All articles by Luke Tugby – Page 27
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NewsAmazon first-quarter profits dip as it warns of $4bn coronavirus costs
Amazon has reported in a decline in first-quarter profits and warned that earnings in its second quarter will be completely wiped out by costs related to coronavirus.
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NewsCoronavirus to wipe £1.7trn off global retail sales
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.
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NewsSainsbury’s boss Coupe takes parting shot at Amazon on business rates
Sainsbury’s boss Mike Coupe has defended the grocer’s decision to accept business rates relief from the government – and said it will still face a higher bill than Amazon this year.
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NewsBRC names Tony DeNunzio as chair to succeed Richard Pennycook
The British Retail Consortium has appointed former Asda boss Tony DeNunzio as its new chair to succeed Richard Pennycook.
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NewsOcado opens first Sobeys warehouse as online grocery demand soars
Ocado has opened its first automated warehouse in North America as the online grocer-cum-technology provider presses ahead with progress on its overseas partnerships.
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NewsMarks & Spencer secures fresh funding and warns of ‘subdued’ trading
Marks & Spencer has secured fresh funding as it moves to shore up its balance sheet during the coronavirus crisis.
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NewsRetailers cancel £2.5bn of orders from Bangladesh amid coronavirus crisis
British retailers have cancelled an estimated £2.5bn in clothing orders from Bangladeshi suppliers, pushing the country’s garment industry towards a “major crisis”.
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NewsCoronavirus: Consumer confidence stabilises after early-April crash
Consumer confidence has stabilised after crashing at the start of the coronavirus crisis, although experts have refused to rule out a further slump to record lows.
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NewsCo-op warns of £200m coronavirus costs as profits rise
The Co-op has warned that it faces additional costs of more than £200m associated with the coronavirus crisis as it ramps up efforts to “feed the nation”.
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NewsUnilever boss: Coronavirus to spark ‘inflection point’ for ecommerce
The boss of consumer goods giant Unilever has warned that the coronavirus crisis will spark an “inflection point” for online food shopping.
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NewsMike Ashley’s Frasers Group settles €674m Belgian tax dispute
Mike Ashley’s Frasers Group has settled its long-running €674m (£588m) tax dispute with Belgian authorities.
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NewsAmazon donates £250,000 to help bookstores through coronavirus
Amazon has donated £250,000 to a fund set up to help its physical bookshop rivals that have been hammered by coronavirus.
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NewsLaura Ashley brand rescued by Gordon Brothers
Restructuring and investment firm Gordon Brothers has bought the Laura Ashley brand and its intellectual property from administrators PwC.
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OpinionOpinion: Amazon-Deliveroo CMA verdict must spark more collaboration
It was a judgement that should have been reached a long time ago, but one that, given its timing, could carry far greater significance for retail.
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OpinionOpinion: Forget dividends and rates – grocers are heroes, not villains
How quickly judgements can be questioned in the court of public opinion.
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NewsJohn Lewis launches 'virtual experiences' during coronavirus lockdown
John Lewis has launched a series of “virtual services and experiences” to take some of its in-store propositions into people’s homes during coronavirus lockdown.
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NewsAmazon to hire 75,000 staff and stop accepting new online food customers
Amazon is to take on another 75,000 new staff and stop accepting orders from new online grocery customers in the US as it grapples with surging demand.
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NewsGovernment plots fresh overhaul of emergency coronavirus loans
The government is preparing a fresh overhaul of the emergency loan packages on offer for larger businesses battling to survive the coronavirus pandemic.
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NewsNext resumes selling online following ‘extensive’ safety measures
Next has resumed selling online this morning less than three weeks after temporarily closing its ecommerce, warehouse and distribution operations amid the coronavirus crisis.
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NewsCo-op boss Murrells takes pay cut to launch Members’ Coronavirus Fund
Co-op boss Steve Murrells has taken a 20% pay cut over the next three months to help the business kick-start its Members’ Coronavirus Fund.