Retail news

• Home Bargains pushes ahead with store expansion plans as profits rise

  09-04-2024 17:01 via retailgazette.co.uk
  
  Home Bargains owner TJ Morris has posted a rise in sales and profit as it pushes ahead with its expansion plan.
  The Liverpool-based discounter saw its turnover jump 10.2% from £3.4bn to £3.7bn in the year to 30 June 30, according to accounts filed with Companies House.
  Pre-tax profits rose 12.4% during the period, up from £293m in 2022 to £332m.
  TJ Morris said the was positive results were driven by “opening of additional retail outlets during the year, shop re-site
  
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• Ted Baker: Next and Sports Direct eye rescue deal

  09-04-2024 16:20 via retailgazette.co.uk
  
  Next and Sports Direct have both expressed an interest in snapping up Ted Baker’s stricken European arm.
  The two East Midlands high street giants have contacted administrators Teneo about taking on certain Ted Baker stores, in a move which will save jobs, The Times reports.
  On Monday (8 April) , the business said it would be closing 11 UK stores and slashing head office roles, resulting in 145 redundancies, with an additional 100 redundancies from the stores landlords have served noti
  
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• Home Bargains owners net £36mn dividend

  09-04-2024 15:25 via ft.com
  Billionaire Morris family payout follows rising sales and profits during cost of living crisis
  
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• Hobbs owner TFG secures £90m funding to support strategic growth

  09-04-2024 15:22 via retailgazette.co.uk
  
  TFG London, the owner of Hobbs, Whistles and Phase Eight has agreed a £90m refinancing facility to support its growth strategy.
  The business has successfully refinanced its existing £60m debt facility and secured an additional £30m in a move that “marks a significant step forward” in its strategic growth plans, providing flexibility for further investment in its brand platform, including organic expansion both in the UK and internationally, as well as supporting the
  
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• M&S unveils £1m investments to ‘turbocharge’ net zero goals

  09-04-2024 13:44 via retailgazette.co.uk
  
  M&S is investing £1m in a bid to tackle the methane produced by cows by changing the diet of the herds that provide its milk as it looks to achieve its Net Zero by 2040 goals.
  The business is working with all 40 of the pasture-grazed dairy farmers in its supply base with the aim of cutting 11,000 tons of greenhouse gas emissions annually produced by cattle burps and manure.
  It said that adding a new type of feed to the cows’ diet would reduce the carbon footprint of its main fres
  
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• Q&A: Jason Colbridge, Retail and Distribution Lead, Hitachi Solutions

  09-04-2024 13:12 via theretailbulletin.com
  
  Hitachi Solutions Europe offers business-tailored services and solutions to guide organisations through their transformation journey and help customers address their technological challenges. Can you tell us... View Article
  
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• M&S invests £1m in tackling methane from burping and farting cows

  09-04-2024 12:50
  
  Retailer works on changing diet with aim of cutting 11,000 tons of greenhouse gas emissions a year Marks & Spencer is investing £1m in tackling the methane produced by cows by changing the diet of the herds that provide its milk.The retailer is working with all 40 of the pasture-grazed dairy farmers in its supply base with the aim of cutting 11,000 tons of greenhouse gas emissions annually produced by cattle burps and manure. It said adding a new type of feed to the cows’ diet wo
  
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• Trust issues: creating happier, healthier workers with AI

  09-04-2024 12:33 via theretailbulletin.com
  
  By Chris Brook-Carter, chief executive of the Retail Trust Record levels of people in the UK are currently not working due to long-term sickness. According to... View Article
  
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• [ WEBINAR ] Analytics in Retail: Transforming Data into Action with Microsoft Fabric

  09-04-2024 12:20 via theretailbulletin.com
  
  We’re pleased to invite you to Hitachi Solutions’ latest webinar, “Analytics in Retail: Transforming Data into Action with Microsoft Fabric”, where they will explore the cutting-edge... View Article
  
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• Replatforming your online store: When retailers should consider a new platform and how to pick the right one

  09-04-2024 12:05 via theretailbulletin.com
  
  By Eleanor Papadimos, Commercial Director, Web Division at idhl In the digital world, if you’re not evolving, you’re likely losing revenue. As the online space develops... View Article
  
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• ProCook reports sales uplift after launching new stores

  09-04-2024 11:43 via retailgazette.co.uk
  
  ProCook saw retail revenues soar almost 9% in its fourth quarter, after opening two new stores during its prior three month period.
  Total sales at the business were up 4.8% to £13.2m during the 12 weeks to 31 March as like-for-like revenue nudged up 1.5%.
  The results come after the kitchenware company rolled out a new small kitchen electricals range last month.
  The brand also relocated and upsized one of its existing stores in the fourth quarter, and closed three of its smaller garden cent
  
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• Joules goes back to its roots with new live shopping series

  09-04-2024 10:13 via retailgazette.co.uk
  
  Joules is hosting a series of live shopping events in a move that it said “harkens back to how we started 35 years ago”.
  The fashion retailer will host its first event, in partnership with live shopping solution provider Sprii, via Facebook Live on 11 April at 6pm.
  Joules said it aims to go live across the country and at key events in the coming months, mirroring how it started out in 1989.Subscribe to Retail Gazette for free
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• Zara to expand presence at Birmingham’s Bullring & Grand Central

  09-04-2024 10:05 via retailgazette.co.uk
  
  Zara is set to “significantly upsize” its Bullring & Grand Central store as the fashion giant looks to elevate its presence in the West Midlands.
  In a move that completes the repurposing of the former Debenhams, Zara is taking the top floor above M&S alongside an adjacent two-storey unit on Bullring’s upper level – creating over 51,000 sq ft of shopping space.
  The two new stores will feature the fashion retailer’s full range of womenswear, menswear and child
  
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• Sports Direct kicks off court hearing against Newcastle United

  09-04-2024 10:00 via retailgazette.co.uk
  
  Sports Direct went to court (9 April) today to launch its claim against Newcastle United, over an exclusive kit deal between the football club and JD Sports.
  Frasers Group, which owns the sports retailer, is seeking £1.5m worth of damages after insisting Newcastle Utd, which was previously owned by Mike Ashley, was abusing its dominant position in the market by blocking the retailer from selling its new Adidas kit for the 2024-25.
  While the Competition and Appeals Tribunal is forecast to h
  
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• Tesco teams up with grocery giants to launch $125 million VC fund

  09-04-2024 09:46 via theretailbulletin.com
  
  Tesco has teamed up with five global grocery leaders to launch a $125 million venture capital fund with the aim of accelerating innovation. The supermarket has... View Article
  
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• Early Easter boosts March retail sales

  09-04-2024 09:29 via retailgazette.co.uk
  
  The early Easter bank holiday weekend provided a small uplift to retail sales last month, despite a continuous year-on-year decline in online sales.
  The latest figures from the British Retail Consortium and KPMG show that sales edged up 3.5% year-on-year in the five weeks to 30 March, compared to a 5.1% in 2023.
  Food sales jumped 6.8% over the three months to March, against a growth of 8.5% last year.
  Total non-food sales came under pressure, dropping 1.9% year on year over the three months comp
  
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• The Very Group promotes Robbie Feather to group chief executive role

  09-04-2024 09:16 via theretailbulletin.com
  
  The Very Group has promoted retail managing director Robbie Feather to the position of group chief executive. A former chief executive of Fenwick, Feather joined The... View Article
  
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• Charlotte Tilbury owner Puig seeks £2.1bn Spanish IPO

  09-04-2024 09:01 via retailgazette.co.uk
  
  Charlotte Tilbury-owner Puig is looking to raise more than £2.1bn (€2.5bn) through an initial public offering, making it the biggest stock market listing in the beauty sector in years.
  The Spanish beauty group, which owns 14 brands and several fragrance licences, is planning to list on the Barcelona, Madrid, Bilbao and Valencia stock exchanges, according to a regulatory filing on Monday.
  Puig said it wanted to raise about £1.07bn (€1.25bn) through a primary offering and a &
  
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• ProCook posts improved fourth quarter trading

  09-04-2024 08:45 via theretailbulletin.com
  
  Kitchenware retailer ProCook has reported improved trading in its fourth quarter after launching a new small electricals range, enhancing the customer experience, and delivering improved value. Total... View Article
  
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• A Day in the Life … Hannah Grievson, Sloane Stanley

  09-04-2024 08:45 via theretailbulletin.com
  
  Meet Hannah Grievson, Property Director at Sloane Stanley, who has transformed Chelsea’s retail and community spaces with her two decades of experience in property management. With... View Article
  
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• The Very Group promotes Robbie Feather to CEO

  09-04-2024 08:35 via retailgazette.co.uk
  
  The Very Group has promoted retail managing director Robbie Feather to the position of chief executive as Lionel Desclée resigns after less than two years.
  Feather, who joined the business in 2021, has recently overseen the development of the retailer’s successful new brand platform which contributed to a 2.7% uptick in half-year sales for Very’s UK arm.
  He was previously the CEO of Fenwick, where he is credited with turning around the company and modernising its customer
  
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• Ted Baker set to close 15 stores with the loss of 245 jobs

  09-04-2024 08:14 via theretailbulletin.com
  
  Fashion brand Ted Baker is set to close 15 stores with the loss of 245 jobs. The news follows the company’s European retail and online arm... View Article
  
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• UK retailers given hope of ‘green shoots of recovery’ after Easter pickup

  09-04-2024 01:01
  
  Sector enjoyed best month in more than two years in March, consumer spending report showsAn early Easter boosted consumer spending in March and gave Britain’s retailers their best month in more than two years, according to a report.Prompting hopes that the retail sector might be emerging from a protracted soft patch, the latest snapshot of spending in shops and online showed the value of sales above the current inflation rate for the first time since the early days of the cost of living cr
  
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• UK retail sales growth picks up as price pressures ease

  09-04-2024 01:01 via ft.com
  Data from British Retail Consortium points to signs of recovery for sector ahead of warmer months
  
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• As Ted Baker store closures begin, what went wrong?

  09-04-2024 00:49 via retailgazette.co.uk
  
  Ted Baker is set to close 15 UK stores and cut some head office roles, as administrators take action to try to save the fashion brand.
  Although landlords have served notice on four of those sites, the others were loss-making stores that the administrators deemed to have “no prospect of being returned to profitability, even with material rent reductions”.
  They said the closures were a “constructive and necessary step in ensuring the business can deliver a profitable trading perf
  
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