Retail news

• Ted Baker owner Authentic Brands Group buys footwear retailer Hunter

  02-06-2023 17:06 via retailgazette.co.uk
  
  // Authentic Brand Group has snapped up the intellectual property of footwear retailer Hunter
  // The Ted Baker owner will outsource the retailer’s designs and operationsTed Baker owner Authentic Brands Group has acquired the intellectual property of footwear retailer Hunter.
  The group confirmed on Friday it had snapped up the brand for an undisclosed sum after moving into pole position as preferred bidder. Sky News previously reported that the deal could value the retailer as much as
  
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• Frasers Group to axe 200 jobs as it trims costs

  02-06-2023 16:39 via retailgazette.co.uk
  
  // Frasers Group is to cut 200 jobs at its Shirebrook and London head offices
  // The group has entered a consultation period with staffFrasers Group is to axe 200 roles at its head offices in Shirebrook and London as it looks to drive efficiencies across the business.
  The retail giant has entered a consultation period with 20% of its head office staff at risk of redundancy.
  The move is part of a streamlining process following a recent acquisition spree which saw the group snap up 5 fas
  
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• M&S expands ‘Brands at M&S’ platform as it eyes market share growth

  02-06-2023 15:48 via retailgazette.co.uk
  
  // M&S adds Skechers, Crocs and Toms to its ‘Brands at M&S’ banner
  // Over 200 styles will be introduced to the retailer’s websiteM&S has added Skechers, Crocs and Toms to its online platform as the retail giant looks to grow its market share in footwear.
  The three brands will add 200 new styles to the ‘Brands at M&S’ platform, bringing the total number of footwear brands on the retailer’s website to 15.
  M&S said the partnerships come &ldqu
  
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• Revolution Beauty narrows losses despite drop in sales

  02-06-2023 13:14 via retailgazette.co.uk
  
  // Revolution Beauty pre-tax losses narrow to £13.4m in the six months to 31 August 2022
  // The group said a surge in retail sales due to shoppers returning to the high street helped to offset losses in its digital businessRevolution Beauty’s half-year losses have more than halved, despite sales falling, as it looks to recover from an audit investigation which found several issues with its accounts.
  The beauty group posted an after-tax loss of £13.4m in the six months to 3
  
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• Asos demoted from FTSE 250 as shares plunge

  02-06-2023 12:37 via retailgazette.co.uk
  
  // Asos drops off FTSE 250 index as shares plummet
  // The fashion retailer will trade on the FTSE SmallCap index from June 16Asos, which was valued at more than £7bn just over two years ago, has been booted off the FTSE 250 index causing its shares to hit a 12-month low.
  The fashion retailer’s shares dropped 3% to 333p on Thursday, leaving it at a value of £400m, following FTSE Russell’s latest quarterly reshuffle.
  As a result, Asos will move to the FTSE SmallCap index on
  
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• Amazon’s UK tax bill jumps to £781m

  02-06-2023 09:49 via retailgazette.co.uk
  
  // Amazon’s UK tax bill rises to £781m as sales top £24bn
  // The retail giant benefited from a £7.7m tax credit under Rishi Sunak’s super-deduction schemeAmazon’s UK arm paid £781m in direct taxes last year, despite sales hitting £24bn, as it continued its expansion across the country.
  According to The Guardian, the retail giant’s main UK division benefited from a £7.7m tax credit on its £1.6bn investment into infrastructure
  
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• Amazon UK tax bill jumps to £781m

  02-06-2023 09:49 via retailgazette.co.uk
  
  // Amazon UK tax bill rises to £781m as sales top £24bn
  // The retail giant benefited from a £7.7m tax credit under Rishi Sunak’s super-deduction schemeAmazon UK arm paid £781m in direct taxes last year, despite sales hitting £24bn, as it continued its expansion across the country.
  According to The Guardian, the retail giant’s main UK division benefited from a £7.7m tax credit on its £1.6bn investment into infrastructure under Rishi Suna
  
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• Retailers lobby to delay new recycling scheme

  02-06-2023 09:11 via retailgazette.co.uk
  
  // British retailers step up its campaign to delay the Extended Producer Responsibility for Packaging (EPR) scheme due to come into force in 2024
  // Retailers, food producers and trade bodies warn the new recycling scheme will lead to higher costs for consumersSeveral British retailers and food manufactures has increased its lobbying for the government to delay its recycling reforms that are due to come into effect next year.
  According to The Guardian, bosses have used the re
  
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• Tesco hikes supplier distribution fees for third time in three years

  02-06-2023 08:45 via retailgazette.co.uk
  
  // Tesco rises supplier distribution fees for third time in as many years
  // The supermarket said it can no longer afford to subsidise companies using its primary distribution service.Tesco has raised supplier distribution fees for the third time in three years as it looks to cover the growing costs of online fulfilment.
  The supermarket giant has given suppliers four weeks’ notice of the change in rates, which will see fees rise by nearly 30% since the pandemic, The Grocer reported.
  T
  
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• Is private equity ownership slowly killing retail?

  02-06-2023 02:02 via retailgazette.co.uk
  
  The tale of Britain’s two private equity-owned supermarket buyouts just took a new turn as Asda owners the Issa brothers unveiled a £2.3bn merger between the supermarket chain and the UK and Ireland operations of their other business, petrol station giant EG Group.
  The proceeds from the tie-up will be used to pay down EG Group’s climbing debt pile.
  However, it will heap further financial liabilities onto Asda, which is already weighed down by the debts that were piled onto the
  
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• Travis Perkins launches Online Trade Counter

  02-06-2023 02:00 via theretailbulletin.com
  
  Travis Perkins has launched a new Online Trade Counter and shared access feature as the builders’ merchant looks to make shopping online frictionless for its customers.... View Article
  
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• Ro&Zo expand to JD Williams

  02-06-2023 02:00 via theretailbulletin.com
  
  UK Fashion brand Ro&Zo are launching online at Fashion & Lifestyle platform; JD Williams, a leading brand within N Brown Group. From June 1, Ro&Zo will... View Article
  
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• Revolution Beauty losses narrow despite revenue decline

  02-06-2023 02:00 via theretailbulletin.com
  
  Revolution Beauty has announced a decline in half year revenue in the delayed publication of its interim results. In the six months to 31 August 2022,... View Article
  
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• Primark opens first store in Slovakia

  02-06-2023 02:00 via theretailbulletin.com
  
  Primark has opened its first store in Slovakia as it continues its expansion in Central and Eastern Europe. Situated in the Eurovea Shopping Centre in Bratislava,... View Article
  
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• Nike appoints new leader for Converse

  02-06-2023 02:00 via theretailbulletin.com
  
  Nike has announced the appointment of a new chief executive for Converse. Following Scott Uzzell’s move to the new role of VP/GM, North America for Nike,... View Article
  
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• Marks & Spencer protects price of school uniforms

  02-06-2023 02:00 via theretailbulletin.com
  
  Marks & Spencer has committed to protecting the price of its school uniform range for a third year running as it looks to help customers during... View Article
  
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• Isle of Man rum loved by celebrities gets Harrods boost

  02-06-2023 02:00 via theretailbulletin.com
  
  RUM distilled in an old milking shed will soon be sold in Harrods as Isle-of-Man-based spirits company continues its London takeover. With bright, art-led labels designed... View Article
  
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• IKEA owner acquires supply chain software solution provider

  02-06-2023 02:00 via theretailbulletin.com
  
  Ingka Group, the largest owner and operator of IKEA stores in 31 countries, has acquired US-based supply chain software solution provider Made4net as part of plans... View Article
  
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• Business leaders not confident dealing with trans employees and their treatment in the workplace

  02-06-2023 02:00 via theretailbulletin.com
  
  Leading law firm Irwin Mitchell has surveyed UK business leaders and managers to find out if they feel confident in dealing with a grievance from a... View Article
  
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• Authentic Brands Group acquires IP of British heritage brand Hunter

  02-06-2023 02:00 via theretailbulletin.com
  
  US private equity-backed Authentic Brands Group (ABG), which owns Reebok and Ted Baker, has completed the acquisition of British heritage brand Hunter. The announcement comes as... View Article
  
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• ASOS launches incubator for ethnic minority-owned brands

  02-06-2023 02:00 via theretailbulletin.com
  
  ASOS has teamed up with Fashion Minority Report to launch an incubator programme that helps ethnic minority-owned brands. Called ScaleUP, the programme will give two successful... View Article
  
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