Retail news

• Kingfisher: sinking profits leave Garnier to brazen it out

  21-03-2023 17:40
  DIY retailers, despite their best efforts to shake off their cyclical label, remain vulnerable
  
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• How B&Q owner Kingfisher plans to grow ecommerce to 25% of sales

  21-03-2023 17:03 via retailgazette.co.uk
  
  // DIY retailer Kingfisher plans to accelerate its ecommerce sales as online revenue has more than doubled since the onset of the pandemic.
  // To find out more, visit Retail Gazette’s sister site, Charged Retail: click hereKingfisher, which revealed a 20% drop in full-year profit today, wants online to account for a quarter of all sales. It currently makes up 16.3% of sales, twice the level of 2019-20 rates.
  CLICK HERE TO READ ABOUT KINGFISHER’S PLANS
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• Just Eat Takeaway lays off 1,700 couriers in employment U-turn

  21-03-2023 17:01
  Group previously sought to set itself apart in UK by moving away from gig economy
  
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• Screwfix rescues spare parts retailer from administration

  21-03-2023 16:09 via retailgazette.co.uk
  
  // Screwfix acquires spare parts retailer Connect Distribution Services from administration
  // It has bought the stock, intellectual property, contracts and fixed assets of the service for £3mScrewfix has acquired online spare parts and repair company Connect Distribution Services from administration.
  The retailer has bought the stock, intellectual property, contracts and fixed assets of the operation in a £3m deal.
  Connect Distribution Services sells spare parts and accessories
  
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• Tesco angers shoppers by cutting value of Clubcard reward scheme

  21-03-2023 14:28
  
  Chain says customers will double rather then triple value of points when spending them from mid-JuneTesco has angered shoppers by announcing that it will be reducing the value of its popular Clubcard reward scheme from 14 June.The UK’s biggest retailer said that after that date shoppers will only be able to double the value of their Clubcard points – rather than triple them as now – when they spend them with one of its reward partners on a restaurant meal, day trip or cinema ou
  
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• Tesco cuts value of Clubcard reward vouchers

  21-03-2023 13:32 via retailgazette.co.uk
  
  // Tesco is cutting the value of its Clubcard rewards scheme from 14 June
  // Points will be worth twice their value, instead of the three times they are nowTesco is slashing the value of its Clubcard rewards scheme later this year as it revamps loyalty scheme.
  From 14 June, Clubcard points will be worth twice their value instead of triple when exchanged with its reward partners, including Legoland and Pizza Express.
  The grocer is extending the validity period on Tesco Clubcard Reward P
  
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• B&Q owner Kingfisher reports 20% drop in profits

  21-03-2023 13:31
  Sales at retailer boosted by demand for energy and water-saving products
  
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• B&Q owner Kingfisher boosted by sales of energy and water-saving products

  21-03-2023 13:31
  More than £1 in every £10 spent at group last year came from items designed to cut utility bills
  
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• B&Q could open at least 50 more smaller UK stores

  21-03-2023 12:45
  
  DIY chain backs B&Q Local format as it reports 40% slide in pre-tax profits to £611mB&Q could open at least 50 small and medium-sized stores across the UK as it adapts to demand for more convenient local stores where goods ordered online can be picked up.The retailer said it had eight high street outlets – called B&Q Local – in London and was perfecting the format, considering how it could better sell kitchens and bathrooms there, before considering how many in tota
  
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• Scotch & Soda seeks bankruptcy for Dutch operations as search for buyer continues

  21-03-2023 12:14 via retailgazette.co.uk
  
  // Scotch & Soda files for bankruptcy for its Dutch operations, citing “severe cash flow issues”
  // The Amsterdam-based retailer drafted in advisors last month as it looks for a new ownerScotch & Soda has filed for bankruptcy for its Dutch operations as it continues the search for a new owner.
  The Amsterdam-based fashion retailer said the decision was “unavoidable” as a chain of events had “accelerated severe cash flow issues” that it had been str
  
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• ScS remains confident despite £6.3m loss

  21-03-2023 11:48 via retailgazette.co.uk
  
  // ScS posts loss in the first half of its financial year
  // The retailer is confident that it remains in a strong position for the full yearScS has reported a loss in the first half of its financial year but is confident that it remains in a strong position.
  The sofa and furnishing specialist reported a loss of £6.3m, deepening from £3.6m in losses reported the previous year.
  In the same period, gross sales increased to £154.9m, a 3.4% increase compared with £149.8m the
  
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• Kingfisher profits drop 20% as DIY demand wanes amid rising cost of living

  21-03-2023 11:30 via retailgazette.co.uk
  
  // DIY retail giant Kingfisher has seen full-year profits drop as sales slip
  // The B&Q owner reported adjusted pre-tax profits dropped 20% to £758m in the year to 31 JanuaryB&Q and Screwfix owner Kingfisher full-year profits have plummeted 20.2% as demand for home improvement goods wanes amid the rising cost of living.
  Adjusted pre-tax profits for the DIY retailer dropped to £758m in the 12 months to 31 January, down from £949m in the year before.
  Sales were down 0.7%
  
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• Currys hands store staff fourth pay rise in 18 months

  21-03-2023 10:00 via retailgazette.co.uk
  
  // Currys increases pay for hourly paid store colleagues to £10.50 across the UK and to £11.50 in London
  // Almost 10,000 UK store colleagues to benefit from a fourth increase in 18 months Currys has revealed an additional pay rise for its hourly paid store colleagues in the UK.Rates will increase from £10.35 per hour to £10.50 and to £11.50 in London – the fourth rise in the last 18 months following its last boost in September.
  The
  
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• Data: Oxford Street houses more empty stores than average British high street

  21-03-2023 09:07 via retailgazette.co.uk
  
  // Oxford Street is full of more empty shop units than the average British high street
  // The famous shopping street’s vacancy rate is 16% – up from 13%, the average rate for high streets in central London
  London’s Oxford Street is lined with more empty units than the average British high street, new data from Local Data Company (LDC) and Retail Week has revealed.
  The vacancy rate on the famous shopping strip is higher than that of the average British high street and the rest o
  
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• Asda to stock Claire’s products in over 500 stores in new partnership

  21-03-2023 08:51 via retailgazette.co.uk
  
  // Claire’s and Asda launch new in-store partnership
  // Claire’s said the move into the supermarket’s stores was a “natural fit”
  Asda will be stocking Claire’s products in over 500 supermarkets across the UK as part of an “ongoing successful consumer products partnership”, Retail Week reveals.
  The announcement follows a successful “test-and-learn” trial that launched back in October 2020 and saw the high street accessories retailer&lsqu
  
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• American candy stores: Council calls for law reform to end blight of shops on Oxford Street

  21-03-2023 08:39 via retailgazette.co.uk
  
  // Westminster City Council called for a “stronger” economic crime bill and reform of business rates to put an end to American candy and souvenir stores littering Oxford St
  // In the last 15 months, the council has recovered £1 million worth of items that were deemed suspect are either fake or potentially dangerous within the storesWestminster City Council has called for a much stricter economic crime bill and reform of business rates to officially bring a halt to American-styl
  
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• New Look reveals new redundancies with 70 head office roles at risk

  21-03-2023 08:20 via retailgazette.co.uk
  
  // New Look is set to put 70 roles at risk at its London and Weymouth head offices
  // Those affected by the redundancy process will enter a consultation periodNew Look is placing 70 roles at risk at its London and Weymouth head offices as part of a wider examination of the business.
  Drapers reports that the move is said to impact several departments across the locations at the high-street fashion retailer.
  New Look currently employs 1,200 people across its two head offices and those affected by
  
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• Ecommerce upstarts navigate pandemic shopping reset

  21-03-2023 05:00
  
  Smaller marketplaces look to keep customers returning as they adapt to slower growth
  
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• Superdrug donates 20,000 oral healthcare products to Beauty Banks

  21-03-2023 01:00 via theretailbulletin.com
  
  Superdrug marked World Oral Health Day yesterday by donating 10,000 Pro Care Tooth Brushes and 10,000 Pro Care Whitening Toothpastes to Beauty Banks to distribute to... View Article
  
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• Sainsbury’s switches laundry detergent from plastic to cardboard

  21-03-2023 01:00 via theretailbulletin.com
  
  Sainsbury’s has launched new laundry liquid detergent packaging to help customers reduce their use of plastic at home. The change has been applied to the retailer’s... View Article
  
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• Q&A: Nicole Bello, Group Vice President, EMEA at UKG

  21-03-2023 01:00 via theretailbulletin.com
  
  Nicole joined UKG in 2018 as Vice President of small and midsize business and channel sales in Europe, the Middle East, and Africa. Prior to UKG,... View Article
  
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• Porcelain Superstore sees sales rise to almost £16 million

  21-03-2023 01:00 via theretailbulletin.com
  
  Online tile retailer Porcelain Superstore has seen sales rise to £15.9 million. The Manchester-based family-run business recorded its eighth consecutive year of growth despite supply chain... View Article
  
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• Online tile retailer Porcelain Superstore sees sales rise to almost £16 million

  21-03-2023 01:00 via theretailbulletin.com
  
  Online tile retailer Porcelain Superstore has seen sales rise to £15.9 million. The Manchester-based family-run business recorded its eighth consecutive year of growth despite supply chain... View Article
  
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• Lidl looks to help tackle hygiene poverty

  21-03-2023 01:00 via theretailbulletin.com
  
  Lidl has expanded its ‘Good to Give’ trustmark to include hygiene products as it looks to help tackle rising levels of hygiene poverty across the UK.... View Article
  
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• KIngfisher posts drop in annual profit

  21-03-2023 01:00 via theretailbulletin.com
  
  Kingfisher has posted a drop in annual profit as customers cut back on home improvement spending during the cost-of-living crisis. In the year to 31 January... View Article
  
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• Is Composable PIM the right solution for you? 

  21-03-2023 01:00 via theretailbulletin.com
  
  Want to know what composable PIM means? Or the difference a composable PIM solution can make to your business? Read the Gartner report: “Quick Answer: What... View Article
  
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• Interview: Krisi Smith on joining the judging panel

  21-03-2023 01:00 via theretailbulletin.com
  
  We talk to Krisi Smith, Cofounder of Bird & Blend Tea Co. about why she has joined the People in Retail judging panel for the 2023... View Article
  
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• IKEA opens Plan & Order Point in Stockport

  21-03-2023 01:00 via theretailbulletin.com
  
  IKEA has opened a new Plan & Order Point in Stockport for customers looking to plan new kitchens and bedrooms. The smaller store format aims to... View Article
  
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• First ever ecommerce book launched by Mirakl

  21-03-2023 01:00 via theretailbulletin.com
  
  Mirakl have today announced the release of a new book The Online Marketplace Advantage: Sell More, Scale Faster, and Create World-Class Digital Customer Experience. The book... View Article
  
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• Event: last call for Omnichannel Futures

  21-03-2023 01:00 via theretailbulletin.com
  
  Retail Bulletin’s flagship Omnichannel Futures conference will be returning live in London this Wednesday. If you’re working in retail, don’t miss your chance to nab some... View Article
  
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• Currys announces fourth pay rise in 18 months

  21-03-2023 01:00 via theretailbulletin.com
  
  Technology retailer Currys, has today announced an additional rise for hourly paid store colleagues in the UK. Rates will increase rom £10.35 per hour to £10.50, the... View Article
  
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