Retail news

• High finance: Mr Nice 'cannabis lifestyle' shop opens in London

  16-05-2019 21:04
  Store named after celebrity dealer Howard Marks sells legal products such as CBD oilHoward Marks made his name in the illicit drugs trade but the late drugs baron is making a posthumous comeback to cash in on a booming legal trade in cannabis-related products.Borrowing his most famous alias, the first Mr Nice store opened in London’s Soho district on Thursday, selling everything from upmarket bath bombs and face creams to hoodies inspired by Britain’s best-known drug smuggler. Contin
  
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• Metro Bank got there eventually, but this story is not over yet

  16-05-2019 20:55
  The bank has undergone a confidence-shaking saga and its chairman must surely goIn July last year Metro Bank didn’t have to break sweat to raise £300m from investors. It got its money at £34.22 a share, close to the prevailing market price.This year’s exercise has been excruciating. The need for £350m was announced at the end of February, weeks after the confidence-shaking saga in which Metro confessed it had placed £900m of loans in the wrong risk bracket. It
  
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• Julian Richer says ethics is key to business success

  16-05-2019 20:12
  Richer Sounds’ founder does not expect others to follow his lead of creating staff-owned trust
  
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• The Guardian view on Richer Sounds: mutual benefits | Editorial

  16-05-2019 19:36
  By handing over the retail chain to staff, its founder Julian Richer is showing that there are fairer ways to run a business – and to pass it onSeekers for an alternative and more equitable model of how to do business this week struck gold. Julian Richer, owner of Richer Sounds, has at the age of 60 announced a succession plan that involves handing control of his hi-fi and TV retail chain to its 531 employees. Not only is Mr Richer, who founded the business when he was 19, selling 60% of h
  
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• Walmart’s investments boost sales but dent profits

  16-05-2019 19:23
  Retailer posts big rise in US sales thanks to strong economy and online shopping
  
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• Slow growth in China weighs on Burberry

  16-05-2019 19:17
  Consumers in Asia-Pacific region account for 40% of revenues worldwide
  
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• Waitrose eyes rapid expansion of online grocery business

  16-05-2019 18:47
  Supermarket chain aims to treble online revenue in three years, following Ocado split Waitrose is aiming to treble the size of its online business to £1bn annually following the end of its partnership with Ocado, by teaming up with one of the grocery delivery specialist’s co-founders.Waitrose is targeting rapid online revenue growth over the next three years with the help of a new partner, Today Development Partners. Continue reading...
  
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• 3i: Action plan

  16-05-2019 18:04
  Private equity firm’s biggest bet is discount retailer — and it has no plans to change that
  
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• Burberry to close one in 10 stores worldwide

  16-05-2019 17:51
  Clothing company refuses to reveal location of the 38 outlets earmarked for closureBurberry is closing one in 10 stores around the world as part of an overhaul designed to take the luxury fashion brand more upmarket.The 163 year-old company refused to identify the locations of the 38 stores earmarked for closure but revealed five had already shut in Brazil and Spain. The brand will instead focus on turning its flagship stores into luxury destinations for well-heeled shoppers. Continue reading...
  
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• Waitrose enlists Ocado co-founder for online expansion

  16-05-2019 17:24
  Agreement comes after food delivery service ended supply agreement with grocery chain
  
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• Airbnb taps former Burberry boss to its board

  16-05-2019 17:09
  Angela Ahrendts left Apple in February after 5 years running its retail stores
  
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• Airbnb taps Angela Ahrendts for board role

  16-05-2019 17:09
  Former Burberry chief left Apple in February after 5 years running its retail stores
  
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• Pret a Manger in talks to gobble up Eat to fuel expansion

  16-05-2019 15:18
  Company poised to acquire majority of 94 stores for use in its vegetarian divisionPret a Manger is in talks to buy rival sandwich chain Eat as part of plans to expand its specialist vegetarian operation.The London-based coffee shop firm is understood to be in line to buy the majority of Eat’s 94 stores to step up expansion of its Veggie Pret format. Continue reading...
  
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• Walmart profits pressured by strong dollar and spending

  16-05-2019 13:42
  Retail giant took $1.8bn hit from currency movements during first quarter
  
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• Levi to enable customers to 'design' their own jeans

  16-05-2019 09:52 via theretailbulletin.com
  Customers of Levi will soon be able to design their own Levi jeans through the use of new laser technology developed by the company.
  
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• Prada scion Lorenzo Bertelli steps out with first public deal

  16-05-2019 09:46
  Race car driver unveils agreement with Adobe to integrate group’s online and offline presence
  
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• Burberry sales growth weak as it pushes turnround plan

  16-05-2019 09:00
  Luxury goods group in process of rolling out new designer’s debut range
  
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• WH Smith opens new concept store and café at Perth Airport

  16-05-2019 08:42 via theretailbulletin.com
  Book and stationery retailer WH Smith has opened a next generation concept store and café at Perth Airport in Australia.
  
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• Heal's celebrates Homes & Gardens centenary with exclusive collection

  16-05-2019 08:42 via theretailbulletin.com
  Heal’s is marking the centenary of Homes & Gardens magazine with the launch of an exclusive 'Designed by You' collection.
  
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• ASICS opens new EMEA headquarters aimed at promoting wellbeing

  16-05-2019 08:41 via theretailbulletin.com
  Sportswear brand ASICS has opened a new EMEA headquarters in Amsterdam that aims to promote employees' physical and mental wellbeing.
  
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• Q&A: James Fraser, Channels and Alliances Director - Dynamic Yield

  16-05-2019 08:32 via theretailbulletin.com
  Dynamic Yield really exists to provide all of the tools necessary to drive client revenues by serving the most relevant and valuable Customer Experiences throughout the customer journey in a single, easy-to-use platform.
  
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