Retail news

• Wilko: Who’s in the running to buy the collapsed retailer?

  29-08-2023 20:50 via retailgazette.co.uk
  
  The future of Wilko remains in limbo this week as administrators race to secure a rescue deal for the stricken retailer.
  The value retail chain collapsed into administration earlier this month – putting 12,500 jobs on the line – after teetering on the brink of collapse for several months.
  Although adminstrator PwC had revealed last week that Wilko stores would close and staff would be made redundant as there was “no prospect that the majority of the business will be saved&rdquo
  
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• Food price inflation drops to lowest point in a year, says BRC

  29-08-2023 20:25 via retailgazette.co.uk
  
  Food inflation across the UK has plunged to its lowest level in a year, the BRC-NielsenIQ Shop Price Index reports.
  Figures fell to 11.5% in August from 13.4% the month before.
  The Office for National Statistics also found the annual rise in average total pay was only up by 8.2% from April to June, meaning food prices continue to rise quicker than wages.
  The British Retail Consortium (BRC) found price rises across shops had dropped to their lowest point since October 2022, but continue to signif
  
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• Wilko bidder M2 criticises administrators PwC

  29-08-2023 19:43
  Private equity firm questions fairness of offer process as discount chain’s future remains undecided
  
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• Marks & Spencer on track to return to FTSE 100 as pre-tax profits soar

  29-08-2023 18:36
  
  Retailer promises to restart dividend payments as strong sales prompt share price surgeMarks & Spencer is on track to re-enter the UK’s list of top-rated companies for the first time in four years amid hopes of a permanent revival at the high street stalwart.M&S fell out of the FTSE 100 list of the UK’s most valuable stockmarket companies in 2019 as sales and profits slid amid heavy competition from rivals such as Primark and the major supermarkets. Continue reading...
  
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• Ikea pilots ‘car boot sale’ concept in sustainability push

  29-08-2023 13:49 via retailgazette.co.uk
  
  Ikea is piloting car boot sale-style events to encourage customers to buy pre-loved home furnishings as part of its circular economy push.
  The initiative is launching at its Milton Keynes and Cardiff stores this weekend, running from 9am to 12pm.
  With the free to attend events, the Swedish furniture giant is encouraging the public to pass on their used goods as well as shop more second-hand.Subscribe to Retail Gazette for free
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• Wilko closures and job losses on hold as administrator considers rescue bids

  29-08-2023 13:25
  
  Restructuring specialist M2 makes potential offer alongside HMV owner Doug PutmanPlans for redundancies and store closures at Wilko have put been on hold as administrators consider two potential last-ditch rescue bids that emerged over the bank holiday weekend.Administrators from PwC, who were called in earlier this month as Wilko ran short of cash, had warned that redundancies would start within weeks as there had been no viable bids for the bulk of the company. The group employs nearly 12,500
  
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• Trust in supermarkets falls to lowest point since horsemeat scandal

  29-08-2023 10:52 via retailgazette.co.uk
  
  Shoppers’ trust in supermarkets has dropped to its lowest level since the horsemeat scandal over ten years ago, Which? reports.
  In a survey, the group revealed only 48% of consumers trusted the sector to act in their best interest while 18% of shoppers did not trust the sector at all.
  The industry pulled in a trust score of 30 out of a scale of -100 to 100 on the Which? monthly consumer insight tracker.
  The result is the lowest it has been since February 2013, when the score dropped t
  
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• Natura & Co explores sale of The Body Shop

  29-08-2023 09:11 via retailgazette.co.uk
  
  The Body Shop owner Natura & Co is considering a possible sale of the UK retailer after struggling to revive its fortunes post-pandemic.
  The beauty conglomerate said on Monday it was exploring “strategic alternatives” for its skincare unit, which it acquired from L’Oréal in 2017 for £857m.
  A sale of the natural beauty retailer – valued at £405m – is the most likely outcome, according to J.P Morgan analysts, following the sale of its Aesop bran
  
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• Wilko: Union requests urgent meeting with business secretary over retailer’s future

  29-08-2023 08:49 via retailgazette.co.uk
  
  The union representing Wilko workers has requested an urgent meeting with the business secretary after being informed by bidders of “difficulties” in engaging with administrators.
  GMB national secretary Andy Prendergast wrote to Kemi Badenoch on Monday asking her to ensure that PwC was considering all the offers it had received for the ailing retailer that has left 12,500 jobs in limbo.
  In a letter seen by The Guardian, Prendergast said: “We are concerned that prior to our invo
  
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• Kmart eyes UK expansion amid Wilko collapse

  29-08-2023 08:34 via retailgazette.co.uk
  
  Kmart is looking to expand into the UK as it looks to capitalise on the booming value retail market.
  The Australian discount retailer has been in talks with major supermarkets in recent months over deals to replace the retailers’ existing homeware, toy or pet lines with its own Anko-branded versions.
  The chain, owned by former Homebase owner Wesfarmers, is exploring partnerships which would see it manage the non-grocery business of supermarkets through its Anko Global division.Subscribe to
  
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• UK food prices as big a concern for consumers as energy bills, Which? finds

  29-08-2023 07:01
  
  Pace of food inflation continued to slow in August, data shows, but trust in supermarket sector at decade-lowThe rate at which food prices are rising has continued to slow but stubbornly high grocery prices mean the cost of the weekly shop is now as big a concern as energy bills, according to research.Food inflation fell from 13.4% in the year to July to 11.5% in August, according to data published on Tuesday by the British Retail Consortium. This helped bring overall shop price inflation down f
  
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• The Perfume Shop opens experiential store at Basingstoke’s Festival Place

  29-08-2023 02:00 via theretailbulletin.com
  
  The Perfume Shop has opened the doors to another new and improved experiential store at Festival Place, Basingstoke on Friday 25th August 2023. The iconic retailer,... View Article
  
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• Stitch Fix to exit UK market

  29-08-2023 02:00 via theretailbulletin.com
  
  Personal styling platform Stitch Fix has confirmed its departure from the UK market after it was heavily impacted by the current macroeconomic climate. Following a 20... View Article
  
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• [People Matter] The power of connection and social bonds at work

  29-08-2023 02:00 via theretailbulletin.com
  
  Welcome back to the final episode of our Wellbeing series. Today, we dive headfirst into a question that reverberates through boardrooms and break rooms alike: What... View Article
  
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• Natura & Co considers sale of The Body Shop

  29-08-2023 02:00 via theretailbulletin.com
  
  Brazil’s Natura & Co has announced that it has authorised its board of directors and management to explore “strategic alternatives” for The Body Shop. The move... View Article
  
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• Lidl teams up with Arnold Schwarzenegger for budget DIY range

  29-08-2023 02:00 via theretailbulletin.com
  
  Lidl has unveiled the face of its latest range of DIY tools – Hollywood actor Arnold Schwarzenegger. The action star and former governor of California has... View Article
  
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• IKEA pilots car boot sale concept in Milton Keynes and Cardiff

  29-08-2023 02:00 via theretailbulletin.com
  
  IKEA will be piloting fun car boot sale events in its carparks in Milton Keynes and Cardiff this weekend. The move forms part of the retailer’s... View Article
  
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• Consumer confidence improves in August

  29-08-2023 02:00 via theretailbulletin.com
  
  GfK’s long-running Consumer Confidence Index has risen by five points to -25 in August as people feel slightly more optimistic about the outlook for their personal... View Article
  
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• Clintons to close 38 stores as its saves off collapse

  29-08-2023 02:00 via theretailbulletin.com
  
  Clintons is to close 38 stores after an insolvency court approved a restructuring plan to prevent the collapse of the greeting cards retailer. According to a... View Article
  
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• Authentic Brands Group signs deal for Hunter in China

  29-08-2023 02:00 via theretailbulletin.com
  
  Authentic Brands Group has announced a new partnership with Chinese ecommerce firm Baozan in which the latter has acquired a 51% interest in Hunter’s intellectual property... View Article
  
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• UK shop price inflation falls to lowest level in almost a year, data shows

  29-08-2023 01:08
  BRC figures for August show cost of food is biggest driver of rises as annual rate drops to 6.9%
  
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