Retail news

• The Entertainer profits plunge despite 10% sales rise

  22-09-2023 18:40 via retailgazette.co.uk
  
  The Entertainer’s pre-tax profits dropped from £22.5m last year to £7.6m, despite experiencing nearly a 10% rise in sales.
  The toy retailer’s sales edged up 1% on pre-pandemic levels, for the year ended 28 January 2023. While store sales were “up significantly”, the business noted online sales dropped compared to the previous year, although were higher than pre-Covid.
  The retailer said it had been hit by socio-economic conditions over the year.
  It said: &ldquo
  
  Read more

• Superdrug to stop selling single-use vapes in UK and Ireland

  22-09-2023 16:36
  
  Retailer responds to concerns about environmental impact of millions of e-cigarettes thrown away each weekSuperdrug will stop selling disposable vapes in all its UK and Ireland stores after concerns about the environmental damage from millions of single-use e-cigarettes.Brands such as Vuse GO and Flavaah Bars would no longer be sold, the retailer said, adding that it would have the stock completely cleared by the end of the year. Superdrug said it sold an average of 1,300 units of single-use vap
  
  Read more

• Mothercare seeks new funding as it swings to loss

  22-09-2023 15:03 via retailgazette.co.uk
  
  Mothercare has slipped into the red ahead of completing a refinancing to ensure the group has “adequate and appropriate financing for the future”.
  The nursery retailer posted a pre-tax loss of £0.1m in the year to 25 March 2023, down from a profit of £12.1m the year before.
  Sales for the period dropped 11% to £73.1m.Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning The retailer, which licens
  
  Read more

• In pictures: New Balance unveils fresh retail concept at Westfield Stratford

  22-09-2023 14:59 via retailgazette.co.uk
  
  New Balance has opened the doors to its new retail store concept at Westfield Stratford City, London.The sporting giant’s store features a new concept which puts people, not products, at the centre of the consumer experience.The design aims to encourage customers to convene, draw inspiration from each other, and find their authentic style.The selection of footwear and apparel within will be curated so both athletes and influencers can find products to suit their needs.The London Stratford
  
  Read more

• Advertisement

• UK recession risk grows as higher interest rates weigh on firms

  22-09-2023 14:47
  
  Service sector and manufacturing output falls, with cost of living crisis also hitting businessesBusiness live – latest updatesBritain’s economy is at growing risk of recession, with industry figures showing the sharpest monthly fall in private sector activity, outside of the Covid pandemic, since the financial crisis.In a sign that higher interest rates and the cost of living crisis are combining to depress consumer demand, the latest snapshot from S&P Global and the Chartered I
  
  Read more

• The UK high street heist: how retailers are battling a crime wave

  22-09-2023 13:17
  Groups from Primark to John Lewis warn surge in shoplifting and abuse of staff is hitting profitability
  
  Read more

• Maximise Your Black Friday Sales With The Little Black Book Of Marketplace Tips

  22-09-2023 11:30 via retailgazette.co.uk
  
  Are you utilising marketplaces to increase your sales this Black Friday?
  From eBay, Amazon, B&Q, and The Range, to Debenhams, Boots, and Superdrug… the list of marketplace opportunities is endless.
  Now is the Tyme to up your Black Friday game and devise a solid Black Friday strategy that will revolutionise your sales and revenue outputs.
  Whether you’re looking to start, or you already sell via marketplaces and want to sense-check your strategic offering, it’s Tyme to Down
  
  Read more

• UK consumer confidence soars to highest point in 20 months

  22-09-2023 11:00 via retailgazette.co.uk
  
  Consumer confidence across the UK has climbed to its highest point since January 2022, rising for the second consecutive month in September.
  The consumer confidence index increased by four points to -21 this month.
  The value has exceeded the record low of -49 during the same time last year, according to market research company GfK.
  The rise was aided by easing inflation rates and strong wage growth.
  Economists in a Reuters poll previously forecast the consumer confidence index would fall to -27
  
  Read more

• Advertisement

• Deliver a fast, secure and dynamic in-store experience with a wireless technology solution

  22-09-2023 11:00 via retailgazette.co.uk
  
  Customer shopping habits are shaped by their online experiences, and they bring that expectation with them when they visit a brick-and-mortar store. Creating a seamless in-store Wi-Fi experience, backed by a secure enterprise-grade wireless network, is vital if you want to nurture that omnichannel customer journey.
  New enhancements in wireless protocols and the advent of 5G are giving retailers more tools than ever to transform the customer in-store experience. Key benefits include:
  Fast and fr
  
  Read more

• Cupboard staples over three times more expensive than budget options, says Which?

  22-09-2023 10:34 via retailgazette.co.uk
  
  Cupboard staples including baked beans, tea bags and pasta can cost more than three times as much if the budget versions are unavailable, according to Which?.
  The consumer group has urged supermarkets to ensure its value ranges are stocked in all stores as it found how much more shoppers were paying when the cheaper alternatives were not available.
  It said this was often the case for consumers who relied on local convenience shops.
  Which? found shoppers would have to pay 247% more for Asda&rsquo
  
  Read more

• Adidas CEO: Kanye West did not mean antisemitic remarks

  22-09-2023 10:13 via retailgazette.co.uk
  Adidas boss Bjørn Gulden has defended controversial rapper Kanye West over the antisemitic remarks he made which the sports giant previously labelled as “unacceptable, hateful and dangerous”.
  The chief executive told a Norwegian podcast: “I don’t think he meant what he said. I don’t think he’s a bad person.”
  The sports group cut ties with West last October following several offensive and antisemitic comments.
  “As creative people, he did some
  
  Read more

• Currys kicks off seasonal recruitment drive with over 1000 roles available

  22-09-2023 09:39 via retailgazette.co.uk
  
  Currys is set to create over 1,100 new roles during this year’s peak trading period as it looks to shore up the business through the busiest time of the year, the period leading up to Black Friday through to the January sales.
  720 temporary roles have been made available across the electrical retailer’s 285 UK and 16 ROI stores.
  The roles are largely made up of sales & support roles, offering external as well as internal applicants the opportunity to work directly with customers
  
  Read more

• Ocado shares plunge 20% in worst fall for 11 years

  22-09-2023 09:16 via retailgazette.co.uk
  
  Ocado lost a fifth of its value yesterday, suffering its worst drop in 11 years after it was downgraded by a City broker.
  The stock fell 19.9%, wiping nearly £1.4bn off the online supermarket group’s value – shaving £32m off the stake held by co-founder and chief executive Tim Steiner.
  Ocado was among the lockdown winners thanks to its online business model, with its share price hitting a record 2895p in September 2020.
  But it dropped as low as 343p in June this year.Subs
  
  Read more

• Retail sales recover in August following July washout

  22-09-2023 08:58 via retailgazette.co.uk
  
  Retail sales have risen 0.4% in August compared to a slight fall of 1.1% in July primarily driven by better weather, according to the Office for National Statistics (ONS).It comes in slightly below expectations after economists had predicted a 0.5% rise for August.Clothing stores rebounded in spending last month with sales up by 2.3%
  However, fuel sales acted as a drag on the overall figure, with volumes falling by 1.2% and retailers suggesting the sharp increase in petrol and diesel prices
  
  Read more

• British retail sales rebound as shoppers return to high streets

  22-09-2023 08:53
  July rain had depressed quantity of goods bought, says UK’s statistics agency
  
  Read more

• Superdrug stops selling single-use vapes due to environmental concerns

  22-09-2023 08:47 via retailgazette.co.uk
  
  Superdrug is stopping the sale of single-use vapes from across all its UK and Ireland stores, following the news that nearly five million disposable vapes are thrown away every week.
  Single-use vapes have come under fire in recent weeks for the vast wastage they cause, with many calling for an outright ban as the number of disposable single-use vapes being thrown away in the UK each week has soared by almost 400% in just one year.
  Read the full story over on Sustainability Beat
  Click here to sig
  
  Read more

• Frasers pulls Morgan Stanley boss into court battle as it seeks £50m damages

  22-09-2023 08:33 via retailgazette.co.uk
  
  Frasers has asked a New York court to order Morgan Stanley chief executive James Gorman to produce evidence in a UK lawsuit it is pursuing against the bank over an almost $1bn margin call covering trades in Hugo Boss.
  Frasers claimed in its 2021 lawsuit that the New York bank acted “arbitrarily” and “incorrectly” by trying to force the retailer to close options positions it had built in Hugo Boss, losing the company millions as a result.
  Mike Ashley’s group is
  
  Read more

• [People in Retail Awards] Winners announced

  22-09-2023 02:00 via theretailbulletin.com
  
  Together with the retail community, we had an amazing time celebrating the inaugural People in Retail Awards last night at the Marriott Hotel in London’s Grosvenor... View Article
  
  Read more

• How Next is avoiding becoming a ‘corporate blob’

  22-09-2023 01:05 via retailgazette.co.uk
  
  Next may be smashing its short-term objectives as it raised its profit forecast for the third time this year, however, boss Lord Wolfson has his sights firmly set on the long term.
  As the business continues to snap up ailing businesses, a big concern for the retail boss is how it avoids becoming a “corporate blob”, as Wolfson terms it.
  “The biggest risk is that, in making multiple investments, we build an unwieldy retail conglomerate that lacks the focus and agility we have wor
  
  Read more

Follow @retailuknws on Twitter!