Retail news

• Primark says tier 4 extension will knock further £220m off sales

  31-12-2020 16:42
  
  Cut-price fashion chain more affected by store closures than rivals because it does not sell onlineCoronavirus – latest updatesSee all our coronavirus coveragePrimark has said it will lose an additional £220m in sales as more stores are forced to close under new restrictions to control the spread of Covid-19 in the UK.The cut-price fashion chain’s owner, Associated British Foods, said it expected to lose £650m in sales in the year to September, up from the £430m it
  
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• Happy New Year from Retail Gazette

  31-12-2020 13:00 via retailgazette.co.uk
  Happy New Year to all of our readers here at Retail Gazette!
  It’s no secret that 2020 was unforgiving for the retail industry and its hundreds of thousands workers, but the sector has time and time again proven resilient and we are hopeful that 2021 will bring more positive news.
  More importantly though, we appreciate and value your support and readership. We do not take it for granted.
  We look forward to seeing you again when we return to the office on January 4.
  Click here to sign up to
  
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• 15 high streets to “bounce back” with £255m funding

  31-12-2020 12:10 via retailgazette.co.uk
  // The Future High Streets Fund has allocated £255m to 15 areas in England
  // The funding is aimed at helping regenerate high streets and creating new jobs
  // Another 57 areas have received provisional funding offers totalling up to £576mThe government has allocated £255 million from the £830 million Future High Streets Fund to 15 areas in England.
  The funding is aimed at helping regenerate high streets and creating new jobs, particularly after a tough year.
  As well as th
  
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• Tesco named and shamed for underpaying 78,000 workers

  31-12-2020 11:53 via retailgazette.co.uk
  // Tesco has topped a list of firms who have failed to pay workers the minimum wage
  // The grocer is the UK’s largest private sector employer with around 300,000 staff
  // The blacklist was compiled from probes between 2016 and 2018Tesco has been named and shamed by the government after topping a list of firms who have failed to pay workers the minimum wage.
  The grocer, which is the UK’s largest private sector employer with around 300,000 staff, has been underpaying 78,199 worker
  
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• Tiffany & Co shareholders approve £11.6bn LVMH takeover

  31-12-2020 11:43 via retailgazette.co.uk
  // Tiffany & Co shareholders vote to approve £11.6 billion LVMH takeover
  // Over 99% of shareholders voted in favour of the takeover after more than a year of negotiations
  // LVMH made the first offer late last year but backed out when the Covid-19 pandemic struckTiffany & Co shareholders have voted to approve a $15.8 billion (£11.6 billion) takeover from French luxury fashion giant LVMH after a lengthy courtship.
  Over 99 per cent of shareholders voted in favour of the takeov
  
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• Aldi to ramp up support for British suppliers with £3.5bn investment

  31-12-2020 11:24 via retailgazette.co.uk
  // Aldi to spend an additional £3.5bn on UK-produced food and drink annually within the next 5 years
  // The initiative will help over 1000 small businesses in its supply chain
  // Aldi is also investing £500m in new and upgraded stores, distribution centres and its supply chain in 2021Aldi is ramping up its support for British suppliers by unveiling plans to spend an extra £3.5 billion on UK-produced food and drink annually within the next five years.
  The initiative will help ov
  
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• Tesco offers to help with roll-out of Covid-19 vaccine

  31-12-2020 11:02 via retailgazette.co.uk
  // Tesco offers up subsidiary Best Food Logistics to help with the roll out of AstraZeneca vaccine
  // The grocer is offering to help ministers roll out vaccines for Covid-19
  // The UK has ordered 100 million doses of the vaccineTesco has reportedly offered up its distribution arm to help with the roll out of the AstraZeneca vaccine.
  The Big 4 leader offered to help ministers roll out vaccines for Covid-19 as the private sector ramps up its support for the immunisation programme, The Te
  
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• The UK's year in business: the winners, losers and bumper pay packets

  31-12-2020 08:17
  
  From the decimation of several industries amid the Covid pandemic to the rise of Zoom, 2020 has been an unprecedented year
  Coronavirus – latest updatesSee all our coronavirus coverageIt was an unprecedented year that none of us will forget. The coronavirus pandemic shook the world of business and economics to its core and continues to have profound, often unpredictable effects, some of them permanent. It hasn’t all been about Covid-19 though. 2020 also witnessed the usual corporate c
  
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• Sector by sector: are British firms ready for post-Brexit trade?

  31-12-2020 07:00
  
  Analysis: From retail to aviation to pharmaceuticals, we look at what will change from 1 JanuaryAfter months of tortuous negotiations between the UK and the EU, a Brexit trade deal was agreed at almost the last minute. But how prepared are UK businesses for the significant changes that will come into force on 1 January? Are they happy with the terms of the agreement? Continue reading...
  
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• Covid winners, losers and bumper pay packets: the UK's year in business

  31-12-2020 07:00
  
  From the decimation of several industries amid the pandemic to the rise of Zoom, 2020 has been an unprecedented year
  Coronavirus – latest updatesSee all our coronavirus coverageIt was an unprecedented year that none of us will forget. The coronavirus pandemic shook the world of business and economics to its core and continues to have profound, often unpredictable effects, some of them permanent. It hasn’t all been about Covid-19 though. 2020 also witnessed the usual corporate chicane
  
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• How the pandemic is changing the luxury market

  31-12-2020 06:00
  High-end consumer goods proved remarkably resilient in 2020 — but the Covid-19 crisis is reshaping the sector in lasting ways
  
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• Future of luxury: How the market will change in 2021

  31-12-2020 06:00
  High-end consumer goods proved remarkably resilient in 2020 — but the Covid-19 crisis is reshaping the sector in lasting ways
  
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• Future of luxury: A look at the year ahead

  31-12-2020 06:00
  High-end consumer goods proved remarkably resilient in 2020 — but the Covid-19 crisis is reshaping the sector in lasting ways
  
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• Extension of Tier 4 restrictions force further non-essential closures

  31-12-2020 01:07 via retailgazette.co.uk
  // Tier 4 restrictions have been extended which will affect most of England
  // Non-essential retailers have shut stores in affected areas
  // Birmingham, Greater Manchester and Nottingham are among the retail destinations where Tier 4 rules have come into forceNon-essential retailers have been forced to shut their stores from Thursday in regions where Tier 4 restrictions have been extended to, which covers three-quarters of England’s population.
  Birmingham, Greater Manchester and Nottingham
  
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