Retail News and Trends for 28th January 2020

1.

Lucky's Market Files for Chapter 11 Bankruptcy

Along with closing 32 of its 39 stores, Lucky's Market revealed that it has filed for Chapter 11 bankruptcy protection and signed an asset purchase agreement with deep discounter Aldi for five leased store properties and the purchase of one owned property

2.

Sainsbury's in £1bn investment to become carbon neutral by 2040

Sainsbury’s has pledged to spend £1bn to become a carbon-neutral business by 2040, 10 years ahead of the government’s target for a net-zero economy.

3.

Asos bounces back from difficult year

The company posted a 20 per cent rise on group sales to £1.1 billion ($21.0 billion) in the four months to December 31

4.

David Jones half year sales dip, though customers show up online

Despite having closed several stores over the period, David Jones’ net space increased 1.2 per cent over the half. 

5.

Suppliers seek to put La Senza retail chain into bankruptcy

La Senza, the Canadian brand that L Brands sold to a private equity firm last year, is facing an uncertain future.

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