Retail news

• Tesco: steady Murphy has room for more surprises in store

  04-10-2023 17:00
  Cost pressures persist but even so, the British supermarket group looks good value
  
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• Tesco buys more turkeys as it plans for bumper Christmas

  04-10-2023 16:50 via retailgazette.co.uk
  
  Tesco has bought in more turkeys this Christmas on the back of rising customer sentiment ahead of the festive period.
  The grocery giant, which raised its profit outlook this morning on the back of soaring first half sales and profits, said its customers are feeling “more optimistic” than they were last year.
  Murphy said: “I  think people are determined to enjoy Christmas this year. We’re buying up on turkeys because we believe that people will want to celebrate more
  
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• Superdry sells South Asian licences in deal with India’s Reliance

  04-10-2023 16:12
  UK fashion retailer signs partnership with Indian conglomerate in India, Sri Lanka, and Bangladesh
  
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• Superdry sells south Asian intellectual property in deal with India’s Reliance

  04-10-2023 16:12
  UK fashion retailer signs partnership with conglomerate for brand assets in India, Sri Lanka and Bangladesh
  
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• Asda signs multi-year partnership to accelerate digital transformation

  04-10-2023 11:45 via retailgazette.co.uk
  
  Asda has signed a multi-year partnership with IT specialist Tata Consultancy Services (TCS) to help fuel its digital transformation.
  TCS will implement a new organisation-wide IT operating model following the supermarket’s divestiture from Walmart.
  The IT specialists will build a new digital core by implementing multiple cloud-based resource planning platforms to streamline Asda’s supply chain forecasting, buying and merchandising processes, HR processes, warehouse management and eco
  
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• Topps Tiles posts record sales despite ‘slowing’ housing market

  04-10-2023 11:00 via retailgazette.co.uk
  
  Topps Tiles has posted its third consecutive year of record turnover as revenue rose 6.4% year-on-year to £263m.In the 52 weeks to 30 September, the retailer’s like-for-like sales increased 3.1%, as average sales per store jumped 30% on pre-pandemic levels, with its profit forecast set to be in line with market expectations.
  As a result, Topps Tiles now expects its market share to increase significantly in its full year results as it “moves rapidly” towards an early
  
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• American candy shop numbers fall amid crackdown

  04-10-2023 10:47 via retailgazette.co.uk
  
  The number of American candy and souvenir shops along Oxford Street has dropped from a peak of 29 to 21 following a crackdown by Westminster City Council.
  A new report by the council’s overview and scrutiny committee indicate that its enforcement action is beginning to take effect.
  “We have ramped up the pressure on Candy stores, souvenir and vape shops, to make clear the status quo is not acceptable,” it said.
  “Following multiple attempts to engage with each freeholder a
  
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• Wilko: B&M and Poundland rescue deals at risk as rivals renegotiate leases

  04-10-2023 09:55 via retailgazette.co.uk
  
  Proposed rescue deals between Poundland and B&M to acquire more than 100 former Wilko outlets could fall through as the discount retailers try to negotiate more favourable terms with landlords.
  B&M, which agreed to take on 51 of the collapsed retailer’s sites, has been accused of delaying completion in an attempt to set up new rent and lease arrangement with move favourable terms, The Times reported.
  Poundland is also said to be renegotiating with landlords to line up back-to-back
  
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• Superdry to sell South Asian IP to Indian giant Reliance for £40m

  04-10-2023 09:28 via retailgazette.co.uk
  
  Superdry has signed a joint venture agreement with India’s biggest retailer Reliance Brands Holding for the sale of its intellectual property assets in India, Sri Lanka and Bangladesh in a £40m deal.City sources told Sky News a deal could be announced as early as Wednesday morning.
  Reliance Brands is already the fashion retailer’s retail partner in India, operating dozens of stores.Subscribe to Retail Gazette for free
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• Waitrose debuts first campaign with Saatchi & Saatchi

  04-10-2023 09:13 via retailgazette.co.uk
  
  Waitrose and Saatchi & Saatchi have launched a new marketing campaign for the premium grocer’s new Japan Menyū range.
  The campaign has been built on its brand promise of ‘Food to Feel Good About’, and puts the retailer’s quality and great tasting products at the heart of the creative, showcasing how the new range caters for customers and their busy lives.
  One of the ads highlights that the Japan Menyū range is ‘Good for a midweek quickie’, while
  
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• Ocado slashes prices on over 500 products

  04-10-2023 09:04 via retailgazette.co.uk
  
  Ocado has dropped the prices on over 500 items, including autumn and winter favourites as part of its ‘Big Price Drop’ initiative.
  The online grocer said it has dropped prices on these items by an average of 8% and comes as food prices have fallen for the first time in two years.
  It is the retailer’s fourth round of price cuts since June, taking its total number of price reductions to more than 1,000.Products in the latest round of cuts include fresh, ambient and household pro
  
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• Tesco raises profit forecast for the year

  04-10-2023 08:50
  UK’s largest supermarket group posts jump in pre-tax earnings
  
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• Tesco raises annual profit forecast

  04-10-2023 08:50
  UK’s largest supermarket group cuts prices and says food price inflation will keep falling
  
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• Tesco says food inflation falling as it cuts price on 2,500 items

  04-10-2023 08:45 via theguardian.com
  
  Average 12% reduction comes as more affordable own-brand products introduced in Express storesTesco says food inflation has fallen in the past six months, with the grocer cutting prices on 2,500 products, including bread and broccoli, by an average of 12%.The supermarket also revealed a 14% rise in adjusted operating profit and said it expected the pace of prices rises to continue slowing for the rest of the year. Continue reading...
  
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• Tesco raises profit forecast after strong first half

  04-10-2023 08:29 via retailgazette.co.uk
  
  Tesco has seen sales and profits jump in its first half as it expects food inflation to continue to fall.
  The grocer has hiked its profit guidance for the year to £2.6bn and £2.7bn, from its original forecase of £2.5bn.
  The grocery giant’s like-for-likes advanced 7.8% – and 8.7% in the UK – in the half to 26 August as adjusted operating profit jumped 13.9% to £1.48bn. Total sales hit £30.75bn.
  Tesco chief executive Ken Murphy said: &ldquo
  
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• Tesco posts strong sales driven by ‘relentless’ focus on value

  04-10-2023 08:29 via retailgazette.co.uk
  
  Tesco has seen a 7.8% increase in like-for-like sales in the first half of its financial year, as it committed to continuing keeping food prices as low as possible for shoppers amid the current cost of living.
  Like-for-like sales at the supermarket giant’s UK & ROI business rose 8.4%, with the UK up 8.7% and Republic of Ireland up 6.9%.
  On a reported basis, sales rose 8.4% at constant exchange rates to £30.75bn in the period, while adjusted operating profit was up 13.9% to £
  
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• Topps Tiles posts third consecutive year of record turnover

  04-10-2023 02:00 via theretailbulletin.com
  
  Topps Tiles has posted its third consecutive year of record turnover after revenue increased by 6.4% year-on-year to £263 million. In the 52 weeks to 30... View Article
  
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• Tesco raises full year profit guidance after price cuts boost sales

  04-10-2023 02:00 via theretailbulletin.com
  
  Tesco has raised its profit guidance for its full year after achieving strong first-half sales growth. In the six months to 26 August, revenues increased by... View Article
  
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• Superdry sells South Asia IP assets to India’s Reliance Retail

  04-10-2023 02:00 via theretailbulletin.com
  
  Superdry has signed a joint venture agreement with Reliance Brands Holding UK for the sale of its intellectual property assets in three South Asian countries. As... View Article
  
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• Superdrug to open new store in Stoke-on-Trent

  04-10-2023 02:00 via theretailbulletin.com
  
  Health and beauty retailer Superdrug is to open a new store at Stoke-on-Trent’s Festival Retail Park. Spanning 7,300 square feet, the shop will stock a range... View Article
  
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• Regatta Great Outdoors join ‘Brands at M&S’

  04-10-2023 02:00 via theretailbulletin.com
  
  Outdoor brand, Regatta Great Outdoors, has partnered with multinational retailer Marks & Spencer (M&S) as it becomes the latest brand to join M&S’ ‘Brands at M&S’... View Article
  
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• Lightspeed Launches UK First: A Real-Time Data Solution to Reduce Waste, Boost Customer Loyalty and Retain Staff

  04-10-2023 02:00 via theretailbulletin.com
  
  Lightspeed’s ePOS solution, Advanced Insights, uses payment technology to collect and analyse complex data to deliver actionable insights to hospitality businesses, set to help restaurants capitalise... View Article
  
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• H&M collaborates with Rabanne

  04-10-2023 02:00 via theretailbulletin.com
  
  H&M has embarked on a new fashion collaboration with renowned fashion house Rabanne. Founded by the late Paco Rabanne who was known for his era-defining 1960s... View Article
  
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• Greggs sales boosted by growth in evening trading

  04-10-2023 02:00 via theretailbulletin.com
  
  Greggs enjoyed continued strong trading in its third quarter with total sales up 20.8% compared to the same period last year. Like-for-like sales in company-managed shops rose by... View Article
  
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• [Breaking news] Supreme Court ruling on holiday pay and the implications for Retail

  04-10-2023 02:00 via theretailbulletin.com
  
  The Supreme Court in Chief Constable of the Police Service of NI and others v Agnew has ruled that all employers, including those in the retail sector, can’t... View Article
  
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• Boohoo posts drop in sales

  04-10-2023 02:00 via theretailbulletin.com
  
  Boohoo has posted a first-half drop in sales as the group works towards delivering more profitable sales. In the six months to 31 August, revenue declined... View Article
  
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