Retail news

• New Hunter owner to tap brand’s British roots to give sales some welly

  23-06-2023 19:29
  Authentic pledges not to repeat mistake of previous owners with excessive focus on luxury market
  
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• CarMax: good defensive driving does not mean investors should hop in

  23-06-2023 19:20
  Downturn in used-car market set to continue with affordability a serious roadblock for consumers
  
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• Frasers’ shopping spree: Mike Ashley-owned empire snaps up stakes

  23-06-2023 18:19
  Group has bought shares in retailers spanning electrical items to fast fashion
  
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• UK services sector price rises deliver blow to BoE inflation plans

  23-06-2023 17:57
  Far more of companies surveyed passing on costs to consumers than cutting them, new data show
  
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• Lidl allowed injunction to prevent Tesco copying logo

  23-06-2023 17:11 via retailgazette.co.uk
  
  // Lidl has been permitted to have an injunction to stop Tesco copying its yellow and blue logo
  // The news comes after Tesco lost a trademark lawsuit against the budget grocer over the logo in AprilLidl has been granted permission by London’s High Court to have an injunction to prevent Tesco from infringing its trademark.
  The news comes after Tesco lost a trademark lawsuit against the budget grocer over its logo in April.
  Removing all of its Clubcard loyalty scheme logos would set Tesco b
  
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• Boohoo shareholders revolt over executive bonuses

  23-06-2023 16:57 via retailgazette.co.uk
  
  // Boohoo Group’s shareholders have staged a revolt over the company’s proposed executive bonuses.
  // A total of 32.5% of shareholders voted against the fashion giant’s remuneration reportBoohoo Group’s shareholders have staged a revolt over the fashion giant‘s proposed executive bonuses.
  The Manchester-headquartered group was braced for opposition to its remuneration report after advisory firms recommended investors reject it.On 22 June, more than 32% of shareholde
  
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• Amazon sued over tricking customers into Prime

  23-06-2023 15:04 via retailgazette.co.uk
  
  // The Federal Trade Commission has sued Amazon over ‘duping’ its Prime membership users
  // The retail giant was accused of tricking shoppers into signing up for automatically renewing subscriptions to the serviceAmazon has been sued by the Federal Trade Commission, as it accused the retailer of tricking millions of shoppers into enrolling into Prime memberships.
  However, the ecommerce giant has denied the claims, describing them as “false on the facts and the law”.
  The U
  
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• Warm weather pushes up retail sales in Great Britain as people turn to outdoor goods

  23-06-2023 13:48
  
  Rise of 0.3% in May comes as separate survey shows UK services company sales grew this monthWarmer weather and online bargains drove a surprise increase in retail sales in May after City forecasts predicted the cost of living crisis would persuade consumers to be more restrained.Retail sales in Great Britain rose 0.3% last month after a 0.5% increase in April, continuing a bounce in spending since the beginning of the year that points to a return of consumer confidence after last September&rsquo
  
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• Open Banking, Crypto, Orchestration: Game Changers Ahead!

  23-06-2023 13:45 via retailgazette.co.uk
  
  Open Banking, Crypto, Orchestration:buzzwords or game changers?
  You’re about to find out about the opportunities presented by digitalisation and how to apply the latest payment technologies for global success. Get ready to meet the experts from Ecommpay, Mastercard, and Wix!
  Learn how to build a perfect payment experience, streamline operations, protect your businesses from fraud and much more:
  Embedded finance, Open Banking, crypto, and various other payment solutions and technologies are
  
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• Temu: ‘Extremely high risk’ site sells forced labour goods

  23-06-2023 13:30 via retailgazette.co.uk
  
  // There is an ‘extremely high risk’ that Temu sells goods made using forced labour, US lawmakers have said
  // The claims were derived from an investigation into adherence with a US law, which bans the import of products made with forced Uyghur labourThere is an “extremely high risk” that goods sold via Temu have been made using forced labour, according to US lawmakers.
  The accusations come from an investigation looking into adherence with a 2021 US law, banning the impor
  
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• Poundland brings wider food ranges to more stores

  23-06-2023 13:07 via retailgazette.co.uk
  
  // Poundland is adding beers, wines & spirits, fresh fruit and vegetables and chilled and frozen food to more stores by autumn
  // The business is on track to add over half a million square feet of new space this financial year as it opens and relocates storesPoundland is accelerating the rollout of its grocery offering, including chilled, frozen, fresh fruit and veg as well as beers, wines and spirits to more stores.
  The discount giant said the move further strengthens its “range
  
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• Hotel Chocolat warns on profits amid ongoing inflationary pressures

  23-06-2023 13:05 via retailgazette.co.uk
  
  // Hotel Chocolat expects a dip in its profit for 2023, as a result of base efficiencies materialising later than expected
  // Its sales remain in line with market expectations, while the retailer also has cash at hand of £19m and zero debtHotel Chocolat expects its profit before tax and sales to be below market expectations for next year, as a result of ongoing weakness in consumer sentiment and inflationary pressures.
  The business is anticipating revenue of £201.8m and underlyi
  
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• Hotel Chocolat warns on profits amid inflationary pressures

  23-06-2023 13:05 via retailgazette.co.uk
  
  // Hotel Chocolat expects a dip in its profit for 2023 as a result of base efficiencies materialising later than expected
  // Its sales remain in line with market expectations, while the retailer also has cash at hand of £19m and zero debtHotel Chocolat expects its profit before tax and sales to fall below market expectations for next year, as a result of ongoing weakness in consumer sentiment and inflationary pressures.
  The business is anticipating revenue of £201.8m and underlying p
  
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• Quarter of UK services companies report rising prices for customers

  23-06-2023 09:46
  Separate ONS data shows unexpected growth in retail sales last month
  
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• Hotter owner Unbound plans emergency restructuring amid dwindling sale prospects

  23-06-2023 09:42 via retailgazette.co.uk
  
  // Unbound Group is drawing up plans to implement an emergency restructuring mechanism
  // The group warned that while it will be able to make a bank repayment in July, a temporary working capital shortfall could arise in September and OctoberUnbound Group is preparing emergency restructuring plans due to fading sale prospects.
  According to Sky News, the owner of Hotter Shoes has asked its advisers at Interpath to start preparations which would require court approval allowing it to shed
  
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• Retail sales rise unexpectedly in May

  23-06-2023 09:07 via retailgazette.co.uk
  
  // Retail sales increase month on month by 0.3% in May
  // Food continues to be significantly impacted by inflation with volumes falling 0.5% in May
  UK retail sales rose unexpectedly in May thanks to three bank holidays and a run of warm weather, with sales up 0.3% during the month, defying economist predictions of a 0.2% decline.Non-store sales grew by 2.7% mostly thanks to a significant increase in online shopping for items like outdoor goods and summer clothing.
  B
  
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• British retail sales grow as consumers spend on summer goods

  23-06-2023 08:47
  Volume rose 0.3% between April and May, exceeding economists’ forecast
  
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• Revolution Beauty sales soar as ex-THG beauty CEO deemed unnecessary on its board

  23-06-2023 08:45 via retailgazette.co.uk
  
  // Revolution beauty sales rise 60% year on year despite its ongoing saga with its largest shareholder Boohoo
  // The cosmetics retailer said the ex-THG CEO of beauty Rachel Horsefield “proposed addition to the board is not required”Revolution Beauty has said “trading has been excellent” for the first three months of the financial year ending 28 February 2024, with sales up 60% year on year.The beauty retailer‘s gross margins were 48.2%, compared with 41.7% in t
  
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• Why more employee-owned businesses could mean fewer strikes | Dame Sharon White

  23-06-2023 07:00
  
  There are 1,300 companies in the UK, including John Lewis, that give their members a stake in the organisationHospital consultants are the latest group of workers to ballot for strike action. In the past year, the UK has lost 3.7m working days to strikes; largely public sector workers such as nurses, junior doctors and railway workers but private sector workers at the likes of Amazon and Heathrow too.The Office for National Statistic reckons that strikes have depressed growth in the economy. Peo
  
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• How the Zara juggernaut crashed the wedding party

  23-06-2023 06:00
  The Spanish clothing brand is reaping the rewards of outfits the rich and famous are happy to wear
  
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• Eddie Wu prepares to run tech empire built with mentor Jack Ma

  23-06-2023 06:00
  Alibaba co-founder to take the reins and preside over its break-up
  
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• Eddie Wu prepares to run Alibaba empire built with mentor Jack Ma

  23-06-2023 06:00
  Tech group co-founder to take reins and preside over its break-up
  
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• Victoria’s Secret evolves leadership structure to advance strategic priorities

  23-06-2023 02:00 via theretailbulletin.com
  
  Victoria’s Secret has appointed Greg Unis as brand president for Victoria’s Secret & Pink and Anne Stephenson as its new chief merchandising officer. In a statement,... View Article
  
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• The Original Factory Shop extends loyalty scheme by reintroducing Club card back into stores

  23-06-2023 02:00 via theretailbulletin.com
  
  The Original Factory Shop has extended its loyalty scheme to enable its physical Club card holders to benefit from the same exclusive member prices that are... View Article
  
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• Revolution Beauty reports jump in sales amid spat with Boohoo

  23-06-2023 02:00 via theretailbulletin.com
  
  Revolution Beauty has reported a 60% uplift in sales in the first three months of its financial year as it updated shareholders on trading in light... View Article
  
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• Morrisons hails continued sales momentum

  23-06-2023 02:00 via theretailbulletin.com
  
  Morrisons has posted an increase in second quarter sales as it works towards building a “broader, stronger” business. In the 13 weeks to 30 April, the... View Article
  
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• London Designer Outlet announces raft of uspsizings

  23-06-2023 02:00 via theretailbulletin.com
  
  London Designer Outlet has announced a number of upsizings at the Wembley Park fashion and lifestyle destination. Having joined the centre more than nine years ago,... View Article
  
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• Consumer confidence improves despite stubborn inflation

  23-06-2023 02:00 via theretailbulletin.com
  
  UK consumer confidence has edged up this month as people feel more optimistic about their personal finances. GfK’s June Consumer Confidence Index has risen by three... View Article
  
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