Uniqlo parent Fast Retailing cuts outlook Japan’s Fast Retailing has lowered its outlook for the year due to the fallout from Covid-19. Despite this move, the business also reported a strong rebound in domestic same-store sales for June and has said that China is recovering faster than expected. Read more.

John Lewis to permanently shutter eight stores John Lewis & Partners has confirmed that it will close eight of its shops, including two of its full-size department stores. The retailer has said that the stores that are closing were "already financially challenged." Read more.

Boots to cut 4,000 jobs in restructuring plan Boots has announced plans to make 4,000 job redundancies – about 7% of its total UK workforce. The restructuring plan, which aims to mitigate the impact of Covid-19, will also result in the closure of 48 Boots Opticians stores. Read more.

Walmart launches subscription service to take on rival Amazon Walmart+, which the US retail giant has been working on for two years, will launch in the US this month. According to reports, Walmart+ will cost $98 a year and include perks such as same-day delivery on grocery and general merchandise orders. Read more.

The Entertainer invests £1m in flagship store The Entertainer has invested £1m to re-vamp its regional flagship store in the Bullring, Birmingham. The 9000sq ft store includes new flooring, lighting, interactive areas and an Early Learning Centre shop-in-shop. Read more.

US-based Brooks Brothers files for bankruptcy With plans to permanently close 51 stores, the 202-year-old retail brand has filed for bankruptcy. The menswear business has said it is looking for a buyer and plans to hold an auction. Read more.