Retail news

• Macy’s turnaround plan won’t recapture the old magic

  28-02-2024 22:00 via ft.com
  US retailer’s central problem is the products it sells and the environments in which it sells them fail to appeal
  
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• Family Dollar ordered to pay over $40m for rodent-infested Arkansas warehouse

  28-02-2024 20:16
  
  Company pleads guilty to using distribution center where FDA discovered ‘decaying rodents, rodent feces, urine, and odors’Family Dollar Stores has been ordered to pay $41.675m – the largest criminal penalty in a food safety case – after getting caught using a rodent-infested warehouse to distribute food, cosmetic and medical device products to more than 400 stores in the US.After conducting an investigation, the US Food and Drug Administration (FDA) discovered “live
  
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• The Perfume Shop unveils experiential store at Rushmere Shopping Centre with a focus on sustainability

  28-02-2024 18:21 via theretailbulletin.com
  
  In an exciting development for fragrance aficionados, The Perfume Shop has recently opened its doors to a new and improved experiential store located at the Rushmere... View Article
  
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• VIVERE Partners with Refuge for International Women’s Day 2024

  28-02-2024 18:05 via theretailbulletin.com
  
  In a significant move to honour International Women’s Day 2024, the British womenswear brand VIVERE has announced a heartening collaboration with the UK-based charity Refuge. This... View Article
  
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• John Lewis redundancies are paving way for ‘better quality jobs’, says director

  28-02-2024 16:24 via retailgazette.co.uk
  
  John Lewis Partnership’s operations director has said the business is creating “better quality jobs”, despite plans to reduce its headcount by 11,000 in the next five years.
  Naomi Simcock said the retailer’s investment into driving efficiencies across certain areas of the business had allowed it to create more purposeful roles.
  Speaking at the Smart Retail Tech Expo this week, she said: “I was in one of our supply chain depots where we’re rolling out robots at
  
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• Morrisons overhauls senior leadership team as it shapes up for ‘next chapter’

  28-02-2024 13:43 via retailgazette.co.uk
  
  Morrisons has unveiled a host of management changes as CEO Rami Baitiéh begins shaping up his senior team for the supermarket’s next chapter.
  Former Coles liquor chief executive Darren Blackhurst will take the reins from Rachel Eyre as interim chief customer and marketing officer while she is away on maternity leave.
  Blackhurst returns to Morrisons from 18 March, having previously worked for the grocer between 2015 to 2019 primarily as group commercial director.
  Baitiéh said
  
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• Asda private equity owner acquires majority stake in Jollyes

  28-02-2024 13:33 via retailgazette.co.uk
  
  The private equity owner of Asda has snapped up a majority stake in pet retailer Jollyes.
  The deal with TDR Capital will enable the pet specialist to invest in lower prices and accelerate its store opening programme to compete with rival Pets at Home.
  Details of the transaction were not disclosed, but the group’s current owner Kester Capital said the sale delivered a 4.2x return on its initial investment into the business in 2018.
  Under its ownership, the pet retailer’s profits and s
  
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• Interview: Georgia Leybourne, CMO at Linnworks

  28-02-2024 13:05 via theretailbulletin.com
  
  Today, we’re joined by Georgia Leybourne, Chief Marketing Officer at Linnworks, a key player in ecommerce inventory management solutions. With her extensive background in retail, supply... View Article
  
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• TDR Capital acquires majority stake in pet retailer Jollyes

  28-02-2024 12:59 via theretailbulletin.com
  
  Private equity firm TDR Capital has acquired a majority stake in the Jollyes pet retailer. Expected to complete by the end of April, the deal will... View Article
  
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• Amazon to invest in start-ups that combine AI with robotics

  28-02-2024 12:00 via ft.com
  Franziska Bossart, head of ecommerce giant’s $1bn innovation fund, vows to increase deals aimed at automating retail network
  
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• Amazon lobbyists banned from European parliament

  28-02-2024 11:20 via retailgazette.co.uk
  
  Amazon lobbyists will be barred from the European parliament as part of an escalating dispute over transparency and working conditions.
  The European Parliament said on Tuesday the access badges that give the ecommerce giant’s lobbyists permission to be on its premises will be withdrawn.
  It comes as a group of MEPs called for the move, saying Amazon had repeatedly failed to engage with it about its approach to workers’ rights and labour conditions, The Financial Times reported.
  Amazon
  
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• Halfords shares plunge after unscheduled profit warning

  28-02-2024 11:12
  
  Motoring and cycling retailer blames slump on wet weather and customers buying bicycles on creditHalfords shares have plunged by almost a quarter after it issued an unscheduled profit warning, in part because of more consumers buying bicycles on credit.The motoring and cycling retailer said it expected to post profits of between £35m and £40m for the year up to this April, well down on its initial forecast of between £48m and £53m. Continue reading...
  
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• Halfords’ shares plunge after profit warning

  28-02-2024 10:56 via ft.com
  UK bike and car parts seller forecasts drop in earnings due to wet weather and poor consumer confidence
  
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• Very secures £125m of private equity funding as it falls to half-year loss

  28-02-2024 10:12 via retailgazette.co.uk
  
  The Very Group is set to receive £125m of funding from US and Middle East private equity firms, as it swings to a half-year loss.
  The online retail group, owned by the Barclay family, will be given £85m from Carlyle and a further £40m from Abu Dhabi-based IMI, with both private equity houses taking a seat on the retailer’s board.
  It comes as the group unveiled a half-year pre-tax loss of £2m, down from £2.1m profit the year before, which it said was down to hi
  
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• Halfords slashes profit guidance as mild weather and weak demand hit sales

  28-02-2024 09:35 via retailgazette.co.uk
  
  Halfords posted a profit warning after its cycling, motoring and tyres business took a hit.
  The retailer slashed its full-year profit guidance from the £48m and £53m range forecast in Q3, to between £35m and £40m for the year ended 29 March.
  It said conditions would not change for the rest of its financial year, including the peak Easter cycling period.
  The business said despite having continued to take “decisive action” on cost, this would not be sufficient t
  
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• UK’s Largest retailers are greener but less focussed on D&I says new study

  28-02-2024 09:00 via theretailbulletin.com
  
  A new Environmental, Social, and Governance (ESG)* report suggests the UK’s largest retailers are stepping up their efforts to become greener but losing focus on diversity... View Article
  
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• Halfords warns on profit after wet weather impacts sales

  28-02-2024 09:00 via theretailbulletin.com
  
  Halfords has warned on profit after wet weather led to softer trading in three of its core markets. In its third quarter trading update on 25... View Article
  
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• Halfords issues profit warning after wet weather impacts sales

  28-02-2024 09:00 via theretailbulletin.com
  
  Halfords has warned on profit after wet weather led to softer trading in three of its core markets. In its third quarter trading update on 25... View Article
  
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• H&M Studio presents latest collection at exhibition during Paris Fashion Week

  28-02-2024 08:59 via theretailbulletin.com
  
  H&M is currently showcasing its H&M Studio spring/summer collection during Paris Fashion Week via a temporary exhibition in a historic building near the Palais Garnier. The... View Article
  
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• Homebase plunges into the red after ‘challenging year’

  28-02-2024 08:34 via retailgazette.co.uk
  
  Homebase was met with heavy losses last year, as it claimed customers had been “cautious” with their spending.
  The business reported an £84m loss in the year to January 2023, from a profit of £30m the year prior, according to accounts viewed by The Times.
  Homebase reportedly posted a loss of EBITDA of almost £45m, compared to a £63.6m profit the year before.
  Additionally, sales plummeted from £788m to £701m during the period.
  Describing 2022-23 as
  
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• ASOS brings back ASOS Insider influencer programme

  28-02-2024 08:06 via theretailbulletin.com
  
  Online fashion retailer ASOS has relaunched its ASOS Insider influencer programme in a move that will aim to offer customers inspiration, beauty, fashion, and style advice... View Article
  
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• BP pilots made-to-order food offering at select Wild Bean Cafes

  28-02-2024 07:50 via theretailbulletin.com
  
  BP has launched a trial of a new and improved fresh food for now offering that can be personalised to customers’ tastes at 10 of its... View Article
  
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