Retail news

• Halfords shares falter after auditor BDO extends deadline

  15-06-2023 17:49 via retailgazette.co.uk
  
  // Halfords auditor BDO extends publication of the retailer’s annual reports
  // The motor and cycling retailer said, despite the delay, it expects to report an underlying pre-tax profit of £50m to £60mHalfords has delayed the publication of its annual report after its auditor BDO requested more time to complete audit procedures.
  The motor and cycling retailer, which was meant to update this morning, will now publish its preliminary results next Wednesday.
  The retailer reassured
  
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• In pictures: EE steps into experiential retail with first Studio flagship

  15-06-2023 16:21 via retailgazette.co.uk
  
  // EE opens its first experiential retail flagship in Westfield London
  // The Studio format will be rolled out to Cardiff, Manchester’s Trafford Centre and Bluewater over the summer.EE will open the doors to its new Westfield London flagship on Friday as it steps into the world of experiential retail.
  The 4,230 sq ft space, located on the first floor and dubbed the EE studio, includes a gaming area, digital spa and co-work space.
  The new format is part of EE’s new retail strateg
  
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• Roundtable: Ways to enable the retail workforce to maintain operational excellence

  15-06-2023 15:19 via retailgazette.co.uk
  
  Retailers meet to discuss how to better engage, motivate, and develop the workforce – and drive better cross-department communication that drives commercial success.
  For organisations – including retailers – to achieve operational excellence they need to enable all employees to perform well, allow staff to learn, grow, and prepare for future roles, and create an environment that motivates, engages, and is inclusive.
  These were some of the key findings revealed in a new report b
  
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• Tesco Clubcard named UK’s top loyalty scheme as it “gets the basics right”

  15-06-2023 14:34 via retailgazette.co.uk
  
  // Tesco Clubcard has been named the UK’s favourite digital retail loyalty scheme
  // Asda Rewards made it into the top three, less than a year after its initial launchTesco Clubcard has been named the UK’s favourite digital retail loyalty scheme as it “gets the basics right” for shoppers amid the ongoing cost-of-living crisis.
  New research has revealed that over a third of respondents (35%) named Tesco’s Clubcard loyalty programme as their top pick, putting it stree
  
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• Jacamo owner N Brown sales plunge after bad spring weather

  15-06-2023 14:25 via retailgazette.co.uk
  
  // N Brown sales nosedived during the 13-week period to 3 June
  // Poor spring weather and low consumer confidence were both blamed for the company’s poor performanceOnline group N Brown sales have plummeted almost 10% in a first quarter that was hit by “poor early spring weather and low consumer confidence”.
  Product sales sunk 11.9% during the 13-week period to 3 June as the group’s financial services revenue also dipped 6.3%.
  Bad weather over the spring and low consumer
  
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• How can the luxury fashion sector go the extra mile?

  15-06-2023 13:23 via retailgazette.co.uk
  
  You’re doing great (but you could be better!)
  How smart scheduling and employee engagement can give luxury retailers the edge
  The luxury retail sector remains strong despite the downturn, with a worth of over €1.15 trillion*. However, luxury retailers share the same staffing and engagement challenges as the rest of the industry. It is crucial for them to have effective people strategies to handle consumer peaks and ensure motivated employees who embody the brand experience.
  The retail
  
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• Shaftesbury rides off the success of West End, with 13% sales surge

  15-06-2023 13:21 via retailgazette.co.uk
  
  // Shaftesbury Capital saw a 13% jump in its tenants’ like-for-like sales as shoppers flood to London’s West End
  // The landlord highlighted “positive trends” amid overseas tourists returnShops and restaurants in London’s West End are witnessing a customer boom, surpassing pre-pandemic levels as Shaftesbury expects another wave of clientele surge over the summer.
  West End landlord Shaftesbury Capital, which owns more than 40 acres in London’s theatre district,
  
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• Landlords cheer West End rebound as retailers sales soar

  15-06-2023 13:21 via retailgazette.co.uk
  
  // Shaftesbury Capital saw a 13% jump in its tenants’ like-for-like sales as shoppers flood to London’s West End
  // The landlord highlighted “positive trends” amid overseas tourists returnShops and restaurants in London’s West End are witnessing a customer boom, surpassing pre-pandemic levels as Shaftesbury expects another wave of sales surge over the summer.
  West End landlord Shaftesbury Capital, which owns more than 40 acres in London’s theatre district, sai
  
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• [Ebook] Pricing with agility: How to protect your margins during heightened inflation

  15-06-2023 13:16 via retailgazette.co.uk
  
  With double-digit rates worldwide, inflation is putting companies under growing pressure. Inflation goes hand in hand with higher costs, and businesses face the risk of eroded margins if they don’t transfer cost increases to customers. As costs increase more frequently, companies can harness the power of pricing to mitigate the impact of inflation on profitability and drive growth.
  Download our latest ebook to discover how to implement a granular pricing framework that empowers you to navi
  
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• THG Ingenuity CEO: ‘We don’t talk about digital transformation, we just do it’

  15-06-2023 13:00 via retailgazette.co.uk
  
  Never has a year in my career gone as quickly as the last 12 months.
  The reason is simple – the environment I work in encourages me to be the best version of myself. The opportunity I see today remains as incredible as it was a year ago. And the task at hand requires relentless focus and stretch. As they say, time flies when you’re having fun!
  People have asked me why I joined THG. I answer in two parts:In Matthew Moulding, I found a brilliant entrepreneur who deeply cares about the
  
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• Co-op aims to break the ‘class ceiling’ with social mobility campaign

  15-06-2023 12:13 via retailgazette.co.uk
  
  // Co-op looks to break the ‘class ceiling’ through new social mobility campaign
  // Almost a fifth of adults believe their background has caused them to miss out on job opportunitiesCo-op has launched a new nine-point business plan on social mobility as it looks to break the ‘class ceiling’.
  This comes as research by ICM conducted on behalf of Co-op found that almost a fifth of UK adults believe they have missed out on a job due to their background, accent or social statu
  
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• Philip Day’s Edinburgh Woollen Mill owes creditors £167m three years after collapse

  15-06-2023 09:56 via retailgazette.co.uk
  
  // Edinburgh Woollen Mill Group owes creditors around £167m
  // The retail business collapsed into administration in November 2020
  Unsecured creditors are still owed £167m after the collapse of Philip Day’s Edinburgh Woollen Mill Group empire almost three years ago, reports the Times.
  The group of retail assets, which included Jaeger, Peacocks, Bonmarché, and Edinburgh Woollen Mill, fell into administration in 2020 after the pandemic hammered sales.
  Documents seen by
  
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• Tesco extends Clubcard deadline for customers to redeem their points after IT issues

  15-06-2023 09:25 via retailgazette.co.uk
  
  // Tesco Clubcard customers have until tonight to redeem their points for triple the amount when used against a ‘Reward Partner’
  // The points are currently worth three times their value when spent with reward partners such as Virgin Atlantic and Pizza ExpressTesco Clubcard users now have until tonight to triple the value of points to spend on reward partners  due to shoppers across from the UK experiencing IT issues yesterday.
  The value was originally due to be reduced to
  
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• Asos returns to profitability despite 14% sales dip in latest quarter

  15-06-2023 09:01 via retailgazette.co.uk
  
  // Asos sales slip 14% as the embattled fashion giant focuses on profits
  // The group returned to profitability with core earnings up more than £20m year-on-yearAsos has hailed a return to profitability as its turnaround strategy delivers, despite posting a 14% drop in revenue.
  The online fashion giant said adjusted earnings before interest and tax went up more than £20m on year in the three months ended May 31, putting the retailer on track to achieve adjusted EBIT guidance of
  
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• Asos returns to profitability as Frasers ups stake to over 10%

  15-06-2023 09:01 via retailgazette.co.uk
  
  // Asos sales slip 14% as the embattled fashion giant focuses on profits
  // The group has returned to profitability with core earnings up more than £20m year-on-yearAsos has hailed a return to profitability as its turnaround strategy delivers, despite posting a 14% drop in revenue.
  The online fashion giant said adjusted earnings before interest and tax went up more than £20m on year in the three months ended May 31, putting the retailer on track to achieve adjusted EBIT guidance
  
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• Issa brothers close to £650m Asda property sale

  15-06-2023 08:36 via retailgazette.co.uk
  
  // Asda owners the Issa Brothers are closing in on a deal worth £650m to sell of the supermarket’s property empire
  // NYC investor Realty Income Corporation is said to be close to buying about 25 Asda stores on leases of up to 20 yearsThe billionaire Issa brothers are on the cusp of successfully selling off a piece of Asda’s property portfolio to a US investor in a deal worth £650m, according to The Times.
  Mohsin and Zuber Issa, who bought the the supermarket from Wa
  
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• Interview: How Lego is building its empire, brick by brick

  15-06-2023 08:10 via retailgazette.co.uk
  
  The Lego Group has become synonymous with creativity, play, and – of course, its famous interlocking bricks.
  The toy giant, which started off selling wooden toys before transitioning to build-your-own playsets in 1958, became a household name in the 70s and has dominated the industry ever since.
  Throughout its rise to fame, Lego has stuck closely to its founding principles of encouraging kids -and adults- to play well.
  As the group continues its retail expansion, Retail Gazette sits down w
  
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• Frasers vs Next: How big are their growing retail empires?

  15-06-2023 08:00 via retailgazette.co.uk
  
  Frasers Group and Next are emerging as the industry’s biggest buyers of businesses in distress.
  The very different retail giants have embarked on buying sprees over the last 18 months, snapping up 14 retailers between them.
  Just this week the Mike Ashley-owned retail empire snapped up a £75m stake in AO World – equivalent to 19% while the group has also raised its stake in Asos for the second time this month to 9.9% as speculation over a takeover of the embattled online fashion
  
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• The Perfume Shop opens in The Broadway Centre, Bradford

  15-06-2023 02:00 via theretailbulletin.com
  
  The Perfume Shop opens their new and improved experiential store in The Broadway Centre, Bradford on Thursday 15th June 2023. The retailer revealed a new and... View Article
  
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• Sainsbury’s cuts price of own brand toilet paper

  15-06-2023 02:00 via theretailbulletin.com
  
  Sainsbury’s is cutting the price of its own brand toilet paper due to the price of pulp falling for the first time in two years. The... View Article
  
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• N Brown sales impacted by poor spring weather

  15-06-2023 02:00 via theretailbulletin.com
  
  N Brown Group, the owner of JD Williams, Simply Be and Jacamo, has posted a drop in first quarter sales after poor early spring weather and... View Article
  
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• Liverpool One Foundation celebrates £3m grant milestone

  15-06-2023 02:00 via theretailbulletin.com
  
  Grosvenor has revealed that the Liverpool ONE Foundation, which invests and supports young people’s mental health across the Liverpool City Region, is marking a huge milestone with... View Article
  
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• Lids appoints head of brand and collaborations

  15-06-2023 02:00 via theretailbulletin.com
  
  Sportswear retailer Lids has appointed Ariel Sandler as head of brand and collaborations. Sandler previously worked as director of brand marketing at Perry Ellis and prior... View Article
  
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• Co-op campaigns to break the ‘class ceiling’

  15-06-2023 02:00 via theretailbulletin.com
  
  Co-op is taking action to break the ‘Class Ceiling’, as new research has found that a significant number of people believe that what they achieve in... View Article
  
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• Charlotte Tilbury launches her first app

  15-06-2023 02:00 via theretailbulletin.com
  
  Charlotte Tilbury, founder of Charlotte Tilbury Beauty, has launched her first-ever app, aiming to revolutionize the beauty industry by making beauty more accessible and simplified for... View Article
  
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• ASOS posts third quarter profit

  15-06-2023 02:00 via theretailbulletin.com
  
  ASOS has returned to profitability in its third quarter as its “Driving Change” turnaround strategy delivers results. In the three months to 31 May, EBIT rose... View Article
  
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• Aldi to serve up first ever Swing Ball Championships during Wimbledon

  15-06-2023 02:00 via theretailbulletin.com
  
  Aldi will be bringing some good value fun to SW19 by hosting the first ever Aldi Swing Ball Championships during the first week of the Wimbledon... View Article
  
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