Retail news

• Ben Jennings on the effect of soaring food prices on families – cartoon

  24-04-2023 21:00
  
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• Gymshark profits plummet due to soaring costs

  24-04-2023 20:56 via retailgazette.co.uk
  
  // Gymshark profits slip due to soaring operational and production costs
  // The activewear retailer posted full-year pre-tax profits dropped 39% to £27.8mGymshark’s full-year profits have been weighed down by climbing costs despite sales rocketing 21%.
  The activewear retailer pre-tax profits plunged 39% to £27.8m in the year to 31 July 2022, down from £45.4m the year before, despite sales jumping to £484.5m.
  The sales uptick was led by 25% rise in the US, while
  
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• Majestic makes ‘biggest investment ever in pay’

  24-04-2023 20:55 via retailgazette.co.uk
  
  // Majestic has increased basic pay for store staff to £10,60, ahead of the National Minimum Wage
  // Store managers will be able to earn an additional £11,700 per yearWine retailer Majestic has made its biggest ever investment in pay to better reward its staff and allow them to “earn as they learn”.
  The retailer, which termed its retail teams “the heart of the business”, has upped its basic pay for store staff to £10.60 – ahead of the National Mini
  
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• Gymshark profits plummet due to soaring operational costs

  24-04-2023 17:43 via retailgazette.co.uk
  
  // Gymshark profits slip due to soaring operational and production costs
  // The activewear retailer posted full-year pre-tax profits dropped 39% to £27.8mGymshark’s full-year profits have been weighed down by climbing costs despite sales rocketing 21%.
  The activewear retailer pre-tax profits plunged 39% to £27.8m in the year to 31 July 2022, down from £45.4m the year before, despite sales jumping to £484.5m.
  The sales uptick was led by 25% rise in the US, while
  
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• John Lewis Partnership joins M&S and Sainsbury’s in CBI exodus amid rape allegations

  24-04-2023 17:41 via retailgazette.co.uk
  
  // John Lewis Partnership terminates membership with Confederation of British Industry (CBI) amid rape allegations
  // Asda, M&S, Sainsbury’s and Tesco have “paused” its relationship with the group as the claims are investigatedJohn Lewis Partnership has become the latest retailer to cut ties with the Confederation of British Industry (CBI) following a second sexual harassment allegation.
  It joins Asda, M&S, Sainsbury’s and Tesco which have all “paused&r
  
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• Hammerson in talks to sell Croydon JV stake to Westfield

  24-04-2023 17:39 via retailgazette.co.uk
  
  // Hammerson is looking to sell its stake in the joint venture building a mega shopping centre in Croydon to partner Unibail-Rodamco-Westfield
  // The pair have been in the JV since 2013 but the development has been delayedHammerson is in talks with Westfield’s owner Unibail-Rodamco-Westfield to sell its stake in the Croydon shopping centre redevelopment, according to property publication Costar.
  The sales would end the decade-long plan for the pair to combine their interests in Croydon&rsq
  
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• Best&Less accused of putting profit before Bangladesh workers by failing to sign safety accord

  24-04-2023 17:00
  
  Company says its own code of conduct goes further than the global accord prompted by the Rana Plaza disaster 10 years agoGet our morning and afternoon news emails, free app or daily news podcastMajor clothing retailer Best&Less has been accused of putting company profit ahead of the safety of Bangladeshi garment workers by declining to sign a key international accord on worker safety and labour rights.The Rana Plaza disaster, 10 years ago on Monday, prompted outrage at the abysmal safety sta
  
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• Brexit is a drag on growth, says Burberry chair, as he attacks ‘own goal’ on VAT

  24-04-2023 16:51
  
  Gerry Murphy tells Rishi Sunak he should reverse decision to remove tax-free shopping for touristsThe chair of Burberry has called Brexit a “drag on growth” and asked Rishi Sunak to reverse a decision to remove tax-free shopping for tourists that has left Britain nursing the “weakest” Covid recovery among its big markets.Gerry Murphy, the chair of the £10bn trench coats to handbags fashion house, told the prime minister that a decision to remove VAT refunds in 2020
  
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• Tell us about your recent experience of shopping or working at House of Fraser

  24-04-2023 16:18
  
  We’d like to hear about the experience of highstreet and online shoppers and the experience of workers at UK retailer House of FraserWe’d like to hear how people have experienced shopping and working at the British department store group House of Fraser.We’re interested to hear how people experienced recent shopping transactions, whether online or in store, as well as about the experience of retail, customer support and warehouse workers at House of Fraser, and whether they hav
  
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• British supermarkets report shortages of peppers as Morrisons rations sales

  24-04-2023 14:50
  
  Retailer limits purchases to two a customer after cold snap in Europe hits suppliesBritish supermarkets are running short of peppers after a cold snap in Europe, leading some to limit the number customers can purchase.In a repeat of the shortages of salad crops in February and March, another bout of unseasonably cold weather in southern Europe has disrupted the harvest of fruit and vegetables, particularly peppers. Continue reading...
  
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• Lidl publishes shortlist of target locations for new stores

  24-04-2023 14:02 via retailgazette.co.uk
  
  // Lidl updates shortlist of priority locations for new stores
  // The discount grocer is targeting over 1,100 outlets across the UKLidl has published its shortlist of priority locations for new stores as it targets over 1,100 outlets across the UK.
  The discount grocer said the list represented potential sites in which only a small number would be developed into new branches.
  Lidl has opened 15 new stores in the last three months and expects to open 10 more later this year.Subscribe to Retai
  
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• Lidl publishes shortlist of new store locations

  24-04-2023 14:02 via retailgazette.co.uk
  
  // Lidl updates shortlist of priority locations for new stores
  // The discount grocer is targeting over 1,100 outlets across the UKLidl has published its shortlist of priority locations for new stores as it targets over 1,100 outlets across the UK.
  The discount grocer said the list represented potential sites in which only a small number would be developed into new branches.
  Lidl has opened 15 new stores in the last three months and expects to open 10 more later this year.Subscribe to Retai
  
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• Morrisons to launch discounted prices for loyalty scheme members

  24-04-2023 13:21 via retailgazette.co.uk
  
  // Morrisons is latest grocer to replicate Tesco Clubcard Prices by launching discounted prices for loyalty scheme members
  // The retailer will launch the new pricing trial tomorrow in 20 stores in the north eastMorrisons is to follow Tesco, Sainsbury’s and The Co-op in offering its loyalty scheme members discounted prices.
  The Grocer reported that Morrisons trial will kick off the new pricing initiative tomorrow across more than 20 stores in the north east, with a full rollout earmarked f
  
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• Sainsbury’s extends Nectar Prices initiative on spring essentials

  24-04-2023 12:47 via retailgazette.co.uk
  
  // Sainsbury’s extended its Nectar Prices initiative
  // The supermarket giant is offering up to half price on several BBQ essentialsSainsbury’s has extended its Nectar Prices initiative across more product ranges to help customers get spring ready ahead of the upcoming bank holiday weekends.
  Exclusive member pricing is now available on more favourite household brands including Cadbury, Kellogg’s and Robinsons in stores and online.
  Nectar members can enjoy up to 55% of
  
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• Kretinsky proposes €1.1bn investment in Casino

  24-04-2023 12:30
  Surprise offer comes as indebted Monoprix owner continues deal talks with other investors
  
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• Czech billionaire Křetínský proposes €1.1bn investment in Casino

  24-04-2023 12:30
  Surprise offer comes as indebted Monoprix owner continues deal talks with other investors
  
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• THG names Sue Farr as senior independent director

  24-04-2023 10:28 via retailgazette.co.uk
  
  // THG names Sue Farr as senior independent director with immediate effect.
  // Farr has spent 16 years in various non-executive director roles in media, advertising and marketingTHG has appointed Sue Farr as its senior independent director, with immediate effect.
  Farr has spent over 16 years in non-executive director roles following a successful career in media, advertising and marketing.
  Her current non-executive directorships include senior independent director at British American Tobacco plc,
  
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• THG hires advertising guru to board role

  24-04-2023 10:28 via retailgazette.co.uk
  
  // THG names Sue Farr as senior independent director with immediate effect.
  // Farr has spent 16 years in various non-executive director roles in media, advertising and marketingTHG has appointed Sue Farr as its senior independent director, with immediate effect.
  Farr has spent over 16 years in non-executive director roles following a successful career in media, advertising and marketing.
  Her current non-executive directorships include senior independent director at British American Tobacco plc,
  
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• Sainsbury’s to post falling profits as Aldi and Lidl win shoppers amid rising cost-of-living

  24-04-2023 09:59 via retailgazette.co.uk
  
  // Sainsbury’s is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year
  // Retailers have been battling it out to retain customers hit by inflation as shoppers head to Aldi and Lidl to stretch their cashSainsbury’s is set to become the latest supermarket to report a fall in profits as it continues to face increasing pressure from discounters Aldi and Lidl, which are gaining market share as the cost-of-living
  
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• Luxury retailer signs record £13m rent for Bond Street store

  24-04-2023 09:33 via retailgazette.co.uk
  
  // Kering is set to pay a record rent for the UK, after agreeing to a lease for Bond Street’s Yves Saint Laurent store
  // Kering will cough up £13m a year for the six-storey West London store, beating Ralph Lauren’s previous record of £11mGucci owner Kering has agreed to a lease for a new Yves Saint Laurent store on London’s Bond Street thought to set a record rent for the UK.
  According to the Sunday Times, market sources said the luxury fashion group will pay &poun
  
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• Asos hit by ‘dark destroyer’ shortseller ShadowFall

  24-04-2023 09:10 via retailgazette.co.uk
  
  // Asos has been targeted by short-seller Shadowfall, which believes that the retailer will be forced to raise more cash from shareholders
  // Asos is the second most shorted stock in the FTSE 250Struggling online retailer Asos has been hit by a big short attack from the hedge fund Shadowfall, which believes that the business will be forced to raise more cash from shareholders.Matthew Earl, boss of investment firm ShadowFall, has built a £4m short position in Asos, according to the Sunday T
  
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• Asos hit by ‘dark destroyer’ short-seller ShadowFall

  24-04-2023 09:10 via retailgazette.co.uk
  
  // Asos has been targeted by short-seller Shadowfall, which believes that the retailer will be forced to raise more cash from shareholders
  // Asos is the second most shorted stock in the FTSE 250Struggling online retailer Asos has been hit by a big short attack from the hedge fund Shadowfall, which believes that the business will be forced to raise more cash from shareholders.Matthew Earl, boss of investment firm ShadowFall, has built a £4m short position in Asos, according to the Sunday T
  
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• Abuses ‘still rife’: 10 years on from Bangladesh’s Rana Plaza disaster

  24-04-2023 09:04
  
  Campaigners say safety has improved but brands need to do more for workers’ rights and pay as survivors recount tragedy The fight for safe conditions and fair pay in Bangladesh has not yet been won, campaigners are warning on the 10th anniversary of the deadliest disaster in the garment industry’s history.On 24 April 2013, 1,134 people were killed and at least another 2,000 injured in the collapse of a factory building in Dhaka, Bangladesh, where clothing was being made for internati
  
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• Peacocks eyes over 20 former M&Co stores

  24-04-2023 08:58 via retailgazette.co.uk
  
  // Peacocks is set to occupy more than 20 former M&Co stores across the UK
  // Property experts say the move makes commercial sense as the retailer is able to know how each former M&Co location performed from administrator TeneoPeacocks is looking to open over 20 stores in former M&Co sites.
  According to Drapers, the value fashion retailer is set to move into the former M&Co store in Stornoway, Scotland in the coming months.
  It is also in advanced negotiations to open within the M
  
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• Ex-Asda boss Andy Clarke rescues online butcher Farmison from administration

  24-04-2023 08:39 via retailgazette.co.uk
  
  // Farmison & Co has been acquired by a Yorkshire consortium led by ex Asda boss Andy Clarke
  // The online butcher will re-commence trading in the coming weeksSustainable online meat retailer Farmison & Co has been acquired by a consortium led by ex-Asda boss Andy Clarke, Chilli Marketing’s Gareth Whittle, Christian Barton and Kieron Barton for an undisclosed sum.
  It said that over the course of the coming weeks, the consortium will recommence operations at Farmison’s product
  
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• Ex-Asda boss Andy Clark rescues online butcher Farmison from administration

  24-04-2023 08:39 via retailgazette.co.uk
  
  // Farmison & Co has been acquired by a Yorkshire consortium led by ex Asda boss Andy Clarke
  // The online butcher will re-commence trading in the coming weeksSustainable online meat retailer Farmison & Co has been acquired by a consortium led by ex-Asda boss Andy Clarke, Chilli Marketing’s Gareth Whittle, Christian Barton and Kieron Barton for an undisclosed sum.
  It said that over the course of the coming weeks, the consortium will recommence operations at Farmison’s product
  
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• Morrisons rations sales of peppers as cold snap in Spain hits supplies

  24-04-2023 08:26 via retailgazette.co.uk
  
  //Peppers have become the latest vegetable to run in short supply following cold weather in Spain
  // Last year, farmers warned that pepper and cucumber shortages might happen in the spring because supermarkets were not paying enough to grow them.Unseasonably cold weather in Spain means that Peppers have become the latest vegetable to be in short supply, causing some supermarkets to ration their produce.
  Morrisons has begun rationed sales of peppers to two per customer, but it is hoping to lift t
  
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• Beyond Bed and Bath

  24-04-2023 07:30
  Plus, gold and dedollarisation
  
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• Abuses ‘still rife’: 10 years on from the Bangladesh’s Rana Plaza disaster

  24-04-2023 07:00
  
  Campaigners say safety has improved but brands need to do more for workers’ rights and pay as survivors recount tragedyThe fight for safe conditions and fair pay in Bangladesh has not yet been won, campaigners are warning on the 10th anniversary of the deadliest disaster in the garment industry’s history.On 24 April 2013, 1,134 people were killed and at least another 2,000 injured in the collapse of a factory building in Dhaka, Bangladesh, where clothing was being made for internatio
  
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• America's dollar stores get a makeover

  24-04-2023 06:00
  
  Santander is in talks to hire several of Credit Suisse’s most senior investment bankers
  
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• THG appoints Sue Farr as non-executive director

  24-04-2023 02:00 via theretailbulletin.com
  
  THG has appointed Sue Farr as a senior independent director with immediate effect. An experienced FTSE 100, 250, Small Cap and AIM board member, she has... View Article
  
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• Superdrug launches ‘Purchase for Nurses’ to celebrate International Nurses Day

  24-04-2023 02:00 via theretailbulletin.com
  
  Superdrug will be celebrating next month’s International Nurses Day by raising £175,00 to fund the equivalent of all Marie Curie registered nurses working in the Marie... View Article
  
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• Selfridges launches Worn Again second hand and circular shopping experience

  24-04-2023 02:00 via theretailbulletin.com
  
  Selfridges is encouraging customers to keep products in circulation for longer by organising an event called Worn Again that will run from April to August. The... View Article
  
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• Prada Group offers employees free bone health screening

  24-04-2023 02:00 via theretailbulletin.com
  
  Prada Group has begun offering employees free screening for their bone health. The luxury fashion brand has partnered with Italian biomedical company Echolight to arrange a... View Article
  
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• Planet to power a seamless shopping experience by connecting payments and software on a single retail platform.

  24-04-2023 02:00 via theretailbulletin.com
  
  Planet, a global technology leader providing integrated software and payment solutions, is excited to be at this year’s Retail Technology Show, where it’ll be showcasing its... View Article
  
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• Lidl to expand with “no ceiling on our ambition or growth potential”

  24-04-2023 02:00 via theretailbulletin.com
  
  Supermarket giant Lidl is set to expand as it publishes its list of priority locations for new stores. The update comes after Lidl welcomed a record... View Article
  
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• Levi Strauss names new chief marketing officer for Levi’s

  24-04-2023 02:00 via theretailbulletin.com
  
  Levi Strauss & Co has appointed Kenny Mitchell as senior vice president and chief marketing officer of the Levi’s brand. Due to take up his role... View Article
  
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• Farmison acquired by consortium led by former Asda CEO

  24-04-2023 02:00 via theretailbulletin.com
  
  Farmison & Co has been acquired out of administration by a consortium led by former Asda chief executive Andy Clarke and Chilli Marketing executives Gareth Whittle,... View Article
  
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• Aldi launches voucher giveaway for Coronation Street Parties

  24-04-2023 02:00 via theretailbulletin.com
  
  Aldi is helping communities across the UK celebrate the Coronation in style with a huge voucher giveaway. The supermarket is giving away £500 in Aldi vouchers... View Article
  
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