Retail news

• Revolution Beauty/Boohoo: governance conflicts are a bad look for AIM

  28-06-2023 18:17 via ft.com
  Both Aim-listed stocks have lost over 80% in two years
  
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• Food retail: profiteering accusations do not stack up

  28-06-2023 17:10 via ft.com
  Rather than benefiting from rampant cost increases, grocers are actually getting squeezed more
  
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• Hello, Bookstore review – indie bookshop owner’s story is the perfect page-turner

  28-06-2023 10:00
  
  Adam Zax’s unhurried fly-on-the-wall documentary captures the gentle rhythms and flow of life in a Massachusetts bookstore“Hello, Bookstore.” That’s how Matthew Tannenbaum answers the phone a dozen times a day at his independent bookshop in Lenox, Massachusetts, always with the same gentle, curious voice. (He’s an old hippy; you could imagine him played by Mark Rylance in the movie of his life.)Booklovers will instantly feel at home in this documentary and in Tannen
  
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• Mulberry profits slip despite revenues rising amid higher costs

  28-06-2023 09:30 via retailgazette.co.uk
  
  // Mulberry posts 4% full year revenue increase to £159.1m pre-tax profits slumping
  // Pre-tax profits fell 38% to £13.2 million, in part due to costs linked to the Bond Street closure.Mulberry’s pretax profit slumped in the year, despite group revenue rising by 4% to £159m, as increasing costs weighed on performance.
  In the year to April, the luxury handbag retailer reported an underlying profit of £2.5m, down from £14.6m last year as sales slipped to &p
  
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• Revolution Beauty bosses fired and rehired in chaotic AGM as Boohoo airs ‘serious concerns’

  28-06-2023 08:58 via retailgazette.co.uk
  
  // Revolution execs Bob Holt, Elizabeth Lake and Derek Zissman were fired and rehired in chaotic AGM
  // The online beauty retailer’s largest shareholder Boohoo attempted a rebellion at yesterday’s meetingRevolution Beauty had a disorderly annual general meeting yesterday, as its largest shareholder Boohoo staged a rebellion, leading to the firing and re-hiring of chief executive Bob Holt, finance boss Elizabeth Lake, and chairman Derek Zissman.
  Zissman tried to delay the meeting
  
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• Boohoo raises ‘serious concerns’ about Revolution Beauty board

  28-06-2023 08:45 via ft.com
  Criticism comes after ousted senior directors reinstalled by remaining independent director
  
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• Boots to close 300 stores over next year

  28-06-2023 08:41 via retailgazette.co.uk
  
  Boots is to close 300 UK stores over the next 12 months as it looks to “consolidate” the business.
  The retailer, which is owned by US giant Walgreens, said it will “consolidate a number of stores in close proximity to each other”.
  Its store portfolio is set to reduce from 2,200 UK stores to 1,900 after the move.
  According to the BBC, there will be no redundancies and staff at the impacted stores will be offered work at nearby branches. It is not known which locations will
  
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• ProCook swings to loss after ‘significant trading uncertainty’

  28-06-2023 07:55 via retailgazette.co.uk
  
  // ProCook posts a £200,000 full-year loss
  // CEO Daniel O’Neill says economic backdrop was one of the toughest experienced in his 27-year careerDTC kitchenware brand ProCook swung to a loss in its last financial year as sales plunged nearly 10%.
  The retailer recorded a £200,000 loss in its year to 2 April, from a £9.5m profit the prior year, as it battled higher supply chain costs, which it said had now “largely unwound”. 
  ProCook said it had been a year
  
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• Sainsbury’s launches Henry Holland collection to support LGBTQIA+ communities

  28-06-2023 02:00 via theretailbulletin.com
  
  Customers shopping in Sainsbury’s stores or online will be able to buy British Designer, Henry Holland’s x Bags of Ethics exclusive collection from now until September.... View Article
  
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• Rude to ask a woman’s age? #ILookMyAge campaign faces it head on

  28-06-2023 02:00 via theretailbulletin.com
  
  An inspiring new #ILookMyAge campaign has fast become a global social media sensation this week as women worldwide reclaim their age to challenge sexist stereotypes. Launched... View Article
  
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• ProCook slips to full year loss amid “tough” economic backdrop

  28-06-2023 02:00 via theretailbulletin.com
  
  ProCook has slipped to a full year loss after facing an economic backdrop that its founder and chief executive described as one of the toughest in... View Article
  
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• Mulberry posts higher full year sales

  28-06-2023 02:00 via theretailbulletin.com
  
  Luxury brand Mulberry has posted a 4% full year revenue increase to £159.1 million as it continues to deliver on its strategic objectives. In the 52... View Article
  
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• Kering Beauté expands fragrance portfolio with acquisition of Creed

  28-06-2023 02:00 via theretailbulletin.com
  
  Kering Beauté has acquired the Creed fragrance brand from funds controlled by BlackRock Long Term Private Capital Europe and current chairman Javier Ferrán. Established in 1760... View Article
  
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• Health of retail report 2023: Retail Trust

  28-06-2023 02:00 via theretailbulletin.com
  
  Over half of retail workers (52%) say the rising cost-of-living is impacting their mental health, according to a new report by industry charity the Retail Trust... View Article
  
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• Cult Beauty announces restrictions on airbrushed models

  28-06-2023 02:00 via theretailbulletin.com
  
  Cult Beauty has announced restrictions on airbrushed models as it launches a campaign to tackle what it describes as the damaging effects of enhanced beauty images... View Article
  
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• Boots to close 300 UK stores

  28-06-2023 02:00 via theretailbulletin.com
  
  Boots is to close 300 UK branches over the next 12 months as part of US parent company Walgreens Boots Alliance’s plans to “optimise” locations. It... View Article
  
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• Beauty Pie unveils “No Catch” brand awareness drive

  28-06-2023 02:00 via theretailbulletin.com
  
  Beauty Pie, the disruptive direct-to-consumer beauty brand, has unveiled “No Catch”, their new creative proposition highlighting their accessibility compared to other prohibitively expensive luxury beauty brands... View Article
  
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• Analysis: Retailers and Ransomware 2023

  28-06-2023 02:00 via theretailbulletin.com
  
  By Gareth Dew, Head of Platform, Infrastructure and Security at PMC Retail Retailers may get some comfort from Sophos’ annual security report: The State of Ransomware... View Article
  
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