Retail news

• Bed Bath & Beyond says it received default notice from JPMorgan

  26-01-2023 23:06
  US home goods retailer says it does not have enough cash to repay debts of more than $1bn owed to the bank
  
  Read more

• How much of Morrisons’ weak financial result was self-inflicted? | Nils Pratley

  26-01-2023 19:37
  
  The grocer’s buyout by a US private equity firm in late 2021 was spectacularly badly timedIt was a year of transition, said David Potts, chief executive of Morrisons, referring to the grocer’s £7bn takeover by the US private equity firm Clayton Dubilier & Rice in late 2021. He could equally have meant the other significant change: Morrisons transitioned from fourth largest supermarket chain in the UK before the buyout barons took control, to fifth.One can see in Thursday&rs
  
  Read more

• 3i: market discounts toppy valuation for European retail investment

  26-01-2023 18:05
  Shares in UK listed group increase 9% on Thursday
  
  Read more

• Asda puts 300 jobs at risk and 4,000 face pay cuts

  26-01-2023 17:51
  Supermarket announces changes to night shifts, in-store Post Office shops and pharmacies
  
  Read more

• Advertisement

• Morrisons reveals sales and profits dived in 2022 despite putting up prices

  26-01-2023 17:29
  
  Slide blamed on shoppers’ increasing pessimism amid rising living costs and political uncertaintyMorrisons has revealed its sales and profits fell last year even as it put prices up, blaming the slide on shoppers becoming “increasingly pessimistic” amid the rising cost of living and political uncertainty.The retailer, which lost its spot at the UK’s fourth largest supermarket to Aldi last year, said underlying profits fell 15% to £828m in the year to 30 October, as
  
  Read more

• Party City: volatile helium costs forces retailer to rethink its business

  26-01-2023 16:36
  Bondholders’ plan to swap debt for new equity will help insulate company from worst effects of price swings
  
  Read more

• Aldi bus takes customers from rival Big 4 grocers to its own stores

  26-01-2023 16:00 via retailgazette.co.uk
  
  // READ MORE ON GROCERY GAZETTEAldi has been giving free bus rides to customers shopping at its rivals Tesco, Sainsbury’s and Asda, taking them to the closest Aldi store.
  The discount grocers stunt took place last week in Ayesbury, Bucks and looked to take shoppers to ‘the cheapest store in town’, as it was crowned the UK’s cheapest supermarket in 2022 by consumer watchdog Which?
  Read more on Grocery GazetteSubscribe to Retail Gazette for free
  Sign up here 
  
  Read more

• Amazon opens another Fresh store in Monument

  26-01-2023 15:52 via retailgazette.co.uk
  
  Amazon has opened yet another Amazon Fresh grocery store in a busy week for the US retail giant.
  One of the company’s Fresh stores in Dalston was closed permanently after 18 months of operating, on Monday, before a new store was surprisingly opened in Croydon.
  An Amazon spokesperson told Charged that the company remained “committed to Amazon Fresh UK physical stores,” despite claims by The Telegraph in August that the operation was slowing down.READ THE FULL STORY HERE
  Cli
  
  Read more

• Advertisement

• Morrisons full-year profits and sales slump as Brits face inflation squeeze

  26-01-2023 15:51 via retailgazette.co.uk
  
  // Morrisons full-year profits and sales drop but expects adjusted EBITDA to come in at the top end of guidance
  // The grocer reported a 15% drop in full-year profits to £828m for the 52 weeks ending October 30, 2022Morrisons has recorded a drop in full-year profits and sales but expects adjusted EBITDA to come in at the top end of guidance in the third quarter.
  The grocer reported a 15% drop in full-year profits to £828m for the 52 weeks ending October 30, 2022.
  Total revenues,
  
  Read more

• Asda shake-up puts more than 300 jobs at risk

  26-01-2023 14:16
  
  Managerial roles mainly at risk as part of changes affecting night shifts, Post Office outlets and pharmaciesMore than 300 jobs at Asda are at risk and 4,300 of the supermarket’s staff will end up with a pay cut after a swathe of changes to night shifts, Post Office outlets and pharmacies to save costs.The supermarket chain said 211 night shift manager roles were going and a further 4,137 staff would lose out on premiums of at least £2.52 an hour for working nights as it switched the
  
  Read more

• Asos hires restructuring executive to join finance department

  26-01-2023 14:12 via retailgazette.co.uk
  
  // Asos appoints Scott Millar as senior restructuring executive to join its finance department
  // The retailer said Millar would become interim director of finance projectsAsos has hired a senior restructuring executive, Scott Millar, to join its finance department as seeks to strengthen its business.
  The online fashion retailer said Millar would become interim director of finance projects as it faces pressure from its lenders about the state of its balance sheet, Sky News reported.
  Millar was t
  
  Read more

• Asos hires restructuring executive to help turnaround the business

  26-01-2023 14:12 via retailgazette.co.uk
  
  // Asos appoints Scott Millar as senior restructuring executive to join its finance department
  // The retailer said Millar would become interim director of finance projectsAsos has hired a senior restructuring executive, Scott Millar, to join its finance department as seeks to strengthen its business.
  The online fashion retailer said Millar would become interim director of finance projects as it faces pressure from its lenders about the state of its balance sheet, Sky News reported.
  Millar was t
  
  Read more

• TK Maxx snaps up ex-Debenhams unit and plans Watford megastore

  26-01-2023 13:59 via retailgazette.co.uk
  
  // TK Maxx is on a store opening spree as it snaps up a former Debenhams unit in West Cumbria and plans for a megastore in Atria Watford
  // Both stores are set to open this SummerTK Maxx has signed a new 22,500sq ft store in Workington town centre, which is set to open this Summer.
  The new branch on Washington Square will take over the ground and part first floor of the former Debenhams retail unit in West Cumbria.
  The discount retailer is also set to open a megastore in the former Next uni
  
  Read more

• Morrisons saves over one million bags of surplus food from going to waste

  26-01-2023 13:42 via retailgazette.co.uk
  
  // Morrisons sells over one million bags of surplus food thanks to partnership with Too Good To Go
  // To save food from going to waste, consumers can simply download the free Too Good To Go appMorrisons has saved over one million bags of surplus food from going to waste in the UK through its partnership with Too Good To Go.
  The grocer said it was the first supermarket to partner with food saving platform Too Good To Go to redistribute its surplus food in October 2019.
  The surplus food is redistr
  
  Read more

• Preloved fashion pop-up takes over ex-Topshop store

  26-01-2023 13:36 via retailgazette.co.uk
  
  // A preloved fashion concept store is opening in Brent Cross for a four-week pop-up
  // The “department store for second-hand style” brings together a selection of pre-loved clothing from 10 UK charitiesA preloved fashion concept store is taking over the former Topshop unit in Brent Cross for a four-week pop-up.
  Charity Super.Mkt, which opens tomorrow and runs until 27 January, brings together a curated selection of second-hand clothing from 10 UK charities.
  Shoppers are encoura
  
  Read more

• 300 Asda roles at risk as 4,000 staff face pay cut

  26-01-2023 13:17 via retailgazette.co.uk
  
  // Asda places 300 roles at risk of redundancy and cuts pay for 4,100 night workers
  // The grocer is proposing to move some overnight restocking shifts at 184 stores to the daytimeAsda has unveiled a major shake-up of its store operations, putting close to 300 roles at risk and reducing pay for over 4,000 night workers.
  The grocer is proposing to move some overnight restocking shifts at 184 stores to the daytime, placing 211 night shift manager roles at risk.
  The changes will also affect 4,
  
  Read more

• Harvey Nichols pledges to go fur-free by the end of 2023

  26-01-2023 12:04 via retailgazette.co.uk
  
  // Harvey Nichols has pledged to stop selling fur by the end of the year
  // The British department store retailer previously introduced a fur-free policy in 2004, but reneged on this policy back in 2013Harvey Nichols has confirmed that it will stop selling fur by the end of 2023, following an investigation into Chinese fur farms by animal protection organisation Humane Society International.
  The British department store retailer previously introduced a fur-free policy in 2004, but reneged on thi
  
  Read more

• M&S chair: UK’s ‘baffling’ post-Brexit plans will wreck trade

  26-01-2023 11:39 via retailgazette.co.uk
  
  // M&S Chairman Archie Norman says plans to facilitate post-Brexit trade have been ‘overbearing and confusing’
  // Norman has also urged the Foreign Secretary during talks with the EU not to consider separate labelling for goods sold in Northern IrelandMarks & Spencer’s chairman has become the latest business leader to criticise the Government’s economic policy, with Archie Norman calling plans to ease post-Brexit trade “overbearing” and “baffling
  
  Read more

• Poundland to open 50 stores in 2023, creating 750 jobs

  26-01-2023 11:12 via retailgazette.co.uk
  
  // Poundland is undergoing a retail expansion programme in 2023, with plans to open at least 50 new stores
  // New openings across the UK include what will be its largest store in Scotland, set to open in MarchPoundland has said in the nine months to the end of September 2023, it will open and relocate at least 50 new stores, adding around half a million square feet in retail space, creating 750-800 new retail roles.
  The value giant said its retail expansion programme will support the range revol
  
  Read more

• Two shopping centres become the first in the UK to achieve net zero carbon status

  26-01-2023 09:13 via retailgazette.co.uk
  
  // Quayside MediaCity and Gloucester Quays have become the first in the UK to achieve net zero carbon status
  // The buildings achieved the feat following action taken to reduce emissions and up renewable energy useQuayside MediaCity in Salford and Gloucester Quays, have become the first shopping centres to achieve ‘Net Zero Carbon – Operational Energy’, in line with UKGBC’s Net Zero Carbon Buildings Framework.
  The two retail destinations have been added to the growin
  
  Read more

• Zara owner Inditex to double number of disabled employees in the next 2 years

  26-01-2023 08:39 via retailgazette.co.uk
  
  // Inditex to significantly increase the number of employees with disabilities worldwide within two years
  // The group said its commitment will enhance disability inclusion in its network of stores, logistics centres, warehouses and offices worldwideZara owner Inditex has said it will double the number of disabled employees in its global workforce over the next two years, to 1,500 workers.
  The Spanish fashion giant‘s commitment will enhance disability inclusion in its network of stores, lo
  
  Read more

• Tech layoffs: 5 online retailers axing jobs

  26-01-2023 02:42 via retailgazette.co.uk
  
  Global tech giants including Microsoft, Google and Spotify have kicked off the new year by unveiling thousands of job cuts.
  Online retailers have also been reducing headcount in a bid to cut costs amid a slowdown in ecommerce sales.
  Retail Gazette looks at five big retailers that have unveiled job cuts in recent months.
  AmazonAmazon is to axe more than 18,000 jobs from its workforce, the largest number in its history.
  This equates to around 6% of the online giant’s roughly 300,000-person
  
  Read more

• Interview: Ikea’s big plans for UK domination

  26-01-2023 02:10 via retailgazette.co.uk
  
  Ikea global retail boss Tolga Öncü may oversee a vast portfolio of stores around the world, but the UK is getting a lot of his attention right now.
  It’s no surprise. The UK – and London in particular – is a big expansion priority for Ikea and is delivering strong sales right now as shoppers invest in their homes post-pandemic.
  Last month, Ikea said that sales in the country jumped 13% to £2.2bn in its year to 31 August.
  To serve this growing demand, Ikea plans t
  
  Read more

• Zara owner to double number of employees with disabilities within two years

  26-01-2023 01:00 via theretailbulletin.com
  
  Zara owner Inditex has announced that it is to double its number of employees with disabilities worldwide within two years. This will include boosting the inclusion... View Article
  
  Read more

• VIA Outlets celebrates record-breaking year

  26-01-2023 01:00 via theretailbulletin.com
  
  VIA Outlets has celebrated a “record-breaking” 2022 when total brand sales surpassed €1.2 billion across more than 1,100 stores in 11 destinations in nine European countries.... View Article
  
  Read more

• Two shopping centres become the first in UK to achieve net zero carbon status

  26-01-2023 01:00 via theretailbulletin.com
  
  Quayside MediaCity in Salford and Gloucester Quays have become the first shopping centres in the UK to achieve ‘Net Zero Carbon – Operational Energy’, in line... View Article
  
  Read more

• Two shopping centres become first in UK to achieve net zero carbon status

  26-01-2023 01:00 via theretailbulletin.com
  
  Quayside MediaCity in Salford and Gloucester Quays have become the first shopping centres in the UK to achieve ‘Net Zero Carbon – Operational Energy’, in line... View Article
  
  Read more

• TK Maxx to join line-up at Atria Watford

  26-01-2023 01:00 via theretailbulletin.com
  
  TK Maxx is to open a new store at Atria Watford this summer. Spanning 30,557 square feet across three floors, the shop will offer clothing, accessories,... View Article
  
  Read more

• Poundland to open half a million square feet of retail space in 2023

  26-01-2023 01:00 via theretailbulletin.com
  
  Poundland is planning to open and relocate at least 50 new stores by the end of September to mark the biggest transformation of its store estate... View Article
  
  Read more

• Online supermarket Motatos say too much food still ends up in landfill

  26-01-2023 01:00 via theretailbulletin.com
  
  Online supermarket retailer Motatos saved 25,642 tonnes of waste globally in 2022, with £798,000 worth of food saved from landfill in the UK alone The 2022... View Article
  
  Read more

• Lidl becomes the first supermarket to achieve Welsh language certification

  26-01-2023 01:00 via theretailbulletin.com
  
  Lidl embraces inclusivity and this week become the first supermarket to achieve the Cynnig Cymraeg certification from the Welsh Language Commissioner. With 55 stores across Wales,... View Article
  
  Read more

• Lark London chooses Woking for first store outside of capital

  26-01-2023 01:00 via theretailbulletin.com
  
  Independent lifestyle boutique Lark London has selected Woking’s Victoria Place as the location for its first store outside of the capital. The retailer has taken a... View Article
  
  Read more

• Jigsaw launches repair service as part of sustainability model

  26-01-2023 01:00 via theretailbulletin.com
  
  Jigsaw is expanding its sustainable fashion model ‘Jigsaw Forever’ with the introduction of a ‘Repair Rewear’ service. Offered from Jigsaw’s Kensington High Street store in London,... View Article
  
  Read more

• Interview: Lee Jones Chief Executive Officer – Worldline Merchant Services UK Limited

  26-01-2023 01:00 via theretailbulletin.com
  
  Digitalisation is critical for any business looking to remain agile. And ultimately it all comes down to the leveraging of technology and the data that comes... View Article
  
  Read more

• Interview: Claudiu Cioba, Videowise

  26-01-2023 01:00 via theretailbulletin.com
  
  We talk to 34-year-old founder and CEO of Videowise, Claudiu Cioba to find out why video is the new shop window and how the young startup... View Article
  
  Read more

• Harvey Nichols to go fur-free by the end of 2023

  26-01-2023 01:00 via theretailbulletin.com
  
  British department store Harvey Nichols has announced that it is planning to stop selling fur by the end of 2023. The decision comes after an investigation... View Article
  
  Read more

• Currys launches ‘Quiet Hour’ after successful trial

  26-01-2023 01:00 via theretailbulletin.com
  
  Currys is launching an in-store ‘Quiet Hour’ every Monday to Friday until 11am following a successful trial across the Northwest of England and Wales. The move... View Article
  
  Read more

• Crew Clothing reports strong Christmas trading

  26-01-2023 01:00 via theretailbulletin.com
  
  Crew Clothing Company grew its total store sales by 15% over the festive period after it benefited from an increase in customers shopping in-store. In the... View Article
  
  Read more

• Carol Welch appointed at AF Blakemore as new CEO

  26-01-2023 01:00 via theretailbulletin.com
  
  In April, Carol Welch will become Chief Executive of AF Blakemore, one of the largest privately owned family businesses in the UK. Welch succeeds Jerry Marwood,... View Article
  
  Read more

• Asos brings in Restructuring Exec to help with turnaround

  26-01-2023 01:00 via theretailbulletin.com
  
  ASOS, the online fashion retailer, has appointed Scott Millar, a senior restructuring executive amid pressure from its lenders about the state of its balance sheet. According... View Article
  
  Read more

• Asda shake-up risks job cuts and lower pay for 4,000 night workers

  26-01-2023 01:00 via theretailbulletin.com
  
  Asda’s owners have revealed a planned shake-up that places hundreds of jobs at risk and will see thousands moved to lower-paid roles. The company has proposed... View Article
  
  Read more

• Aldi hits milestone of 30 million meals donated to local communities

  26-01-2023 01:00 via theretailbulletin.com
  
  Aldi has officially donated 30 million meals to good causes since launching its food donations initiative in 2019. In partnership with community giving platform Neighbourly, all... View Article
  
  Read more

Follow @retailuknws on Twitter!