Retail news

• Kering buys 30% stake in Valentino from Qatari fund

  27-07-2023 18:50 via ft.com
  French luxury group has option to buy full control of Italian fashion house within five years
  
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• House of Fraser owner warns of further store closures

  27-07-2023 17:45 via retailgazette.co.uk
  
  More House of Fraser stores could be set to close, Frasers Group has warned.
  The retailer’s chief executive Michael Murray said House of Fraser’s portfolio was “continually under review” and that some outlets were still “too big and we have to find solutions for the excess space”.
  The news comes after the business has suffered numerous store closures, with Mike Ashley admitting in 2019 that buying the department store was a mistake.
  Frasers has shut down eight
  
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• How supermarkets are profiting from Australia’s cost-of-living crisis

  27-07-2023 17:00
  
  Food prices are increasing about 8% a year, but some products are rising at nearly double that. What is going on? Is it price gouging?Get our morning and afternoon news emails, free app or daily news podcastYou’re not imagining things: it’s getting much more costly to put a meal on the table. In Australia, food prices are increasing by an annual rate of about 8%, although some products, such as dairy, are rising at almost double that pace. So what is going on – and what can gov
  
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• Greggs to launch cafés in Sainsbury’s stores

  27-07-2023 14:26 via retailgazette.co.uk
  
  Greggs has unveiled plans to open standalone cafés inside several Sainsbury’s stores before the end of the year.
  The Newcastle-based food retailer said it will launch “half a dozen” new sites with the supermarket, including “coffee-style operations” instore and concessions at its garages, The Grocer reported.
  The cafés will be operated by Greggs and will build on its existing partnership with Sainsbury’s.Subscribe to Retail Gazette for free
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• House of Fraser owner could close more big shops as department store model ‘broken’

  27-07-2023 13:23
  
  Retail group says pretax profits almost doubled as Sports Direct improved marginsThe owner of House of Fraser has said it could close more stores, after shutting eight in the past year and declaring “the department store globally is broken”.Michael Murray, the chief executive of Mike Ashley’s retail empire Frasers, which also owns Sports Direct, the designer street fashion chain Flannels and a plethora of brands from Jack Wills to Evans Cycles, said its department store portfol
  
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• House of Fraser owner could close more big shops as department store industry is ‘broken’

  27-07-2023 12:58
  
  Retail group says pretax profits almost doubled as Sports Direct improved marginsThe owner of House of Fraser has said it could close more stores, after shutting eight in the past year and declaring “the department store globally is broken”.Michael Murray, the chief executive of Mike Ashley’s retail empire Frasers which also owns Sports Direct, the designer street fashion chain Flannels and a plethora of brands from Jack Wills to Evans Cycles, said its department store portfoli
  
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• Ocado Solutions CEO Luke Jensen to retire

  27-07-2023 12:30 via retailgazette.co.uk
  
  Ocado Solutions boss Luke Jensen is to retire from his role and as executive director on 30 September to focus on external non-executive director positions.
  Jensen has served as chief executive since 2017 and has played a key role in the business’ global growth – from signing its first international partnership with Bon Preu during his first year to its most recent agreement with Lotte in Korea.
  He will be succeeded by Ocado non-executive director John Martin from 1 September, allowi
  
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• Frasers profit surges 40% as younger shoppers boost Sports Direct owner

  27-07-2023 11:57 via ft.com
  Retailer says Generation Z saves up for its clothes to stay ‘socially relevant’ in spite of cost of living crunch
  
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• Superdry promotes Shaun Packe to COO

  27-07-2023 11:18 via retailgazette.co.uk
  
  Superdry has elevated its global sourcing and sustainability director Shaun Packe to chief operating officer of the company, according to Drapers.
  Packe has served in his current role since 2019, after joining the business back in 2011 as head of sourcing and quality.
  The executive brings more than 25 years of experience in senior positions across retail apparel, including spending six years in various sourcing roles with George at Asda.Subscribe to Retail Gazette for free
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• My big Birmingham bookshop crawl: why booksellers are suddenly thriving

  27-07-2023 11:00
  
  In 2009, two bookshops a week were closing in the UK and the days of physical books seemed numbered. Now, indie stores are booming. What explains the turnaround – and can it be sustained?When Sarah Mullen was asked to set up a children’s book festival in a leafy suburb of Birmingham in 2012, she couldn’t find an independent bookseller to run the bookstall. “So we all rolled up our sleeves and did it ourselves,” she says. Pregnant with her third child, she had recent
  
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• Lounge Underwear to open 8 stores in next 12 months

  27-07-2023 10:36 via retailgazette.co.uk
  
  Lounge Underwear will open eight stores across the next 12 months as part of its ambitious expansion plans.
  The lingerie retailer is set to make its permanent bricks-and-mortar debut at Westfield White City in September, which will be followed by six more locations across the UK and one in Germany, Drapers reported.
  The stores -between 2,000 – 3,000sq ft- will be fitted with click-and-collect and home delivery capabilities for a service-led experience.
  A small collection of products will b
  
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• Aldi to create over 800 new store roles before Christmas

  27-07-2023 09:56 via retailgazette.co.uk
  
  Aldi is set to create more than 800 jobs in new stores across the UK between now and Christmas.
  The German discount grocer is opening new stores in towns and cities such as Oldham, Flitwick and Coventry as well as many others up and down the country, with starting pay for store assistants at £11.40 per hour nationally, and £12.85 per hour inside the M25, with the supermarket also paying for breaks.
  Roles available will include managerial positions, caretakers and cleaners, as well as
  
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• Co-op boss slams ‘out of control crime’ as it records almost 1,000 incidents a day

  27-07-2023 09:18 via retailgazette.co.uk
  
  The boss of Co-op has warned that retail crime is ‘out of control’ after revealing one of its stores was looted three times in a single day.
  New data released by the group showed it had recorded its highest-ever levels of retail crime, shoplifting and anti-social behaviour this year, with store recording almost 1,000 incidents every day.
  The business said there were more than 175,000 incidents in the first six months of 2023 up by more than a third over the last year, adding that one
  
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• Frasers profits soar in record year as acquisition spree pays off

  27-07-2023 09:00 via retailgazette.co.uk
  
  Frasers Group has seen profits nearly double for the year ending April 30, as adjusted pre-tax profit came in at £478.1m, p from £339.8m last year, hitting the higher end of its forecast range which was between £450-500m.
  The FTSE 100-listed firm founded by Mike Ashley said it expects profit to grow by at least 5% in the current financial year, with adjusted pretax profit in the range of £500m to £550m, representing “strong underlying trading profit progressio
  
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• THG snaps up City AM newspaper

  27-07-2023 08:39 via retailgazette.co.uk
  
  THG has snapped up London-based business newspaper City AM in surprise last minute bid to save it from the brink of insolvency, securing the future of its roughly 40-strong workforce.
  The Cult Beauty and Look Fantastic owner has never owned a newspaper but does have an online publishing arm with two magazines.
  THG has committed to the editorial independence of the paper and will not be closing the print arm of the company.
  The free to read London-based newspaper was put up for sale earlier
  
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• Hotter Shoes CEO and CFO depart after pre-pack deal

  27-07-2023 08:30 via retailgazette.co.uk
  
  Hotter Shoes chief executive Ian Watson and finance boss Gavin Manson have left the retailer following its pre-pack administration, Drapers reportsWatson has been at the helm of the footwear business since March 2019 and was previously CEO of children’s footwear brand Start-Rite Shoes and European managing director of German manufacturer Britax Childcare.Manson was the retailer’s chief financial officer between August 2016 and February 2022 as well as from October 2022 onwards.Subscr
  
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• Retailers that prioritise sustainability can boost sales and enhance brand equity

  27-07-2023 07:30 via retailgazette.co.uk
  
  Operating a successful retail business is challenging at the best of times, let alone amidst a cost of living crisis and rampant inflation, with margins squeezed from all sides. With consumers forced to tighten their purse strings and reduce discretionary spending, retailers are focused on competing successfully for sales and shoring up brand loyalty, while tackling rising return volumes.
  Ben Balfour
  Returns has been one of the thornier issues impacting the industry in recent years; several majo
  
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• Superdry promotes Shaun Packe to Chief Operating Officer

  27-07-2023 02:00 via theretailbulletin.com
  
  High street retailer Superdry has appointed Shaun Packe as its new Chief Operating Officer. Packe, who currently serves as the company’s Global Sourcing and Sustainability Director,... View Article
  
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• Q&A: Alice Tomasevic, Strategic Account Director, Wunderkind

  27-07-2023 02:00 via theretailbulletin.com
  
  Wunderkind’s performance marketing solution allows brands and retailers to scale marketing channels without relying on third-party cookies through proprietary identity management technology, which is purpose-built for... View Article
  
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• Q&A: Alice Tomasevic, Senior Director of Client Operations, Wunderkind

  27-07-2023 02:00 via theretailbulletin.com
  
  Wunderkind’s performance marketing solution allows brands and retailers to scale marketing channels without relying on third-party cookies through proprietary identity management technology, which is purpose-built for... View Article
  
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• Ocado Solutions chief executive to step down

  27-07-2023 02:00 via theretailbulletin.com
  
  Ocado Solutions chief executive Luke Jensen is to retire from his role on 30 September. He will also step down as executive director from the Ocado Group... View Article
  
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• Lego to open second Irish store at Blanchardstown Shopping Centre

  27-07-2023 02:00 via theretailbulletin.com
  
  Lego has announced plans to open a second store in Ireland this year. Due to launch in October, the shop at Blanchardstown Shopping Centre will include... View Article
  
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• IKEA London transforms Hackney Community Centre with charity makeover

  27-07-2023 02:00 via theretailbulletin.com
  
  Five London IKEA stores have funded and completed a makeover of a community centre in London’s Hackney. The centre is run by Hackney Quest, a non-profit... View Article
  
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• Government waters down proposed new duty to prevent sexual harassment

  27-07-2023 02:00 via theretailbulletin.com
  
  The Worker Protection (Amendment of Equality Act 2010) Bill is a significant legislation that holds relevance for the retail sector, which employs around 3m people in... View Article
  
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• Frasers Group posts surge in full year profit

  27-07-2023 02:00 via theretailbulletin.com
  
  Sports Direct and House of Fraser owner Frasers Group has posted a 15.8% increase in full year revenue to £5.56 billion after its elevation strategy continued... View Article
  
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• Footwear retailer shoezone to open new store in Beverley

  27-07-2023 02:00 via theretailbulletin.com
  
  A brand new store from footwear retailer shoezone will open in Beverley on Saturday 29th of July at Unit 7A at Flemingate Shopping Centre, HU17 0NQ.... View Article
  
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• Food bank donation bags to be sold in 300 Tesco stores

  27-07-2023 02:00 via theretailbulletin.com
  
  Tesco has begun selling small donation bags pre-filled with items most needed by food banks in 300 of its stores. Available to pick up as customers... View Article
  
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• Co-op Warns of spiralling store crime by criminal gangs

  27-07-2023 02:00 via theretailbulletin.com
  
  Retail giant Co-op has recently released data that sheds light on a worrying surge in retail crime, shoplifting, and anti-social behavior. The figures show a shocking... View Article
  
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• Authentic Brands Group comes to the rescue of Rockport

  27-07-2023 02:00 via theretailbulletin.com
  
  Authentic Brands Group (ABG), the company behind Ted Baker and Quicksilver, has successfully rescued the innovative footwear brand Rockport from bankruptcy. The United States Bankruptcy Court... View Article
  
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• Amazon offers to change marketplace rules to address CMA concerns

  27-07-2023 02:00 via theretailbulletin.com
  
  Amazon has offered to change its marketplace rules to address competition concerns raised by the Competition and Markets Authority. If the proposals are accepted, the CMA... View Article
  
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• Aldi to create more than 800 new store roles before Christmas

  27-07-2023 02:00 via theretailbulletin.com
  
  Aldi is set to create more than 800 jobs in new stores across the UK between now and Christmas. Aldi is opening new stores in towns... View Article
  
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