Retail news

• John Lewis boss eyes buy now, pay later offer

  13-08-2023 19:23 via retailgazette.co.uk
  
  New John Lewis Partnership chief executive Nish Kankiwala is eyeing developing a Klarna-style buy-now-pay-later (BNPL) offer for customers.
  He told The Mail on Sunday: “I think we will develop a buy-now-pay-later product. Especially in the younger generation, people expect it.”
  John Lewis currently offers BNPL on a selection of higher-priced goods. It has not partnered with Klarna or any of its rivals like many other retailers to make the payment option widely available across its pr
  
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• Amazon delays rule change for some UK sellers who warned they could go bust

  13-08-2023 19:08
  
  One marketplace firm says Amazon is only ‘delaying the pain’ of having to wait a week for their proceedsAmazon has partially relented following a row about new rules affecting thousands of marketplace sellers and is now releasing some of their sale proceeds.The online retailer had told many of its sellers in the UK and continental Europe that it would now hold on to sale proceeds for more than a week, rather than crediting their accounts immediately a sale was made. The move –
  
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• Wilko launches huge ‘administration sale’ in stores

  13-08-2023 18:11 via retailgazette.co.uk
  
  Wilko has launched an administration sale with discounts on thousands of products in store.
  Signs advertising the ‘Wilko administration sale’ have been emblazoned across store fronts with administrator PwC confirming to The Sun that it is taking place across all shops.
  The signs promise ‘1000s of reductions throughout the store’.And so it beginspic.twitter.com/05ZzXUsdBd
  — 夕イウ才 (@TeeXCI) August 12, 2023Wilko plunged into administration la
  
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• Wilko launches huge ‘administration sale’ in all stores

  13-08-2023 18:11 via retailgazette.co.uk
  
  Wilko has launched an administration sale with discounts on thousands of products in store.
  Signs advertising the ‘Wilko administration sale’ have been emblazoned across store fronts with administrator PwC confirming it is taking place across all shops.
  The signs promise ‘1000s of reductions throughout the store’.And so it beginspic.twitter.com/05ZzXUsdBd
  — 夕イウ才 (@TeeXCI) August 12, 2023Wilko plunged into administration last week, putting
  
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• Wilko owners took £77m out of business in last decade

  13-08-2023 12:07 via retailgazette.co.uk
  
  Wilko paid out £77m to its owners and former shareholders in the decade before its collapse.
  Even last year, when Wilko losses spiralled to £35.9m, a £3m dividend was paid out.
  Meanwhile, £3.2m was taken out in 2018 when the discount chain slid to a £65 million loss, according to This is Money.
  The biggest payout was made in 2015 when £63m was paid out when one side of the Wilkinson family sold their shares to the other.
  Karin Swann, a granddaughter of founder
  
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• Tesco announces major change to cut bills in Express store

  13-08-2023 02:00 via theretailbulletin.com
  
  Tesco has announced a major overhaul to the range of products it stocks in Express stores in a move to reinforce its position as the UK’s... View Article
  
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