Retail news

• Sainsbury’s looks to axe 1,500 jobs under new £1bn cost-saving strategy

  29-02-2024 16:31 via retailgazette.co.uk
  
  Sainsbury’s has proposed plans to cut 1,500 roles under its Next level Sainsbury’s strategy, which the grocer unveiled earlier this month as it looks to save £1bn over the next three years.
  The supermarket’s plans, which are still subject to consultation, are part of its Save and invest to win programme, where any savings created are invested back into the business.
  The changes include simplifying its store support centre structure, creating more efficient contact centre
  
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• Ocado ‘could sue’ M&S in dispute over £190m final payment

  29-02-2024 15:46 via theguardian.com
  
  Marks & Spencer, which owns 50% of online grocer, is withholding part of the sum, saying targets were missedOcado has threatened to sue Marks & Spencer over a multimillion-pound payment linked to their online joint venture.M&S, which owns 50% of Ocado Retail, is withholding part of the £190m final payment after their delivery tie-up failed to hit certain performance targets. Continue reading...
  
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• How to Win in the FMCG Battleground

  29-02-2024 15:43 via retailgazette.co.uk
  
  In today’s competitive retail landscape, every aisle is a battleground where brands fight for attention.
  But here’s the good news: Technology is changing the game.
  Explore White Label Loyalty’s latest whitepaper to learn how modern tech is helping FMCG brands overcome legacy challenges.
  What’s inside:• Uncover the biggest challenges that hold FMCG brands back, and how tech clears the path• Learn from industry leaders like PepsiCo and Crosta & Mollica• D
  
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• Iceland to recruit 250 extra delivery drivers

  29-02-2024 15:25 via retailgazette.co.uk
  
  Iceland has kicked off a recruitment drive as it embarks on a major expansion of its food delivery business.
  The frozen food specialist is hiring 250 extra drivers to support and strengthen its current network, The Standard reported.
  Iceland Foods and The Food Warehouse HR director Helen Tindle said: “We are currently recruiting for over 250 home delivery driver roles across Iceland and The Food Warehouse, as we prepare for the busy Easter trading period.”Subscribe to Retail Gazette
  
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• The Body Shop to close 75 stores across UK and cut hundreds of jobs

  29-02-2024 13:35 via theguardian.com
  
  Administrators say closures will take place over next six weeks amid plans to ‘right-size UK store portfolio’Business live – latest updatesThe Body Shop is to close 75 stores across the UK in the next six weeks with the loss of 489 jobs, according to administrators who are overseeing the restructuring.The closures are spread across the country, from Swansea to Glasgow, and mean that nearly 800 people will lose their jobs when the 300 redundancies at the head office are taken in
  
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• The Body Shop: 489 jobs lost as administrators to shut 75 more stores

  29-02-2024 13:24 via retailgazette.co.uk
  
  The Body Shop administrators have confirmed that an additional 75 stores will close, putting more than 400 jobs at risk, as it continues to restructure the retailer’s UK business.
  Administrators FRP said on Thursday the decision will result in 489 employees being made redundant over the next four to six weeks.
  It confirmed that 116 of The Body Shop stores across the UK will remain open, with the second wave of store closures providing “the best opportunity for long-term sustainable f
  
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• The Body Shop: 489 jobs lost as administrators shut 75 more stores

  29-02-2024 13:24 via retailgazette.co.uk
  
  The Body Shop administrators have confirmed that an additional 75 stores will close, putting more than 400 jobs at risk, as it continues to restructure the retailer’s UK business.
  Administrators FRP said on Thursday the decision will result in 489 employees being made redundant over the next four to six weeks.
  It confirmed that 116 of The Body Shop stores across the UK will remain open, with the second wave of store closures providing “the best opportunity for long-term sustainable f
  
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• Brent Cross and Bullring owner reports first rise in rental values since 2017

  29-02-2024 11:53
  Hammerson results indicate gloom over UK retail property market might have turned
  
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• Ocado threatens M&S with legal action over joint venture payment

  29-02-2024 11:46
  UK retailers locked in negotiations over a payment tried to online venture set up in 2019
  
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• Ocado CEO: ‘We will not walk away’ from £191m M&S payment as it threatens to sue

  29-02-2024 11:15 via retailgazette.co.uk
  
  Ocado has said it may need to sue M&S over a multi-million-pound payment for their online grocery partnership, as tensions rise over its performance.
  M&S is withholding the payment from the online grocery specialist after its delivery tie-up failed to reach key performance targets, it was revealed last week.
  Ocado Group chief executive Tim Steiner said: “We are very confident we are owed a substantial sum of money, and ultimately I hope we’ll never get there but we will not w
  
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• Footasylum hails year of ‘record’ sales growth

  29-02-2024 09:46 via theretailbulletin.com
  
  Footasylum has reported an uplift in full year sales as profit as it continues its store opening programme across the UK. In the year to 27... View Article
  
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• Footasylum sales and profits jump as store roll-out continues

  29-02-2024 09:26 via retailgazette.co.uk
  
  Footasylum reported a “record-breaking” performance after full year sales and profits surged driven by the opening and upsizing of stores.
  EBITDA for the footwear retailer rocketed 38% to £22m in the year to 27 January 2024, up from £16m, which its said represented an “all-time high” as performance was “helped by close management of gross margin and operating costs”.
  Sales rose 7% to £320m, up from last year’s £298m, which it attr
  
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• How to profit from change

  29-02-2024 09:20 via theretailbulletin.com
  
  The challenges facing retailers and brands to build compelling as well as commercial online experiences for their customers are becoming heavier, but they also present opportunities... View Article
  
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• Ocado full-year losses narrow as it promises ‘industry-leading’ margin

  29-02-2024 09:13 via retailgazette.co.uk
  
  Ocado posted a full-year loss of £394m but it returned to profit on an EBITDA level.
  The figures, which includes a £187m settlement reached with robotic warehouse AutoStore, represent a £107m improvement on last year.
  Adjusted EBITDA hit £51.6m, making it an £125.7m uplift on the year prior.
  Ocado insisted its annual results for the 53 weeks to 3 December were in line with or better than its guidance and said the group had made “good progress” in 2023.
  S
  
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• Ocado posts full year sales growth as retail business returns to profit

  29-02-2024 09:10 via theretailbulletin.com
  
  Ocado Group has posted a 9.9% increase in annual group revenue to £2.8 billion following improved performances at its retail and technology businesses. In the year... View Article
  
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• Frasers Group CMO exits and 20 jobs at risk amid marketing restructure

  29-02-2024 08:59 via retailgazette.co.uk
  
  Frasers Group chief marketing officer Beckie Stanion has left her post and 20 jobs have been placed at risk as the company restructures its marketing team.
  The retail empire has launched a consultation period for the employees impacted by its move to “improve operational efficiency and delivery across all areas of marketing functions”, Drapers reported.
  Stanion joined the business in May 2022, overseeing the brand direction and marketing for Flannels, Sports Direct, USC, House of Fra
  
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• The Very Group secures new investment

  29-02-2024 08:32 via theretailbulletin.com
  
  The Very Group fashion and homewares retailer has secured a £125 million funding package to support its growth strategy. Some £85 million has been provided by... View Article
  
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• Tesco launches Accelerator Programme for developing brands

  29-02-2024 07:49 via theretailbulletin.com
  
  Tesco is championing  27 up-and-coming brands with the launch of its new Accelerator Programme. The supermarket said in a statement that the scheme will provide support... View Article
  
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• One-quarter of all mobile phones sold in the UK in 2023 were bought second-hand or refurbished

  29-02-2024 07:00 via theretailbulletin.com
  
  Refurbished phones appeal to buyers wanting to upgrade models for less and second-hand models to those on a budget. Data from GfK UK’s Tech360 survey reveals... View Article
  
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• Interview: The Cotswold Company CEO on throwaway furniture, its value push and 2024 growth plans

  29-02-2024 00:14 via retailgazette.co.uk
  
  The Cotswold Company boss Ralph Tucker is banking on the trend of consumers moving away from “throwaway” furniture as he unveils his expansion plans for business in the year ahead.
  It’s a shift that has served it well in recent years. Despite a tough market for big-ticket retailers, the quintessential British furniture brand reported a positive start to the year as order numbers jumped 13% to £16.4m in the run up to the new year – a £1.8m increase on the same
  
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