Retail news

• The consumer strains in the UK’s era of less for more

  05-01-2023 17:13
  Customers may not be able to keep up the spending while juggling high energy bills and rising mortgage costs
  
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• Greggs workers get 10% pay increase amid ‘material cost inflation’

  05-01-2023 16:08
  Bakery chain to pay shop staff at least £10.60 an hour after price of sausage rolls went up to £1.20Greggs has handed a 10% pay rise to workers as it warned of “material cost inflation” that prompted a third rise in the price of its sausage rolls in a year.The bakery chain said its shop workers would be paid at least £10.60 an hour from 1 January up from £9.62 brought in last year. Continue reading...
  
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• Bed Bath & Beyond warns of possible bankruptcy

  05-01-2023 15:49
  US home goods chain says there is substantial doubt about its ability to continue as a going concern
  
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• Veganuary 2023: the newest plant-based products, from lemon tart to toad in the hole

  05-01-2023 15:31 via retailgazette.co.uk
  // Read more on Grocery GazetteAs Veganuary returns this month for the tenth year running, this year’s sign-ups to the plant-based pledge have hit a record rate at one person every 2.4 seconds.
  With more Brits looking to try or commit to a vegan diet, Grocery Gazette has taken a look into the latest products and range expansions across the plant-based market. From vegan meat to chocolate and cheese, here’s a run down of retailers and FMCG brands’ latest launches…
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• Dune sets eyes on further international expansion

  05-01-2023 15:20 via retailgazette.co.uk
  // Dune to open more international stores thanks to proven success
  // Its major franchise market is the Middle East, where the brand has been trading for 15 yearsDune has its eyes on international expansion as sales across other nations now represent 26% of the total.
  With 131 franchise stores and 48 European stores and concessions, the British retailer is witnessing growth in new and existing markets.
  Dune’s recent US collaboration online with Nordstrom and Dillard’s has proved a su
  
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• Boots hails strong Christmas and record breaking Black Friday as sales jump 15%

  05-01-2023 15:11 via retailgazette.co.uk
  // Boots posts strong Christmas trading with retail sales up 15% versus December 2021
  // The retailer credited the continued focus on value and affordability for “life’s essentials” to be a significant driver of growthBoots hailed a “very strong Christmas” as retail sales jumped by 15% in December.
  The high street health and beauty giant achieved a record-breaking Black Friday with boots.com recording its biggest-ever day of sales and added that strong high street f
  
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• Co-op coffin factory workers begin further strike action over pay

  05-01-2023 14:57
  Action by coffin makers at Glasgow site to continue until 16 January in months-long disputeWorkers at the Co-op’s only UK coffin factory, in Scotland, have gone on strike again in a months-long row over pay.The Unite union said coffin makers at the Funeralcare site in Govan, Glasgow, began strike action on Wednesday that would run continuously through to 16 January. There have been several week-long strikes since October. Continue reading...
  
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• Waitrose helps Brits save up to 50% on products with January savings event

  05-01-2023 14:55 via retailgazette.co.uk
  // Waitrose launches new savings event throughout January to help customers reduce costs
  // The grocer said customers can save up to 50% on cupboard staplesWaitrose has launched a “Great Saving Event” to offer savings across thousands of products throughout January.
  The grocer said customers can save up to 50% on cupboard staples, the Essential Waitrose range, myWaitrose offers and new meal deals.
  The savings event comes as customers tackle the cost-of-living crisis.Subscribe to Reta
  
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• Thai police accused of ‘sham’ inquiry into alleged forced labour at former Tesco supplier

  05-01-2023 14:53
  Exclusive: Burmese workers say officials took one day to conclude no laws were broken at VK Garment factoryThai police have been accused of conducting a “sham” investigation into potential forced labour at a garment factory formerly used by Tesco after officials took one day to conclude no laws were broken.The Guardian revealed last month that Burmese workers who produced F&F jeans for Tesco in Thailand reported being made to work 99-hour weeks for illegally low pay in terrible c
  
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• Thai police accused of ‘sham’ forced labour inquiry at former Tesco supplier

  05-01-2023 14:53
  Exclusive: Officials took one day to conclude no laws were broken at VK Garment factory and workers say their words were deletedThai police have been accused of conducting a “sham” investigation into potential forced labour at a garment factory formerly used by Tesco, after officials took one day to conclude no laws were broken.The Guardian revealed last month that Burmese workers who produced F&F jeans for Tesco in Thailand reported being made to work 99-hour weeks for illegally
  
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• Love Island and eBay renew deal after ‘pre-loved’ clothing boost

  05-01-2023 14:40
  Online retailer to sponsor ITV reality show for second time as it lauds commercial impact of partnershipLove Island returns to screens this month and the winter version of the popular reality ITV show already has its first recoupling: eBay will sponsor the series for the second time.It follows a successful pairing last summer when eBay took over from fast fashion retailer I Saw It First. The partnership directly influenced the shopping habits of consumers. Research released by ITV shows that 53%
  
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• Re:store snaps up online marketplace Trouva

  05-01-2023 13:34 via retailgazette.co.uk
  // Personal shopping platform Re:store has bought Trouva for an undisclosed sum
  // The online marketplace was acquired by Made.com in May last yearRe:store has acquired online personal shopping platform Trouva for an undisclosed sum.The marketplace focused on indie bricks-and-mortar boutiques said the purchase would “help bridge the gap between online and offline independent retailers”.
  Trouva, which launched in 2015, currently partners with over 650 independent boutiques across
  
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• My Wardrobe HQ launches luxury rental subscription service from £59 a month

  05-01-2023 13:10 via retailgazette.co.uk
  // My Wardrobe HQ launches luxury monthly multi-label rental subscription service
  // The subscription model, which has two different membership tiers, will allow customers to rent seasonless luxury goodsMy Wardrobe HQ has launched a luxury monthly multi-label rental subscription service to allow customers to rent ready-to-wear and accessories.
  The subscription model, which has two different membership tiers, will allow customers to rent seasonless luxury goods while “enjoying a new refresh
  
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• Bargain-hunting shoppers bring new year cheer to Greggs and B&M

  05-01-2023 12:50
  Greggs plans 150 new stores for 2023 with B&M paying £200m special dividend as consumers ‘flock to value’ amid cost of living crisis Greggs plans to open 150 more stores this year and B&M is to pay a £200m special dividend to shareholders as both cut-price chains benefit from the search for bargains during the cost of living crisis.The bakery chain famous for its sausage rolls and steak bakes said sales surged by 18% in established outlets in the run-up to Christm
  
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• Asos 2023 predictions: Noughties staples will dominate young fashion trends

  05-01-2023 12:46 via retailgazette.co.uk
  // Noughties fashion stapes will drive top young fashion trends among 20-somthings, says Asos
  // Over two-thirds of those between 20 and 29 plan to spend the same or more on clothes this year as they did in 2022Fashion staples that defined the noughties are set to make a comeback this year among consumers aged between 20 and 29-years-old.
  Asos design experts have predicted ballet attire and the resurgence of denim will drive the top young fashion trends this year.
  Research by the online fashion
  
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• Victoria’s Secret CEO to step down after 8 months

  05-01-2023 11:57 via retailgazette.co.uk
  // Victoria’s Secret CEO to exit after just eight months in the role
  // Amy Hauk is expected to depart on March 31Victoria’s Secret chief executive Amy Hauk is set to resign after just eight months into her role.
  Hauk is expected to depart from the lingerie retailer on March 31, as executive Martin Walters is expected to take on her role.
  She joined L Brands in 2008 and became CEO of the company’s Pink apparel brand in 2018, before taking on the role of Victoria’s Secret
  
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• Cold snap boosts Next’s pre-Christmas sales but chain warns of price rises

  05-01-2023 11:48
  Retailer remains ‘cautious’ about 2023 despite better-than-expected data for last nine weeks of 2022Next has raised its profit forecasts for the year by £20m after better-than-expected sales in the run-up to Christmas, but said it remained “cautious” about the year ahead and warned more price rises were coming. The fashion and home retailer said sales of full-price items had risen by 4.8% in the nine weeks to 30 December, which was well above the 2% fall predicted a
  
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• Cold snap boosts Next’s pre-Christmas sales but chain warns about price rises

  05-01-2023 11:48
  Retailer reports much better than expected data in December but remains ‘cautious’ about 2023 Next has upped profit forecasts for the year by £20m after better sales than expected in the run-up to Christmas, but said it remained “cautious” about the year ahead and warned more price rises were coming. The fashion and home retailer said sales of full-price items had risen by 4.8% in the nine weeks to 30 December, well above predictions of a 2% fall, delivering £
  
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• Aldi Specialbuys cancelled due to global shipping disruptions

  05-01-2023 11:19 via retailgazette.co.uk
  // Aldi has delayed one and cancelled eight of its Specialbuys products
  // The value grocer said global shipping disruptions had held up the delivery of the certain itemsAldi has been forced to delay one and cancel eight of its Specialbuys products due to supply chain issues.
  The value grocer apologised to shoppers citing “global shipping disruptions” among the “many reasons” for the cancellation of some items.
  Aldi’s middle aisle Specialbuys, which go on sale every
  
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• Pret A Manger expands value range as cost-of-living crisis continues

  05-01-2023 11:15 via retailgazette.co.uk
  // Pret is launching new initiatives this year to help customers spend less as the cost-of-living crisis continues
  // Following a successful trial, the business is expanding its ‘Made Simple’ range, with prices starting at £2.99Pret A Manger has expanded its ‘Made Simple’  value range and unveiled a brand new savings deal in a bid to help customers spend less as the cost-of-living crisis continues.
  The high street chain is expanding its value range – Made
  
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• Fred Perry drops indie stockists as it reviews distribution network

  05-01-2023 11:12 via retailgazette.co.uk
  // Fred Perry has dropped some of its independent wholesale accounts as it reviews stockists
  // The retailer said it has “increased its ambition and expectation” of stockistsFred Perry has dropped some of its independent wholesale accounts as it reassesses its distribution network.
  The British heritage retailer said it was reviewing stockists as part of its strategy to further elevate the brand experience, Drapers reports.
  The business said it has “increased its ambition a
  
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• Amazon UK workers to strike for first time over pay

  05-01-2023 10:53 via retailgazette.co.uk
  // Amazon UK staff to strike for the first time on 25 January
  // Members of the GMB union at a warehouse in Coventry are set to walk outAmazon UK workers are set to strike for the first time as part of a dispute over better pay.
  Members of the GMB union at a warehouse in Coventry are set to walk out on 25 January.
  “GMB urges Amazon UK bosses to give workers a proper pay rise and avoid industrial action altogether,” the union’s senior organiser Amanda Gearing said.
  “They&r
  
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• Amazon to axe over 18,000 jobs in a bid to cut costs, CEO says

  05-01-2023 09:43 via retailgazette.co.uk
  // Amazon plans to cut more than 18,000 jobs, the largest number in its history, as it battles to save costs
  // Employees affected by the cuts are expected to be told by 18 JanuaryAmazon is set to cut over 18,000 jobs from its workforce – the largest set of layoffs in the US tech giant’s history, citing economic uncertainty.
  The online giant which employs 1.5 million people globally, did not say which countries the job cuts would be in, but confirmed they would include Europe.
  Chief
  
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• PM Rishi Sunak vows to halve inflation in 2023

  05-01-2023 09:39 via retailgazette.co.uk
  // PM Rishi Sunak has vowed to slash inflation in half this year
  // Sunak also pledged to grow the economy and reduce national debtsPrime minister Rishi Sunak has pledged to halve inflation in 2023 during his first major speech of the year.
  Sunak outlined five key priorities on Wednesday including reducing debts and supporting people with the cost of living.
  Speaking yesterday, Sunak said he plans to slash the UK’s rate of inflation from its current rate of 10.7% to 5%, as well as return t
  
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• Greggs sales jump 23% despite strikes and snow

  05-01-2023 09:26 via retailgazette.co.uk
  // Greggs sees sales jump 23% to £1.51bn in 2022 on the back of expansion and a return of shoppers and workers to high streets.
  // The business now anticipates full-year 2022 results in line with its expectationsGreggs has revealed its sales surged by nearly a quarter over 2022 as it added around 150 shops to its growing retail empire.
  The high-street food chain, which opened 186 new shops in 2022, said total sales rose 23% over the year to hit £1.51 billion, up from £1.23
  
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• B&M lifts profit outlook as sales rise in Christmas quarter

  05-01-2023 09:14 via retailgazette.co.uk
  // B&M reports strong ‘Golden Quarter’ sales over the all-important Christmas trading period
  // The retailer said strong demand for non-grocery products helped lift margins as it posted a 12% jump in quarterly revenue to £1.56 billionB&M saw its UK like-for-like sales grow 6.4% in its key Christmas quarter, showing that shoppers sought out value options as they grappled with the cost-of-living crisis.
  The value retailer issued a third-quarter trading update for the peri
  
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• Next boosts profit guidance after beating Christmas forecasts

  05-01-2023 08:56
  UK retailer’s shares jump as it says cost inflation expected to peak in 2023
  
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• Christmas sales at Next outstrip expectations

  05-01-2023 08:56
  Retailer says cold December weather helped during key season
  
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• B&M upgrades forecast after strong December

  05-01-2023 08:56
  Discount retailer to pay £200mn special dividend after posting higher sales over Christmas
  
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• Cold snap boosts pre-Christmas sales at Next

  05-01-2023 08:47
  Retailer reports much better than expected data in December but remains ‘cautious’ about 2023Next has upped profit forecasts for the year by £20m after better sales than expected in the run-up to Christmas, but said it remained “cautious” about the year ahead.The fashion and home retailer said sales had risen by 4.8% in the nine weeks to 30 December, well above predictions of a 2% fall, delivering £66m more sales than expected. Continue reading...
  
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• As Wilko secures emergency funding, what options do retailers in distress have?

  05-01-2023 08:45 via retailgazette.co.uk
  Discount retailer Wilko yesterday secured emergency funding to continue trading after an “incredibly difficult period”.
  Hilco, an investor specialising in distress situation that also owns Homebase and Cath Hidston, provided a £40m asset-based credit facility.
  According to documents filed at Companies House, Hilco has been given security over much of Wilko’s intellectual property, including its logo, marketing slogans and various own-label product names.
  The retailer, whi
  
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• Next raises profit outlook after strong Christmas sales

  05-01-2023 08:28 via retailgazette.co.uk
  // Next says sales in the Christmas period have been better than it anticipated
  // The retailer has increased its pre-tax profit guidance for the full year by +£20m to £860mNext has raised its profit forecast after the fashion retailer thrived during the Christmas shopping season despite the UK’s ongoing cost-of-living crisis.
  Next said it now expects full-year pretax profit of £860 million, up from a previous forecast of £840 million and said this forecast is based
  
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• Amazon plans to cut 18,000 jobs to rein in costs

  05-01-2023 03:52
  ‘Difficult’ reductions will hit ecommerce company’s online stores business, chief executive Andy Jassy says
  
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• Wilko secures £40 million funding from Hilco

  05-01-2023 01:00 via theretailbulletin.com
  Wilko has secured a £40 million lifeline from restructuring specialist Hilco. The discount retailer has agreed the two-year credit facility after falling to a £36.8 million... View Article
  
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• Victoria’s Secret CEO to exit after just eight months in the role

  05-01-2023 01:00 via theretailbulletin.com
  Victoria’s Secret & Co has confirmed Amy Hauk will be stepping down from her role as CEO of Victoria’s Secret and Pink leaving Martin Waters at... View Article
  
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• Trouva acquired by Re:store

  05-01-2023 01:00 via theretailbulletin.com
  Online homewares platform Trouva has been acquired by Re:store. Bought by collapsed furniture retailer Made in May last year, Trouva currently partners with over 650 independent... View Article
  
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• Tesco introduces new price lock on over 1,000 products

  05-01-2023 01:00 via theretailbulletin.com
  Tesco is locking the prices on over 1,000 products until Easter as it looks to help customers save money during the cost-of-living crisis. In addition to... View Article
  
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• Next posts better than expected Christmas performance

  05-01-2023 01:00 via theretailbulletin.com
  Next has posted better than expected full price sales in the nine weeks to 30 December with a year-on-year uplift of 4.8%. This was around £66... View Article
  
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• Greggs boosted by strong fourth quarter trading

  05-01-2023 01:00 via theretailbulletin.com
  Greggs has posted a strong uplift in fourth quarter sales despite the impact of bad weather and transport strikes in the period. In the three months... View Article
  
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• Boots deliver strong Christmas and record breaking Black Friday

  05-01-2023 01:00 via theretailbulletin.com
  Boots has delivered an increase in retail sales and market share for the seventh consecutive quarter. The high street health and beauty giant achieved a record-breaking... View Article
  
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• B&M posts strong trading in run-up to Christmas

  05-01-2023 01:00 via theretailbulletin.com
  B&M has seen its third quarter revenue increase by 12.3% year-on-year to £1.56 billion following strong trading in the run-up to Christmas.  In the 13 weeks to... View Article
  
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• Amazon UK workers set to strike for first time in pay dispute

  05-01-2023 01:00 via theretailbulletin.com
  Hundreds of Amazon workers at the fulfilment centre have voted to walk out in anger over the company’s 50 pence per hour pay offer. This is... View Article
  
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• Amazon CEO says job cuts to exceed 18,000 roles

  05-01-2023 01:00 via theretailbulletin.com
  Amazon plans to cut more than 18,000 jobs, the largest number in the firm’s history, as it battles to save costs. The online giant which employs... View Article
  
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• Aldi extends partnership with Company Shop Group in a bid to reduce food waste

  05-01-2023 01:00 via theretailbulletin.com
  Aldi has extended its partnership with Company Shop Group in a scheme where excess stock from its regional distribution centres is made available to Community Shop... View Article
  
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