Retail news

• Sainsbury’s departing singing executive will have hoped for better

  22-01-2020 20:21
  
  After five quarters of falling sales and five years at the helm, it’s time for Mike Coupe to say goodbye“There is never a good time to move on,” said Mike Coupe, but he’s wrong. Now is an ideal moment for him to leave Sainsbury’s.The failed bid for Asda was so juddering for the company that it wasn’t even mentioned in the soapy farewell messages. Reinvigoration tends to be easier under a new boss and, since Coupe has had almost six years at the helm, retiring
  
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• Online sales at Wolf & Badger grow by 59%

  22-01-2020 16:07 via retailgazette.co.uk
  
  // Wolf & Badgers online sales grew by 59% in 2019
  // The marketplace attributed its store opening in Kings Cross as a factor in its successWolf & Badger’s online sales grew 59 per cent from £6.6m to £10.5m in 2019.
  Drapers reported that the marketplace is expected to report an overall revenue growth of 80 per cent in 2019.
  This is due to the success of its London flagship which opened in Coal Drops Yard King’s Cross in July 2018 as well as its newly refurbis
  
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• Aldi, Lidl & Ikea top YouGov’s BrandIndex retail ranking

  22-01-2020 15:02 via retailgazette.co.uk
  
  // Aldi, Lidl & Ikea top YouGov’s 2019 BrandIndex Buzz Rankings
  // Half of the 10 most improved brands still have negative buzz rankings despite a better 2019YouGov has revealed the brands and retailers which have topped its 2019 BrandIndex Buzz Rankings, although the overall top 10 did not include a British retailer.
  Aldi, John Lewis, Ikea and Primark topped YouGov’s rankings for retail, although Netflix knocked Aldi off the top spot on the overall list.
  It also marks the first
  
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• Loaf poaches Debenhams’ finance director for CFO role

  22-01-2020 15:01 via retailgazette.co.uk
  
  // Loaf appoints Anne Blixen-Finecke as its new chief financial officer
  // She will be moving from Debenhams, where she is currently commercial financial director
  // Blixen-Finecke has also previously had senior finance stints with M&S and TescoLoaf has raided Debenhams’ senior ranks to hire Anne Blixen-Finecke to become its chief financial officer.
  Blixen-Finecke has been with Debenhams since 2016, currently in the position of commercial financial director.
  She had played a vital role
  
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• Aldi, John Lewis and Ikea top YouGov’s retail ranking

  22-01-2020 14:58 via retailgazette.co.uk
  
  // Many retailers top YouGov’s 2019 BrandIndex Buzz Rankings
  // New entry Greggs enters at seventh place after a year of vegan successes & is third most improved brand
  // Half of the ten most improved brands still have negative buzz rankings despite a better 2019YouGov has revealed the brands and retailers which have topped its 2019 BrandIndex Buzz Rankings for Retail.
  Aldi, John Lewis, Ikea and Primark topped YouGov’s rankings for retail, although Netflix knocked Aldi off the to
  
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• Boots to launch more beauty halls in 60 UK stores

  22-01-2020 14:50 via retailgazette.co.uk
  
  // Boots to launch beauty halls across 60 UK stores this spring
  // Last year, Boots launched beauty halls in 29 stores
  // Huda Beauty will arrive online on January 28 and in stores January 31Boots has revealed plans to launch additional revamped beauty halls across 60 stores in the UK this spring in a bid to become a more “accessible” place for customers.
  The health and beauty retailer is also introducing make-up brand Huda Beauty online on January 28 and in stores on January 31, to
  
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• Aldi to remove plastic applicators from tampons

  22-01-2020 14:41 via retailgazette.co.uk
  
  // Aldi to remove plastic applicators from own-brand tampons
  // The move will save 14 tonnes of plastic a year
  // By the end of January, all own-brand plastic applicators will be replaced by cardboard alternativesAldi is set to scrap all plastic applicators from its own-brand tampons, saving over 14 tonnes of plastic a year.
  From the end of January, the German discount grocer will remove plastic applicators from its shelves in favour of cardboard alternatives.
  The move is part of Aldi’s on
  
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• Sainsbury’s shareholders count the cost as Coupe cuts free

  22-01-2020 14:09 via ft.com
  Outgoing chief’s cost-cutting strategy looks likely to remain after Asda bid blocked
  
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• Guitar maker Fender fined £4.5m for price fixing in UK

  22-01-2020 13:46
  
  Firm admits to pursuing policy of restricting retailers from cutting online pricesThe guitar maker Fender has been fined £4.5m for price fixing by the UK’s competition watchdog as part of its clampdown on the musical instrument industry.The Competition and Markets Authority imposed the penalty on Fender Europe for breaking competition law by preventing online discounting for its guitars. It is the biggest fine issued in Britain for this type of price fixing, which is known as resale
  
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• Aspinal of London in sale talks despite strong Christmas

  22-01-2020 12:17 via retailgazette.co.uk
  
  // Aspinal of London hires KPMG to review funding options
  // The handbag retailer is said to be in talks with prospective buyers
  // Despite the sale talks, Aspinal of London recorded a strong Christmas sales growthAspinal of London has drafted in KPMG advisers to review funding options amid talks about a sale of the company.
  The leather goods retailer has hired advisers to to work on “a financing plan B” and is reportedly in talks with prospective buyers, Sky News reported.
  Howe
  
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• Majestic Wine shakes up boardroom after “superb Christmas”

  22-01-2020 11:28 via retailgazette.co.uk
  
  // Majestic Wine implements a management reshuffle
  // It has poached Britvic HR director Suzanne Kielty as its new people director
  // Managing director John Lincoln has exited after 2 years at the roleMajestic Wine has revealed its managing director of two years, Josh Lincoln has stepped down from the business amid a management reshuffle.
  The alcohol retailer’s executive chairman and chief executive John Colley has set his sights on reshaping his executive team.
  Chief customer officer Nata
  
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• Adidas hits major sustainable milestone with 50% recycled polyester in 2020

  22-01-2020 11:26 via chargedretail.co.uk
  
  Adidas has reached a major sustainability milestone as it announces that the share of recycled polyester in all its products will “exceed 50 per cent for the first time” in 2020.
  The sportswear giant revealed this week that more than half the polyester used in all of its items produced throughout this year, including clothing, shoes and sports goods like shin pads, will be recycled.
  This came amid announcements of numerous ambitious sustainability pledges, including using “only
  
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• WHSmith’s Christmas travel sales offsets poor high street trading

  22-01-2020 10:10 via retailgazette.co.uk
  
  // WHSmith’s overall Christmas sales rose 7% but dropped 1% on a like-for-like basis
  // Its travel arm saw revenue jump by 19% thanks to the acquisitions of InMotion & Marshall Retail Group
  // Its high street performance saw sales drop 5% on a total and like-for-like basisWHSmith’s overall sales during the Christmas trading period have risen, despite dropping on a like-for-like basis.
  The stationery and book retailer’s stable travel performance helped offset a decline in hi
  
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• WHSmith’s Christmas travel sales dragged by poor high street trading

  22-01-2020 10:10 via retailgazette.co.uk
  
  // WHSmith Christmas sales rose 7% but dropped 1% on a like-for-like basis
  // Its travel arm saw revenue jump by 19% thanks to the acquisitions of InMotion and Marshall Retail Group
  // Its high street performance saw sales drop 5% on a total and like-for-like basisWHSmith’s total sales during the Christmas trading period have risen, despite dropping on a like-for-like basis.
  The stationery retailer’s stable travel performance was dampened by a decline in high street revenue.
  In the 2
  
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• Burberry sales edge up in golden quarter

  22-01-2020 10:07 via retailgazette.co.uk
  
  // Burberry like-for-like store sales up 3%  for the 13 weeks to December 28
  // Total retail revenue for the third quarter grew by just £8m to £719m, a 1% increase
  // Burberry now expects full-year revenue to grow by a low single-digit percentage, compared with previous guidance of broadly stable salesBurberry has posted an increase in quarterly like-for-likes as full-price sales did well during the crucial Christmas period, despite disruptions in Hong Kong – one of its co
  
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• Pets at Home’s dog grooming service boosts Christmas sales 7.9%

  22-01-2020 09:45 via retailgazette.co.uk
  
  // Pets at Home total revenue increased 7.9% to £255.9m in the 12 week period from October 11 to January 2
  // Its financial guidance remains unchanged
  // Pets at Home launched a further 9 new format pet care centres in the periodPets at Home has recorded a revenue growth over the key Christmas and Black Friday trading period following a surge in demand for its dog grooming services.
  For the 12 week period from October 11 to January 2, the group’s total revenue grew by 7.9 per cent to
  
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• Ted Baker balance sheet error worse than feared as woes deepen

  22-01-2020 09:40
  
  Struggling fashion retailer’s shares fall after £58m hole in accounts revealed The struggling fashion retailer Ted Baker has admitted that an accounting error was twice as big as initially thought, leaving it with a £58m hole in its balance sheet.Ted Baker appointed accountants from Deloitte last month to investigate after the company found that it had overestimated the value of its stock. Continue reading...
  
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• Ted Baker’s accounting overstatement triples to £58m

  22-01-2020 09:38 via retailgazette.co.uk
  
  // Auditors find that the value of Ted Baker’s stock inventory was overstated by £58m
  // This almost 3 times as worse as the initial estimates of between £20m-£25m late last year
  // The accounting blunder follows a tough year for Ted Baker, with profit warnings, a scandal and the exit key leadersTed Baker has revealed that its accounting blunder is actually almost three times as bad as it first thought, after auditors ripped apart the retailer’s stock assessment.
  Au
  
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• Burberry boosts outlook despite blow from Hong Kong unrest

  22-01-2020 09:31 via ft.com
  Luxury goods group reports rapid growth in mainland China
  
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• Sainsbury’s CEO Mike Coupe resigns amid head office job cuts

  22-01-2020 09:22 via retailgazette.co.uk
  
  // Sainsbury’s CEO Mike Coupe will retire from his role in May after six years in the role
  // He will be succeeded by Sainsbury’s retail & operations director Simon Roberts from June 1
  // News comes less than 24 hours after Sainsbury’s announced hundreds of job cuts in head office rolesSainsbury’s chief executive Mike Coupe is poised to step down after six years in the role as the Big 4 grocer embarks on another round of job cuts targeting head office roles.
  Sainsbury
  
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• Sainsbury's chief executive Mike Coupe to step down in May

  22-01-2020 09:20
  
  The 59-year-old, who oversaw failed merger with Asda, to be replaced by Simon RobertsSainsbury’s has announced that its chief executive, Mike Coupe, will retire in May after six years in charge of the UK’s second largest supermarket chain.Coupe, 59, will be succeeded by the grocer’s retail and operations director, Simon Roberts. Sainsbury’s outgoing boss has faced questions about his future since April when the competition regulator blocked Sainsbury’s attempt to ta
  
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• Sainsbury’s chief Mike Coupe to step down after six years in charge

  22-01-2020 08:28 via ft.com
  Retail and operations head Simon Roberts to take top job in June
  
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• Sainsbury’s chief Mike Coupe to step down

  22-01-2020 08:28 via ft.com
  Retail and operations head Simon Roberts to take top job in June
  
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• Indonesia’s Tokopedia targets $1.5bn in fresh funds

  22-01-2020 01:01 via ft.com
  Temasek, SoftBank and Alibaba are expected to invest in ecommerce platform
  
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• William May celebrates best-ever trading year

  22-01-2020 01:00 via theretailbulletin.com
  
  Manchester-based jeweller William May is celebrating its best ever 12-month trading period when sales increased by 40% year-on-year. The company said growth was particularly strong across... View Article
  
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• WH Smith benefits from strong performance in travel business

  22-01-2020 01:00 via theretailbulletin.com
  
  WH Smith grew its revenue by 7% in the 20 weeks to 18 January, but like-for-like revenue fell by 1% in the period. The retailer’s travel... View Article
  
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• TK Maxx to join line-up at Queensgate

  22-01-2020 01:00 via theretailbulletin.com
  
  TK Maxx is to join the retail line-up at Peterborough’s Queensgate Shopping Centre this March. The retailer has taken a 37,500 square foot store on the... View Article
  
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• Sainsbury’s chief executive Mike Coupe to retire

  22-01-2020 01:00 via theretailbulletin.com
  
  Sainsbury’s has announced that its chief executive Mike Coupe is to retire later this year. He will be succeeded by Simon Roberts who is currently working... View Article
  
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• Pets at Home on track after successful third quarter

  22-01-2020 01:00 via theretailbulletin.com
  
  Pets at Home has reported a record-breaking performance in its third quarter which included its biggest ever online and offline trading days. In the 12 weeks... View Article
  
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• Pet at Home on track after successful third quarter

  22-01-2020 01:00 via theretailbulletin.com
  
  Pets at Home has reported a record-breaking performance in its third quarter which included its biggest ever online and offline trading days. In the 12 weeks... View Article
  
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• M&S expands its retail, operations and property leadership team

  22-01-2020 01:00 via theretailbulletin.com
  
  Marks & Spencer has expanded its retail, operations and property leadership team with the appointment of Will Smith as property director and Helen Milford as retail... View Article
  
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• Loaf appoints chief financial officer

  22-01-2020 01:00 via theretailbulletin.com
  
  Furniture retailer Loaf has appointed Anne Blixen-Finecke as its new chief financial officer. Blixen-Finecke has joined Loaf from Debenhams where was commercial financial director. Prior to... View Article
  
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• Learn how retailers are making their shrink management systems work smarter

  22-01-2020 01:00 via theretailbulletin.com
  
  The fast-changing world of retail has placed new pressures on store leaders to improve loss prevention programs and decrease shrink while supporting an optimal customer buying... View Article
  
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• Burberry raises full year guidance following popularity of new lines

  22-01-2020 01:00 via theretailbulletin.com
  
  Burberry has raised its full year guidance after its new collections proved popular with customers in its third quarter. Comparable store sales increased by 3% in... View Article
  
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