Retail news

• Wilko secures £40m funding from Hilco as it faces cash squeeze

  04-01-2023 19:03
  Discount retailer also rejigs leadership team, replacing relative of founder as chairThe discount retailer Wilko has borrowed £40m from restructuring specialist Hilco and rejigged its leadership team as it faces a cash squeeze after falling to a loss and struggling to pay suppliers.Lisa Wilkinson, a member of the family which controls the 400-plus store chain, is stepping down as chair to be replaced by the former Bensons for Beds chair Chris Howell. Another former Bensons executive, Mark
  
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• M&S snaps up more ex-Debenhams units as it plans Trafford Centre mega store

  04-01-2023 18:25 via retailgazette.co.uk
  // M&S snaps up its fourth former Debenhams store as it expand its presence in Manchester’s Trafford Centre
  // The retailer has taken over the ex-department store’s units in Leeds, Liverpool One and Lakeside Shopping CentreM&S has snapped up another former Debenhams store as it signs up for a new 135,000 sq ft store in Manchester’s Trafford Centre.
  The retailer will take over the ex-department store, which has sat empty since it closed in May 2021, as it expands it
  
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• Primark CEO shuns move online: “We’ll always be a high street retailer”

  04-01-2023 18:07 via retailgazette.co.uk
  // Primark boss has made it clear the retailer will not be making an ecommerce offer
  // George Weston told the Financial Times that Primark “is and always has been a high street retailer”Primark boss George Weston has made it clear that the retail powerhouse has not been tempted to push full steam ahead with an ecommerce offer. 
  The Associated British Foods chief executive told the Financial Times Primark “is and always has been a high street retailer”. 
  &l
  
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• UK supermarkets: taking an inflationary bullet for Team GB

  04-01-2023 16:34
  Major grocery store chains fearing political backlash have shied away from passing on full-fat price increases
  
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• Sainsbury’s raises hourly pay to £11

  04-01-2023 15:59
  Move will cost retailer £185mn over course of a financial year
  
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• Discount retailer Wilko secures fresh funding after pandemic hit

  04-01-2023 14:07
  UK employer of 16,000 had warned it could run out of cash by end of 2023
  
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• Wilko secures £40m lifeline from Homebase and Cath Kidston owner Hilco

  04-01-2023 13:47 via retailgazette.co.uk
  // Wilko has secured a £40m lifeline from Homebase and Cath Kidston owner Hilco UK
  // The discount retailer reported a loss of £36.8 million in the year to January 29, 2022Wilko has secured a £40m funding lifeline from Hilco UK, one of the high street’s most prolific investors and owner of Homebase and Cath Kidston, Sky News has reported.
  Details of the loan deal were filed at Companies House late last month, and come amid expectations of a challenging trading e
  
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• Wilko secures £40m lifeline from Hilco and appoints new chair

  04-01-2023 13:47 via retailgazette.co.uk
  // Wilko has secured a £40m lifeline from Homebase and Cath Kidston owner Hilco UK
  // The discount retailer reported a loss of £36.8 million in the year to January 29, 2022Wilko has secured a £40m funding lifeline from Hilco UK, one of the high street’s most prolific investors and owner of Homebase and Cath Kidston, Sky News has reported.
  Details of the loan deal were filed at Companies House late last month, and come amid expectations of a challenging trading e
  
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• Sainsbury’s makes ‘biggest ever’ staff pay increase as it extends free food initiative

  04-01-2023 13:40 via retailgazette.co.uk
  // Sainsbury’s invests £205 million to increase staff pay
  // The latest investment is on top of the £20 million Sainsbury’s invested in OctoberSainsbury’s is increasing staff pay as it invests a total of £205 million to “recognise their extraordinary hard work”.
  The grocer has increased colleague pay to at least £11 per hour. The latest investment is on top of the £20 million Sainsbury’s invested in October.
  Both Sainsbury’s
  
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• Sainsbury’s to pay at least £11 an hour for 127,000 lowest-paid workers

  04-01-2023 13:34
  Third pay rise in a year hands employees a 7.3% rise amid fierce competition to retain and recruit staffSainsbury’s is handing its lowest-paid workers their third pay rise in a year, taking hourly wages to at least £11, amid fierce competition for shop workers and soaring living costs for employees. The supermarket chain said it was awarding the 7.3% rise to 127,000 workers, up from £10.25 an hour previously, which will be implemented early in February. It puts Britain’s
  
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• Tesco locks prices on 1000 products including frozen food until Easter

  04-01-2023 13:25 via retailgazette.co.uk
  // Tesco locks prices on over a thousand products until 10 April
  // Prices have been locked on own-brand staples, cupboard essentials, health & beauty products, and frozen foodsTesco has revealed a new price lock initiative on over a thousand products, which will be in place until Easter.
  The grocer said it has an “unwavering commitment to great value” as customers continue to struggle with the rising inflation.
  Prices have been locked until 10 April on many favourite own-brand s
  
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• eBay recouples with Love Island to encourage pre-loved fashion

  04-01-2023 13:09 via retailgazette.co.uk
  // eBay has officially recoupled with Love Island in 2023 to continue to encourage shoppers to use preloved fashion
  // New research from ITV has revealed that 53% of Love Island viewers who were aware of the eBay partnership have bought pre-loved items in the last 3 monthseBay has recoupled with ITV’s Love Island for 2023 after becoming the reality show’s first-ever pre-loved fashion partner last year.
  Last series, the online marketplace used its partnership with the show to ins
  
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• Victoria’s Secret acquires fellow US lingerie retailer Adore Me

  04-01-2023 12:57 via retailgazette.co.uk
  // Victoria’s Secret acquires Adore Me to improve the customer shopping experience
  // Adore Me, which operates in the UK, was founded in 2011 in New YorkVictoria’s Secret has acquired an online lingerie retailer to help improve its shopping experience.
  The US retailer completed its acquisition of Adore Me, which it said will improve the customer shopping experience and accelerate the modernisation of its digital platform.
  Adore Me, which operates in the UK, was founded in 2011 in New
  
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• Mamas & Papas has record Christmas as stores sales beat pre-Covid levels

  04-01-2023 12:51 via retailgazette.co.uk
  // Year-on-year sales rose 16% in the eight weeks to 25th December at Mamas & Papas
  // The retailer said it will continue its growth strategy for 2023, including more Next and Marks & Spencer concessionsMamas & Papas saw year-on-year sales grow 16% in the eight weeks to 25 December as shoppers flocked to its stores during the crucial festive trading period.
  The high street nursery retailer had its best-ever trading day on Black Friday with 30 of its 52 stores setting new records.
  Sto
  
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• Asda leads the way with Christmas sales but Aldi and Lidl post strongest growth

  04-01-2023 12:45 via retailgazette.co.uk
  // The UK’s grocery sales reached a new record at £12.8 billion in December as year-on-year growth hit 9.4%, the fastest rate recorded since February 2021,
  // Market leader Tesco, Sainsbury’s and Asda all delivered solid performances, with sales on a value basis up 6.0%, 6.2% and 6.4% respectively over the 12 weeks to December 25Buoyant Christmas sales were enjoyed across the board this month with Morrisons seeing its best performance since June 2021.
  According to data from Kan
  
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• Asda extends £1 café deal for kids and over 60’s

  04-01-2023 12:44 via retailgazette.co.uk
  // Asda extends £1 café deals for kids and over 60’s as well as its Blue Light Card discount until end of March 2023
  // Asda’s staff will also continue to receive 10% discount in stores and online from their first day of employmentAsda has extended its £1 café deals for kids and over 60’s as well as its Blue Light Card discount to help consumers during the cost-of-living crisis.
  The grocer said kids will eat for £1 in all cafes and its £1 s
  
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• UK households spent £1.1bn more on groceries in December for fewer items

  04-01-2023 10:43
  Spending higher than year earlier, with World Cup football pushing up beer salesUK households spent £1.1bn more on groceries in December than a year earlier, taking Christmas spending to a record £12.8bn, but got 1% fewer items in their baskets as rampant inflation hit home.Many stocked up on drink to enjoy while watching the men’s football World Cup, with sales of beer reaching the highest level for the year on the day of England’s quarter-final against France on 10 Dece
  
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• ‘Impossible to continue’: Sanity to close remaining stores due to dominance of digital music

  04-01-2023 08:22
  Fifty retail outlets to close by April but owner says ‘online business will continue to operate and will service many loyal customers’Get our morning and afternoon news emails, free app or daily news podcastThe dominance of digital music and streaming platforms has forced the closure of one of Australia’s most enduring retailers, with Sanity announcing it will close its 50 remaining stores by April.The company’s owner, Ray Itaoui, confirmed on Wednesday the music business
  
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• Record 13.3% UK food inflation raises fears of ‘another difficult year’

  04-01-2023 01:01
  British Retail Consortium figures come amid concern over economy and rising cost of energy billsUK food price rises soared to a record rate in December, figures show, as retail industry bosses warned that high inflation would continue in 2023 amid the fallout from surging energy bills.Annual food inflation jumped to 13.3% in December, up from 12.4% in November, according to the latest monthly report from trade body the British Retail Consortium (BRC) and the data firm Nielsen. The BRC said this
  
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• Waitrose withdraws from single use vapes market

  04-01-2023 01:00 via theretailbulletin.com
  Waitrose is to longer sell single use vaping products. The supermarket had previously decided not to enter the burgeoning market of single use vaping devices, but... View Article
  
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• Victoria’s Secret completes acquisition of Adore Me

  04-01-2023 01:00 via theretailbulletin.com
  Victoria’s Secret & Co has completed its acquisition of the Adore Me online lingerie retailer. In a statement, Victoria’s Secret said it will use Adore Me’s... View Article
  
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• Specsavers founders future proof family business with a trust

  04-01-2023 01:00 via theretailbulletin.com
  The founders of Specsavers have placed the company in a family trust that makes it clear that their children cannot sell the business to private equity. Co-founder Dame... View Article
  
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• Sainsbury’s brings forward ‘biggest ever pay boost’ for hourly-paid staff

  04-01-2023 01:00 via theretailbulletin.com
  The UK’s second-largest supermarket chain has revealed its 127,000 hourly-paid staff are to receive a pay boost earlier than planned to help with the cost of... View Article
  
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• Myprotein launches first frozen meal-prep range exclusively at Iceland

  04-01-2023 01:00 via theretailbulletin.com
  Sports nutrition brand Myprotein has teamed up with Iceland to launch its first frozen meal-prep range. Stocked online and in more than 1,000 Iceland stores, the... View Article
  
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• First half of 2023 expected to be “challenging” for retailers and consumers

  04-01-2023 01:00 via theretailbulletin.com
  The British Retail Consortium has said the first half of 2023 is likely to be challenging for both consumers and retailers with retail sales  growth of... View Article
  
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• Burberry reveals its Year of the Rabbit 2023 campaign

  04-01-2023 01:00 via theretailbulletin.com
  British luxury retailer Burberry has launched their 2023 campaign which builds on the brands spirit of adventure, a celebration of taking a leap into the unknown.... View Article
  
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• Bath & Body Works appoints vice president of investor relations

  04-01-2023 01:00 via theretailbulletin.com
  Bath & Body Works has appointed Heather Hollander as vice president of investor relations with immediate effect. Reporting to the company’s chief financial officer Wendy Arlin,... View Article
  
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