Retail news

• John Lewis boss faces confidence vote as business considers ways to seek new funds

  09-05-2023 21:31
  
  Sharon White wants to bring in investors to build flats above stores, potentially leading to the sale of stake in the businessJohn Lewis staff will pass judgment on chairman Sharon White’s controversial proposal to up-end the retailer’s decades-old partnership model when members cast their ballots in a confidence vote on Wednesday.White is considering selling a stake in the John Lewis Partnership to bring in outside investment of up to £2bn as a way to secure its future, partly
  
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• Pharmacist at former Sunak family chemist wary of PM’s health plans

  09-05-2023 19:52
  
  Jithender Ballepu says more staff and funding would be needed and has concerns about passing antibiotics over the counterThere is no plaque outside the Bassett Pharmacy in Southampton to indicate this was once run by the prime minister’s mum but there is a sign round the back that gives the game away: “Parking for Sunak Pharmacy customers.”Inside, pharmacist Jithender Ballepu was expressing reservations about Rishi Sunak’s plans for chemist shops to provide prescriptions
  
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• John Lewis staff to vote on ending partnership model in bid to stem losses

  09-05-2023 19:17
  
  Chairman Sharon White wants to ditch longstanding employee-ownership setup to bring in investors and build flats above storesJohn Lewis staff will pass judgment on chairman Sharon White’s controversial proposal to up-end the retailer’s decades-old partnership model when members cast their ballots in a confidence vote on Wednesday.White is considering selling a stake in the John Lewis Partnership to bring in outside investment of up to £2bn as a way to secure its future, partly
  
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• Deloitte under investigation over audit for retailer Joules

  09-05-2023 14:57
  
  Financial Reporting Council to look at group’s 2021 accounts, a year before it went into administrationOne of the UK’s biggest advisory firms, Deloitte, is under investigation by the UK’s accountancy watchdog in relation to its audit of fashion group Joules’ 2021 accounts.Joules, best known for its colourful wellies and waterproof coats, called in administrators in November, putting 1,600 jobs and the future of its 132 shops at risk, after failing to secure emergency fund
  
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• Under Armour to open new Oxford Street store this summer

  09-05-2023 14:54 via retailgazette.co.uk
  
  // Under Armour to open in the former Zara store at 242-248 Oxford Street
  // The sportswear brand is on a store opening spree following shop openings in Liverpool, Battersea and Westfield Stratford CityUnder Armour is poised to open a new location on Oxford Street in early summer.
  The sportswear brand will occupy Zara’s former store located near Oxford Circus on 242-248 Oxford Street, according to Drapers.
  The world’s fourth-largest sportswear brand is currently embarking o
  
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• Sainsbury’s cuts prices of own-label bread and butter

  09-05-2023 14:34
  
  Move by UK’s second-largest supermarket raises hopes that food inflation will start to come downSainsbury’s has cut the price of its own brand bread and butter, in what some are seeing as a sign that soaring food price inflation will start to come down in the coming months.The UK’s second-largest supermarket chain said it had lowered the price of its soft white medium, wholemeal medium, wholemeal thick, and toastie white loaves of bread to 75p, which is a reduction of 11%. Cont
  
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• How eBay UK is driving sustainable shopping: ‘we’re nudging, not judging’

  09-05-2023 14:04 via retailgazette.co.uk
  
  // eBay UK global fashion general manager Kirsty Keoghan on how the marketplace is pushing circular fashion
  // She insists the business is “nudging not judging” consumers to make sustainable purchasing decisionseBay has been at the forefront of sustainable shopping since its inception.
  In fact, the marketplace’s UK’s global fashion general manager Kirsty Keoghan reveals that the first item sold on the website back in 1995 was a broken laser pointer, proving that “ev
  
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• eBay UK’s global fashion manager on the pre-loved trend: ‘we’re nudging not judging’

  09-05-2023 14:04 via retailgazette.co.uk
  
  // eBay UK global fashion general manager Kirsty Keoghan on how the marketplace is pushing circular fashion
  // She insists the business is “nudging not judging” consumers to make sustainable purchasing decisionseBay UK’s global fashion general manager Kirsty Keoghan has doubled down on the online giant‘s continued push to drive sustainable fashion.
  Speaking at ShopTalk Europe in Barcelona, Keoghan reflected back on the origins of eBay, with the first item sold on the mark
  
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• Joules auditor Deloitte under investigation following collapse

  09-05-2023 13:34 via retailgazette.co.uk
  
  // The Financial Reporting Council (FRC) has launched a probe into Deloitte’s audit of Joules’ 2021 financial results
  // The high street retailer collapsed into administration in November last yearJoules auditor Deloitte is under investigation by the Financial Reporting Council (FRC) following the retailer’s collapse last year.
  The UK accounting watchdog has launched a probe into the retailer’s audited 2021 financial reports, which were signed off by Deloitte.
  The Bi
  
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• M&S boosts funding into Nobody’s Child

  09-05-2023 12:26 via retailgazette.co.uk
  
  // M&S increases its funding into Nobody’s Child to help accelerate the brand’s growth
  // The cash will be used to purchase more stock to cover increased customer demand as well as support the brand’s expansion plansM&S has injected further funding into Nobody’s Child to help boost the brand’s continued growth.
  The retailer, which owns a 27% stake in the brand, said the funding comes at a pivotal trading period for Nobody’s Child’s after its
  
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• Amazon pays shoppers $10 to pick up purchases to cut delivery costs

  09-05-2023 10:58 via retailgazette.co.uk
  
  // Amazon has offered some US shoppers $10 to collect items from pick-up points
  // It comes amid a slew of initiatives to minimise the cost of delivery and returnsAmazon is offering US customers $10 to pick up purchases instead of having it shipped to an address, as it looks to slash home delivery and returns costs.
  Over the last few days, the US retail giant has emailed an unknown number of Prime subscribers the discount to retrieve orders of $25 or more at pick-up points including Whole Foods,
  
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• Amazon gives shoppers $10 to pick up purchases instead of delivering them

  09-05-2023 10:58 via retailgazette.co.uk
  
  Amazon is reportedly offering its US customers $10 to pick up a purchase instead of having it shipped to an address, as it looks to slash home delivery and returns costs.
  Over the last few days, the US retail giant has emailed an unknown number of Prime subscribers the discount to retrieve an order of $25 or more at a pickup point including Whole Foods, Amazon Fresh and Kohl’s stores.
  A New York-based shipping consultant Dean Macuiba was among the customers who received the offer.
  The move
  
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• Deloitte under investigation by UK regulator over Joules audit

  09-05-2023 10:34 via ft.com
  Big Four firm probed over work on clothing retailer’s accounts
  
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• JD Sports to buy French retailer Courir for £453m

  09-05-2023 09:45 via retailgazette.co.uk
  
  // JD Sports sets out intentions to acquire French sportswear retailer Groupe Courir
  // The £452.7m takeover would be the first acquisition under the group’s expansion plans.JD Sports has entered exclusive talks to buy French sportswear retailer Groupe Courir for an enterprise value of £452.7m (€520m).
  The acquisition would be the first since the group set out its five-year growth plan in February.
  Courir has from 313 stores across six countries in Europe and is
  
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• Lidl recruits 1,500 warehouse staff as it unveils new DC plans in Leeds

  09-05-2023 09:44 via retailgazette.co.uk
  
  // Lidl is recruiting over 1,500 warehouse colleagues across its existing distribution network
  // The discount grocer revealed plans to open a new centre in Leeds, which will create a further 400 jobsLidl is recruiting over 1,500 warehouse staff across its existing regional distribution centre (RDC) network, as it unveils plans to build a new facility in Leeds.
  The 54,000sqm site in Gildersome, subject to approval by Leeds City Council, is set to create 400 jobs once fully operational.
  The
  
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• Tesco chair accused of inappropriate behaviour by four women

  09-05-2023 09:00
  
  Exclusive: John Allan, a prominent business leader and former CBI president, denies all but one of the allegationsOne of the UK’s most prominent business leaders, the Tesco chair John Allan, faces claims of inappropriate and unprofessional behaviour from four women, the Guardian can reveal.Allan allegedly touched the bottom of a senior member of Tesco staff in June 2022, at the company’s annual general meeting (AGM). It is also claimed that he touched the bottom of a member of staff
  
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• Data: Retail sales – high inflation masks falling volumes

  09-05-2023 08:43 via retailgazette.co.uk
  
  // Retail sales up despite consumers cutting back on spending amid high inflation
  // Like for like retail sales rose 5.2% in April, against a decline 1.7% the year beforeConsumers continue to cut back on purchases as high inflation puts pressure on discretionary spending.
  The latest study by KPMG and the British Retail Consortium showed retail sales increased 5.2% on a like-for-like basis in April, against a decline of 1.7% the year before.
  However, the figure has not been adjusted for
  
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• UK watchdog probes Deloitte audit of Joules

  09-05-2023 02:00 via theretailbulletin.com
  
  Britain’s accounting watchdog has opened an investigation into Deloitte’s audit of clothing retailer Joules Group plc. The Financial Reporting Council said its investigation is in relation... View Article
  
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• The Perfume Shop celebrates new store opening in Sunderland

  09-05-2023 02:00 via theretailbulletin.com
  
  The Perfume Shop has opened a new and improved experiential store in The Bridges Shopping Centre in Sunderland. The shop will stock the latest perfume launches,... View Article
  
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• Sunspel opens New York boutique

  09-05-2023 02:00 via theretailbulletin.com
  
  British luxury brand Sunspel has opened a new store on New York’s Madison Avenue as part of its international expansion plans. Situated on New York’s Upper... View Article
  
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• Poundstretcher CEO steps down as company eyes flotation

  09-05-2023 02:00 via theretailbulletin.com
  
  Poundstretcher’s chief executive Derek Lawlor has left the business following a difference in opinion over where the company should be headed. Lawlor joined the discount retailer... View Article
  
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• Marks & Spencer invest further in Nobody’s Child

  09-05-2023 02:00 via theretailbulletin.com
  
  Marks & Spencer has announced it has injected further funding into Nobody’s Child, as the eco-conscious fashion brand continues to go from strength to strength. Nobody’s... View Article
  
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• JD Sports to acquire French sportswear retailer Courir

  09-05-2023 02:00 via theretailbulletin.com
  
  JD Sports has agreed to acquire French sportswear retailer Courir in a €520 million deal. Courir is currently majority owned by Equistone Partners Europe which bought... View Article
  
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• iCandy appoints purchasing manager

  09-05-2023 02:00 via theretailbulletin.com
  
  Pushchair brand iCandy has appointed Peter McEleney as purchasing manager. McEleney has extensive retail sector experience after working with Dixons Carphone for over 15 years in... View Article
  
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• Consortium led by ex-Asda CEO Andy Clarke begins phased re-opening of Farmison & Co

  09-05-2023 02:00 via theretailbulletin.com
  
  Online butcher Farmison & Co has begun a phased re-opening of operations following its acquisition by a consortium led by ex-Asda chief executive Andy Clarke. The... View Article
  
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• UK shoppers cut spending amid pressure on Bank of England over inflation

  09-05-2023 01:01
  
  Sluggish retail sales and credit card spending figures add to fears for British economyConsumers are cutting back on purchases amid growing pressure on the Bank of England to tame inflation.Retail sales increased 5.2% on a like-for-like basis in April compared with the same period a year earlier, according to data from the British Retail Consortium and the consultancy KPMG. Continue reading...
  
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• UK inflation holds back demand as consumers spend more on less

  09-05-2023 01:00 via ft.com
  Many households cut purchases even as spending on entertainment rises
  
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