Retail news

• Sellers boycott Etsy UK over hike in sales income held back on reserve

  01-08-2023 19:45
  
  Changes at online craft marketplace prompt anger among vendors as some report up to 75% of takings kept for at least 45 daysEtsy sellers have boycotted the online craft marketplace after it stepped up the amount of sales income it holds back from some vendors to ensure items are delivered as promised.The UK’s small business commissioner, Liz Barclay, said she had contacted the site about a fortnight ago after a surge in complaints by sellers who had suddenly seen as much as 75% of their ta
  
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• Dr Martens targeted by activist investor

  01-08-2023 15:46 via retailgazette.co.uk
  
  Dr Martens has been targeted by an activist investor after its shares fell due to a sales decline and supply chain issues.
  Shares in the footwear company increased yesterday by roughly 6% after Sparta Capital became one of its biggest shareholders by obtaining stock worth “tens of millions of pounds”, according to Sky News.
  The news comes after the valuation of Dr Martens fell following a decline in sales and weakening demand in the US market.
  The company was valued at £3.7bn a
  
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• Greggs sales boosted by new openings but margin pressures remain

  01-08-2023 14:07 via ft.com
  UK food-to-go retailer’s chief warns over ‘significant’ inflation from labour costs despite food and energy inflation ‘softening’
  
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• Birkenstock owner mulls $8bn IPO

  01-08-2023 10:54 via retailgazette.co.uk
  
  Birkenstock’s private equity owner L Catterton is considering launching an IPO of the shoe company, which could happen as soon as September.
  The stock market listing could value the footwear brand at over $8bn, sources told Bloomberg.
  Final decisions on the timing or size of the IPO are understood not to have taken place.Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning L Catterton, which is backed by luxury giant
  
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• Shoplifters face prison time as retail crime incidents soar

  01-08-2023 09:29 via retailgazette.co.uk
  
  Prolific shoplifters will face compulsory jail sentences for recurring offenses, alongside an increased adoption of facial recognition technology by police and retailers, the Times reports.
  According to the title, ministers are set to implement harsher sentences for several offences in a crime and justice bill that will require judges to impose custody on those who are caught repeatedly.
  Currently, shoplifting, burglary, theft and common assault do not automatically result in a jail sentence but
  
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• BRC: Falling food inflation might not continue as Russia ends grain deal

  01-08-2023 09:09 via retailgazette.co.uk
  
  Food price inflation has slowed to its lowest level this year as prices of staples including oils, fish, and breakfast cereals fall.
  According to the British Retail Consortium and NielsenIQ retail analysts, food inflation slowed to 13.4% in July, from 14.6% in June – the lowest level since December 2022.
  BRC chief Helen Dickinson said the figures were “cause for optimism” but warned of supply chain issues ahead.
  Russia’s withdrawal from the Black Sea Grain Initiative and
  
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• Greggs profits and sales rise as ‘strong trading momentum’ continues

  01-08-2023 08:53 via retailgazette.co.uk
  
  Greggs has posted a rise in sales and 14% boost in first-half profit profits as it maintained its full year guidance as inflation eases and it opens new stores.
  Following ‘strong trading momentum’, the bakery retailer’s pre-tax profit hit £80m for the 26 weeks to July 1, 2023, up from £55.8m during the same period last year.
  Total sales increased to £844m from £694.5m for the period as company managed shop sales on a like-for-like basis rose 16%.
  Subscr
  
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• Travis Perkins profit slips 31% amid ‘challenging’ market conditions

  01-08-2023 08:40 via retailgazette.co.uk
  
  Travis Perkins has seen its profits fall by almost a third for the six months to June 30 amid “challenging” market conditions and said its near-term trading was expected to remain difficult.
  Britain’s biggest supplier of building materials, which owns the Toolstation chain blamed weak domestic and new build housing markets for the poor performance, which saw its surplus fall to £112m – down 31%.
  Revenues also slipped 2.5% to £2.47bn as the business said&n
  
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• Etsy faces boycott threats after withholding sellers’ money

  01-08-2023 08:26 via retailgazette.co.uk
  
  Etsy is facing growing calls for sellers to boycott the site for withholding their money.
  The online marketplace has been facing heavy criticisms for implementing a reserve system meaning some sellers had 75% of their takings frozen for 45 days, leaving them struggling to trade.
  It is not clear how many would join in any boycott and Etsy said it would continue to review its reserve system.
  It added that it took seller feedback seriously and that payment reserves were used to “keep the mark
  
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• JD Sports dodges fine over Leicester City price fixing, CMA concludes

  01-08-2023 08:18 via retailgazette.co.uk
  
  JD Sports has avoided a fine despite being found to have broken competition law with Leicester City football club, the Competition and Markets Authority (CMA) concluded yesterday.
  In July, the CMA revealed the two companies had “colluded to restrict competition” in the sales of the football club’s clothing, including its replica kit.
  At the time, the UK watchdog revealed it had fined Leicester City £880,000 after it confessed to limiting online sales of replica kits with
  
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• JD Sports dodges fine over Leicester City price fixing case

  01-08-2023 08:18 via retailgazette.co.uk
  
  JD Sports managed to avoid a fine despite being found to have broken competition law with Leicester City football club, the Competitions and Markets Authority (CMA) has announced.
  In August 2018, JD Sports agreed to stop selling Leicester City-branded clothing online for the 2018/19 season.
  In January 2019, it also agreed that it would not undercut the football club online by making the club’s merchandise exempt from its free online delivery for all orders over £70 promotion.
  Earlier
  
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• Q&A: Gijs Coppens, OpenUp Founder & Healthcare Psychologist

  01-08-2023 02:00 via theretailbulletin.com
  
  OpenUp supports companies, employees, and employees’ families with their mental well-being. Can you tell us a bit about your background? After qualifying as an engineer from... View Article
  
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• Personalised digital engagement crucial to influencing luxury consumers, reveals exclusive research from Wunderkind  

  01-08-2023 02:00 via theretailbulletin.com
  
  89% of consumers expect to maintain or increase their online luxury purchases this year, Wunderkind’s latest research shows, as the luxury sector remains resilient despite cost-of-living... View Article
  
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• Mirakl announces a €100m revolving credit facility to fuel growth

  01-08-2023 02:00 via theretailbulletin.com
  
  Mirakl has announced the signing of a €100 million revolving credit facility to accelerate growth. The move follows Mirakl’s latest Series E fundraising round of $555... View Article
  
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• Kering appoints chief financial officer

  01-08-2023 02:00 via theretailbulletin.com
  
  Luxury group Kering has appointed Armelle Poulou as chief financial officer. Having joined the group in 2019, Poulou is currently director of corporate finance, treasury, and... View Article
  
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• In The Style hires Perrie Sian as first creative director

  01-08-2023 02:00 via theretailbulletin.com
  
  Fashion retailer In The Style has hired influencer Perrie Sian as its first creative director. According to Drapers, she will be leading all creative aspects of... View Article
  
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• Greggs posts strong first half growth following boost from evening trading

  01-08-2023 02:00 via theretailbulletin.com
  
  Greggs has posted a strong increase in first half sales and profit after reaping the benefits of evening trading and its expansion into travel hubs. In... View Article
  
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• CMA investigation concludes that Leicester City and JD Sports broke competition law

  01-08-2023 02:00 via theretailbulletin.com
  
  The Competition and Markets Authority has concluded that JD Sports and Leicester City Football Club broke competition law by “colluding to restrict competition in the sales... View Article
  
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• UK shop prices in first monthly fall for two years amid big discounts

  01-08-2023 01:01
  
  Clothing and footwear among items reduced most in July as retailers try to counter bad weatherThe UK’s biggest retailers have reported the first monthly fall in shop prices for two years, as stores tried to tempt in customers with big discounts during July’s unseasonably wet weather.The British Retail Consortium (BRC) said its annual shop price inflation rate, compiled with the help of NielsenIQ, had declined to its lowest level of the year, sliding to 7.6% last month from 8.4% in Ju
  
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• UK shop price inflation in first monthly fall for two years amid big discounts

  01-08-2023 01:01
  
  Clothing and footwear among items reduced most in July as retailers try to counter bad weatherThe UK’s biggest retailers have reported the first monthly fall in shop price inflation for two years, as stores tried to tempt in customers with big discounts during July’s unseasonably wet weather.The British Retail Consortium (BRC) said its annual shop price inflation rate, compiled with the help of NielsenIQ, had declined to its lowest level of the year, sliding to 7.6% last month from 8
  
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• UK shop price in first monthly fall for two years amid big discounts

  01-08-2023 01:01
  
  Clothing and footwear among items reduced most in July as retailers try to counter bad weatherThe UK’s biggest retailers have reported the first monthly fall in shop prices for two years, as stores tried to tempt in customers with big discounts during July’s unseasonably wet weather.The British Retail Consortium (BRC) said shop prices were 0.1% lower in July than in June. Meanwhile its annual shop price inflation rate, compiled with the help of NielsenIQ, declined to its lowest level
  
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• UK shop prices dip for first time in two years, industry data shows

  01-08-2023 01:00 via ft.com
  Decline in cost of items in July adds to evidence that high inflation may finally be easing
  
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• UK shop prices dip for first time in 2 years, industry data shows

  01-08-2023 01:00 via ft.com
  Decline in cost of items in July adds to evidence that high inflation may finally be easing
  
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