Retail news

• Wilko plans to cut 400 jobs as part of restructuring after fall in sales

  15-02-2023 19:35
  
  Cut-price retailer struggling as number of high street shoppers remains well below pre-pandemic levelsWilko plans to cut more than 400 jobs, including assistant store managers, retail supervisors, head office managers and call centre workers, in the troubled retailer’s latest effort to control costs.The value household and garden products retailer has told staff it plans to reduce hours for team supervisors in 150 of its 401 stores, leading to the equivalent of about 150 full-time equivale
  
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• Secret Sales sales soar as it forecasts 85% growth in 2023

  15-02-2023 17:50 via retailgazette.co.uk
  
  // Secret Sales reported 70% like-for-like growth in 2022 with 80% growth in January 2023 sales alone
  // The rapid rate of growth sees the premium non-full price marketplace become one of Europe’s fastest growing fashion ecommerce platformsSecret Sales has cemented itself as one of Europe’s fastest growing fashion ecommerce platforms following record growth.
  The premium non-full price marketplace reported 70% like-for-like growth in 2022 and is on track to reach 85% this year.
  I
  
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• Joe Browns hails “robust Christmas” as home and menswear sales skyrocket

  15-02-2023 16:09 via retailgazette.co.uk
  
  // Joe Browns sales surged 19.5% in the month to 25 December 2022
  // Menswear and home sales skyrocketed 35.2% and 27% respectivelyJoe Browns celebrated a “robust Christmas” thanks to a strong demand for home and menswear.
  Sales for the retailer surged 19.5% in the four weeks to 25 December 2022 with a solid performance across all its channels.
  Menswear sales skyrocketed 35.2% due to popular demand for formal shirts and jackets while womenswear sales, the retailer’s larges
  
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• Morrisons credit rating downgraded after drop in sales and profits

  15-02-2023 15:04 via retailgazette.co.uk
  
  // Morrisons credit rating is downgraded by Moody’s
  // The outlook for Morrisons’ ability to repay its £7.5bn debts had changed to negative from stableMorrisons has seen a downgrade in its credit rating after recording a dip in sales and profits.
  Credit rating agency Moody’s said the outlook for Morrisons’ ability to repay its £7.5bn of debts had changed to negative from stable.
  The grocer‘s existing junk rating knocked down by one point, from B1 to
  
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• The Lex Newsletter: Amazon is determined to shop ’til it drops 

  15-02-2023 13:30
  Ecommerce giant may believe in physical retail but its customers appear less enthusiastic
  
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• Gymshark taps influencer for new lifting creative director role

  15-02-2023 13:12 via retailgazette.co.uk
  
  // Gymshark hires David Laid as its first ever creative director for lifting
  // The retailer said Laid is a “true success story of both fitness and lifting”Gymshark has hired David Laid as its first ever creative director for lifting.
  It is understood that Laid will be responsible for product development, creative direction, athlete recruitment and IRL events in the newly-created role.
  The sportswear giant said Laid’s appointment sees the advent of discount codes
  
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• UK inflation: which goods and services have risen most in price?

  15-02-2023 13:05
  
  From low-fat milk to eggs, passenger transport to recreation, how costs have soaredUK inflation falls but remains in double digits at 10.1%UK inflation might be easing – but don’t expect prices to fallInflation calculator: how UK household price rises affect youThe UK’s annual inflation rate fell in January, continuing a decline to 10.1% from a peak of 11.1% in October. But households remain under pressure as prices continue to rise for a wide range of goods and services.Despit
  
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• Kering sales hit by weaker Gucci performance in China and Balenciaga controversy

  15-02-2023 12:57
  Chief executive says luxury group’s sales have picked up since January
  
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• Kering sales hit by weaker Gucci performance in China

  15-02-2023 12:57
  Group’s biggest brand struggles with impact of Covid-19 lockdowns
  
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• The Perfume Shop extends price freeze until 2024

  15-02-2023 12:36 via retailgazette.co.uk
  
  // The Perfume Shop extends price freeze campaign on over 138 fragrances for another year
  // The retailer said it was committed to supporting customers looking to treat themselves and loved ones during the cost-of-living crisisThe Perfume Shop has extended its price freeze campaign on over 100 fragrances until 2024 as it looks to support customers during the rising cost of living.
  Some 138 best-selling fragrances from the business will be locked in price for another year with more than 60%
  
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• Paperchase to cease online trading this week and offer 50% off in-store sale

  15-02-2023 12:27 via retailgazette.co.uk
  
  // Paperchase will cease online trading on 17 February at midnight
  // The retailer will launch a weekly 50% off sale in storesPaperchase will cease online trading on 17 February at midnight and will launch a weekly 50% off sale in stores.
  The stationery retailer plunged into administration earlier this month, appointing Begbies Traynor to handle the process, with Tesco buying its IP and brand but not its 106 stores.
  Paperchase is also offering at least 30% off almost everything while stocks
  
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• Amazon skips wholesalers to source directly from brands

  15-02-2023 12:18 via retailgazette.co.uk
  
  // Amazon is set to scrap wholesalers in favour of sourcing directly from brands
  // The online giant told its vendors the approach will help control costs and keep prices low for shoppersAmazon has told its European vendors it will focus on sourcing products directly from brands instead of wholesalers as of April.
  According to an email seen by Retail Week, the retailer told its vendors it believes this approach will help control its cost base and “keep prices low for shoppers”.
  
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• Amazon scraps wholesalers to source directly from brands

  15-02-2023 12:18 via retailgazette.co.uk
  
  // Amazon is set to scrap wholesalers in favour of sourcing directly from brands
  // The online giant told its vendors the approach will help control costs and keep prices low for shoppersAmazon has told its European vendors it will focus on sourcing products directly from brands instead of wholesalers as of April.
  According to an email seen by Retail Week, the retailer told its vendors it believes this approach will help control its cost base and “keep prices low for shoppers”.
  
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• Morrisons’ credit rating downgraded after report of poor sales and profit

  15-02-2023 10:15
  
  Moody’s says outlook for UK’s fifth-largest supermarket, which is £7.5bn in debt, has shifted to negativeMorrisons’ credit rating has been downgraded after the supermarket reported poor sales and profits in the latest blow for the UK’s fifth-largest supermarket.Moody’s, the credit rating agency, said the outlook for Morrisons’ ability to repay its £7.5bn of debts had shifted to negative from stable and its existing junk rating knocked down one notc
  
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• Tesco adds more products than ever to Aldi Price Match campaign

  15-02-2023 09:50 via retailgazette.co.uk
  
  // Tesco has added 50 more products to its Aldi price-match campaign in a bid to compete with the value grocer
  // All the new additions are from Tesco’s own-label linesTesco has added more products than ever to its Aldi price-match campaign in a bid to rival the German discount grocer.
  According to private label consultancy IPLC, the UK’s biggest retailer previously had 619 products within the Aldi price-match campaign on 5 January, but since then the number has risen to 669.
  Of the
  
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• 2023’s retail forecast: which sectors will grow?

  15-02-2023 09:37 via retailgazette.co.uk
  
  2022 was a year plagued by sky-high inflation and dampened consumer demand, as the ‘cost-of-living ‘crisis became the buzzword of the year.
  It looks like retail sales will continue to be challenging in the first half of 2023.
  The BRC predicts retail sales will edge up between 1% and 2.3% in the first six months of year.
  However, the trade body forecasts a brighter second half, with retail sales expected to grow 3.6% to 4.7%.
  Although the headline annual figure of 2.3% and 3
  
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• Swarovski names new chief financial officer

  15-02-2023 09:36 via retailgazette.co.uk
  
  // Swarovski appoints David Wielemans to the role of chief financial officer
  // Set to take up the role in April, he’ll report to chief executive Alexis NasardSwarovski has named David Wielemans as its new chief financial officer.
  The jewellery retailer said he will also become a member of the company’s executive committee.
  Wielemans will take up the role in April which is based in Switzerland and will report to Swarovski’s chief executive Alexis Nasard.Subscribe to Retail
  
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• Price rises slow but inflation still near 40-year high

  15-02-2023 09:26 via retailgazette.co.uk
  
  // Price rises in the UK slowed for a third month in a row although inflation remains near a 40-year high
  // Food inflation remained high at 16.7% in the year to JanuaryPrice rises across the UK have slowed down for a third month in a row however inflation remains close to a 40-year high, according to the latest official figures released today.
  Inflation edged down to 10.1% in the year to January from 10.5% in December.
  The Office for National Statistics (ONS) which published the data, said the
  
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• Dunelm profits fall 17% as it warns on ‘unpredictable’ consumer outlook

  15-02-2023 09:06 via retailgazette.co.uk
  
  // Dunelm’s pre-tax profits slip from £140.8m to £117.4m
  // Despite the drop, the retailer saw sales increase to £835m during the second half of last yearDunelm saw its sales rise to £835m during the second half of 2022 – but the business warned investors that the consumer outlook remains “unpredictable” amid inflationary pressures and the cost-of-living crisis in the UK
  The Leicester-based homewares retailer posted a lower half-year profit as cust
  
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• Louis Vuitton names Pharrell Williams creative director of menswear

  15-02-2023 08:42 via retailgazette.co.uk
  
  //  Pharrell Williams has been named the creative director of Louis Vuitton menswear
  // It marks only the second time a Black American designer has held a head position at the world’s biggest luxury brandLouis Vuitton has named American musician Pharrell Williams creative director of menswear, replacing Virgil Abloh, who died in November 2021.
  This now marks the second time that a Black American designer has led the French luxury house. Back in 2018 when Abloh was appointed he made hi
  
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• Waitrose cuts prices on over 300 own-brand items

  15-02-2023 08:13 via retailgazette.co.uk
  
  // Waitrose has cut prices on over 300 items in its ‘Essential Waitrose’ range by an average of 14%
  // The move is part of a £100m investment into supporting households with the rising cost of livingWaitrose has cut prices on over 300 own-brand items as it invests £100m to support families with the rising cost of living.
  The grocery retailer has reduced prices of almost one third of its ‘Essential Waitrose’ by an average of 14%.
  Nearly a quarter of t
  
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• Waitrose to cut prices of own-brand basics as cost of living hits customers

  15-02-2023 07:00
  
  High-end grocer to reduce prices of hundreds of items in its Essential range by average of 14%It has long had the reputation as Britain’s most luxurious supermarket.But even Waitrose customers are being squeezed by the cost of living crisis, leading to the store slashing the prices of some of its own-brand basics. Continue reading...
  
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• Waitrose announces record price cuts

  15-02-2023 01:00 via theretailbulletin.com
  
  Waitrose is committing a record £100 million to lowering prices on 300 own-brand products as it looks to help customers with the rising  cost-of-living. Beginning today,... View Article
  
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• UK retail returns hit record level in 2022 as cost-of-living crisis bites

  15-02-2023 01:00 via theretailbulletin.com
  
  UK retail returns hit record levels in 2022 as the cost-of-living crisis impacted consumer behaviour. Despite online retail purchases falling by 11.5%, returns were 26% higher... View Article
  
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• Toolstation raises over £750,000 for Macmillan Cancer Support

  15-02-2023 01:00 via theretailbulletin.com
  
  Toolstation raised over £750,000 for its charity partner, Macmillan Cancer Support, in 2022. Since launching the partnership in 2020, Toolstation has raised over £1,500,000 for Macmillan,... View Article
  
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• The Perfume Shop announces biggest price freeze initiative

  15-02-2023 01:00 via theretailbulletin.com
  
  The Perfume Shop has announced its biggest price freeze initiative with prices being held on 138 of its best-selling, branded fragrances until 2024. Having launched the programme... View Article
  
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• Swarovski appoints new chief financial officer

  15-02-2023 01:00 via theretailbulletin.com
  
  Swarovski has appointed David Wielemans as its new chief financial officer. He will also become a member of the company’s executive committee. Due to take up... View Article
  
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• One Stop celebrates its 1000th store opening

  15-02-2023 01:00 via theretailbulletin.com
  
  Convenience retailer, One Stop, is celebrating the opening of its 1000th store by giving away free loaves of bread for customers*. In addition, to mark the... View Article
  
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• New look focusses on customer experience with new parcellab platform

  15-02-2023 01:00 via theretailbulletin.com
  
  Fashion retailer New Loo has partnered with parcelLab to enhance the post-purchase experiences for its online customers. The partnership will enable New Look to provide proactive... View Article
  
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• Louis Vuitton appoints Pharrell Williams as men’s creative director

  15-02-2023 01:00 via theretailbulletin.com
  
  The Louis Vuitton fashion house has announced that Pharrell Williams has become its new men’s creative director. His first collection for the luxury brand will be... View Article
  
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• Joe Browns hails robust Christmas trading

  15-02-2023 01:00 via theretailbulletin.com
  
  Fashion and homeware retailer Joe Browns saw its sales increase by 19.5% in the four weeks to 25 December despite the impact of the cost-of-living crisis.... View Article
  
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• Harley-Davidson launches new clothing collection

  15-02-2023 01:00 via theretailbulletin.com
  
  Harley-Davidson is to launch a new clothing range called H-D Collections as part of its continued growth strategy. In a release, the heritage motorcycle brand said... View Article
  
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• EXCLUSIVE WEBINAR FEATURING FORRESTER How can retailers protect their bottom line and the planet?

  15-02-2023 01:00 via theretailbulletin.com
  
  Join us for this exclusive webinar on Wednesday 22nd February at 3pm GMT with Guest Speaker Emily Pfeiffer, OMS Principal Analyst at Forrester and Romulus Grigoras,... View Article
  
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• Ecommerce specialist Furniturebox set for global expansion

  15-02-2023 01:00 via theretailbulletin.com
  
  Two school friends who started their online furniture business aged just 18 are in the hot seat after sales soared to £17 million just seven years... View Article
  
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• Dunelm’s profits fall despite sales increase

  15-02-2023 01:00 via theretailbulletin.com
  
  Dunelm has increased its sales by 5% to £835 million in the first half of its financial year, although its profits were down as expected. Compared... View Article
  
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• David Laid becomes Gymshark’s first ever Creative Director

  15-02-2023 01:00 via theretailbulletin.com
  
  Gymshark today announces that David Laid, world famous bodybuilder, model and influencer, is to become its first Creative Director, Lifting. While Gymshark has ventured into various... View Article
  
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• [ ebook ] A new era of opportunity in manufacturing

  15-02-2023 01:00 via theretailbulletin.com
  
  Leverage key digital trends in manufacturing to drive profits and grow your business Manufacturing sales will never be the same. The pandemic upped B2B consumer expectations and... View Article
  
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• [ eBook ] 11 Essential Best Practices from Leading Enterprise Marketplaces

  15-02-2023 01:00 via theretailbulletin.com
  
  The definitive guide to enterprise marketplace success, as told by the leading organizations that exemplify them. Enterprise marketplaces are the largest and fastest-growing drivers of eCommerce... View Article
  
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