Retail news

• US housebuilders/Home Depot: property paralysis creates haves and have nots

  15-08-2023 20:29 via ft.com
  Shares in the five leading homebuilders touch new highs while DIY retailers report sales decline
  
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• Asda launches new food-to-go trial to drive shoppers to stores

  15-08-2023 19:54 via retailgazette.co.uk
  
  Asda has unveiled a new food-to-go trial as part of its plan to become the UK’s number two supermarket.
  The Asda Food Hub will first be trialled throughout the grocer’s Leicester and Dagenham stores, and could be rolled out to further UK supermarkets if it performs well.
  The concept will include a concession at the front of store serving coffee as well as other grab-and-go products.
  Food options will change throughout the day, serving breakfast, lunch, afternoon snacks and meal deal
  
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• Discount retailers will see steady growth despite Wilko collapse

  15-08-2023 18:02 via retailgazette.co.uk
  
  The UK value, discount, variety stores and general merchandise retail channel is set to grow by 5% per year as more shoppers turn to value-focused retailers amid the cost-of-living crisis.
  GlobalData reports that it will take the channel’s value to £59.4bn in 2027.
  The data and analytics company said the recent collapse of Wilko should be seen as an outlier in the sector, while consumers will continue to shop ‘frequently and heavily’.Subscribe to Retail Gazette for free
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• Asda sales soar almost 10% as shoppers snap up budget range

  15-08-2023 17:43 via retailgazette.co.uk
  
  Asda like-for-like sales shot up 9.6% in the second quarter as shoppers snapped up its low-priced Just Essentials range.
  Own brand sales surged 14.7% year on year in the quarter to 30 June. Sales of Just Essentials, Asda’s value range launched last year to help families shop on the tightest budgets, rocketed 87% year on year.
  The retailer said it is now the “number one value range” with 20.2% market share and that more than 22m customers have bought Just Essentials items s
  
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• Britain’s ‘house of food’ sits on shaky foundations. To fix it, curb the big supermarkets | Andrew Simms

  15-08-2023 17:33
  
  As major retailers rake in huge profits, they are slashing jobs, squeezing suppliers and hollowing out our food industrySupermarkets can seem as mundane as public utilities, as dull as plumbing – until something goes wrong. If the plumbing goes wrong, the ceiling collapses. But when the supermarket goes wrong, you can’t put food on the table.The naked vulnerability of the way we produce and sell our food is revealed whenever there is a shock to the system – whether that be fuel
  
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• Harvey Nichols boss resigns after tensions over strategy with owner

  15-08-2023 17:29
  
  Manju Malhotra, who joined retailer 25 years ago, is understood to have disagreed over pace of changeThe boss of Harvey Nichols has quit the retailer she first joined 25 years ago after tensions over its strategy and a member of the owning family will take the reins.Manju Malhotra started at the Knightsbridge store in London in 1998 as a newly qualified accountant and worked her way up through the ranks before becoming chief executive in January 2020, just before the pandemic forced stores to sh
  
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• In pictures: M&S opens Liverpool ONE store

  15-08-2023 15:27 via retailgazette.co.uk
  
  Marks & Spencer has opened the doors to its newly-relocated 70,000 sq ft Liverpool store after relocating its Church Street location, creating over 70 new jobs.
  The two floor store on South John Street is the former Debenhams retail unit which closed in May 2021 after entering administration in December 2020. It’s about 70% smaller than the retail giant’s 250,000 sq ft of space it traded from in Church Street.M&S Liverpool ONE reflects the department store’s signif
  
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• Demand for holidaywear and food lifts M&S profit expectations

  15-08-2023 15:23
  
  Retailer forecasts ‘significant improvement’ in interim results despite economic uncertaintiesThe high street retailer Marks & Spencer has upgraded its profits forecasts after a rise in demand for holidaywear as people prepared for the beach this summer, and a jump in food sales.M&S said it anticipates increased profits for the current financial year, unexpectedly upgrading its outlook after growing its market share in food, clothing and homeware. Continue reading...
  
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• Amazon rolls out AI-generated product review summaries

  15-08-2023 15:11 via retailgazette.co.uk
  Amazon has introduced a new product review feature that uses generative artificial intelligence (GenAI) to provide a snapshot of what customers tend to think of items without having to scroll through a host of individual reviews.
  The online giant hailed the move as its latest review innovation, which is now available to some shoppers in the US across a selection of products.
  Director of community shopping, Vaughn Schermerhorn, said Amazon may make it available to additional customers and categor
  
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• Sook unveils first international retail space at Mall of Africa

  15-08-2023 14:38 via retailgazette.co.uk
  
  Sook has unveiled a partnership with Mall of Africa (MoA), which will allow brands to lease the company’s space within the largest South African shopping centre.
  The move marks the Sook’s first venture into international retail space, with a lease secured for a minimum of five years.
  Sook head of site acquisition Tom Price said: “Our collaboration with MoA marks a significant step forward in reinvigorating the global retail landscape. This agreement isn’t just about space
  
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• Dunelm teams up with Airtasker to offer stress-free home solutions and create jobs

  15-08-2023 14:23 via retailgazette.co.uk
  
  Dunelm has collaborated with local services marketplace Airtasker to provide a new, community-based solution for customers in need of specialists, from constructing flat pack furniture to putting up a new mirror.
  The UK’s largest homewares retailer said its new partnership will take any unnecessary stress away from shoppers while also creating “attractive new and flexible employment opportunities for Taskers in the local communities of Dunelm stores”.
  Following a successful tri
  
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• M&S edges closer to FTSE 100 re-entry after lifting annual profit forecast

  15-08-2023 13:48 via ft.com
  UK retailer reports higher sales in clothing and food businesses
  
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• Harrods hails strong sales and profits as it ‘outperforms the wider market’

  15-08-2023 13:34 via retailgazette.co.uk
  
  Harrods has posted rising profits and revenue for the year to 28 January 2023 as its Knightsbridge flagship store returned to normal trading post-pandemic.
  Turnover atthe luxury department store retailer soared year on year from £581.9m to £831.6m, while gross transaction value rose 47% to £2.3bn.
  Operating profit almost tripled from £55.5m to £158.4m in the year to January 28, 2023 as profit after tax rose from £41.7m to £433.3m.
  Despite the positive fi
  
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• Some branded groceries prices more than double over last year

  15-08-2023 12:37 via retailgazette.co.uk
  
  Some branded food products have more than doubled in price over the past year, according to research by Which?
  The firm monitored the price of nearly 26,000 groceries across Asda, Aldi, Morrisons, Lidl, Ocado, Sainsbury’s, Waitrose and Tesco and found that a box of six Mr Kipling’s Chocolate Slices at Tesco had risen the most.
  The cakes were priced at £1.16 on average during the three months to the end of July last year but soared to £2.66 during the same period in 2023.
  
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• Harvey Nichols boss resigns after strategy dispute with owner

  15-08-2023 12:12
  
  Manju Malhotra, who joined retailer 25 years ago, is understood to have disagreed over pace of changeThe boss of Harvey Nichols has quit the retailer she first joined 25 years ago after tensions over its strategy and a member of the upmarket department store’s owning family will take the reins.Manju Malhotra started at the Knightsbridge store in London in 1998 as a newly qualified accountant and worked her way up through the ranks before becoming chief executive in January 2020, just befor
  
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• M&S upgrades profit outlook as market share in food and clothing grows

  15-08-2023 11:34
  
  Retailer expects ‘significant improvement’ in interim results despite economic uncertaintiesMarks & Spencer has said it expects increased profits for the current financial year, unexpectedly upgrading its outlook after growing its market share in food, clothing and homeware.In an unscheduled update to the City, the high street retailer told investors its interim results, due to be published in November, would show “a significant improvement” against previous expectati
  
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• Food price inflation in UK falls for fifth month in a row

  15-08-2023 10:47
  
  Reduction is second sharp drop in a row as milk and sunflower oil get price cuts while eggs, sweets and chips increase againFood price inflation in the UK eased to 12.7% last month, the second sharp drop in a row, as the price of milk fell back but eggs, sweets and oven chips continued to increase.Price rises slowed for the fifth month in a row in the four weeks to August 6, market research group Kantar reported on Tuesday. Continue reading...
  
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• Pandora raises guidance following robust Q2 sales growth

  15-08-2023 10:26 via retailgazette.co.uk
  
  Pandora has raised its full-year revenue outlook as it reported robust growth in the second quarter of the year.
  In the April to June period, the Danish jewellery giant’s sales jumped 5%, driven by 2% growth in like-for-like sales and “network expansion” of 4%, despite economic uncertainties.
  As a result, the business now expects organic sales growth between 2% and 5%, against an earlier range of between -2% and 3%.
  Its current trading remains solid as customers flock to store
  
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• Reinventing the phone shop: Dialling up the experience

  15-08-2023 09:30 via retailgazette.co.uk
  
  Just a decade ago, high streets and malls were awash with mobile phone shops with a seemingly endless number of places to peruse the latest Blackberry or Samsung Galaxy.
  Those stores are far fewer in numbers. Phones4U collapsed into administration in 2014 and Currys-owned Carphone Warehouse closed all its standalone stores in 2020.
  In fact, the number of high street phone shops has plummeted 38% over the past five years, dropping from just over 10,000 in 2017 to just over 6,000 in 2023, data fro
  
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• L’Occitane owner mulls taking the business private

  15-08-2023 09:28 via retailgazette.co.uk
  
  The billionaire owner of L’Occitane is contemplating taking the cosmetics business private after more than 10 years since it floated on the Hong Kong stock exchange.
  Reinold Geiger, who controls three-quarters of the group, is said to be in advanced talks of a take-private deal.
  The cosmetics group was founded by Olivier Baussan in 1976 and operates about 2,774 stores in 90 countries. It also owns luxury skincare brand Elemis.
  Geiger was the chief executive of L’Occitane for 25 years
  
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• M&S lifts annual profit forecast

  15-08-2023 09:01 via ft.com
  UK retailer reports higher sales in clothing and food businesses
  
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• M&S raises profit outlook as sales surge

  15-08-2023 08:58 via retailgazette.co.uk
  
  M&S has raised its profit outlook for the year as it continues to see market share growth in both the clothing and home and food businesses.
  The retailer said it now expects to deliver a profit growth in the year to 1 April 2024, having previously forecasted a small decline.
  Like-for-like food sales jumped 11% in the 19 weeks to 12 August thanks to the retailer’s increased investment into quality and value.Subscribe to Retail Gazette for free
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• Harvey Nichols CEO Manju Malhotra quits

  15-08-2023 08:33 via retailgazette.co.uk
  
  Harvey Nichols boss Manju Malhotra has resigned from her post following a dispute with the luxury retailer’s Chinese owners.
  Malhotra was promoted to chief executive in January 2020 and will leave the business at the end of the year.
  Malhotra will be replaced by Pearson Poon, the son of Sir Dickson Poon who has owned Harvey Nichols through his company Dickson Concepts since 1991.
  Pearson Poon, who is an executive director, will be made vice chairman until a permanent replacement is found.S
  
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• WiHTL and Diversity in Retail to stage annual Inclusion Summit with June Sarpong

  15-08-2023 02:00 via theretailbulletin.com
  
  WiHTL and Diversity in Retail, the Collaboration Communities devoted to increasing diversity and inclusion in the Hospitality, Travel and Leisure (HTL) and Retail industries, have announced... View Article
  
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• UK launches one-stop-shop to help businesses become more sustainable

  15-08-2023 02:00 via theretailbulletin.com
  
  The Department of Energy Security and Net Zero has launched a new UK Business Climate Hub that will help small and medium-sized businesses to access advice... View Article
  
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• Tourist spending gap widens in London despite rise in overseas visitor numbers

  15-08-2023 02:00 via theretailbulletin.com
  
  New figures from New West End Company have shown that the tourist spending gap has widened in London from pre-pandemic levels despite a rise in overseas... View Article
  
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• Telefunken acquired by Gordon Brothers

  15-08-2023 02:00 via theretailbulletin.com
  
  Advisory and investment firm Gordon Brothers has acquired the Telefunken global consumer electronics brand. Based in Frankfurt, Telefunken offers a diverse portfolio of products spanning video,... View Article
  
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• Sandersons celebrates eighth anniversary as it launches new brands

  15-08-2023 02:00 via theretailbulletin.com
  
  Independent department store chain Sandersons has welcomed two new premium fashion labels to its womenswear line-up. Marella and Weekend Max Mara can now be found at... View Article
  
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• Marks & Spencer raises full year profit outlook

  15-08-2023 02:00 via theretailbulletin.com
  
  Marks & Spencer has raised its full year profit outlook after growing its market share in its clothing & home and food businesses.  In a trading... View Article
  
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• Interview: Tom Owen, MD of Better Decisions Group

  15-08-2023 02:00 via theretailbulletin.com
  
  We’ve had the privilege of interviewing Tom Owen who has been selected as a finalist for the prestigious People in Retail Awards. Please talk us through... View Article
  
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• Domino’s Pizza Group announces board change

  15-08-2023 02:00 via theretailbulletin.com
  
  Domino’s Pizza Group has announced that Usman Nabi has stepped down as a director of the company. Nabi has been a board member since November 2019... View Article
  
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• 48% of UK consumers won’t trust a brand that uses AI

  15-08-2023 02:00 via theretailbulletin.com
  
  Leeds based SEO agency It Works Media, surveyed 1,000 consumers on their opinion towards brands using AI to write content for their websites. We learnt almost... View Article
  
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