Retail news

• Fortnum & Mason back in profit as customers return to stores

  16-01-2023 17:57
  Luxury retailer sees higher costs but expects a boost from coronation of Charles III
  
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• Reiss forecasts record profit as Christmas sales soar 20%

  16-01-2023 16:47 via retailgazette.co.uk
  // Reiss sales skyrocket 20.3% in the nine weeks to 7 January
  // The premium retailer expects to deliver a record profit and for full year sales to surge 25%Reiss expects to deliver a record profit as Christmas sales surged 20.3%.
  The premium retailer posted a 20.3% year on year sales rise in the nine weeks to 7 January.
  Online sales skyrocketed 22.3% in the period while store sales soared 18.5%.
  The retailer now expects to deliver a record profit with full year sales forecasted to surge 25
  
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• Matalan founder John Hargreaves blasts equity deal for piling on debt

  16-01-2023 15:46 via retailgazette.co.uk
  // Matalan founder and chair John Hargreaves criticises the retailer’s debt and equity deal
  // It had been seeking a £350m credit bail out and has now reached deal that will include a “significant reduction” in gross debtMatalan founder and chairman John Hargreaves has expressed his “disappointment” at the retailer’s debt and equity deal, criticising it for piling on further debt.
  The fashion retailer has been acquired by a group of investors includ
  
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• Fortnum & Mason hails ‘successful Christmas’ as it returns to profit

  16-01-2023 15:34 via retailgazette.co.uk
  // Fortnum & Mason records “successful Christmas” as sales rise across all channels
  // The retailer saw sales rise 8% in the five-week period to 25 December 2022Fortnum & Mason has recorded a “successful Christmas” as customers shunned inflationary pressures to shop at the beloved department store.
  The retailer saw total sales rise 8% in the five-week period to 25 December 2022, and up 29% from 2019.
  Sales were up 35% year-on-year, with the flagship store on Londo
  
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• Revolution Beauty inflated sales and doled out personal loans, probe finds

  16-01-2023 15:28 via retailgazette.co.uk
  // Revolution Beauty Group inflated its sales by £9 million to meet targets, an accounting probe has found
  // An investigation was launched after its auditor flagged “serious concerns” over the retailer’s accountsAn accounting probe into Revolution Beauty Group’s accounts found it had inflated sales by £9 million to meet its annual targets.
  The independent investigation by Macfarlanes and Forensic Risk Alliance found several concerns with the group’s acc
  
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• HMV returns to profit as vinyl overtakes CD sales

  16-01-2023 13:28 via retailgazette.co.uk
  // HMV returns to profit for the first time since it was rescued from administration in 2019 as vinyl sales surge
  // Pre-tax profits topped £1.97 million from a loss of £243,000HMV has returned to profit for the first time since it was bought out of administration in 2019 as shoppers snap up a record amount of vinyl albums.
  HMV and Fopp owner Sunrise Records and Entertainment posted pre-tax profits jumped to £1.97 million for the year ending 30 May 2022 from a loss of &pou
  
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• Wilko to close toy departments as it focuses on garden & home

  16-01-2023 13:25 via retailgazette.co.uk
  // Wilko tells suppliers it is set to close its toy department
  // Earlier this month the business secured a £40m funding lifeline from Hilco UKWilko is to stop stocking toys across its stores, saying it will instead focus on its heritage of selling garden and household goods, toyworld mag has reported.
  The family-owned business informed suppliers in a letter while offering some reassurances that it will offer seasonal/outdoor toys at relevant times of the year.
  The news comes after Wilko s
  
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• Smart shopping trolleys will enhance your business and promote customer retention

  16-01-2023 13:00 via retailgazette.co.uk
  With inflation reaching an all-time high, the price battles between supermarkets are raging. Everyone wants to achieve high customer retention rates, solve the digitalisation dilemma, and especially increase revenue. Retailers have realised, that smart shopping trolleys can be the solution to this problem.
  Here is a closer look at the latest developments in smart trolleys and their promises.
  Expensive investments
  While some retailers seem to put their hope into camera-based solutions t
  
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• Currys extends partnership with Vodafone to ‘improve customer experience’

  16-01-2023 12:57 via retailgazette.co.uk
  // Currys extends partnership with Vodafone as it focuses on “successfully driving customer experience improvements”
  // The new deal means Currys customers will benefit from expert advice on mobile plans, SIM only deals, home broadband, mobile broadbandCurrys has extended its partnership with Vodafone as it focuses on “successfully driving customer experience improvements, innovation, and loyalty”.
  The deal will support Currys’ mobile, SIM only and broadband transfo
  
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• On running to open first UK flagship on Regent Street

  16-01-2023 12:32 via retailgazette.co.uk
  // Swiss running specialist On is set to open its first UK flagship next month
  // The store will serve as a seasonal hub for the local running community while boating the latest retail technologyOn is opening its first standalone European store next month in London’s West End.
  The Swiss running retailer will occupy a three-story, 860 square feet store, located at 169-173 Regent Street, which will open on February 10.
  The store will serve as a seasonal hub for the local running community wi
  
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• Landsec lines up ex-Debenhams chair Sir Ian Cheshire as next chairman

  16-01-2023 10:47 via retailgazette.co.uk
  // Landsec eyes former Debenhams chair Sir Ian Cheshire as new chairman
  // The property giant is looking to replace Cressida Hogg as soon as this monthLandsec has lined up the former Debenhams chair Sir Ian Cheshire as its next chairman.
  The property giant, which owns nearly 50% of Bluewater shopping centre, is looking to replace Cressida Hogg as soon as this month, Sky News reported.
  Cheshire has an extensive retail background, having run major retailers during his career, including Kingfisher,
  
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• Lush posts recording breaking December sales with highest trading month ever

  16-01-2023 10:37 via retailgazette.co.uk
  // Lush posts its highest-ever trading month in December
  // Sales reached £40.5m in December – 13.1% higher than 2021 and 11% higher than 2019
  Lush reported its highest-ever trading month in December with sales of £40.5m, exceeding its forecasts and beating pre-pandemic sales.
  Sales at the bath and body care retailer were 13.1% higher than 2021 and up 11% versus pre-pandemic sales in 2019.
  Customers were excited to get back to the high streets as physical retail sales soared 18
  
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• M&S to open 20 UK new stores and create 3,400 jobs

  16-01-2023 10:32
  Retailer is to also make a ‘substantial investment in new digital services’
  
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• M&S to open 20 new UK stores and create 3,400 jobs

  16-01-2023 10:32
  Retailer will accelerate plan to shut older shops and increase number of food halls
  
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• Marks & Spencer to open 20 large shops, creating 3,400 jobs

  16-01-2023 10:06
  Retail chain to invest £480m in rejuvenate its presence on the high streetMarks & Spencer is to open 20 large stores and create 3,400 jobs as part of a £500m plan to rejuvenate its presence on the high street after bumper Christmas trading.The retail chain – which in October said it would close 67 of its “lower productivity” sites that sold clothes and homewares, about a quarter of its estate of bigger stores – said it planned to open the 20 new “big
  
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• FatFace celebrates bumper Christmas as shoppers returned to stores

  16-01-2023 10:06 via retailgazette.co.uk
  // Sales rise 34% versus last year at Fatface with all channels trading positively
  // Resurgence in store footfall contributed to positive store performance of 8%Fatface has seen a boost in sales in both the second half of the year and over the all-important Christmas trading period.
  Revenue at the fashion retailer for the 26 weeks to November rose by 9% year-on-year to £136 million, boosted by “bumper” Christmas trading.
  Sales increased by 34% year-on-year in the five weeks to
  
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• Sainsbury’s and Just Eat team up for rapid grocery delivery

  16-01-2023 08:48 via retailgazette.co.uk
  // Sainsbury’s signs partnership with food delivery app Just Eat
  // Stores in London, Edinburgh and Bristol will provide the service from the end of FebruaryJust Eat has launched a new partnership with Sainsbury’s, marking the platform’s second tie-up with one of the UK’s traditional grocers.
  The partnership will launch with more than 175 stores by the end of February in locations including London, Edinburgh and Bristol, with plans to roll out to many more cities acr
  
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• M&S to open 20 new shops across the UK creating 3,400 jobs

  16-01-2023 08:37 via retailgazette.co.uk
  // M&S unveils almost £500m investment in bigger, better stores across the UK- creating over 3,400 new jobs
  // The retailer has a pipeline of 20 new bigger, better stores already planned for 23/24 financial yearM&S has unveiled its £480m investment in bigger, better stores across the UK, already identifying a pipeline of 20 new stores to be opened in the next financial year.
  The department store retailer’s investment will create over 3,400 new jobs across
  
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• M&S invests £480m in ‘bigger, better stores’ with 20 new shops to open

  16-01-2023 08:37 via retailgazette.co.uk
  // M&S unveils almost £500m investment in bigger, better stores across the UK, creating over 3,400 new jobs
  // The retailer has a pipeline of 20 new bigger, better stores already planned for 23/24 financial yearM&S will invest £480m in bigger, better stores across the UK, with 20 new stores to be opened in the next financial year.
  The department store retailer’s investment will create over 3,400 new jobs across the country and aims to create a fit for the
  
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• Sainsbury’s signs deal with food delivery app Just Eat

  16-01-2023 01:01
  Home shopping partnership comes despite demand for fast delivery services slowing amid cost of living crisis Sainsbury’s has joined the rush to provide almost-instant home shopping by signing a deal with the food delivery app Just Eat to offer the rapid distribution of groceries from 175 stores.Under the deal, outlets in London, Edinburgh and Bristol will provide the service from the end of February offering a choice of 3,000 items delivered in less than 30 minutes. Sainsbury’s alrea
  
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• Wilko to close toy departments

  16-01-2023 01:00 via theretailbulletin.com
  High street retailer Wilko informed suppliers in a letter, saying it would focus on its heritage of selling garden and household goods Wilko has announced announced... View Article
  
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• Vodafone and Currys agree extension of exclusive multi-year partnership

  16-01-2023 01:00 via theretailbulletin.com
  Vodafone and Currys have signed a new deal, extending their partnership with a renewed focus on growing beyond mobile to include home broadband and connected devices... View Article
  
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• Stronger footfall at FatFace leads to bumper Christmas sales

  16-01-2023 01:00 via theretailbulletin.com
  Lifestyle fashion retailer FatFace has enjoyed strong Christmas trading with revenue up 34% year-on-year in the five weeks to 7 January. Like-for-like sales growth was strong... View Article
  
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• Stetson chooses Seven Dials for first UK flagship

  16-01-2023 01:00 via theretailbulletin.com
  Heritage hat brand Stetson has chosen London’s Seven Dials as the location for its first UK flagship store. Located at 58 Neal Street, the new 1,165... View Article
  
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• Sportsshoes.com celebrates 40th anniversary by offsetting 40 years of emissions

  16-01-2023 01:00 via theretailbulletin.com
  Online British sportswear and outdoor retailer Sportsshoes.com has offset all of the carbon emissions it has generated since the company’s launch in 1982. This news coincides... View Article
  
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• Matalan founder set to lose control of retailer

  16-01-2023 01:00 via theretailbulletin.com
  Matalan founder John Hargreaves is set to lose control of the fashion and homewares retailer. According to a report by This is Money, Invesco, Man GLG,... View Article
  
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• Marks & Spencer’s new shops plan to create 3,400 jobs as part of £480m investment

  16-01-2023 01:00 via theretailbulletin.com
  M&S is opening new shops designed ‘with families in mind’ across the UK as part of a huge investment which could transform abandoned High Street stores... View Article
  
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• Lush posts best ever trading month in December

  16-01-2023 01:00 via theretailbulletin.com
  Lush experienced its best trading month of all time in December with sales in the UK and Ireland exceeding expectations to reach £40.5 million. Sales were... View Article
  
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• L’Oreal invests in digital temporary tattoo device maker

  16-01-2023 01:00 via theretailbulletin.com
  L’Oréal has made a minority investment in micro-printing startup Prinker Korea through its corporate venture fund Bold Business Opportunities for L’Oreal Development. Founded in 2015, Prinker... View Article
  
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• Liverpool ONE brightens Blue Monday with hundreds of blooms

  16-01-2023 01:00 via theretailbulletin.com
  Liverpool ONE brightens Blue Monday with hundreds of blooms to help put a smile on visitors’ faces. Dubbed as the ‘most depressing day of the year’... View Article
  
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• Just Eat and Sainsbury’s agree new rapid grocery delivery partnership

  16-01-2023 01:00 via theretailbulletin.com
  The Just Eat food delivery app has agreed a new partnership with Sainsbury’s to mark its second tie-up with one of the UK’s ‘Big Four’ grocers.... View Article
  
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• HMV back on track as company turns a profit for the first time in four years

  16-01-2023 01:00 via theretailbulletin.com
  High street retailer HMV has returned to profit for the first time since it was bought out of administration in 2019 as shoppers snap up a... View Article
  
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• Harrods trials H Beauty recycling scheme

  16-01-2023 01:00 via theretailbulletin.com
  Harrods is trialling a new scheme to help H Beauty customers at its Milton Keynes store to recycle their beauty cosmetics products. Lasting for three months,... View Article
  
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• Fruugo posts year of strong growth

  16-01-2023 01:00 via theretailbulletin.com
  Online marketplace Fruugo has increased its full year revenue by 110% to £65 million after it benefited from growth in global cross-border ecommerce. The group grew... View Article
  
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