the list of problems remains long.One is whether demand still exists for an extra 700 flights a day. Even when the pandemic passes, w
  
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• UK ports disruption – importers call for urgent inquiry by MPs

  16-12-2020 20:37
  
  Retailers and manufactures demand action after delays caused by pandemic and BrexitRetailers and food and drinks companies have called for MPs to launch an urgent inquiry into disruption at British ports, with delays to goods deliveries possibly set to last for months.The delays mean consumers may have to pay higher Christmas prices and companies may be unable to build up stockpiles of goods to see them through Brexit disruption, the retail and food and drinks industry warned, in a letter to the
  
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• British port disruption – importers call for urgent inquiry by MPs

  16-12-2020 20:37
  
  Retailers and food and drinks companies want parliament to act over delays caused by pandemicRetailers and food and drinks companies have called for MPs to launch an urgent inquiry into disruption at British ports, with delays to goods deliveries possibly set to last for months.The delays mean consumers may have to pay higher Christmas prices and companies may be unable to build up stockpiles of goods to see them through Brexit disruption, the retail and food and drinks industry warned, in a let
  
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• Hornby pauses non-UK toy orders because of Brexit

  16-12-2020 19:53
  
  Uncertainty over tariffs and delays at ports prompt toymaker to ask international customers to be patientThe toy-train maker Hornby has temporarily stopped all orders to customers outside the UK, blaming uncertainty over Brexit and disruption at the UK’s ports, which is causing significant delays.The company, which also makes Scalextric car racing sets and Corgi cars, said it would not accept any non-UK orders until 4 January, after the UK’s transition period ends and EU-UK trade swi
  
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• The Guardian view on shameless CEOs: because they're worth it? | Editorial

  16-12-2020 19:49
  
  The revelation that Ocado’s chief executive was paid £58.7m last year speaks of a rotten corporate culture out of step with the timesAlmost 50 years ago, the American philosopher John Rawls published a celebrated account of what fairness looks like in a liberal democracy. Though scrupulous in its safeguarding of individual freedoms, Rawls’s groundbreaking A Theory of Justice incorporated an important rider. His so-called “difference principle” stipulated that result
  
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• Pound highest since 2018 amid Brexit deal hopes; bitcoin hits $20,000 – as it happened

  16-12-2020 19:20
  
  Rolling coverage of the latest economic and financial newsLatest: Bitcoin surges over $20k for first timePound rallies over $1.35 on optimism
  Factories report ‘severe pressure’ on supply chainsUK inflation falls to 0.3% in November
  Clothing and footwear prices fell sharply amid discounting 6.19pm GMT Time for a recapThe pound has hit its highest level in 31 months, on hopes that an EU-UK trade deal could be close. Sterling jumped to $1.355 for the first time since May 2018, after Com
  
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• Manchester's Trafford Centre taken over by lenders after sale fails

  16-12-2020 18:54
  
  Canadian pension fund takes control following collapse into administration of Intu PropertiesThe Trafford Centre in Manchester, one of the UK’s biggest shopping malls, has been taken over by its lenders, a Canadian pension fund, after its directors failed to sell it.The mall was previously owned by the shopping centre company Intu Properties, which collapsed into administration in June with debts of more than £4.5bn. Related: Why low inflation is worrying sign of UK's poor economic
  
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• Grandma’s lessons from the shop floor

  16-12-2020 18:43 via ft.com
  Workers in retail have individual talents and skills and should not be herded by policymakers
  
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• Dixons Carphone keeps Covid rates relief despite rise in profits

  16-12-2020 18:22
  
  Online sales more than double in half year as firm indicates it has no plans to pay back £34m in reliefDixons Carphone has indicated it has no plan to pay back business rates relief despite reporting a rise in profits after online sales made up for closures enforced during the coronavirus pandemic.Online sales more than doubled to £1.8bn in the half year to 31 October, and overall sales in the UK and Ireland electricals business rose by 15%. The group made a profit before interest an
  
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• Why low inflation is worrying sign of UK's poor economic health

  16-12-2020 17:47
  
  Analysis: lower prices may have been welcomed by consumers but also reflect tough period Britain has often had a problem with inflation. But far from the old enemy of past decades, when galloping price increases served as a pernicious tax on the poorest households, today inflation is worryingly low.The annual rate fell in November to just 0.3%, among the lowest levels since 1989. During the coronavirus pandemic, lower prices will have been gladly welcomed by hard-pressed consumers. But the low i
  
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• Indie Corner: Pen Heaven

  16-12-2020 17:27 via retailgazette.co.uk
  Pen Heaven, the retailer which specialises in a range of pens and leather journals came to life in 2006 from wholesale business Coles Pens.
  “We wanted a consumer facing arm to support the products we sold,” Pen Heaven director David Cole told Retail Gazette.
  “We were ahead of the curve as back then there were very few big players online, and with the web exploding we saw huge potential for growth in an otherwise untapped market.
  “Stationery was and still is a dream produ
  
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• Dixons Carphone will not repay Covid rates relief despite rise in profits

  16-12-2020 17:24
  
  Online sales more than double in half year and firm says it will not pay back £34m reliefDixons Carphone has said it will not pay back business rates relief despite reporting a rise in profits after online sales made up for closures enforced during the coronavirus pandemic.Online sales more than doubled to £1.8bn in the half year to 31 October, and overall sales in the UK and Ireland electricals business rose by 15%. The group made a profit before interest and tax of £100m in t
  
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• How are occasion wear retailers approaching festivities this year?

  16-12-2020 16:26 via retailgazette.co.uk
  With it being the season for office Christmas parties and other annual festivities such as New Year’s Eve, retailers that primarily offer party or occasion wear are in no doubt a bit of a conundrum as lockdowns across the nation force these parties to turn virtual – or not happen at all.
  According to Kantar, formalwear sales including the sales of suits and blazers plummeted 73.3 per cent in the six months to August 23, as shoppers no longer had events or parties to attend.
  Such was
  
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• Pound highest since 2018 amid Brexit deal hopes; bitcoin hits $20,000 – business live

  16-12-2020 16:20
  
  Rolling coverage of the latest economic and financial newsLatest: Bitcoin surges over $20k for first timePound rallies over $1.35 on optimism
  Factories report ‘severe pressure’ on supply chainsUK inflation falls to 0.3% in November
  Clothing and footwear prices fell sharply amid discounting 3.20pm GMT Yoni Assia, CEO and co-founder of trading platform eToro, says financial institutions have “woken up” to cryptocurrencies this year, with many banks and hedge funds buying bi
  
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• US retail sales in November fell by the most in 7 months

  16-12-2020 15:57 via ft.com
  Disappointing data on consumer spending comes as new restrictions weigh on holiday shopping season
  
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• Pound highest since 2018 amid Brexit deal hopes; port delays hit factories – business live

  16-12-2020 14:45
  
  Rolling coverage of the latest economic and financial newsLatest: Factories report ‘severe pressure’ on supply chainsPound lifted by Brexit deal hopesUK inflation falls to 0.3% in NovemberClothing and footwear prices fell sharply amid discounting 1.43pm GMT The pound has hit its highest level since May 2018, as optimism over a Brexit deal builds.Sterling has climbed nearly a cent to trade at $1.355, a 31-month high, after European Commission president Ursula von der Leyen told MEPs t
  
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• 'Stress is making me sick': UK workers on losing their jobs to Covid

  16-12-2020 14:40
  
  The closure of businesses since the second wave leaves the unemployed fearful for the futureSince the second wave of the Covid-19 pandemic, businesses across the UK have been forced to close once again, with the number of people being made redundant climbing to a record high in the three months to October.I didn’t sleep all night yesterday, trying to budget money I don’t haveI’ve given myself a year to stay here and figure things out Continue reading...
  
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• Wales to tighten Covid rules amid 'extremely serious' spread, says Drakeford – video

  16-12-2020 14:35
  
  Fresh lockdown measures are to be imposed in Wales from Christmas Eve, the first minister, Mark Drakeford, has announced.All non-essential shops, plus leisure and fitness centres and close-contact services, will shut at the end of trading on 24 December and pubs and restaurants will close from 6pm on Christmas Day. The Welsh government is advising that only two households should come together to form an exclusive Christmas bubble during the five-day periodWales to impose fresh Covid lo
  
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• Wales to enter full lockdown for the 3rd time after Christmas

  16-12-2020 14:07 via retailgazette.co.uk
  // Wales poised to go back into full lockdown for the third time from December 28
  // However, non-essential retailers will not be allowed to reopen after close of business on Christmas Eve
  // It comes after Wales went through a 17-day lockdown earlier in autumnWales poised to go back into full lockdown for the third time from December 28, although non-essential retailers will be closed from Christmas Eve, the Welsh Government has announced.
  First Minister Mark Drakeford said a “sustained r
  
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• Travis Perkins to return £50m of UK government help

  16-12-2020 13:57 via ft.com
  Group says its Wickes and Toolstation brands benefited from ‘surge in DIY trade’ in 2020
  
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• Canadian pension fund takes over Manchester’s Trafford Centre after Intu collapse

  16-12-2020 13:52 via retailgazette.co.uk
  // Trafford Centre is no longer under Intu’s control after no viable bids were made in a sale process
  // Canada Pension Plan Investment Board was a key lender to Intu before it filed for administration
  // The pension fund has now taken control of Trafford Centre, considered the 3rd largest UK shopping centre by sizeA Canadian pension fund has taken control of Manchester’s Trafford Centre after previous owner Intu collapsed into administration.
  Canada Pension Plan Investment Board (CP
  
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• CMA to probe JD Sports & Greaves Sports over replica kits

  16-12-2020 13:31 via retailgazette.co.uk
  // CMA launches probe over the price of replica football kits and potential “anti-competitive behaviour”
  // Greaves Sports & JD Sports will be under investigation, as will manufacturers Rangers FC and HummelThe UK competition watchdog has launched an investigation into sportswear retailers over the price of replica football kits.
  The CMA has today confirmed it has opened an initial inquiry into potential “anti-competitive behaviour”.
  It said it is probing Rangers FC a
  
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• Pound lifted by Brexit optimism but port delays hit manufacturers – business live

  16-12-2020 13:15
  
  Rolling coverage of the latest economic and financial newsLatest: Factories report ‘severe pressure’ on supply chainsPound lifted by Brexit deal hopesUK inflation falls to 0.3% in NovemberClothing and footwear prices fell sharply amid discounting 12.09pm GMT Those supply chain problems are also pushing up costs for manufacturers, points out Duncan Brock, group director at CIPS:“Though manufacturing was buoyed up by Brexit panic buying and saw the fastest rise in purchasing sinc
  
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• Lidl ad prices ruled as misleading, advertising watchdog says

  16-12-2020 13:13 via retailgazette.co.uk
  // Lidl’s recommended retail prices in its ads ruled as misleading according to ASA
  // Lidl ran a series of ads in April and May this year on its own website and in leaflets
  // Aldi complained the claimed rrps differed from the prices at which the featured products were generally soldThe advertising watchdog has ruled that Lidl’s recommended retail prices in its ads were misleading, following a complaint from Aldi.
  Lidl ran a series of ads in April and May this year on its own w
  
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• Accounting: losing goodwill

  16-12-2020 12:53 via ft.com
  Many investors are sophisticated enough to understand companies than what is in securities filings
  
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• Travis Perkins sales rise thanks to DIY demand

  16-12-2020 12:35 via retailgazette.co.uk
  // Travis Perkins reports rise in like-for-like sales in October and November
  // The company said it has benefited from ongoing strong demand across the DIY marketTravis Perkins has witnessed an 8.6 per cent increase in like-for-like sales in October and November after it bounced back from store closures as part of a restructuring exercise.
  The company said it has benefited from ongoing strong demand across the DIY market which has resulted in strong sales at its Wickes and Toolstation chains.
  D
  
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• Debenhams launches closing down sale amid liquidation

  16-12-2020 12:21 via retailgazette.co.uk
  // Debenhams launches closing down sale
  // The department store is liquidating after a sales process collapsed last week
  // It still has no confirmed buyer, although Frasers Group & Authentic Brands have expressed interestDebenhams has launched a closing down sale despite receiving no offers from interested buyers since going into liquidation.
  The department store chain is offering up to half price off many items and even up 70 per cent off some in its physical stores and via its online busi
  
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• H&M “paid the price for being late to the online party” in 2020 according to experts

  16-12-2020 12:19 via chargedretail.co.uk
  
  H&M has “paid the price for being late to the party online” this year seeing its full year sales drop nearly 20 per cent.
  According to GlobalData’s retail analyst Emily Salter, H&M’s failure to invest in its online operations has left it lagging behind rivals whose ecommerce sales have been able to offset in-store sales declines due to lockdown closures.
  It comes after H&M’s fourth quarter results revealed a 15 per cent sales decline to £4.68 bill
  
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• Debenhams launches closing down sale despite no confirmed buyers

  16-12-2020 12:06 via retailgazette.co.uk
  // Debenhams launches closing down sale
  // The department store has not confirmed a buyer
  // Frasers Group and Authentic Brands have expressed interestDebenhams has launched a closing down sale despite receiving no offers from interested buyers since going into liquidation.
  The department store chain is offering up to half price off many items and even up 70 per cent off some in its physical stores and via its online business.
  The company went into liquidation on December 1, putting 12,000 jobs
  
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• Hamleys to launch entire range on Ebay in bid to boost online presence

  16-12-2020 11:11 via chargedretail.co.uk
  
  Hamleys is set to launch its entire range of toys on Ebay’s marketplace for the first time as it seeks to expand its online presence in the face of the pandemic.
  The world’s oldest toyshop, launched in 1760, is hoping to modernise its operations by launching more than 1600 products on Ebay.
  As its flagship Regent Street store prepares for a further drop in footfall as London enters Tier 3 restrictions, Hamleys is hoping to entice shoppers online by offering discounts of up to 40 per
  
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• Asda owners line up adviser to sell off logistics portfolio

  16-12-2020 10:26 via retailgazette.co.uk
  // Asda billionaire owners hire adviser to offload the grocer’s logistics portfolio
  // Issa brothers and private equity firm TDR Capital have lined up advisers Eastdil Secured
  // The process is not expected to be finalised until the acquisition of the grocer is completeAsda owners Issa brothers have reportedly drafted in advisers to prepare for the sale of the Big 4 grocer’s logistics portfolio.
  The brothers who own petrol empire EG Group, and private equity firm TDR Capital have col
  
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• Julian Dunkerton made permanent Superdry CEO amid board reshuffle

  16-12-2020 10:15 via retailgazette.co.uk
  // Julian Dunkerton made permanent CEO of Superdry, after being appointed on interim basis last year
  // Silvana Bonello appointed chief operating officer
  // Peter Williams to step down as chairman next yearSuperdry has undergone a boardroom reshuffle that entailed the appointment of a new chief operating office, the resignation of its chairman and making co-founder Julian Dunkerton chief executive on a permanent basis.
  Dunkerton, who also holds a 20 per cent stake in the fashion retailer, was fi
  
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• UK retail CEOs earn among highest multiples of employees’ wages

  16-12-2020 10:01 via retailgazette.co.uk
  // Think-tank High Pay Centre and the Standard Life Foundation publish new report which highlights disparity in earnings between retail chiefs and workers
  // Ocado paid its chief executive about 2600 times its average worker last year
  // Tesco and JD Sport have the biggest gap between pay for their CEOs and the average workerA new report has shown that UK retail chiefs earn among highest multiples of their workers’ wages.
  Think-tank High Pay Centre and the Standard Life Foundation fou
  
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• Creditors green light Moss Bros CVA proposals

  16-12-2020 09:32 via retailgazette.co.uk
  // Moss Bros CVA proposal approved by 80% of its creditors
  // Full details of the CVA have not been provided – especially around whether it would impact its 800 staff
  // CVA comes less than a year after Brigadier Acquisition acquired Moss Bros for £22.6mCreditors have voted in favour of approving major restructuring plans put forward by formal menswear retailer Moss Bros.
  Last month the high street chain revealed plans to launch a CVA in a bid to secure rent reductions.
  On Tuesday, M
  
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• UK inflation driven down by discounting from clothing retailers

  16-12-2020 09:27
  
  ONS says consumer prices index fell to 0.3% in November from 0.7% a month earlierCoronavirus – latest updatesSee all our coronavirus coverageSteep discounting by clothing retailers pushed down UK inflation in November as the second national coronavirus lockdown in England and tough restrictions across the country kept consumers away from the high street.The Office for National Statistics (ONS) said the consumer prices index (CPI) fell to 0.3% in November from 0.7% a month earlier, with ret
  
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• Dixons Carphone holds back on repaying business rates

  16-12-2020 09:26 via ft.com
  Electronics retailer reports a 15 per cent rise in sales and a near tripling of UK profits
  
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• Dixons Carphone back in profit thanks to pandemic sales surge

  16-12-2020 09:17 via retailgazette.co.uk
  // Dixons Carphone posts statutory pre-tax profits of £45m for the half year, against losses of £86m a year earlier
  // Like-for-likes in the UK & Ireland up 16%, while online sales skyrocketed 145%
  // Same-store sales increased 16% in the 6 weeks to December 12 despite fresh lockdownsBooming online sales during the pandemic helped electricals retailer Dixons Carphone swing to a half-year profit as it overcame a hit from store closures during lockdowns.
  The Currys PC World parent
  
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• Cheaper clothing & food slows inflation

  16-12-2020 09:02 via retailgazette.co.uk
  // UK inflation in November decreases to 0.3%, down from 0.7% in October
  // Analysts had predicted that inflation would only dip to 0.6%
  // Sliding clothing, footwear and grocery food costs made the largest contribution to lower inflationUK inflation slowed down in November as clothing and food prices shrank amid tightened coronavirus restrictions.
  The ONS said Consumer Prices Index (CPI) inflation decreased to 0.3 per cent for the month, from 0.7 per cent in October.
  It was below the expectatio
  
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• UK inflation drops as Black Friday sales push clothing prices down – business live

  16-12-2020 08:55
  
  Rolling coverage of the latest economic and financial newsCPI inflation falls to 0.3% in NovemberClothing and footwear prices fell sharplyONS: Increased discounting in November 7.51am GMT Last month, my colleague Molly Blackall highlighted the scale of discounting on Black Friday – with some online retailers selling clothes and shoes for just pennies each.She wrote:Clothing brand Pretty Little Thing offered deals of up to 99% off, with high-heeled shoes on sale for 25p and dresses for 8p.
  
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• 'I’ve been watering the plants with bottled water!' What the panic-buyers did next

  16-12-2020 07:00
  
  What happened to the coronavirus preppers who rushed out and stripped the supermarket shelves of loo rolls, pasta and other essentials?The loo roll went first, multipacks of it, stuffed into the boots of family cars or carted home in carrier bags. Next was the pasta, tinned soup, dried legumes and – bizarrely, given that Covid at no point threatened the UK’s water supply – mineral water. Many scoffed at these coronavirus preppers in February, dismissing them as cranks. Then, as
  
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• UK retail chiefs earn among highest multiples of workers’ wages

  16-12-2020 01:01 via ft.com
  Report comparing boardroom and shopfloor pay highlights yawning disparity in earnings
  
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• Retail chiefs in UK earn among highest multiples of workers’ wages

  16-12-2020 01:01 via ft.com
  Report comparing boardroom and shopfloor pay highlights yawning disparity in earnings
  
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• Pay gap in Britain between executives and workers 'obscene', says union

  16-12-2020 01:01
  
  Report reveals ‘runaway train’ of inequality in corporate Britain, led by Ocado Unions have described companies who pay their chief executives huge multiples of their workers average salary as obscene, and called on ministers and shareholders to act to end the “runaway train” of inequality in corporate Britain.A report by the High Pay Centre thinktank on Tuesday revealed that Ocado, the online supermarket, had the biggest pay gap between those at the top and those on the
  
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• Travis Perkins reports strong performance at Wickes and Toolstation

  16-12-2020 01:00 via theretailbulletin.com
  
  Travis Perkins has reported an 8.6% increase in like-for-like sales in October and November after it made good progress in retaining sales from branches closed as... View Article
  
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• Superdry announces board changes

  16-12-2020 01:00 via theretailbulletin.com
  
  Superdry has bolstered its executive management team with the hiring of Silvana Bonello as chief operating officer.  In addition, the fashion retailer has  appointed Julian Dunkerton... View Article
  
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• Infra and Perfumarie to launch joint venture retail concept in Asia

  16-12-2020 01:00 via theretailbulletin.com
  
  Infra Apparel Group has teamed up with Perfumarie, the brand incubator for sensory companies from around the world, to create a new joint venture to expand... View Article
  
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• Holland & Barrett rolls out new store concept to further stores

  16-12-2020 01:00 via theretailbulletin.com
  
  Holland & Barrett has rolled out its new store design to shops in Angel Islington and Hemel Hempstead. The move follows the launch of a new... View Article
  
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• Hamleys launches first shop on eBay

  16-12-2020 01:00 via theretailbulletin.com
  
  Toy retailer Hamleys has launched its first shop on eBay as part of plans to expand its online presence. The store will feature over 1,600 lines... View Article
  
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