Retail news

• Clintons looks to close a fifth of its stores to avoid going bust

  04-08-2023 19:16 via retailgazette.co.uk
  
  Clintons is looking to close around a fifth of its stores in order to stave off insolvency.
  The card retailer has brought in restructuring advisers to work on a debt-for-equity swap as it faces “acute financial distress”.
  Part of the plans could see it close 38 stores. This is on top of the 156 shops it closed back in December 2019 as part of a pre-pack administration, when its previous owner, the Weiss family that owns US giant American Greetings, snapped it back up.Subscribe to Ret
  
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• What went wrong at Wilko?

  04-08-2023 16:38
  
  Analysts partly blame too many large stores selling low-profit goods on dearerhigh street locationsWhen Woolworths went bust 14 years ago, many of its former stores were filled by cut-price chain Wilko, offering shoppers many of the same products. But now it too has warned it is on the brink of collapse, raising the spectre of further gaps on the UK high street.Wilko’s cocktail of pick ‘n‘ mix sweets, DIY supplies, cheap bathroom products and handy homewares may have once drawn
  
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• Wet weather sends UK sales of roasts and custard soaring

  04-08-2023 16:19
  
  Stores saw unseasonal spending pattern as rain-soaked July shoppers plumped for winter comfort foodSummer is traditionally the time of year for barbecuing, eating ice-cream and drinking sundowners but after a rain-soaked July, weary Britons are taking solace in wintry comfort food such as roast dinners, soup, rice pudding and custard.For campers and festivalgoers, the fact that the UK had one of the wettest Julys on record is not news. Indeed, in Northern Ireland and parts of England such as Gre
  
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• Aldi trials sensory-friendly shopping hours

  04-08-2023 15:51 via retailgazette.co.uk
  
  Aldi has announced plans to trial sensory-friendly shopping hours across some stores.
  The hours will be tested at the grocer from next week until the end of October, across nearly 100 sites throughout Derbyshire, Nottinghamshire, Lincolnshire and Yorkshire.
  The quieter supermarket experience will run every Tuesday from 6pm to 8.30pm.
  Changes for customers will include stopping tannoy announcements, quieter till scan sounds and signposting the dedicated times to all shoppers.
  If the trial proves
  
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• Winter comfort food binge brings solace to UK’s rain-soaked summer shoppers

  04-08-2023 15:00
  
  Shops race to catch up as unseasonal spending pattern puts roast dinners and rice puddings on the menuSummer is traditionally the time of year for barbecuing, eating ice-cream and drinking sundowners but after a rain-soaked July, weary Britons are taking solace in wintry comfort food such as roast dinners, soup, rice pudding and custard.For campers and festivalgoers, the fact that the UK had one of the wettest Julys on record is not news. Indeed, in Northern Ireland and parts of England such as
  
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• Card retailer Clintons ‘looking to close a fifth of stores’ to avoid going bust

  04-08-2023 14:47
  
  The 179-store greetings card chain has appointed advisers to help it draw up plans to prevent insolvencyThe greetings card chain Clintons is reportedly looking to close about a fifth of its stores, as it tries to avoid going bust again.The retailer is understood to have appointed restructuring advisers from business advisory firm FRP to help it draw up plans to prevent insolvency. Continue reading...
  
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• Sex toys, rugs and Barbie dolls: does posthumous use of artists’ work risk cheapening their legacy?

  04-08-2023 13:00
  
  Brands love to use the work of late, great artists just as much as late, great artists’ estates like to cash in. But that hasn’t stopped a slew of Succession-size squabblesAnyone unfamiliar with the machinations of the art world could be forgiven for thinking that great art simply finds its way to the light of day. In reality, nothing could be further from the truth – particularly when it comes to the art of the dead. How we experience an artist’s work in the present is i
  
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• Sex toys, rugs and Barbie dolls: does posthumous use of artists’ work risk cheapening their legacies?

  04-08-2023 13:00
  
  Brands love to use the work of late, great artists just as much as late, great artists’ estates like to cash in. But that hasn’t stopped a slew of Succession-size squabblesAnyone unfamiliar with the machinations of the art world could be forgiven for thinking that great art simply finds its way to the light of day. In reality, nothing could be further from the truth – particularly when it comes to the art of the dead. How we experience an artist’s work in the present is i
  
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• Studio Retail staff fear job losses over possible merger

  04-08-2023 10:59 via retailgazette.co.uk
  
  Concerns over redundancies at Frasers Group-owned Studio Retail have been triggered by a potential merger of the company with Missguided and I Saw It First.
  The fears are thought to have arisen from a letter to workers from the company’s chief executive Paul Kendrick.
  In the letter, Kendrick is understood to have explained Frasers Group had plans to merge the business with the two other companies.
  It went on to say the change would result in “significant cost efficiencies” and
  
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• Frasers plan to merge Studio Retail and Missguided sparks job fears

  04-08-2023 10:59 via retailgazette.co.uk
  
  Frasers Group is planning to merge Studio Retail with etail stablemates Missguided and I Saw It First, which has sparked redundancy fears at the firm.
  Studio Retail chief executive Paul Kendrick sent a letter to staff outlining Frasers Group’s plans to merge the businesses, which he said would result in “significant cost efficiencies”.
  He said the retailer would “benefit from the longer-term group investments in technology by working on a shared platform”.
  According
  
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• M&Co owner acquires plus size retailer Evans

  04-08-2023 10:35 via retailgazette.co.uk
  
  The owner of M&Co and Yours Clothing AK Retail Holdings has acquired plus size clothing retailer Evans for an undisclosed sum as the company looks to expand its brand portfolio.
  The acquisition includes the brand name along with the intellectual property and stock with AK saying the move perfectly aligns with its mission to cater to a diverse range of customers.
  Founder Andrew Killingsworth said: “We are absolutely thrilled to acquire Evans and build upon this legacy, taking the b
  
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• Retail footfall sees ‘modest growth’ in July despite rainy start to summer

  04-08-2023 08:58 via retailgazette.co.uk
  
  Footfall across the UK has risen 1.8% year on year in July, up from a drop of 1.9% in June, the latest data by the British Retail Consortium (BRC) and Sensormatic IQ shows.
  High streets saw the highest increase between 2  and 29 July, with a year on year increase of 1.6% compared with 0.6% in June, closely followed by retail parks which saw a 1.4% boost in footfall in July compared with a 2.6% dip in June.
  Shopping centres saw a slight 0.2% increase year on year although this is compared wi
  
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• Apple revenue falls for third straight quarter as iPhone sales drop

  04-08-2023 08:50 via retailgazette.co.uk
  Apple has posted its third consecutive quarter of declining revenues, the tech giant’s most prolonged sales slump since 2016.
  The company’s sales for the quarter slipped 1.4% to $81.8bn although it made a profit of $19.9bn, higher than analyst forecasts.
  However, iPhone sales slightly missed analyst estimates, coming in at $39.67bn versus $39.79bn expected. About half of Apple’s overall revenue comes from its iPhone segment.
  But the slump was made up for by better-than-expected
  
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• Amazon beats earnings expectations as sales and profits soar

  04-08-2023 08:35 via retailgazette.co.uk
  
  Amazon unveiled better than expected sales in the latest quarter as Prime members flocked to its website to snap up bargains.
  The boost to revenue, along with cost-cutting that included large-scale lay-offs earlier this year, also boosted Amazon’s profit margins and contributed to after-tax earnings that were nearly double expectations.
  The tech giant said its Prime Day sales event over July 11-12 was its largest ever, saving customers £2bn on deals.
  The business posted sales of $134
  
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• True Religion to enter home category

  04-08-2023 02:00 via theretailbulletin.com
  
  Fashion and sportswear brand True Religion has announced plans to enter the homewares market. The company has partnered with Envogue to license True Religion-branded products for... View Article
  
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• Tesco to offer right to request flexible working for any colleague

  04-08-2023 02:00 via theretailbulletin.com
  
  Tesco has become the first major UK supermarket to offer staff flexible working rights, regardless of how long they have worked for the business. The retailer... View Article
  
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• Pentland Brands to invest in skills, innovation and a new London hub

  04-08-2023 02:00 via theretailbulletin.com
  
  Pentland Brands is to establish a new central London hub in Farringdon as part of plans to accelerate growth. The owner of outdoor and lifestyle brands... View Article
  
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• Mango joins line-up at Centre:mk

  04-08-2023 02:00 via theretailbulletin.com
  
  Fashion retailer Mango has opened a new flagship store at Centre:mk in Milton Keynes. With a selling space of over 4,693 square feet, the shop on... View Article
  
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• M&S Newcastle store to undergo multi-million pound transformation

  04-08-2023 02:00 via theretailbulletin.com
  
  Marks & Spencer is to revamp a flagship store in Newcastle city centre as part of a £13 million investment in its North East store estate. The... View Article
  
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• Lululemon creates Mental Wellbeing Global Advisory Board

  04-08-2023 02:00 via theretailbulletin.com
  
  Lululemon has created a Mental Wellbeing Global Advisory Board that is comprised of 11 leaders representing the brand’s key global markets in the wellbeing space. The... View Article
  
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• Liberating creativity: LEGO® Introduces Play Unstoppable Creativity Studios

  04-08-2023 02:00 via theretailbulletin.com
  
  In a move set to empower and embolden young minds, the LEGO Group is gearing up to launch an engaging series of workshops under the banner... View Article
  
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• July sees month-on-month footfall decline

  04-08-2023 02:00 via theretailbulletin.com
  
  New figures have shown that footfall across UK retail destinations declined by 0.3% over the month from June to July as the country was hit by... View Article
  
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• July sees month-month footfall decline

  04-08-2023 02:00 via theretailbulletin.com
  
  New figures have shown that footfall across UK retail destinations declined by 0.3% over the month from June to July as the country was hit by... View Article
  
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