Retail news

• Sandwich price shocks but meal deal costs rise less than average food inflation

  29-09-2023 23:56
  
  Pret a Manger’s ‘posh’ cheese and pickle sandwich grabbed headlines for its £7.15 price tag, but it’s not all gloomIt’s not often that a cheese and pickle sandwich turns heads, but this week Pret a Manger’s “posh” version grabbed headlines after a tweet decrying its £7.15 price tag went viral.Although that included VAT for eating in, the social media post shone a spotlight on the rising cost of lunch on the go, as the soaring cost of in
  
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• What Lina Khan’s antitrust case could mean for Amazon

  29-09-2023 20:25
  The FTC chair alleges the ecommerce giant illegally uses its monopoly power to overcharge consumers and hobble competitors. But will she prevail?
  
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• Investors’ Chronicle: Next 15, Phoenix Group, Card Factory

  29-09-2023 19:00
  Companies analysis from our sister publication
  
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• Directors’ Deals: Mike Ashley explores his options

  29-09-2023 19:00
  Sports Direct founder bets on Frasers’ share price
  
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• Wilko owed £625m when it collapsed, leaving pension fund £50m short

  29-09-2023 18:44
  
  Retailer’s unsecured creditors, who include suppliers, will recoup less than 8% of what they are owedWilko owed £625m when it collapsed, including £548m to unsecured creditors who will receive less than 8% of what they are owed, documents reveal.The budget homeware retailer’s pension fund is left more than £50m in deficit and is unlikely to receive more than £4m back from the breakup of the company, which called in the administrators PwC in August. Continue re
  
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• Asda issued £2.1bn dividend to Issa brothers after takeover despite 80% profits slump

  29-09-2023 16:18 via retailgazette.co.uk
  
  Asda issued a £2.1bn dividend to its owners after they purchased the company, according to accounts published today.
  The grocer declared the dividend to EG Group, owned by the Issa brothers, in September 2022 despite over an 80% plunge in pre-tax profits last year.
  The dividend contributed to around a £1.8bn drop in the supermarket’s assets and helped its owners manage their debts.
  Earlier this month, the parent company revealed it was able to reduce debts by 41% via the sale o
  
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• Asda issued £2.1bn dividend last year

  29-09-2023 16:18 via retailgazette.co.uk
  
  Asda issued a £2.1bn dividend last year to help their private equity owners juggle their debts, according to accounts published today.
  The supermarket clarified that the dividend was paid to parent company Bellis Finco, owned by the Issa brothers and private equity firm TDR Capital, in September last year to “settle intercompany balances”.
  The dividend contributed to around a £1.8bn drop in Asda’s assets.
  Earlier this month, EG Group, also owned by the Issas and TDR
  
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• H&M eyes smaller stores and considers returning to former locations

  29-09-2023 15:17 via retailgazette.co.uk
  
  H&M is eyeing up various small-format stores in cities throughout the UK.
  According to Drapers, property sources revealed the fashion giant was considering opening shops of around 8,000 sq ft, compared to its typical stores which stand at over 20,000 sq ft.
  The move could mean H&M returning to areas where it closed in recent years.
  Since the start of the Covid pandemic, the retailer has shut over 56 shops in locations including Hartlepool, Burton and Maidenhead in efforts to reduce
  
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• The price of shoplifting is getting dangerously high

  29-09-2023 14:51
  Retailers placing goods on open display is an everyday miracle that could turn into a perk of the privileged
  
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• Nike misses expectations for first time in two years

  29-09-2023 14:08 via retailgazette.co.uk
  
  Nike missed analyst expectations for the first time in two years as revenues rose 2% year on year to £10.5bn for its first quarter to 31 August 2023, driven by a 6% increase in Nike Direct revenues.
  The sportswear giant’s boost was mainly driven by currency-neutral growth in Europe, the Middle East, and Africa, Greater China, and Asia-Pacific and Latin America, despite a decline in North American sales.
  Revenues for the Nike brand were $12.4bn, up 3% year-on-year while Converse sales
  
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• Roundtable: How retailers can generate an ROI from AI

  29-09-2023 13:30 via retailgazette.co.uk
  
  Retailers would benefit from more technology to help improve inventory management processes, labour scheduling, and general store operations, and artificial intelligence (AI) could be deployed for each of those needs, as well as being used for trend spotting that can aid wider business planning.
  These were the key findings at a Retail Gazette roundtable which took place at Haymarket Hotel on 13 September.
  The breakfast event ran in association with SolvedBy.AI, a company offering multiple soluti
  
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• Urban Outfitters opens BDG pop up with Denim Swap Shop

  29-09-2023 12:55 via retailgazette.co.uk
  
  Urban Outfitters has opened its first ever stand-alone denim retail space in the form of a brand-new pop-up store, BDG Jeans by Urban Outfitters.
  The 275 sq ft store which opened on September 29th at King’s Road Chelsea has been transformed into ‘a true Urban Outfitters space’ that highlights the brand’s full denim range and key items from the BDG AW23 collection.
  To celebrate the launch, the fashion retailer is offering customers the opportunity to swap any pair of old j
  
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• In pictures: Miniso opens smaller ‘Mini Miniso’ store in London’s Chinatown amid rapid UK expansion

  29-09-2023 11:46 via retailgazette.co.uk
  
  Miniso is set to open the doors to its smallest ever concept store in the UK later today.
  The Chinese giant, which has around 5,791 stores in over 100 countries, is gearing up for a rapid expansion across the UK with several new stores set to open later this year to cater to its strong cult following.
  The smaller concept, dubbed Mini Miniso, is 40sqm and is located on Shaftesbury Avenue in London’s Chinatown.
  It sells a curated edit of the retailer’s best sellers, including its plush
  
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• AllSaints unveils new store format as it accelerates digital transformation

  29-09-2023 10:57 via retailgazette.co.uk
  
  AllSaints is rolling out a new store concept globally as it looks to bolster its international store portfolio.
  According to Retail Week, the new store format comes as the fashion retailer’s looks to make its stores “lighter” and “more feminine” while still retaining its industrial brand DNA.
  The business said the new format features new colours across its interior, the reintroduction of its AllSaints turbo sign and new wall designs to hold its non-apparel collecti
  
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• Temu maintains five-month streak as UK’s top shopping app

  29-09-2023 10:49 via retailgazette.co.uk
  
  The American-based shopping app Temu has maintained a five-month streak as the number one shopping app by downloads in the UK, according to data insight platform data.ai.
  Figures from 16th September revealed the app had been downloaded roughly 7.64m times in the UK, according to the app analytics company.
  Last month, Temu became the fifth shopping app by number of monthly active users in the UK, rising to the third spot in September and overtaking competitor ecommerce giant Shein.
  Temu
  
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• Data: Temu maintains five-month streak as UK’s top shopping app

  29-09-2023 10:49 via retailgazette.co.uk
  
  The American-based shopping app Temu has maintained a five-month streak as the number one shopping app by downloads in the UK, according to data insight platform data.ai.
  Figures from 16th September revealed the app had been downloaded roughly 7.64m times in the UK, according to the app analytics company.
  Last month, Temu became the fifth shopping app by number of monthly active users in the UK, rising to the third spot in September and overtaking competitor ecommerce giant Shein.
  Temu
  
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• TikTok viral running brand Hoka to open first UK store in Covent Garden

  29-09-2023 10:37 via retailgazette.co.uk
  
  French running and activewear brand Hoka is set to open the doors to its first store in the UK next week in London’s Covent Garden, Drapers reports.
  The French retailer’s new 2,648 sq ft London flagship will be located at 2-3 James Street in Covent Garden, taking on the unit previously occupied by Karen Millen.
  The site will be the first UK standalone store for Hoka, which already has six stores in the US, one in Canada and three in Japan.
  Hoka’s retail prices range from &poun
  
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• Revolution Beauty faces shareholder revolt over CFO re-election

  29-09-2023 10:14 via retailgazette.co.uk
  
  Revolution Beauty has faced another revolt after 30% of shareholders voted against the re-election of chief financial officer Elizabeth Lake at its AGM.
  The beauty group said: “The board notes the significant votes received against [Lake’s re-election].
  “Whilst the directors are disappointed that shareholders have chosen to vote in this way, the chairman will be happy to engage with the key shareholders on these issues going forward.”Subscribe to Retail Gazette for free
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• Pret A Manger defends price rises amid profiteering claims

  29-09-2023 09:19 via retailgazette.co.uk
  
  Pret a Manger has defended its recent price rises following claims that the business had been profiteering from the ongoing cost-of-living crisis.
  The chain has been accused by several publications, including The Times and The Sun, of inflating prices ahead of market inflation.
  Speaking at a lunch trade show in London on Wednesday, Pret shops and franchise director Guy Meakin said the business had always been “transparent” on price rises and given notice to customers.
  “It&rsquo
  
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• Wilko unsecured creditors face huge losses following collapse

  29-09-2023 08:58 via retailgazette.co.uk
  
  Wilko’s unsecured creditors are set to receive as little as 4p in the pound of the money they are owed, according to first estimates by administrators PwC.
  The retailer’s creditors have been informed that they were likely to recover between 4% and 8% of their debts, Sky News reported.
  The Pension Protection Fund (PPF) is expected to be repaid the full £20m it is owed as a secured creditor, though it is also owed millions of pounds more as an unsecured creditor, the PwC document
  
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• Frasers Group, Primark and TK Maxx eye up former Wilko stores

  29-09-2023 08:26 via retailgazette.co.uk
  
  Frasers Group, Primark and TK Maxx are among the retailers scouting former Wilko outlets for new stores.
  According to Drapers, Mike Ashley’s retail empire is in discussions with landlords about several ex-Wilko properties for its Sports Direct fascias, with a particular interest on retail park locations.
  Primark is understood to be exploring multiple sites belonging to the collapsed retailer with a focus on high streets, which sources tole the publication could help the retailer test small
  
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• Wrangler launches new collection with Barbie

  29-09-2023 02:00 via theretailbulletin.com
  
  Denim brand Wrangler has collaborated with Mattel on a new Wrangler x Barbie collection. Aiming to capture the playful style of Barbie and quintessential western design... View Article
  
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• Under Armour to open first Northern Ireland store at The Boulevard

  29-09-2023 02:00 via theretailbulletin.com
  
  Sportswear brand Under Armour is to open its first physical store in Northern Ireland as part of plans to expand within Europe, the Middle East, and... View Article
  
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• Sainsbury’s introduces paper packaging for own-brand toilet and kitchen rolls

  29-09-2023 02:00 via theretailbulletin.com
  
  Sainsbury’s has switched from plastic to paper for its own-brand toilet paper and kitchen towel packaging. The supermarket said the move will save 485 tonnes of... View Article
  
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• Majestic celebrates significant milestone for Diversity in Wine Scholarship

  29-09-2023 02:00 via theretailbulletin.com
  
  Majestic has reached a significant milestone in its drive to improve diversity and inclusion in the wine industry. The company has announced that it has now... View Article
  
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• Episode 2: Cracking the code – Employee engagement vs. Employee experience

  29-09-2023 02:00 via theretailbulletin.com
  
  Today, we’re untangling a topic that might sound like a tongue twister at first glance—employee engagement versus employee experience. It’s like deciphering two sides of the... View Article
  
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• Asda introduces new commercial operating model

  29-09-2023 02:00 via theretailbulletin.com
  
  Asda is introducing a new operating model for its commercial function at its Leeds head office as it works to reach its long-term goal of becoming... View Article
  
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• Who is new Morrisons CEO Rami Baitiéh?

  29-09-2023 01:42 via retailgazette.co.uk
  
  Morrisons hired former Carrefour France boss Rami Baitiéh as its new CEO, as David Potts exits the retailer after nine years.
  Baitiéh, who is due to step up to the plate in November, certainly seems to have strong credentials, having spent more than 20 years at French grocery giant Carrefour.
  But who is Rami Baitiéh and is he the right fit for Morrisons?
  A leader that gets results
  Senior adviser at Morrisons owner CD&R Sir Terry Leahy describes Baitiéh as an &ldqu
  
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