Retail news

• Sainsbury’s/Bestway: stake deal may herald further collaboration

  27-01-2023 18:38
  Rising costs have put the squeeze on every part of food supply chains
  
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• Asda could face strikes over plans that put 4,000 jobs at risk

  27-01-2023 17:39 via retailgazette.co.uk
  
  // Asda is facing the prospect of strike action unless it makes significant concessions on its major shake-up of its store operations, which has put 300 roles at risk & reduced pay for over 4,000 night workers
  // The source said a significant proportion of staff were expected to take redundancy under the current plansAsda could face potential strike action unless it makes significant concessions on its “efficiency” plans, which have put thousands of jobs at risk.
  The supermarket
  
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• Next Steps Toward More Automated Warehouses

  27-01-2023 17:29 via retailgazette.co.uk
  
  Do you still think that warehouse robotics is not suited for your business? Well, we politely disagree.
  From the labor shortage to the growing demand for fast order preparation and increasingly limited warehousing space, robotics can be just the thing to help you take your warehouse operations to the next level.
  Join our upcoming webinar on February 8th at 13:30 (GMT), to learn what robotic solution might be right for you.
  We will provide you with a comprehensive overview of our product line up
  
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• Bestway: from London cornershop to Sainsbury’s stakeholder

  27-01-2023 17:20
  
  Founded in 1963, the group includes Well Pharmacy and the Costcutter and Best-one chainsCostcutter owner Bestway takes near £200m stake in Sainsbury’sA convenience store in Earl’s Court, west London, may seem an unlikely launchpad for a multinational conglomerate, but that is where the Bestway Group began.The company – which is now one of the UK’s largest grocery wholesalers and also the owner of Well Pharmacy stores and the Costcutter and Best-one convenience chain
  
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• Bestway – from London cornershop to multinational conglomerate

  27-01-2023 17:20
  
  Founded in 1963, the group includes Well pharmacies and the Costcutter and Best-one chainsCostcutter owner Bestway takes near £200m stake in Sainsbury’sA convenience store in Earl’s Court, west London, may seem an unlikely launchpad for a multinational conglomerate, but that’s exactly where the Bestway Group first began.The company – which is now one of the UK’s largest grocery wholesalers and also owner of Well pharmacies and the Costcutter and Best-one conve
  
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• Asda could face strikes over plans that put thousands of jobs at risk

  27-01-2023 16:46 via retailgazette.co.uk
  
  // Asda is facing the prospect of strike action unless it makes significant concessions on its major shake-up of its store operations, which has put 300 roles at risk & reduced pay for over 4,000 night workers
  // The source said a significant proportion of staff were expected to take redundancy under the current plansAsda could face potential strike action unless it makes significant concessions on its “efficiency” plans, which have put thousands of jobs at risk.
  The supermarket
  
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• 4 fashion ecommerce brands embracing physical retail

  27-01-2023 16:20 via retailgazette.co.uk
  
  Despite proclamations that bricks-and-mortar retail is dead, several major ecommerce companies have recently been exploring the physical shopping environment.
  For digitally native brands, pop-up stores can offer a small, yet valuable window to make a memorable impression with consumers.READ THE FULL STORY HEREClick here to sign up to Retail Gazette‘s free daily email newsletter
  
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• Resale therapy: charities reinvent former Topshop to take on Depop and eBay

  27-01-2023 15:38
  
  Boasting DJs and ice-cream, groups from Shelter to Barnardo’s have clubbed together to create a preloved department store There’s a DJ playing funky tunes, colourful ice-creams and even more colourful outfits from animal print coats to a sequined jumpsuit at the latest opening in north London’s Brent Cross shopping centre.The former Topshop store, empty since the chain closed down two years ago, has been filled not with another fast-fashion name but with secondhand fashions bei
  
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• My job at a suit shop helped me understand Australian life — and forget my worries as a refugee | Shadi Khan Saif

  27-01-2023 15:00
  
  As a writer I could not have asked for a better place to get to know the people of my newly adopted countryI skipped the Australian summer’s club cricket this year for a weekend stint at a Melbourne shopping centre. It was meant for earning some money, but it opened the door to a whole new world that my curious heart is still exploring.As a refugee living in Australia I have been separated from my loved ones for more than a year. I have come to realise that facing this reality is the only
  
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• Sainsbury’s customers to win over 50m Nectar points in ‘The Big Points Bonanza’

  27-01-2023 14:54 via retailgazette.co.uk
  
  // READ MORE ON GROCERY GAZETTESainsbury’s shoppers across the UK are set to win over 50 million Nectar points in a nine-day giveaway event, ‘The Big Points Bonanza’.
  Launching today (27 January) and running until 4 February, customers can gain points in three ways, including to ‘Win Big’ and enter a prize draw where 50 shoppers will win one million Nectar points each, worth at least £5,000.
  Read more on Grocery GazetteSubscribe to Retail Gazette for
  
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• Resale therapy: 10 charities combine for pop-up London department store

  27-01-2023 13:35
  
  Boasting DJs and ice-cream, groups from Shelter to Barnardo’s join up to create pre-loved megastore in an old Topshop There’s a DJ playing funky tunes, colourful ice-creams and even more colourful outfits from animal print coats to a sequined jump suit at the latest opening in north London’s Brent Cross shopping centre.The former Topshop store, empty since the chain closed down two years ago, has been filled not with another fast fashion name, but with secondhand fashions being
  
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• Foot Locker to make job cuts as it trims costs under new leadership

  27-01-2023 13:14 via retailgazette.co.uk
  
  // Foot Locker is making cuts to its staff and store fleet as it looks to streamline the business under new its new leadership team
  // The footwear retailer said it would be axing an undisclosed number of “corporate and support roles,”Foot Locker has become the latest retailer to announce job cuts this year.
  The New York-based sportswear retailer said in a regulatory filing that it would be cutting “a number of corporate and support roles” in order to streamline the busin
  
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• Costcutter owner Bestway snaps up 3.45% stake in Sainsbury’s

  27-01-2023 11:31 via retailgazette.co.uk
  
  // Bestway Group acquires a 3.45% stake in Sainsbury’s considered to be worth £193m
  // The wholesale group said it was not considering a takeover offer at this timeCostcutter owner Bestway Group has snapped a 3.45% stake in Sainsbury’s in a deal worth around £193m.
  The wholesale group said it is not considering a takeover offer at the moment but that it may look to purchase more shares “from time to time”.
  The deal will see Bestway Group become the s
  
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• H&M profits tumble after Russia exit and soaring costs

  27-01-2023 10:55
  Swedish retailer’s earnings also hit by cost-cutting programme last year
  
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• H&M profits drop amid soaring costs and Russia exit

  27-01-2023 10:13 via retailgazette.co.uk
  
  // H&M’s fourth quarter net sales rise by 10% while in local currencies, net sales were flat
  // The withdrawal from Russia and its cost-cutting programme cost the retailer almost $252 million in 2022H&M has blamed high clothes prices, its exit from Russia and a cost-cutting programme for a bid drop in profits in 2022.
  The group, whose other brands include COS, Monki and Weekday, saw net sales for the three months to 30 November 2022 rise by 10% to £4.9bn year on year despite
  
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• 7 must-visit flagship stores opening in 2023

  27-01-2023 09:51 via retailgazette.co.uk
  
  Shoppers started to return to stores last year in the wake of Covid restrictions lifting.
  Although footfall remained 14.2% below 2019 levels, this gradually improved throughout the year. In fact, stores were the big growth channel for most retailers this Christmas.
  As we enter the New Year, a raft of retailers have revealed plans for new flagship stores that promise to woo shoppers to the high street.
  Retail Gazette rounds up some of the most exciting new stores opening to look forward to in 202
  
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• Costcutter owner Bestway takes near £200m stake in Sainsbury’s

  27-01-2023 09:49
  
  Grocery wholesaler may look to make further market purchases of supermarket’s sharesBestway, the owner of the Costcutter chain and is one of the UK’s largest grocery wholesalers, has taken a near £200m stake in Sainsbury’s and could seek to increase its stake further.The privately owned Bestway, which also owns the UK’s third-largest pharmacy chain and 2,000 convenience stores under the Costcutter and Best-one brands, has bought almost 81m shares, giving it a 3.45%
  
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• Store vacancies drop thanks to return of tourists and office workers

  27-01-2023 09:42 via retailgazette.co.uk
  
  // Store vacancies have dropped for the fifth consecutive quarter
  // The overall rate of store vacancies across the UK improved to 13.8% in the fourth quarter of 2022The number of store vacancies has declined for the fifth consecutive quarter.
  The overall rate of store vacancies across the UK improved to 13.8% in the fourth quarter of 2022, according to the BRC-LDC Vacancy Monitor.
  This is 0.1% better than Q3 and 0.6% better than the same time last year.Subscribe to Retail Gazette for free
  
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• Costcutter owner Bestway takes 3.45% stake in Sainsbury’s

  27-01-2023 08:57
  Wholesale and retail conglomerate says it may look to buy more shares in the UK supermarket chain
  
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• Superdry profits drop as it cuts full-year profit forecast to breakeven

  27-01-2023 08:53 via retailgazette.co.uk
  
  // Superdry profits drop as it cuts full-year expectations to breakeven
  // Group revenue rose 3.6% to £282.2m in the first half to October 29, 2022Superdry has seen its first-half profits drop after a decline in wholesale and a return to normal rents and rates post-Covid.
  The fashion retailer has cut full-year expectations to breakeven.
  Superdry recorded an interim adjusted pre-tax loss of £13.6m in the first half to October 29, 2022, up from a loss of £2.8m in the compara
  
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• Bensons for Beds sales rise following Eve Sleep acquisition

  27-01-2023 08:38 via retailgazette.co.uk
  
  // Bensons for Beds sales rise for the last quarter of 2022
  // The strong sales came after it made investments in improving its digital platforms and stores
  Bensons for Beds has reported a rise in sales for the last quarter of 2022 thanks to a strong online performance.
  The retailer, which rescued Eve Sleep from administration in October, saw like-for-like sales in the quarter to December 31, 2022 rise 7% compared to the same period last year.The strong sales came after it made investments in im
  
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• Why investors have largely shelved retail shares

  27-01-2023 06:00
  Shoppers have profited, but very few shareholders have
  
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• Coin watches gain currency among collectors

  27-01-2023 05:00
  
  This niche market is growing fast, with buyers coming to appreciate the craftsmanship and rarity of pieces
  
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• Brands weigh cost against popularity of watch fairs

  27-01-2023 05:00
  
  Trade show attendance is growing again, but some big industry names are still staying away in favour of different formats
  
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• The Cotswold Company makes new senior appointments

  27-01-2023 01:00 via theretailbulletin.com
  
  The Cotswold Company has revamped its senior management team with the appointments of Jim Sharp as chairman and Matt Pollington as chief marketing officer. The hirings... View Article
  
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• Superdry cuts full year profit guidance to breakeven

  27-01-2023 01:00 via theretailbulletin.com
  
  Superdry has downgraded its full year profit outlook to breakeven despite a stronger Christmas performance. The fashion retailer posted a 4.5% uplift in group revenue in... View Article
  
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• Return to Store – The Future of Retail

  27-01-2023 01:00 via theretailbulletin.com
  
  With many retailers reporting strong sales figures for the end of 2022, and the number of vacant UK shops falling what can retailers do to get... View Article
  
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• Poundstretcher gives workers second 10% pay rise

  27-01-2023 01:00 via theretailbulletin.com
  
  Discount retailers Poundstretcher has announced a 10 per cent pay rise for its workers following a similar rise just over a year ago. The business –... View Article
  
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• People matter: A little thank you goes a long way

  27-01-2023 01:00 via theretailbulletin.com
  
  [Exclusive. Part 4] Recognition – the act of expressing gratitude – can have an immensely positive psychological impact on employee motivation, job satisfaction, and overall well-being.  ... View Article
  
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• Morrisons posts drop in full year profit

  27-01-2023 01:00 via theretailbulletin.com
  
  Morrisons has posted a drop in full year pre-tax profit although its EBITDA came in at the top end of guidance given in its third quarter.... View Article
  
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• LVMH reports record revenues

  27-01-2023 01:00 via theretailbulletin.com
  
  Luxury goods giant LVMH has reported record revenue and profits for the second year in a row. Revenue for 2022 reached €79bn (£69.4bn), while profit from... View Article
  
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• H&M reports sharp drop in fourth quarter profit

  27-01-2023 01:00 via theretailbulletin.com
  
  H&M has seen a sharp drop in fourth quarter profit following the impact of a range of external factors and increased costs not fully passed on... View Article
  
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• DFS hires new non-executive director

  27-01-2023 01:00 via theretailbulletin.com
  
  Furniture retailer DFS has appointed Gill Barr as a non-executive director. Due to take up her role on 1 March 2023, she has previously been a... View Article
  
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• Costcutter owner Bestway snaps up £193m share of Sainsbury’s

  27-01-2023 01:00 via theretailbulletin.com
  
  One of Britain’s biggest family-owned businesses has snapped up a £193m stake in Sainsbury’s. Bestway, which owns Costcutter and Bargain Booze, said it had acquired a 3.45pc... View Article
  
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• Bensons for Beds boosted by stronger online sales

  27-01-2023 01:00 via theretailbulletin.com
  
  Bensons for Beds posted strong sales growth in the last three months of 2022 following investment in its stores and online platform. The bed and mattress... View Article
  
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