Retail news

• UK food inflation may be gone by Easter, claims boss of major retailer

  07-11-2023 19:01
  
  Upbeat comments by Associated British Foods CEO come as grocery price rises fall to single digits for first time in 18 monthsFood inflation could be all but gone by Easter, according to the owner of Kingsmill bread, Twinings tea and Silver Spoon sugar – as long as there are no further shocks to the global system.George Weston, the chief executive of Associated British Foods (ABF), which also owns the Primark budget clothing chain, said: “Food price inflation hit 20% last year and by
  
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• UK food inflation may be gone by Easter, claims boss of major retail owner

  07-11-2023 19:01
  
  Chief of Associated British Foods’ upbeat comments come as grocery price rises fall to single digits for first time since July 2022Food inflation could be all but gone by Easter, according to the owner of Kingsmill bread, Twinings tea and Silver Spoon sugar – as long as there are no further shocks to the global system.George Weston, the chief executive of Associated British Foods (ABF), which also owns the Primark budget clothing chain, said: “Food price inflation hit 20% last
  
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• In pictures: M&S opens new Birmingham Bullring store

  07-11-2023 17:59 via retailgazette.co.uk
  
  M&S has opened its latest store in the Bullring & Grand Central shopping centres in Birmingham city centre.
  The 65,000 sq ft store offers customers a fresh market-style Foodhall, as well as new clothing, home and beauty departments.The launch comes under the retailer’s plans to invest around £480m in its store rotation programme, following investment in the city’s local economy.
  The store is also the first of nine new shops set to open in November – the biggest ev
  
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• In pictures: M&S launches new Birmingham Bullring store

  07-11-2023 17:59 via retailgazette.co.uk
  
  M&S has opened its latest store in the Bullring & Grand Central shopping centres in Birmingham city centre.
  The 65,000 sq ft store offers customers a fresh market-style Foodhall, as well as new clothing, home and beauty departments.The launch comes under the retailer’s plans to invest around £480m in its store rotation programme, following investment in the city’s local economy.
  The store is also the first of nine new shops set to open in November – the biggest ev
  
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• Watch: John Lewis releases Christmas 2023 ad teaser

  07-11-2023 13:29 via retailgazette.co.uk
  
  John Lewis has released a 10 second teaser of their 2023 Christmas ad, which holds the strapline ‘traditions grow’.
  The short clip shows a young boy sifting through a vintage market who finds a box labelled ‘grow your own perfect Christmas tree’, hinting that this may be the focus of the ad.
  The department store is set to unveil its full advert this Thursday (9 November).Subscribe to Retail Gazette for free
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• Primark owner ABF boosted by inflation-driven higher prices

  07-11-2023 12:43
  UK-based group that also produces Twinings tea bags warns it expects cost pressures to remain
  
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• Watches of Switzerland targets double sales and profits growth

  07-11-2023 12:25 via retailgazette.co.uk
  
  Watches of Switzerland is looking to double its sales and profits in the next five years in a bid to capitalise on the robust demand for luxury watches.
  The retailer is aiming for its sales to surpass the £3bn milestone by the end of its 2028 financial year.
  As part of its growth strategy, the firm will accelerate its store expansion and showroom upgrade programme over the next five years with more targeted acquisitions, such as the 19 branches it bought from Ernest Jones last month.
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• UK grocery inflation falls to single digits for first time in 16 months, data shows

  07-11-2023 12:18
  Kantar’s figures suggest official statistics will be lower when published next week
  
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• Poundland extends fashion offer to over 500 stores and lowers prices

  07-11-2023 11:59 via retailgazette.co.uk
  
  Poundland has brought its family fashion offer to 560 stores across the UK and Ireland, including 56 former Wilko sites.
  The expansion, “powered by” parent company Pepco Group, means Poundland and Irish Dealz shops will stock new ranges from lifestyle and athleisure brands such as Cardio Bunny and Bekkin.
  The retailer said that moving to a range powered by Pepco has enabled it to reduce average selling prices by 10% as it takes advantage of the scale of Pepco Group’s buying pow
  
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• Majestic launches newest small-format store in Crouch End

  07-11-2023 11:47 via retailgazette.co.uk
  
  Majestic Wine has opened doors to its latest small-format store in Crouch End, London.
  The 3,150 sq ft shop is smaller than the average Majestic site but will carry its full range of products.
  The store will offer free wine tastings seven days a week from its in-store Tasting Counter, where shoppers can try a selection of wines before they buy.
  Shoppers at the store can also make use of services including free glass hire for special occasions, next-day delivery and free click-and-collect.
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• UK grocery inflation falls to single digits for first time this year

  07-11-2023 11:26
  
  Butter, dried pasta and milk among items to show drops as supermarket price rises slowBusiness live – latest updatesFood price inflation has dropped to single digits for the first time in a year and a half, as the cost of living crisis eases slightly.Grocery price inflation slowed to 9.7% in the four weeks to 29 October, the first time the rate has dropped to single digits since July 2022, according to the data company Kantar. Continue reading...
  
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• UK grocery inflation falls to single digits for first time in 16 months

  07-11-2023 09:28 via retailgazette.co.uk
  
  Grocery price inflation has fallen to single digits for the first time in 16 months, providing some relief for consumers as the key Christmas shopping period nears.
  Prices across grocers were 9.7% higher than a year ago over the four weeks to October 29, down from the previous month’s 11%, Kantar analysts said.
  It is the eighth consecutive decline in the rate of price rises since the figure peaked at 17.5% in March, and the first time the figure has fallen below 10% since July last year.Su
  
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• Data: UK retail sales growth slows as shoppers delay Christmas spend

  07-11-2023 09:14 via retailgazette.co.uk
  
  UK retail sales growth slowed to an annual rate of 2.5% in October, according to fresh figures from the British Retail Consortium and KPMG, as milder weather and deal-hunting ahead of Christmas delayed seasonal spending.
  The BRC-KPMG Retail Sales Monitor showed growth slipped from 2.7% in September, and 4.1% in August.
  This was well below the three-month average of 3.1% and the 12-month average of 4.2%
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• Naked Wines CEO exits immediately as it lowers guidance amid ‘weak’ demand

  07-11-2023 08:56 via retailgazette.co.uk
  
  Naked Wines has reduced its full-year guidance as it called trading in the US market “weaker than anticipated” seeing a 20% year-on-year dip.
  Firm-wide sales at the AIM-listed wine-subscription retailer slipped 17% despite the UK and Australian markets performing in line with expectations.
  Full-year sales for 2024 are now expected to decline between 12% and 16% year on year, with underlying earnings expected to close between £2m and £6m (previous guidance was between
  
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• Primark heralds ‘excellent’ trading as shoppers shrug off price rises

  07-11-2023 08:44 via retailgazette.co.uk
  
  Primark owner ABF heralded an “excellent” trading at the value chain as it eyes greater profits in the year ahead.Sales rose 17% to £9bn over the year to 16 September, up 8.5% on a like-for-like basis, which it said had exceeded its expectations.
  Although adjusted profit margin dipped to 8.2% as the business implemented “selective price increases” to protect profitability, shoppers continued to “shop with us enthusiastically”, the business said.
  It said
  
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• Primark drives strong growth for owner AB Foods as profits rise

  07-11-2023 08:44 via retailgazette.co.uk
  
  Primark owner Associated British Foods Plc said profit will rise at the value fashion chain as lower raw material and freight costs boosted its performance.
  The British conglomerate reported a 5% increase in annual profit and forecast “meaningful progress” in its 2023/24 financial year.
  Primark’s adjusted operating profit margin is set to exceed 10% this year, with further improvement depending on levels of consumer demand, owner AB Foods said.
  “Whilst the environment is
  
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• Shein mulls Topshop bid to bolster its fashion credentials

  07-11-2023 08:32 via retailgazette.co.uk
  
  Ultra-fast fashion giant Shein has formally registered its interest in making an offer with Asos for the Topshop brand.
  If successful, it would mark Shein’s second acquisition of a British fashion brand after it bought Missguided and intellectual property rights from Frasers Group last week for an undisclosed sum.
  Asos snapped up Topshop for £330m back in 2021 from Sir Philip Green’s collapsed Arcadia retail empire.Subscribe to Retail Gazette for free
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• Shein mulls Topshop bid

  07-11-2023 08:32 via retailgazette.co.uk
  
  Shein has formally registered its interest in making an offer for Topshop.
  It comes on the back of Shein’s acquisition of Missguided and intellectual property rights from Frasers Group last week for an undisclosed sum.
  Asos snapped up Topshop for £330m back in 2021 from Sir Philip Green’s collapsed Arcadia retail empire.
  It emerged late last month that Asos was considering selling Topshop as it looks to shore up its balance sheet after it posted a near-£300m los
  
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• UK retail spending growth drops in run-up to Christmas

  07-11-2023 01:23
  Data from British Retail Consortium points to household caution ahead of busiest shopping season
  
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• UK recession fears grow as shoppers cut spending ‘to save for Christmas’

  07-11-2023 01:01
  
  Drop in retail sales also because of consumer worries over high energy bills and mortgages, surveys suggestFears that the UK is heading for a recession this winter have intensified amid signs Britain’s hard-pressed households are cutting spending as they save for Christmas and higher fuel bills.Two monthly snapshots of retail activity found shops and online outlets struggling because of consumer budgets being squeezed by dearer mortgages and the UK’s lingering cost of living crisis.
  
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• Watches of Switzerland reports second quarter sales increase

  07-11-2023 01:00 via theretailbulletin.com
  
  Watches of Switzerland Group has posted a 5% increase in second quarter revenue to £379 million at constant currency after it benefited from continued demand for... View Article
  
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• Primark posts surge in sales and profit

  07-11-2023 01:00 via theretailbulletin.com
  
  Primark has seen an improvement in full year revenue and profit following substantial sales growth in the UK, US and Europe. In the year to 16... View Article
  
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• Poundland completes transition to new clothing ranges powered by Pepco

  07-11-2023 01:00 via theretailbulletin.com
  
  Poundland has completed its transition to new clothing ranges as it begins to take advantage of its parent company Pepco Group’s buying power. This means the... View Article
  
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• Pizza Express announces retail expansion with new frozen range

  07-11-2023 01:00 via theretailbulletin.com
  
  Pizza Express has introduced a range of frozen pizzas, pastas and garlic bread as it further establishes itself as dine-in, dine out and retail business. The... View Article
  
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• Independent retailers welcome commitment to keeping communities safe in King’s speech

  07-11-2023 01:00 via theretailbulletin.com
  
  The Federation of Independent Retailers (the Fed) has vowed to keep up the pressure on the government to provide grants to improve security in smaller shops.... View Article
  
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• England striker Ollie Watkins invests in The Edit LDN

  07-11-2023 01:00 via theretailbulletin.com
  
  The Edit LDN has attracted investment from footballer Ollie Watkins as part of a current £5 million funding round. Together with sports presenter Josh Denzel, the... View Article
  
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• Consumers turn to gift cards as budgets cut ahead of another cost of living Christmas

  07-11-2023 01:00 via theretailbulletin.com
  
  With the countdown to Christmas underway, new research from the Gift Card and Voucher Association (GCVA) reveals that shoppers plan to rein in gifting budgets amidst... View Article
  
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