Retail news

• JD Sports to become sole owner of Polish retailer MIG

  08-08-2023 17:25 via retailgazette.co.uk
  
  JD Sports has bought the remaining 40% stake in Polish retailer Marketing Investment Group (MIG), making it the sole owner.
  The sports fashion retailer originally bought a 60% stake in MIG back in April 2021.
  Since the initial acquisition, it has established the MIG fascia across five countries throughout Central and Eastern Europe, running 18 stores.
  The Polish company continues trading profitably through other complementary fascias, including Sizeer.
  The acquisition, which is subject to compet
  
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• Gordon Brothers eyes rescue bid for Wilko

  08-08-2023 17:18 via retailgazette.co.uk
  
  Private equity giant Gordon Brothers is said to be in talks about a potential rescue bid for stricken retailer Wilko.
  Sources told Sky News that an offer from the Laura Ashley-owner could see the firm inject funding into the retail chain to support a restructuring that would see a significant number of store closures and job losses.
  They said Gordon Brothers had expressed interest in partnering with other financial backers to inject £20m of equity and provide £50m in debt financing.
  
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• TikTok unveils new logistics programme for UK sellers

  08-08-2023 16:31 via retailgazette.co.uk
  
  TikTok has introduced a new logistics programme designed to make it “easier” for merchants to sell their goods on the social media platform’s UK shop.
  Taking a leaf out of Amazon’s book, which also offers fulfilment services to marketplace sellers, the “Fulfilled by TikTok” (FBT) service takes care of the “time-consuming” logistics so that merchants can focus on the other areas of their business.
  Under the programme, TikTok Shop stores, picks, pack
  
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• Iceland slashes price of 200 products as part of summer savings initiative

  08-08-2023 16:25 via retailgazette.co.uk
  
  Iceland has slashed the price of over 200 weekly essentials as part of its summer savings initiative to support families during the holidays.
  The price cuts are one of five schemes under its Summer Holiday Heroes campaign, which looks to make more items accessible during the cost-of-living crisis.
  The supermarket has also launched a summer sale, offering 50% off seasonal favourites including ice lollies, pizza and cocktails.Subscribe to Retail Gazette for free
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• The changing high street: The retailers opening and closing stores

  08-08-2023 14:34 via retailgazette.co.uk
  
  The retail sector seems to be more divided than ever between those backing the high street and those turning away.
  According to the British Retail Consortium, six thousand shops have closed down in the UK in the last five years as a result of crippling business rates, a wave of administrations during the pandemic, and hesitancy around new openings.
  However, not all retailers are looking to downsize as some have embarked on ambitious store opening sprees.
  Retail Gazette takes a look at the retail
  
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• Amazon sellers fear future as retailer increases payment time

  08-08-2023 13:18 via retailgazette.co.uk
  
  Thousands of small businesses on Amazon marketplace have been left worried for their futures after the retailer informed them it would keep hold of sale proceeds for over a week.
  UK and continental Europe marketplace sellers were told Amazon would no longer immediately credit their accounts once an online sale was made.
  Instead, it said they would receive the money a week after the product had been delivered.
  Previously Amazon sellers would typically only wait up to three days to receive their m
  
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• Pets Corner plots store expansion drive after securing new funding

  08-08-2023 12:48 via retailgazette.co.uk
  
  Pets Corner will open 10 new stores before the end of the year after securing an eight-figure funding package from HSBC.
  The premium pet care retailer, which operates 150 outlets in London and the south of England, said the investment will help create up to 320 jobs as it expands across the country.
  The package also includes an acquisition of a small retail chain and supports a four-year capital plan to roll out more retail stores, pet spas and veterinary centres.Subscribe to Retail Gazette for
  
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• Michael Murray on Oxford St: expensive rents and business rates are driving retailers away

  08-08-2023 09:39 via retailgazette.co.uk
  
  Frasers Group chief executive Michael Murray has warned that retailers are avoiding the West End amid sky-high rents and business rates.
  Speaking to the Mail, Murray said : “I can understand why retailers aren’t investing there, it’s not the most profitable location.
  “Oxford Street really needs investment and rents to come down to stimulate brands to increase their presence.
  He added it should “really be a showcase of the best retail the UK has to offer.’Subsc
  
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• Frasers CEO: Sky-high rents and rates are driving retailers away from Oxford Street

  08-08-2023 09:39 via retailgazette.co.uk
  
  Frasers Group chief executive Michael Murray has warned that retailers are avoiding the West End amid sky-high rents and business rates.
  Speaking to the Mail, Murray said: “I can understand why retailers aren’t investing there, it’s not the most profitable location.
  “Oxford Street really needs investment and rents to come down to stimulate brands to increase their presence.
  He added it should “really be a showcase of the best retail the UK has to offer”.Subscr
  
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• Food prices may never fall again following Ukraine invasion, warns chief economist

  08-08-2023 09:18 via retailgazette.co.uk
  
  Food prices may not fall at all, according to the chief economist at the Bank of England.
  The cost of food “could still remain higher than it was” following the invasion of Ukraine Huw Pill said.
  Speaking to MPs, he said that the rate at which food prices are rising was expected to slow to “about 10% by the end of the year”.
  But he warned a return to cheaper food was “something we may not be seeing for a while yet, if in the future at all”.
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• Jigsaw boss: UK is ‘black sheep’ of Europe without tax-free shopping

  08-08-2023 09:04 via retailgazette.co.uk
  
  The boss of Jigsaw Beth Butterwick has said Britain is now the “black sheep” of Europe by not offering tax-free shopping incentives.
  Speaking to the Times the chief executive of the high street fashion retailer said London was being left behind as tourists take to Paris, Madrid and Milan to shop instead.
  “From left-wing governments in Spain to Conservatives in Italy, European countries have put competitive financial incentives in place to lure international shoppers. The UK is
  
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• Mike Ashley’s Frasers raises stake in Asos once again

  08-08-2023 08:44 via retailgazette.co.uk
  
  Retail giant Frasers Group has upped it stake in Asos once again to nearly 17%.
  This means Mike Ashley’s empire is now the online fashion retailer‘s third largest shareholder behind Anders Povlsen, the owner of Denmark’s Bestseller chain and Camelot Capital Partners.
  This comes after Frasers Group upped its stake in Boohoo Group last month for the second time over a matter of days.
  Frasers Group has recently been on an acquisition spree, purchasing “strategic stakes&
  
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• PrettyLittleThing co-founder snaps up 3% stake in Boohoo

  08-08-2023 08:30 via retailgazette.co.uk
  
  The co-founder of PrettyLittleThing Umar Kamani has snapped up a 3% stake in Boohoo, according to a new filing with the London Stock Exchange.
  His move comes despite a recent dip in Boohoo’s pre-tax profits, from £98.7m to £75.1m.
  Umar Kamani revealed he would be stepping down as chief executive of Boohoo-owned PrettyLittleThing back in April, after 12 years at the helm.
  Kamani oversaw the online fashion brand’s explosive growth from a website selling accessorie
  
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• Small firms fear going bust as Amazon extends wait time for sale proceeds

  08-08-2023 07:00
  
  Marketplace sellers in UK and rest of Europe say having to wait over a week means they will struggle to pay staff and loansAmazon has told thousands of marketplace sellers in the UK and continental Europe it will hold on to sale proceeds for more than a week in a move that small businesses say could force them to go bust.The company has written to sellers to inform them it will no longer credit their accounts as soon as a sale is made online but will do so a week after an item has been delivered
  
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• Waitrose introduces dedicated areas for low and alcohol free drinks

  08-08-2023 02:00 via theretailbulletin.com
  
  Due to fast growth in sales of low-alcohol and alcohol-free drinks, Waitrose is working with Diageo to introduce dedicated areas in 253 shops to make it... View Article
  
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• The Perfume Shop opens improved experiential store in Manchester

  08-08-2023 02:00 via theretailbulletin.com
  
  The Perfume Shop celebrated scent-sational new addition of another new and improved experiential store at the The Arndale Centre, Manchester. The iconic retailer revealed a new... View Article
  
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• Tesco’s move to highlight marked down food bargains expands to 300 stores

  08-08-2023 02:00 via theretailbulletin.com
  
  Tesco is rolling out signs that help customers find marked-down yellow sticker food items to 300 more stores. The new signage, which states ‘reduced in price,... View Article
  
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• Sustainability still matters to shoppers – despite economic pressures [GfK an NIQ company]

  08-08-2023 02:00 via theretailbulletin.com
  
  By Trevor Godman and Sam Tuck, GfK New research from GFK has underlined the importance of consumers’ desire to protect the environment and its growing influence on... View Article
  
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• Sustainability still matters to shoppers – despite economic pressures

  08-08-2023 02:00 via theretailbulletin.com
  
  By Trevor Godman and Sam Tuck, GfK New research from GFK has underlined the importance of consumers’ desire to protect the environment and its growing influence on... View Article
  
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• Superdry secures new financing to help with turnaround plan

  08-08-2023 02:00 via theretailbulletin.com
  
  The Superdry fashion brand has secured a secondary lending facility to help accelerate its turnaround plan. The company has agreed a facility of up to £25... View Article
  
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• Reflections: Retail, celebrations, high-heels and reuniting with the team

  08-08-2023 02:00 via theretailbulletin.com
  
  Remember when we all got a bit fed up of talking about ‘the new normal’? It feels like a lifetime ago! As I sit here in... View Article
  
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• Q&A: Magnus Larsson, CEO, Pricer

  08-08-2023 02:00 via theretailbulletin.com
  
  Pricer is a leading supplier of shelf edge automation and communication solutions based on electronic shelf labels (ESL) that help retailers digitalise their stores in order... View Article
  
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• Pawnbrokers H&T profit rise and store expansion

  08-08-2023 02:00 via theretailbulletin.com
  
  H&T, the UK’s largest pawnbroker, reported an impressive 31% rise in pre-tax profit to £8.8 million, as it seeks to expand its presence to capitalise on... View Article
  
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• Neptune appoints Will Kernan as chairman

  08-08-2023 02:00 via theretailbulletin.com
  
  Neptune has appointed former River Island chief executive Will Kernan as its chairman as it looks ahead to its next stage of growth. Kernan headed up... View Article
  
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• Lush and Mattel collab on limited-edition Barbie™ collection

  08-08-2023 02:00 via theretailbulletin.com
  
  In a collaboration that embodies empowerment, self-care, and unapologetic individuality, Lush Cosmetics and Mattel are proud to introduce the limited-edition Barbie™ x Lush Collection. Marking a... View Article
  
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• How to overcome the labour shortage in retail in 2023?

  08-08-2023 02:00 via theretailbulletin.com
  
  Jackson Versitano, Regional Manager, UK & RoEMEA for Lightspeed If you’re in retail, you’ve likely struggled with labour shortages in your business. Some of your ex-employees... View Article
  
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• Gordon Brothers weighs rescue bid for Wilko

  08-08-2023 02:00 via theretailbulletin.com
  
  Discount retailer Wilko is in talks with the firm behind Laura Ashley to rescue the brand as it teeters on the brink of collapse. Gordon Brothers,... View Article
  
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• Frasers Group ups Asos stake to almost 17%

  08-08-2023 02:00 via theretailbulletin.com
  
  Mike Ashley-owned Frasers Group has increased its stake in online retailer Asos once again. The parent company of Sports Direct, House of Fraser and Flannels, has... View Article
  
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• Comment: crossroads for Oxford Street

  08-08-2023 02:00 via theretailbulletin.com
  
  Twenty-five years ago to the week, US-based Borders chose London’s Oxford Street for its first UK superstore that covered an impressive 40,000 square feet across four... View Article
  
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• Wet weather damps UK consumer spending

  08-08-2023 01:02
  Retail sales growth lags behind inflation rate with a rise of 1.5% in July
  
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• UK retailers forced to slash prices after July washout and interest rate rise

  08-08-2023 01:01
  
  British Retail Consortium and KPMG report shows steep annual drop in volume of sales and a rise in promotional offersBritain’s hard-pressed retailers are being forced to slash their prices to drum up business after dismal summer weather and ever-higher interest rates combined to depress consumer spending in July.The monthly health check of high street and online spending patterns from the British Retail Consortium and the consultancy KPMG reported a steep annual drop in the volume of sales
  
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