Retail news

• Gucci owner Kering issues rare luxury sector profit warning after Asia slowdown

  19-03-2024 19:09 via ft.com
  Slowdown at French conglomerate in stark contrast to fortunes of LVMH and Hermès
  
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• Gucci-owner Kering issues rare luxury sector profit warning

  19-03-2024 19:09 via ft.com
  Slowdown at French conglomerate in stark contrast to fortunes of LVMH and Hermès
  
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• Nearly 1,000 jobs at risk as Ted Baker prepares to appoint administrators

  19-03-2024 17:37
  
  Authentic Brands announces move for brand’s Europe retail and online arm after ‘damage done’ during tie-up with Dutch companyTed Baker’s European retail and online arm is to appoint administrators, putting almost 1,000 jobs at risk at the British brand.The fashion brand, which has 46 stores in the UK and Europe, has been struggling for several years as it faced increasing competition and the fallout from the exit of its founder, Ray Kelvin, who stepped down in 2019 after
  
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• Ted Baker preparing to appoint administrators

  19-03-2024 17:22 via ft.com
  UK fashion brand on the brink of collapse, threatening hundreds of jobs
  
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• Nearly 1,000 UK jobs at risk as Ted Baker prepares to appoint administrators

  19-03-2024 17:09
  
  Authentic Brands announces move for brand’s Europe retail and online arm after ‘damage done’ during tie-up with Dutch companyTed Baker’s European retail and online arm is to appoint administrators, putting almost 1,000 jobs at risk at the British brand.The fashion brand, which has 46 stores in the UK and Europe, has been struggling for several years as it faced increasing competition and the fallout from the exit of its founder, Ray Kelvin, who stepped down in 2019 after
  
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• The Works to exit main stock exchange to cut costs

  19-03-2024 15:34 via retailgazette.co.uk
  
  The Works plans to exit the main market of the London Stock Exchange and move to AIM in a bid to reduce costs.
  The retailer, which first listed on the stock exchanve in July 2018, said it had “concluded that AIM is a more appropriate market” due to its size and lower losts. The move is “expected to deliver a significant cost saving” to the business.
  The Works chair Carolyn Bradley said: “Our proposed move to AIM follows months of careful consideration. We believe AI
  
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• Ted Baker calls in administrators

  19-03-2024 14:48 via retailgazette.co.uk
  
  Ted Baker’s owner has filed a notice to appoint administrators, putting hundreds of jobs at risk.
  According to Sky News, No Ordinary Designer Label – which is owned by Authentic Brands Group (ABG) – has filed a notice to appoint Teneo Financial Advisory to lead an insolvency process of its UK operations.
  The move, which is expected to lead to store closures and job losses, comes around 18 months after ABG bought the fashion chain for £211m.
  Last month, ABG terminated its
  
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• BREAKING: Ted Baker calls in administrators

  19-03-2024 14:48 via retailgazette.co.uk
  
  Ted Baker’s owner has filed a notice to appoint administrators, putting hundreds of jobs at risk.
  According to Sky News, No Ordinary Designer Label – which is owned by Authentic Brands Group (ABG) – has filed a notice to appoint Teneo Financial Advisory to lead an insolvency process of its UK operations.
  The move, which is expected to lead to store closures and job losses, comes around 18 months after ABG bought the fashion chain for £211m.
  If follows ABG terminating its
  
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• DFS and Wickes report weak demand for high-cost household goods

  19-03-2024 14:21
  
  Sofa retailer warns profits will be £10m lower than hoped as DIY group says conditions remain ‘challenging’The furniture retailer DFS and the DIY group Wickes have warned of weak demand for high-cost household goods as consumers continue to cut spending in the cost of living crisis.DFS, which specialises in selling sofas, said annual profits would be £10m lower than previously hoped and sales would come in up to £65m below expectations, adding that demand had &ldquo
  
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• Choosing the Right Retail Loyalty Platform

  19-03-2024 14:05 via theretailbulletin.com
  
  In the constantly shifting world of retail, customer loyalty is the North Star that keeps retailers on the path of constant growth and gives them a... View Article
  
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• Tesco to spend £8m changing Clubcard logo after losing case to Lidl

  19-03-2024 13:50
  
  Appeal court upholds finding that UK’s biggest supermarket infringed trademark with yellow circle logoTesco is to drop the blue and yellow logo used to promote its Clubcard loyalty scheme – a rebrand that could cost it almost £8m – after losing an appeal against a ruling that it had copied a design by Lidl.Legal experts said Lidl would have the right to seek compensation for infringement of its trademark, which could mean a further multimillion-pound bill for the UK&rsquo
  
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• Tesco to change Clubcard Prices branding after losing case to Lidl

  19-03-2024 13:50
  
  Appeal court upholds finding that UK’s biggest supermarket infringed trademark with yellow circle logoTesco is to drop the blue and yellow logo used to promote its Clubcard loyalty scheme – a rebrand that could cost millions of pounds – after losing an appeal against a ruling that it had copied a design by Lidl.Legal experts said Lidl would have the right to seek compensation for infringement of its trademark, which could mean a further multimillion-pound bill for the UK’
  
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• Tesco told to change Clubcard logo after losing case to Lidl

  19-03-2024 13:26 via ft.com
  UK’s biggest supermarket loses appeal against last year’s ruling over German discounter’s trademark
  
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• Tesco to change Clubcard logo after losing case to Lidl

  19-03-2024 13:26 via ft.com
  UK’s biggest supermarket loses appeal against ruling that it infringed German discounter’s trademark
  
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• Tesco loses trademark appeal as Lidl claims it ‘misleading customers’

  19-03-2024 13:15 via retailgazette.co.uk
  
  Tesco has lost a High Court appeal against a ruling that it infringed Lidl’s trademark over the use of a yellow circle on a blue background.
  It follows the High Court ruling in 2023 that Britain’s biggest retailer had taken “unfair advantage” of the German discount grocer’s distinctive reputation for low prices when it brought in the Clubcard Prices discount scheme.
  Lidl has a yellow circle in its main logo while Tesco uses the yellow and blue logo to highlight prod
  
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• Tesco loses trademark appeal as Lidl claims it is ‘misleading customers’

  19-03-2024 13:15 via retailgazette.co.uk
  
  Tesco has lost a High Court appeal against a ruling that it infringed Lidl’s trademark over the use of a yellow circle on a blue background.
  It follows the High Court ruling in 2023 that Britain’s biggest retailer had taken “unfair advantage” of the German discount grocer’s distinctive reputation for low prices when it brought in the Clubcard Prices discount scheme.
  Lidl has a yellow circle in its main logo while Tesco uses the yellow and blue logo to highlight prod
  
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• Tesco ‘disappointed’ after losing Lidl trademark appeal

  19-03-2024 13:15 via retailgazette.co.uk
  
  Tesco has lost a High Court appeal against a ruling that it infringed Lidl’s trademark over the use of a yellow circle on a square blue background.
  It follows the High Court ruling in 2023 that Britain’s biggest retailer had taken “unfair advantage” of the German discount grocer’s distinctive reputation for low prices when it brought in the Clubcard Prices discount scheme.
  Lidl has a yellow circle in its main logo while Tesco features one to-list offe
  
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• ‘The total toy platform’: boss of The Entertainer aims for infinity and beyond

  19-03-2024 13:00
  
  Andrew Murphy is planning a long game with overseas deals. But, he says, the government needs to play ball tooWe have checked out the three-metre-high T Rex in the lobby and eyed the giant Squishmallow bean bag in the corner of his office. Now Andrew Murphy is waving around a Fuggler, a soft furry toy with hideous teeth, button eyes that he believes will help The Entertainer in its quest for world domination.Murphy, who spent 30 years at John Lewis, joined the family-owned toy retailer as chief
  
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• Reiss to use AI to verify its green claims

  19-03-2024 12:44 via retailgazette.co.uk
  
  Reiss will use AI to verify its green claims to help give customers total confidence that the fashion retailer is sourcing responsibly.
  The brand has launched a partnership with AI powered verification platform Compare Ethics, which evaluates and ranks the quality of green claims against regulatory requirements, and offers actionable steps to businesses to achieve full compliance.
  It will verify between 3 to 14 data points for each sustainability claim made by the business, ensuring complia
  
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• Reiss to use AI to verify green claims to shoppers

  19-03-2024 12:44 via retailgazette.co.uk
  
  Reiss has launched a new partnership with AI powered verification platform Compare Ethics as part of its ongoing dedication to sustainability.
  The fashion retailer said the partnership will “offer Reiss, and its shoppers, total confidence in its green claims”.
  The verification platform evaluates and ranks the quality of green claims against regulatory requirements, and offers actionable steps to businesses to achieve full compliance.
  It will verify between 3 to 14 data points for eac
  
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• Reiss teams up with AI firm to give shoppers ‘total confidence in its green claims’

  19-03-2024 12:44 via retailgazette.co.uk
  
  Reiss has launched a new partnership with AI powered verification platform Compare Ethics as part of its ongoing dedication to sustainability.
  The fashion retailer said the partnership will “offer Reiss, and its shoppers, total confidence in its green claims”.
  The verification platform evaluates and ranks the quality of green claims against regulatory requirements, and offers actionable steps to businesses to achieve full compliance.
  It will verify between 3 to 14 data points for eac
  
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• America’s dollar stores are struggling

  19-03-2024 12:33 via ft.com
  People in the US are being squeezed to such an extent that they are spending less altogether
  
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• Hype reveals new growth strategy as it expands into travel

  19-03-2024 11:21 via retailgazette.co.uk
  
  Hype has unveiled a new growth strategy which will focus on children and their families.
  The streetwear inspired fashion brand said the plans included expanding its range into travel accessories, including luggage, duffel bags and toiletry bags.
  Hype said it hoped the strategy would strengthen its position in the sector as a “go-to destination for stylish and functional accessories.”
  Hype CEO Mike Thompson said: “We are thrilled to embark on this exciting new growth strategy, p
  
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• Wickes profits beat expectations as it snaps up solar installations firm

  19-03-2024 11:01 via retailgazette.co.uk
  
  Wickes posted better-than-expected annual profits as it revealed it had acquired solar installations business Solar Fast.
  The DIY retailer purchased 51% of the issued share capital of Gas Fast Limited, the parent company of Solar Fast for £5.1m.
  Wickes will also have the option to purchase the remaining 49% stake in the company over the next five years.
  It said the purchase, which was subject to FCA approval, would help it expand into the “fast-growing market” for home energy s
  
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• Luxury bosses urge government to grant Savile Row suits protected status

  19-03-2024 10:17 via retailgazette.co.uk
  
  Luxury bosses have called on the government to grant Savile Row suits the same protected status as Melton Mowbray pork pies and Cornish clotted cream.
  MPs are being urged to widen the Protected Geographical Indication regime to include goods such as Savile Row tailoring and Staffordshire pottery, alongside food and drink.
  As it stands, the regime, which is often seen as an indicator of quality and used for promotion purposes, grants certain food and drink products from a specific place legal pro
  
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• Wickes hails “robust” full year sales performance

  19-03-2024 09:54 via theretailbulletin.com
  
  Wickes has announced a “robust” full year sales performance as it confirmed that it will be acquiring a 51% stake in the parent company of Solar Fast.... View Article
  
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• Boots launches Klarna ‘buy now pay later’ option online

  19-03-2024 09:16 via retailgazette.co.uk
  
  Boots has launched a Klarna payments option both online and via its app from today (19 March). The new partnership with the buy now pay later giant will ensure shoppers a “smooth payments experience”.
  Customers can choose to pay upfront, within 30 days, or split their purchase into three interest-free instalments, Retail Week reports.
  Subscribe to Retail Gazette for free
   Sign up here to get the latest news straight into your inbox each morning Shoppers will also
  
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• Boots launches Klarna ‘buy now pay later’ option on app and website

  19-03-2024 09:16 via retailgazette.co.uk
  
  Boots has launched a Klarna payments option both online and via its app from today (19 March). The new partnership with the buy now pay later giant will ensure shoppers a “smooth payments experience”.
  Customers can choose to pay upfront, within 30 days, or split their purchase into three interest-free instalments, Retail Week reports.
  Subscribe to Retail Gazette for free
   Sign up here to get the latest news straight into your inbox each morning Shoppers will also
  
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• DFS warns on profits and flags Red Sea delay risk

  19-03-2024 09:01 via retailgazette.co.uk
  
  DFS has lowered its sales and profit guidance for the full year despite reporting a “resilient profit performance” through the first half.
  The sofa retailer warned that potential disruptions due to ongoing attacks in the Red Sea could hit future deliveries.
  “If the Red Sea issues continue through to our year end, potential delivery delays could result in up to £4m of profit being deferred into our following financial year,” it said.
  For the 26 weeks to December 24,
  
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• DFS lowers guidance as orders drop amid ‘weaker market demand’

  19-03-2024 09:01 via retailgazette.co.uk
  
  DFS has lowered its revenue and profit guidance for the full year despite reporting a “resilient profit performance” through the first half.
  The leading sofa retailer warned that potential disruptions due to ongoing conflicts in the Red Sea could hit future deliveries.
  “If the Red Sea issues continue through to our year end, potential delivery delays could result in up to £4m of profit being deferred into our following financial year,” it said.
  For the 26 weeks to D
  
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• [Interview] A day in the life of… John Ferguson, Vice President of AM

  19-03-2024 08:45 via theretailbulletin.com
  
  Join us for an exclusive interview with John Ferguson, a leading authority in customer experience. In today’s retail landscape, with so much of customer service and... View Article
  
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• Asda introduces two new staff benefits as it confirms retail pay rates for 2024

  19-03-2024 08:42 via theretailbulletin.com
  
  Asda has launched two new colleague benefits for its 150,000 staff members. Care Concierge, managed by Legal & General, will offer expert assistance regarding later-life care... View Article
  
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• Primark seals shopping bags with ‘sold’ stickers to clamp down on shoplifting

  19-03-2024 08:30 via retailgazette.co.uk
  
  Checkout staff at select Primark stores have begun sealing up its paper carrier bags using blue “sold” stickers in a bid to deter shoplifting.
  This means that any shoppers without stickers on their bags could be stopped at the exit by the retailer’s store security personnel.
  A Primark spokesperson told Sky News: “Antisocial behaviour and retail crime is rising right across the retail industry and we’re working with other retailers and organisations to help
  
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• IKEA announces further round of price cuts ahead of Easter

  19-03-2024 08:21 via theretailbulletin.com
  
  IKEA has announced a further round of price cuts on hundreds of its most popular items ahead of the Easter holidays. The furniture and homewares giant... View Article
  
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• Matches suppliers left in the dark following administration

  19-03-2024 08:20 via retailgazette.co.uk
  
  Matches supplies have been left uncertain about payment for their stock after Frasers Group put the business into administration at the start of this month.
  Approximately half of more than 450 brands stocked on the luxury fashion retailer’s platform have reportedly not been paid for their stock.
  The remaining suppliers have agreed to different discount levels requested by Frasers Group, with certain brands consenting to discounts of up to 30%, Drapers reports.
  A representative for two Brit
  
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• Matches suppliers left in limbo following administration

  19-03-2024 08:20 via retailgazette.co.uk
  
  Matches supplies have been left uncertain about payment for their stock after Frasers Group put the business into administration at the start of this month.
  Approximately half of more than 450 brands stocked on the luxury fashion retailer’s platform have reportedly not been paid for their stock.
  The remaining suppliers have agreed to different discount levels requested by Frasers Group, with certain brands consenting to discounts of up to 30%, Drapers reports.
  A representative for two Brit
  
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• Filippa K appoints Ida Petersson to its board

  19-03-2024 08:06 via theretailbulletin.com
  
  Fashion brand Filippa K has appointed Ida Petersson as its newest board member. The Swedish brand is looking to benefit from her extensive knowledge and experience... View Article
  
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• Hype unveils new growth strategy

  19-03-2024 07:52 via theretailbulletin.com
  
  The Hype fashion brand is embarking on a new growth strategy that will focus on children and their parents. This will also include expanding its range... View Article
  
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• Moss launches new store at Clarks Village

  19-03-2024 07:50 via theretailbulletin.com
  
  Menswear retailer Moss has opened a new store at Clarks Village in Somerset. Located in the outlet’s Apple Court, close to Vans and M&S. the 1,733... View Article
  
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• Jump in UK minimum wage keeps Bank of England on alert

  19-03-2024 05:00 via ft.com
  Rate setters will be watching for signs of pay growth feeding inflation
  
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• Cost of living crisis forcing Brits to cut down on essentials

  19-03-2024 01:31 via theretailbulletin.com
  
  According to the latest report from out-of-home media experts Clear Channel UK, 75% of the British public have had to make changes to their grocery shopping... View Article
  
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• 9 ways retailers can manage surplus and overstock inventory

  19-03-2024 00:06 via theretailbulletin.com
  
  Jackson Versitano, Regional Manager, UK & RoEMEA for Lightspeed Commerce Spring cleaning season is upon us. The time of year where retailers across the globe clear... View Article
  
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