Retail news

• Instacart shares open 40% higher on public market debut

  19-09-2023 19:05
  Grocery delivery group’s listing on Nasdaq is latest sign of thaw in IPO activity
  
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• Instacart shares jump on public market debut

  19-09-2023 19:05
  Grocery delivery group’s listing on Nasdaq is latest sign of thaw in IPO activity
  
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• Instacart shares close up 12% after public market debut

  19-09-2023 19:05
  Grocery delivery group’s listing on Nasdaq is latest sign of thaw in IPO activity
  
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• British Land: surprising resilience of retail parks offers bright spot

  19-09-2023 16:26
  A reinvention with online sales and click and collect has turned fortunes around
  
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• H&M is latest fashion retailer in UK to charge to return online purchases

  19-09-2023 16:05
  
  Rise in delivery and processing costs combined with increased use of free returns leads to £1.99 chargeThe Swedish chain H&M has become the latest in the fashion sector to start charging shoppers to return unwanted items bought online.The group, the world’s second-largest clothing retailer after Zara-owner Inditex, will charge £1.99 to take back items that are not damaged or faulty – either in stores or by post. Continue reading...
  
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• B&Q owner cashes in as Britons improve homes rather than move

  19-09-2023 15:04
  
  Kingfisher says people are staying put as mortgage interest rates and household bills soarBritish consumers are continuing to spend on improving their homes and gardens as an alternative to moving home amid soaring mortgage rates and a surge in household bills, according to the owner of B&Q and Screwfix.Sales at Kingfisher’s UK and Irish business rose 1.7% in the six months to the end of July as homeowners bought 11% more insulation materials at B&Q in an attempt to offset winter h
  
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• Asda hires ex-M&S CTO as it separates from Walmart

  19-09-2023 14:11 via retailgazette.co.uk
  
  Asda has appointed two new members to its tech team, including former M&S chief technology officer Rob Barnes, who are set to oversee the development of its new technology strategy and separation from Walmart.
  The supermarket will welcome Barnes as its new delivery director early next year.
  The executive will be responsible for the design, build and delivery of all colleague and customer-facing technology, and will also act as deputy chief information officer at the company.
  Prior to working
  
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• Ocado Retail CEO expects further price cuts as it focuses on value

  19-09-2023 13:05 via retailgazette.co.uk
  
  Ocado Retail CEO Hannah Gibson “expects further (price cuts) to come” following recent reductions under the retailer’s Big Price Drop campaign.
  The executive explained the business was continuing to work with its supplier base and considers further investment opportunities in prices.
  Gibson noted Ocado had continued to improve in terms of how shoppers were rating the supermarket for value.
  The chief executive also said the retailer was gaining shoppers from a wider range o
  
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• Ocado CEO expects further price cuts as it focuses on value

  19-09-2023 13:05 via retailgazette.co.uk
  
  Ocado CEO Hannah Gibson “expects further (price cuts) to come” following recent reductions under the retailer’s Big Price Drop campaign.
  The executive explained the business was continuing to work with its supplier base and considers further investment opportunities in prices.
  Gibson noted Ocado had continued to improve in terms of how shoppers were rating the supermarket for value.
  The chief executive also said the retailer was gaining shoppers from a wider range of store
  
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• H&M joins Zara and Boohoo in charging for online returns

  19-09-2023 12:34 via retailgazette.co.uk
  
  H&M has joined fellow fashion giant’s Zara and Boohoo in charging customers for returning items purchased online.
  According to the BBC, shoppers at the Swedish fashion retailer now must pay £1.99 to return parcels either in store or online, with the cost taken from their refund.
  Although returns will remain free of charge for H&M members.Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning An H&M spo
  
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• Moonpig predicts sales rise for first half, boosted by new features

  19-09-2023 12:32 via retailgazette.co.uk
  
  Moonpig expects its pro forma sales to nudge up by a low single digit percentage for its first half, as customers make use of its new features.
  The online card company attributed the rise to the Moonpig brand which remains in growth, despite the continued challenging macroeconomic environment experienced by the business.
  New additions to the retailer include its UK Moonpig Plus subscription service, the Greetz app in the Netherlands, and creative card features, such as video messages, across bot
  
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• Naked Wines warns on collapse as it swings to loss

  19-09-2023 10:02 via retailgazette.co.uk
  
  Naked Wines swung to a loss of £15m in 2023, warning that it could fail to meet its financial commitments if a “combination” of factors affects its cash flow.
  Naked Wines’ sales dropped to £26.9m from £34m in 2022 as the online wine specialist struggled to get through excess stock and sustained high inflation in key markets, hitting their supply chain costs.
  In a trading update, the group said new customer investment fell 48% while repeat customer contribution
  
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• Naked Wines swings to loss as chairman issues apology

  19-09-2023 10:02 via retailgazette.co.uk
  
  Naked Wines’ sales dropped to £26.9m, down from £34m in 2022 as the online wine specialist swung to a loss of £15m in 2023, compared to a profit of £2.9m last year.
  The retailer said it has struggled to get through excess stock and sustained high inflation in key markets, hitting their supply chain costs.
  In a trading update the group said new customer investment fell 48% while repeat customer contribution stayed roughly flat.
  Chief executive Nick Devlin said the fo
  
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• Tesco accused of greenwashing deforestation pledges

  19-09-2023 10:01 via retailgazette.co.uk
  
  Tesco has been accused of greenwashing after Brazilian meat was found on sale in-store and online, despite promising to ban it due to deforestation.
  The UK’s largest supermarket said it would no longer sell Brazilian beef, chicken or pork over three years ago, when it reformed its supply chains to help end deforestation within the Amazon rainforest.
  Campaigners including Mighty Earth are now calling for Tesco to be investigated by the Competition and Markets Authority (CMA).
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• Asos to shutter Outlet department as it focuses on profitability

  19-09-2023 09:43 via retailgazette.co.uk
  
  Asos is set to shutter its outlet department that houses non-strategic third-party brands, putting 15 jobs at risk of redundancy, Drapers reports.
  The online giant’s latest move comes as it looks to focus on key strategic brands to improve profitability as part of its “Driving Change” turnaround plan released last October.
  Asos Outlet was launched back in 2008 as a dedicated shop within Asos for its end-of-season products from third-party brands at up to 70% off.
  It has also be
  
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• Quiz sales plummet 15% as it forecasts full-year loss

  19-09-2023 09:28 via retailgazette.co.uk
  
  Quiz sales plunged 15.3% in the five months to 31 August as it warned it will now make a pre-tax loss for the year.
  The fashion retailer said that “inflationary cost pressures have continued to impact consumer confidence and demand for Quiz’s products” as sales fell below management’s expectations.
  It now forecasts sales to be 6% to 7% below current market expecations which it said would have a knock-on impact on profitability with the business now expecting to make a pre
  
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• B&Q owner Kingfisher cuts profit forecast

  19-09-2023 09:27
  Home improvement retailer hit by weaker trading in Poland and France
  
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• Kingfisher slashes guidance as economy bites

  19-09-2023 09:16 via retailgazette.co.uk
  
  B&Q owner Kingfisher has slashed its full year profit guidance to £590m down from £634m as the home improvements retailer continues to after facing harsh trading conditions, particularly in overseas markets.
  Operating profits for the group slipped 30.9% to £367m and gross profit dipped one per cent to £2.49bn.
  Although the business, which also owns Screwfix, said that in its UK and Ireland trade proved resilient with like-for-like sales up 1.7%.Sign up here&
  
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• B&Q owner Kingfisher slashes profit guidance as economy bites

  19-09-2023 09:16 via retailgazette.co.uk
  
  B&Q owner Kingfisher has slashed its full year profit guidance to £590m down from £634m as the home improvements retailer continues to after facing harsh trading conditions, particularly in overseas markets.
  Operating profits for the group slipped 30.9% to £367m and gross profit dipped one per cent to £2.49bn.
  Although the business, which also owns Screwfix, said that in its UK and Ireland trade proved resilient with like-for-like sales up 1.7%.Sign up here&
  
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• Ocado sales grow as price cuts pay off

  19-09-2023 09:07 via retailgazette.co.uk
  
  Ocado sales jumped 7.2% in its third quarter as the online grocer returned to volume growth last month after the launch of its big price cut campaign.
  The online grocer had been under pressure to improve performance after Archie Norman, the chair of joint venture partner M&S told shareholders he was “not happy” with its performance at its AGM in July.
  However, the sales growth in the third quarter to 27 August showed an “accelerating trend” on the 5% growth it achieve
  
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• Tim Hortons to launch new franchise model in the UK

  19-09-2023 02:00 via theretailbulletin.com
  
  Tim Hortons is to launch a new franchise model in the UK as it looks to expand its portfolio of 75 outlets across the country. Having... View Article
  
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• Quiz sales come in below management expectations

  19-09-2023 02:00 via theretailbulletin.com
  
  Quiz has warned that it may report a full-year loss after inflationary cost pressures impacted consumer confidence and demand for  its dressy occasion wear. The retailer... View Article
  
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• Majestic continues store expansion programme with Newark opening

  19-09-2023 02:00 via theretailbulletin.com
  
  Specialist wine retailer Majestic has opened its latest store in Newark-on-Trent as it accelerates the expansion of its store portfolio. Situated on the Maltings Retail Park,... View Article
  
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• Kingfisher lowers full year profit guidance

  19-09-2023 02:00 via theretailbulletin.com
  
  B&Q owner Kingfisher has lowered its full year profit guidance after its sales continue to be impacted by a difficult trading environment. In a half-year sales... View Article
  
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• Get set for this year’s Retail HR Summit

  19-09-2023 02:00 via theretailbulletin.com
  
  There are now just a couple of days to go until The Retail Bulletin’s highly anticipated Retail HR Summit, which will be held live in London... View Article
  
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• EG Group appoints new chief executive of EG America

  19-09-2023 02:00 via theretailbulletin.com
  
  EG Group has appointed John Carey as chief executive and president of EG America. The group launched in the US in 2018 when it acquired Kroger’s... View Article
  
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• [ REPORT ] Discover how much your customers plan on spending this Christmas

  19-09-2023 02:00 via theretailbulletin.com
  
  Let us help you with your 2023 winter campaigns.  Now is the time to start planning, so our team at It Works Media has created a... View Article
  
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• Instacart prices shares at $30 as IPO market warms up

  19-09-2023 00:44
  Online delivery company is the latest to seize on improving conditions for public listings
  
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