Retail news

• Of Ashley, Asos, and unconventional sources

  17-05-2023 17:52
  Blogwatching the tag-trade rumourtrage
  
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• How Authentic Brands Group transforms brands with “broken business models”

  17-05-2023 16:00 via retailgazette.co.uk
  
  // Ted Baker owner Authentic Brands Group’s EMEA president spills on the US giant’s acquisition and transformation strategy
  // ABG said it elevates new additions by “tapping into each of the brand’s rich histories and timeless appeal”Authentic Brands Group president for EMEA & India Henry Stupp has described the US group’s playbook when it comes to acquiring new and sometimes non-fully functional brands, which he said “separates us from other people
  
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• JD Sports heads for £1bn profits as it says trainers are ‘affordable luxury’

  17-05-2023 15:25
  
  Retailer to step up expansion in US and Europe as price rises help increase bottom lineJD Sports has said it is on track to hit £1bn of profits this year as it steps up expansion in the US and Europe in a bet that the trend for trainers and sports leisurewear will roll on.Régis Schultz, the retail group’s chief executive who took over last summer, said JD’s young shoppers had more opportunity to get work, amid staff shortages in all its key markets, and “whenever th
  
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• In pictures: Sainsbury’s opens energy-efficient flagship supermarket

  17-05-2023 15:05 via retailgazette.co.uk
  
  // Sainsbury’s has launched a new flagship supermarket which plans to use only half the energy of a similar-sized store
  // The supermarket will operate using 100% renewable electricity and will not rely on any fossil fuels.Sainsbury’s has launched a new flagship supermarket in Hook which plans to use only half the energy of a similar-sized store and 25% less electricity than its other most energy-efficient supermarkets.
  The new 25,000 sq ft supermarket will operate using 100% renewab
  
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• Harrods boss tells government to ‘stop burying its head’ and bring back tax-free shopping

  17-05-2023 09:57 via retailgazette.co.uk
  
  // Harrods boss Michael Ward calls on the UK government to reintroduce tax-free shopping
  // “We’re in the middle of a difficult time for the UK economy and the government should be seizing opportunities to grow.”Harrods’ managing director has urged the UK government to “stop burying its head” and u-turn its removal of VAT-free shopping for overseas shoppers.
  The luxury department store‘s Michael Ward told The Times: “We’re in the middle of a
  
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• JD Sports shrugs off profit hit from £550mn charge

  17-05-2023 09:35
  UK leisurewear group expects profits to reach £1bn mark this year as young shoppers scoop up trainers and hoodies
  
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• JD Sports profit falls after £550mn charge

  17-05-2023 09:35
  UK leisurewear group says it expects to hit £1bn mark this year as young shoppers scoop up trainers
  
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• Watches of Switzerland posts record year but warns on ‘modest sales decline’

  17-05-2023 09:20 via retailgazette.co.uk
  
  // Watches of Switzerland posts strong sales and profits
  // However, the retailer forecast a “modest sales decline” in the first quarter due to the strong previous year and “product intake timing”Watches of Switzerland has hailed a “strong” full-year performance in line with guidance on Wednesday, as it reported record revenue but warned of an expected sales decline in the first quarter.
  In an update for the year to 30 April, the luxury watch retailer saw grou
  
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• Watches of Switzerland hails record revenues but warns on ‘modest sales decline’ in Q1

  17-05-2023 09:20 via retailgazette.co.uk
  
  // Watches of Switzerland posts a strong year of revenue and profitability
  // However the retailer forecast a “modest sales decline” in the first quarter due to the strong previous year and “product intake timing”Watches of Switzerland has hailed a “strong” full-year performance in line with guidance on Wednesday, as it reported record revenue and profitability but warned of an expected sales decline in the first quarter.
  In an update for the year to 30 April,
  
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• How Boohoo plans to get back to growth – with help from Debenhams

  17-05-2023 09:00 via retailgazette.co.uk
  
  Fast fashion retailers continue to grapple with the ongoing cost-of-living crisis and its effect on consumers as well as a resurgence of physical retail with shoppers heading back to physical stores.
  Boohoo is no different as it slumped to a £91 million pre-tax loss in the year to the end of February this week.
  The group, which owns brands including PrettyLittleThing, Nasty Gal, MissPap and Boohoo itself, said its profits fell due to dampened consumer demand, as well as rising operating co
  
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• JD Sports’ profit to top £1bn this year as it wins young shoppers

  17-05-2023 08:58 via retailgazette.co.uk
  
  // JD Sports posts a record profit before tax and exceptional items of £991.4 million
  // Revenue in 2022-23 was £10.1 billion , up from £8.6 billionJD Sports said it expected profit to exceed £1 billion for the first time this year after a record result in the year to January 28 as its offering proves popular with young shoppers.
  The sportswear retailer posted profit before tax and exceptional items of £991.4 million – a record result that was ahead of guidanc
  
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• JD Sports profit to hit £1bn this year as it wins young shoppers

  17-05-2023 08:58 via retailgazette.co.uk
  
  // JD Sports posts a record profit before tax and exceptional items of £991.4m
  // Sales in 2022-23 were £10.1bn, up from £8.6bnJD Sports expects profit to exceed £1bn for the first time this year as its offering proves popular with young shoppers.
  The sportswear retailer posted pre-tax profit and exceptional items of £991.4m in the year to 28 January 2023 – a record result that was ahead of guidance and up from £947.2m a year earlier.
  For 2023-24 it fore
  
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• Greggs wins right to late-night trading at its Leicester Square flagship

  17-05-2023 08:34 via retailgazette.co.uk
  
  // Greggs has won the right to sell late-night sausage rolls at its flagship Leicester Square store
  // The agreement means the store can stay open until midnight on Sunday to Wednesday, and until 2am on Thursday to SaturdayGreggs has won the right to sell late-night sausage rolls at its Leicester Square branch.
  The bakery retailer has reached an agreement with Westminster City Council that allows it to sell some baked goods and hot drinks until 02:00 on certain nights.
  Greggs had originally plan
  
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• Smythson appoints Paolo Porta as chief executive

  17-05-2023 02:00 via theretailbulletin.com
  
  Smythson, the luxury stationery and leather goods brand, has appointed Paolo Porta as its new chief executive. Porta was previously held the same position at Hunter... View Article
  
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• Shoe Zone boosted by positive half year

  17-05-2023 02:00 via theretailbulletin.com
  
  Shoe Zone has been boosted by a “robust and positive” performance in the first half of its financial year after revenue increased by 7.9% to £75.4... View Article
  
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• Sainsbury’s opens its most energy-efficient supermarket ever

  17-05-2023 02:00 via theretailbulletin.com
  
  Sainsbury’s has launched a new flagship supermarket in Hook, Hampshire, which is projected to use only half the energy of a similar-sized Sainsbury’s store and 25%... View Article
  
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• Pepco brand launches in Portugal to expand its footprint across Europe

  17-05-2023 02:00 via theretailbulletin.com
  
  Discount retailer Pepco Group, and owner of the Pepco and Dealz brands across Europe and Poundland, today announces the opening of its first Pepco store in... View Article
  
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• One Stop introduce a price lock campaign on everyday essentials

  17-05-2023 02:00 via theretailbulletin.com
  
  Retail convenience chain One Stop have announced a new price lock on over 80 products as a part of their Low Everyday Prices campaign. The initiative... View Article
  
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• JD Sports annual pre-tax profit to exceed £1 billion

  17-05-2023 02:00 via theretailbulletin.com
  
  JD Sports is expecting its pre-tax profit to exceed £1 billion in the current financial year as it continues to attract younger shoppers. In a year-end... View Article
  
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• H&B’s store colleagues lobby to change Manchester store sign to read, ‘Haaland & Barrett’

  17-05-2023 02:00 via theretailbulletin.com
  
  Wellness retailer, Holland & Barrett is considering changing its Manchester Market Street store sign to ‘Haaland & Barrett’ in honour of Manchester City player, Erling Haaland, after... View Article
  
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• Comarch Among Top Loyalty Technology Solution Providers

  17-05-2023 02:00 via theretailbulletin.com
  
  Comarch, a software house with three decades of experience, has been recognized by The Forrester Wave™: Loyalty Technology Solutions, Q1 2023 report as a Strong Performer... View Article
  
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