Retail news

• François Pinault’s grandson, 26, replaces him on Christie’s board

  04-04-2024 18:20 via ft.com
  Appointment hints at succession planning inside billionaire family behind French luxury group Kering
  
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• Space NK owner eyes £400m sale of beauty chain

  04-04-2024 16:50 via retailgazette.co.uk
  
  Space NK owner Manzanita Capital is considering putting the premium beauty retailer up for sale with a price tag of more than £300m.
  The private investment firm is in talks with bankers to oversee a partial or complete sale of the company after 22 years, Sky News reported.
  It is unclear which firm would recieve the mandate, but retail industry sources said a decision will be made in the near future.Subscribe to Retail Gazette for free
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• Mango’s Victoria Beckham collection to launch this month

  04-04-2024 16:48
  
  Spice Girl turned designer says she’ll keep brand DNA as venture with Spanish high street chain disclosedVictoria Beckham is pivoting from high-end fashion to the high street. On Thursday, the retail chain Mango said it was collaborating with the Spice Girl turned designer on a collection of slip dresses, knitwear and accessories.The Spanish retailer described the new line, due to launch on 23 April, as “a perfect blend of classic British luxury”. Preview images show a model lo
  
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• Fiona Lambert brings empowerment and experience to PiRA24 Judging Panel

  04-04-2024 16:26 via theretailbulletin.com
  
  Exciting News Alert! Joining our rockstar judging panel for the People in Retail Awards is none other than the remarkable Fiona Lambert. Fiona is a true... View Article
  
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• The Co-op lost £70m to shoplifting last year as it uses AI to stop self-checkout theft

  04-04-2024 16:13 via retailgazette.co.uk
  
  Retail crime cost The Co-op £70m last year, according to food managing director Matt Hood, as the mutual turns to AI to stamp out theft at self-checkouts.
  The Co-op said incidents of shoplifting, abuse, violence and anti-social behaviour increased by 44% last year, as it faced an average of 1,000 incidents each day.
  “Last year, we experienced something like £70m worth of loss because of the ongoing retail crime epidemic. However, the real costs is the physical and mental wellbe
  
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• Co-op lost £70m to shoplifting in 2023 as it uses AI to stop self-checkout theft

  04-04-2024 16:13 via retailgazette.co.uk
  
  Retail crime cost The Co-op £70m last year, according to food managing director Matt Hood, as the mutual turns to AI to stamp out theft at self-checkouts.
  The Co-op said incidents of shoplifting, abuse, violence and anti-social behaviour increased by 44% last year, as it faced an average of 1,000 incidents each day.
  “Last year, we experienced something like £70m worth of loss because of the ongoing retail crime epidemic. However, the real costs is the physical and mental wellbe
  
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• Co-op profits rise despite record shoplifting levels in food stores

  04-04-2024 14:00
  
  Chain signs up 1m new members and invests more than £90m in cutting pricesDespite record levels of shoplifting in its food stores, the Co-op increased profits in its grocery business last year as it signed up 1 million new members and invested more than £90m in cutting prices, including introducing special discounts for members.Profits rose 11% year on year to £154m despite a 6.4% fall in sales to £7.3bn, driven by the sale of the Co-op’s petrol forecourt chain to A
  
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• Ocado Group chair to step down next year

  04-04-2024 10:24 via retailgazette.co.uk
  
  Ocado Group chair Rick Haythornthwaite is to step down from the board next year due to his “increasing commitment” at NatWest Group.
  Haythornthwaite said he will not seek re-election at the grocery tech firm’s annual general meeting in April 2025 and has asked the board to initiate the process of appointing his successor.
  He said in a statement: “Since the announcement of my appointment as group chair of NatWest I have given extensive thought to my workload … it ha
  
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• Morrisons extends ‘Quieter Hours’ to afternoons for autistic shoppers

  04-04-2024 10:16 via retailgazette.co.uk
  
  Morrisons is extending its Quieter Hours across all its stores to help autistic shoppers have a calmer shopping experience.
  The supermarket’s new hours will take place 2 – 3pm Monday to Thursday in addition to the weekend hours.
  The group first introduced its Quieter Hour back in 2018, which involves turning down the lights in stores, turning both the tannoy and any music off as well as muting all till sounds on Saturdays from 9am – 10am in a bid to make stores more comfortable
  
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• Co-op hails “robust” sales as it targets future growth

  04-04-2024 09:49 via theretailbulletin.com
  
  Co-op’s food retail business has seen its underlying operating profit increase by 11% to £154 million in the year to March 2023 as it looks forward... View Article
  
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• Small businesses slam Royal Mail’s ‘drastic’ delivery change proposals

  04-04-2024 09:28 via retailgazette.co.uk
  
  Representatives of small businesses and workers have aired concerns regarding proposals to reduce the frequency of second-class post deliveries, warning it could have ripple effects on the economy.
  The concerns come as Royal Mail proposed to reduce the delivery of second-class letters to every other weekday in a bid to combat heavy losses and changing customer habits.
  First-class mail would continue six days a week but the business also wants to reduce the delivery speed for bulk business mail,
  
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• Morrisons installs AI cameras to boost availability and staff efficiency

  04-04-2024 09:07 via retailgazette.co.uk
  
  Morrisons is set to install thousands of AI-powered cameras across its UK stores by the end of the year, after trials found they boosted availability and increased staff efficiency.
  The grocer has become the first UK retailer to integrate US technology, teaming up with Seattle-based AI company Focal Systems to carry out its strategy.
  Chief executive Rami Baitiéh has focused on improving patchy availability as the key priority for his turnaround at the retailer, with the cameras able to pr
  
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• Co-op targets growth as retail profits rise

  04-04-2024 08:57 via retailgazette.co.uk
  
  Co-op Group’s pre-tax annual profit fell sharply amid intense competition from discounters and heightened costs due to record levels of shoplifting, however, its retail profits jumped 11%.
  The mutual put the increase in underlying operating profit down to cost efficiencies, including improvements in availability, waste reduction, optimised stock-holding, and an overall reduction in the retailer’s cost-to-serve.
  Food revenue was marginally down at £7.3bn in the year to Marc
  
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• Co-op targets ‘golden era’ of growth despite plunging profits

  04-04-2024 08:57 via retailgazette.co.uk
  
  Co-op has seen its pre-tax annual profit fall sharply amid intense competition from discounters and heightened costs due to record levels of shoplifting.
  In its full-year update, the company, which also has funerals, insurance and legal businesses, saw profits plunge to £28m, compared with £268m the previous year, although it attributed this to the sale of its petrol forecourt business to Asda.
  The Co-op said that on an underlying basis, it made an operating profit of £97m, com
  
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• Co-op targets ‘golden era’ of growth as retail profits rise

  04-04-2024 08:57 via retailgazette.co.uk
  
  Co-op Group’s pre-tax annual profit fell sharply amid intense competition from discounters and heightened costs due to record levels of shoplifting.
  But its food retail business saw underlying operating profit increase by 11% to £154m in the year to March 2023, attributed mainly to cost efficiencies, including improvements in availability, waste reduction, optimised stock-holding, and an overall reduction in the retailer’s cost-to-serve.
  Against a continued challenging economic
  
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• Co-op targets eyes growth as retail profits rise

  04-04-2024 08:57 via retailgazette.co.uk
  
  Co-op Group’s pre-tax annual profit fell sharply amid intense competition from discounters and heightened costs due to record levels of shoplifting, however, its retail profits jumped 11%.
  The mutual put the increase in underlying operating profit down to cost efficiencies, including improvements in availability, waste reduction, optimised stock-holding, and an overall reduction in the retailer’s cost-to-serve.
  Food revenue was marginally down at £7.3bn in the year to Marc
  
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• Sainsbury’s launches new Low Everyday Prices offering

  04-04-2024 08:24 via theretailbulletin.com
  
  Sainsbury’s is launching a new value offering called Low Everyday Prices on selected big brand products. The pricing is being applied to over 1,000 popular items... View Article
  
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• Zara to significantly expand Liverpool One store

  04-04-2024 08:00 via theretailbulletin.com
  
  Zara is to significantly expand its flagship store at Liverpool ONE to create a 42,000 square foot space. The Inditex-owned fashion retailer will be refurbishing and... View Article
  
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• Tapi to open new Clacton store

  04-04-2024 08:00 via theretailbulletin.com
  
  Tapi Carpets & Floors is to open a new Essex store in Clacton on 5 April. Situated at Clacton Trade & Leisure Park, Old Road, the... View Article
  
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• A.F. Blakemore hires Nicola McIntosh as chief people officer

  04-04-2024 07:36 via theretailbulletin.com
  
  A.F. Blakemore has appointed Nicola McIntosh as its new chief people officer. Due to take up her position on 20 May, McIntosh has been working since... View Article
  
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• Interview: What’s next for Bensons for Beds after its return to profitability?

  04-04-2024 01:05 via retailgazette.co.uk
  
  Turning around an unprofitable business is no mean feat, but throw in a cost-of-living crisis where consumers have significantly pulled back on discretionary spend and that’s one steep hill to climb.
  “They often say ‘fix the roof while the sun is shining’, we’ve had to fix the roof while the rain has been pouring through the ceiling,” says Bensons for Beds CEO Nick Collard.
  The private equity-owned retailer revealed it had returned to profitability last month
  
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• The Range to install solar panels across warehouse estate

  04-04-2024 00:40 via retailgazette.co.uk
  
  The Range is installing solar panels on its warehouse rooftops as part of its commitment to reduce its operational carbon footprint and to help hedge the business againt the volatile energy market.
  The rollout, in partnership with renewable energy marketplace InRange, will begin with the 4.2m sq ft roof of the discount chain’s distribution centre in Ashford, Kent.
  The power generated on-site will be used for self-consumption and any surplus will be used for other The Range sites and sold t
  
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