Retailers stick with VAT change
Retailers have abandoned their campaign to get the VAT rise postponed after the Treasury said the chancellor, Alistair Darling, was committed to the 1 January switchback to 17.5%.
Tesco to grow convenience outlets
Tesco has said it hopes to double the number of convenience stores it operates to 2,000 in a move that will threaten independent retailers.
Poundland owner to bid for Matalan
Advent International, the owner of Poundland, is thought to be launching a £1.5bn bid for Matalan, spearheaded by Richard Baker, the former boss of Boots.
From Sunday Times
M&S ads boost Waitrose sales.
Marks and Spencer’s recent advertising which referenced Waitrose has backfired as the supermarket says its sales have seen the biggest weekly boost since 2006.
WH Smiths sales fall
Sales at high-street branches of the UK fell 4% like-for-like but the company says its financial performance is in line with management expectations.
Tesco to talk about banking
Tesco, will update investors and analysts on its retailing services business next week and is expected to reiterate the prospects from its push into banking. Tesco had said it would open 30 branches of “the people’s bank” this year, but ahs so far opened only six.
H&M prepares for crowds
Hennes & Mauritz installed crush barriers in anticipation of hordes of fashion hungry shoppers embarking on stores as it launched its collection in collaboration with Jimmy Choo this weekend,
Promotions hit record high
Promotions are at a record high as 35% of sales by value going through supermarket checkouts are on promotion, compared to 26% last year according to Nielsen.
From The Financial Times
Ex Woolworths bosses speak out
Richard North and Steve Johnson, the former chairman and the chief executive of Woolworths, have slammed accountancy firm Deloitte for the role it played in the chain’s collapse. They have broken their silence on the demise of the chain and say Deloitte’s dual role as adviser to Woolworths’ banking syndicate and administrator to the company was a potential conflict of interest.
From Sunday Telegraph
Tesco reaches out to drinks producers
Mark Suddaby, Tesco’s spirits category manager, has asked firms including Diageo, Bacardi, Pernod Ricard and First Drinks, which distributes Remy Martin and Cointreau, to present their suggestions for the the ideal ‘World Cup Cocktail’ to boost sales of spirits and liqueurs as shoppers opt to drink at home rather than in pubs.
From The Mail on Sunday
Pop-up stores all the rage
Marmite, HMV and Harvey Nichols are among the retailers and brands opening pop-up stores to cash in on festive spending without a huge investment in new stores as Christmas approaches.
Bids for Threshers chain pour in
Bakery chain Greggs and private equity firms have expressed interest in failed off-licence group First Quench, says administrator KPMG .
M&S repeats Penny Bazaar
M&S launched its second Penny Bazaar on 13 November, selling Christmas socks, card games, children’s puzzles, handkerchiefs, money boxes, tea towels, mugs, notebooks, ties, knickers, key rings, chocolates and Christmas Yule logs, as part of its 125-years celebration.
From The Guardian