Retail news

• Currys boss warns of price rises as it begins partnership talks with Frasers

  06-07-2023 17:11 via retailgazette.co.uk
  
  Currys boss Alex Baldock has warned price increases are set to continue as the electricals retailer looks to safeguard its profit margin.
  The chief executive also revealed it had started discussions about a possible tie-up with shareholder Frasers, which widened its stake in the business to 10.4% last week.
  “This is a potentially interesting partnership,” he said, “There are a number of avenues that we’re exploring.”
  The retailer revealed on Thursday its profits had
  
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• Currys shoppers cut back on smart speakers and laptops as inflation bites

  06-07-2023 16:56
  
  Electricals retailer forecasts another tough year and says many customers turning to creditCurrys expects sales to continue to fall this year as households buy fewer TVs, laptops and smart speakers because of pressure from the cost of living crisis.The electricals retailer said sales of smart speakers had “fallen off a cliff” and people were delaying replacing items such as laptops and TVs as household spending power was squeezed by stubbornly high inflation. Continue reading...
  
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• Currys: dual cyclone sucks for high street sales vacuum gleaner

  06-07-2023 16:23 via ft.com
  The UK electronics retailer with a large stores estate has a cyclical problem and a secular challenge
  
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• This is not just an AGM… M&S should at least give shareholders a cuppa | Nils Pratley

  06-07-2023 15:21
  
  The Marks & Spencer chairman’s digital push is good for access – but shareholders should be encouraged to turn upDoes this sound like a warm and welcoming invitation to an annual general meeting of shareholders?“Board members will not be available for interaction with shareholders in person.” Followed by: “Any shareholders travelling to the venue against the board’s recommendation will be advised to join the meeting electronically.” And finally: &ldq
  
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• Currys expects further falls in sales as inflation and rate rises bite

  06-07-2023 15:17 via ft.com
  Electronics retailer says customers are spending on appliances such as coffee machines to try to save money
  
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• Louis Vuitton redesigns Tambour watch after shift to boutique horology model

  06-07-2023 14:11 via ft.com
  
  Inspired by the house’s famous trunks, Jean Arnault aims to increase the exclusivity — and price — of the timepieces
  
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• Bank governor accuses UK retailers of overcharging on petrol and other goods

  06-07-2023 13:10
  
  Unnecessarily high fuel prices will have to be tackled to help reduce inflation, suggests Andrew BaileyThe governor of the Bank of England has accused retailers of putting further strain on households by overcharging consumers on petrol and other goods at a time when UK authorities are struggling to curb inflation.Andrew Bailey suggested unnecessarily high fuel prices would have to be tackled in order to help bring inflation – which is above 8% – back to the Bank’s 2% target an
  
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• Asda rolls out café menu on Just Eat

  06-07-2023 13:00 via retailgazette.co.uk
  
  Asda has extended its partnership with delivery giant Just Eat to include items from its café menu.
  The supermarket has rolled out the service to an additional 129 locations following a successful trial in 42 of its stores.
  From today, consumers can purchase breakfast sandwiches, paninis, pizza and sweet treats via the Just Eat platform.
  The supermarket said that the trial period saw thousands of customers placing orders each week, with pizza being the most popular item.Subscribe to Retai
  
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• Virgin Wines bands with WHSmith to launch ‘exclusively curated’ collection

  06-07-2023 12:36 via retailgazette.co.uk
  
  Virgin Wines has signed a new strategic partnership with WHSmith Travel, as the alcohol retailer seeks to enhance its growth strategy.
  An “exclusively curated range” of the company’s wines is now being stocked across 39 WHSmith stores, throughout airports and train stations across the UK.
  Virgin Wines CEO Jay Wright said: “This is a great opportunity for thousands of WHSmith customers to sample the outstanding wines that Virgin Wines sources from across the world and we h
  
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• Clarks names former Under Armour exec as new MD

  06-07-2023 12:14 via retailgazette.co.uk
  
  Clarks has hired Bob Neville as its new managing director for the United Kingdom and Republic of Ireland.
  Neville will join the company in August, after spending 30 years in Hong Kong leading teams with brands including Under Armour, New Balance and Adidas.
  The executive most recently served as Under Armour’s global vice president of retail.
  Neville brings experience working throughout the Asia-Pacific region, with a particular focus on China and has a track record of leading profitable bu
  
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• Currys forecasts fall in sales as UK shoppers delay big-item purchases

  06-07-2023 12:04
  
  Prediction comes despite consumers using more credit to offset cost of living crisisCurrys expects sales to continue to fall this year as households delay replacing TVs and laptops despite using credit to buy more energy-efficient appliances such as better washing machines, microwaves and air fryers in at attempt to save money over the longer term.The electricals retailer said it would not pay an end-of-year dividend to shareholders, was cutting payments to its pension fund, and reducing investm
  
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• Currys profits dragged down by weak Nordics performance

  06-07-2023 09:36 via retailgazette.co.uk
  
  Currys full-year profits have plummeted 38% after inflationary pressures caused its Nordic’s business to come to “an abrupt halt”.
  Adjusted pre-tax profits for the electricals retailer plunged to £119m in the year to 29 April 2023, down from £192m, weighed down by poor performance in its international arm.
  On a statutory basis, the retailer dropped into the red with a pre-tax loss of £450m, due to a £511m impairment charge relating to the 2014 merge
  
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• Interview: How Decathlon is using digital to stay ahead of the sporting pack

  06-07-2023 09:25 via retailgazette.co.uk
  
  When global sportswear giant Decathlon hired Ikea’s digital boss Barbara Martin Coppola as its new chief executive last year it signalled its desire to compete with the world’s best in online.
  While Coppola – who spent seven years at Google prior to her stint as the Swedish furniture giant’s first chief digital officer – certainly ups Decathlon’s digital expertise, plans were already in place to transform the business on this front.
  Jérôme Du
  
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• Tesco offers staff private virtual doctor appointments

  06-07-2023 08:47 via retailgazette.co.uk
  
  Tesco is to offer its 310,000 UK staff virtual appointment with a private doctor as the NHS continues to creak.
  The new initiative will give staff and their families access to unlimited GP appointments seven days a week, according to Reuters.
  It comes at a time where ongoing pressure on the NHS has left people unable to get appointments with their local GPs and ever-growing waiting lists for hospital treatments.
  According to NHS data, almost five million patients each month in England wait more
  
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• Deliveroo dinner parties and overcooking eggs: Britons’ kitchen skills and blunders revealed

  06-07-2023 07:00
  
  Fifth of survey respondents had ‘no confidence’ in kitchen, with microwave identified as ‘gadget we cannot live without’Boiling an egg is supposed to be cookery 101 but, while some Britons are rolling their own pasta and blowtorching the perfect creme brulee, research shows one in four would struggle to serve soft-boiled eggs and soldiers.While more than a third of those interviewed about their skills in the kitchen rated themselves as “excellent” or “ve
  
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• Virgin Experience Days appoints new chief executive

  06-07-2023 02:00 via theretailbulletin.com
  
  Virgin Experience Days has appointed Christoph Homann as its new chief executive. The move coincides with the business entering its next phase of growth in the... View Article
  
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• UK retail rewards programmes influence £17.4 billion in consumer spending

  06-07-2023 02:00 via theretailbulletin.com
  
  New report ‘The Constrained Consumer’ by Webloyalty and Cebr is released today, the findings examine the pressures faced by senior retail decision makers and consumers –... View Article
  
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• UK Flooring Direct acquired by Carpetright owner

  06-07-2023 02:00 via theretailbulletin.com
  
  UK Flooring Direct has been acquired by Keswick Flooring, a subsidiary of Nestware Holdings, from administrator Teneo Financial Advisory. The move has saved 85 jobs at... View Article
  
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• The White Company to open first standalone store in Northern Ireland

  06-07-2023 02:00 via theretailbulletin.com
  
  The White Company is to open its first standalone store in Northern Ireland at Belfast’s Victoria Square. Due to launch this autumn, the store will be... View Article
  
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• L’Occitane to return to Trafford Centre

  06-07-2023 02:00 via theretailbulletin.com
  
  L’Occitane is returning to Manchester’s Trafford Centre with the opening of a new boutique. After seven years away, the brand will resume its residency by launching... View Article
  
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• Dune London teams up with Reskinned on preloved takeback scheme

  06-07-2023 02:00 via theretailbulletin.com
  
  Dune London has teamed up with Reskinned, the clothing and footwear takeback and resale brand. The retailer is working with Reskinned to give its shoes a... View Article
  
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• Currys profits fall after poor performance in Nordics region

  06-07-2023 02:00 via theretailbulletin.com
  
  Electricals retailer Currys has posted a drop in full-year profit following a poor performance at its Nordics business. In the 12 months to 29 April, the... View Article
  
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• Crew Clothing appoints Neal Skupski as brand ambassador

  06-07-2023 02:00 via theretailbulletin.com
  
  Crew Clothing has appointed Neal Skupski, the number one seed in the men’s doubles at Wimbledon, as a brand ambassador. Skupsi will wear Crew Clothing off... View Article
  
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• Asda owner to be hauled in front before MPs over fuel prices

  06-07-2023 00:03 via retailgazette.co.uk
  
  Asda owner Mohsin Issa has been asked to appear in front of MPs as they demand answers over its fuel pricing.
  Issa has been requested to attend the Business and Trade Select Committee later this month to clarify statements made by Asda chief commercial officer Kris Comerford last week.
  Issa and Asda have yet to confirm whether the supermarket owner will attend.
  A Competition and Markets Authority (CMA) probe revealed this week that drivers buying fuel in supermarkets last year paid around 6p per
  
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• Asda owner to be grilled by MPs over fuel prices

  06-07-2023 00:03 via retailgazette.co.uk
  
  Asda owner Mohsin Issa has been asked to appear in front of MPs as they demand answers over its fuel pricing.
  Issa has been requested to attend the Business and Trade Select Committee later this month to clarify statements made by Asda chief commercial officer Kris Comerford last week.
  Issa and Asda have yet to confirm whether the supermarket owner will attend.
  A Competition and Markets Authority (CMA) probe revealed this week that drivers buying fuel in supermarkets last year paid around 6p per
  
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