Retail news

• Pandora promotes from within for new BRIS general manager

  21-03-2024 17:54 via retailgazette.co.uk
  
  Pandora has named its current general manager of Northern Europe Sonia Lopez Delgado as its new general manager of the British Isles (BRIS).
  Delgado joined the jewellery retailer in 2018 as its country manager in Spain, and has previously held senior positions across The Body Shop, LVMH Fragrances Brands and El Corte Inglés.
  Pandora CEO Alexander Lacik said: “Having built a very strong team in our Northern Europe cluster and driving impressive brand momentum in Germany, I’m ce
  
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• Pandora names new UK boss

  21-03-2024 17:54 via retailgazette.co.uk
  
  Pandora has named its current general manager of Northern Europe Sonia Lopez Delgado as its new general manager of the British Isles (BRIS).
  Delgado joined the jewellery retailer in 2018 as its country manager in Spain, and has previously held senior positions across The Body Shop, LVMH Fragrances Brands and El Corte Inglés.
  Pandora CEO Alexander Lacik said: “Having built a very strong team in our Northern Europe cluster and driving impressive brand momentum in Germany, I’m ce
  
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• Ex-Steinhoff chief executive Markus Jooste dies of gunshot wound

  21-03-2024 17:39
  South Africa’s regulator had inflicted Jooste with record $25mn fine for role in country’s biggest corporate scandal
  
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• Waitrose to axe Enfield warehouse, putting 545 jobs at risk

  21-03-2024 17:34 via retailgazette.co.uk
  
  Waitrose is set to close its Enfield warehouse in the summer, placing 545 jobs at risk.
  A letter written to warehouse workers from the grocer’s online director Laura Burbedge claimed the lease on the building was set to expire in 2025, and that “while exploring contract negotiations with the landlord is possible… we know our rent costs at Enfield will increase”.
  According to Retail Week, Burbedge explained: “With this in mind, regrettably we’re proposing to c
  
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• Luxury Fashion Boutique Phoenix Style pioneers the preloved scene

  21-03-2024 17:05 via theretailbulletin.com
  
  The popularity of second-hand fashion is rapidly rising with an array of online marketplaces, such as Vinted, reporting a 680% growth over the last 18 months. Nowadays,... View Article
  
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• In pictures: H&M opens doors to Chelsea concept store

  21-03-2024 16:39 via retailgazette.co.uk
  
  H&M has opened its latest concept store on Chelsea’s King’s Road, inspired by London’s fashion and cultural history.
  The store, which was designed by H&M’s in-house architecture team, is located at 72 Kings Road, a grade II listed building.
  The new concept store offers shoppers the most fashion-forward womenswear, including a handpicked curation of the brand’s “most elevated designs and innovative pieces” as well as accessories and its exclusive
  
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• UKTights announces luxury legs takeover

  21-03-2024 16:36 via theretailbulletin.com
  
  UK-based online tights retailer, UKTights today announces its takeover of 10-year old British brand, Luxury-Legs. Established in 2005, UKTights is one of the UK’s biggest online retailers... View Article
  
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• Depop scraps selling fees to boost circularity

  21-03-2024 16:34 via retailgazette.co.uk
  
  Depop is scrapping selling fees for UK users in efforts to make its fashion more circular.
  Sellers on the secondhand clothes app will receive more money back from each of their sales this month when the business ditches its 10% selling charge for new posted listings.
  The move comes under a broader update to its fee structure, according to retailer, including the launch of a marketplace fee of up to 5% for UK buyers, commencing from 15 April.
  Depop said the fee would support “continued inve
  
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• Yards Store top open new space in Sheffield

  21-03-2024 16:29 via theretailbulletin.com
  
  Independent men’s fashion retailer, Yards Store, will open its new Sheffield city centre store on the 22 March. Originally founded in 2016, Yards Store opened its... View Article
  
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• Yards Store to open new space in Sheffield

  21-03-2024 16:29 via theretailbulletin.com
  
  Independent men’s fashion retailer, Yards Store, will open its new Sheffield city centre store on the 22 March. Originally founded in 2016, Yards Store opened its... View Article
  
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• Next cheers retail sector with bumper profits and price drop

  21-03-2024 16:24
  
  Shares hit record high as fashion and homeware chain says it ‘feels like it is entering a new era’Business live – latest updatesNext has said the prices it charges customers are falling, as the fashion and homeware retailer reported bumper profits and pointed to an improving UK consumer backdrop.The chief executive, Simon Wolfson, said it had been a long time since the group had started a financial year on such a positive note after announcing strong sales and growth results fo
  
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• UK consumer confidence at its best in seven years, says head of Next

  21-03-2024 15:17
  Shares hit record high after retailer predicts profit of almost £1bn this year
  
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• Mike Ashley confirms consultancy agreement with Hornby

  21-03-2024 13:40 via retailgazette.co.uk
  
  Mike Ashley has confirmed he will act as consultant to Hornby in a bid to boost its value to shareholders.
  Frasers Group increased its stake in the model railway company to almost 9% in February, under a wider investment spree from the retail giant.
  On Wednesday, Hornby informed shareholders that Ashley had entered a consultancy deal with the retailer through his private investment firm, Mash Holdings.
  Hornby said the retail tycoon would “support” its CEO Olly Raeburn alongside the w
  
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• Greggs stores reopen after IT glitch halted payments

  21-03-2024 13:07 via retailgazette.co.uk
  
  Greggs has confirmed all of its stores are trading normally again after an IT issue caused some sites to close on Wednesday (20 March).
  Customers at the bakery chain found some shops shut or unable to take card payments at cities including London, Cardiff, Manchester and Glasgow – although it remains unclear how many stores were affected.
  Customers took to social media at the time to express their frustration, with one X user writing: “Greggs this morning cash only! Sitting here with
  
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• Superdrug freezes prices across all cosmetics

  21-03-2024 12:40 via retailgazette.co.uk
  
  Superdrug has frozen prices across 5,000 of its makeup products, in celebration of becoming the number one retailer for cosmetics in the UK mass market.
  The move, which comes under the retailer’s ongoing commitment to support shoppers during the cost-of-living crisis, ensures that customer favourites such as Rimmel, E.L.F and Maybeline will remain the same price until the summer.
  The news comes as the business held more than 40% share of mass market cosmetics in February, representing its
  
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• Very Group auditor Deloitte resigns in fresh blow to Barclay family

  21-03-2024 11:51 via retailgazette.co.uk
  
  Deloitte has stepped down as auditor of Very Group, after struggling to gain access to its financial information.
  Creditors by Very Group were informed of the resignation on Wednesday, adding further pressure to the Barclay family.
  Deloitte, which has overseen the online retailer’s accounts for the last 11 years, said it quit after struggling to access “appropriate and relevant information in respect of certain financing arrangements between companies in the wider group.”
  The f
  
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• Very Group auditor Deloitte resigns as pressure mounts on Barclay family

  21-03-2024 11:51 via retailgazette.co.uk
  
  Deloitte has stepped down as auditor of Very Group, after struggling to gain access to its financial information.
  Creditors by Very Group were informed of the resignation on Wednesday, adding further pressure to the Barclay family.
  Deloitte, which has overseen the online retailer’s accounts for the last 11 years, said it quit after struggling to access “appropriate and relevant information in respect of certain financing arrangements between companies in the wider group.”
  The f
  
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• Aldi names top priority London store locations, with 3,500 new jobs planned

  21-03-2024 10:48 via retailgazette.co.uk
  
  Aldi has unveiled its wish list of top priority locations to open stores across London, including Notting Hill, Chelsea and Richmond as it looks launch more sites.
  The move is part of the discount grocer’s long-term plan to operate 1,500 stores across the UK, with a particular interest in shops within the M25 due to strong demand for Aldi in the capital.
  The German supermarket is looking to launch another 100 stores across the region under a £500m investment to open stores withi
  
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• Abercrombie & Fitch to open Oxford Street store next year

  21-03-2024 10:23 via retailgazette.co.uk
  
  Abercrombie & Fitch is launching a new two-floor store on 325 Oxford Street which is expected to open in 2025.
  The shop will trade from the ground and first floor of the building which is owned by real estate company Hines, and includes both office and retail space.
  Abercrombie & Fitch managing director of EMEA Scott Clarke-Bryan said: “We see tremendous opportunities for Abercrombie & Fitch here in London and this prime location at the crossroads of Oxford and Bond Street will
  
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• Next cheers retail sector with bumper profits and talk of falling prices

  21-03-2024 10:16
  
  Shares hit new high as chain says consumer backdrop is improving and ‘feels like it is now entering a new era’Next said the prices it charges customers are falling this year, as the fashion and homeware retailer reported bumper profits and said the UK consumer backdrop was improving.Simon Wolfson, the group’s chief executive, said that after a positive year of sales and profit growth in the year to January, it was “a long time since we started a year in a more positive fr
  
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• Carvana makes U-turn away from financial abyss

  21-03-2024 10:00
  Online used-car dealer’s cost cuts pay off even as sales volumes lag pandemic frenzy
  
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• Next shares hit record as UK retailer strikes bullish tone on consumer demand

  21-03-2024 09:52
  FTSE 100 company reiterates profit forecast of almost £1bn this year
  
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• Announcing Maria Hollins as newest addition to People in Retail Awards judging panel

  21-03-2024 09:40 via theretailbulletin.com
  
  We’re thrilled to announce that Maria Hollins, Chief Executive of Ann Summers, has joined the judging panel for the upcoming People in Retail Awards! Maria brings... View Article
  
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• Temu owner PDD beats expectations as revenues double in ‘pivotal’ year

  21-03-2024 09:26 via retailgazette.co.uk
  Temu owner PDD Holdings has posted total revenues of ¥247bn (£27bn) in the full year to December 31, nearly doubling from ¥130bn (£14.2bn) in 2022 as the ecommerce giant hailed 2023 a “pivotal” year where it saw immense growth.
  The Shanghai firm, which owns the rapid-growing marketplace Temu said the surge was driven by an “increase in revenues from online marketing services and transaction services”, alongside strong end-of-year sales festivals i
  
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• Kingfisher mulls bid for Homebase’s Ireland stores amid sale talks

  21-03-2024 09:00 via retailgazette.co.uk
  
  B&Q owner Kingfisher is reportedly contemplating a bid for Homebase’s stores in the Republic of Ireland, as discussions circulate about the potential sale of the broader business
  Hilco, the owner of Homebase, has engaged in talks with several potential purchasers, with the chain’s eight outlets in the Republic potentially up for sale, The Times reports.
  This move would signal the closure of Homebase in the region, as Kingfisher would be likely to rebrand the stores under the B&am
  
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• Next profits hit record high as it enters ‘new era’ of growth

  21-03-2024 08:43 via retailgazette.co.uk
  Next profits hit a record high in its last financial year.
  The retail giant posted a slightly better than expected 5% rise in profit to £918m for the year to January 2024 as group sales rose by almost 6% to £5.84bn.
  CEO Lord Wolfson said it was “a long time since we started a year in a more positive frame of mind”.
  “The Group has evolved so much in the last seven years and, in many ways, it feels like we are now entering a new era.”
  For the year ahead, Next ex
  
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• Next maintains outlook as profits hit ‘record high’

  21-03-2024 08:43 via retailgazette.co.uk
  Next has kept its guidance for sales and profit in the current year after profits hit a record high for the year ending January 2024.
  The retail giant posted a slightly better than expected 5% rise in profit to £918m for 2023-24 while group sales rose by almost 6% to £5.84bn, and as a result, said it expected a pre-tax profit of £960m ($1.23 billion) in 2024 up four per cent from what was previously expected.
  “Our outlook for 2024/25 has changed little since our
  
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• Comment: Faith in bricks and mortar

  21-03-2024 08:39 via theretailbulletin.com
  
  Headline figures might highlight rising store closures but the devil is invariably in the detail and there are strong arguments that bricks and mortar is heading... View Article
  
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• Harmonising voices: The indispensable role of retail communication teams in brand success 

  21-03-2024 08:37 via theretailbulletin.com
  
  In every business sector, communication is the lifeline that sustains and propels the brand forward, and the retail industry is no exception. At the heart of... View Article
  
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• Next beats expectations as it posts record profits

  21-03-2024 08:30 via theretailbulletin.com
  
  Next has posted a strong uplift in full year sales and profit after the fashion and homeware retailer outperformed its initial expectations. In the year to... View Article
  
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• [Interview] A day in the life of… Tania Oliver, Customer Services at Purlfrost

  21-03-2024 08:30 via theretailbulletin.com
  
  Established in 2003, Purlfrost is a distinguished UK retailer specialising in window films and glass coverings, acclaimed for innovative and quality products alongside stellar customer service.... View Article
  
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• Majestic in advanced talks to acquire Vagabond Wines

  21-03-2024 08:29 via theretailbulletin.com
  
  Majestic is in advanced talks to acquire Vagabond Wines, a wine bar chain that has filed its notice to appoint administrators. According to a report by... View Article
  
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• JD increases Chester presence

  21-03-2024 08:21 via theretailbulletin.com
  
  Sportswear retailer JD is expanding its presence in Chester with the opening of a bigger and improved store at the Broughton Shopping Park this weekend. The... View Article
  
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• Pour Moi launches swimwear edit on Brands at M&S

  21-03-2024 08:15 via theretailbulletin.com
  
  Womenswear brand Pour Moi has launched a range of swimwear on Marks & Spencer’s online shopping platform, Brands at M&S. The move follows the introduction of... View Article
  
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• M&S ‘superapp’ will need a long shelf life

  21-03-2024 06:00
  It’s a bold plan, but others have struggled to deliver
  
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• Gucci’s slump means the end of the luxury megatrend

  21-03-2024 06:00
  The dramatic sales collapse suggests it is time to consider each brand individually
  
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• Biba revisited: the brand that changed British fashion

  21-03-2024 06:00
  Founder Barbara Hulanicki recalls the making of the ’60s label ahead of a new exhibition
  
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• Big Tobacco is back, aided and abetted by the Nationals. We can’t let them win on vapes | Monique Ryan

  21-03-2024 01:43
  
  The government’s vaping legislation is a courageous start but it leaves gaping integrity issues unresolvedFrom 1 July the only vapes available in this country should be those prescribed by medical practitioners and dispensed by pharmacies. As a paediatrician who has witnessed the extraordinary increase in childhood vaping addiction in Australia, I wish our government had the courage to do this years ago. As a politician, I’m watching with concern the pushback from the tobacco and vap
  
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