Retail news

• Without a long-term plan, Rishi Sunak risks wrecking Britain's economy | Carys Roberts

  06-01-2021 18:38
  
  Families and businesses face ruin. They need more than half measures from the chancellorThe government’s response to Covid has been one of political brinkmanship. It dithered over the enforcement of a first, second and third lockdown – despite scientists warning that restrictions were necessary. It gave businesses little clarity about the continuation of the furlough scheme in the autumn, leading to a wave of redundancies. It informed teachers that schools would remain open through J
  
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• Is this the end of duty free retail in the UK?

  06-01-2021 18:12 via retailgazette.co.uk
  Retailers with shops in UK airports, and luxury retailers in general, face an uncertain future.
  In September, the Treasury made a surprise announcement that unveiled plans to end two schemes providing VAT-free shopping for tourists, which were to be withdrawn at the end of the Brexit transition period on New Year’s Day. The Treasury backed up its decision by stating that it wanted to personal duty and tax systems in line with international norms.
  Annually millions of non-EU visi
  
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• In The Style introduces 40% discount for key workers

  06-01-2021 17:27 via retailgazette.co.uk
  // In The Style announced a 40% discount scheme for all key workers as a thank you for their work amid the ongoing pandemic
  // It follows a Christmas Jumper campaign last month, which raised over £50,000 for Family ActionIn The Style has announced a 40 per cent discount scheme for all key workers following the news of the latest national lockdown measures in England and Scotland.
  The Manchester-based online fashion retailer said the discount was available to all key workers including healt
  
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• Boots owner agrees £4.8bn sale of wholesale arm to focus on retail operations

  06-01-2021 17:11 via retailgazette.co.uk
  // Walgreens Boots Alliance sells majority of its Alliance Healthcare wholesale & distribution business in £4.8bn deal
  // The sale would allow it to increase its focus on its core retail pharmacy business
  // Alliance Healthcare UK would remain as Boots’ distribution partner until 2031, despite the saleWalgreens Boots Alliance has agreed a $6.5 billion (£4.8 billion) deal to sell the majority of its Alliance Healthcare wholesale and distribution business in a bid to focus mo
  
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• Greggs forecasts first annual loss after sales slump

  06-01-2021 16:31
  
  Profits not expected to return to pre-Covid levels until 2022 at the earliestCoronavirus – latest updatesSee all our coronavirus coverageThe bakery chain Greggs has predicted the coronavirus pandemic will result in the company’s first ever annual loss, while it does not expect profits to recover until 2022.Greggs’ annual sales slumped by more than £300m year on year in 2020, pushing it to forecast a £15m full-year loss, as coronavirus restrictions closed its shops a
  
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• Alibaba’s Jack Ma is reportedly laying low purposefully but “hasn’t been captured”

  06-01-2021 14:16 via chargedretail.co.uk
  
  Alibaba’s founder and Jack Ma is reportedly lying low following the Chinese government’s crackdown on his businesses but is not “missing”.
  Earlier this week it was reported that Ma, China’s second richest man, had not been seen in public for a number of weeks after making a highly critical speech of China’s financial system, fuelling speculation he had been “captured”.
  However according to CNBC’s David Faber, sources familiar with the ma
  
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• Superdrug the latest to support vaccine rollout as MPs accused of ignoring small pharmacies

  06-01-2021 13:34 via retailgazette.co.uk
  // Superdrug to support the NHS with the Covid-19 vaccination rollout
  // Initially five key Superdrug locations, situated in the north and south of England, will deliver the vaccination service
  // The government also accused of ignoring an “army” of small pharmacies in the delivery of the vaccineSuperdrug has become the latest retailer to use its stores as vaccination hubs to support the NHS with the rollout of the Covid vaccine.
  Initially five key Superdrug locations, situated in th
  
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• M&S signs call to action on human rights abuses in Xinjiang, China

  06-01-2021 13:06 via retailgazette.co.uk
  // M&S signs up to the Call to Action to drive change at scale in China’s Xinjiang region, where Uighur people live
  // Center for Global Policy found at least half a million Uighur people have been forced to pick cotton by hand amid an ongoing anti-Muslim crackdown
  // The Call to Action notes that more than 80% of China’s cotton is grown in Xinjiang, almost 20% of global productionM&S has become one of the first retailers to formally sign the Call to Action that urges brands
  
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• British Property Federation calls for action on CVA “abuse”

  06-01-2021 12:29 via retailgazette.co.uk
  // BPF says flexibility & low cost of the UK’s insolvency framework has led to the “abuse” of CVAs
  // It also says commercial landlords were disproportionately impacted by the arrangements
  // BPF called for 5 key changes in the rules around CVAs processesThe British Property Federation has urged the government to overhaul UK insolvency rules to help tackle the “abuse” of CVAs.
  In a letter addressed to corporate responsibility minister Lord Callanan, the industry
  
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• Alibaba plans to raise up to $8bn in dollar bond sale

  06-01-2021 11:41 via ft.com
  Deal comes at delicate time for group but could be one of biggest for Chinese corporate debt market
  
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• Greggs warns profits will not recover until at least 2022

  06-01-2021 11:28 via retailgazette.co.uk
  // Greggs braced for annual pre-tax losses of up to £15m, against profits of £108.3m last year
  // Total sales for the year slumped by nearly a third – 31% – to £811mGreggs has forecast a swing to a full-year loss and warned profits will not recover until at least 2022 as the Covid pandemic hammers sales.
  The high street bakery chain – which recently axed 820 jobs – said like-for-like sales fell by nearly a fifth over its fourth quarter to January 2, runn
  
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• Online grocery sales doubled in December in biggest Christmas for supermarkets ever

  06-01-2021 11:20 via chargedretail.co.uk
  
  Online grocery sales doubled in December helping drive the most lucrative Christmas ever for the UK’s supermarkets.
  During the four weeks to December 26, online grocery sales accounted for 12.5 per cent of the UK’s total £12 billion supermarket spend, representing £1.3 billion according to the latest data from Nielsen.
  This was double the 6.7 per cent share of total sales online grocery achieved in the same period a year earlier, marking the biggest December on record.
  Ac
  
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• Greggs forecasts first annual loss since 1984 after sales slump

  06-01-2021 10:17
  
  Profits not expected to return to pre-Covid levels until 2022 at the earliestCoronavirus – latest updatesSee all our coronavirus coverageThe bakery chain Greggs is forecasting that the coronavirus pandemic will result in the company posting its first annual loss since the mid-1980s, while it does not expect pre-Covid profit levels to return until 2022 at the earliest.Greggs annual sales slumped by more than £300m year on year in 2020, pushing it to forecast a £15m full-year los
  
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• Topps Tiles sales rise but warns new lockdown will impact trading

  06-01-2021 10:04 via retailgazette.co.uk
  // Topps Tiles sales rise in its first quarter
  // The retailer said the latest lockdown will impact trading
  // Like-for-like sales rose 19.9% in the period to December 26Topps Tiles has witnessed a strong sales growth in its first quarter but has warned on the impact of the latest national lockdown.
  The DIY retailer saw its like-for-like sales climb 19.9 per cent in the period to December 26, compared to a 5.4 per cent decline in the previous comparable period.
  However, it said that changes to s
  
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• Travis Perkins poaches advocacy group leader as new chair

  06-01-2021 09:46 via retailgazette.co.uk
  // Travis Perkins hires Jasmine Whitbread as new chair
  // She will replace Stuart Chambers, who took up the role of chairman in November 2017
  // Whitbread is currently the chief executive of London FirstWickes owner Travis Perkins has unveiled the replacement for Stuart Chambers as chair, following a “rigorous” selection process.
  The DIY retailer has appointed Jasmine Whitbread as the new chair.
  Whitbread is currently the chief executive of London First but will leave the organisatio
  
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• JD Sports continues buying spree with Wellgosh takeover

  06-01-2021 09:14 via retailgazette.co.uk
  // JD Sports acquires independent menswear retailer Wellgosh
  // Wellgosh is the latest brand to be added to JD Sports’ portfolio
  // The family-run business was founded in Leicester 30 years agoJD Sports has reportedly acquired independent menswear retailer Wellgosh for an undisclosed sum.
  Pete Turner founded the Leicester-based business around 30 years ago, when it was based in a small store in Leicester’s Silver Arcade.
  Wellgosh relocated to larger premises in the main shopping area
  
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• M&S to buy Jaeger from Edinburgh Woollen Mill Group this week

  06-01-2021 08:50 via retailgazette.co.uk
  // M&S to buy Jaeger as soon as this week
  // Jaeger is owned by Philip Day’s Edinburgh Woollen Mill Group
  // The company went into administration last NovemberMarks & Spencer is reportedly close to signing a deal to purchase Jaeger from administrators to Edinburgh Woollen Mill (EWM) Group.
  Jaeger, which is owned by Philip Day’s clothing empire, was forced to appoint administrators last November after the Covid-19 pandemic hammered its business.
  M&S could sign an agreement
  
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• Greggs to expand despite pandemic hit

  06-01-2021 08:40 via ft.com
  Bakery chain plans to open 100 shops this year
  
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• Greggs plans to open 100 new stores in shadow of pandemic

  06-01-2021 08:40 via ft.com
  Chain remains bullish despite facing its first annual loss since 1984
  
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• December shop prices fall as retailers battle for customers’ Christmas spend

  06-01-2021 08:22 via retailgazette.co.uk
  // Shop prices dropped in December as retailers attempted to benefit from last-minute Christmas spend
  // Shop prices dropped 1.8% in December – the same as the previous month
  // This was below both the 12- and six-month decreases of 1.4% and 1.6% respectivelyShop prices in December have dropped as supermarkets battled for consumer spend by offering the value festive goods.
  New research found that shop prices dropped 1.8 per cent in December, the same as the previous month, as retailers use
  
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• Waitrose predicts seaweed will be a must-have ingredient of 2021

  06-01-2021 01:00 via theretailbulletin.com
  
  Waitrose has predicted that seaweed is likely to be a must-have cooking ingredient of 2021 after seeing sales rise by 23% last year. The supermarket said... View Article
  
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• Travis Perkins appoints Jasmine Whitbread as chair

  06-01-2021 01:00 via theretailbulletin.com
  
  Wickes owner Travis Perkins has announced that Jasmine Whitbread will succeed Stuart Chambers as chair when he steps down on 31 March. The appointment follows a... View Article
  
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• Our year of opportunity: 2021 annual workplace predictions from The Workforce Institute at UKG

  06-01-2021 01:00 via theretailbulletin.com
  
  The Workforce Institute at UKG today released its annual predictions of the top trends that will impact the global workforce in 2021. “2020’s legacy will be... View Article
  
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• Morrisons to host vaccine centres in its car parks

  06-01-2021 01:00 via theretailbulletin.com
  
  Morrisons has offered some of its car parks for use in helping to roll out Covid-19 vaccines. From next Monday, three supermarkets will be hosting drive-thru... View Article
  
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• Harvey Nichols appoints chief executive

  06-01-2021 01:00 via theretailbulletin.com
  
  Harvey Nichols has promoted Manju Malhotra to the role of chief executive. Previously chief operating officer of the department store, she will be responsible for its... View Article
  
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• Greggs fourth quarter sales hit by Covid-19 restrictions

  06-01-2021 01:00 via theretailbulletin.com
  
  Greggs saw its total sales reach £293 million in its fourth quarter compared to £344 million in the same period in the previous year. In addition,... View Article
  
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• Coty completes purchase of 20% stake in Kim Kardashian West business

  06-01-2021 01:00 via theretailbulletin.com
  
  Coty has completed the acquisition of a 20% ownership interest in Kim Kardashian West’s business for $200 million In a statement, Coty said the acquisition will... View Article
  
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• Bensons expands virtual appointments and offers stores for use as vaccine centres

  06-01-2021 01:00 via theretailbulletin.com
  
  Bensons for Beds is expanding its virtual appointments service after closing all its stores due to the new Covid-19 lockdown. The bed retailer has increased capacity... View Article
  
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