M&S to cut 60 clothing and home stores & 53 International Stores (2100 employees)

From BBC - http://www.bbc.co.uk/news/business-37906466 Marks and Spencer has announced that over the next five years it will have 60 fewer clothing and home stores, of which 30 will close down. The rest will be turned into food stores and chief executive Steve Rowe also plans to open 200 new Simply Food shops as part of turnaround plans. The retailer said it would also exit 10 loss-making international markets. Its announcements came as M&S reported falling sales and profits in the six Read more [...]

Tesco Bank Breached

From BBC - http://www.bbc.co.uk/news/business-37891742 Tesco Bank's chief executive has blamed "a systematic, sophisticated attack" for the money taken from 20,000 of its customer accounts. Benny Higgins said the bank knew "exactly" what the attack was, but could not say more because it was part of a criminal investigation. He said all affected customers would be refunded by the end of Tuesday. About 40,000 accounts saw suspicious transactions over the weekend, of which half had money taken. The Read more [...]

Six iconic retailers and their digital transformation journeys

Great article by econsultancy. I've worked at 3 of these retailers and have friends at another 2. I've added the eCommerce platforms they use. https://econsultancy.com/blog/68216-six-iconic-retailers-and-their-digital-transformation-journeys   How is retail being changed by digital? What better way to find out than by looking at six icons of retail, three from the US (Macy's, Walmart, Walgreens) and three from the UK (John Lewis, Marks & Spencer, and Boots). Here are their Read more [...]

Asda wine costing £4.37 is top of Decanter World Wine Awards

La Moneda Reserva Malbec from Central Valley in Chile (2015) was awarded best in show in the best single-varietal red under £15 at this year's Decanter World Wine Awards. An Asda red Malbec priced at £4.37 has been named the best in the world in a blind tasting test with a panel of 240 experts at the world's largest and most influential wine competition. La Moneda Reserva Malbec from Central Valley in Chile (2015) was awarded best in show in the best single-varietal red under £15 at Read more [...]

Sean Clarke to be Asda’s new chief executive

Walmart has appointed its China boss Sean Clarke as Asda’s new chief executive, replacing Andy Clarke who will step down at the end of July. Asda said Andy Clarke had “decided the timing is right to step aside from his role with the company” after six years as chief executive and 20 years with the grocer overall. Sean Clarke will join as Asda’s chief executive and president on July 11. Sean Clarke began his retail career at Asda in 1996. Since then, he has worked at an Read more [...]

Amazon’s most profitable quarter ever!

Amazon's hardware division and Amazon Web Services stood out to give the world's biggest online retailer its most profitable quarter ever. The Seattle-based company posted a net income of $513 million, or earnings of $1.07 per share for the first quarter, recording its fourth straight profitable quarter. This is in stark contrast to the company's reported loss of $57 million four quarters back and a marked deviation from analysts' EPS projection of 58 cents. Gross revenue stood at $29.13 billion, Read more [...]

Amazon Fresh to Soft Launch in May & Amazon Appoints ex Asda Exec as UK Managing Director

Amazon’s China country manager Douglas Gurr will move back to the UK to replace Christopher North as the Country Managing Director. Mr Gurr will start in late May following the departure North. Before joining Amazon, Gurr was a Senior Executive at Asda for over 5 years. His supermarket experience is likely to come in useful for Amazon as it moves further into online groceries in the UK. The Grocer reported today that they had heard from Amazon Fresh suppliers saying a soft launch of Amazon Read more [...]

Asda hands £95m media and creative to Publicis Group

http://www.campaignlive.co.uk/article/asda-hands-95m-media-creative-publicis-groupe-double-coup/1390768 Asda has handed both its creative and media accounts, worth an estimated £95 million, to Publicis Groupe agencies without a pitch in a dramatic move. Saatchi & Saatchi, which already handles creative for Asda's US parent company Walmart in New York, has won the creative from VCCP, which has had the account since 2013. Blue 449 has snatched the media from Carat, which has held Read more [...]

Sainsbury’s Drops Brand Match scheme

Supermarket chain Sainsbury's is to stop running its Brand Match scheme, which gives money back when branded goods are cheaper at rival Asda. Sainsbury's, which has been running the promotion since 2011, will end it in three weeks' time. It says it will use the money saved to cut prices on basics. Increasingly shoppers buy little and often, which means fewer baskets contain the 10 items needed to qualify for Brand Match. Earlier on Thursday, the Co-op credited the "little and often" method Read more [...]