Retail news

• Wilko: rescue deal to save many stores at risk over supplier debts

  04-09-2023 20:39
  
  Big suppliers want debts paid upfront in order to guarantee supplying shopsMeet Hilco, the firm behind the scenes at Wilko failure and other high street collapsesA rescue deal to save the majority of Wilko’s stores has been put at risk as some key suppliers want outstanding debts repaid upfront to guarantee continuing to provide products to the chain.Doug Putman, who engineered a turnaround of HMV in the UK and owns Toys R Us in Canada, has been negotiating a deal to save as many as 300 of
  
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• Meet Hilco, the firm behind the scenes at Wilko failure and other high street collapses

  04-09-2023 19:21
  
  Restructuring specialist made its name through dealings with some of best-known British retailersIt has been a tough few weeks for staff at Wilko, with the first round of potentially thousands of job cuts at the failed budget retailer due to start this week despite hopes remaining of a rescue deal for parts of the business.However, the picture is much rosier for its biggest creditor, the restructuring specialist Hilco Capital, which in recent years has made its name through dealings with some of
  
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• ‘This is psychological warfare’: Starbucks workers allege anti-union firings

  04-09-2023 12:00
  
  The National Labor Relations Board has reinstated 28 of the more than 200 pro-union workers fired since late 2021Alicia Flores had worked at Starbucks in Portland, Oregon, for seven years until June, when she received a voicemail from a manager – filling in for her usual boss, who was taking a leave of absence – who informed her she was being fired.Flores is far from alone. Continue reading...
  
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• Oh Polly posts record sales following US expansion

  04-09-2023 11:18 via retailgazette.co.uk
  
  Fashion etailer Oh Polly has pulled in record sales for the year, following its expansion into Australia and the US.
  The retailer saw 45% year-on-year sales growth, hitting a record £113m for the year ended 30 April 2023.
  The etailer recorded pre-tax profit of £11.2m for the period.
  Oh Polly collaborated with former Love Island star Ekin-Su Cülcüloğlu during the financial year, which it attributed to a rise in brand awareness.Subscribe to Retail Gazette for free
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• M&S bolsters third-party beauty roster with Estée Lauder

  04-09-2023 09:52 via retailgazette.co.uk
  
  Marks & Spencer has added Estée Lauder Fragrance to its growing roster of third-party brands as the retailer looks to draw in new customers, The Times reports.
  The business is looking to bolster its beauty offering following its successful partnership with Clinique last year.
  M&S is set to introduce over 30 fragrances from Estée Lauder, including the Beautiful, Bronze Goddess and Pleasures collections for women and Aramis for men, from next month.Subscribe to Retail Gazette
  
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• Asda faces MP grilling over its ability to tackle cost of living pressures

  04-09-2023 09:17 via retailgazette.co.uk
  
  MPs have flagged that Asda’s ownership structure could be limiting the supermarket’s ability to help shoppers amid the ongoing cost of living crisis.
  In a letter to one of the billionaire brothers who bought the supermarket with private equity firm TDR Capital back in 2020, Darren Jones, the chair of parliament’s business and trade select committee, has asked for details of its corporate structure, capital investment and profit margins on petrol.
  In the letter he also requ
  
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• Asda faces MP grilling over capacity to tackle cost of living pressures

  04-09-2023 09:17 via retailgazette.co.uk
  
  MPs have flagged that Asda’s ownership structure could be limiting the supermarket’s ability to help shoppers amid the ongoing cost of living crisis.
  In a letter to one of the billionaire brothers who bought the supermarket with private equity firm TDR Capital back in 2020, Darren Jones, the chair of parliament’s business and trade select committee, has asked for details of its corporate structure, capital investment and profit margins on petrol.
  In the letter he also requ
  
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• Wilko auditor under scrutiny for approving accounts of collapsed retailer

  04-09-2023 08:37 via retailgazette.co.uk
  
  Wilko’s auditor EY is facing backlash due to its oversight of the collapsed retailer after approving the company’s accounts despite Wilko cautioning that it lacked the necessary funds to withstand a significant sales drop.
  It comes as MPs on the Business Committee are set to meet gather on Tuesday to discuss the fate of the retailer, which collapsed into administration last month.
  According to This is Money, the risk of insolvency was flagged as long ago as January last year when the
  
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• MPs question Asda about ability to meet cost of living pressures

  04-09-2023 07:00
  
  Supermarket co-owner Mohsin Issa asked to detail corporate structure as well as profit margins on petrolMPs have raised concerns that Asda’s ownership structure could be limiting the supermarket’s ability to support shoppers through the cost of living crisis.In a letter to Mohsin Issa, one of the billionaire brothers who bought the supermarket with a private equity partner, TDR Capital, in 2020, Darren Jones, the chair of parliament’s business and trade select committee, has as
  
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• The Holiday Inspiration Guideretail

  04-09-2023 02:00 via theretailbulletin.com
  
  Get a head start on seasonal campaigns. The peak trading season may be months away, but you know it’s never too early to start working on... View Article
  
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• The Holiday Inspiration Guide

  04-09-2023 02:00 via theretailbulletin.com
  
  Get a head start on seasonal campaigns. The peak trading season may be months away, but you know it’s never too early to start working on... View Article
  
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• Tesco unveils another round of price cuts

  04-09-2023 02:00 via theretailbulletin.com
  
  Tesco has embarked on another round of price cuts with reductions on more than 50 products. Many of the cuts are aimed at parents with a... View Article
  
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• Reiss joins line-up at Centre:mk

  04-09-2023 02:00 via theretailbulletin.com
  
  Premium fashion brand Reiss has opened a new regional store in Milton Keynes at Centre:mk. Spanning 1,884 square feet, the shop on the scheme’s Silbury Arcade... View Article
  
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• Pizza Express partners with Too Good to Go

  04-09-2023 02:00 via theretailbulletin.com
  
  PizzaExpress has announced a partnership with Too Good To Go, the world’s number one marketplace for surplus food. Having initially trialled the food waste redirection stream... View Article
  
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• Pepco continues European expansion with Bosnia and Herzegovina launch

  04-09-2023 02:00 via theretailbulletin.com
  
  Pepco Group, the owner of Poundland, Pepco and Dealz, will be opening its first Pepco store in Bosnia and Herzegovina as it continues its European expansion.... View Article
  
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• Oh Polly hails “outstanding” financial performance

  04-09-2023 02:00 via theretailbulletin.com
  
  Oh Polly Group has posted revenue of £113 million and a pre-tax profit of £11.2 million in the year ending April 2023. Despite what it described... View Article
  
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• Lidl GB becomes highest paying supermarket

  04-09-2023 02:00 via theretailbulletin.com
  
  Lidl GB has become the highest-paying supermarket in the sector as its 24,500 colleagues begin receiving up to 16% more than their counterparts at traditional and... View Article
  
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• Intimissimi announces reopening of Bond Street store

  04-09-2023 02:00 via theretailbulletin.com
  
  Intimissimi UK is delighted to welcome again customers into its physical store, located near Bond Street underground station. The refurbished space is located in the same... View Article
  
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• Gloucester Quays strikes over 13,890 square feet of new deals

  04-09-2023 02:00 via theretailbulletin.com
  
  Gloucester Quays has recently struck over 13,890 square feet of new deals for its premium outlet destination. This has included a new 1,050-square-foot store for Claire’s,... View Article
  
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• Crocs welcomes new senior vice president for investor relations and corporate strategy

  04-09-2023 02:00 via theretailbulletin.com
  
  Footwear brand Crocs has appointed Erinn Murphy as senior vice president, investor relations and corporate strategy. Due to join the brand’s enterprise leadership team on 5... View Article
  
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• Morrisons launches eighth round of price cuts this year

  04-09-2023 01:01 via retailgazette.co.uk
  
  Morrisons is slashing prices on more than 170 products throughout stores this week, making it the eight round of price reductions for the supermarket this year.
  The grocer has lowered and locked over 1,000 prices each week since January, in a bid to help customers plan their budgets without the worry of price fluctuations.
  The supermarket has also launched “More Month” this September to help shoppers stock up, budget and bank extra loyalty card points.
  Under the scheme, More Card sho
  
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