British Land feels COVID-19 rental income pinch
British Land has written down the value of its retail portfolio by more than a quarter due to the Coronavirus ruling out most of its retail rental income. The lockdown pushed the shopping centre owner to a £1.1 billion loss for the year to the end of March - compared with a loss of £320 million the previous year.
Boots launches entirely digital product range
Boots will unveil its first entirely digital global product launch alongside a range of new virtual services. Parent company Walgreens Boots Alliance is set to launch its No7 Advanced Retinol Complex Night Concentrate skincare products in the UK tomorrow.
UK retailers turn to digital to survive pandemic
As a result of COVID-19, 60 per cent of UK retail companies are overhauling their business strategies, with 42 per cent looking to invest in digital. This is according to a survey commissioned by LiveArea and conducted in May by Opinium among 500 business managers across various industries in the UK.
New startup enables online shopping with friends
A new startup has launched aiming to let users to go shopping together on the largest fashion e-commerce websites. Squadded is a Chrome browser extension which lets people register and invite friends, adding the social layer of in-person, in-store shopping.
Aldi launches store entrance traffic light system
Aldi is launching an automated traffic light system to let people into its UK stores, limiting numbers and promoting social distancing. Following a successful trial of the technology, the supermarket chain will roll the system out this week. Each store will have a specific number of customers it can allow in at any one time to enable two-metre social distancing.
Non-essential retailers to reopen from 15 June
The prime minister has announced that non-essential retailers will be able to reopen stores in England from 15 June, so long as social distancing measures are implemented. Boris Johnson stated yesterday that openings would be “contingent on progress in the fight against Coronavirus” and retailers would have to adhere to the new guidance published for the retail sector “detailing the measures they should take to meet the necessary social distancing and hygiene standards”.
TrueCommerce partners Trust Payments for e-commerce tech
Retail technology provider TrueCommerce has entered into a strategic partnership with payments gateway firm Trust Payments to extend its services to business-to-business (B2B) e-commerce customers. The new relationship will enable users of TrueCommerce’s platform to implement Trust Payments’ payment solutions for all online transactions.
Hammerson chief executive set to step down
Hammerson chief executive David Atkins is set to resign, as the shopping centre owner faces cashflow problems stemming from Coronavirus shop closures. He will remain in the post until the spring of 2021 at the latest to allow a search for his successor to be conducted.
Amazon Prime Day delayed until September
Amazon Prime Day will be delayed until September to ensure its warehouses and logistics operations are running at full capacity. The Wall Street Journal reported that despite initial Coronavirus restrictions prioritising essential items being lifted, delivery times could still take month to return to the one and two-day pre-crisis norms.
Clarks cuts 900 jobs in COVID survival strategy
Clarks will cut 900 office jobs as part of a new strategy to revitalise the business through the Coronavirus. The footwear retailer has made 160 redundancies globally today, including 108 at its headquarters in Street, Somerset.
ONS reports record retail sales falls in April
The Office for National Statistics (ONS) has reported that all retail sales measures had record declines in April - from 1988 when records began - for both value and volume, as many stores paused trading from the Coronavirus lockdown on 23 March. The record fall of 18.1 per cent in April, followed the fall of 5.2 per cent in March.