Up-to-date coverage of the latest events in UK retail.

12:52pm Wyevale sells six more stores

Wyevale Garden Centres has unloaded another six garden centres - four to Hillier Nurseries and another two to Otter Nurseries. 

Hillier will take ownership of centres in Cheddar, Dorking, Marlow and Lechlade, while Otter will take ownership of centres in Jack’s Patch and Taunton. the deals are expected to be completed throughout June and July. 

Chief operating officer at Wyevale Anthony Jones said: “We are pleased to announce the sale of a further six centres to garden centre operators. The colleagues at these centres have played a key role in the success of their centres and I’d like to thank them for their continued passion and expertise, and wish them well for the future with their new owners. Meanwhile, we continue to evaluate a wide range of options as part of our ongoing sale process.”

7:35am Asos threatens crackdown on serial returners

Asos has sent an email to customers detailing changes to its returns policy, including threatening to investigate and “take action” if it notices “unusual patterns”.

The email sent this week by the online fashion giant said that customers suspected of ordering, wearing and then returning items in bulk could be at risk of having their accounts suspended.

The email said: “If we notice an unusual pattern of returns activity that doesn’t sit right: e.g. we suspect someone is actually wearing their purchases and then returning them or ordering and returning loads, then we might have to deactivate the account and any associated accounts.”

7:32am Co-op profitability ‘exceeds expectations’ 

The Co-op has said its profitability “exceeded expectations” in 2018, driven by its acquisition of grocery wholesaler Nisa and strong performance in food.

Co-op said that total revenues for the 52 weeks to Jan 5, 2019 grew 14% to £10.2bn, with the successfull acquisiton of Nisa and expansion of its wholesale business making Co-op products available to “thousands of new customers”. 

The grocer only returned to profit in 2017, and recorded pre-taxt profits of £72m in the 12 months to March 31 last year, following a £132m loss the previous year. 

7:28am Former Superdry boss in line for £730,000 payoff

Former Superdry chief executive Euan Sutherland is set to receive a £730,000 payoff from the fashion brand, after his resignation at the reappointment of Julian Dunkerton.

Sutherland, who exited the fashion group earlier this week along with nearly the entire Superdry board of directors following an EGM showdown with the fashion retailer’s co-founder Dunkerton, is set to be given a year’s salary as a payoff according to The Guardian.

The former Superdrug and B&Q executive was paid a basic salary of £728,000 at Superdry, and is entitled to the full amount despite his resignation. The payout will only be reduced if he takes on a new role within the next 12 months.

7:26am New Look operations boss Monaghan exits

New Look group operations director Dan Monaghan has departed the business in a senior management team restructure, Retail Week can reveal.

A source close to the business said Monaghan’s departure was part decided by executive chair Alistair McGeorge as part of an effort to streamline New Look’s top team and turn it into more of a “traditional management structure”.

Monaghan has been at New Look for over 14 years and was responsible for logistics, supply chain and the running of the retailer’s Chinese business in his most recent role, which he has held since 2015.

Steve Challes, New Look’s group business development director, will also retire from the fashion retailer after 15 years.

7:11am Charles Tyrwhitt chief executive steps down

Charles Tyrwhitt boss Michael Stanier has stepped down from the helm of the business a year after taking up the role.

Stanier, who joined the menswear specialist from Adidas last March, will be succeeded by the retailer’s current US boss Luke Kingsnorth.

7:02am Travis Perkins hires new managing director

Travis Perkins, owner of homeware retailer Wickes, has hired Angela Rushforth as managing director for BSS, its pipeline and heating solutions business. 

Rushforth will report to Frank Ellins, chief operating officer for trade merchanting. 

She was previously chief executive for Birchwood Price Tools and managing director for Benchmarkx Kitchens and Joinery. 

7:00am Morrisons to sell paper bags in all stores

Morrisons is to start selling paper shopping bags in all of its stores from May, according to the BBC. 

The supermarket chain will roll paper bags out in Wales next week, followed by England and Scotland. 

It has said the scheme will take 1,300 tonnes of plastic out of hte environment each year.