Retail news

• ‘I’m broken-hearted’: customers mourn the end of Wilko

  10-08-2023 19:45
  
  As the store enters administration, shoppers talk about its convenience, bargains, range of goods – and supply issuesWilko calls in administrators after talks failEmployees – how will you be affected?The mood in the Wilko in Lewisham Shopping Centre is sombre on Thursday afternoon as dozens of customers ponder whether this visit might be their last now that the budget retailer has officially entered administration.The south-east London branch is one of about 400 across the country fa
  
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• Deliveroo to return extra £250mn to shareholders

  10-08-2023 17:49
  London-based food delivery group gains confidence after losses narrow
  
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• Wilko employees: how will you be affected by the retailer entering administration?

  10-08-2023 17:04
  
  We want to hear from workers at Wilko following the news that dozens of outlets are expected to shutThe troubled budget retailer Wilko is going into administration, putting more than 12,000 jobs at risk after it failed to agree a rescue deal.The family-owned household and garden products retailer, which has about 400 stores, is expected to have to close dozens of outlets, leaving big gaps on high streets after weeks of talks with interested parties. Continue reading...
  
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• Owners of ‘LGBT’ Swatch watches could be jailed for three years in Malaysia

  10-08-2023 16:23
  
  Sellers of timepieces with rainbow colours face same punishment as country says they could ‘harm morals’Owners or sellers of rainbow-coloured timepieces made by the Swiss watchmaker Swatch face three years in prison in Malaysia, the interior ministry has said, as the Muslim-majority country rails against LGBTQ+ symbols it says could “harm morals”.Homosexuality is outlawed in Malaysia and LGBTQ+ people face discrimination. Continue reading...
  
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• Kate Spade owner Tapestry agrees $8.5bn deal for Jimmy Choo parent Capri

  10-08-2023 13:45
  NY-based group says tie-up will bring together six well-known brands with combined revenues of more than $12bn
  
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• Coach owner Tapestry agrees $8.5bn deal for Versace parent Capri

  10-08-2023 13:45
  Tie-up is one of biggest attempts to create a US rival to Europe’s LVMH and Kering
  
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• Wilko shoppers: tell us what you like most about the store

  10-08-2023 13:31
  
  We’d like to hear from shoppers what they will miss after the news that the retailer is expected to close dozens of outletsThe troubled budget retailer Wilko is calling in administrators, putting more than 12,000 jobs at risk after it failed to agree a rescue deal.The chain is the largest retailer to collapse into administration since the convenience-store business McColl’s, which employed about 16,000 people, just over a year ago. McColl’s was rescued by the supermarket Morris
  
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• UK discount retailer Wilko collapses into administration

  10-08-2023 11:40
  Failure of rescue talks with prospective suitors puts 12,000 jobs at risk
  
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• Discount retailer Wilko collapses into administration

  10-08-2023 11:40
  Failure of rescue talks with prospective suitors puts 12,00 jobs at risk
  
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• Wilko collapses into administration after rescue talks fail

  10-08-2023 11:28
  
  Dozens of stores expected to close after budget retailer fails to find new funding, putting 12,000 jobs at riskThe troubled budget retailer Wilko has called in administrators, putting more than 12,000 jobs at risk after it failed to agree a rescue deal.The family-owned household and garden products retailer, which has about 400 stores, is expected to have to close dozens of outlets, leaving big gaps on high streets after weeks of talks with potentially interested parties. Continue reading...
  
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• Wilko collapses into administration

  10-08-2023 11:25
  
  Wilko has formally collapsed into administration, appointing PwC to lead the process, as 12,000 jobs are put at risk.
  The retailer had been trying to broker a solvent rescue deal since it filed a notice of its intention to appoint an administrator last Thursday.
  The chain said it had “a significant level of interest, including indicative offers”, however it was unable to complete the deal within the necessary timeframe.
  “Given the cash position, we’ve been left with no ch
  
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• BREAKING: Wilko collapses into administration

  10-08-2023 11:25
  
  Wilko has formally collapsed into administration, appointing PwC to lead the process, as 12,000 jobs are put at risk.
  The retailer had been trying to broker a solvent rescue deal since it filed a notice of its intention to appoint an administrator last Thursday.
  It was in talks with private equity firms Laura Ashley-owner Gordon Brothers, Bensons for Beds-owner Alteri, and OpCapita, as well as a rival retailer, however, those discussions have stalled, leading it to formally appoint PwC.
  The
  
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• Wilko in administration: What went wrong?

  10-08-2023 11:24
  
  Wilko formally collapsed into administration today, putting 12,000 jobs at risk in a move that seemed sadly inevitable in recent months.
  Over the past year the business has struggled with a lack of cash and poor product availability, which had led to many shoppers ditching the retailer.
  In recent weeks, the retailer’s owners had been looking to sell a controlling stake as it raced to secure the chain’s future.
  Although there had been a “significant level of interest” acco
  
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• Marks Electricals sales surge as it makes a ‘fast start’ to its financial year

  10-08-2023 10:40
  
  Marks Electrical’s sales have surged as the retailer’s investment into customer services pays off.
  Revenue for the retailer rocketed 30.7% to £36.2m in the four months to 31 July, compared to £27.7m the year before.
  Marks Electricals said its market share in major domestic appliances and consumer electronics edged up slightly during its first quarter, despite the challenging backdrop.
  The retailer attributed its growth to its investment into next-day integrated installati
  
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• Coach parent Tapestry acquires competitor Capri Holdings for £6.7bn

  10-08-2023 10:39
  
  Coach parent Tapestry has acquired competitor Capri Holdings, formerly known as Michael Kors Holdings, for £6.7bn ($8.5bn) as it looks to compete with Europe’s luxury heavyweights.
  The deal will see Jimmy Choo, Michael Kors and Versace added to the US fashion giant’s portfolio, which includes Kate Spade and Stuart Weitzman.
  Capri shareholders will receive £44.40 ($57) per share in cash, valuing the firm at £6.7bn.
  Chief executive and chairman John Idol said: “
  
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• Lush launches Barbie-themed pop up in London

  10-08-2023 10:29
  
  Lush has unveiled a new pop-up at its Lush Studio in Soho, London, to celebrate its new Barbie collection.
  Open for six weeks, the space has been inspired by the doll’s iconic dreamhouse with a pink lounge, kitchen and shower.The retailer is also giving away free pink drinks to shoppers to promote its 11-piece collection designed with Barbie’s signature pink hue in partnership with Mattel.Subscribe to Retail Gazette for free
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• Watches of Switzerland UK sales hit by tourist tax

  10-08-2023 10:07
  
  Watches of Switzerland first quarter sales dipped as the tourist tax hit UK sales.
  UK and Europe sales fell 8% to £219m as CEO Brian Duffy told the Evening Standard that sales at showrooms in Heathrow and Gatwick were still only “40% to 50% of what it was”.
  Duffy told City Am that the end of VAT-free shopping for tourists was “the biggest single frustration” for the UK retail sector.
  “I was in Italy this weekend and the amount of American tourists that were sh
  
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• Wilko set to plunge into administration today

  10-08-2023 10:06
  
  Wilko looks likely to fall into administration today as hopes of a solvent rescue deal for the retailer fade.
  The chain is expected to appoint PwC as administrator today, according to Sky News.
  Wilko had been in talks with private equity firms Laura Ashley-owner Gordon Brothers, Bensons for Beds-owner Alteri and OpCapital as well as a rival retailer as it sought a rescue deal.
  However, talks have stalled and a source told the publication that an administration today Thursday was “inevitabl
  
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• M&S urges government to axe VAT on period underwear

  10-08-2023 10:05
  M&S has called on ministers to scrap VAT on period underwear after the tax on feminine hygiene products was axed two years ago.
  The retailer said that removing the 20% rate on the products would help make sanitary items more affordable as households battle with the ongoing cost-of-living crisis.
  Almost 50 signatories signed a letter addressed to the Treasury to abolish the tax.
  Period pants are similar to regular underwear but use a thicker absorbent material to help prevent leaks, making th
  
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• Majestic inks deal with Uber Eats as part of on-demand delivery drive

  10-08-2023 09:39
  
  Majestic has partnered with Uber Eats to accelerate its on-demand delivery service.
  Customers can now shop the retailer’s expansive range of wines through the delivery app, with orders set to arrive in as little as 20 minutes.
  The partnership has initially launched in eight stores – Birmingham, Brighton, Cambridge, Clapham, Esher, Notting Hill, St John’s Wood and Westbury-on-Trym – and will be rolled to a total of 177 stores by the end of October.
  As part of the deal, Maj
  
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• Redundancies loom at Farfetch amid company-wide restructure

  10-08-2023 09:17
  
  Farfetch is making redundancies across its London and New York teams amid a company-wide restructure.
  The luxury etailer has cut 10 jobs from its London-based marketing team alongside some of its New York-based tech team, Drapers reported.
  Some roles in the customer service and fashion styling team, as well as at product management have also been impacted.Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning The deadline for
  
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• THG rebrands MyProtein to bolster growth

  10-08-2023 08:58
  
  THG has rebranded MyProtein following pressure by investors to sell off the nutrition business.
  The group said the retailer’s new brand identity will help “set the tone for the future”, positioning it for better growth. 
  The “new chapter” includes a rebrand of the retailer’s logo, which has already been rolled out across its packaging and website in the UK and Ireland. Europe, the US and other regions globally will follow suit in September, with Australia
  
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• Wilko halts home deliveries in race for rescue bid

  10-08-2023 08:24
  
  Troubled retailer Wilko has suspended home deliveries on its website as it races to secure a rescue deal.
  The family-owned chain said the option was “temporarily unavailable” online but that products can still be ordered through click-and-collect.
  Wilko warned last week it was on the brink of collapse after filing a notice to appoint administrators, putting more than 12,000 jobs at risk.
  The value retailer and its adviser PwC now have until 17 August to strike a rescue deal.Subscribe
  
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• UK government urged to scrap 20% VAT on period pants

  10-08-2023 07:00
  
  Campaigners say absorbent alternative to tampons and sanitary towels should not be classed as garmentsMPs, retailers and charities have written to the government urging it to axe the 20% VAT on period pants, the absorbent underwear designed to be worn as an alternative to tampons and sanitary towels.Period pants are classed as garments but campaigners are asking Victoria Atkins, who as financial secretary to the Treasury is the minister responsible for VAT, to get them reclassified as period pro
  
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• Wilko enters administration

  10-08-2023 02:00 via theretailbulletin.com
  
  Wilko has entered administration after failing to secure a rescue deal to save its 400 shops across the UK. The move has put 12,000 jobs at... View Article
  
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• Watches of Switzerland Group announce accreditation as a Real Living Wage Employer

  10-08-2023 02:00 via theretailbulletin.com
  
  The Watches of Switzerland Group is delighted to announce that it has been accredited as a Real Living Wage Employer. The Real Living Wage commitment will... View Article
  
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• The Original Factory Shop to open 16 stores and create 160 jobs

  10-08-2023 02:00 via theretailbulletin.com
  
  The Original Factory Shop is planning to invest in at least 16 new store openings over the next three months in a move that will create... View Article
  
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• New report: ‘Still a way to go to close the gender pay gap in the retail sector’

  10-08-2023 02:00 via theretailbulletin.com
  
  Diversity in Retail (DiR) has released its Gender Pay Gap Report 2023 for the retail sector in partnership with PwC UK. The report indicates a positive... View Article
  
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• Music Magpie expands kiosk locations

  10-08-2023 02:00 via theretailbulletin.com
  
  Music Magpie is expanding its SMARTDrop Kiosk network with three new sites at the Manchester Arndale, Cribbs Causeway and Willow Brook shopping centres. The company said... View Article
  
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• Monsoon launch ‘Creative. Curious. Designed by Kids’

  10-08-2023 02:00 via theretailbulletin.com
  
  Monsoon Children has unveiled its AW23 collections, showcasing a bold new direction for the British brand’s casualwear. ‘Creative. Curious. Designed by Kids’ is the mission statement... View Article
  
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• Marks Electrical makes strong start to new financial year

  10-08-2023 02:00 via theretailbulletin.com
  
  Marks Electrical has reported strong trading in the first four months of its new financial year with revenue growth of 30.7% to £36.2 million. In a... View Article
  
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• Marks & Spencer urges Government to remove VAT from period pants

  10-08-2023 02:00 via theretailbulletin.com
  
  Marks & Spencer has called on the Government to axe the 20% VAT on period pants following the removal of the so-called Tampax Tax in 2021.... View Article
  
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• Majestic teams up with Uber Eats to accelerate on-demand delivery drive

  10-08-2023 02:00 via theretailbulletin.com
  
  Wine retailer Majestic has teamed up with Uber Eats as it looks to grow its on-demand delivery capability. The move means Majestic customers can now order... View Article
  
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• John Lewis Partnership accelerates technology transformation with £100m Google Cloud deal

  10-08-2023 02:00 via theretailbulletin.com
  
  The John Lewis Partnership (JLP) is accelerating its digital transformation by embarking on a strategic partnership with Google Cloud. Worth £100 million over the next five... View Article
  
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• J. Crew appoints new president of Madewell

  10-08-2023 02:00 via theretailbulletin.com
  
  J.Crew Group has appointed Adrienne Lazarus as president of its Madewell fashion brand. Due to join the business in September, she will oversee all brand functions... View Article
  
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• Improving CSAT to create happier customers

  10-08-2023 02:00 via theretailbulletin.com
  
  Customer satisfaction plays a huge role in the success of your retail business since you depend on your customers to create profit. Therefore, it’s crucial to... View Article
  
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• Experience is everything, particularly for employees

  10-08-2023 02:00 via theretailbulletin.com
  
  Austin Cooke, COO of Poundland and Jon Kelly, MD of Meet & Potato explain why retailers need to focus as much on employee experience as they... View Article
  
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• TikTok takes on Shopee and Tokopedia in Asean ecommerce race

  10-08-2023 00:00
  Buyers and sellers flock to shopping feature while authorities fret
  
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