Dave Lewis, the chief executive of Tesco has been handed a £6.42 million pay package, the highest annual pay packet for an executive, since the departure of Sir Terry Leahy in 2011. Lewis received a £2.4 million annual cash bonus and another £2.4 million long-term share bonus on top of £1.6 million in basic salary... Continue Reading →

Updated : May 11, 2020 11:28 PM IST Footwear retailer Aldo last week filed for bankruptcy protection in its home country Canada.It said the coronavirus pandemic had put “too much pressure” on its business and cash flows. Footwear retail chain Aldo last week filed for bankruptcy protection in its home country Canada, saying the coronavirus pandemic... Continue Reading →

Both J.C. Penney and Sephora have now patched up their differences and both have reaffirmed their partnership moving forwards. A conflict of interest was initiated after Sephora threatened to end its current contract with Penney early and close its in-store shops in Penney stores. Sephora is Penney’s only beauty partner and boasts approximately six hundred... Continue Reading →

By Jessica Paige SHARE British retailer Matalan has asked existing lenders Barclays and Lloyds to inject £50m of government-backed funding to maintain liquidity. The banks agreed to lend money as part of the coronavirus business interruption loan scheme. This loan came with the condition that the retailer repay immediately were it to default. In April, Matalan released... Continue Reading →

Anne Pitcher, the Selfridges managing director who has spent a lifetime working in shops, replies bluntly when asked how it felt to turn the lights out and pull up the shutters on Oxford Street's most iconic store. 'Awful,' she says, describing herself as 'never happier than when I'm on the shop floor'. 'The day we... Continue Reading →

J.C. Penney is in talks to secure financing for bankruptcy as the coronavirus pandemic has devastated the American retail industry, people familiar with the matter tell CNBC. The Plano, Texas-based retailer skipped a $12 million interest payment on April 15, starting the clock on a 30-day grace period that could force it to file for... Continue Reading →

This Apple Store in Anchorage Alaska will be one of the first to open its doors. Photo: Apple BY ED HARDY • 1:01 PM, MAY 8, 2020 The long wait is almost over. Apple said Friday it will open the doors of a few of its U.S. retail locations next week. The majority of Apple... Continue Reading →

Next's new beauty concept halls will be located in Birmingham, Reading, Leicester, Glasgow and Croydon. Next has signed new flexible leases to take over the existing beauty halls in Debenhams stores that are set to permanently close down in five Hammerson shopping centres. The fashion retailer said these will be run as standalone Next premium... Continue Reading →

The Canadian athletic apparel and accessories maker has now opened a 5,590 sq ft retail space, in Harbour City. Customers are encouraged to discover the brand’s extensive collection of workout apparel, ranging from yoga to running, and more, for both women and men.  The store opening marks Lululemon’s seventh retail location – and largest –... Continue Reading →

SEATTLE (AP) — Nordstrom plans to permanently close 16 of its 116 full-line stores as it adjusts to the retail environment during the coronavirus outbreak. The Seattle Times reports that the company didn’t identify which stores would be closed. In a statement, CEO Erik Nordtsrom said COVID-19 was causing the Seattle-based company to speed up... Continue Reading →

SINGAPORE: Singapore's retail sales in March fell at the steepest pace in 22 years as consumption across nearly all categories plunged due to the COVID-19 outbreak, but a few sectors were unscathed, most notably supermarkets and hypermarkets.  Retail sales fell 13.3 per cent on a year-on-year basis, data released by the Department of Statistics (SingStat) showed... Continue Reading →

The potential transaction could be part of a bankruptcy filing Brooks Brothers is reportedly seeking a buyer after having extended a sale process which was initially set in motion at the end of last year. The US fashion retailer, which has over 250 stores in the world with many in the UK, has felt the... Continue Reading →

U.K. mobile operator O2 could be set to merge with Virgin Media to create one of the country’s largest mobile, broadband and TV companies. Spanish firm Telefónica, which owns O2, on Monday confirmed it was in talks with Virgin owner Liberty Global about a potential merger of the two companies. “In relation to the news... Continue Reading →

Preppy retailer J.Crew filed for Chapter 11 bankruptcy protection Monday morning, according to multiple reports, becoming the first major retailer to do so amid the coronavirus pandemic, which forced businesses to shut their doors out of safety—and all but eliminated brick-and-mortar sales. The company said it reached a deal to restructure $1.65 million of debt... Continue Reading →

Selfridges was one of the first UK retailers to temporarily close its stores amid the coronavirus crisis. Selfridges has reopened its food hall at its London flagship, but the rest of the store and its other sites in Manchester and Birmingham remain closed as the lockdown continues. As food retailers are considered essential and can... Continue Reading →

TM Lewin, founded in 1989 on London's Jermyn Street, trades from 66 stores in the UK and five in Australia. Charles Tyrwhitt is reporting mulling a takeover of rival retailer TM Lewin after its owners put the business up for sale last month. According to Sky News, Charles Tyrwhitt is among a number of parties which... Continue Reading →

The company now believes it can navigate the Covid-19 crisis without drawing on government assistance Victoria Beckham has made a U-turn on her decision to furlough staff at her fashion label during the coronavirus pandemic. The singer turned fashion designer, 46, had previously placed 30 members of staff on the government furlough scheme, meaning they... Continue Reading →

Oasis stores won't reopen after the coronavirus lockdown is liftedCredit: Alamy FASHION retailers Oasis and Warehouse stores won't reopen after the coronavirus lockdown is lifted putting more than 1,800 employees out of work.  Administrators were unable to rescue the company behind the brands and blames the "extraordinary challenges" the pandemic has put on the retail... Continue Reading →

A day after state-owned regional airline SA Express announced it had been placed in provisional liquidation, the country’s largest non-food retailer, Edcon, announced it had applied for voluntary business rescue. Landlords, lenders and the PIC are the biggest losers.  This will have a material impact on the firm’s 14,000 permanent employees, 25,000 temporary staff, 750 suppliers... Continue Reading →

Sainsbury's has warned that the impact of the coronavirus pandemic on current year profit could be over £500 million (€572 million) and said it would defer any dividend payment decisions until later this year. However the group, No. 2 to market leader Tesco, said under its "base case" scenario the hit to profit would be broadly offset... Continue Reading →

The John Lewis Partnership has appointed James Bailey as its new executive director, Waitrose. He joins from Sainsbury’s where he was buying director for Grocery and will start in the Partnership today. Recruitment is also underway for the role of executive director, John Lewis and an announcement will be made in due course. The new... Continue Reading →

A “faster and steeper” collapse in retail sales has prompted Next to cancel or delay almost £1 billion worth of stock in addition to scrapping its dividend and share buyback scheme to save costs. The bellwether retailer warned that it could lose £1.65 billion in sales, about 40 per cent of its usual business, in... Continue Reading →

Supermarkets sales continued to be boosted by the effect of the coronavirus lockdown in April, though the rate of growth has slowed from the previous month. Sales in April were £524mln higher than in the same month last year, data from Kantar showed on Tuesday, with shop sales in the 12 weeks to April 19 up 9.1% year... Continue Reading →

Adidas (ETR: ADS) said on Monday that its profit in the first quarter came out 93% lower. The German sportswear manufacturer also reported a 19% decline in its quarterly sales as the Coronavirus pandemic pushed retailers into temporarily shutting down stores in Q1. In the second quarter, the company added, the COVID-19 driven hit to... Continue Reading →

All 50 John Lewis stores have been closed since March 23 John Lewis Partnership is reportedly considering an outside investor to help to finance and launch a joint venture that would reduce its reliance on retailing. It is also mulling the possibility of never reopening some of its less profitable department stores once the coronavirus... Continue Reading →

The discount retailer has hired KPMG advisers to review options and strengthen its balance sheet Poundstretcher has reportedly drafted in KPMG advisers to begin a review of the business’ finances amid the coronavirus pandemic. The discount retailer has hired advisers to review options and strengthen its balance sheet, Sky News reported. In its latest accounts, Poundstretcher warned... Continue Reading →

The locations of the affected branches are Southampton, Swindon, Kidderminster and Borehamwood. These closures will mean 239 jobs are lost. Just a week ago the chain confirmed it wouldn't reopen seven UK stores after lockdown. These seven are located in Truro, Stratford-Upon-Avon, Salisbury, Westfield in west London, Warrington, Leamington Spa and South Shields.null The latest closure... Continue Reading →

According to official data, UK retail sales saw their biggest fall on record in March due to the Coronavirus lockdown. Whilst food sales have surged as consumers stockpiled and were forced to stay home, overall UK retail sales dropped by 5.1 percent in March according to the Office for National Statistics (ONS).  Hardest hit was... Continue Reading →

Wishing all our readers a blessed Ramadan Kareem

Dis-Chem Pharmacies Limited, a South African wholesale distributor and retailer of pharmaceutical products, has on Thursday been charged for inflating prices during the COVID-19 national lockdown. The South African Competition Commission has found the company guilty of excessive pricing on essential hygienic goods to the detriment of customers and consumers in contravention of the Competition Act. According... Continue Reading →

The move comes after trade bodies wrote a letter to Chancellor Rishi Sunak seeking rental support. LONDON, United Kingdom — Britain's government will void legal attempts to evict or force out small retailers and businesses due to non-payment of rent during the coronavirus crises, it said on Thursday. The country's commercial landlords are experiencing a significant... Continue Reading →

Gordon Brothers was considering retaining a streamlined portfolio of Laura Ashley retail stores within the UK and Ireland. Laura Ashley has been rescued from administration by global advisory, restructuring and investment firm Gordon Brothers. Gordon Brothers acquired Laura Ashley’s global brand, its archives and related intellectual property from administration. As new owners of the brand,... Continue Reading →

Coronavirus: The Range named "worst of British" business for staying open The Range has faced criticism for remaining open amid the coronavirus pandemic. The retailer, which has 180 stores across the country, sells home, leisure and garden items, was “classified as an essential retailer” because it sells food, pet food and toilet rolls. One council... Continue Reading →

Commercial property landlords are starting to tighten the screw on retailers including Boots and Matalan for failing to pay overdue rent, in some cases starting legal action to reclaim money they are owed. Boots, which has continued to trade throughout the lockdown, has been criticised with other businesses, including Travelodge, for refusing to pay second quarter rent,... Continue Reading →

More than 900 jobs are to be axed with immediate effect at retro retail label Cath Kidston after the company said it was permanently closing all 60 of its UK stores under a rescue deal with its Hong Kong-based owner, Baring Private Equity Asia. The vintage-inspired fashion label will continue trading online and via its wholesale and... Continue Reading →

John Lewis and Waitrose have furloughed 14,000 staff as part of efforts to cut costs during the COVID-19 pandemic. John Lewis Partnership, which owns the department store and supermarket Waitrose, said on Tuesday 21 April it was taking actions to preserve cash in the business to help the partnership weather the storm. The group said... Continue Reading →

https://skinhq.co.uk/nhs-heroes/ SkinHQ have pledged a free facial to any NHS or Emergency service members impacted by dry or irritated skin caused by the consistent use of face masks through the Coronavirus. This is the least you deserve but of course it is a start. The whole SkinHQ team are so grateful to every single one... Continue Reading →

https://covid19stats.live/ Brilliant page from a young entrepreneur

http://www.huffingtonpost.co.uk/entry/marks-and-spencer-to-be-demoted-from-ftse-100_uk_5d6e8ecfe4b09bbc9ef55c5d

mashable.com/2018/03/09/claires-store-bankruptcy/

http://www.visualcapitalist.com/the-worlds-100-most-valuable-brands-in-2019/

amp.arabianbusiness.com/amp/article_listing/aben/retail/419671-dubais-al-futtaim-says-to-expand-major-cairo-shopping-mall

Dubai unveils £2billion mall the size of 100 football pitches & packed with next-gen tech DUBAI is set to build a £2billion shopping centre the size of 100 football pictures and crammed with the latest technology as well as a plethora of restaurants and entertainment. Dubai unveils £2billion shopping centre the size of 100 football... Continue Reading →

Department store group Debenhams is planning to cut 320 store management jobs as it tries to drive down costs. The retailer said last month it was stepping up cost-cutting plans after it issued a profit warning following disappointing trading over Christmas. Many traditional retailers are struggling to cope the challenge of the shift towards shopping... Continue Reading →