Retail news

• Boohoo calls for leadership shake-up at Revolution Beauty

  19-06-2023 17:46 via ft.com
  Fast-fashion chain is a large shareholder in beleaguered ecommerce cosmetics group
  
  Read more

• Next raises profit forecast as salary rises and warm weather spur sales

  19-06-2023 17:40 via ft.com
  UK high street bellwether reports better than expected performance as wage settlements kick in
  
  Read more

• Next upgrades profit forecast after warm weather helps sales

  19-06-2023 17:09
  
  Retailer, which is considered good barometer of consumer spending, also cites pay raises across UKWarmer weather and pay rises for workers have increased sales at Next in recent weeks, prompting the clothing and homeware retailer to upgrade its profit forecast for this year.The company, which has about 500 stores and is considered a good barometer of consumer spending, said in a surprise update that there had been an “over-performance” in sales over the past seven weeks, sending its
  
  Read more

• Next upgrades profit guidance as sales improve thanks to warmer weather

  19-06-2023 15:13 via retailgazette.co.uk
  
  // Next sales rise 9.3% thanks to warmer weather and continued wage increases
  // The retailer is upgrading its full price sales guidance for the full year by £137m and its full yearprofit guidance by £40m to £835mNext has seen full-price sales rise 9.3% over the past seven weeks, compared with guidance predicting a 5% decline thanks to warmer weather and continued wage increases.
  The high street giant said said trading has been “materially better” than the sale
  
  Read more

• Advertisement

• Peloton’s lockdown boom grinds to a halt as UK sales slide

  19-06-2023 14:46
  
  Full-year results reflect slowdown for interactive exercise bike firm viewed as ‘winner’ from pandemicSales at the UK arm of Peloton have fallen after the end of Covid restrictions put the brakes on the interactive exercise bike firm’s lockdown boom.The US brand’s British business reported that sales had decreased by 13% in its last financial year and that losses had widened. Continue reading...
  
  Read more

• Boohoo to seize control of Revolution Beauty as it looks to oust board

  19-06-2023 14:39 via retailgazette.co.uk
  
  // Boohoo is to vote against the reappointment of Revolution Beauty CEO, chair and CFO
  // It wants to appoint ex-New Look boss Alistair McGeorge and former Boohoo CFO Neil Catto at the beauty businessBoohoo is staging a coup at Revolution Beauty, where it is the largest shareholder, as it looks to purge it boardroom.
  The etailer will vote against the reappointment of Revolution Beauty’s CEO, chair and CFO at its AGM next week.
  Boohoo, which owns 26.6% of Revolution, has also requisitioned
  
  Read more

• M&S Food lowers or freezes prices on over 200 products

  19-06-2023 14:15 via retailgazette.co.uk
  
  // M&S Food is cutting the price on some of its most popular cupboard staples to support its customers
  // The retailer is extending its price lock on 150 products which will be in place through to autumnM&S Food is reducing or fixing the price of over 200 products in an investment that will see the retailer cut the price of over 70 family staples.
  At the same time the business is also extending its price lock on 150 products which will be in place through to autumn.
  The busines
  
  Read more

• Ex-Tesco chair ‘propelled under the nearest bus’ after groping claims

  19-06-2023 14:03 via retailgazette.co.uk
  
  // Former Tesco boss John Allan has insisted there is “absolutely no substance” to the accusations made about his behaviour
  // The businessman has denied three claims made against him, and “unreservedly apologised” for a fourthJohn Allan, the former chair of Tesco and housebuilder Barratt, claims he has been “propelled under the nearest bus” by the firms in the wake of misconduct allegations.
  Allan, who was forced to step down as chair of the supermarket over
  
  Read more

• Advertisement

• M&S’ Percy Pig creator on rival copycats: ‘why can’t you do something different’?

  19-06-2023 13:00 via retailgazette.co.uk
  
  // The creator of M&S’ Percy Pig line has called out rival companies for copying the retailer’s popular confectionary ranges
  // A grocery source claimed hat M&S finds itself in more trademark disputes than other supermarkets because it has developed in-house brands, which “rival supermarkets would die for”Julia Catton, the mastermind behind Marks & Spencer’s popular Percy Pig line has defended the retailers aggressive stance against copycats.
  &ldquo
  
  Read more

• Monsoon opens Islington boutique with more new stores set to open

  19-06-2023 11:50 via retailgazette.co.uk
  
  // Monsoon opens new boutique store on Upper Street inside a former pub
  // It marks the second London opening in a few months for the retailer,after the launch of a Vintage pop-up on Portobello Road last monthMonsoon has opened the doors to its latest boutique store, at 290 Upper Street, Islington, after the successful launch of boutique locations in Bath, Edinburgh and Cambridge over the last year.
  The womenswear retailer is continuing the expansion of its boutique portfolio with the Londo
  
  Read more

• Aldi launches vineyard tours and wine tasting experience for £2.67

  19-06-2023 10:28 via retailgazette.co.uk
  
  // Aldi teams up with Lyme Bay Winery to launch a vineyard tour and wine tasting experience
  // The experience will take place across Saturday 9th and Sunday 10th September in Essex.  In Celebration of English Wine Week, Aldi will be offering an exclusive Specialbuy vineyard experience in the Essex Countryside later this year.
  Launched in partnership with the producers behind its award-winning Bowler & Brolly English Sparkling wine, Lyme Bay Winery, tickets cost just
  
  Read more

• Boohoo prepares for shareholder revolt over exec bonuses

  19-06-2023 10:11 via retailgazette.co.uk
  
  // Boohoo faces shareholder revolt after advisory firms, including Glass Lewis, recommends investors reject pay report
  // The firms have voiced concerns about executive bonuses after the retailer racked up losses of over £90mBoohoo is facing a shareholder revolt at its next investor meeting after advisory firms opposed its executive bonuses.
  Institutional Shareholder Services (ISS) has urged investors to reject the retailer’s pay report at its upcoming annual general meeting (AG
  
  Read more

• McColl’s unsecured creditors still owed £45m a year after rescue deal

  19-06-2023 09:29 via retailgazette.co.uk
  
  // McColl’s unsecured creditors are still owed £45m after the chain’s collapse into administration
  // Administrators PwC have requested an extension to the administration to complete the restructuringUnsecured creditors of McColl’s are still £45m out of pocket after it was rescued by Morrisons in May last year.
  The supermarket giant snapped up the convenience store chain in a pre-pack deal, outbidding Asda owners – the Issa brothers and TDR Capital.
  The d
  
  Read more

• B&Q dims lights across all stores to cut energy costs

  19-06-2023 08:53 via retailgazette.co.uk
  
  // B&Q has dimmed the lights and lowered the temperature of its stores in a bid to slash rising energy costs
  // Kingfisher boss Thierry Garnier said the measures helped the group lower its energy consumption by 12% last yearB&Q is turning down the lights and lowering the temperature of all its stores as it looks to curb rising costs and avoid further price rises.
  The home improvement retailer has reduced the temperature of its in-store heaters by up to two degrees Celsius as well as
  
  Read more

• Morrisons unveils sixth round of price cuts this year

  19-06-2023 08:29 via retailgazette.co.uk
  
  // Morrisons invests £26m into its sixth round of price cuts for 2023
  // The supermarket chain has cut prices by up to 25%, which are locked in price until AugustMorrisons has continued to slash food prices as it looks to support customers with the rising cost of living.
  From today, customers will be able to save up to 25% on 47 fresh food essentials and summer favourites.
  The deep cuts are locked in price until August and include items such as mince, tomatoes, butter, cereal and pitta bre
  
  Read more

• The Perfume Shop reports outstanding trading period for Father’s day

  19-06-2023 02:00 via theretailbulletin.com
  
  The Perfume Shop has reported an outstanding sales period for Father’s Day with a record 224,000 bottles sold over 14 days in the run up to the big... View Article
  
  Read more

• New Monsoon boutique store to open on Upper Street, London

  19-06-2023 02:00 via theretailbulletin.com
  
  Fashion retailer Monsoon has announced the opening of its latest boutique store, at 290 Upper Street, Islington, N1 2XF. After the successful launch of boutique locations... View Article
  
  Read more

• Music Magpie’s first half in line with expectations

  19-06-2023 02:00 via theretailbulletin.com
  
  Music Magpie has announced that EBITDA for its traditionally quieter first six months of the year is in line with expectations with growth of 7.7% to... View Article
  
  Read more

• Morrisons cuts prices of nearly 50 products

  19-06-2023 02:00 via theretailbulletin.com
  
  The Morrisons supermarket chain has introduced a new round of price reductions, its sixth in 2023. The cuts have been applied to 47 high-volume products, including... View Article
  
  Read more

• M&S Food is cutting prices on some of its most popular staples to support its family customers

  19-06-2023 02:00 via theretailbulletin.com
  
  M&S is investing in the price of over 200 products as part of its promise to deliver trusted value to its 30 million customers. The investment... View Article
  
  Read more

• Kingfisher France launches own retail media agency

  19-06-2023 02:00 via theretailbulletin.com
  
  B&Q owner Kingfisher has announced that its business in France is preparing to support advertisers in the home improvement sector through the launch of its own... View Article
  
  Read more

• Frasers Group’s fashion CEO leaves the business

  19-06-2023 02:00 via theretailbulletin.com
  
  Greg Pateras, the chief executive of Frasers Group’s fashion brands, has left the business. Having taken up his role in August 2022, Pateras was responsible for... View Article
  
  Read more

• Fanatics acquires Fexpro as it looks to expand presence in Latin America

  19-06-2023 02:00 via theretailbulletin.com
  
  Digital sports platform Fanatics has acquired Fexpro, a leading wholesaler of licensed sports and branded apparel serving Latin America. Fanatics said the move will expand its... View Article
  
  Read more

• Ecommerce Consumer Research, from Whistl

  19-06-2023 02:00 via theretailbulletin.com
  
  Whistl has released its latest research highlighting the change in eCommerce consumer purchasing habits. Within the study, retailers will be able to understand more about the... View Article
  
  Read more

• Castore launches six-figure ‘Summer of Sport’ marketing campaign

  19-06-2023 02:00 via theretailbulletin.com
  
  Premium sportswear brand Castore has invested in a nationwide marketing campaign as part of plans to drive growth. The company has invested a six-figure sum in... View Article
  
  Read more

• Akeneo’s consumer research reveals changing shopping habits of price-conscious consumers

  19-06-2023 02:00 via theretailbulletin.com
  
  According to the new global survey, the cost-of-living crisis is causing 66% of consumers to spend more time validating before purchasing. Akeneo, the Product Experience company,... View Article
  
  Read more

Follow @retailuknws on Twitter!