Retail news

• UK retail: barring humbug, Christmas sales have gloomier tale to tell

  12-01-2023 18:46
  Customers simply swallowed 2022’s inflation pill
  
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• Very warns of challenges for ‘all retailers’ despite strong Christmas sales

  12-01-2023 17:10 via retailgazette.co.uk
  // Very sales jumped 2.2% in the seven weeks to 23 December
  // The Very Group boss Lionel Desclée warns of challenges for “all retailers” in the year aheadVery sales surged 2.2% over the key Christmas period as shoppers snapped up toys and beauty products.
  The online fashion retailer posted a 2.2% rise in sales in the seven weeks to 23 December compared to last year – and a 19.6% jump from the same period in 2019.
  Very said it was able to increase its share of the total
  
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• Very Group Christmas sales dip 1.3% despite strong toy sales

  12-01-2023 17:10 via retailgazette.co.uk
  // Very Group sales fell 1.3% year on year in the seven weeks to 23 December
  // The Very Group boss Lionel Desclée warns of challenges for “all retailers” in the year aheadVery Group sales dipped 1.3% over the key Christmas period despite strong demand for toys and beauty products.
  Sales at core group Very edged up 2.2% in the seven weeks to 23 December, or up 19.6% against pre-pandemic levels, however when legacy Littlewoods is included, group retail sales fell into nega
  
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• Analysis: What the hell is going on at Amazon?

  12-01-2023 17:00 via retailgazette.co.uk
  It’s testament to the tough conditions that companies find themselves in when online retail giant Amazon is also struggling. Like much of the ecommerce space, the US retailer has had a difficult previous 12 months, with shares tumbling over 50%.READ THE FULL STORY HERE
  Click here to sign up to Retail Gazette‘s free daily email newsletter
  
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• UK energy bills forecast to fall further in July; US inflation rate falls – as it happened

  12-01-2023 16:49
  Investec predict UK energy bills will average £2,500/year in the second half of 2023 year, as US consumer price index falls to 6.5% in year to DecemberUS prices dropped in December for first time since May 2020 as inflation rate fell to 6.5%British shoppers traded up to top-tier lines during the holiday season, Marks & Spencer CEO Stuart Machin says.Machin added that M&S also saw a big increase in demand for everyday value items, saying (via Reuters):“We planned for that (str
  
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• UK energy bills forecast to fall further in July; US inflation rate drops – as it happened

  12-01-2023 16:49
  Investec predict UK energy bills will average £2,500/year in the second half of 2023 year, as US consumer price index falls to 6.5% in year to DecemberUS prices dropped in December for first time since May 2020 as inflation rate fell to 6.5%British shoppers traded up to top-tier lines during the holiday season, Marks & Spencer CEO Stuart Machin says.Machin added that M&S also saw a big increase in demand for everyday value items, saying (via Reuters):“We planned for that (str
  
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• Aldi to scrap online delivery of Specialbuys and alcohol

  12-01-2023 16:07 via retailgazette.co.uk
  // Aldi to axe home delivery of its Specialbuys and booze
  // Once the delivery of these items has been stopped, Aldi’s only online service will be its click-and-collect for foodAldi will scrap home delivery of its Specialbuys and alcohol as it focuses on extending its food click-and-collect offering.
  The grocer said its wine and spirits delivery, which first launched in 2015, will no longer be available as of later this month.
  Customers can continue to purchase Specialbuys online unti
  
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• Was there a Christmas miracle on the high street? Not quite

  12-01-2023 15:54
  It was a mixed bag as many big retailers remained strong but some stragglers slipped further behindDid a Christmas miracle take place? Did the great British consumer defy recession, inflation and energy bills?Well, there’s a grain of truth in the gloom-defying narrative, thus the liberal use by big-name retailers of phrases such as “confirm guidance” and “at the upper end of guidance” when forecasting their full-year profits. But, after a week of trading updates, th
  
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• Ted Baker head office jobs at risk amid strategic review

  12-01-2023 15:07 via retailgazette.co.uk
  // Ted Baker is conducting a strategic review of its head office staff in London
  // The fashion retailer was acquired by US conglomerate Authentic Brands last OctoberTed Baker is conducting a strategic review of its head office staff, putting 30 roles at risk at the business, Drapers has reported.
  Jobs at risk include those across departments including sales and merchandising.
  Back in October the fashion retailer was acquired by US conglomerate Authentic Brands Group (AGB) which owns Reebok, For
  
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• M&S clothing sales hit Christmas high after years of pain

  12-01-2023 14:56
  Retailer reports largest share of clothing market in eight years
  
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• UK energy bills forecast to fall further in July; US inflation rate falls – business live

  12-01-2023 14:52
  Investec predict UK energy bills will average £2,500/year in the second half of 2023 year, as US consumer price index falls to 6.5% in year to DecemberM&S enjoys a bumper Christmas with best ever food salesBritish shoppers traded up to top-tier lines during the holiday season, Marks & Spencer CEO Stuart Machin says.Machin added that M&S also saw a big increase in demand for everyday value items, saying (via Reuters):“We planned for that (strong demand for top tier) and we
  
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• Tesco CEO: Shoppers continue to spend post-Christmas and end of inflation in sight

  12-01-2023 14:32 via retailgazette.co.uk
  // Tesco boss Ken Murphy remains upbeat on trading as customers prove to be resilient in the face of inflation
  // Murphy said he “thinks and hopes” inflation will ease in the second half of the yearTesco boss Ken Murphy has revealed that the consumer has remained resilient post-Christmas and is spending as normal in January.
  Quashing fears of a slowdown in consumer spending after a decent Christmas across retail, Murphy revealed that performance had been “pretty good” pos
  
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• Bananas, chocolate eggs and alcohol-free drinks: Sainsbury’s 2022 in review

  12-01-2023 14:30 via retailgazette.co.uk
  // READ MORE ON GROCERY GAZETTESainsbury’s has revealed its top food trends during 2022, with bananas, chocolate eggs and alcohol-free beverages taking centre stage.
  Using data from 17.6 million Nectar customers, the retailer – which upgraded its profits following a bumper Christmas earlier this week – has revealed which products were the most popular with shoppers over the past year.READ MORE ON GROCERY GAZETTESubscribe to Retail Gazette for free
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• Energy bills forecast to fall further in July after gas prices drop – business live

  12-01-2023 13:57
  Investec predict UK energy bills will average £2,500/year in the second half of 2023 year, as Tesco, Marks & Spencer, Asos and Halfords release Christmas trading figures M&S enjoys a bumper Christmas with best ever food salesBritish shoppers traded up to top-tier lines during the holiday season, Marks & Spencer CEO Stuart Machin says.Machin added that M&S also saw a big increase in demand for everyday value items, saying (via Reuters):“We planned for that (strong dema
  
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• Halfords shares tumble after shortage of mechanics hits profits

  12-01-2023 13:41
  Car parts to bicycles retailer urges government to do more to encourage people to train as techniciansHalfords has said difficulties in hiring enough car mechanics was partly to blame for a profits warning.The car parts-to-bicycles retailer said a lack of technicians meant sales at its Autocentre motor servicing garages were focused on less-profitable services and this was having an effect on overall profitability. It called on the government to do more to encourage people to train as mechanics.
  
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• M&S to use calendar events such as Easter & Valentines to maintain positives sales

  12-01-2023 12:47 via retailgazette.co.uk
  // M&S CEO Stuart Machin says the retailer will use events across the year such as Easter and Valentine’s day to maintain strong food & clothing sales
  // Amid the rising cost-of-living, he said M&S customers are slightly more insulated up against these headwindsMarks & Spencer posted record food sales and its highest clothing and home market share for seven years, despite increasing economic pressure on consumers amid the cost-of-living crisis.
  Discussing the resu
  
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• M&S backs big events like Easter and Valentines to drive sales

  12-01-2023 12:47 via retailgazette.co.uk
  // M&S CEO Stuart Machin says the retailer will use events across the year such as Easter and Valentine’s day to maintain strong food & clothing sales
  // Machin admits that M&S customers are slightly more insulated up against these headwinds and are planning to celebrate across the yearM&S chief executive Stuart Machin is backing big events like Valentine’s Day and Mother’s Day to help drive sales momentum after a bumper Christmas.
  The retailer posted record foo
  
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• Halfords warns on profits after staff shortages take toll

  12-01-2023 12:29
  Cash-strapped shoppers have been buying fewer bicycles
  
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• Iceland extends £1 price freeze throughout 2023 as inflation bites

  12-01-2023 11:29 via retailgazette.co.uk
  // Iceland extends £1 price freeze by another year to continue supporting shoppers during inflation crisis
  // The grocer will keep the price of over 600 £1 or less items as close to £1 and under as possibleIceland has extended its £1 price freeze across hundreds of frozen products by another year as it looks to support customers during the cost-of-living crisis.
  The grocer said it will be keeping the price of over 600 £1 or less items as close to £1 and under
  
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• N Brown sales drop 7.6% over key Christmas period

  12-01-2023 11:28 via retailgazette.co.uk
  // N Brown sales slip 7.6% in the 18 weeks to the 31 December as cost of living hits
  // However, the group said performance over the period was “solid” and in line with expectationsSimply Be owner N Brown’s sales fell 7.6% in the crucial golden quarter amid the cost-of-living squeeze.
  Sales dropped to £249.2 million in the 18 weeks to the 31 December.
  Despite a tougher trading environment, it said performance over the period was “solid” and in line with Q
  
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• Poundland owner Pepco enjoys ‘very successful Christmas’

  12-01-2023 11:24 via retailgazette.co.uk
  // Poundland posts 4.4% like-for-like revenue growth, with revenues at Pepco revenue up 19.7% on a like-for-like basis.
  // The group performed well in Western Europe, especially in Italy and Spain and is now preparing to launch in Portugal in spring 2023Poundland owner Pepco Group has delivered record trading for the Christmas period as revenues hit £1.4m in its first quarter.
  In the three months to 31 December, the value group, which also owns Dealz said group like-for-like sales cli
  
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• Not on the High Street to make job cuts as online demand drops

  12-01-2023 10:39 via retailgazette.co.uk
  // Not on the High Street to make job cuts as CEO addresses challenging market conditions
  // The online marketplace has highlighted a challenging market for ecommerce businessesNot on the High Street is looking to make some redundancies as the demand for online shopping continues to decline.
  The online marketplace has warned staff that it plans to cut jobs, particularly as consumers are more conscious of spending amid the cost-of-living crisis.
  Not on the High Street CEO Leanne Rothwell wrote in
  
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• Halfords warns on profits as labour shortage hurts growth

  12-01-2023 09:55 via retailgazette.co.uk
  // Halfords cuts its full-year profit guidance amid weakness in the consumer tyre market and labour market issues.
  // The business warned its annual profits could drop from between £5m and £25m despite posting strong revenue growth over ChristmasHalfords has lowered its full-year profit guidance amid weakness in the consumer tyre market and labour market issues.
  The car parts and bicycle retailer said it now expects underlying pre-tax profit for FY23 of between £50m and £
  
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• M&S enjoys a bumper Christmas with best ever food sales

  12-01-2023 09:32
  Chain recorded biggest share of clothing and homewares market in seven years as Tesco reports festive bonanzaMarks & Spencer took its biggest share of the clothing and homewares market in seven years and the largest slice of the food market ever over Christmas, while Tesco enjoyed its strongest-ever day of sales on 23 December.M&S said sales of fashion and homewares rose 8.8% in the three months to 31 December as it said shoppers had exploited its “click & collect” servic
  
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• UK inflation may not have peaked, warns Tesco chief

  12-01-2023 09:23
  Supermarket chain reports 7% rise in UK sales as trading at M&S also improves
  
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• Tesco delivers Christmas sales growth but keeps profit forecast

  12-01-2023 09:23
  Supermarket chain reports 7% rise in UK sales as Marks and Spencer’s trading also improves
  
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• M&S food and clothing sales soar over Christmas

  12-01-2023 09:16 via retailgazette.co.uk
  // M&S saw a record Christmas trading day on December 23, with £80m coming through the tills
  // The business maintains its position as the nation’s leading turkey retailer, a title it has now held for three years
  Marks & Spencer has hailed strong Christmas trading, posting record food sales and its highest clothing and home market share for seven years.
  The department store retailer saw a 6.3% rise in like-for-like sales across its food halls in the 13 weeks to December
  
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• Asos to close down offices and storage warehouses as sales slip 8%

  12-01-2023 08:57 via retailgazette.co.uk
  // Asos plans to cut office space and close down storage warehouses after UK sales dip 8%
  // Asos said it was “confident” that it would see “significant improvement in profitability” in the second half of the 2023 financial year.Asos’ UK sales slipped 8% year on year in the four months into December 31, with the online fashion retailer blaming “weak consumer sentiment.”
  As a result, the business said it had implemented a £300 million package of &ld
  
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• Christmas sales rise at Tesco and M&S, but Asos sales drop – business live

  12-01-2023 08:52
  Rolling coverage of the latest economic and financial news, as Tesco, Marks & Spencer, Asos and Halfords update the City on how they fared over ChristmasElon Musk breaks world record for largest loss of personal fortuneSales of turkeys and menswear helped Marks & Spencer to report impressive sales figures today, says Victoria Scholar, head of investment at interactive investor:“Marks & Spencer reported like-for-like Christmas food sales up 6.3% while clothing and home sales gre
  
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• Tesco enjoys bumper Christmas sales as it maintains profit outlook

  12-01-2023 08:39 via retailgazette.co.uk
  // Tesco posts Christmas sales growth in line with market expectations and kept its full-year guidance unchanged
  //UK sales in the six weeks to January 7 grew by 7.2%Tesco enjoyed a bumper Christmas trading period in 2022 as revenues jumped 6.1% to £19.7bn in the UK and Ireland for the quarter to January 7.
  The UK’s biggest retailer told markets this morning that it is the only one of the major grocers to have grown its market share versus pre-pandemic levels over Christmas, claiming
  
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• Tesco enjoys bumper Christmas sales

  12-01-2023 08:39 via retailgazette.co.uk
  // Tesco posts Christmas sales growth in line with market expectations and kept its full-year guidance unchanged
  //UK sales in the six weeks to January 7 grew by 7.2%Tesco enjoyed a bumper Christmas trading period in 2022 as revenues jumped 6.1% to £19.7bn in the UK and Ireland for the quarter to January 7.
  The UK’s biggest retailer told markets this morning that it is the only one of the major grocers to have grown its market share versus pre-pandemic levels over Christmas, claiming
  
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• Virgin Wines posts half year revenue fall

  12-01-2023 01:00 via theretailbulletin.com
  Virgin Wines has posted a drop in half year revenue after trading was hit by a variety of issues. In the six months to 31 December,... View Article
  
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• Very delivers strong Christmas performance

  12-01-2023 01:00 via theretailbulletin.com
  Very has posted a 2.2% uplift in retail sales in the lead-up to Christmas after trade was boosted by the popularity of games consoles and Ninja... View Article
  
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• Top eCommerce trends for 2023

  12-01-2023 01:00 via theretailbulletin.com
  Facing an economic downturn and reduced spending, 2022 was arguably one of the toughest years retail has ever faced. As the cost-of-living crisis continues, thoughts are... View Article
  
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• Tesco reports bumper Christmas sales

  12-01-2023 01:00 via theretailbulletin.com
  Tesco has posted bumper Christmas sales with group retail like-for-likes climbing by 7.9%. The supermarket attributed the strong performance to a focus on value and quality,... View Article
  
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• ProCook on track despite dip in revenue

  12-01-2023 01:00 via theretailbulletin.com
  Pro-Cook ‘s total revenue reached £22.4 million in its third quarter to mark a decline of 2.5%. However, excluding revenue from discontinued Amazon channels, total revenue... View Article
  
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• Pepco Group enjoys strong Christmas trading

  12-01-2023 01:00 via theretailbulletin.com
  Pepco Group, the owner of Pepco, Poundland and Dealz, has posted a 24% increase in group revenue to €1.65 billion in its first quarter. On a... View Article
  
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• Paperchase put up for sale again

  12-01-2023 01:00 via theretailbulletin.com
  The Paperchase greeting card and stationery retailer has been put up for sale just over four months after a change of ownership. The retailer was taken... View Article
  
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• Not on the High Street prepares to cut workforce as e-commerce boom dwindles

  12-01-2023 01:00 via theretailbulletin.com
  Online marketplace Not on the High Street is looking to make some redundancies as the demand for online shopping continues to decline. The retailer has warned... View Article
  
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• Marks & Spencer launches new clothing and home campaign

  12-01-2023 01:00 via theretailbulletin.com
  M&S is launching a new campaign for its clothing and home categories that aims to reaffirm its commitment to value. Called ‘Value You Can Trust’, the... View Article
  
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• Marks & Spencer hails strong Christmas trading

  12-01-2023 01:00 via theretailbulletin.com
  Marks & Spencer has posted a strong increase in food, clothing and home sales in the 13 weeks to 31 December. The company said its investment... View Article
  
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• Marks & Spencer hails festive sales surge

  12-01-2023 01:00 via theretailbulletin.com
  Marks & Spencer has posted a strong increase in food, clothing and home sales in the 13 weeks to 31 December. The company said its investment... View Article
  
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• Halfords shares tumble after technician shortage hits profits

  12-01-2023 01:00 via theretailbulletin.com
  Halfords has warned over profits in the face of worker shortages, sending shares down by more than a fifth in early trading. The motoring accessories and... View Article
  
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• ASOS posts decline in sales

  12-01-2023 01:00 via theretailbulletin.com
  ASOS has posted a further decline in sales after experiencing volatile trading in the four months to 31 December. Revenue fell by 4% in the period... View Article
  
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