Retail news

• Boots and Walgreens to close 450 branches across UK and US

  27-06-2023 23:46 via ft.com
  Pharmacy group slashes earnings forecast as market softens and customers tighten belts
  
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• Boots to close 300 shops despite strong quarterly sales

  27-06-2023 21:50
  
  Announcement will add to recent speculation that owner Walgreens is preparing to put firm up for sale againBoots is to close 300 shops in the year ahead despite a 13.4% rise in quarterly turnover fuelled by high sales of suntan lotion during the UK’s hot spell.The high street chemist, which is owned by the US group Walgreens Boots Alliance, said it was “evolving the store estate” by shutting branches that were close to each other in order to directstaff to where they were neede
  
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• ‘Greedflation’? The MPs missed the target when grilling the grocers | Nils Pratley

  27-06-2023 19:57
  
  The competition watchdog should have opined first on supermarket trade – they would have known where to focusIf you have given yourself less than 90 minutes to investigate one of the hottest business and political issues of the hour – the charge of “greedflation” as it applies to supermarkets – it is usually a good idea to stick to the subject. Sadly, this was not the approach adopted by MPs on the business and trade select committee on Tuesday.The supposed grilling
  
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• Supermarket execs blast profiteering claims and price cap plans

  27-06-2023 19:07 via retailgazette.co.uk
  
  // Supermarket bosses have denied profiteering claims and said they have been shielding customers from the full impact of rising costs.
  // Tesco exec Gordon Gafa told MPs: “We are the most competitive we have ever been”Supermarket bosses have denied claims of profiteering from soaring food prices and rejected calls to introduce a grocery price cap.
  Executives from Asda, Morrisons, Sainsbury’s and Tesco told MPs on Tuesday that they were shielding customers from the full impact
  
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• Morrisons’ boss admits supermarket chains have hiked profits on petrol

  27-06-2023 18:21
  
  David Potts was one of several chief executives of major grocers being quizzed byMPs over accusations of profiteeringThe boss of Morrisons has admitted that supermarkets have increased profits at the petrol pumps as he was quizzed by MPs alongside executives from Tesco, Sainsbury’s and Asda who denied they were making more money from keeping food prices high.David Potts told MPs on the business and trade committee: “I think there is more profit at the retail end of fuel.” He sa
  
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• Boohoo demands supplier discount on all outstanding orders

  27-06-2023 17:00 via retailgazette.co.uk
  
  // Boohoo Group asks suppliers for 10% discount on all outstanding orders for the second time in two months
  // The online retailer is in the process of cutting costs across the business following weaker salesBoohoo Group has asked for a 10% discount on orders from some of its suppliers, for the second time in two months, Drapers reports.
  In an email sent to some suppliers, Boohoo blamed “significant decreases in freight, cotton and polyester prices year on year” for rebasing its
  
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• Crumb of comfort? Dorset baker wins £15k after being sacked for holey bread

  27-06-2023 16:01
  
  Employment tribunal rules that while Artur Piaszczynski’s loaves were inconsistent, he wasn’t given specific targets
  The head baker at a 300-year-old artisan bread shop in a Dorset seaside town has been awarded more than £15,000 after being sacked for making loaves with too many holes in them.Artur Piaszczynski, who argued during an employment tribunal that bread making was an art and not a science, lost his job after complaints that customers were struggling to make decent san
  
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• Boots wonder cream launch drives ninth straight quarter of growth

  27-06-2023 15:55 via retailgazette.co.uk
  
  Boots has notched up its ninth consecutive quarter of market share growth in its third quarter as its No7 wonder cream launch helped to boost sales.
  The health and beauty specialist’s sales jumped 13.4% in the three months to 31 May with the No7 Future Renew range a star performer.
  When it launched in April, a product was sold every two seconds from the skincare range, deemed Boots’ ‘most powerful’ anti-ageing cream, with more than half a million purchases in the four wee
  
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• Cult Beauty bans retouched models

  27-06-2023 15:38 via retailgazette.co.uk
  
  // Cult Beauty bans airbrushed photos from of all its products
  // The move is part of a new campaign from the retailer to promote healthier beauty standardsCult Beauty has banned retouched photos from its website as it looks to promote healthier attitudes towards beauty standards.
  The move is part of the retailer’s new campaign CAN’T (Re)TOUCH THIS to tackle the negative effects of airbrushed beauty on people’s mental health.
  From today, the THG-owned beauty etailer has pl
  
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• UK supermarkets back greater transparency on fuel prices

  27-06-2023 15:15 via ft.com
  Executives support scheme to help consumers find the best petrol deals but deny profiteering on food
  
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• Hunt to discuss cost of living crisis with regulators

  27-06-2023 15:15 via ft.com
  Chancellor will ask Britain’s watchdogs whether there is evidence of price gouging by companies
  
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• Frasers ups stake in AO World and Currys

  27-06-2023 12:06 via retailgazette.co.uk
  
  // Frasers lifts stake in AO World to 22.2% and Currys to 10.4%
  // It comes as the group looks to build its presence in the electricals industryFrasers has upped its stake in AO World and Currys as it continues its acquisition spree.
  The Mike Ashley owned group raised its holdings in the Bolton-based online electrical retailer for the third time this month to 22.2% from 21.3%.
  It also lifted its shareholdings in Currys to 10.4%, which it said last week was part of a “strategic investm
  
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• Cheaper staples lead to slower inflation

  27-06-2023 10:58 via retailgazette.co.uk
  
  // A drop in the price of staple goods has helped inflation to fall, according to the British Retail Consortium
  // Annual shop price inflation dipped 8.4% in June, while food inflation dove 14.6% during the same periodThe cheaper price of staple goods has helped inflation to ease in a glimpse of good news for shoppers.
  Annual shop price inflation was 8.4% in June, putting it below the 3-month average rate of 8.7%, the British Retail Consortium reports.
  Meanwhile, food inflation was 14.6% du
  
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• Ocado names ex-Ted Baker CEO as non-executive director

  27-06-2023 10:40 via retailgazette.co.uk
  
  // Ocado appoints Rachel Osborne as a non-executive director
  // The former Ted Baker boss left the fashion retailer earlier this monthOcado has appointed former Ted Baker boss Rachel Osborne as a new independent non-executive director.
  Due to take up her position from 1 September, Osborne will also join the retailer’s Audit Committee and People Committee.
  Osborne stepped down from her role at Ted Baker earlier this month as the fashion retailer’s newest owner Authentic is in the
  
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• Asics to end supply agreements with hundreds of UK indie retailers next year

  27-06-2023 09:24 via retailgazette.co.uk
  
  // Asics is set to scale back retail supply deals as it reassesses its customer relationships
  // The sporting retailer is following similar moves made by Nike and Adidas who have both looked to direct-to-consumer sales to boost profitsAsics will be ending its supply agreements with hundreds of small UK retailers from next year, in a similar move to Nike and Adidas who have ditched smaller outlets in favor of big chains and selling direct online in recent months.
  In a letter seen by the
  
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• How M&S, Next and Amazon are becoming employers of choice for working parents

  27-06-2023 08:49 via retailgazette.co.uk
  
  Working parents face a whole host of challenges when it comes to managing their job around a busy family life.
  In April to June 2021, 76% of mothers with dependent children were in employment, more than any time over the last 20 years according to Office for National Statistics (ONS).
  As over two thirds (67%) of working parents in the UK now believe flexible work could help them progress at work, companies are aiming to make life easier for staff with children.
  From on-site nurseries to term-tim
  
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• JD Sports on track to hit £1bn profit this year despite weaker US sales

  27-06-2023 08:46 via retailgazette.co.uk
  
  // JD Sports has stuck to guidance for full-year profit
  // Strong UK, Europe and Asia Pacific sales were partially offset by the softening of business in North America
  JD Sports has maintained annual guidance despite a slowing of sales growth in May and softening in the US market.
  The group said it still expected full-year profit to pass £1bn after positive trading in all regions through May with overall growth in organic sales of around 8%, compared with 15% in the first three months
  
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• George Osborne-chaired investment firm raises Ocado stake to 5%

  27-06-2023 08:32 via retailgazette.co.uk
  
  // An investment firm backed by the Agnelli family of Italy and led by George Osborne has built a 5% stake in Ocado
  // The investment by Lingotto comes a month after Osborne was named chairman.An investment firm chaired by former UK Chancellor of the Exchequer George Osborne has has built a 5% up stake in Ocado, new company filings reveal.
  Lingotto Investment Management, run by the billionaire Italian Agnelli family, took up its holding just days after Ocado shares surged over 40% amid spec
  
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• Tapi Carpet & Floors opens new Speke store

  27-06-2023 02:00 via theretailbulletin.com
  
  Tapi Carpets & Floors has opened a new store in the Speke area of Liverpool. Situated at New Mersey Retail Park, the shop will offer customers... View Article
  
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• Sweaty Betty and Space NK open debut stores at Liverpool One

  27-06-2023 02:00 via theretailbulletin.com
  
  Grosvenor has announced that global activewear and lifestyle brand, Sweaty Betty, and worldwide retailer for luxury cosmetics Space NK have both opened their city debuts at... View Article
  
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• Sainsbury’s invests £15m in household staple price cuts

  27-06-2023 02:00 via theretailbulletin.com
  
  Sainsbury’s has announced a further round of price reductions as it invests £15 million in cutting the price of cupboard staples such as rice and pasta.... View Article
  
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• Ocado appoints Rachel Osborne as a non-executive director

  27-06-2023 02:00 via theretailbulletin.com
  
  Ocado has appointed former Ted Baker chief executive Rachel Osborne as a non-executive director. Due to take up her role on 1 September 2023, Osborne will... View Article
  
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• JD Sports on track despite softer sales in North America

  27-06-2023 02:00 via theretailbulletin.com
  
  JD Sports has maintained its full year profit guidance despite a softening of sales in its US market. In an AGM update, the company said it... View Article
  
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• Holland & Barrett launches multi-language support service for menopause

  27-06-2023 02:00 via theretailbulletin.com
  
  New research out today reveals inequality in menopause support with 51 per cent of women from black, Asian and minority ethnic backgrounds saying that current advice... View Article
  
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• GroceryAid appoints Kieran Hemsworth as Chief Executive

  27-06-2023 02:00 via theretailbulletin.com
  
  GroceryAid has today, Tuesday 27th June 2023, announced the appointment of Kieran Hemsworth as Chief Executive. Kieran brings with him a wealth of executive experience spanning 30... View Article
  
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• Dawsons acquired by Vista Musical Instruments

  27-06-2023 02:00 via theretailbulletin.com
  
  Music retailer Dawsons has been acquired by Vista Musical Instruments. In a statement, Vista Musical Instruments said the move marks a significant milestone for its business... View Article
  
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• Claire’s hires Claudia Lima-Guinehut as chief merchandising officer

  27-06-2023 02:00 via theretailbulletin.com
  
  Claire’s has hired Claudia Lima-Guinehut as executive vice president and chief merchandising officer. Reporting to Claire’s chief executive Ryan Vero, she will lead the company’s global... View Article
  
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• BlueSnap partners with global health and wellness leader Arbonne International to provide global payments

  27-06-2023 02:00 via theretailbulletin.com
  
  BlueSnap’s global payment orchestration platform allows Arbonne International to offer localised payment experiences for customers with a single integration. BlueSnap, a global payment orchestration platform of... View Article
  
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• Asos appoints sustainability and CSR specialist as non-executive director

  27-06-2023 02:00 via theretailbulletin.com
  
  Online fashion retailer Asos has appointed Anna Maria Rugarli as a non-executive director. An expert in the fields of sustainability and CSR, she has also become... View Article
  
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• Ecommerce: TikTok’s high views are no match for Amazon’s logistics

  27-06-2023 01:41 via ft.com
  Video app wants to cash in on the boom in online shopping but faces obstacles that the US giant does not
  
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• UK shop price inflation eased in June, industry figures show

  27-06-2023 01:01 via ft.com
  Decline helped by second consecutive monthly fall in the growth of food costs as retailers discount many staples
  
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• Shop price inflation easing, say top UK retailers before key meeting with MPs

  27-06-2023 01:01
  
  British Retail Consortium says figure eased to 8.4% in June from 9% in May Britain’s biggest retailers have said shop price inflation is easing ahead of a crunch meeting with MPs on Tuesday over the soaring cost of groceries, but warned food prices were continuing to rise at near record rates.The British Retail Consortium (BRC) said annual inflation in overall shop prices eased to 8.4% in June, down from 9% in May, as retailers cut the price of many staples including milk, cheese and eggs.
  
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