Retail news

• Aida’s Intelligence: Sports Direct’s AI campaign and Amazon and AO’s cost-cutting pays off

  14-04-2023 18:17 via retailgazette.co.uk
  
  // This week, Aida – an AI-generated news reporter for Charged – reviews the AI initiative by Sports Direct and cost-cutting strategies implemented by Amazon and AO.
  // To find out more, visit Retail Gazette’s sister site, Charged RetailSports Direct has partnered with applied futurist, Tom Cheesewright, to predict how human feet will change over the next 100 years and fit them with perfect shoes.
  Meanwhile, AO has raised its revenue estimates to £1.13
  
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• Just Hype rescued in pre-pack deal, all jobs saved

  14-04-2023 17:45 via retailgazette.co.uk
  
  // Just Hype rescued by Birmingham-based investor Sarjon Dulai in pre-pack deal, saving all 82 jobs
  // The streetwear retailer will continue to trade online and through its stockists under new its new ownershipJust Hype has been rescued in a pre-pack administration deal which will see all 82 jobs saved.
  Birmingham-based investor Sarjon Dulai has snapped up the streetwear retailer for an undisclosed sum after it entered administration on 31 March, Drapers reported.
  Under its new ownership, t
  
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• Just Hype rescued in pre-pack deal

  14-04-2023 17:45 via retailgazette.co.uk
  
  // Just Hype rescued by Birmingham-based investor Sarjon Dulai in pre-pack deal, saving all 82 jobs
  // The streetwear retailer will continue to trade online and through its stockists under new its new ownershipJust Hype has been rescued in a pre-pack administration deal which will see all 82 jobs saved.
  Birmingham-based investor Sarjon Dulai has snapped up the streetwear retailer for an undisclosed sum after it entered administration on 31 March, Drapers reported.
  Under its new ownership, t
  
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• Amazon Fresh drops the prices of over 200 products as shoppers feel the pinch

  14-04-2023 15:20 via retailgazette.co.uk
  
  // Amazon Fresh lowers the prices of over 200 products across all 19 stores
  // The price cut promotion offers reductions of up to 40% on everyday essentials from household brandsAmazon Fresh stores have slashed the prices of over 200 products across all its 19 stores in a bid to help customers save on essentials as the cost-of-living crisis continues.
  The Price Cut promotion offers reductions of up to 40% on everyday essentials from household brands, including household favourites Heinz Tomato K
  
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• Amazon Fresh drops the prices of over 200 products

  14-04-2023 15:20 via retailgazette.co.uk
  
  // Amazon Fresh lowers the prices of over 200 products across all 19 stores
  // The price cut promotion offers reductions of up to 40% on everyday essentials from household brandsAmazon Fresh stores have slashed the prices of over 200 products across all its 19 stores in a bid to help customers save on essentials as the cost-of-living crisis continues.
  The Price Cut promotion offers reductions of up to 40% on everyday essentials from household brands, including household favourites Heinz Tomato K
  
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• Superdry may have to raise new funds as weather dampens profits

  14-04-2023 15:03
  
  Cost of living crisis also hits sales at British fashion brand, which does not expect to make profit this yearSuperdry has warned that it no longer expects to make a profit this year and may have to raise new funds as a damp spring and the cost of living crisis hit sales.The British fashion brand said it was considering raising money as it also struggled with disappointing wholesale sales. Continue reading...
  
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• Debt and decisions: what lies ahead for John Lewis

  14-04-2023 14:02
  The mutual’s unusual partnership structure is celebrated but it limits room for financial manoeuvre
  
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• Asda reintroduces £5 ‘First Scan Bonus’ for new Asda Rewards users

  14-04-2023 12:25 via retailgazette.co.uk
  
  // READ MORE ON GROCERY GAZETTEAsda has reintroduced its ‘First Scan Bonus’ for first time users of its loyalty programme, Asda Rewards.
  This comes following the success of the scheme, which first launched in February, and saw over £2 million earned through the Rewards app across hundreds of thousands of customers.
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• Pandora hands store staff up to 14% pay rise

  14-04-2023 12:13 via retailgazette.co.uk
  
  // Pandora gives staff third pay rise in 12 months and offers new incentives
  // Store staff have seen their hourly pay increase up to 14%Pandora has raised its hourly pay for store colleagues in the UK and Ireland by up to 14% and introduced a host of new staff incentives.
  The recent pay increase, which came into effect earlier this month, is the third one from the jewellery retailer in the past 12 months.
  Retail employees in London have seen their hourly pay rise by 10% to £11.95, wh
  
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• Shoppers in Great Britain switch to frozen food amid cost of living crisis

  14-04-2023 09:33
  
  Such products doing ‘notably better’ than fresh items, data from Kantar reported by BBC showsBritish shoppers are switching from fresh to frozen food as they try to keep down spending amid the cost of living crisis, retail data suggests.The soaring cost of the weekly shop has been a significant factor in the squeeze on UK households, with food price inflation running at 18.2% amid high energy prices and shortages of salad vegetable because of bad weather in Europe. Continue reading..
  
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• Superdry withdraws profit guidance and considers equity raise

  14-04-2023 09:13 via retailgazette.co.uk
  
  // Superdry withdraws its profit guidance of “broadly breakeven” for its current year
  // The business said it has identified cost savings of over £35 millionSuperdry has withdrawn its “broadly breakeven” full-year profit guidance as a result of a challenging trading environment and disappointing retail sales in February and March.
  To further strengthen its balance sheet, the fashion retailer confirmed it is considering an equity raise of up to 20% of its issued shar
  
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• AO raises profit guidance for third time this year as cost-cutting measures pay off

  14-04-2023 08:56 via retailgazette.co.uk
  // AO raises its guidance to “around the top end” after seeing positive movement from its strategy to reduce costs and improve margins
  // Risks of macroeconomic uncertainty did not materialise to the extent it had previously fearedAO World has raised its profits guidance once again “to the top end” of its previous expectations of £37.5-40 million, well up on the £20-30 million it guided late last year.
  The online retailer said risks of macroeconomic uncertaint
  
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• Dr Martens cuts profit guidance again as costs mount, CFO to retire

  14-04-2023 08:38 via retailgazette.co.uk
  
  // Dr Martens slashes lowered profit guidance for the second time in four months
  // The retailer reveals Chief Financial Officer Jon Mortimore is leaving after seven years with the businessDr Martens has reduced its full-year profit guidance for the second time in four months after costs to tackle operational issues at its LA distribution centre proved higher than expected and lower wholesale revenues.
  The footwear retailer, which issued a profit warning back in January, said it now expects core
  
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• Sainsbury’s follows rival Tesco in cutting milk price

  14-04-2023 08:05 via retailgazette.co.uk
  
  // Sainsbury’s follows in Tesco’s footsteps by cutting milk prices
  // Unlike Tesco, the supermarket did not give a reason for its moveSainsbury’s will be cutting the price of milk in its stores, following a similar move made by Tesco on Wednesday.
  The supermarket said it was reducing the price of its four-pint own-brand bottle to £1.55 but gave no specific reason for its decision, unlike Tesco which said it had made the move because its costs for buying milk had fallen.
  T
  
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• Labour looks to ‘revitalise’ high street in new five-point plan

  14-04-2023 08:00 via retailgazette.co.uk
  
  // Labour lists cutting business rates and energy bills in new five-point plan to help “revitalise the high street”
  // BRC chief executive Helen Dickinson described the plan as “positive” and added any business rates reform must “reflect how modern retail works”Labour has outlined a five-point plan aimed to “revitalise local high streets” after rising inflation and soaring energy bills has hit the sector.
  As part of the plan, the political par
  
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• Asda price: How buyers bagged a £6.8bn supermarket chain for £200mn

  14-04-2023 06:00
  Jersey and Luxembourg filings reveal financial engineering behind the UK’s biggest leveraged buyout in a decade
  
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• Superdry withdraws full year profit guidance as it considers equity raise

  14-04-2023 02:00 via theretailbulletin.com
  
  Fashion retailer Superdry has withdrawn its full year profit guidance and is considering a potential equity issue to strengthen its balance sheet. This could be up... View Article
  
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• Dr. Martens lowers profit guidance

  14-04-2023 02:00 via theretailbulletin.com
  
  Dr. Martens has lowered its profit guidance as it reported that full year revenue increased by 10%, or by 4% in constant currency.  Meanwhile, fourth quarter... View Article
  
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• Dr. Martens chief financial officer to retire

  14-04-2023 02:00 via theretailbulletin.com
  
  Dr. Martens has announced that Jon Mortimore has decided to retire from his role as chief financial officer. The footwear retailer has begun a search for... View Article
  
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• Comment: stop getting hung up on store numbers

  14-04-2023 02:00 via theretailbulletin.com
  
  Retail is very simply defined as ‘the sale of goods or services from individuals or businesses to the end-user’. This strikes me as being pretty broad... View Article
  
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• Checkpoint Systems to showcase retail-focused RFID product line at the Retail Technology Show in London

  14-04-2023 02:00 via theretailbulletin.com
  
  Checkpoint Systems, a global leader in radio frequency identification (RFID and RF) technology and inventory control solutions, will showcase its RFID product range at the Retail... View Article
  
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• Bloobloom announces opening date for new Covent Garden store

  14-04-2023 02:00 via theretailbulletin.com
  
  French designer eyewear brand Bloobloom is to launch a flagship store in London’s Covent Garden next week. Situated near to Apple, Rituals and Tiffany & Co,... View Article
  
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• Asda to offer staff a paid day off to mark King’s coronation

  14-04-2023 02:00 via theretailbulletin.com
  
  Asda has announced that its hourly paid store staff will be able to request a paid day off on the 8 May Bank Holiday to enable... View Article
  
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• Asda reintroduces £5 ‘First Scan Bonus’

  14-04-2023 02:00 via theretailbulletin.com
  
  Asda is reintroducing its ‘First Scan Bonus’ initiative this month for first-time users of Asda Rewards app. The move follows the success of the scheme in... View Article
  
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