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Hotel Chocolat full year revenue rises by 12%
Hotel Chocolat has increased its full year revenue by 12% to £116 million and said it delivered a "strong” year. -
JD Sports to acquire US retailer Hibbett
JD Sports is to acquire the US sports fashion retailer Hibbett for $1.08 billion. With headquarters in Birmingham, Alabama, Hibbett has 1,169 stores in 36 states... View Article -
THG growth driven by ‘standout’ beauty arm performance
THG has posted strong revenue growth in the first quarter of 2024, which it said was led by a “standout performance” across its beauty divison.
In the first quarter of 2024, the Cult Beauty and LookFantastic owner saw a 4.5% jump in revenue compared to the previous year as total revenue rose by 0.3% on a continuing basis, reaching £459.9m for the first quarter.
THG Beauty, which delivered significant year-on-year growth, drove a revenue increase of 11.1%, while also posting a & -
John Lewis joins Canopy Pack4Good initiative
In a partnership with the environmental not-for-profit Canopy, John Lewis has become the largest UK retailer to sign up to the Pack4Good initiative Signatories to the... View Article -
Microsoft’s Olaf Akkerman joins People in Retail Awards judging panel
We’re thrilled to introduce our newest judge for the People in Retail Awards: Olaf, a dynamic leader at the forefront of the UK’s tech industry. Olaf... View Article -
Asda seeks to raise £2.6bn to refinance debt burden
via ft.comUK supermarket has carried heavy debt load since sale to billionaire Issa brothers and TDR Capital -
The wrong trousers? Retail has a new solution to the returns problem
via ft.comOnline retailers are keeping quiet about ‘returnless refunds’ but they are becoming more common -
If Australia has reached ‘peak milk’, what does that mean for our food security? | Gabrielle Chan
via theguardian.comConsumers assume Australia has milk production covered – but the national dairy herd is declining and imports are at record highsGet our morning and afternoon news emails, free app or daily news podcastIf the last thing you remember about Australian dairy farmers is the $1 milk price war, it is worth thinking a little more deeply about the white in your flat white and what it signifies for food producers.Last year, the standing committee on agriculture’s final report into food securi -
M&S trials postal donation bags for ‘unwearable’ clothes
M&S is encouraging customers to donate their used clothes via a postal donation bag as part of its tie-up with Oxfam.
The fashion retailer is trailing the option for consumers to send their unwearable clothes from any label using a pre-paid postal donation bag that is left with a local courier that the charity can then resell, reuse, or recycle.
The new initiative sits alongside its existing in-store scheme with Oxfam for wearable items and is funded by a £1m accelerator fund linked to -
Nudea marks Earth Day with second annual sustainability report
In alignment with Earth Day, Nudea, a pioneering B Corp certified brand, has released its second annual Sustainability Report, showcasing a year of substantial progress towards... View Article -
Nobody’s Child partners with Sojo for a pop-up repair station at Carnaby Street store
Responsible fashion brand, Nobody’s Child, is excited to announce an exclusive pop-up with SOJO repair station in celebration of World Earth Day, on Saturday 27th April... View Article -
M&S asks public to give pre-loved clothing a second life through trial of free postal donation service
Marks & Spencer has teamed up with Oxfam to help people donate their preloved clothing to the charity through a free postal donation service. The trial... View Article -
M&S asks public give pre-loved clothing a second life through trial of free postal donation service
Marks & Spencer has teamed up with Oxfam to help people donate their preloved clothing to the charity through a free postal donation service. The trial... View Article -
Frasers blocks finance regulator from publishing review findings
Frasers Group has declined the Financial Reporting Council’s (FRC) request to publish key findings from a review of its latest annual report.
The owner of Sports Direct and Flannels, known for past governance issues, has denied the regulator permission to release a case summary following “substantive inquiries”.
According to The Times, it is the second year running when the FRC has reviewed Frasers’ annual report, with the group again refusing to allow its findings to be -
Amazon workers in Coventry to vote on union recognition
Amazon UK could be forced to recognise a trade union for the first time after members of the GMB at its Coventry warehouse were granted permission to hold a legally binding vote.
The Central Arbitration Committee (CAC), the independent statutory body that adjudicates on collective bargaining rights, has ruled that a ballot should be held at the distribution centre to test support for union recognition, The Guardian reported.
A win would give GMB the right to discuss terms and conditions includin -
Ocado shareholders call for switch from London to New York stock market
Ocado is facing pressure from shareholders to consider leaving the London stock market for New York.
According to The Telegraph, face-to-face discussions have been held with investors in recent weeks where the idea of moving its listing to America was spoken about in detail.
Speculation about Ocado’s possible departure is being fuelled by the collapse of its share price following record highs during the pandemic when consumers shopped more online.Subscribe to Retail Gazette for free
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Understanding the challenges of mental health in retail
In recent years, there has been a surge in raising awareness regarding mental wellbeing and the negative effects of poor mental health conditions on employees’ performance.... View Article -
Lidl to open new London store in Fulham
Lidl is continuing its expansion in London with the opening of a new store in Fulham this summer. The supermarket said the shop on North End... View Article -
How to build the Store of Tomorrow
Discover how to achieve exceptional in-store experiences that drive revenue and foster unwavering brand affinity. In the “How to Build the Store of Tomorrow” eBook, you’ll... View Article -
Asda sales boosted by popularity of loyalty scheme
Asda has posted a strong uplift in full year sales and profit after it benefited from around six million customers using its rewards app. In the... View Article -
Asda sales rise amid cost of living squeeze
via ft.comUK’s third-biggest supermarket targets further debt reduction -
Selfridges targeted by Middle East and Chinese investors amid ownership battle
Selfridges is being circled by Middle East and Chinese investors as the financial troubles of the department store’s Austrian co-owner Signa spark an ownership battle.
Fellow co-owner, Thai conglomerate Central Group, wants to buy out Signa’s remaining stake in the department store chain with another partner and is in talks with several sovereign wealth funds and tycoons about a potential partnership, the Times reports.
Both Saudi Arabia’s Public Investment Fund, which supporte -
Tesco accused of undercutting local shops via its wholesale business
via theguardian.comIndependent shopkeepers say prices they pay at supermarket’s cash-and-carry arm Booker are often higher than in Tesco storesVillage shopkeepers say Tesco is consistently undercutting them by selling products for less in its stores than via its wholesale business Booker, stoking concerns about the power of the UK’s biggest supermarket chain.Tesco, which has 27% of the UK grocery market, bought the cash-and-carry group in 2017 for £3.7bn, promising that the deal would benefit sho -
New Look’s emissions targets approved by the SBTi
New Look has received approval for its emissions targets from the Science Based Targets Initiative (SBTi). The fashion retailer has a near-term target to reduce scope... View Article -
Asda returns to profit boosted by loyalty scheme success
Asda has returned to profit, posting a 24% rise in annual earnings, reflecting a 7% rise in total sales as it reduced its debt.
The retailer reported an adjusted EBITDA of £1.078bn for 2023, with total sales (excluding fuel) reaching £21.9bn, with like-for-like sales up 5.4% as it benefited from about six million customers using its loyalty app.
Around half of all sales are linked to its reward programme, Asda Rewards, which it described as a “key revenue driver” for the -
Asda profit boosted by loyalty scheme and lowering prices
Asda underlying profits swelled by a quarter last year, fueled by increased food and clothing sales.
The retailer reported an adjusted EBITDA of £1.078bn for 2023, with total sales, excluding fuel, jumping 7% to £21.9bn. Like-for-like sales rose 5.4%.
Around half of all sales are linked to its reward programme, Asda Rewards, which it described as a “key revenue driver” for the business, with around six million customers using the app.
The grocer said that customers were r -
H&M Home teams up with Pantone on second collection
H&M Home is to release a second collaboration with Pantone with a new brightly coloured capsule range. Presenting with the two palettes of Zesty & Fresh... View Article -
Dr Martens faces potential takeover as firms circle
Dr Martens is being circled by various firms looking to snap up the embattled footwear retailer.
An anonymous hedge fund investor told This is Money: “We met with management and there’s something in the offing.”
Potential buyers could include Louis Vuitton-owner LVMH as well as VF Corporation in the US, the company behind Timberland, Vans and the North Face.
Last week, Dr Martens raised its fifth profit warning in three years and revealed its CEO Kenny Wilson would be stepping -
Dr Martens faces potential foreign takeover
Dr Martens is being circled by various major fashion companies, raising the possibility of foreign ownership.
The British bootmaker has faced challenges since its listing on the London Stock Exchange.
Last week the retailer raised its fifth profit warning in three years and said its CEO Kenny Wilson would be stepping down from his role as the business flagged a “challenging” year ahead.
Amid much fanfare, Dr Martens floated in January 2021 with a valuation of £3.7bn, but since -
TikTok Shop launches new ‘Preowned Luxury’ category
TikTok has partnered with five luxury resellers with the launch of the ‘Preowned Luxury’ category on its app. In a release, TikTok said the new offering... View Article
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