Retail news

• Amazon reports robust sales while cloud growth remains steady

  26-10-2023 22:44
  Ecommerce group’s shares nudge up after quarterly earnings
  
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• Former Aldi boss hired as Tesco UK CEO as Tarry stands down

  26-10-2023 15:36 via retailgazette.co.uk
  
  Tesco has hired former Aldi boss Matthew Barnes as its new UK chief executive as Jason Tarry steps down from the business after 33 years.
  Tarry, who has spent the last six years at the supermarket’s helm, will leave the grocer in March 2024.
  He is credited with leading Tesco through its turnaround and rebuilding the supermarket’s competitiveness in the UK market, against the backdrop of the pandemic.Subscribe to Retail Gazette for free
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• Breaking: Former Aldi boss hired as Tesco UK CEO as Tarry stands down

  26-10-2023 15:36 via retailgazette.co.uk
  
  Tesco has hired former Aldi boss Matthew Barnes as its new UK chief executive as Jason Tarry steps down from the business after 33 years.
  Tarry, who has spent the last six years at the supermarket’s helm, will leave the grocer in March 2024.
  He is credited with leading Tesco through its turnaround and rebuilding the supermarket’s competitiveness in the UK market, against the backdrop of the pandemic.Subscribe to Retail Gazette for free
  Sign up here to get the latest news st
  
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• Free Whitepaper: From Source to Consume

  26-10-2023 11:30 via retailgazette.co.uk
  
  If the past few years have shown us anything, it’s that supply chain resiliency and sustainability are no longer a nice-to-have, but a necessity.
  Yet, so many brands and retailers have no idea where to begin.
  K3’s latest whitepaper provides valuable insights and practical strategies that can help your business thrive in today’s fast-paced and competitive climate.
  Crucially, by reading the whitepaper, you’ll be equipped with the necessary knowledge that allows you to buil
  
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• Zara owner Inditex signs three year recycled polyester deal

  26-10-2023 10:00 via retailgazette.co.uk
  
  Zara-owner Inditex has signed a three-year agreement with a US-based material science company Ambercycle to buy its recycled polyester, in a deal worth over £61.1m.
  As part of a three-year agreement, the fashion giant will buy a significant portion of Ambercycle’s annual production of Cycora, a material made from post-industrial and post-consumer polyester waste.
  Inditex said the move will support the construction of Ambercycle’s first commercial-scale textile regeneration fact
  
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• The Very Group profits slump amid soaring costs

  26-10-2023 09:58 via retailgazette.co.uk
  
  The Very Group profits plummeted 92% over the year, dragged down by a surge in operating costs.
  The group, which operates Very and Littlewoods, posted a pre-tax profit of £4.6m in the 52 weeks to 1 July 2023, down from £63.9m.
  It attributed the sharp drop to the “heightened cost of funding to the company”, which rocketed 43.5% during the year as a result of the persistently high interest rates.
  Group sales were broadly flat at £2.15bn, but were ahead of the rest of
  
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• Majestic ramps up store expansion with two new openings this week

  26-10-2023 09:33 via retailgazette.co.uk
  
  Majestic has ramped up its bricks-and-mortar expansion plans as it opens two new stores this week.
  The wine retailer unveiled its 4,775sq ft store in Chippenham on Tuesday and will open the doors to its 6,275sq ft space in Monmouth, Wales today (Thursday).
  This is the first time the retailer has opened two new stores in the same week for a decade, which it said “underlines our ongoing commitment to physical, experiential retail”.
  Majestic will open its smaller format in London&r
  
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• Majestic ramps up store expansion plans with two new openings

  26-10-2023 09:33 via retailgazette.co.uk
  
  Majestic has ramped up its bricks-and-mortar expansion plans following the opening of two new stores this week.
  The wine retailer unveiled its 4,775sq ft store in Chippenham on Tuesday and will open the doors to its 6,275sq ft space in Monmouth, Wales today (Thursday).
  This is the first time the retailer has opened two new stores in the same week for a decade, which it said “underlines our ongoing commitment to physical, experiential retail”.
  Majestic will open its smaller forma
  
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• Casino slashes profit forecast after French market disappoints

  26-10-2023 09:10
  Troubled French supermarket group hobbled by falling sales and rising debt
  
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• Frasers Group tops up Asos shares

  26-10-2023 08:59 via retailgazette.co.uk
  
  Frasers Group has topped up its shares in Asos for the third time this month.
  Mike Ashley’s retail group raised its shareholding in Asos to 12.6%, building on top of last week’s raise to 10.7%.
  It comes the same week as Frasers continues to build on its “strategic investment” into Asos rival Boohoo.
  The group – which is the largest shareholder in the online business – increased its holdings from 15.1% to 16.5%.Subscribe to Retail Gazette for free
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• Boohoo faces £100m lawsuit over modern slavery breaches

  26-10-2023 08:34 via retailgazette.co.uk
  
  Boohoo is facing a £100m lawsuit from some of its investors after allegations of modern slavery wiped over £1bn from the business’ value.
  The fashion retailer is being targeted by City lawyers looking for compensation for the group’s shareholders who suffered steep losses following claims of forced labour in Boohoo’s UK factories, The Telegraph reported.
  The allegations were first reported by The Sunday Times in 2020 before verified in an independent review by barri
  
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• Over 70% of consumers to shop more with greener retailers

  26-10-2023 05:00 via retailgazette.co.uk
  
  Some 76% of consumers say they intend to shop more with retailers that offer environmentally friendly products and services.
  According to the survey conducted by ReBound and Pollfish, 73% of consumers are willing to pay extra for their returns to be environmentally friendly, but flexibility and convenience is still the number one priority.
  Some 74% of customers said they would use a postal service to donate unwanted clothing to charity if it was offered by a retailer.
  Read more about the consume
  
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• Zara owner signs three year recycled polyester deal

  26-10-2023 02:00 via theretailbulletin.com
  
  Zara owner Inditex has teamed up with Ambercycle, a US based material science company, to help scale textile to textile recycled polyester. As part of a... View Article
  
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• Superdrug launches new VIP Rewards loyalty scheme

  26-10-2023 02:00 via theretailbulletin.com
  
  Superdrug has launched a new loyalty scheme to enable customers to access a host of new offers and deals. The new VIP Rewards programme will automatically... View Article
  
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• Majestic opens two stores in a week for first time in a decade

  26-10-2023 02:00 via theretailbulletin.com
  
  Majestic is opening two new stores in the same week for the first time in a decade as it continues its investment in physical retail. The... View Article
  
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• Lakeland introduces new measures to improve staff wellbeing thanks to Retail Trust partnership

  26-10-2023 02:00 via theretailbulletin.com
  
  Kitchenware and homeware retailer Lakeland has begun working with retail industry charity the Retail Trust to protect the wellbeing of its 1,300 members of staff. They... View Article
  
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• Hugo Boss and The Perfume Shop Partner for Men’s Mental Health Month

  26-10-2023 02:00 via theretailbulletin.com
  
  In the lead up to Men’s Mental Health Month, The Perfume Shop, will partner with Hugo Boss and charity ANDYSMANCLUB, as part of a ‘Don’t Bottle... View Article
  
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• Breaking: Tesco UK CEO Jason Tarry to step down after 33-year career

  26-10-2023 02:00 via theretailbulletin.com
  
  Matthew Barnes appointed as new UK CEO from March 2024 Tesco is announcing today that after an exceptional career at Tesco of more than 33 years,... View Article
  
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• Asos delays publication of annual results

  26-10-2023 02:00 via theretailbulletin.com
  
  Online fashion retailer Asos has postponed the publication of its annual results by one week to 1 November due to its auditor needing more time. The... View Article
  
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• Data: The retailers achieving the biggest profit growth

  26-10-2023 01:01 via retailgazette.co.uk
  
  Retailers including American Golf, Yours and Waterstones have been named in the E2E Profit 100 Track, in association with The Independent, which identifies the firms with the greatest profit growth.
  The Profit 100 track is based on percentage operating profit growth over company’s two most recent filing periods.
  American Golf topped the list of retailers, pulling in a whopping 723% operating growth.
  It was followed by fashion retailer Yours, which achieved an impressive 451%.
  Waterstones f
  
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