MIDWEEK CATCH-UP

The biggest retail news stories of the week... so far

Thank you for subscribing to Retail Gazette View this email in your browser 01/07/20 THE MIDWEEK CATCH-UP John Lewis Partnership boss warns on job cuts & store closures John Lewis Partnership is poised to cut jobs, axe the annual bonus, close one of its London headquarters and permanently shutter some stores in response to the (...) READ MORE Arcadia scraps 500 head office jobs to offset Covid-19 costs Arcadia has reportedly confirmed plans to scrap 500 head office jobs in an effort to reduce costs following the impact of the Covid-19 pandemic. The fashion group (..) READ MORE 600 jobs lost as TM Lewin permanently shuts all 66 stores TM Lewin has reportedly said it will permanently shut its entire store estate as it struggles to pay rent and other costs for its stores, which have remained closed (...) READ MORE Harrods to cut 700 jobs Harrods is poised to make almost 700 staff members redundant after the luxury department store conceded it has struggled because of the coronavirus pandemic. In an email circulated to Harrods staff yesterday (...) READ MORE 240 job losses and 50 store closures as Harveys collapses Harveys furniture chain has reportedly collapsed into administration with the immediate loss of 240 jobs, with more than 1300 others at risk. The owner of Harveys (...) READ MORE Mike Ashley's Frasers Group stake in Hugo Boss doubles to 10.1% Mike Ashley's Frasers Group has nearly doubled its shareholding interest in Hugo Boss, less than a month after buying an initial stake in the upmarket (...) READ MORE Canadian pension fund pushes for Trafford Centre sale following Intu's collapse The Canadian pension fund that dropped a bombshell in Intu's rescue talks which led to its administration is (...) READ MORE New Look threatens landlords with pre-pack administration New Look has reportedly handed its landlords an ultimatum over its store estate as it seeks turnover-based rents. The fashion retailer has hired  (...) READ MORE Next & M&S among parties interested in acquiring Victoria's Secret UK Next and Marks & Spencer have reportedly expressed interest in taking on the UK operations of Victoria's Secret, which fell into administration earlier this  (...) READ MORE Sainsbury's quarterly sales jumps 8.5% as lockdown doubles online revenue Sainsbury's has posted bumper trading for the first quarter of its financial year as online sales more than doubled thanks to the coronavirus lockdown. The (..) READ MORE Coronavirus pushes H&M into the red in first half H&M swung into a deeper loss than what analysts expected in its March-May quarter due to the coronavirus pandemic, although sales are (...) READ MORE B&M on "steady recovery" as it smashes £1bn in revenue B&M has posted a "strong" first quarter, with its UK business trading ahead of expectations. In the period from March 29 to June 27, the discount retailer (...) READ MORE M&Co seeks new backers after £50m revenue shortfall M&Co is reportedly seeking new backers after experiencing a £50 million revenue shortfall as a result of the coronavirus pandemic. The value fashion (...) READ MORE Hammerson & British Land hopeful for retail rebound despite rent issues British Land and Hammerson have sought to assure over an improving picture in the hard-hit retail sector, but revealed ongoing difficulties for retailers to meet rent (..) READ MORE 57 more Monsoon Accessorize stores could be saved Monsoon Accessorize has reportedly revealed that 57 more stores than expected could be retained after a larger number of landlords than predicted have (...) READ MORE Boohoo under fire for £150m bonus scheme Boohoo has reportedly been criticised by investors for the operation and timing of its new bonus scheme, which could mean its executives may receive a £150m  (...) READ MORE The Hut Group mulls stock market float worth £4bn-£5bn The Hut Group is reportedly courting global investors about a share sale that could lead to a stock market flotation worth between £4 billion to £5 billion. (...) READ MORE Non-essential shops in Leicester close again after local lockdown imposed A local lockdown has been imposed on Leicester after a spike in coronavirus cases in the city, forcing non-essential shops in the area to close just two weeks (..) READ MORE Shop prices in June fall for the 13th month in a row Shop prices in June fell for a 13th consecutive month as retailers continued to discount items in a bid to shift excess stock amid the coronavirus pandemic. (...) READ MORE Footfall in second week after lockdown exit grows 7.7% The reopening of non-essential retailers for the second week after exiting lockdown has led to another soft rebound in footfall, new data shows. According to (..) READ MORE How can retailers prevent crime against shopworkers? The BRC recently found that retailers bear a combined £1bn cost from crime, including £770m lost to theft. With retailers scurrying to alleviate the stress from  (...) READ MORE Copyright © 2020 Retail Gazette, All rights reserved. You are receiving this e-mail because you opted in at our website or our partner's. If you feel you have received this in error, please unsubscribe below. Our mailing address is: Retail Gazette 4 Cavendish Square London, W1G 0PG United Kingdom Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list