Philip Day makes Jack Wills takeover bid
Philip Day has made an initial bid for struggling British retailer Jack Wills. The clothing brand’s private equity owner BlueGem started a search to find a new owner in early July, with Sports Direct, Crew Clothing and Ben Sherman owner Marquee Brands also understood to be assessing offers.
Visa acquires Payworks for omnichannel payments
Visa has acquired German point of sale (PoS) firm Payworks in a deal that will enable Visa to offer cloud-based in-store and online payments processing. Visa said it would integrate Payworks’ PoS payment gateway software with its CyberSource digital payment management platform to create a fully integrated payment acceptance solution for merchants and acquirers.
Debenhams ‘set to ask for £50m extra funding’
Debenhams is reportedly on the verge of asking lenders for additional financial help tide it over through the Christmas trading period. The struggling High Street retailer, which launched a Company Voluntary Arrangement (CVA) after collapsing into administration in April, has told its lending syndicate that it may need to access additional borrowing facilities before the winter, according to Sky News.
Retail sales pick up in June: ONS
Retail sales increased by one per cent in June, compared with May, with non-food stores providing the largest growth contribution. The latest Office for National Statistics (ONS) figures showed year-on-year growth rate up by 3.8 per cent, with growth across all sectors except department stores.
Waitrose to lose 7 shops, risking 677 jobs
Waitrose & Partners has exchanged contracts for the sale of four shops to other parties, and is closing three others, with the 677 staff working there now entering a period of consultation over their jobs. The shops are located in Bromley (Burnt Ash Lane); Oadby, Leicestershire; Sandhurst, Berkshire; and Wollaton, Nottinghamshire – with Lidl named as the buyer for all but the Sandhurst shop.
Retailers ‘ignoring shopper tech expectations’
When it comes to in-store technologies, consumers have heard all the promises but are still waiting on retailers to deliver, according to A.T. Kearney’s latest market survey. The consultancy polled 1,000 people from various demographic and economic backgrounds about emerging tech used in physical stores, focusing on five crucial technologies.
Online sales up to strongest growth this year
With excellent weather and the start of the sale season signalling the arrival of summer, online retail sales rose by 8.5 per cent year-on-year in June, according to the latest IMRG Capgemini eRetail Sales Index. After a disappointing May, which saw online sales suffer their worst growth on record (up only 1.9 per cent), June’s results represent the strongest growth so far this year, and are well ahead of the three, six and 12-month rolling averages (respectively -0.5 per cent, 5.4 per cent and 6.9 per cent).
Toys R Us to relaunch in the US
Toys R Us has partnered with tech-led retailer B8ta to relaunch the chain across the US. Following the brand’s collapse last year, its former chief merchandising officer Richard Barry - whose company Tru Kids owns the rights to the brand - announced that two new stores are due to open later this year.
Payments FinTech SumUp raises €330m
Payments FinTech SumUp has raised €330 million to grow its network of merchants across 31 markets worldwide. The funding round was led by Goldman Sachs Private Capital, Bain Capital Credit, HPS Investment Partners and TPG Sixth Street Partners.
UK e-commerce market to hit €231 billion by 2021
The e-commerce market in the UK is expected to grow by nine per cent a year over the next three years – with the market projected to be worth €231.2 billion by 2021. Research compiled by J.P.Morgan noted that the UK represents more than 30 per cent of the total European e-commerce market. France (€81.7 billion) and Germany (€73 billion) are the second and third largest e-commerce markets respectively today, together representing a third of all e-commerce activity in Europe.
Superdry partners Klarna for payments tech
Superdry is rolling out Klarna’s payments technology to let customers buy now and pay later across stores in the US, UK and online. The clothing chain announced that the partnership, enabled by Adyen’s payments platform, would offer customers the chance to use Klarna’s Pay later or Pay in 3 instalment options.