Retail news

• How a rescue turned to regret in Bed Bath & Beyond’s bankruptcy

  04-05-2023 18:06
  Tensions with Sixth Street Partners reveal the knife-edge nature of distressed-debt investing in a weaker economy
  
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• Lidl sees quiche sales soar ahead of Coronation weekend

  04-05-2023 17:25 via retailgazette.co.uk
  
  // READ MORE ON GROCERY GAZETTELidl has seen a jump in sales of items including quiche and champagne as the Coronation weekend approaches.
  Sales of the discount grocer’s premium Deluxe Quiches have climed 33% in the past month, while Lidl’s Chef Select Mini Scotch Eggs saw a 15% rise and its Mini Melton Mowbray Pork Pies were up 10%.
  The supermarkets Carpentier Champagne Brut also saw a 64% uplit in sales, with general champagne sales having increased by 50% month on month&
  
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• The ‘coronation effect’: UK high street shelves being cleared of quiche and fizz

  04-05-2023 16:00
  
  Party products, including bunting, flying off shelves, with Britons forecast to spend £200m on weekend festivitiesHigh street retailers are reporting a “coronation effect” sales boost as shoppers make a last-minute dash to the shops to stock up on party fare including bunting, champagne and cakes for this weekend’s celebrations.With potentially more than £200m of extra sales riding on the festivities surrounding the coronation of King Charles, retailers’ shelv
  
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• The ‘coronation effect’: high street shelves being cleared of quiche and fizz

  04-05-2023 16:00
  
  Party products, including bunting, flying off shelves, with Britons forecast to spend £200m on weekend festivitiesHigh street retailers are reporting a “coronation effect” sales boost as shoppers make a last-minute dash to the shops to stock up on party fare including bunting, champagne and cakes for this weekend’s celebrations.With potentially more than £200m of extra sales riding on the festivities surrounding the coronation of King Charles, retailers’ shelv
  
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• ‘I’m proud to be involved’: the Ukrainians making uniforms for the coronation

  04-05-2023 15:57
  
  Ten refugees from Ukraine are working at Kashket & Partners, a firm creating uniforms for King Charles’s coronationThe unusual lives and jobs of the king’s entourage“When I escaped the war in Ukraine with my husband and two children, I had no idea that I would be playing a part in the coronation,” says Olga Radchenko.The 37-year-old tailor fled her home in the city of Dnipro in January and sought refuge and work in the UK. She is now one of 10 Ukrainian refugees worki
  
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• Laura Ashley opens miniature exhibition to celebrate 70th anniversary

  04-05-2023 15:10 via retailgazette.co.uk
  
  // Laura Ashley to unveil a ‘mini exhibition’ as part of its anniversary celebrations
  // It showcases prints, sketches and furnishings across 70 years, all held in a phone boxLaura Ashley is set to unveil a ‘mini exhibition’ as part of its anniversary celebrations next week.
  The retailer‘s limited-time exhibition will showcase a selection of iconic prints and products from its 70-year history.
  Located on Upper St Martin’s Lane in London consumers can have a sn
  
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• PDD: Chinese ecommerce group seeks shelter in Ireland

  04-05-2023 14:31
  The Temu and Pinduoduo owner has moved its headquarters to boost growth
  
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• In pictures: Inside Tesco’s Coronation-themed pub

  04-05-2023 13:35 via retailgazette.co.uk
  
  // Tesco opens the doors to its Coronation-themed pub, The King in the Castle
  // The grocer will donate proceeds and an additional £250,000 to The Prince’s TrustTesco has opened the doors to its first-ever pub, The King in the Castle, in celebration of King Charles III’s Coronation on Saturday.
  The pub, located in London Farringdon, will be open for the two days leading up to the Coronation with proceeds going to The Prince’s Trust.
  Subscribe to Retail Gazette for fr
  
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• Zalando delivers revenue growth boosted by its online shopping club

  04-05-2023 13:13 via retailgazette.co.uk
  
  // Zalando posts improved figures for the first quarter as it adapts to market conditions
  // Its number of active customers also grew 4.8% versus last year to 51.2 millionZalando has delivered growth and improved profitability in the first quarter, helped by rising demand at its online shopping club Lounge by Zalando.
  The German online retailer said partners selling more fashion and beauty products on the company’s platform also helped boot sales.
  It reported a 2.3% increase in group reven
  
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• Joe Browns ‘delivers strongest year to date’ as sales soar

  04-05-2023 12:51 via retailgazette.co.uk
  
  // Joe Browns hails strong sales as turnover rises 20.9% to £47.3 million
  // Menswear sales climbed 34.7% as womenswear sales rose 18.4%Joe Browns has delivered its strongest year to date in the 12 months to 30 June 2022 with sales and profit rising by 20.9% to £47.3 million and 7.8% at £4.2 million respectively.
  Menswear sales at the fashion and lifestyle retailer climbed by 34.7%, as womenswear sales saw an increase of 18.4%.
  Homeware sales also rose by 43.6% following a
  
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• Next taps ex-Asos exec to lead its international business

  04-05-2023 12:34 via retailgazette.co.uk
  
  // Next appoints ex-Asos director of strategic partnerships Stephen Owen as its new international director
  // Owen has held senior positions at Topshop, Primark and River IslandNext has tapped Asos’ former director of strategic partnerships Stephen Owen as its new international director.
  Owen has a wealth of experience within the retail industry, having held senior positions at Topshop – where he spent four years as international direcotor and then director of strategic partnerships,
  
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• Pinduoduo owner moves headquarters to Ireland amid US-China tensions

  04-05-2023 10:43
  Shift could shield popular ecommerce app Temu from Washington’s actions against Chinese companies, say analysts
  
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• Next forecasts drop in spring sales amid cost of living crisis and cold weather

  04-05-2023 10:19
  
  Chain’s CEO Lord Wolfson warns of ‘very challenging’ 2023 after signalling price rises of 7%The UK clothing and homeware retailer Next has reported a smaller-than-expected drop in sales in recent weeks but expects a bigger decline in the spring quarter because of the cost of living crisis and colder weather than last year.Next, which has about 500 stores and is seen as a good barometer of consumer spending, said sales were down by 0.7% from a year earlier in the 13 weeks to 29
  
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• Supermarket bosses to meet Sunak over soaring food prices

  04-05-2023 10:08 via retailgazette.co.uk
  
  // Prime minister Rishi Sunak has summoned supermarket bosses and farmers to discuss soaring food prices
  // The discussions are said to include the bPrime minister Rishi Sunak is set to hold crisis talks with supermarket bosses and farmers later this month following calls for the government to address the inflationary impacts of food production.
  The Grocer reported the discussions are likely to explore the balance of power between growers and the big grocery retailers as well as cover the d
  
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• John Lewis appoints ex-Hobbs boss to board

  04-05-2023 09:29 via retailgazette.co.uk
  
  // John Lewis appoints former Hobbs chief executive Nicky Dulieu as non-executive director
  // Dulieu worked at Hobbs for nearly 9 years and currently holds several non-exec rolesJohn Lewis Partnership has appointed former Hobbs boss Nicky Dulieu as non-executive director, effective immediately.
  She will chair the audit and risk committee and replace Andy Martin, who is stepping down after five years.
  Dulieu joined Hobbs in 2006 as its financial director before becoming its chief executive b
  
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• Superdry raises £12m to fund turnaround plan

  04-05-2023 09:08 via retailgazette.co.uk
  
  // Superdry raises £12m via share sale and retail offer
  // The struggling retailer is using the proceeds to fund its turnaround planSuperdry has completed its £12m equity raise to help fund its turnaround plan.
  The struggling retailer raised £11.1m through the sale of new shares and £0.9m via a retail offer on Wednesday.
  The retailer issued 15.7m new shares, equating to 19.1% of the company’s equity, and the placing was backed by existing and new investors.Subs
  
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• Next keeps profit guidance despite smaller than expected sales dip

  04-05-2023 08:55 via retailgazette.co.uk
  
  // Next keeps profit guidance after first-quarter sales slip further than it expected
  // Full price sales in the 13 weeks to 29 April fell 0.7%, ahead of its 0.2% guidanceNext has maintained its profit guidance for the year, despite its sales coming in slightly ahead of expectations.
  Although full price sales dipped 0.7% in the 13 weeks to 29 April, this was better than the  -2% expected.
  The drop was driven by a 1.6% fall in online and 0.6% decline of in store sales.Subscribe to Retai
  
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• Next keeps profit guidance despite slip in quarterly sales

  04-05-2023 08:55 via retailgazette.co.uk
  
  // Next keeps profit guidance after first-quarter sales slip further than it expected
  // Full price sales in the 13 weeks to 29 April fell 0.7%, ahead of its 0.2% guidanceNext has kept its profit guidance for the year despite first-quarter sales slipping further than it expected.
  The retailer said full price sales dipped 0.7% in the 13 weeks to 29 April, slightly ahead of its 0.2% expectation.
  The drop was driven by a 1.6% fall in online and 0.6% decline of in store sales.Subscribe to Retai
  
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• Franken-chickens may be banned from UK supermarkets

  04-05-2023 07:22 via retailgazette.co.uk
  
  // The High Court will consider a case looking into whether farmers should be allowed to keep and sell franken-chickens
  //  The case will look at evidence that shows that chickens suffer from pain due to how they have been bredA court case to consider whether UK supermarkets should be allowed to sell fast-growing ‘franken-chickens’ has taken place today (May 3) and will continue tomorrow (May 4).
  Animal rights campaigners from the group Humane League have taken the issue to the
  
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• Skechers promotes Richard Parker to managing director for UK & Ireland

  04-05-2023 02:00 via theretailbulletin.com
  
  US footwear brand Skechers has promoted Richard Parker to the position of managing director of the UK and Ireland. Having worked for 22 years with the... View Article
  
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• Secret Sales sets sights on European expansion following new $10 million funding

  04-05-2023 02:00 via theretailbulletin.com
  
  Secret Sales has raised $10 million in new funding from a syndicate of investors as it looks ahead to accelerating its expansion in Europe. The marketplace... View Article
  
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• Retail media: Unlocking the power of the brand

  04-05-2023 02:00 via theretailbulletin.com
  
  With the next wave of digital commerce already surging, your next channel play should be in retail media networks, says Bernd Bube, CEO and Founder of... View Article
  
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• Next maintains annual profit guidance after dip in full price sales

  04-05-2023 02:00 via theretailbulletin.com
  
  Next has maintained its annual profit guidance after posting a small drop in first quarter full price sales. In the thirteen weeks to 29 April, full... View Article
  
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• Need to constantly push sustainable innovation

  04-05-2023 02:00 via theretailbulletin.com
  
  Retailers have to keep pushing their businesses forward in a sustainable manner through constant innovation and the adoption of technology that boosts service to the customer... View Article
  
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• L’Occitane Group report sustained growth

  04-05-2023 02:00 via theretailbulletin.com
  
  Beauty giant L’Occitane International S.A, has reported sustained growth in its unaudited update for the year ended 31 March 2023. With net sales reaching 2,134.7 million... View Article
  
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• JYSK opens first stores in Turkey

  04-05-2023 02:00 via theretailbulletin.com
  
  JYSK, the Danish furniture and homewares retailer, is opening its first two stores in Turkey this week as it continues to expand into new markets. The... View Article
  
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• John Lewis Partnership appoints Nicky Dulieu as non-executive director

  04-05-2023 02:00 via theretailbulletin.com
  
  The John Lewis Partnership has appointed Nicky Dulieu as a non-executive director of its partnership board. She will also chair of the audit and risk committee. With... View Article
  
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• Joe Browns hails strongest year to date

  04-05-2023 02:00 via theretailbulletin.com
  
  The Joe Browns fashion and homeware retailer delivered its strongest year to date in the 12 months to 30 June 2022 with sales and profit rising... View Article
  
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• Fortissimo Chocolates sold to Adar Chocolates

  04-05-2023 02:00 via theretailbulletin.com
  
  Administrators to Fortissimo Chocolates, which traded as The Raw Chocolate Company and Conscious Chocolate, have announced that the business has been sold to Adar Chocolates. The... View Article
  
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• Boohoo settles £156m court case over fake discounting

  04-05-2023 02:00 via theretailbulletin.com
  
  Boohoo has settled a staggering £156m US court case in which the fast fashion giant was accused of faking discounts for customers. The Manchester-based online retailer, which... View Article
  
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• RAC warns of diesel profiteering in UK despite wholesale price drop

  04-05-2023 01:01
  Premium over petrol remains and raises concerns that fuel retailers are taking advantage
  
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• RAC warns of diesel profiteering despite wholesale price drop

  04-05-2023 01:01
  Premium over petrol remains and raises concerns that UK fuel retailers are taking advantage
  
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• Aldi named UK’s cheapest supermarket for eleventh month in a row

  04-05-2023 01:01 via retailgazette.co.uk
  
  // Aldi named UK’s cheapest supermarket for eleventh month in a row
  // Which? found a basket of goods from Aldi cost £69.99 saving shoppers £17.34Aldi has once again been named as the UK’s cheapest supermarket by consumer group Which?, beating its discount rival Lidl by 65p for an average shop.
  The discounter has held its position for the eleventh month in a row and was £17.34 cheaper than Waitrose, which remains as the most expensive supermarket.
  Which? conducted i
  
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