Retail news

• Greggs wins right to late-night opening for Leicester Square bakery store

  16-05-2023 18:29
  
  Chain’s heated debate with council because of fears over antisocial behaviour is resolvedA heated debate over Greggs’ right to trade into the early hours in central London, amid warnings it could cause a wave of crime and disorder, has been resolved.Greggs said it could now open its Leicester Square flagship store until 2am from Thursday to Saturday and until midnight through the rest of the week after Westminster council allowed it to sell hot drinks, such as tea and coffee, as well
  
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• Selfridges launches ‘The Stock Market’ pre-owned pop-up

  16-05-2023 18:15 via retailgazette.co.uk
  
  // Selfridges has launched a month-long circular shopping experience in its London store called The Stock Market at the Corner Shop.
  // The launch takes place as part of Worn Again, a season of second-hand and circular shopping experiences at Selfridges.Selfridges has launched a month-long circular shopping experience in its London store called The Stock Market at the Corner Shop.
  Customers at The Stock Market can have their items valued by a team of experts with the option to sell in exchange f
  
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• Mamas & Papas launches resale and repair initiative

  16-05-2023 18:08 via retailgazette.co.uk
  
  // The initiative ‘Loved for Life’ will see Mamas & Papas expand into the resale and second-hand market for the first time
  // The retailer will offer services to reuse, refresh or recycle items such as pushchairs and baby clothes.Mamas & Papas has launched a new ‘Loved for Life’ initiative, which offers services to reuse, refresh or recycle items such as pushchairs and baby clothes.
  The brand will expand into the resale and second-hand market for the first time, o
  
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• Poundstretcher slims down workforce by 1,000 staff in 12 months

  16-05-2023 17:26 via retailgazette.co.uk
  
  // Poundstretcher has reduced the number of its staff by 1,000
  // Turnover fell by 16% from £325.3 million to £273 millionPoundstretcher has slimmed down its workforce by over 1,000 retail staff in the last year, as it reports a drop in financial earnings for 2022.
  According to the British discounter’s latest full-year financial report, Poundstretcher has approximately 3,640 working retail staff as of this month, down from 4,645 staff in the year to 31 March 2022
  
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• Poundstretcher loses 1,000 staff as profits nosedive

  16-05-2023 17:26 via retailgazette.co.uk
  
  // Poundstretcher has reduced the number of its staff by 1,000
  // The discount retailer posted a 16% drop in sales to £273m in the year to 31 March 2022Poundstretcher has slimmed down its workforce by more than 1,000 retail staff in the last year, as it full-year profits plunge.
  The discounter lowered its retail workforce from 4,645 staff to 3,640 in the year to 31 March 2022 according to its latest annual accounts.
  Sales for the discount retailer dropped 16% last year to £273 millio
  
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• Boohoo seeks to reassure investors after slumping to loss

  16-05-2023 15:54
  Online fashion retailer expects to return to profit after cutting costs and reducing inventory
  
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• Boohoo reassures investors after slumping to loss

  16-05-2023 15:54
  Online fashion retailer expects to return to profit after cutting costs and reducing inventory
  
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• Ted Baker owner Authentic Brands Group closes in on Hunter deal

  16-05-2023 14:10 via retailgazette.co.uk
  
  // Authentic Brands Group closes in on discussions about acquiring footwear retailer Hunter
  // The deal, which could value the retailer as much as £100m, is expected to be finalised “within weeks”Ted Baker owner Authentic Brands Group is set to acquire footwear retailer Hunter after being named as the brand’s preferred bidder.
  The deal, which would put an end to a lengthy sales process, could value the retailer as much as £100m, Sky News reported.
  Baozun, a Chi
  
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• Greggs wins battle over sale of hot food in Leicester Square

  16-05-2023 12:49
  
  Bakery chain was refused licence to trade overnight over fears of antisocial behaviourA battle between the right to sell potato wedges and sausage rolls into the early hours versus police warnings about a wave of crime and disorder has been won by Greggs.The bakery chain has prevailed in the row about late-night trading at its flagship Leicester Square outlet, reaching agreement with Westminster Council that will allow it to sell hot food until 2am. Continue reading...
  
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• John Lewis Partnership to offer paid leave to all foster carers

  16-05-2023 11:48 via retailgazette.co.uk
  
  // John Lewis Partnership offers new and existing foster carers within its company additional paid leave
  // The retailer has received a Foster Friendly accreditation via the Fostering Network for its ongoing support to care experienced peopleJohn Lewis Partnership is to offer additional paid leave to all new and existing foster carers within its business.
  From today, John Lewis and Waitrose partners will receive an additional week of leave as the high street stalwart looks to strengthen its
  
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• Shoe Zone profits down despite sales boost

  16-05-2023 11:14 via retailgazette.co.uk
  
  // Shoe Zone pre-tax profits drop more than 50% despite an uptick in sales
  // The footwear retailer posted a 52% drop in pre-tax profits to £1.5m in the 26 weeks to 1 April 2023Shoe Zone has posted a jump in half year sales but saw profits more than halve due to climbing inflationary pressures.
  While sales rose 7.9% on 2022, pre-tax profits for the footwear retailer plunged 52% to £1.5m in the 26 weeks to 1 April 2023. When adjusted, pre-tax profit was £2.5m.
  The retailer
  
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• Boohoo swings to £91m loss as shoppers return more items

  16-05-2023 10:20
  
  Online fashion business loses out as shoppers return to high streets after Covid lockdownsBoohoo.com has dived almost £91m into the red as its annual sales fell and it wrestled with higher levels of returned products as shoppers stepped out of their easy-fit jogging bottoms and hoodies and back on to high streets.The online fast fashion business said sales fell 11% to £1.8bn in the year to 28 February, including a 9% fall in the UK. It warned that sales were likely to fall by as much
  
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• CMA launches grocery competition probe amid profiteering claims

  16-05-2023 10:11 via retailgazette.co.uk
  
  // The Competition and Markets Authority (CMA) launches a competition probe into the grocery sector
  // The investigation looks at whether failures in competition are contributing to rocketing food pricesThe Competition and Markets Authority has launched an investigation into competition in the grocery sector following allegations that supermarkets were profiteering from the cost-of-living crisis.
  The watchdog said the investigation will look “whether any failure in competition is cont
  
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• Asos shares tumble 20% as cash fears grow

  16-05-2023 09:32 via retailgazette.co.uk
  
  // Analysts warn of a further hit to sales as Asos posts heavy losses
  // Last week the online fashion giant posted first-half losses of £290.9 millionAsos has suffered another setback as City analysts warned of a further hit to sales just days after the retailer posted heavy losses.
  Shares in the online fashion giant plunged 20.7%, to their lowest level since 2010 after JP Morgan slashed its target price on Asos stock from 1000p to 610p.
  The analyst notes came after Asos posted first-half
  
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• Greggs’ store expansion and value offering fuels strong sales growth

  16-05-2023 09:05 via retailgazette.co.uk
  
  // Greggs saw strong sales growth in the first 19 weeks of 2023
  // Total sales in the 19 weeks to 13 May 2023 were £609m, up from £495m on the previous yearGreggs has delivered strong sales growth driven by ‘strong strategic progress’ and its store expansion programme, despite trading against a “challenging macroeconomic backdrop”.
  Like-for-like sales at the bakery retailer rose to £609m, up 17.1% for the first 19 weeks of 2023, while like-for-like
  
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• 7 retailers thriving due to the resurgence of the high street

  16-05-2023 08:59 via retailgazette.co.uk
  
  The pandemic led to online retail soaring to record highs. While some thought this was the ‘new normal’ in retail, since restrictions have eased shoppers have returned to the high street in their droves.
  In fact, footfall in April surged 7.2% thanks to the Easter bank holiday weekend, the latest figures from from MRI Springboard shows.
  With shopper numbers up, Retail Gazette takes a look at the retailers benefitting from the resurgence of the high street.
  Card FactoryCard Factory saw
  
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• Boohoo profit halves as the cost-of-living crisis hits fast fashion

  16-05-2023 08:48 via retailgazette.co.uk
  
  // Boohoo revenues fall in its year-end results
  // Sales slipped down 11% on last year while UK revenues were down 9% against last year
  Boohoo’s profits have halved as shoppers continue to face the ongoing cost-of-living crisis and many returned to physical stores post-pandemic.
  The online fast-fashion retailer made EBITDA of £63.3 million in the year to February 28, coming in slightly ahead of analyst expectations of £62.1 million but significantly down from the £125.1 m
  
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• M&Co owner to relaunch website next month

  16-05-2023 08:25 via retailgazette.co.uk
  
  // AK Retail is set to relaunch M&Co’s website next month after it acquired the retailer and its intellectual property in February
  // Chief executive Andrew Killingsworth: “We have big plans for the brand, with an immediate focus on M&Co’s digital presence”M&Co’s new owner AK Retail will relaunch the brand after buying it out of administration earlier this year.
  The new online platform will initially launch to include a range of womenswear products inclu
  
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• UK government urged to act as some meat and veg prices double in a year

  16-05-2023 07:00
  
  Which? and other groups call for intervention as food industry figures gather for summit with Rishi SunakSome meat and vegetable lines at supermarkets have almost doubled in price over the past year, research has found, prompting fresh calls for the government to intervene as food industry figures gather for summit in Downing Street.Annual inflation on supermarket own-label budget items stepped up to 25% in April, according to the data from consumer group Which?, while the rate of price increase
  
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• Krispy Kreme boss shrugs off UK’s tightening anti-obesity rules

  16-05-2023 06:00
  Mike Tattersfield says consumers can be ‘trained’ to look for its doughnuts in different sections of the store
  
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• Zara to relocate Leeds store to Trinity

  16-05-2023 02:00 via theretailbulletin.com
  
  Zara is relocate its Leeds store from Briggate to the Trinity Leeds shopping centre. The fashion retailer is upsizing its space through the move to a... View Article
  
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• Perfume Shop celebrates a scent-sational new addition in Walthamstow

  16-05-2023 02:00 via theretailbulletin.com
  
  The Perfume Shop has celebrated a scent-sational new addition of one of their new and improved experiential stores in The Selbourne Walk Shopping Centre, Walthamstow on... View Article
  
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• Oliver Bonas to opens its doors in Bath

  16-05-2023 02:00 via theretailbulletin.com
  
  Independent lifestyle retailer Oliver Bonas has announced the opening of a new 3,365 sq ft store in Bath. The retail space, which is split over two... View Article
  
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• Mamas & Papas launch Loved for Life circular offering

  16-05-2023 02:00 via theretailbulletin.com
  
  Nursery brand, Mamas & Papas, has launched a new ‘Loved for Life’ initiative which offers parents a range of sustainable services that encourages baby products to... View Article
  
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• JYSK Announces the Opening of its 30th UK Store in Warrington

  16-05-2023 02:00 via theretailbulletin.com
  
  This May, Danish retailer, JYSK, continues expansion in the UK with its 30th store in Warrington. The new store will be managed by David Marshall-Smith and... View Article
  
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• Hunter appoints interim chief executive

  16-05-2023 02:00 via theretailbulletin.com
  
  Hunter has appointed former Jigsaw head Chris Stephenson as its interim chief executive. According to Drapers, he will take over from Paolo Porta who has now... View Article
  
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• Greggs posts strong sales growth

  16-05-2023 02:00 via theretailbulletin.com
  
  Greggs has said it put in a strong performance in the first 19 weeks of 2023 despite a challenging trading backdrop. The food-to-go retailer posted a... View Article
  
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• Good friends MBE Lioness Jill Scott and Hollyoaks Actor Owen Warner open up about anxiety

  16-05-2023 02:00 via theretailbulletin.com
  
  The theme for Mental Health Awareness Week 2023  is anxiety and the campaign provides an opportunity for organisations to start a conversation and improving awareness around... View Article
  
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• Boohoo posts drop in sales and profit

  16-05-2023 02:00 via theretailbulletin.com
  
  Online fashion retailer Boohoo has posted a drop in full year sales and profit following the impact of the cost of living crisis. In the 12... View Article
  
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• Angling Direct appoints new chief financial officer

  16-05-2023 02:00 via theretailbulletin.com
  
  Fishing tackle and equipment retailer Angling Direct has appointed Sam Copeman as group chief financial officer. Due to join the business  on 5 June, he will... View Article
  
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• A strategic approach to executing a successful peak season

  16-05-2023 02:00 via theretailbulletin.com
  
  With 25+ years of experience as a leading eCommerce order fulfilment provider for the world’s leading brands, PFS knows a thing or two about supporting peak... View Article
  
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• UK retailers raise prices of own-label ranges faster than those of brands

  16-05-2023 01:01
  Research shows cost of offerings often marketed as budget surging even as they prove a hit with shoppers
  
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