Retail news

• John Lewis needs to pick up the pace on restructuring | Nils Pratley

  14-09-2023 19:27
  
  Every time the partnership lifts the lid on its challenges, there’s an echo of pre-overhaul M&S circa 2017Set your watch, then, for about half a decade’s time. Three years into an expensive five-year turnaround programme, the John Lewis Partnership says it will need an extra two years to arrive at the sunny uplands of a £400m annual profit.The figure is its definition of a “sustainable” return, meaning one that allows it to invest at a decent pace and pay the st
  
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• Developers and their Tory allies are killing the high street. Only a people’s revolt can stop them now | Simon Jenkins

  14-09-2023 19:14
  
  While local shops in countries such as France are protected, the UK is crippled by lax planning laws and sky-high business ratesHigh streets matter. We don’t want them to follow churches, becoming relics of a mostly dying sense of community. They should be the living hubs of villages and towns and not vanish beneath an anonymous swathe of suburban housing.The news is that 6,000 high-street shops have closed in the past five years. The big stores are already going. Wilko has followed Debenh
  
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• Three out of 10 young adults in UK do not own or ever use an iron, poll finds

  14-09-2023 19:07
  
  In world of less formal dress codes and non-iron fabrics, trends report suggests ironing is for the over 45sIt was once an essential appliance that ensured you looked smart for work or college, but the iron is fast becoming obsolete as more relaxed dress codes mean turning up in rumpled clothing is no longer a faux pas.About 30% of 18- to 34-year-olds do not own an iron and “never iron their clothes”, according to consumer research. When asked why they did not possess an item conside
  
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• Carrefour puts ‘shrinkflation’ price warnings on food to shame brands

  14-09-2023 18:09
  
  French supermarket chain labels products that have shrunk in size but cost more before contract talks with suppliersTell us your experiences of ‘skimpflation’ and ‘shrinkflation’The French supermarket chain Carrefour has put labels on its shelves this week warning shoppers of “shrinkflation”, the phenomenon where manufacturers reduce pack sizes rather than increase prices.It has slapped price warnings on products from Lindt chocolates to Lipton iced tea to pre
  
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• Arm shares set to soar as UK chipmaker joins the Nasdaq – business live

  14-09-2023 16:48
  
  Shares in UK chipmaker are floating on the US stock market todayOn Christmas trading: John Lewis Partnership bosses said the consumer environment was still “reasonably tough” but they were hearing that people are very much looking forward to a good celebration at Christmas, and expected the shopping season to be a “good event” with “great availability.”“We, as a team, feel we have the right skills and capability to deliver the performance that we need,&r
  
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• THG shares plummet after group lowers annual sales forecast

  14-09-2023 16:06
  Ecommerce company reports wider interim losses in wake of high inflation and beauty division’s poor performance
  
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• I work in a supermarket and see how desperate some shoplifters are. My heart goes out to them | Anonymous

  14-09-2023 15:58
  
  Sharon White is right – theft is ‘epidemic’ on the British high street. But more security measures won’t fix our unequal societyWhen I got a job as a supermarket worker five years ago, I did not believe that shoplifting would be a problem. I am from west Africa, and I just couldn’t see how it would happen in Britain, where there is a benefits system, many opportunities and security guards in shops. But now, having witnessed and intervened in many shoplifting inciden
  
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• Footasylum unveils bigger store in Lakeside as it ramps up expansion drive

  14-09-2023 11:38 via retailgazette.co.uk
  
  Footasylum has unveiled its new 10,000sq ft location at Lakeside shopping centre, Essex, as part of its ongoing store opening and upsizing programme.
  The new shop, originally spanning across less than 3,000sq ft, has an “improved look and feel”, showcasing the retailer’s recent investment into its digital capabilities.
  Consumers will be able to shop the retailer’s footwear and menswear ranges, as well – as for the first-time – womenswear.
  It also features clic
  
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• Lidl reports annual loss in UK despite sales rise as cost of expansion bites

  14-09-2023 11:22
  Revenues jump a fifth at discount supermarket chain as shoppers seek bargains
  
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• Nike to open second UK ‘Rise’ concept store in Birmingham

  14-09-2023 11:11 via retailgazette.co.uk
  
  Nike is set to open its second UK ‘Nike Rise’ concept store Birmingham’s Bullring & Grand Central shopping centre.
  The new opening later this year follows the sporting giant’s Rise concept’s success across Asia, the US and a debut UK store in London which opened last summer.
  Covering 13,000 sq ft, the shop will feature several data-driven elements that are specifically tailored to be unique to its location.
  Nike Birmingham will also host local events for members
  
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• Lidl in Britain makes £76m loss amid battles to keep a lid on rising prices

  14-09-2023 10:25
  
  German-owned discount chain reports 18% sales rise and extra market share but inflation had cost it £100m to keep prices low Discount supermarket chain Lidl has revealed its British arm swung to an annual loss after battling to keep a lid on prices as its costs rose “across the board”.The group reported pre-tax losses of £76m for the year to 28 February against profits of £41.1m the previous year as it also invested heavily in the business. Continue reading...
  
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• Lidl swings to £76m annual loss despite sales soaring

  14-09-2023 10:03 via retailgazette.co.uk
  
  Lidl’s UK business swung to a £75.9m loss in the last year despite sales soaring.
  The loss came against a £41.1m profit the year before. On an EBIT level, profits plunged from £79m to £28.5m in the year to 28 February.
  Over the year, sales rose nearly 19% to £9.3bn at the discount grocer as its market share rise from 6.1% to 7.1%, marking its fastest growth in the past five years.Subscribe to Retail Gazette for free
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• John Lewis Partnership losses narrow as White’s plan suffers two-year setback

  14-09-2023 09:45 via retailgazette.co.uk
  
  John Lewis losses before tax narrowed in its half year but chair Dame Sharon White’s plan has been pushed back two years due to “inflationary pressures”.
  Losses before tax and exceptional items were £57.3m, a 14% improvement on last year.
  Total sales across the partnership were up 2% year on year, while 600,000 more customers shopped with John Lewis during the half.
  Waitrose trading operating profit improved from 16% to £504.4m over the half to 29 July whilst a
  
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• John Lewis warns of 2-year delay to turnaround plan

  14-09-2023 09:35
  Retailer says transformation won’t be complete until 2027/2028 owing to inflation and rising wage costs
  
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• THG retains profit outlook despite widening losses

  14-09-2023 09:32 via retailgazette.co.uk
  
  THG has retained its annual profit outlook noting sales were “gradually improving” in the second half, despite posting a drop in operating losses.
  The online retailer said its losses deepened 11% to £99.5m in the six months to 30 June 2022, due to £26.2m one-off, non-cash charge related to the sale of its loss-making discontinued categories and non-core assets. Without this charge, operating loss improved by £15.9m.
  Group sales fell 9.3% over the period to &pou
  
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• After Wilko’s demise, what’s next for the value sector?

  14-09-2023 09:23 via retailgazette.co.uk
  
  The Wilko story drew to a close this week after it emerged that two last-minute bids to save the retailer had fallen through.
  Administrators at PwC are now in the process of selling off the scraps of the business, with rivals including Poundland, B&M and The Range picking up its assets.
  Wilko plunged into administration early last month having spent the majority of the year teetering on brink of collapse, despite the rest of the value sector soaring amid the cost-of-living crisis. 
  It s
  
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• Losses at John Lewis narrow as Sharon White suggests reasons for optimism

  14-09-2023 09:20
  
  Partnership’s chair says smaller loss an optimistic sign that turnaround on track but inflation has delayed planThe owner of John Lewis and Waitrose remains in the red after it reported another loss for the first half of the year, and admitted that its turnaround plan will take two years longer to deliver.The John Lewis Partnership made a pre-tax loss of £59m for the 26 weeks to 29 July, as it continued to face pressures from higher costs, and noted caution from shoppers during the c
  
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• John Lewis turnaround timeframe extended amid fresh losses

  14-09-2023 09:20
  
  Partnership says smaller first-half loss is optimistic sign but recovery plan likely to take two years longer than scheduledThe owner of John Lewis and Waitrose has said its turnaround plan will take two years longer than scheduled, after reporting another loss for the first half of the year.The John Lewis Partnership made a pre-tax loss of £59m for the 26 weeks to 29 July, as it continued to face pressures from higher costs, and caution from shoppers during the cost of living crisis. Cont
  
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• John Lewis delays turnaround plan amid further losses; Arm valued at $54.5bn ahead of IPO – business live

  14-09-2023 09:01
  
  The John Lewis Partnership has blamed inflation for delaying its turnaround plan by two years, meaning its targets will only be reached in 2027/28.Disappointing news from the John Lewis Partnership this morning.The partnership, which runs John Lewis department stores and Waitrose supermarkets, reported a £59m pre-tax loss in the six months to July.A combination of inflationary pressures and greater than expected investment requirements for our transformation means it will take a further tw
  
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• Confirmed: The Range buys Wilko brand for £5m

  14-09-2023 08:30 via retailgazette.co.uk
  
  The Range has snapped up Wilko’s brand, website and intellectual property, administrators at PwC confirmed on Thursday.
  The discount retailer is understood to have paid £5m for the family-owned chain’s assets, Sky News reported.
  The deal will see Wilko’s online operations recommence after the administration store trading programme concludes in early October.
  The transaction will also see 36 employees from Wilko’s digital team transferred over to The Range.
  PwC
  
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• After 1bn copies and 118 years, the Freemans catalogue moves to turn its final page

  14-09-2023 07:01
  
  Mail order stalwart to focus on online sales in bid to become a ‘digital department store’For more than a century, the Freemans catalogue was the shopping bible to which generations of Britons turned to buy next big thing, from the first off-the-peg fashions to the televisions and fridges we take for granted in our homes today.But like the ever changing roster of products sold through the once tome-like catalogue, the owner of Freemans has decided that it too has passed its sell-by d
  
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• The Perfume Shop becomes a certified Top Employer

  14-09-2023 02:00 via theretailbulletin.com
  
  The Perfume Shop, the UK’s largest fragrance retailer, has successfully secured certification as a Top Employer from the Top Employers Institute who are the global authority... View Article
  
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• Swedish body care brand Estrid announces London expansion

  14-09-2023 02:00 via theretailbulletin.com
  
  Swedish body care brand, Estrid, has announced plans to open a second corporate headquarters in London following a period of explosive growth, which has seen the... View Article
  
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• Ribble launches Stone into Gravel

  14-09-2023 02:00 via theretailbulletin.com
  
  Ribble Cycles , one of the longest established bicycle manufacturers in the world has announced a new range into their Collection. Ribble takes their award-winning Gravel... View Article
  
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• Pepco Group chief executive steps down

  14-09-2023 02:00 via theretailbulletin.com
  
  Poundland parent company Pepco Group has announced that its chief executive Trevor Masters has stepped down. The group’s chair, Andy Bond, will take on the role... View Article
  
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• Nike Rise selects Bullring for first concept store in Birmingham

  14-09-2023 02:00 via theretailbulletin.com
  
  Nike has chosen Birmingham as the location for its second UK ‘Nike Rise’ concept store. The new shop at Bullring & Grand Central will follow the... View Article
  
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• Lidl swings to annual loss despite revenue increase

  14-09-2023 02:00 via theretailbulletin.com
  
  Lidl saw its revenue increase by 18.8% to £9.3 billion in the year to 28 February. However, the discounter has swung to a loss of £75.9... View Article
  
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• John Lewis Partnership posts improved financial performance

  14-09-2023 02:00 via theretailbulletin.com
  
  The John Lewis Partnership has posted an improved financial performance in the 26 weeks to 29 July with pre-tax losses narrowing from £99.2 million to £59... View Article
  
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• Hamleys open flagship store in Italy with Giochi Preziosi S.P.A

  14-09-2023 02:00 via theretailbulletin.com
  
  Hamleys, the world’s oldest toy retailer , has inaugurated its very first exclusive retail store in Italy with franchisee GIOCHI PREZIOSI S.P.A (GP), a prominent player... View Article
  
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• Freemans drops printed catalogue after 118 years

  14-09-2023 02:00 via theretailbulletin.com
  
  Freemans has announced that it is to stop printing its catalogue after 118 years as part of ongoing initiatives to reinvent itself as a digital pureplay.... View Article
  
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• DWF advises Pepco Group on acquisition of Wilko store leases

  14-09-2023 02:00 via theretailbulletin.com
  
  DWF, the global provider of integrated legal and business services, has advised long-standing client Pepco Group, the fast-growing variety discount retailer which owns the Pepco and... View Article
  
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• [ WEBINAR] TODAY – From goods provider to trusted friend: decoding emotional loyalty at the upcoming webinar

  14-09-2023 02:00 via theretailbulletin.com
  
  Join Comarch on September 26, 2023, at 9:00 am CEST, as they explore the profound realm of customer loyalty beyond mere discounts. Discover the ultimate guide... View Article
  
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• [ WEBINAR] From goods provider to trusted friend: decoding emotional loyalty at the upcoming webinar

  14-09-2023 02:00 via theretailbulletin.com
  
  Join Comarch on September 26, 2023, at 9:00 am CEST, as they explore the profound realm of customer loyalty beyond mere discounts. Discover the ultimate guide... View Article
  
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• Freemans ditches print catalogue after 118 years

  14-09-2023 01:01 via retailgazette.co.uk
  
  Freemans is dropping its print catalogue after 118 years as its online sales grow.
  While each catalogue features a few thousand products, its website hosts 55,000 items for customers.
  Today, Freemans pulls in more than 30m unique visitors to its website per year.
  The move is set to save 650 tonnes of paper, making it the equivalent of 11,000 trees.Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning The news coincides with
  
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• Chick-fil-A to make second attempt at UK launch after previous gay rights backlash

  14-09-2023 01:01
  US fast-food chain closed initial store in 2019 following protests by campaigners
  
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