Retail news

• Grant Shapps appears to row back on supermarket petrol prices law

  17-07-2023 20:56
  
  Energy secretary backs voluntary price comparison scheme in meeting with supermarket bosses rather than new lawThe energy secretary, Grant Shapps, appears to have rowed back on plans for a law to force supermarkets to make fuel prices more transparent, instead backing a voluntary price comparison scheme in a meeting with supermarket bosses.Shapps on Monday endorsed the non-mandatory scheme, which had been suggested by the competition regulator, after a summit with retailers which he had promised
  
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• DFS warns of ‘significantly worse’ market as cost of living crisis hits sales

  17-07-2023 15:57
  
  Furniture retailer says cost-cutting has helped offset impact on its profitsThe sofa retailer DFS has warned the market has been “significantly worse than expected” as demand for big-ticket items has been hit by the cost of living crisis.It said the tough economic climate, in which mortgage rates have hit their highest level since 2008, had depressed sales volumes by 15% to 20% across the market. Continue reading...
  
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• Supermarket bosses to meet Grant Shapps over ‘sky-high’ petrol prices

  17-07-2023 13:57 via retailgazette.co.uk
  
  Supermarket bosses will be facing energy secretary Grant Shapps after he warned he would hold retailers accountable if they continue to charge “sky high” petrol prices for customers.
  He will talk with executives from Tesco, Asda, Sainsbury’s and Morrisons, as well as those from fuel specialists BP, Shell and Esso this afternoon, vowing to read “rip-off retailers” the riot act over pump prices at the meeting, and tell them “enough is enough”.
  “I wan
  
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• John Lewis boosts third-party offer with 21 new fashion brands

  17-07-2023 12:36 via retailgazette.co.uk
  John Lewis is adding 21 new third-party fashion brands across its women’s, men’s and kidswear roster in time for the AW23 season.
  Drapers reports the cohort of new names will launch online and in-stores as early as August, with brands including Vivere, Olivia Rubin and Sister Jane.
  John Lewis will be the first retailer to stock Vivere, which was launched earlier this month by The Radius Group founder Damian Hopkins and fashion designer Savannah Miller.
  The collection aims t
  
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• Zalando offers size advice based on customers own body measurements

  17-07-2023 12:32 via retailgazette.co.uk
  
  Zalando is giving customers a new tool to receive size advice based on their unique body measurements.
  The German online fashion giant’s service is currently only available for customers in the DACH region, but is anticipated to expand to further markets in the future.
  The new offering allows users to take two pictures of themselves in tight clothing for Zalando to predict a person’s body measurements and help them find the right fit for their clothing purchases.Subscribe to Retail G
  
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• Hotter owner Unbound lines up administrators

  17-07-2023 10:49 via retailgazette.co.uk
  
  Unbound Group has filed an intention to appoint Interpath Advisory as administrators to its main operating subsidiary Beaconsfield Footwear, which operates Hotter Shoes.
  The group revealed last week it was on the brink of collapse unless it could raise £2m in emergency funding.
  The fundraising would support its formal restructuring plan after talks about a possible sale of the business fell through.
  However, Unbound continued discussions with several interested parties to acquire the trade
  
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• Virgin Wines profit slows but performance in line with expectations

  17-07-2023 10:06 via retailgazette.co.uk
  
  Virgin Wines expects to make no less than £500,000 in profit in its last financial year which although down on last year, is “in line with expecations”.
  The company, which made £5.1m in pre-tax profit last year, said sales had hit £59m in the year ended 30 June, down 14.7%.
  However, the online wine retailer acquired more than 90,000 new customers during the year ended 30 June 2023, a 9.2% year-on-year improvement.
  Meanwhile, conversion and cancellation rates also tr
  
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• H&M to open in Brazil

  17-07-2023 10:01 via retailgazette.co.uk
  
  H&M will open stores and launch online in Brazil in 2025 as part of its Latin America expansion.
  The fashion retailer revealed it would initially enter major cities in southeast Brazil with a view to increase its presence across the country over time.
  H&M’s first Latin American store opened in Mexico in 2012, and has shops in Chile, Colombia, Costa Rica, Ecudar, Guatemala, Panama, Peru and Uruguay.
  Group chief executive Helena Helmersson said: “We are thrilled to announce tha
  
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• Grant Shapps to meet supermarket bosses over ‘sky high’ petrol prices

  17-07-2023 09:53
  
  Asda, Tesco, Sainsbury’s and Morrisons to explain why they have failed to pass on savings to customersSupermarket bosses will meet Grant Shapps on Monday after the energy secretary pledged to hold “rip-off retailers” to account for charging motorists “sky high” prices for fuel.Executives from Asda, Tesco, Morrisons and Sainsbury’s – as well as those from fuel providers BP, Shell and Esso – will gather in Westminster, where they will come under pres
  
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• DFS posts record market share despite sales dip

  17-07-2023 09:39 via retailgazette.co.uk
  
  DFS said it achieved record market share last year, despite a dip in sales, as it expects profits to grow in the next 12 months.
  The furniture retailer shared in a trading update that its share of the market hit 38% in the year to 25 June 2023, attributing the increase to “the group’s leading brands, scale and well-invested integrated retail proposition”.
  It said it was on track to deliver an underlying pre-tax profits and amortisation of slightly above £30m, “despi
  
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• Grocery prices surge more than 25% in two years, says Which?

  17-07-2023 09:02 via retailgazette.co.uk
  
  Supermarket food prices have rocketed more than 25% over the past two years, according to new data from Which?, with the size of the increase reigniting calls for greater price transparency to be displayed to allow shoppers to find the best deal.
  The consumer group has called on the government to close loopholes that cause “confusing and inconsistent” pricing practices at some of the grocers.
  It comes as Which? reported Tesco to the Competition and Markets Authority last month becaus
  
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• John Lewis boss Sharon White: Criminals have a ‘licence to shopflift’

  17-07-2023 08:36 via retailgazette.co.uk
  
  John Lewis boss Sharon White has cautioned that criminals have a “licence to shoplift” following a rise in cases spurred by the cost-of-living crisis.
  The chairwoman has called for better protection from threats and abuse for store employees in England after a change to the law in Scotland.
  White said shoplifting had surged 26%, citing recent research by the British Retail Consortium which found more than 850 incidents of violence and abuse towards shop workers are recorded every day
  
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• Has Britain become a country of shoplifters? – podcast

  17-07-2023 04:00
  
  Shopkeepers complain the number of thefts from stores is soaring. Is the cost of living crisis to blame or organised gangs?It could be laundry tablets, lipstick or even baby milk. According to shopkeepers in the UK the number of thefts is rising. The British Retail Consortium said there were 8m instances of theft from shops last year, which cost businesses nearly £1bn. The Office for National Statistics reports a 22% rise.For shop assistants and managers it is a daily struggle, which can b
  
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• Zalando launches size advice based on customers own body measurements

  17-07-2023 02:00 via theretailbulletin.com
  
  Zalando has launched a new tool that enables customers to receive size advice based on their own body measurements by taking two pictures of themselves in... View Article
  
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• Virgin Wines posts full year results in line with expectations

  17-07-2023 02:00 via theretailbulletin.com
  
  Virgin Wines has reported a performance in line with expectations in the year to 30 June with total revenue of £59 million. The online wine retailer... View Article
  
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• Sidemen chooses Bluewater for first Sidemen Clothing store

  17-07-2023 02:00 via theretailbulletin.com
  
  YouTube collective Sidemen has chosen Kent’s Bluewater shopping centre for the opening of its first physical retail space. Spanning  6,000 square feet. the store will be... View Article
  
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• Sidemen chooses Bluewater for first Sideman Clothing store

  17-07-2023 02:00 via theretailbulletin.com
  
  YouTube collective Sidemen has chosen Kent’s Bluewater shopping centre for the opening of its first physical retail space. Spanning  6,000 square feet. the store will be... View Article
  
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• Postmark enters travel retail sector

  17-07-2023 02:00 via theretailbulletin.com
  
  Network Rail is welcoming greeting cards retailer Postmark to five of its 20 managed stations across the UK. Taking a total of over 3,755 square feet... View Article
  
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• Montblanc opens new boutique in Leeds

  17-07-2023 02:00 via theretailbulletin.com
  
  Montblanc have announced a new boutique opening in the City of Leeds, a hub of culture in the north of England. This will be the Maison’s... View Article
  
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• Hollister and Gilly Hicks open new store concept at Liverpool ONE

  17-07-2023 02:00 via theretailbulletin.com
  
  Abercrombie & Fitch’s Hollister has officially opened its new store at Liverpool ONE. Featuring an updated store design concept, the shop is situated on Liverpool ONE’s... View Article
  
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• DFS posts record market share

  17-07-2023 02:00 via theretailbulletin.com
  
  Furniture retailer DFS has said it achieved a record market share of 38% in the year to 25 June. In a trading update, the retailer said... View Article
  
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• DFS achieves record market share

  17-07-2023 02:00 via theretailbulletin.com
  
  Furniture retailer DFS has said it achieved a record market share of 38% in the year to 25 June. In a trading update, the retailer said... View Article
  
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• bp becomes first energy company to partner with the Retail Trust

  17-07-2023 02:00 via theretailbulletin.com
  
  bp is the first energy company to partner with the Retail Trust, the retail industry charity whose cause is to create hope, health and happiness for... View Article
  
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