Today’s news in brief-20/6/24

Sainsbury’s announced the sale of its banking arm’s personal loan, credit card, and retail deposit portfolios to NatWest, scheduled for completion next year. The sale, which excludes Sainsbury’s Bank’s commission income businesses like insurance and travel money, will involve Sainsbury’s paying NatWest £125m to take over the portfolios. Sainsbury’s plans to return at least £250m to shareholders following the sale. Existing banking customers will transfer to NatWest in the first half of 2025 without any immediate changes to their terms.

Lidl plans to host a series of contractor events in July across Newcastle, Glasgow, Birmingham, and Southampton to support its expansion efforts. These events will provide contractors with insights into Lidl’s structure, processes, and opportunities for collaboration. This initiative follows significant investments in Lidl’s infrastructure and a published wish list of new store locations in major cities.

Labour leader Keir Starmer has committed to tackling abuse against shop workers if his party wins the general election. Starmer reiterated the Labour manifesto’s promise to introduce a specific offence for assaults on retail staff during a visit to a Morrisons store in Swindon. He emphasised the need to address not just shoplifting but also the abuse and threats faced by workers. Conservative leader Rishi Sunak had earlier agreed to include protections for retail staff in the Criminal Justice bill, but this initiative was sidelined due to the election call for July 4.

Saucony, a division of Wolverine World Wide, has appointed Joy Allen-Altimare as global chief marketing officer. Allen-Altimare, with over 24 years of experience in brand innovation, will lead Saucony’s global branding initiatives and strategies. She previously served as the chief revenue officer for Havas Media Network North America and held significant roles at Kindbody and EHE Health. Saucony’s global brand president, Rob Griffiths, praised her as a passionate leader capable of driving cultural transformation.

The Perfume Shop experienced a notable 4% increase in sales during the 14 days leading up to Father’s Day, selling a record 225,397 bottles. Popular fragrances included Dior Sauvage, Rabanne 1 Million, and Prada Luna Rossa Ocean. In-store and online sales both saw a 10% boost compared to the previous year.