Retail news

• Attorney general and close family hold £130,000 in shares in six FTSE 100 firms

  09-07-2023 15:00
  
  Exclusive: Victoria Prentis’s shareholdings not disclosed in registers despite potential for conflicts of interestRevealed: shares held ‘in secret’ by scores of MPs raise questions about vested interestsWhich UK MPs own shares in publicly listed companies?The attorney general, Victoria Prentis, and her close family members have shares in six FTSE 100 companies worth more than £130,000 that have never been publicly disclosed, the Guardian can reveal.Prentis and her family
  
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• John Lewis accused of ‘lack of respect’ with housing proposals

  09-07-2023 13:59 via retailgazette.co.uk
  
  John Lewis Partnership’s rental housing scheme is at risk after local councillors promised to oppose the project as they accused the retailer of a “total lack of respect”.
  The development project in Bromley was labelled as “just not acceptable” by the borough’s Liberal Democrat Councillor who claimed the retailer failed to promise enough affordable homes, The Telegraph reported.
  John Lewis submitted planning applications for its projects in Bromley and West Ea
  
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• Iceland on track for highest profit in over a decade

  09-07-2023 13:27 via retailgazette.co.uk
  
  Iceland is expecting deliver its highest profit in over a decade thanks to its increased focus on value and cost-saving measures.
  The supermarket shared with bondholders last week it was confident that this year’s underlying profit will be its strongest in ten years and exceed the £176m it made in 2021 following a sales boost as a result of the closure of hospitality space in the lockdowns, The Times reported.
  It attributed the profit boost to energy cost savings, strong sales growth
  
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• Amazon warehouse workers target Prime Day for further strike action

  09-07-2023 12:52 via retailgazette.co.uk
  
  Around 900 Amazon warehouse workers are set to walk out for three days next week in a dispute over pay.
  The strike will take place from 11 to 13 July in Coventry for two hours during the morning and in the evening, with the first two action days coinciding with the retail giant’s Prime Day sales event.
  “GMB members in Coventry have time and time again shown that this fight will only end with 15 pounds an hour and union rights,” GMB Senior Organiser Rachel Fagan said.Subscribe t
  
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• M&S chair admits turnaround has ‘taken too long’

  09-07-2023 12:23 via retailgazette.co.uk
  
  M&S’ chairman Archie Norman has admitted the retailer’s turnaround has “taken too long”.
  Speaking to LBC’s Money podcast, Norman revealed M&S was more than a third of the way towards reaching the target it set out in 2016 and warned that it “could slip back” if executives don’t pay close enough attention.
  Norman joined the retailer less than a year after then-chief executive Steve Rowe unveiled a five-year cost cutting programme and a shake
  
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• The march of the mash-up enters increasingly bizarre territory

  09-07-2023 06:00
  Collaborations between household names are being stoked by shrinking ad and marketing budgets and AI-generated ideas
  
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• ‘Everything’s going up’: what happens to Australia’s shops when customers cut back?

  09-07-2023 02:00
  
  Bakeries, bars and takeaway outlets take a hit amid the cost-of-living crisis as prices rise and people spend lessGet our morning and afternoon news emails, free app or daily news podcastAt Edgars Road bakery in Melbourne’s north, Berkay Iris is counting change. An elderly woman has sprawled coins across the counter. Without having to ask he picks out her order. It’s old-school service: Iris knows everyone by name, what they’re getting and how their families are.He says everyon
  
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