Retail news round-up: Morrisons and Amazon’s locker deal, Paperchase prepares to float, and The Original Factory Shop unveils chairman
Morrisons has inked a collection locker deal with Amazon, BBC News reported.
Under the terms of the agreement, the grocer will be able to deploy hundreds of Amazon lockers in its supermarkets this year.
The arrangement would allow shoppers who are unable to wait at home for orders to collect them from a location of their choice.
Morrisons chief financial officer Trevor Strain said he believed the option to pick items up "from one of our hundreds of conveniently located supermarkets will be attractive".
Paperchase eyes £150m stock market flotation
Stationery and card specialist Paperchase is preparing to list on the stock exchange, valuing itself at £150m, The Mail on Sunday reported.
Private equity backer Primary Capital is thought to be seeking an exit after six years of ownership.
The Original Factory Shop drafts in new chairman as annual profits rise
The Original Factory Shop reported a 6.3% increase in its annual profits to £15.1m in spite of "investing in its IT systems and web platform and opening 13 stores and 'refreshing' a further 83 outlets during the period”, The Times reported.
Revenue in the year to March 27 rose nearly 6% to £184.5m. Better merchandising and stronger range selections had helped push like-for-like sales for the full year up by 2.6%.
The Original Factory Shop’s chief executive Tony Page said that the business continued to grow despite operating in a very challenging market.
The discount department store retailer has named former Matalan boss Alistair McGeorge as its new chairman, replacing David Williams.
M&S boss rejects MPs’ three-year pay freeze demand
Marks & Spencer’s chief executive Steve Rowe has defied Labour MPs’ call to accept a pay freeze for three years.
In a written reply seen by The Mail on Sunday, Rowe said he and other executive directors had already agreed not to take a pay hike next year, but offered no further freeze.
He also has rejected the MPs’ call for the retailer’s board to reconsider staff pay changes, saying "the vast majority" would be better off.
Rowe told the MPs in his letter: “For those who would see a reduction in total pay as a result... top-up payments will ensure nobody is worse off in the first two years.”
Poundland’s new owner could swap some stores with Pep & Co
Value retailer Poundland’s new owner Steinhoff is considering expanding its clothing line or swapping some of the 700 stores with its own fashion chain Pep & Co.
Former Asda boss Andy Bond said: "There are a number of areas we will look at – whether it is looking at how we could use each other’s ranges or exchanging properties."
Bond also told The Mail on Sunday he was beginning the latest expansion for Pep & Co next week, increasing the number of stores from 50 to 80.
Net-a-Porter poaches Barneys New York president as managing director
Luxury fashion etailer Net-A-Porter has parachuted Barneys New York’s vice-president of digital in the new role of managing director, Evening Standard reported.
Matthew Woolsey, who will be based in its White City headquarters, will oversee day-to-day management while heading up Net-A-Porter’s global expansion plans.
Woolsey will also be in charge of marketing at the online business, which stocks high-end brands including Calvin Klein and Gucci.
Net-A-Porter president Alison Loehnis said Woolsey has “a clear vision of how best to harness technology to enhance service and customer experience”.