Retail news

• Wells Fargo to pay $550mn for Neiman Marcus’s empty space at Hudson Yards

  27-09-2023 22:47
  Bank adds to its office capacity on the west side of Manhattan after luxury retailer pulls out
  
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• Indonesian ban on social media transactions deals TikTok major blow

  27-09-2023 17:50
  Video app can no longer facilitate ecommerce sales on its platform in what had been its largest market
  
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• Morrisons boss to be succeeded by former Carrefour chief

  27-09-2023 17:18
  David Potts steps down after nine years at UK supermarket group with Rami Baitiéh set to take over next month
  
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• Lounge Underwear to open first physical store in Westfield

  27-09-2023 16:13 via retailgazette.co.uk
  
  Lounge Underwear is set to open the doors to its first permanent store next month in Westfield White City.
  After 7 years trading solely online and scaling the business to £71m, the lingerie retailer will welcome shoppers to its new store from Saturday 7th October.
  According to the company, the store will feature a modern, luxury aesthetic with innovative fitting rooms inside and assistant shopping services that are set to “change the way women shop underwear and apparel”.S
  
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• Lounge Underwear launches first physical store in Westfield

  27-09-2023 16:13 via retailgazette.co.uk
  
  Lounge Underwear is set to open the doors to its first permanent store next month in Westfield White City.
  After 7 years of trading solely online and scaling the business to £71m, the lingerie retailer will welcome shoppers to its new store from Saturday 7th October.
  According to the company, the store will feature a modern, luxury aesthetic with innovative fitting rooms inside and assistant shopping services that are set to “change the way women shop underwear and apparel”.Sub
  
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• Boss of Morrisons to be replaced by former Carrefour chief

  27-09-2023 15:01
  David Potts steps down after nine years at UK supermarket group with Rami Baitiéh set to take over next month
  
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• Poundland to open first set of former Wilko stores this weekend

  27-09-2023 14:57 via retailgazette.co.uk
  
  Poundland will open its first set of stores inside former Wilko outlets this weekend, just days after they stopped trading.
  The discount chain will unveil 10 newly converted shops in Stafford, Nelson, Barking, Stockport, Eccles, Leigh, Southport, Maidenhead, Jarrow and Scunthorpe on Saturday.
  It comes after the retailer agreed to take on 71 of Wilko’s store leases from administrators PwC earlier this month.
  It said the units would be converted into new Poundland shops, with Wilko team memb
  
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• Morrisons offers shoppers 50% off toys in pre-Christmas sale

  27-09-2023 14:48 via retailgazette.co.uk
  Morrisons has kicked off a toy sale across over 50 products with savings of up to £60, as the grocer looks to help customers spread the cost over the Christmas period.
  Following the release of Greta Gerwig’s Barbie movie earlier this year, Barbie is predicted to be the top toy seller this festive period.With the sale, shoppers will be able to get:57% off the Dream Camper Playset at £60, down from £140
  50% off the Barbie Best Friend Fairy at £15, down from &poun
  
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• Morrisons hires Carrefour France boss as new CEO

  27-09-2023 14:31 via retailgazette.co.uk
  
  Morrisons has hired Carrefour France boss Rami Baitiéh as its new CEO after David Potts stepped down.
  Baitiéh will start in November and will work closely with Potts, who has been at the helm of the grocer for nine years, to ensure a smooth handover period.
  Baitiéh said: “Morrisons holds a special place for shoppers across the UK, and I am honoured to be joining the business to help build on the strong links the company has with its loyal customers and the communities
  
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• Morrisons CEO David Potts to step down as ex-Carrefour France boss takes over

  27-09-2023 13:58
  
  Chief’s exit in November will come about a year after acquisition by US private equity firm CD&RBusiness live – latest updatesDavid Potts, the retailer who steered supermarket chain Morrisons into private equity ownership, is stepping down after nine years as chief executive.He will leave in November, and be succeeded by the former head of the grocery retailer Carrefour France, Rami Baitiéh. Continue reading...
  
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• Clarks pre-tax profits rise but supply issues hit trade

  27-09-2023 12:01 via retailgazette.co.uk
  
  Clarks pre-tax profits more than doubled in its last financial year as Covid impacts lifted, however, growth was hindered by supply chain issues.
  Pre-tax profits for the footwear retailer rocketed 135% to £29.9m in the 48 weeks to 31 December 2022 – up from £12.7m in the 52 weeks ending 29 January 2022.
  However, after tax, profits fell 28% to £22.6m from £31.5m due to an increase in costs related to the Covid 19 pandemic lockdowns.
  Sales slipped 2% from £511.9
  
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• Ethical fashion brand People Tree puts UK arm into liquidation, owing £8.5m

  27-09-2023 09:52
  
  Creditors include UK suppliers, customers and staff, as businesses in Europe and Japan continueThe ethical fashion brand People Tree is putting its UK business into liquidation with debts of more than £8.5m including money owed to suppliers, customers and most of its British workforce.Founded by the former wife and husband team Safia and James Minney,‎ People Tree’s celebrity following included the film star Emma Watson and the model Jo Wood. It became an influential voice in UK
  
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• Avon turns to stores and social as boss admits direct selling ‘isn’t for everybody’

  27-09-2023 09:31 via retailgazette.co.uk
  
  Avon’s European boss has confessed that its door-to-door selling is “not for everybody” as the group shakes up its shopping channels.
  The beauty retailer revealed last week that over 150 of its products would be stocked in 100 Superdrug stores nationwide and online.
  Its partnership with the drugstore chain joins its tie-ups with Amazon and Tiktok as the group looks to appeal to younger shoppers.
  Avon managing director for Western Europe Kristof Neirynck told the Mail: “No
  
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• H&M profits surge despite ‘flattish’ quarterly sales

  27-09-2023 09:00 via retailgazette.co.uk
  
  H&M has posted a bigger than expected rise in quarterly profits despite sales remaining mostly flat as its cost cutting pays off.
  Operating profit for the fashion retailer rocketed to £353m, up from £67m, in the three months to 31 August. This includes a £156m one-off cost relating to the winding down of its Russian operations.
  Net sales for the third quarter inched up 6% to £4.55bn, with the period’s strong start from “pent-up demand for summer garments f
  
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• Amazon & the FTC

  27-09-2023 07:30
  Investors seem to agree with Lina Kahn
  
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• Miniso to open new small format store in central London

  27-09-2023 02:00 via theretailbulletin.com
  
  Lifestyle retailer Miniso will be opening a new London store in the heart of Chinatown. Situated on Shaftesbury Avenue, the shop will be the first Mini... View Article
  
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• Katie Piper & Tesco Mobile team up to raise awareness of digital exclusion

  27-09-2023 02:00 via theretailbulletin.com
  
  Katie Piper OBE, best-selling author, TV presenter and philanthropist, has teamed up with Tesco Mobile to release the first children’s infinite zoom e-book – designed to... View Article
  
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• Green Hub burnishes Lush’s environmental credentials

  27-09-2023 02:00 via theretailbulletin.com
  
  Entering the manufacturing facility of cosmetics brand Lush involves a bombardment of the senses. The sounds of activity, intense aromas, bright colours, and the playfulness of... View Article
  
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• Geek Retreat revenues rise 36% amid strong sales

  27-09-2023 02:00 via theretailbulletin.com
  
  Geek Retreat, the geek culture retailer, gaming café, community hub and events venue, has enjoyed a record August with average monthly store revenues 36% higher than... View Article
  
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• Dune London steps into Manchester Arndale

  27-09-2023 02:00 via theretailbulletin.com
  
  Footwear retailer Dune London is expanding its presence in the North West by taking a 1,596 square foot store at Manchester Arndale. The shop will sell... View Article
  
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• [Comment] Retail apprenticeship contracts: six expensive traps for the unwary

  27-09-2023 02:00 via theretailbulletin.com
  
  Apprenticeships have become a popular way for retailers to train staff and, for those required to pay the Apprenticeship Levy, to get value for money from... View Article
  
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• Chapel Down boosted by record levels of brand awareness

  27-09-2023 02:00 via theretailbulletin.com
  
  Chapel Down has posted a sales uplift of 21% to £8.4 million in the first half of its financial year after achieving record levels of brand... View Article
  
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• Asda launches ‘Behind the Scenes’ taste test challenge with Sky’s Never Mind the Buzzcocks

  27-09-2023 02:00 via theretailbulletin.com
  
  Asda is launching a new campaign to highlight the quality of its food by partnering with Sky TV music quiz series, Never Mind the Buzzcocks. The... View Article
  
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• 7 strategies for attracting new customers to your retail store

  27-09-2023 02:00 via theretailbulletin.com
  
  In 2022, over 50 high street shops closed daily in the UK, which hasn’t come as welcome news to brick-and-mortar businesses. With the rise of online... View Article
  
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• 10 former Wilko stores begin their Poundland journey

  27-09-2023 02:00 via theretailbulletin.com
  
  Former Wilko stores in Stafford, Nelson, Stockport, Eccles, Southport, Maidenhead, Jarrow, Scunthorpe, Barking and Leigh to re-open Saturday 30 September 2023 After announcing it had secured... View Article
  
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• [ ON DEMAND ] Is Emotional Loyalty Worth Investing In?

  27-09-2023 02:00 via theretailbulletin.com
  
  From goods provider to trusted friend: decoding emotional loyalty . Join Comarch as they explore the profound realm of customer loyalty beyond mere discounts. Research reveals... View Article
  
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• John Lewis unveils new Christmas shops across stores nationwide

  27-09-2023 01:01 via retailgazette.co.uk
  
  John Lewis has unveiled its Christmas shops in-stores nationwide, featuring more than 1,000 decorations up for grabs.
  The move comes as demand for festive products has soared since the launch of the John Lewis online shop last month, according to the department store company.
  Sales of Christmas decorations have jumped 25% compared to the same time last year while sales of wreaths have soared 107%.
  Supersized decorations including the store’s new Holiball giant inflatable baubles are set to
  
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