Retail news

• John Lewis first UK retailer to have net-zero targets validated

  29-06-2023 15:42 via retailgazette.co.uk
  
  // John Lewis Partnership gets net-zero science-based targets validated by the Science Based Targets initiative
  // It’s the first retailer in the UK to receive approval from the official bodyJohn Lewis Partnership has become the first UK retailer to have its net-zero science-based targets validated by the official target-setting body.
  The Science Based Targets initiative (SBTi) – the gold standard for setting and monitoring corporate climate targets – has approved the reta
  
  Read more

• Casino shares tumble on debt-to-equity conversion plan

  29-06-2023 15:22 via ft.com
  French food retailer warns that shareholders will be ‘massively’ diluted
  
  Read more

• Moonpig profits plunge while sales remain resilient

  29-06-2023 15:08 via retailgazette.co.uk
  
  // Moonpig profits took a hit during its last financial year while its sales soared 5.2%
  // CEO Nickyl Raithatha said the company expected to “return to growth” during the year aheadMoonpig full-year profits took a hit as it faced a “more challenging trading environment” from October, however the retailer expects a return to growth in its current year.
  The greetings card specialist‘s pre-tax profits dipped 12.6%, narrowing to 6.9% on an adjusted basis, however
  
  Read more

• Bargain hunters bolster UK sales at B&M and H&M

  29-06-2023 13:31
  
  Upbeat figures from discounter and fashion chain follow similar updates from Next and PrimarkShoppers searching for ways to trim their budgets have boosted sales at the discounter B&M and the fashion chain H&M in the latest sign of resilient trading on Britain’s high streets.B&M said sales rose 9.2% at its core UK stores with trade in both groceries and non-food doing well. Continue reading...
  
  Read more

• Advertisement

• Ocado shares fall as Amazon bid talk fades

  29-06-2023 11:44 via retailgazette.co.uk
  
  // Shares in the online grocer fell back this week after surging following reports of a possible takeover bid
  // Amazon, reported by The Times as a possible suitor, has declined to commentOcado shares dropped yesterday after rumours of a possible takeover bid from Amazon died down.
  Reuters said that traders attributed the shares plunge to an unconfirmed media report suggesting that Amazon had denied speculation it would table an offer for the online grocery specialist.
  Interest in Ocado swe
  
  Read more

• H&M has good start to summer as profit beats forecast

  29-06-2023 09:38 via retailgazette.co.uk
  
  // H&M’s profits beat analyst expectations as sales in the third quarter start strong
  // The group’s operating profit margin in the second quarter was 8.2%, down from 9.2% a year earlierH&M has reported stronger-than-expected profits and said its third-quarter sales were off to a good start as the retailer looks to catch-up with fashion titan Inditex.The group‘s operating profit in its second quarter was £348m down from £365m last year but ahead of analyst f
  
  Read more

• H&M hails good start to summer as profit beats forecast

  29-06-2023 09:38 via retailgazette.co.uk
  
  // H&M’s profits beat analyst expectations as sales in the third quarter start strong
  // The group’s operating profit margin in the second quarter was 8.2%, down from 9.2% a year earlierH&M has reported stronger-than-expected profits and said its third-quarter sales were off to a good start as the retailer looks to catch-up with fashion titan Inditex.The group‘s operating profit in its second quarter was £348m down from £365m last year but ahead of analyst f
  
  Read more

• Ted Baker axes 200 head office jobs as outsourcing continues

  29-06-2023 09:22 via retailgazette.co.uk
  
  // Ted Baker cuts around 200 head office jobs as its outsourcing model comes into effect following its acquisition by Authentic Brands Group
  // The redundancies come after Authentic Brands Group outsourced Ted Baker stores and its ecommerce site to retail management business AARC in April
  Ted Baker has slashed approximately 200 head office jobs as its outsourcing model comes into effect, Drapers reports.
  The title understands that around 200 head office roles were made redundant earlier thi
  
  Read more

• Advertisement

• B&M hails ‘strong trading momentum’ as Brits hunt for bargains

  29-06-2023 09:12 via retailgazette.co.uk
  
  // B&M posts a 13.5% rise in quarterly revenue representing “strong profitable trading momentum”
  //  Like-for-like sales in the UK were up 9.2% as both grocery and general merchandise categories performed “very well, driven by consistently strong and positive LFL transaction numbers”,B&M has posted a 13.5% rise in quarterly revenue which it said represented “strong profitable trading momentum” as shoppers continue to seek out bargains at the value
  
  Read more

• Boohoo demands Revolution Beauty publishes share option as directors handed £3m in shares

  29-06-2023 08:43 via retailgazette.co.uk
  
  // Revolution Beauty hands directors £3m in shares despite majority vote to oust them
  // This reward is given to them for restoring the company’s listingRevolution Beauty has granted its top executives shares valued at £3m, despite a majority of people voting to remove them from their positions.
  Chief executive Bob Holt, finance boss Elizabeth Lake, and other senior executives will collectively receive over 11 million shares, which are worth nearly £3 million based o
  
  Read more

• Boohoo demands Revolution Beauty publishes share option as directors enjoy £3m in shares

  29-06-2023 08:43 via retailgazette.co.uk
  
  // Revolution Beauty hands directors £3m in shares despite majority vote to oust them
  // This reward is given to them for restoring the company’s listingRevolution Beauty has granted its top executives shares valued at £3m, despite a majority of people voting to remove them from their positions.
  Chief executive Bob Holt, finance boss Elizabeth Lake, and other senior executives will collectively receive over 11 million shares, which are worth nearly £3 million based o
  
  Read more

• Xiatech and OneStock launch the world’s first survey to quantify the business value of MACH technologies

  29-06-2023 02:00 via theretailbulletin.com
  
  Adyen, Bloomreach, commercetools, Mercaux and the MACH Alliance support global initiative to benchmark the benefits of modern business technology architecture Xiatech, the pioneer of the world’s... View Article
  
  Read more

• Ted Baker cuts 200 head office roles

  29-06-2023 02:00 via theretailbulletin.com
  
  Ted Baker has cut around 200 head office roles as part of a restructuring exercise. According to Drapers, the jobs were made redundant earlier this month... View Article
  
  Read more

• Poundland to add 120 roles to Yorkshire distribution centre as it prepares for digital expansion

  29-06-2023 02:00 via theretailbulletin.com
  
  Poundland is to recruit for around 120 new roles at its Barnsley chilled and frozen food hub in South Yorkshire. Now set to become Poundland’s second... View Article
  
  Read more

• People matter: “State of the Frontline Workforce 2023”

  29-06-2023 02:00 via theretailbulletin.com
  
  A recent study called “State of the Frontline Workforce 2023” surveyed 3,000 retail staff in the UK to understand their job satisfaction and career prospects. The... View Article
  
  Read more

• Moonpig trading boosted by “resilient” business model

  29-06-2023 02:00 via theretailbulletin.com
  
  Moonpig has hailed its resilient business model after posting revenue growth of 5.2% to £320.1 million in the year to 30 April. Despite the economic downturn... View Article
  
  Read more

• Lightspeed expands its Lightspeed Capital Merchant Cash Advance programme to the United Kingdom 

  29-06-2023 02:00 via theretailbulletin.com
  
  Embedded financial services offering enables growth and innovation for expanding retail and hospitality businesses. Lightspeed Commerce Inc. (NYSE | TSX: LSPD) has expanded Lightspeed Capital, its merchant cash... View Article
  
  Read more

• John Lewis the first retailer in the world to set validated science-based targets

  29-06-2023 02:00 via theretailbulletin.com
  
  The John Lewis Partnership has become the first retailer in the UK to have its *net-zero **science-based targets validated by the official body that validates climate... View Article
  
  Read more

• JD Sports to join line-up at Ashley Centre

  29-06-2023 02:00 via theretailbulletin.com
  
  JD Sports has signed to take a new store at Epsom’s Ashley Centre. Set to open later this year, the 4,453 square foot space will be... View Article
  
  Read more

• H&M shares jump 17% as summer collection boosts profit

  29-06-2023 02:00 via theretailbulletin.com
  
  Fashion retailer H&M’s shares rose 17% following the release of their second-quarter profit, which exceeded expectations. The company attributed the increase to cost-cutting measures and favorable weather... View Article
  
  Read more

• Gramicci chooses Covent Garden for first physical store

  29-06-2023 02:00 via theretailbulletin.com
  
  Gramicci, the outdoor and lifestyle clothing brand, has chosen London’s Covent Garden for the opening of its first physical store. Spanning 1,400 square feet at 3... View Article
  
  Read more

• FARFETCH report says luxury shoppers now more conscious

  29-06-2023 02:00 via theretailbulletin.com
  
  FARFETCH has released its 2023 Conscious Luxury Trends Report, which examines consumer behavior in shopping responsibly and highlights opportunities and innovations in the luxury industry’s sustainability... View Article
  
  Read more

• Creating Moments of Magic in Retail Webinar: Continuing the Conversation

  29-06-2023 02:00 via theretailbulletin.com
  
  Comarch recently hosted a webinar on how to implement psychological principles in loyalty campaigns for retail brands. The event boasted loyalty industry standouts such as Bill Hanifin of The Wise Marketer, Phil Rubin, founder... View Article
  
  Read more

• B&M hails strong first quarter trading

  29-06-2023 02:00 via theretailbulletin.com
  
  B&M has posted a 13.5% increase in first quarter group revenue to £1.32 billion. In the 13 weeks to 24 June 2023, the retailer enjoyed strong trading... View Article
  
  Read more

• Auchan opens first Auchan GO self-service store in Poland

  29-06-2023 02:00 via theretailbulletin.com
  
  The Polish arm of French supermarket chain Auchan has introduced its first self service store in Poland. Situated in Warsaw, the new cashier-free Auchan GO shop... View Article
  
  Read more

• Ocado slashes prices on over 100 everyday essentials

  29-06-2023 01:01 via retailgazette.co.uk
  
  // Ocado says it has the “lowest milk price in the market” as it cuts prices on over 100 products
  // The online grocer said more than 60 of the reductions reflect the recent price cuts made by M&SOcado has cut the price of over 100 everyday food essentials as it looks to increase its value offer.
  The online grocer has reduced select items across its own brand, branded and M&S ranges by up to 25%.
  Shoppers can save on popular items including Lurpak, Parmesan, bread rolls
  
  Read more

Follow @retailuknws on Twitter!