Retail news

• Jim Cramer: luxury stockpicker

  03-05-2023 20:18
  Jamès has done it again!
  
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• Asda moves Blue Light Card 10% discount to rewards app

  03-05-2023 13:58 via retailgazette.co.uk
  
  // Asda moves key worker 10% discount to its rewards app
  // Blue Light Card holders who scan their Asda Rewards app in-store for the first time between May 4 and May 31, will also receive a £2.50 bonusAsda has said that Blue Light Card holders will now receive their discount through its Rewards app.
  The change, which comes into effect from Thursday means that cardholders will get 10% off their shopping in-store by now scanning their Asda Rewards app at the checkout, rather than presenting
  
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• Skechers promotes UK sales boss to managing director

  03-05-2023 13:15 via retailgazette.co.uk
  
  // Skechers promotes company veteran Richard Parker to the role of managing director
  // The former national sales manager has worked for the retailer for 22 yearsSkechers has promoted national sales manager Richard Parker to the role of managing director of UK and Ireland.
  Parker has worked for the footwear retailer for 22 years and will replace Peter Youell, who will transition into an advisory role for international projects.
  During his tenure, Peter has held nearly every position within Skech
  
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• Waitrose sales boosted by strong demand for Duchy Organic products

  03-05-2023 12:45 via retailgazette.co.uk
  
  // Waitrose receives sales boost after demand for Duchy Organic range surges ahead of coronation weekend
  // The organic food and drink brand was set up by King Charles III in 1990 to sell produce from his farmWaitrose has received a much-needed boost in sales as demand for its Duchy Organic range soars ahead of King Charles III’s coronation on Saturday.
  Set up by the King in 1990, the brand partnered with the upmarket grocer in 2010 and is the UK’s largest organic food and drink
  
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• Ban smoking and tax fruit juice, says George Osborne

  03-05-2023 11:55
  
  Ex-chancellor urges UK PM extend sugar tax and raise legal age for tobacco to curb obesity and cancerUK politics live – latest updatesBusiness live – latest updatesSmoking should be banned and the sugar tax extended to include fruit juice and milkshakes, George Osborne has said.In 2016, the Conservative former chancellor announced a sugar tax on soft drinks such as Coca-Cola and Irn Bru, claiming the money would be used to provide more sports funding for primary schools. It was not l
  
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• Secret Sales secures $10m funding as it eyes Europe expansion

  03-05-2023 11:41 via retailgazette.co.uk
  
  // Secret Sales eyes further European expansion following $10m raised in Series B funding
  // The marketplace will use the funds to “elevate its unique marketplace technology”Secret Sales has successfully raised $10m in funding as it looks to accelerate its journey towards becoming Europe’s largest marketplace for non-full-price fashion.
  The premium non-full price marketplace will use the funds “to elevate its unique marketplace technology”, which, as of Februar
  
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• Data: One in five UK households to stock up on more groceries for coronation

  03-05-2023 11:29 via retailgazette.co.uk
  
  // One in five British households will be buying more groceries ahead of King Charle’s upcoming coronation
  // Sales of beer, wine, spirits and treats are expected to see a boostOne in five British households are set to buy extra or special groceries for King Charles’ coronation as the bank holiday approaches, new data reveals.
  Market researcher NIQ said beers, wines and spirits were likely to be “a footfall driver” for supermarkets with Britain’s new monarch set to
  
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• Wickes makes ‘encouraging’ start to the year despite adverse weather hitting sales

  03-05-2023 11:12 via retailgazette.co.uk
  
  // Wickes’ like-for-like sales slip as bad weather affected demand for seasonal lines.
  // Trade sales “continue to perform well” but “DIY sales remain lower year-on-year”Wickes has reported an “encouraging” start to the year, with performance in line with expectations despite adverse weather impacting core sales.For the first 16 weeks of the year, the DIY retailer‘s like-for-like revenues slipped 0.6%, while ‘do-it-for-me’ sales increas
  
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• Castore predicts 100% revenue growth in 2023

  03-05-2023 10:41 via retailgazette.co.uk
  
  // Castore has increased its revenue forecast for 2023
  // The retailer cited new kit deals with European football clubs and its store expansion as key driversCastore has upped its revenue forecast for 2023 by 30%, now expecting sales to hit £200m ($250m), representing a 100% increase year-on-year.
  Key drivers for its rise in revenues come from the sports retailer securing kit deals with European football clubs such as Feyenoord Rotterdam FC, Athletic Club Bilbao, Football Association of Ir
  
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• Card Factory profit triples as shoppers return to high street

  03-05-2023 09:18 via retailgazette.co.uk
  
  // Card Factory profits triple boosted by a strong performance of store-based sales
  // Pre-tax profits for the retailer rose to £52.4m in the 12 months to 31 January, up from £11.1m the year beforeCard Factory profits have more than tripled thanks to shoppers returning to stores and a strong golden quarter.
  The greeting cards retailer’s pre-tax profits skyrocketed 368.5% to £52.4m in the 12 months to 31 January, up from £11.1m the year before. The figure includes a
  
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• Ocado: 30% of shareholders vote against CEO’s £2m pay 

  03-05-2023 08:56 via retailgazette.co.uk
  
  // 30% of shareholders voted against CEO Tim Steiner’s pay
  // Ocado made a £500m loss last yearAlmost a third of Ocado shareholders voted against CEO Tim Steiner’s £2m pay packet at its AGM yesterday.
  A total of 30.14% of investors voted against Steiner’s remuneration package.
  The Ocado co-founder was paid a £755,000 salary for the year and a bonus of £1.19 million in a year when the online grocer’s losses widened to £500 million.
  Retail sale
  
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• Superdry targets £12m in share sale

  03-05-2023 08:45 via retailgazette.co.uk
  
  // Superdry looks to raise £12m via share sale
  // The struggling retailer’s CEO has agreed to underwrite the equity raise in its entiretySuperdry is to sell £12m worth of shares in a bid to strengthen its balance sheet as it pursues a turnaround plan.
  The struggling fashion retailer will issue 15.7m new ordinary shares at 76.3p each, equating to 19.1% of its equity.
  Co-founder and chief executive Julian Dunkerton, who owns a 25% stake in the business, has agreed to underwr
  
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• Superdry launches £12m share sale as COO steps down

  03-05-2023 08:45 via retailgazette.co.uk
  
  // Superdry looks to raise £12m via share sale
  // The struggling retailer’s CEO has agreed to underwrite the equity raise in its entiretySuperdry has confirmed it is to sell £12m worth of shares in a bid to strengthen its balance sheet as it emerged that its COO has stepped down.
  The struggling fashion retailer will issue 15.7m new ordinary shares at 76.3p each, equating to 19.1% of its equity.
  Co-founder and chief executive Julian Dunkerton, who owns a 25% stake in the bu
  
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• Wickes makes “encouraging” start to the year

  03-05-2023 02:00 via theretailbulletin.com
  
  Wickes has said it made an encouraging start to its new financial year with sales in line with expectations. Sales at the home improvements retailer edged... View Article
  
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• Watches of Switzerland Group CFO steps down

  03-05-2023 02:00 via theretailbulletin.com
  
  Watches of Switzerland Group has announced that its chief financial officer Bill Floydd will be stepping down from 12 May by mutual agreement. He will be... View Article
  
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• [Report PFS] Overcoming confusion on the road to more sustainable eCommerce operations

  03-05-2023 02:00 via theretailbulletin.com
  
  Consumers desire to shop with retailers who actively support their values, yet the latest Conscious Commerce report from PFS, The Green Dilemma: The Disparity Between Consumer... View Article
  
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• People Matter: Co-op introduce new compassionate leave colleague policy

  03-05-2023 02:00 via theretailbulletin.com
  
  Co-op has today (Wednesday 3 May) launched a new leading colleague compassionate leave policy  to better support its 57,000 colleagues when someone close to them dies or... View Article
  
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• One Stop celebrates the Coronation with £25,000 community donations

  03-05-2023 02:00 via theretailbulletin.com
  
  To celebrate the King’s Coronation, One Stop has provided 100 community groups with a £250 donation through their ‘Community Partnership Programme’. One Stop has many ongoing... View Article
  
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• On launches first pop-up outside of London at Liverpool ONE

  03-05-2023 02:00 via theretailbulletin.com
  
  Swiss sportswear brand On has launched its first-ever pop-up outside of London at the Liverpool ONE shopping destination. Remaining open until 4 June, the 4,000 square... View Article
  
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• Nisa gears up for ambitious recruitment drive in 2023

  03-05-2023 02:00 via theretailbulletin.com
  
  Nisa, the wholesale and independent retail specialist, is set to open a further 400 stores this year, as part of its ambitious recruitment drive. Following a successful 2022,... View Article
  
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• Just Hype appoints Mike Thompson as Chief Operating Officer

  03-05-2023 02:00 via theretailbulletin.com
  
  Leicester based fashion brand, Just Hype, has appointed Mike Thompson as the new Chief Operating Officer. The move comes after the company was acquired in a... View Article
  
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• Hotel Chocolat appoints new chair

  03-05-2023 02:00 via theretailbulletin.com
  
  Hotel Chocolat has appointed Stephen Alexander as its non-executive chair. He will succeed Andrew Gerrie who will step down as the company’s chair and member of... View Article
  
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• End appoints chief buying and merchandising officer

  03-05-2023 02:00 via theretailbulletin.com
  
  End has appointed Lea Cranfield as chief buying and merchandising officer. In her new position, Cranfield will be responsible for driving product strategy while reporting to... View Article
  
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• Castore ups revenue forecast

  03-05-2023 02:00 via theretailbulletin.com
  
  Castore has upped its revenue forecast for 2023 following the signing of new kit deals with European football clubs and collaborations with high profile sports people. The... View Article
  
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• Card Factory posts jump in full year profit

  03-05-2023 02:00 via theretailbulletin.com
  
  Card Factory has posted a jump in full year profit after it benefited from customers returning to its stores post-pandemic. In the year to 31 January,... View Article
  
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• Co-op unveils new flexible compassionate leave policy

  03-05-2023 01:01 via retailgazette.co.uk
  
  // Co-op has launched a new policy giving greater flexibility for paid leave for bereavement
  // Colleagues can take up to 10 days paid leave when needed, at any time, regardless of the relationship to the person who has diedCo-op has launched a new leading colleague compassionate leave policy as it looks to better support its 57,000 colleagues when someone close to them dies or is seriously ill.
  Ahead of Dying Matters Awareness Week, the group said it is committed to creating “a truly
  
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