Retail news

• Rishi Sunak, give business a long-term Covid plan now

  05-01-2021 21:09
  
  The £4.6bn support package is welcome but firms need clarity long before the March budget Coronavirus – latest updatesSee all our coronavirus coverageThanks for the latest £4.6bn support package, chancellor, but when will you be serving the main course? That was the gist of the business world’s response to Rishi Sunak’s announcement of grants for the retail, hospitality and leisure sectors. One could call the reply churlish, but companies’ demand for clarity &
  
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• Marks & Spencer looks to snap up Jaeger

  05-01-2021 21:03
  
  M&S expected to buy Jaeger’s brand and stock, but not its scores of shops, reports sayMarks & Spencer is finalising a deal to buy upmarket fashion brand Jaeger as it seeks to bolster its clothing business with new names.M&S has been linked to Jaeger since it fell into administration in November, as part of entrepreneur Philip Day’s stricken Edinburgh Woollen Mill Group, which also owns Peacocks and Austin Reed. Both M&S and Jaeger were founded in the 1880s. Continue r
  
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• Morrisons can have its online cake and eat it

  05-01-2021 19:56 via ft.com
  Price cuts and champagne give supermarket chain cause to celebrate; Plus500 still can’t silence the doubters
  
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• Retail 2021: What to expect in the year ahead

  05-01-2021 18:41 via retailgazette.co.uk
  Although 2020 was a tough year for retail – with the pandemic leading to several lockdowns, the start of a recession and a series of business restructures and administrations – 2021 presents a whole new set of challenges.
  Many remain cautious or sceptical as to what this year represents for UK retail. But thanks to the news of the vaccines, hope is on the horizon.
  Predicting the path for UK retail this year all depends on the course of the pandemic, especially around infection rates
  
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• Retail Think Tank upbeat about sector’s health in second half 2021

  05-01-2021 17:25 via retailgazette.co.uk
  // UK retailers should prepare for a brighter outlook for the second half of 2021, says Retail Think Tank
  // Sales growth expected between flat and 3% for the year
  // Think tank also says shifts in consumer behaviour will impact the grocery sector permanently and calls for business rates reformThe UK retail sector should be able to look ahead to a brighter outlook in the second half of 2021, according to a think tank of retail experts.
  The KPMG/Ipsos Retail Think Tank said pent up savings and de
  
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• England prepares for a wintry third lockdown – in pictures

  05-01-2021 17:12
  
  Empty streets and shuttered shops as England grits its teeth for a new lockdown, with people allowed to leave their homes for limited reasons only, and measures expected to stay until mid-February or even MarchCoronavirus – latest updatesSee all our coronavirus coverage Continue reading...
  
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• Next/consumer credit: the loan view

  05-01-2021 16:51 via ft.com
  Shoppers offer hope that debt-fuelled consumption is creeping back, but households are still deleveraging
  
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• Next and Morrisons beat high street blues as Paperchase set to collapse

  05-01-2021 16:22 via ft.com
  Strong online sales ease lockdown pressures for fashion and grocery groups
  
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• Next and Morrisons beat high street blues as Paperchase faces collapse

  05-01-2021 16:22 via ft.com
  Strong online sales ease lockdown pressures for fashion and grocery groups
  
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• Markets lose steam as UK businesses call for larger lockdown support package - as it happened

  05-01-2021 15:55
  
  Rolling coverage of the latest economic and financial news as England and Scotland enter tough Covid restrictionsEngland lockdown: what are the new Covid restrictions?Coronavirus – latest updatesSee all our coronavirus coverage 2.55pm GMT Non-essential businesses have been forced to close across England and Scotland overnight after being plunged into new national lockdowns following a spike in Covid cases. Airlines have been cancelling UK flights in light of lockdown measures.2.34pm GMT US
  
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• UK lockdowns push Paperchase to verge of administration

  05-01-2021 15:28
  
  Closure of card and stationery chain’s high street stores in run-up to Christmas puts 1,500 jobs at riskCoronavirus – latest updatesSee all our coronavirus coverageThe cards and stationery retailer Paperchase is on the brink of administration after pre-Christmas store closures put an “unbearable strain” on the high street, putting 1,500 jobs at risk.The company, which has 173 stores and concessions, has filed a notice to appoint administrators as it tries to put together
  
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• Paperchase files intent to appoint administrators

  05-01-2021 14:59 via ft.com
  Stationery group likely to be first retail casualty of 2021
  
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• EU online retailers are refusing to export to the UK over new Brexit taxes

  05-01-2021 14:56 via chargedretail.co.uk
  
  Online retailers from the European Union are refusing to deliver goods to the UK because of new Brexit taxes that came into force last week.
  A number of specialist online retailers from the EU have been forced “by British policy to stop dealing with British customers”.
  According to BBC News, Dutch Bike Bits said it will now deliver to every country in the world except the UK, while Beer On Web, a beer retailer from Belgium, said it would also shun he UK due to the new measu
  
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• Record 500,000 people pledge to eat only vegan food in January

  05-01-2021 14:42
  
  Veganuary taken up by rising number of people trying plant-based alternatives to meatA record 500,000 people have signed up to the Veganuary challenge to eat only plant-based foods for a month. The milestone is double the number who pledged to go vegan for January in 2019.A quarter of those taking up the challenge – 125,000 – are in the UK, and this year British supermarkets including Tesco have run television and radio adverts promoting Veganuary for the first time. Other supermarke
  
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• Paperchase on the verge of appointing administrators

  05-01-2021 14:03 via retailgazette.co.uk
  // Paperchase files notice to appoint administrators from PwC to advise on insolvency process
  // The move towards administration driven by poor sales in November & December
  // Paperchase launched a CVA restructuring last March in an attempt to turn around its fortunesPaperchase is on the brink of collapsing into administration after sales were hammered by closures at the end of last year.
  The stationery retailer, which has 127 stores and 1500 employees, confirmed it has filed a notice to app
  
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• Grocers under pressure after lockdown surge in demand

  05-01-2021 13:54 via retailgazette.co.uk
  // Grocers under pressure after shoppers raced to book deliveries ahead of new national lockdowns
  // Kantar figures this morning confirm that Brits spent £11.7bn in supermarkets in Dec, making it their busiest month ever
  // Ocado ended the year as the UK’s fastest growing grocer after a 36.5% sales surge over ChristmasThe UK grocery sector has been flooded with demand amid tightening coronavirus restrictions over the past two months, after industry figures confirmed a record month of
  
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• Markets lose steam as UK businesses call for larger lockdown support package - business live

  05-01-2021 13:15
  
  Rolling coverage of the latest economic and financial news as England and Scotland enter tough Covid restrictionsEngland lockdown: what are the new Covid restrictions?Coronavirus – latest updatesSee all our coronavirus coverage 12.13pm GMT The FTSE 250 is one of the last bright spots across European equity markets. But the UK’s domestically-focused index has lost nearly half of its gains and is up just 0.5% compared to 1% just a few hours ago. Here is a snapshot of how European equit
  
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• Morrisons offers vaccine drive-through in 50 of its car parks

  05-01-2021 13:10 via chargedretail.co.uk
  
  Morrisons will convert 50 of its car parks across the UK into COVID-19 vaccine centres after its chief executive said the grocer was “at the disposal of the country”.
  From Monday January 11 three Morrisons car parks will host drive-through vaccinations for local customers, while a further 47 have been offered “subject to requirements and availability of the vaccine”.
  Waitrose is also reportedly following Morrisons’ lead and offering out its HQ in Bracknell to host v
  
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• Chancellor Rishi Sunak announces £4.6bn lifeline for high streets

  05-01-2021 12:21 via retailgazette.co.uk
  // 600,000 retail, hospitality and leisure sites will be able to claim a one-off grant of up to £9000
  // It will cost the Treasury £4.6bn and are aimed to help support the high street amid new nationwide lockdown
  // Chancellor Rishi Sunak also announced a further £594m for local authorities & devolved administrationsAround 600,000 retail, hospitality and leisure sites will be able to claim a one-off grant of up to £9000, the UK Government has announced.
  The payments w
  
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• Record month for UK supermarkets as Covid brings dinner back home

  05-01-2021 11:52
  
  Sales of take-home groceries soar with pubs and restaurants forced to close in key trading periodCoronavirus – latest updatesSee all our coronavirus coverageDecember was the biggest month on record for British supermarkets as shoppers spent nearly £12bn stocking up on cheese, fresh fish and pork for a very unusual Christmas.Shoppers spent £11.7bn on take-home groceries in the four weeks to 27 December, up from the previous record of just under £11bn in November according
  
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• UK stocks rise as businesses promised extra £4.6bn in lockdown support – business live

  05-01-2021 11:14
  
  Rolling coverage of the latest economic and financial news as England and Scotland enter tough Covid restrictionsEngland lockdown: what are the new Covid restrictions?Coronavirus – latest updatesSee all our coronavirus coverage 10.14am GMT British Airways owner IAG has said it’s reviewing its flight schedule following the UK’s national lockdown, according to Reuters. We’ll bring you further updates as we get them.10.14am GMT Some business owners have fairly pointed out th
  
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• Rishi Sunak unveils £4.6bn relief package for UK retail and hospitality sectors

  05-01-2021 10:23
  
  Retail, hospitality and leisure sectors to be given one-off grants worth up to £9,000Coronavirus – latest updatesSee all our coronavirus coverageUK businesses in the retail, hospitality and leisure sectors are to be given one-off grants worth up to £9,000, with the measure costing £4bn, the chancellor, Rishi Sunak, has announced.The payments are expected to support 600,000 business properties across the UK. A further £594m will be made available to councils and devo
  
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• Markets rise despite fresh nationwide Covid lockdowns in England, Scotland – business live

  05-01-2021 10:12
  
  Rolling coverage of the latest economic and financial news as England and Scotland enter tough Covid restrictionsEngland lockdown: what are the new Covid restrictions?Coronavirus – latest updatesSee all our coronavirus coverage 9.12am GMT BREAKING: Chancellor Rishi Sunak has announced new support for businesses hit by fresh lockdowns. Support includes:9.00am GMT Going back to Next, chief executive Simon Wolfson has confirmed that the retailer is part of a consortium bidding for some Arcadi
  
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• M&S expands Goodmove range as athleisure sales rise by 200%

  05-01-2021 10:12 via retailgazette.co.uk
  // M&S is adding kidswear and menswear to its Goodmove range
  // The retailer said sportswear and casual clothing has been in demand since the pandemic began
  // M&S said 52% of customers reported wearing activewear more as everyday clothing last yearMarks & Spencer has expanded its activewear range as Brits turn to athleisure during the Covid-19 pandemic.
  M&S is adding kidswear and menswear to its Goodmove range – launched at the start of 2020 – later this month.
  The r
  
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• M&S expands athleisure range to kidswear and menswear

  05-01-2021 10:12 via retailgazette.co.uk
  // M&S is adding kidswear and menswear to its own-brand Goodmove range
  // The retailer said sportswear and casual clothing has been in demand since the pandemic began
  // M&S said 52% of customers reported wearing activewear more as everyday clothing last yearMarks & Spencer has expanded its activewear range for children and men as Brits turn to athleisure during the Covid-19 pandemic.
  M&S is adding kidswear and menswear to its Goodmove range – launched at the start of 2020
  
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• Next online sales “compensate for lost trading in stores” over Christmas

  05-01-2021 09:43 via retailgazette.co.uk
  // Next sales down 1.1% year-on-year in the 9 weeks to December 26
  // Online sales in the UK were up 36% during the period
  // It expects a 14% loss in full-price retail sales this month due to lockdownNext sales have dropped by 1.1 per cent year-on-year in the nine weeks to December 26, which were “much better” than expected considering the impact of Covid-19 restrictions.
  The fashion retailer said online sales “compensated for almost all those lost in retail stores”.
  It
  
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• Next's Christmas profits better than expected, buoyed by online sales

  05-01-2021 09:35
  
  Chief executive warns that gains will be almost entirely offset by latest Covid restrictionsNext has emerged as a winner from a tough Christmas period as sales transferred from shuttered stores to its website but the fashion chain warned new lockdown measures would wipe out the extra profit it had made.The retailer’s chief executive Simon Wolfson said profit from better than expected sales in November and December would be almost entirely offset by this month’s new lockdown restricti
  
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• Non-essential retailers to shut across England as national lockdown implemented again

  05-01-2021 09:25 via retailgazette.co.uk
  // Non-essential retailers in England to shut stores following a third national lockdown
  // Boris Johnson said this came as a result of the rapidly spreading new strain of coronavirus
  // England’s lockdown will be in place until at least mid-FebruaryNon-essential retailers have been forced to shut their stores across England following a third national lockdown to curb the spread of Covid-19.
  England and Scotland will both re-enter national lockdowns this week with people told to stay at ho
  
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• Non-essential retailers to shut across England as lockdown returns

  05-01-2021 09:25 via retailgazette.co.uk
  // Non-essential retailers in England to shut stores following a third national lockdown
  // Boris Johnson said this came as a result of the rapidly spreading new strain of coronavirus
  // England’s lockdown will be in place until at least mid-FebruaryNon-essential retailers have been forced to shut their stores across England following a third national lockdown to curb the spread of Covid-19.
  England and Scotland will both re-enter national lockdowns this week with people told to stay at ho
  
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• City Bulletin: Next and Morrison prove resilient in face of coronavirus

  05-01-2021 09:22 via ft.com
  Plus500 co-founder steps down while political pressure grows on HSBC
  
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• Morrisons warns of Covid-19 costs despite Christmas sales rise

  05-01-2021 09:00 via retailgazette.co.uk
  // Morrisons sales rise during the Christmas and New Year period
  // Like-for-like sales, excluding fuel, rose 8% in the 22 weeks ending January 3
  // Morrisons did not issue new guidance due to “extremely unpredictable current circumstances”Morrisons sales have risen by over nine per cent during the Christmas and New Year period, as Brits shopped early for festive treats.
  The Big 4 grocer said champagne sales were up 64 per cent compared to last year, while whole salmon sales ros
  
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• Morrisons warns of Covid-19 costs despite Christmas sales increase

  05-01-2021 09:00 via retailgazette.co.uk
  // Morrisons sales rise during the Christmas and New Year period
  // Like-for-like sales, excluding fuel, rose 8% in the 22 weeks ending January 3
  // Morrisons did not issue new guidance due to “extremely unpredictable current circumstances”Morrisons sales have risen by over nine per cent during the Christmas and New Year period, as Brits shopped early for festive treats.
  The Big 4 grocer said champagne sales were up 64 per cent compared to last year, while whole salmon sales ros
  
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• Morrisons sparkles with 8.5% rise in sales over festive period

  05-01-2021 08:59
  
  Champagne and salmon lead the way as expectations rise for UK supermarket salesStrong demand for luxury Christmas favourites helped to drive an 8.5% rise in sales at Morrisons over the festive period, as the chain kicked off reporting on what is expected to be a bumper trading period for supermarkets.Morrisons said online sales had tripled and growth was boosted by strong demand for festive favourites such as champagne and salmon as families made the most of the quieter festivities. Continue rea
  
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• Market rally fades as England, Scotland plunged into fresh lockdowns – business live

  05-01-2021 08:55
  
  Rolling coverage of the latest economic and financial news as England and Scotland enter tough Covid restrictionsEngland lockdown: what are the new Covid restrictions?Coronavirus – latest updatesSee all our coronavirus coverage 7.55am GMT CBI director general Tony Danker also told the BBC that he expects that the Treasury, and the business department “will come out in the next few days” with support for businesses. But it looks like today may be the day. Cabinet minister Michae
  
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• Next expects profits to recover quickly after pandemic hit

  05-01-2021 08:43 via ft.com
  Retailer has benefited from its online offering
  
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• Philip Day’s Edinburgh Woollen Mill owes creditors over £190m

  05-01-2021 08:36 via retailgazette.co.uk
  // Edinburgh Woollen Mill owes unsecured creditors around £192 million
  // The retailer collapsed into administration in NovemberEdinburgh Woollen Mill reportedly owes its unsecured creditors, including suppliers and landlords, around £192 million, according to a report from administrator FRP Advisory.
  The retailer, owned by Philip Day’s Edinburgh Woollen Mill Group – which also includes the Country Casuals chain – collapsed into administration in November.
  A notice
  
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• Philip Day’s Edinburgh Woollen Mill Group owes creditors over £190m

  05-01-2021 08:36 via retailgazette.co.uk
  // Edinburgh Woollen Mill owes unsecured creditors around £192 million
  // The retailer collapsed into administration in NovemberEdinburgh Woollen Mill reportedly owes its unsecured creditors, including suppliers and landlords, around £192 million, according to a report from administrator FRP Advisory.
  The retailer, owned by Philip Day’s Edinburgh Woollen Mill Group – which also includes the Country Casuals chain – collapsed into administration in November.
  A notice
  
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• Morrisons sales jump as shoppers stock up on champagne and salmon

  05-01-2021 08:33 via ft.com
  Like-for-like sales rose 9 per cent over Christmas and New Year
  
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• Morrisons boosted by strong Christmas trading

  05-01-2021 01:00 via theretailbulletin.com
  
  Morrisons saw its group like-for-like sales increase by 9.3% in the three weeks to 3 January as customers shopped for Christmas food earlier than in the... View Article
  
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• Frasers Group acquires Psyche

  05-01-2021 01:00 via theretailbulletin.com
  
  Mike Ashley’s Frasers Group has acquired high-end fashion retailer Psyche for an undisclosed sum. The sale includes both Psyche’s online business and stores. Steve Cochrane, the... View Article
  
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• Footfall plummets due to lockdown restrictions

  05-01-2021 01:00 via theretailbulletin.com
  
  New data has revealed that footfall across UK retail destinations fell by 23.2% last week compared to the previous seven day period. According to figures from... View Article
  
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• Aldi reports record Christmas sales

  05-01-2021 01:00 via theretailbulletin.com
  
  Aldi’s festive trading was boosted by the popularity of its premium products which helped it to achieve its best ever Christmas sales. In the four weeks... View Article
  
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• Accelerated transformation for retailers and B2C organisations as PMC and Leading Resolutions Consulting join forces

  05-01-2021 01:00 via theretailbulletin.com
  
  Technology Service Provider, PMC, and Strategic Consultancy, Leading Resolutions have joined forces to offer a combination of expertise and delivery capability that enables accelerated transformation and... View Article
  
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