Retail news

• Sharon White still needs to be clearer about John Lewis’s mutual status | Nils Pratley

  11-05-2023 18:29
  
  How can there be ‘no question’ of demutualisation if the board ‘could consider’ bringing in an outside investor?Dame Sharon White can reflect that she won the vote that counted. The one she lost – on the John Lewis Partnership’s performance last year – sounds a bit like a relegated football club’s fans wishing the results had been different. Given the £234m pre-tax loss and no staff bonus, a thumbs-down for the business’s performance ca
  
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• Adidas to sell remaining Yeezy stock and donate proceeds to charity

  11-05-2023 15:16 via retailgazette.co.uk
  
  // Adidas will try to sell part of the Yeezy stock and donate proceeds to international organisations
  // The sportswear giant stopped selling Yeezy shoes in October after it cut ties with rapper Ye following his several antisemitic remarksAdidas will sell some of the merchandise from its failed Yeezy partnership with Kanye West and donate the proceeds to charity.
  Chief executive Björn Gulden told shareholders on Thursday the sportswear giant is currently sitting on more than €1bn
  
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• Planet Organic owed £12.5m to creditors when entering administration

  11-05-2023 14:26 via retailgazette.co.uk
  
  // The organic grocer owed over £12.5m to creditors
  // Over 400 unsecured creditors will not receive the full amount that is owedPlanet Organic owed over £12.5 million to its creditors ahead of the rescue deal that saved 10 of 14 supermarket stores.
  In April Bioren Ltd, whose shareholder’s include the organic grocer’s founders Renee and Brian Elliot, paid £810k to close the deal.
  However, according to a new report by administrator Interpath Advisory, over 400 unsecu
  
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• M&Co unsecured creditors to receive ‘less than a penny in the pound’

  11-05-2023 13:37 via retailgazette.co.uk
  
  // M&Co unsecured creditors and suppliers to receive “less than a penny in the pound” of the £40.6m owed
  // Administrators Teneo said due to insufficient funds, any repayments are “likely to be very low”M&Co’s unsecured creditors and suppliers are set to receive less than a penny in the pound of the £40.6m that are owed to them following the retailer’s collapse in December.
  Administrators Teneo said in its report that it was unlikely t
  
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• BRC calls for labelling clarity on Windsor Framework

  11-05-2023 13:14 via retailgazette.co.uk
  
  // The British Retail Consortium (BRC) urges the government to provide clarity over labelling issues from the Windsor Framework
  // Food and sustainability director Andrew Opie told a House of Lords committee he expects labelling guidance to be published in the next 10 daysBRC has called on the government to provide “urgent clarity” for supermarkets over labelling issues from the Windsor Framework ahead of the October deadline.
  The framework, agreed by the EU and UK in February, aims
  
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• Adidas to sell Yeezy shoes and donate some of the proceeds

  11-05-2023 11:48
  German sports brand seeks to mitigate damage from ill-fated Kanye West partnership
  
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• Adidas to sell unsold Yeezy shoes and donate proceeds to charity

  11-05-2023 11:48
  Sports brand is sitting on unsold stock with a market value of more than €1bn after terminating Kanye West partnership
  
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• Watch: John Lewis’ Sharon White defends investment strategy

  11-05-2023 09:44 via retailgazette.co.uk
  
  // John Lewis chair Sharon White reassures council members of her long-term plans for the Partnership
  // She said: “I want to be absolutely categorical, the John Lewis Partnership will always be an employee-owned business”John Lewis chair Sharon White sought to reassure doubts about her long-term plans for the Partnership ahead of a vote of confidence on Wednesday.
  In her opening remarks to the council, White addressed concerns that she was looking at seeking external investment
  
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• Sainsbury’s introduces fully electric delivery fleet for south London store

  11-05-2023 09:35 via retailgazette.co.uk
  
  // Sainsbury’s introduces fully electric delivery fleet for its Nine Elms London superstore
  // The supermarket chain has committed to a fully electric fleet for all its stores by 2035Sainsbury’s has converted the delivery fleet of its Nine Elms London superstore to electric vehicles as it looks to reduce its operations emissions.
  The new fleet will make on average over 2000 deliveries each week, saving almost 57 tonnes of carbon annually.
  The 12-van fleet’s vehicle and fri
  
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• JD Sports names new CFO

  11-05-2023 09:32 via retailgazette.co.uk
  
  // JD Sports names BGL Group’s Dominic Platt as its new chief financial officer
  // Platt’s will replace Neil Greenhalgh, who is stepping down after four yearsJD Sports has confirmed the appointment of BGL Group chief financial officer Dominic Platt as its new finance boss following reports earlier this week.
  Platt will replace Neil Greenhalgh, who is stepping down from his role after four years. Greenhalgh’s decision came after JD Sports reported a first-half profits drop
  
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• John Lewis boss bruised as she survives crunch vote

  11-05-2023 08:45 via retailgazette.co.uk
  
  // John Lewis chair Sharon White narrowly survives confidence vote
  // The council said it did not have confidence in the Partnership’s performance but backed her future strategyJohn Lewis chair Sharon White has suffered a major blow after narrowly winning support from staff in a confidence vote on Wednesday.
  The council, made up of more than 60 partners, said it did not have confidence in the Partnership’s performance under White’s leadership but backed her future strategy
  
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• Can Asos cost-cut its way back to growth?

  11-05-2023 08:31 via retailgazette.co.uk
  
  Asos half-year losses may have widened to £290.9m in its first half, however chief executive José Antonio Ramos Calamonte is confident his turnaround plan will see it return to profitability in the second half of the year.
  The fashion retailer is in the midst of a £300m cost-saving and profit optimisation programme – which the ex-Inditex exec terms ‘the Driving Change’ agenda – as it looks to overhaul its business model, which has so far seen job cuts,
  
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• Trust issues: We need to celebrate the retailers focusing on creating happier workplaces

  11-05-2023 02:00 via theretailbulletin.com
  
  Chris Brook-Carter, Chief Executive of the Retail Trust From the dedicated shop manager who saved the life of a regular customer after he found her collapsed... View Article
  
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• Tesco drops price of bread and butter

  11-05-2023 02:00 via theretailbulletin.com
  
  Tesco has dropped the price of bread and butter across its stores and online as part of its commitment to provide value for customers during the... View Article
  
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• Pretty Little Thing collaborates with Kappa on new retro inspired collection

  11-05-2023 02:00 via theretailbulletin.com
  
  Pretty Little Thing has teamed up with Italian sportswear brand Kappa on a new collection fronted by US rapper GloRilla. Featuring a colour palette of neutral... View Article
  
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• People Matter: Wickes raise £100k for The Brain Tumour Charity

  11-05-2023 02:00 via theretailbulletin.com
  
  Home improvement retailer Wickes have fundraised over £100k in less than seven days for their new charity partner The Brain Tumour Charity. Activities took place across... View Article
  
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• Lush launches circular recycling ‘Green Hub’

  11-05-2023 02:00 via theretailbulletin.com
  
  Ethical cosmetics retailer Lush, has invested £2.3 million in its new Green Hub in Poole, expanding and reinforcing its commitment to the circular economy. The Green... View Article
  
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• John Lewis chair Sharon White wins confidence vote

  11-05-2023 02:00 via theretailbulletin.com
  
  The John Lewis Partnership chair Dame Sharon White has maintained that the partnership will always remain employee owned, “no ifs or buts” as staff backed her... View Article
  
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• John Lewis chair Sharon White says partnership will always be owned by staff

  11-05-2023 02:00 via theretailbulletin.com
  
  The John Lewis Partnership chair Dame Sharon White has maintained that the partnership will always remain employee owned, “no ifs or buts” as staff backed her... View Article
  
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• JD Sports names new chief financial officer

  11-05-2023 02:00 via theretailbulletin.com
  
  JD Sports has appointed Dominic Platt as chief financial officer and a member of its board. Currently holding the same role at Compare the Market owner... View Article
  
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• Bath & Body Works appoints chief customer officer

  11-05-2023 02:00 via theretailbulletin.com
  
  Bath & Body Works has appointed Maurice Cooper to the newly created position of chief customer officer. Due to start his new role on 22 May,... View Article
  
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• Adidas to sell Yeezy stock and donate to charity

  11-05-2023 02:00 via theretailbulletin.com
  
  Adidas  is to sell some of the stock from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to charity. The... View Article
  
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• [ EVENT ] The UK’s premier invitation-only meeting for Senior Data Leaders in retail

  11-05-2023 02:00 via theretailbulletin.com
  
  The CDO Retail Exchange, taking place on the 18-19 July at the Syon Park Hotel in London, is an intimate, invite-only event for senior data leaders... View Article
  
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• 4 ways Pull & Bear is using digital to boost sales

  11-05-2023 00:23 via retailgazette.co.uk
  
  With prices rising and wallets shrinking, the post-pandemic trading environment has been difficult to navigate for some retailers, particularly in non-essential areas like fashion.
  Despite this, Inditex-owned chain Pull & Bear sales soared 15% to €2.15bn in its last financial year.
  The retailer’s chief digital and marketing officer Ana Belen Garcia Luque tells ShopTalk Europe how the fashion retailer‘s focus on integrating its digital and physical operations has been key to
  
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