Retail news

• Richemont says it is not for sale after reporting record earnings

  12-05-2023 14:46
  Swiss jewellery group rejected tie-up with Gucci owner Kering proposed by bankers two years ago
  
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• John Lewis becomes first department store to offer specialist internet safety advice

  12-05-2023 14:14 via retailgazette.co.uk
  
  // John Lewis partners with Internet Matters to help families navigate online safety for children, tweens and teens
  // Staff will have the skills to equip parents and carers with the knowledge, skills and tools needed to benefit children safely from connected techJohn Lewis has become the first department store in the UK to offer specialist advice to families on internet safety, teaming up with Internet Matters.
  The high street stalwart has teamed up with the online safety organisation to train
  
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• Tesco boss earned almost £4.5m in 2022 despite profits halving

  12-05-2023 13:58
  
  Ken Murphy’s basic salary rose but overall pay package fell as profit and food waste targets were missedThe boss of Tesco earned almost £4.5m last year despite profits halving and price rises for shoppers.Ken Murphy’s total £4.4m package compared with £4.7m a year earlier, after his bonus dipped because of missed targets on profits and food waste. His basic salary rose 1.7% to £1.4m. Continue reading...
  
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• THG shares fall after failed takeover talks with Apollo

  12-05-2023 13:00
  
  Investors, who have wiped out 90% of THG’s market value since September 2020, react to the latest developmentTHG has ended talks about a possible takeover bid by Apollo saying that the private equity company’s offer is an inadequate valuation of the online retail tech company.THG, formerly known as the Hut Group, said that after a “short period of discussion” to give Apollo the chance to up its offer for the company, its board has unanimously decided to “terminate a
  
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• Richemont plans cash return to investors fuelled by record sales and profits

  12-05-2023 12:46
  Jewellery sales and China rebound drive Swiss luxury group to all-time high earnings
  
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• Dunelm to open Watford store this year in ex-John Lewis unit

  12-05-2023 12:30 via retailgazette.co.uk
  
  // Dunelm will be opening the doors to a new store later this year, in the former John Lewis Atria Watford unit
  // The store will house a range of products from bedding and outdoor living, to haberdashery and diningDunelm is set to open its first store within Atria Watford in the 33,000 sq ft former John Lewis unit.
  The homeware retailer‘s new store, set to open later in the year, will stock a range of products, including bedding, outdoor living, home accessories, made-to-measure, haberdas
  
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• River Island launches pre-loved Reskinned products on eBay

  12-05-2023 11:16 via retailgazette.co.uk
  
  // River Island opens eBay shop selling pre-loved items as part of its takeback scheme with Reskinned
  // The fashion retailer’s head of corporate responsibility and sustainability said: “This represents a huge step forward in our ongoing efforts to reduce fashion waste”River Island has launched an eBay shop selling pre-loved items as part of its takeback scheme with Reskinned.
  The move forms part of the fashion retailer’s Kind Society, which aims to help increase awarenes
  
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• Tesco boss pocketed £4.4m last year as cost-of-living crisis rages on

  12-05-2023 09:55 via retailgazette.co.uk
  
  // Tesco boss Ken Murphy was paid £4.4m last year, the group’s annual report showed
  // The chief executive has been awarded a 3% salary increase for the current yearTesco boss Ken Murphy pocketed £4.4m in last year and has been awarded a salary increase, the group’s annual report showed.
  The chief executive had a fixed pay of £1.71m and performance related pay of £2.73m.
  It said Murphy would receive a 3% salary increase for the current year, which it note
  
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• THG terminates takeover talks with Apollo

  12-05-2023 09:27 via retailgazette.co.uk
  
  // THG ends discussions with Apollo about a possible takeover
  // The group said there was “no longer any merit” in talks and said the firm had undervalued the groupTHG has terminated talks with Apollo Global Management about a possible takeover, saying the firm had undervalued the group.
  The Lookfantastic and Myprotein owner said on Friday there was “no longer any merit” in continuing to engage with the private equity firm.
  “Consideration and rejection of the i
  
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• Supermarkets promise food prices have ‘peaked’

  12-05-2023 09:09 via retailgazette.co.uk
  
  // Supermarkets insist food prices have peaked and will start to fall over the coming months
  // The UK’s biggest supermarkets spoke to the Treasury on Thursday after the Bank of England rose interest rates to 4.5%Supermarkets have promised ministers that food prices have peaked and will begin to fall in the next few months.
  The crisis call with the Treasury came after Bank of England governor Andrew Bailey criticised high food prices for driving inflation.
  On Thursday, the Bank raised
  
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• How John Lewis and H&M are moving towards ‘unified retail’

  12-05-2023 08:49 via retailgazette.co.uk
  
  Unified retail, which enables retailers to bring together all aspects of their brand, product and marketing under a single platform, is increasingly being adopted across the industry.
  Retail giants John Lewis and H&M are two businesses that are taking this approach.
  John Lewis director of omnichannel Cassandra Bergsland tells Shoptalk Europe that despite her job title, “omnichannel feels like its focusing on business needs, while unified commerce is what customers are doing”
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• AO World boss: Work in the office or quit

  12-05-2023 08:33 via retailgazette.co.uk
  // AO World CEO John Roberts tells staff to quit if they do not want to work in the office full time
  // The electricals retailer banned hybrid working earlier this yearAO World boss John Roberts is sticking by his stance against hybrid working and has told employees to quit if they are not happy with the new policy.
  The flexible working option has been scrapped for the retailer’s 3,000 staff since the beginning of the year, The Times reported.
  The chief executive admitted several empl
  
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• Asos: fast fashion groups fall out of fashion fast

  12-05-2023 06:00
  First wave of sector disrupters find themselves under pressure from newcomers
  
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• No more cartoon time: children’s watches grow up

  12-05-2023 05:00
  
  Frustration at the toylike offerings aimed at youngsters is spawning more durable designs with added educational value
  
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• Dial shifts on what defines a woman’s watch

  12-05-2023 05:00
  
  The line between explicitly male and female designs is blurring, as buying habits and tastes change along with gender identity itself
  
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• River Island’s takeback scheme with Reskinned launches eBay shop for pre-loved items

  12-05-2023 02:00 via theretailbulletin.com
  
  River Island is to launch an eBay shop selling pre-loved items as part of its takeback scheme with Reskinned. The move forms part of the fashion retailer’s... View Article
  
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• Puma appoints new managing director of Indian business

  12-05-2023 02:00 via theretailbulletin.com
  
  Sportswear brand Puma has appointed Karthik Balagopalan as the new managing director of Puma India. The country is one of Puma’s fastest growing markets. Previously Puma’s global... View Article
  
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• John Lewis to offer specialist advice to families on internet safety

  12-05-2023 02:00 via theretailbulletin.com
  
  John Lewis has become the first department store in the UK to offer specialist advice to families on internet safety. The retailer has teamed up with... View Article
  
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• CMO Group hails year of revenue growth and company development

  12-05-2023 02:00 via theretailbulletin.com
  
  CMO Group, the UK’s largest online-only retailer of building materials, increased its revenue by 9% to £83.1 million in 2022 following strong second half trading. The... View Article
  
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• Arket to open first physical store in Latvia

  12-05-2023 02:00 via theretailbulletin.com
  
  Arket is to open its first store in Latvia as part of its international expansion plans. The flagship in Riga will be a modern-day market offering... View Article
  
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