Up-to-date coverage of the latest events in UK retail.
01.05pm Amazon and Alibaba ranked world’s top brands
Retail giant Amazon has taken the top spot in a ranking of the world’s best retail brands with Chinese retailer Alibaba placing second.
Research issued by ad group WPP and its data analytics branch Kantar showed Amazon nearly doubled its value last year and is now worth $316bn (£244bn).
Chinese conglomerate Alibaba’s value rose 48% taking its value to $131bn (£101bn).
Fashion retailers Zara and H&M both ranked in the data despite the both retailers values decreasing. Zara’s value fell 10 per cent to $23bn (£17.8bn), while H&M dropped 39 per cent, to $6.4bn (£4.9bn)
Kantar’s BrandZ ranking global strategy director Graham Staplehurst said: “Both Alibaba and Amazon are connecting with consumers across a wide variety of their needs.
“They are growing more than others partly because of their activity outside retailing.”
11.36am John Lewis Partnership weekly sales slump
Waitrose and Partners total sales slumped 3.6% for the week to May 11.
The grocers ambient and non-ambient food sales decreased 2.6% and 3.4% respectively.
Home and general merchandise sales slumped 11.7% which was attributed to being compared with a much warmer week the same period the previous year.
John Lewis & Partners sales decreased slightly by 0.6% for the same period.
The department stores fashion and home sales both registered a decrease of 0.2% and 3.3% respectively.
However, electrical & home technology sales increased 3.4% bolstered by the sale of TVs and vacuum cleaners.
John Lewis Partnership total sales were down 2% to £205.85m for the same period.
07:51am Supermarkets could be fined for food waste, Gove says
Environment Secretary Michael Gove has urged supermarkets to commit to halving food waste by 2030 or risk facing government fines.
Supermarkets including Tesco, Sainsbury’s and Waitrose are amongst the 300 food companies which have teamed up with the government on the initiative.
Speaking at the Step Up to the Plate event in London yesterday, Gove said the food waste problem in the UK is an “environmental, economic and moral scandal.”
07.45am Harrods named as world’s best performing department store
Luxury department store Harrod’s has been named as the world’s best performing luxury department store in a study by architects Sybarite and analysts GlobalData.
Selfridges and Liberty also made the top five with Fenwicks placing in the top ten list.
GlobalData consulting director Joseph Robinson said: “The highest ranked retailers are all benefiting from their pro-activity in investing in their stores, helping them to offer differentiation and unique shopping experiences.
“This is particularly important against the backdrop of the relentless rise of online penetration, and the increasing focus among luxury brands on going alone with standalone stores.”
07:35am Landsec losses widen despite sales rise
Landsec recorded widening full-year losses against a backdrop of what boss Robert Noel described as “well-publicised difficulties in the retail market”.
Landsec has posted a £123m loss before tax in comparison with a pre-tax loss of £43m the previous year, despite an 8.9% uptick in sales to £442m for the year ending March 31.
The retail property group, which operates shopping centres including Bluewater, Westgate Oxford and Trinity Leeds said it has delivered a “strong year operationally” despite the ”backdrop of political gridlock and the well-publicised difficulties in the retail market.”
07:28am Cotswold Outdoor owner CVA approved
Cotswold Outdoor owner Outdoor & Cycle Concepts, which also operates sportswear chains Snow+Rock, Runners Need and Cycle Surgery, has won approval for its CVA by a majority of over 97% of creditors.
As part of the restructuring, four stores will close will close over the next three months; Cotswold Outdoor in Peterborough and Ipswich, Cycle Surgery in Highbury and Snow+Rock in Bridgend.