Retail news

• Sainsbury’s boss writes to shoppers to give assurance on price

  07-07-2023 18:43 via retailgazette.co.uk
  
  Sainsbury’s boss Simon Roberts has written a letter to shoppers reassuring them over food prices.
  Penning an email, he said the grocer was aware customers were worried about the rising cost of living, and that it had a “responsibility” to do everything it could to support its clientele.
  He went on to assure the supermarket was “fully committed” to offering the best prices to shoppers.
  Roberts explained the retail giant had invested £60m over the past three mon
  
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• Sainsbury’s boss assures shoppers over prices in letter

  07-07-2023 18:43 via retailgazette.co.uk
  
  Sainsbury’s boss Simon Roberts has written a letter to shoppers reassuring them over food prices.
  Penning an email, he said the grocer was aware customers were worried about the rising cost of living, and that it had a “responsibility” to do everything it could to support its clientele.
  He went on to assure the supermarket was “fully committed” to offering the best prices to shoppers.
  Roberts explained the retail giant had invested £60m over the past three mon
  
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• All hail the smart coat revival – the puffer has finally puffed its last

  07-07-2023 17:39
  
  The padded jacket’s demise is big fashion news this week as brands showcase their autumn collectionsThe puffer coat is finally running out of puff. The quilted nylon outerwear that has dominated parks and playgrounds for five winters is set to be challenged by “the return of the smart coat”, according to some of the biggest names on the British high street.John Lewis, who caused uproar by calling time on the floral midi-length dress in February, is once again leading the charge
  
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• Levi’s slashes profit forecast as sales plummet

  07-07-2023 15:06 via retailgazette.co.uk
  
  Levi Strauss has lowered its annual profit outlook, revealing a plunge in wholesale revenues and US soft sales.
  The fashion retailer‘s predicts its adjusted profit to be between $1.10 and $1.20 (£0.90) per share for this year, compared to its previous prediction of $1.30 (£1.00) to $1.40 (£1.10).
  Net sales fell 9% for Q2 ended 28 May, making it the biggest quarterly decline since Q1 2021, Refinitiv data reports.Subscribe to Retail Gazette for free
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• How much!? See how the cost of a barbecue has gone up in the UK

  07-07-2023 13:00
  
  Sausages up 31%, burgers up 64% … add your favourite foods to our visual tool to see how inflation has pushed up the price in the past five yearsOne of the biggest drivers behind the cost of the British barbecue is meat. In the past five years, the price of four frozen beef burgers has jumped 64.4%, from £2.02 to £3.32, much of that in the past year alone, when the price has increased by 80p. Sausages have also soared, with the price of 1kg rising by more than £1.50 sinc
  
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• Ann Summers restructure sees Gold and Hollins in new roles

  07-07-2023 12:51 via retailgazette.co.uk
  
  Ann Summers has rearranged its executive team as part of a restructuring of the retailer, with Vanessa Gold undertaking the role of company chair and Maria Hollins being promoted to chief executive, Retail Week reports.
  The shake-up follows the death of chief executive Jacqueline Gold earlier this year after battling breast cancer for 7 years.Her sister Vanessa Gold has held the position since February 2022, after previously being joint managing director. She will be looking after a wider portfo
  
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• Savannah Miller launches label with John Lewis concessions

  07-07-2023 12:01 via retailgazette.co.uk
  
  Fashion designer Savannah Miller and business owner Damian Hopkins have banded together to launch a new womenswear label named Vivere.
  The collection aims to deliver “affordable, high-quality, modern wardrobe staples” to shoppers, and is set to debut in autumn/winter this year.
  The label will be released in August through VivereLondon.com and the John Lewis website.
  It will also be available to buy from various John Lewis shops throughout the UK, including stores in Oxford Street, Ed
  
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• Home Bargains adds in-store bakeries nationwide

  07-07-2023 11:51 via retailgazette.co.uk
  
  Home Bargains has opened in-store bakeries at more than 64 UK stores, with plans to roll out more over the coming year, following a successful trial in Stoke-on-Trent.
  The discount retailer has already introduced bakeries in stores across such locations as Darlington, Basingstoke and Merthyr, and now will add another 20 bakeries in stores across the UK over the next 12 months.
  Visitors will be able to bag a selection of baked goods, from baguettes and tiger rolls to pastries, muffins and doughnu
  
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• ProCook hires former Walmart exec as new CEO

  07-07-2023 11:04 via retailgazette.co.uk
  
  ProCook has named Lee Tappenden as its new chief executive, who will step up to the plate in October.
  The appointment comes after the cutlery company’s founder and former chief executive Daniel O’Neill revealed he would be stepping down from his position.
  Tappenden brings 25 years of experience working with Walmart Stores and Asda, where he eventually progressed to president and CEO of Walmart Canada.
  The retail expert currently serves as president of Nasdaq-listed synthetic biology
  
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• Sephora to open second London store in Westfield Stratford City

  07-07-2023 10:07 via retailgazette.co.uk
  
  Sephora is looking at opening a second location in London this November, just eight months after it unveiled its debut store.
  The beauty retailer is understood to be exploring a second branch at Westfield Stratford City in east London, WWD reported.
  The LVMH-owned retailer returned to the UK market after 18 years this year with a 6,000sq ft flagship space inside Westfield White City.Subscribe to Retail Gazette for free
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• Argos to close 100 stores across the UK within the next year

  07-07-2023 09:45 via retailgazette.co.uk
  
  Argos is set to shutter 100 store closures in the UK over the next year as it closes more locations starting next month.
  The retailer‘s high street branches are being replaced by concessions inside owner Sainsbury’s.
  Locations in Cardiff and Newport will be the next to go, alongside branches in Hull, Grimsby and Scunthorpe, according to The Sun.
  Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning The closures
  
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• JD Sports to take control of Iberian unit for £427m

  07-07-2023 09:33 via retailgazette.co.uk
  
  JD Sports is to buy out the minority investors of its Iberian business as it progresses with its ambitious international expansion strategy.
  The sportswear retailer will pay £427m (€500.1m) to acquire the remaining 49.98% shares in Iberian Sports Retail Group (ISRG), which are currently held by Balaiko Firaja Invest and Sonar Holdings, to give it 100% ownership.
  The group revealed it had started talks back in May about the future ownership of the business, which operates more than 460
  
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• Boohoo hands staff shares worth almost £6m

  07-07-2023 09:26 via retailgazette.co.uk
  
  Boohoo has handed over 17.1 million shares, worth almost 6m to 46 of its staff.
  The fashion giant said the move was part of its Discretionary Share Award Plan and confirmed that no executive directors received any of the shares.
  This development has taken place during Boohoo’s ongoing public dispute with Revolution Beauty.Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning In the midst of the feud, Boohoo, which
  
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• Sainsbury’s bosses defend profits: ‘We are not a rip-off retailer’

  07-07-2023 09:03 via retailgazette.co.uk
  
  Sainsbury’s bosses have insisted that the supermarket is “not a rip-off retailer” as they faced scrutiny over the company’s profits in relation to the rocketing inflation of food prices.
  The grocer also defended higher pay packages for its senior executives at its annual meeting in London on Thursday.
  It comes two days after chief executive Simon Roberts said “food inflation is starting to fall” as Sainsbury’s reported a 9.2% jump in first quarter sales.
  
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• Tourism rise sparks new calls for return of tax-free shopping

  07-07-2023 08:31 via retailgazette.co.uk
  
  A rise in tourism has sparked new calls for the government to u-turn on its decision to remove tax-free shopping for overseas customers.
  British Retail Consortium chief executive Helen Dickinson said the government must take advantage of the summer surge by “reintroducing VAT relief for overseas visitors to boost the UK’s attractiveness compared with other destinations and stimulate spending”.
  It comes as data by the trade association found that footfall in high streets and maj
  
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• Stone rarities show scale of Tiffany’s newfound ambition

  07-07-2023 06:00 via ft.com
  
  Brand aims to restore its ‘aesthetic excitement’, signalled by arrival of spectacular yellow rough diamond and emerald
  
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• How pearls went from bourgeois baubles to boys’ bling

  07-07-2023 06:00 via ft.com
  
  The gem has found new lustre, as edgy pieces attract young men, though environmental concerns are casting a shadow
  
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• High jewellery houses benefit from buyers undeterred by inflation

  07-07-2023 06:00 via ft.com
  
  With art-filled flagships and pieces evoking exotic travels, high jewellery is buoyant, with a clientele able to weather economic stress
  
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• Virgin Wines announces strategic partnership with WH Smith Travel

  07-07-2023 02:00 via theretailbulletin.com
  
  Virgin Wines has signed a new strategic partnership with WH Smith’s travel arm. The online wine retailer said the move marks a significant step in its... View Article
  
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• Salsa Jeans opens first standalone store in Ireland

  07-07-2023 02:00 via theretailbulletin.com
  
  Salsa Jeans, the Portuguese denim brand, has opened its first standalone store in Ireland at the Liffey Valley Shopping Centre. The shop offers the brand’s range... View Article
  
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• Q&A: Mikkel Grene, chief executive of Søstrene Grene

  07-07-2023 02:00 via theretailbulletin.com
  
  Here we catch up with Mikkel Grene, chief executive of Danish homewares retailer Søstrene Grene, about the history and philosophy of the family-owned brand, and its... View Article
  
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• ProCook appoints new chief executive as founder moves to non-exec role

  07-07-2023 02:00 via theretailbulletin.com
  
  Kitchenware brand ProCook Group has appointed Lee Tappenden as its group chief executive. The move follows the announcement earlier this year that founder Daniel O’Neill intended... View Article
  
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• Meander Apparel eyes expansion

  07-07-2023 02:00 via theretailbulletin.com
  
  Meander Apparel has secured funding for growth as it gears up for the launch of its crowdfunding campaign later this month. The sustainable outdoor clothing and... View Article
  
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• Hop Burns & Black uses Lightspeed and Shopify to run award-winning retail

  07-07-2023 02:00 via theretailbulletin.com
  
  Hop Burns & Black is a craft beer, hot sauce, and vinyl records retailer based in Peckham Rye, South London. Two-time winner of Time Out’s Most... View Article
  
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• Comment: we need the survival of stalwarts like Wilko

  07-07-2023 02:00 via theretailbulletin.com
  
  Popping into my local Wilko store in North London recently for some essential items I was disappointed to find that it appeared the range of rabbit... View Article
  
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• BJSS launches report on New York stores innovating retail technology

  07-07-2023 02:00 via theretailbulletin.com
  
  BJSS has launched Top Stores That Are Innovating Retail Technology In 2023, a report exploring how New York’s most notable concept stores are redefining the bricks-and-mortar... View Article
  
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• Arket to open first physical location in Spain

  07-07-2023 02:00 via theretailbulletin.com
  
  Arket, the Nordic fashion and lifestyle brand, is to expand into Spain with the opening of a flagship store in Barcelona this autumn. The H&M-owned business... View Article
  
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