Retail news

• M&S increases stocks of smaller womenswear sizes due to higher demand

  02-07-2024 18:24
  
  Rise in sales of ranges in six to 10 suggests retailer has been successful in appealing to younger demographicMarks & Spencer is increasing its stocks of smaller sizes in womenswear after a surge in demand left gaps on shelves.Stuart Machin, the chief executive of the high street stalwart, said that three years ago about a fifth (21%) of the items sold from its main seasonal collection were size six to 10 and that had now risen to 35% as its “fashion and style ranges [were] resonating
  
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• M&S bosses: ‘We haven’t given up on the high street’

  02-07-2024 17:46 via retailgazette.co.uk
  
  M&S bosses have stressed the retailer won’t “leave city centres” as shareholders questioned whether its decision to move some stores to out-of-town developments.
  Chairman Archie Norman insisted: “We haven’t given up on the high street. We have a very important store rotation programme but we are absolutely not trying to leave city centres – that has never been our intention.
  “We do have some older stores that are hard and costly to maintain and run s
  
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• M&S gets it right (finally) on annual meetings. Others should make an effort | Nils Pratley

  02-07-2024 16:54
  
  Last year’s ‘digital-only’ event ruffled feathers. This year’s hybrid meeting fuelled greater attendance and more opennessArchie Norman’s first attempt, a year ago, to reinvent the annual shareholder meeting for the digital age suffered from an enormous error. In designing the event as digital-only – in other words, in telling shareholders not to turn up in person and to tune in online instead – the chair of Marks & Spencer abused the well-establishe
  
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• Sainsbury’s boss says rate cuts needed to spur consumer spending; eurozone inflation dips to 2.5% – as it happened

  02-07-2024 16:35
  
  Simon Roberts says consumer caution ‘not surprising given everything households have been through in the cost of living crisis’Services is estimated to have the highest annual rate in the eurozone in June, of 4.1% – stable compared with May.This is followed by food, alcohol & tobacco at an annual rate of 2.5%, down from 2.6% in May; industrial goods at 0.7%, stable compared with May; and energy at 0.2%, down from May’s 0.3% rate. Continue reading...
  
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• 4 things Sainsbury’s CEO Simon Roberts wants from the next government

  02-07-2024 15:24 via retailgazette.co.uk
  
  Sainsbury’s CEO Simon Roberts has called out the four big things he wants to see from the next government, as the election looms this week.
  Following the grocery giant’s first results, which saw it toast “market-beating grocery performance”, Roberts insisted Sainsbury’s had been “engaging very actively before the election started with all political parties”.
  He added that he had been “encouraged” by the willingness to engage, and emphasised t
  
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• The Body Shop rescue bids due tomorrow

  02-07-2024 14:41 via retailgazette.co.uk
  
  Administrators of The Body Shop have set a deadline of tomorrow (July 3) for prospective buyers to submit bids.
  It comes amid reports that administrator FRP is keen to wrap up the sale of the retailer remaining assets after its collapse in February.
  It is understood that Laura Ashley owner Gorden Brothers is the favourite to take on the chain after rival private equity firm, Bensons for Beds owner Alteri, pulled out of the race, The Sun reported. Related StoryBoots boss insists departure is not
  
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• Boots boss insists departure is not related to axed sale

  02-07-2024 14:36 via retailgazette.co.uk
  
  Boots CEO Sebastian James has claimed his exit from the retailer is not related to Walgreens’ decision to shelve plans for a multibillion-pound sale of the UK business.
  The announcement of his departure came hot on the heels of Walgreens revealing it had scrapped plans to sell or Boots for a second time last week.
  James, who is leaving the business after six years to run ophthalmology company Veonet, told The Times that “any leader of business loves doing disruptive things and floati
  
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• B&Q appoints former Avon exec as new director of responsible business

  02-07-2024 14:01 via retailgazette.co.uk
  
  B&Q has hired ex PZ Cussons and Avon exec Joanna Gluzman as its new director of responsible business.
  Gluzman, who joined the DIY giant this week, has over 25 years of experience spanning ESG and investor relations.
  She was most recently chief sustainability officer at FTSE 250 FMCG PZ Cussons, overseeing the sustainability strategy and implementation internationally.
  Gluzman was previously group director of sustainability for Avon Cosmetics and group director of ESG engagement at the B
  
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• M&S to open new flagships in Bath and Bristol

  02-07-2024 13:42 via retailgazette.co.uk
  
  M&S has unveiled plans to open two new flagship stores in Bath and Bristol as it continues to invest in strengthening its bricks-and-mortar offer.
  The new stores total an investment of £38m, which the high street retailer said will offer customers “the very best of M&S Food, Clothing and Beauty”.
  M&S will relocate its central Bath location to open an 83,000sq ft store in SouthGate Shopping Centre, which will see staff at its current Stall Street store given the oppo
  
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• Asda poaches ecommerce boss from Iceland

  02-07-2024 13:22 via retailgazette.co.uk
  
  Asda has hired Iceland group chief customer, marketing and digital officer David Devany as its new vice president for ecommerce.
  Devany has worked at the frozen food retailer for eight years and has held his current role since 2020. He will focus on growing Asda’s presence in the online market.
  The supermarket recently revealed it had achieved record online grocery sales in 2023, as sales hit £3.2bn. It ended the year with its highest ever online grocery market share of 20.8%.
  A
  
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• M&S, JD Sports and Sainsbury’s slammed by shareholders over low pay

  02-07-2024 12:34 via retailgazette.co.uk
  
  Retailers including JD Sports, Sainsbury’s, and M&S are facing shareholder backlash for not committing to pay all their employees and third-party contractors a real living wage.
  Major financial institutions such as LGIM, HSBC Asset Management, Aviva, and Scottish Widows are backing a campaign against low pay, collectively managing $6.6tn (£5.2 tn) in assets.The campaign, spearheaded by responsible investment group ShareAction, aims to challenge several retailers, including Tesco,
  
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• Sainsbury’s boss says rate cuts needed to spur consumer spending; eurozone inflation dips to 2.5% – business live

  02-07-2024 12:06
  
  Simon Roberts says consumer caution ‘not surprising given everything households have been through in the cost of living crisis’Services is estimated to have the highest annual rate in the eurozone in June, of 4.1% – stable compared with May.This is followed by food, alcohol & tobacco at an annual rate of 2.5%, down from 2.6% in May; industrial goods at 0.7%, stable compared with May; and energy at 0.2%, down from May’s 0.3% rate. Continue reading...
  
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• Sainsbury’s sales growth slows as poor weather hits non-food ranges

  02-07-2024 11:40
  
  Euro 24 lifts TV sales at Argos but purchases of clothing, paddling pools and garden furniture fallBusiness live – latest updatesSainsbury’s has said sales growth slowed in recent weeks as food inflation eased and as consumers shop “more cautiously” amid poor weather and the cost of living crisis.Sales at established stores rose 3% in the three months to 22 June compared with a rise of 4.8% in the previous quarter, excluding fuel and the impact of the closure of the group
  
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• Eurozone inflation dips in June; Sainsbury’s sales slow despite Euro 2024 boost – business live

  02-07-2024 11:15
  
  Inflation in 20-nation eurozone falls to 2.5% from 2.6%Services is estimated to have the highest annual rate in June, of 4.1% – stable compared with May.This is followed by food, alcohol & tobacco at an annual rate of 2.5%, down from 2.6% in May; industrial goods at 0.7%, stable compared with May; and energy at 0.2%, compared with 0.3% in May. Continue reading...
  
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• Frasers Group acquires Frenchgate Shopping Centre in Doncaster

  02-07-2024 09:55 via retailgazette.co.uk
  
  Frasers Group has acquired Frenchgate Shopping Centre in Doncaster as it continues to grow its real estate portfolio.
  The 770,000sq ft shopping centre is located within the town centre, welcoming over 16m customers a year, and houses retailers such as Next, H&M and TK Maxx.
  Frasers said the deal provides an opportunity to more than triple the size of its Sports Direct shop to over 35,000sq ft and introduce more of its brands – USC, Game and Evans Cycles – into the store. Related
  
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• Shoe Zone trims profit guidance

  02-07-2024 09:53 via theretailbulletin.com
  
  Shoe Zone has cut its full year profit guidance as it continues to experience cost pressures due to higher than usual shipping cots. Further to its... View Article
  
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• Elemis opens first standalone store

  02-07-2024 09:53 via theretailbulletin.com
  
  Beauty brand Elemis has chosen London’s Covent Garden for the opening of its first-ever standalone store. Situated at 23 Monmouth Street in Seven Dials, the 1,000... View Article
  
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• Sainsbury’s sales slow as poor weather hits non-food ranges

  02-07-2024 09:49
  
  Euro 24 lifts TV sales at Argos, but purchases of clothing, paddling pools and garden furniture fallBusiness live – latest updatesSainsbury’s said sales growth slowed in recent weeks as food inflation eased and as consumers shop “more cautiously” amid poor weather and the cost of living crisis.The supermarket said sales at established stores rose 3% in the three months to 22 June compared with a rise of 4.8% in the prior quarter, excluding fuel and the impact of the closu
  
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• Richemont taps Vacheron Constantin head to lead Cartier brand

  02-07-2024 09:30 via ft.com
  Move comes weeks after chair Johann Rupert reshuffled leadership and appointed new CEO for Swiss luxury group
  
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• Ikea to open Fifth Avenue store

  02-07-2024 09:27 via retailgazette.co.uk
  
  Ikea is set to open a new store on New York’s Fifth Avenue after its owner’s investment arm snapped up a stake in a 1,000,000sq ft mixed-use commercial building on the famous street.
  Ingka Investments revealed on Monday it had invested in 570 Fifth Avenue, which is currently being built into a new Class-A retail and office tower by Extell Development.
  It said that part of the building’s 80,000sq ft retail space arranged over two large cellar levels will include Ikea’s sma
  
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• Shoe Zone issues profit warning amid rising shipping costs

  02-07-2024 09:25 via retailgazette.co.uk
  
  Shoe Zone plunged this morning (2 July) as the business warned high shipping costs would hit its profits this year.
  The retailer said it had “continued to experience cost pressures associated with container prices due to a reduction in the supply of shipping vessels”.
  It noted that paired with the continuation of a reroute away from the Suez Canal amid the ongoing attacks in the Red Sea, container prices have “risen significantly over the last six months”.
  As a result, Sh
  
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• Sainsbury’s boosted by strong performance in food

  02-07-2024 09:13 via theretailbulletin.com
  
  Sainsbury’s has hailed its “market-beating” grocery performance as it announced a 4.2% increase in first quarter sales. In a trading statement, the supermarket said its food... View Article
  
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• Sainsbury’s toasts ‘market-beating grocery performance’ as food sales surge

  02-07-2024 09:01 via retailgazette.co.uk
  
  Sainsbury’s said it experienced the “biggest market share gains of any grocer” during the quarter as more customers flocked to its supermarkets for their weekly shop.
  Sales at the supermarket surged 4.2% in the 16 weeks to 22 June, with a strong 4.8% growth in grocery helping to offset a 4.3% decline in clothing and general merchandise.
  It noted that the 4.3% decline reflected an improvement in clothing trends offset by weaker seasonal general merchandise sales, with the catego
  
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• Sainsbury’s sales slow despite Euro 2024 boost; eurozone inflation expected to slow – business live

  02-07-2024 08:49
  
  Supermarket battles ‘tough trading backdrop’ on clothing and general merchandise amid poor weather and cost of living crisis with Argos sales down 6.2%Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Sales at Sainsbury’s have slowed despite a 25% jump in people buying TVs during Euro 2024, partly because of a big drop in sales at its Argos chain.Consumers continue to shop general merchandise more cautiously but respond t
  
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• Virgin Wines makes three key appointments to drive growth

  02-07-2024 08:41 via theretailbulletin.com
  
  Online wine retailer Virgin Wines has made three senior management appointments to help drive growth. Danny Cooper and Gareth Beaty have been hired for the respective... View Article
  
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• Virgin Wines makes three senior management appointments to drive growth

  02-07-2024 08:03 via theretailbulletin.com
  
  Online wine retailer Virgin Wines has made three senior management appointments to help drive growth. Danny Cooper and Gareth Beaty have been hired for the respective... View Article
  
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• Gunwharf Quays to host ‘Tree of Pride’ this month

  02-07-2024 08:03 via theretailbulletin.com
  
  Gunwharf Quays is hosting a ‘Tree of Pride’ this month to celebrate the Portsmouth Pride event. The designer outlet centre will also be inviting shoppers to decorate... View Article
  
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• Amazon’s international unit on track to swing into annual profit

  02-07-2024 06:00 via ft.com
  Change in fortunes comes after tech giant reorganises its warehouses and delivery operations in key overseas markets
  
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• UK shop prices fall in June as cost of living crisis eases

  02-07-2024 01:01 via ft.com
  British Retail Consortium says next prime minister will benefit from supermarkets’ effort to keep costs down
  
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• Next UK government poised to benefit from fall in inflation and fuel prices

  02-07-2024 01:01
  
  Pressure on household finances eases as shop price rises slow to 0.2% and petrol costs drop for second monthBritain’s next government is poised to benefit from easing pressure on household finances after a slowdown in inflation in stores and a fall in fuel prices, but costs remain “too expensive” for many families.Figures from the British Retail Consortium (BRC) show that annual UK shop price inflation cooled last month to 0.2%, down from 0.6% in May – the slowest pace si
  
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• Data: Discounting helps drive down shop price inflation

  02-07-2024 01:01 via retailgazette.co.uk
  
  Shop price inflation has sunk to its lowest level since October 2021 as retailers turn to discounting to drive sales.
  The British Retail Consortium (BRC) and NielsenIQ found prices edged up 0.2% in June, down from 0.6% the month before, marking its lowest annual growth in more than two and half years.
  Non-food prices remained in deflation at -0.1%, down from -0.8% in May.
  Food inflation fell back to 2.5% in June, compared with the 3.2% drop the month before, making it the fourteenth consecutive
  
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