Retail news

• Superdry secures £25m funding from Hilco to power turnaround plan

  07-08-2023 18:01 via retailgazette.co.uk
  
  Superdry has secured up to £25m in funding from restructuring specialist Hilco Capital to help power its turnaround plan.
  The fashion retailer said on Monday it had agreed a secondary facility on top its existing £80m asset-backed loan with Bantry Bay Capital.
  The agreement with Hilco is for a 12-month term with the option to extend, and is at an interest rate of 10.5% plus the Bank of England base rate on the drawn element.Subscribe to Retail Gazette for free
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• Tesco expands ‘reduced in price, just as nice’ signs to 300 stores

  07-08-2023 17:39 via retailgazette.co.uk
  
  Signs directing shoppers to Tesco’s reduced price products have been rolled out to 300 more stores.
  The move, designed to help shoppers find discounted products more easily and reduce waste, could be expanded to even more sites, according to the grocery giant.
  The discounted supermarket range features products, including fresh produce nearing its expiry date and end of season items.Subscribe to Retail Gazette for free
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• Homewares retailer Neptune hires ex-River Island CEO as chairman

  07-08-2023 14:24 via retailgazette.co.uk
  
  Household goods retailer Neptune has hired former River Island CEO Will Kernan as its new chairman.
  The news follows the appointment of ex-Soho Home MD Aalish Yorke-Long as the furniture company’s first chief executive last year.
  Kernan stepped down from his role of River Island chief executive in November 2022, in pursuit of “personal projects”.
  Prior to joining the clothes company, Kernan served as CEO of Wiggle Chain Reaction Group and The White Company.
  He already chairs lu
  
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• Co-op under fire as secret footage shows ‘deformed and dying’ chickens at supplier farms

  07-08-2023 09:55 via retailgazette.co.uk
  
  Secret film footage captured by activists has shown chickens “collapsing in agony, deformed and dying” at farms ­supplying Co-op.
  The footage shown to the Independent captured birds panting from heat and stress, while dirty floors left the birds lying in their own waste and their eyes stinging, it’s claimed.
  Charity Open Cages filmed from August to November last year at three East Midlands farms supplying the supermarket and said their findings revealed chickens “in a
  
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• Card Factory records positive start to the year as it upgrades profit outlook

  07-08-2023 09:29 via retailgazette.co.uk
  
  Card Factory has said it expects its full-year results to be “materially ahead” of its previous expectations despite an “uncertain” backdrop as it upgrades its profit outlook.
  In a trading update, the gift card retailer said the positive start to the financial year had continued, with trading for the six months to 31 July 2023 ahead of the board’s expectations.
  “Yet another upgrade underscores our confidence that there is much more to come with the business no
  
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• Ocado ramps up same-day delivery options as turnaround continues

  07-08-2023 09:03 via retailgazette.co.uk
  
  Ocado is planning on expanding its same-day delivery options to create more slots for customers as it faces growing pressure from part-owner M&S to start showing signs of a turnaround.
  Currently, the online grocer does have same-day delivery options in most locations across the UK but availability is limited to a few thousand each week.
  It is believed that its focus will be on getting shoppers to order larger deliveries for same-day slots, rather than just last-minute ingredients which are t
  
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• AllSaints posts record sales and profits driven by ‘intense focus on product’

  07-08-2023 08:34 via retailgazette.co.uk
  
  AllSaints has posted its best ever annual sales and profits for the year-ended 28 January 2023 as its focus on product paid off.
  Sales at the fashion retailer grew by 36% to £457m for the period as profits swelled 50% to £58.6m.
  Chief executive Peter Wood said trading had been boosted by customers cutting back on other discretionary items to be able to afford its pricier products.
  “No one is immune from the cost of living crisis, but if you love fashion then maybe there are som
  
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• The customer is always right: New data reveals retailers are failing customers with post-purchase experiences

  07-08-2023 02:00 via theretailbulletin.com
  
  By Carmen Carey, CEO of Sorted Recent customer analysis reveals that customers are diverting their attention away from physical stores and towards online alternatives. This is... View Article
  
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• Mango opens first store in Texas

  07-08-2023 02:00 via theretailbulletin.com
  
  Mango is continuing its expansion in the US with the opening of its first store in Texas. Situated in the Memorial City Mall in West Houston,... View Article
  
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• Lighting up the commerce landscape: Lightspeed unveils strong Q1 results

  07-08-2023 02:00 via theretailbulletin.com
  
  Lightspeed Commerce  has unveiled its robust Q1 2024 financial performance. Total revenue surged to $209.1 million, marking a substantial 20% YoY growth, surpassing the projected $195... View Article
  
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• Lidl brews up change to make own-label tea bags fully compostable

  07-08-2023 02:00 via theretailbulletin.com
  
  Lidl is to make all of its own-brand tea bags fully compostable as it looks to help customers make more sustainable shopping choices. The move means... View Article
  
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• Evans acquired by M&Co owner AK Retail

  07-08-2023 02:00 via theretailbulletin.com
  
  City Chic Collective has sold plus-size retailer Evans to M&Co owner AK Retail. The £8 million deal also includes all inventory in the Australian fashion group’s... View Article
  
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• Dual branded Costcutter Bargain Booze store delivers 48% sales surge

  07-08-2023 02:00 via theretailbulletin.com
  
  Bestway Retail’s Bolton dual-branded store has achieved a remarkable 48%+ sales surge since in March this year. Bestway Retail launched its ‘store within a store’ model... View Article
  
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• Cornish Bakery continues rapid expansion

  07-08-2023 02:00 via theretailbulletin.com
  
  Independent bakery chain Cornish Bakery has continued its rapid expansion, opening a large new bakery in the capital city of Cornwall. The news comes as the... View Article
  
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• Clintons considers closing 38 stores

  07-08-2023 02:00 via theretailbulletin.com
  
  Greeting cards retailer Clintons is planning to close around a fifth of its stores to help keep it afloat. It is also understood that the company... View Article
  
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• Card Factory trading “materially ahead” of expectations

  07-08-2023 02:00 via theretailbulletin.com
  
  Greeting cards retailer Card Factory has reported strong trading in the first six months of its financial year despite an uncertain microeconomic backdrop. In a release,... View Article
  
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• AllSaints report record revenues

  07-08-2023 02:00 via theretailbulletin.com
  
  British fashion label AllSaints has marked a significant financial milestone with a “historic” performance for the most recent fiscal period, propelled by a remarkable 25% surge... View Article
  
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