Retail news

• Fast fashion but slow progress at loss-making Asos | Nils Pratley

  10-05-2023 19:18
  
  Covid lockdown boom masked flaws until it didn’t – and the loss of £291m in six months was worse than expected“There is a lag between operational change and visible results,” said online fashion retailer Asos in its half-year report, giving an optimistic spin on half-year numbers that were conspicuously awful.While the new chief executive talks the management blah of optimising and rightsizing, an adjusted pre-tax loss of £87.4m was several degrees worse than
  
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• Tesco and Lidl follow Sainsbury’s in dropping price of bread and butter

  10-05-2023 18:49 via retailgazette.co.uk
  
  // READ MORE ON GROCERY GAZETTETesco and Lidl have followed Sainsbury’s in dropping the price of bread and butter to provide better value for shoppers amid the cost-of-living crisis.
  Tesco’s toastie white thick bread, white bread, wholemeal medium bread and wholemeal thick bread will see a reduction of 10p to 75p both in-stores and online.
  The grocer’s unsalted butter and salted block butter products are also seeing 10p price drops to £1.89 each…
  Read more on Groce
  
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• Charles Tyrwhitt rolls out tech to reduce energy consumption

  10-05-2023 17:52 via retailgazette.co.uk
  
  // Charles Tyrwhitt has partnered with LoweConex reduce their energy consumption and carbon footprint.
  // The technology will provide accessible and accurate data to prove progress against its sustainable targets.Charles Tyrwhitt has partnered with LoweConex, a provider of IoT technology, to help the retailer reduce their energy consumption and carbon footprint.
  The technology will be rolled out across heating, ventilation and air conditioning (HVAC) systems across the menswear brand’s UK
  
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• John Lewis chair Sharon White wins confidence vote despite losses

  10-05-2023 17:39 via ft.com
  But the retailer’s council did not support last year’s performance
  
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• eBay launch new carbon academy to help small businesses

  10-05-2023 17:01 via retailgazette.co.uk
  
  // The ecommerce retailer is launching a set of sustainability focused courses for small scale enterprises
  //  It comes as part of eBay’s wider sustainability strategy and will help sellers keep their knowledge up to dateeBay is to launch a new training initiative that could help SMEs improve their understanding of sustainability and reduce their carbon footprint.
  The online retailer’s carbon academy is being created in conjunction with sustainability consultant Climate Par
  
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• John Lewis staff rebuke Sharon White over losses but back her to continue

  10-05-2023 15:31
  
  Chair vows retailer will stay employee-owned after row over reported plans to sell stake in partnership to investorsThe boss of John Lewis pledged the group would always remain employee-owned “no ifs no buts” after staff members backed her to continue as chair but expressed their dismay at the retailer’s poor performance last year.Sharon White had faced controversy after reports she was considering selling a stake in the company to an outside investor in an attempt to raise &po
  
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• Asos falls £291m into the red as shoppers return to high street

  10-05-2023 12:11
  
  ‘Challenging trading backdrop' for online fashion retailer, with sales dropping more than expectedAsos has dived £291m into the red after sales slumped in what the online fashion retailer called a “challenging trading backdrop” as shoppers returned to physical high street stores and reined in spending on non-essentials.Sales fell 8%, including a 10% drop in the UK, in the six months to 28 February – far worse than the 3% forecast by the City – as the company s
  
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• Amazon plots more warehouses and headcount in Europe

  10-05-2023 11:47 via retailgazette.co.uk
  
  // Amazon plans for more warehouses in Europe as it looks to expand its footprint across the continent
  // The move comes as the retailer undertakes aggressive cost-cutting measures including a mass layoff of staff across the businessAmazon boss Stefano Perego has said the tech giant is set to open new warehouses and hire more people in Europe as the tech giant looks to increase its footprint across the continent.
  The announcement finds Amazon in the midst of aggressive cost cutting, includi
  
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• Asos losses widen as UK sales fall 10%

  10-05-2023 09:34 via retailgazette.co.uk
  
  // Asos chief executive remains confident on return to profitability as £300m cost savings turnaround plan takes affect
  // The fashion etailer posted a reported pre-tax loss of £290.9m in the six months to February 28Asos chief executive José Antonio Ramos Calamonte is confident the retailer will return to profitability in the second half of the year despite losses widening.
  The online retailer posted a reported loss before tax of £290.9m in the six months to Februa
  
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• JD Sports to name new CFO

  10-05-2023 09:32 via retailgazette.co.uk
  
  // JD Sports to name BGL Group’s Dominic Platt as its new chief financial officer
  // Platt’s appointment is likely to be announced this week, Sky News reportsJD Sports is set to name BGL Group chief financial officer Dominic Platt as its new finance boss.
  Platt will replace Neil Greenhalgh, who is stepping down from his role after four years.
  The latest appointment, expected to be announced this week, will complete the retailer’s overhaul of its top executive team.Subscrib
  
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• Sainsbury’s launches first store with fully electric delivery fleet

  10-05-2023 02:00 via theretailbulletin.com
  
  Sainsbury’s has announced that its Nine Elms London superstore is now delivering to customers using a fully electric fleet. The new electric vans mean customers’ grocery... View Article
  
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• Retail sector dominates UK’s Top 100 fastest growing companies ranking 

  10-05-2023 02:00 via theretailbulletin.com
  
  New data published in Growth Index 2023, the annual ranking of the UK’s 100 fastest growing brands reveals that UK retail is firmly ‘on the up’... View Article
  
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• Reiss to join line-up at Centre:mk

  10-05-2023 02:00 via theretailbulletin.com
  
  Reiss is to join the line-up at the Centre:mk shopping destination in Milton Keynes. Set to open on Silbury Arcade this summer, the 1,884 square foot... View Article
  
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• New guidance for employers wanting to report on their ethnic pay gaps

  10-05-2023 02:00 via theretailbulletin.com
  
  by Charlotte Rees-John, partner and retail sector expert at law firm Irwin Mitchell. In recent years, the UK government has come under pressure to introduce legislation... View Article
  
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• Lidl is recruiting for over 1,500 warehouse workers as it submits plans for new RDC in Leeds

  10-05-2023 02:00 via theretailbulletin.com
  
  Lidl is to recruit over 1,500 warehouse team members across its existing regional distribution centre and has also announced plans to build a new warehouse on... View Article
  
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• IKEA launches multi-million pound distribution centre in Dartford

  10-05-2023 02:00 via theretailbulletin.com
  
  IKEA has opened a new 452,000 square foot distribution centre in Dartford as looks to make faster and more sustainable home deliveries to customers in London... View Article
  
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• Foot Locker appoints general manager for WSS

  10-05-2023 02:00 via theretailbulletin.com
  
  The Foot Locker sneaker and apparel retailer has appointed Blanca Gonzalez as senior vice president and general manager of its WSS banner. Due to take up... View Article
  
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• Comment: travel retail continues to fly

  10-05-2023 02:00 via theretailbulletin.com
  
  Back in the mid-90s Barry Gibson, the CEO of department store group Littlewoods, made the surprising move to head up retail at BAA (British Airports Authority).... View Article
  
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• Co-op opens Local Community Fund to around 4,000 community groups

  10-05-2023 02:00 via theretailbulletin.com
  
  Applications have opened today (Wednesday, 10 May) for local community groups and charities in to apply to receive funding and support from Co-op’s Local Community Fund.... View Article
  
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• Charles Tyrwhitt advances sustainability progress with sizeable green tech investment

  10-05-2023 02:00 via theretailbulletin.com
  
  Charles Tyrwhitt has partnered with LoweConex, a provider of IoT energy management solutions, to reduce their energy consumption and carbon footprint. The move will see LoweConex... View Article
  
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• Asos posts first half loss

  10-05-2023 02:00 via theretailbulletin.com
  
  Online fashion retailer Asos has posted an adjusted pre-tax loss of £87.4 million in the first half of its financial year compared to a profit of... View Article
  
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• Asda invests further in convenience sector with new Calne store

  10-05-2023 02:00 via theretailbulletin.com
  
  Asda is to open a convenience store in Calne later this month. Due to launch on 23 May, the shop  will be the retailer’s third ‘Asda... View Article
  
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• Anthropologie collaborates with Pernille Rosenkilde

  10-05-2023 02:00 via theretailbulletin.com
  
  Anthropologie has teamed up with designer, stylist and influencer Pernille Rosenkilde on the launch of an exclusive range of fashion and homeware items. While the interiors... View Article
  
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