Retail news

• Waitrose ramps up convenience offering as online sales drop by 27%

  16-03-2023 17:09 via retailgazette.co.uk
  
  // READ MORE ON GROCERY GAZETTEWaitrose is ramping up its convenience offering over the coming year, after reporting that online grocery sales dropped by 27% to £7.31bn, while branch sales remained flat.
  The upmarket retailer is investing in smaller stores and “increasing its presence in the convenience market”  after seeing Covid-19 shopping behaviours unwind at the same time that consumer confidence dropped to record lows.
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• John Lewis scraps staff bonus and warns of job cuts after £234m loss

  16-03-2023 16:54
  
  Warning follows group’s second ever full-year loss, and 3% fall in sales at WaitroseJohn Lewis and Waitrose staff will not get a bonus this year after the retail group fell into the red, posting a worse than expected £230m full-year loss.Sharon White, the chairman of the John Lewis Partnership, warned of job losses to come as she said “inflation hit us like a hurricane”, with higher freight, energy, labour and fuel bills adding £180m in costs. These helped push the
  
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• Sosandar appoints interim chair following death of Bill Murray

  16-03-2023 14:29 via retailgazette.co.uk
  
  // Sosandar appoints non-executive director Nick Mustoe as interim chairman
  // Mustoe will remain in the role until a permanent replacement is foundSosandar has appointed its non-executive director Nick Mustoe as interim chairman.
  Mustoe has joined with immediate effect and will continue in the role until a permanent replacement is found.
  The appointment comes after the sudden death of the retailer’s previous chairman Bill Murray last month.Subscribe to Retail Gazette for free
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• Amazon hikes fulfilment fees for European sellers

  16-03-2023 13:51 via retailgazette.co.uk
  
  //  Amazon will increase the multichannel fulfilment fees imposed on European sellers from next month.
  The service, which offers logistics services for orders outside of Amazon, will cost more from 7 April. The retail giant said the hike was due to rising operational costs amid inflation.
  // To find out more, visit Retail Gazette’s sister site, Charged Retail: click hereAn investigation has previously been launched to determine whether Amazon benefits sellers using its logistics and d
  
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• DFS lowers forecast as profits slump

  16-03-2023 11:30 via retailgazette.co.uk
  
  // Profits at DFS fall by £16.2m to £7.1m due to rising costs, particularly in the first quarter
  // Although the furniture retailer said it achieved record market shareDFS saw a 16.2% slip in half-year profit amid rising costs, particularly in the first quarter, as a weak trading environment hit customer discretionary spending.
  In the six-month period ending 25 December, pre-tax profit was also down at the furniture retailer, coming in at £6.8 million compared to £22.8 mi
  
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• John Lewis scraps staff bonus and warns of job cuts after annual loss

  16-03-2023 10:36
  UK retail group struggles with inflation and falling sales
  
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• John Lewis scraps staff bonus after annual loss

  16-03-2023 10:36
  UK retail group struggles with rising costs and losses
  
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• John Lewis staff miss out on bonus as group reports £234m loss

  16-03-2023 09:21
  
  Chairman warns of job losses after second ever full-year loss and 3% fall in sales at WaitroseJohn Lewis and Waitrose staff will not get a bonus this year as the retail group fell £234m into the red – worse than expected and its second ever full-year loss.The group said it made a pre-tax loss of £78m, compared with analysts’ expectations of £50m, but write-downs of the value of Waitrose stores after poor trading took the loss much higher. Continue reading...
  
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• John Lewis Partnership swings to £234m loss and warns of job cuts as it axes bonus

  16-03-2023 09:18 via retailgazette.co.uk
  
  // John Lewis scraps bonus following huge loss for the year to January 28
  // The retailer blamed the “economic backdrop and inflationary pressures” for the declineJohn Lewis Partnership has plunged to a loss of £234 million and admitted it could not afford to pay staff their traditional annual bonus.
  Excluding exceptionals, the biggest one being a write down in the value of Waitrose stores, losses were £78m. It had made a £181m profit last year.
  Sales across the par
  
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• John Lewis Partnership swings to £234m loss and axes bonus

  16-03-2023 09:18 via retailgazette.co.uk
  
  // John Lewis scraps bonus following huge loss for the year to January 28
  // The retailer blamed the “economic backdrop and inflationary pressures” for the declineJohn Lewis Partnership has plunged to a loss of £234 million and admitted it could not afford to pay staff their traditional annual bonus.
  Excluding exceptionals, the biggest one being a write down in the value of Waitrose stores, losses were £78m. It had made a £181m profit last year.
  Sales across the par
  
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• Lush complains to FCA about former director over sale of shares

  16-03-2023 08:56 via retailgazette.co.uk
  
  // Lush complains to Financial Conduct Authority about a former director over control of a large stake in the business
  // The retailer has filed an official complaint about Silverwood BrandsLush has complained to the City watchdog about a former director following a dispute over control of a large stake in the retailer.
  The company has filed an official complaint about Silverwood Brands with the Financial Conduct Authority and the Aquis stock exchange.
  Silverwood is controlled former Lush d
  
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• UK gift card market continues to thrive through economic challenges

  16-03-2023 01:00 via theretailbulletin.com
  
  Despite a backdrop of inflation and rising living costs, new research reveals a strong performance in the gift card and voucher industry through the second half... View Article
  
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• Trotters appoints chief executive

  16-03-2023 01:00 via theretailbulletin.com
  
  Childrenswear retailer Trotters has appointed Bruce Langlands as chief executive. Due to join the business next month, Langlands has been working as a management consultant with... View Article
  
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• Sosandar appoints interim chairman

  16-03-2023 01:00 via theretailbulletin.com
  
  Fashion brand Sosandar has announced that  its non-executive director Nick Mustoe has been appointed as interim chairman. He has taken up the role with immediate effect... View Article
  
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• Salford Shopping Centre hires new centre manager

  16-03-2023 01:00 via theretailbulletin.com
  
  Salford Shopping Centre has announced the appointment of Rory Fleming as centre manager. With almost 30 years’ experience, Fleming has spent the last 10 years at... View Article
  
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• John Lewis blames ‘pain of inflation’ for large losses and takes bonuses off the table

  16-03-2023 01:00 via theretailbulletin.com
  
  John Lewis has said it will not offer staff bonuses for the second time since 1953 after the retail group fell to a £78 million loss for... View Article
  
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• Goodbye waste, hello profit! New ebook highlights why retail’s advertising problem is really a data problem

  16-03-2023 01:00 via theretailbulletin.com
  
  Retail decision intelligence business Upp.’s new ebook ‘Goodbye waste, hello profit: Why retail’s advertising problem is really a data problem’ explores and analyses how retailers can... View Article
  
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• DFS profits hit by a weaker market

  16-03-2023 01:00 via theretailbulletin.com
  
  Furniture retailer DFS has seen its revenue from continuing operations fall by 2.2% to £544.5 million in its first half. In the six month period ending... View Article
  
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• Currys names new head of Nordics region following challenging trading

  16-03-2023 01:00 via theretailbulletin.com
  
   Currys has promoted Fredrik Tønnesen to the position of chief executive of its Nordics region He will succeed Erik Sønsterud who is stepping down with immediate... View Article
  
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• Charles Tyrwhitt to return to Bristol roots

  16-03-2023 01:00 via theretailbulletin.com
  
  Charles Tyrwhitt is to return to its home roots with the opening of its first store in Bristol at Cribbs Mall later this month. Spanning 1,600... View Article
  
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• Brunello Cucinelli raises full year sales estimates

  16-03-2023 01:00 via theretailbulletin.com
  
  Luxury fashion house Brunello Cucinelli has raised its full year revenue growth estimates from12% to 15% following “excellent”  first quarter trading to date. The company has... View Article
  
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