Retail news

• Holland & Barrett sales surge amid transformation despite losses growing

  10-07-2024 19:21 via retailgazette.co.uk
  
  Holland & Barrett has increased sales by £81m as more customers headed into its stores, however, losses deepened due to the ongoing investment in its turnaround efforts.
  For the year ended 30 September 2023, pre-tax losses widened from £59.6m to £65.3m as it invested approximately £70m into its stores, technology, and new product development. The health and wellness retailer renovated hundreds of shops to revive its fortunes after a debt buyout by owner LetterOne in N
  
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• Holland & Barrett sales surge amid transformation despite growing losses

  10-07-2024 19:21 via retailgazette.co.uk
  
  Holland & Barrett has increased sales by £81m as more customers headed into its stores, however, losses deepened due to the ongoing investment in its turnaround efforts.
  For the year ended 30 September 2023, pre-tax losses widened from £59.6m to £65.3m as it invested approximately £70m into its stores, technology, and new product development. The health and wellness retailer renovated hundreds of shops to revive its fortunes after a debt buyout by owner LetterOne in N
  
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• Turns out cheapflation was a thing after all

  10-07-2024 18:43
  
  Vimes ‘boots’ revisited
  
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• Walgreens’ woes stand out even in a US pharmageddon

  10-07-2024 17:35
  
  US-listed pharmacy group’s problems have been exacerbated by its struggle to move into healthcare
  
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• Tesco to shut Express stores early if England make Euro 24 finals

  10-07-2024 16:44 via retailgazette.co.uk
  
  Tesco has confirmed it will close its Express stores early on Sunday (July 14) if England reach the Euro 2024 finals.
  The supermarket giant said over 1,800 of its Express stores would close at 7:30pm, instead of the usual 10pm or 11pm, allowing  all its employees to watch the potential final involving England.
  With the final scheduled for Sunday, the retailer’s larger stores will already be closed before the 8pm kick-off time.
  Though Tesco reassured customers that stores would operate
  
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• Tesco to shut Express stores early as England secure Euro 24 final spot

  10-07-2024 16:44 via retailgazette.co.uk
  
  Tesco has confirmed it will close its Express stores early on Sunday (July 14) as England reach the Euro 2024 finals.
  The supermarket giant said over 1,800 of its Express stores will close at 7:30pm, instead of the usual 10pm or 11pm, allowing  all of its employees to watch the final.
  The retailer’s larger stores will already be closed before the 8pm kick-off time. Related StoryData: Who are retail’s highest paid bosses?19/06/2024 x 10:46 PMThough Tesco reassured customers that
  
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• THG’s LookFantastic and MyProtein extend next-day delivery cut-off time

  10-07-2024 16:12 via retailgazette.co.uk
  
  THG has extended the cut-off time for next-day delivery across its beauty and nutrition brands to support the flood of late-night shopping orders it receives.
  Customers shopping on LookFantastic and MyProtein, Espa, Perricone MD will now have until 1am, seven days a week, to place their orders and for it to be delivered the following or same day.
  The guaranteed next-day delivery comes under a new offer from THG Fulfil, the operations division of the group’s Ingenuity arm.
  The service is av
  
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• How omnichannel drives global ecommerce

  10-07-2024 14:30 via theretailbulletin.com
  
  The key to selling to consumers in new territories is understanding their behaviours and preferences, and then choosing a partner with local country, technical and logistics... View Article
  
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• Chris Shearer-Wright’s mission to build a proud and inclusive Oliver Bonas

  10-07-2024 13:35 via theretailbulletin.com
  
  Championing Change in Retail In an industry often driven by commercial targets and customer trends, Chris Shearer-Wright stands out as a beacon of progressive change. As... View Article
  
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• Co-op becomes first retailer to publish socioeconomic pay gap report

  10-07-2024 11:54 via retailgazette.co.uk
  
  Co-op has become the first retailer in the UK to publish a socioeconomic pay gap report, putting a spotlight on the difference in pay between colleagues from different socioeconomic backgrounds.
  The convenience chain said the report will help inform its social mobility strategy and the actions it needs to close the pay gap.
  The business collected voluntary data from 48% of its 57,000 colleagues across the UK between April 2023 to April 2024 and found it has a mean pay gap of 5.2% betwe
  
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• Booktopia will not fill orders and may not issue refunds, say administrators

  10-07-2024 10:57
  
  Customers left out of pocket who placed orders have now become, in effect, unsecured creditorsGet our morning and afternoon news emails, free app or daily news podcastThe administrators handling the collapse of Booktopia have announced that orders placed with Australia’s largest online bookseller will not be filled – and there may be no refunds either.It means out of pocket customers who placed orders prior to the company entering voluntary administration have now become, in effect,
  
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• Travis Perkins names new CEO and chair designate

  10-07-2024 10:56 via retailgazette.co.uk
  
  Travis Perkins has appointed Pete Redfern as its new chief executive officer and Geoff Drabble as chair designate, in two big changes to the building materials giant’s leadership team.
  Construction veteran Redfern will take on the role at the builders merchant from 16 September when Nick Roberts steps down from the top spot.
  Holding over two decades of leadership, operational and finance experience in the construction sector, Redfern was previously a non-executive director at Travis Perkin
  
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• Travis Perkins names new CEO and chair

  10-07-2024 10:56 via retailgazette.co.uk
  
  Travis Perkins has appointed Pete Redfern as its new chief executive and Geoff Drabble as chair designate, in two big changes to the building materials giant’s leadership team.
  Construction veteran Redfern will take on the role at the builders merchant from 16 September when Nick Roberts steps down from the top spot.
  Holding over two decades of leadership, operational and finance experience in the construction sector, Redfern was previously a non-executive director at Travis Perkins for ni
  
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• Holland & Barrett partners with Next on in-store concessions

  10-07-2024 10:55 via theretailbulletin.com
  Holland & Barrett has embarked on a new partnership with Next in which it will launch three new “store within a store” concessions in Next shops... View Article
  
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• James Timpson steps down as CEO of Timpson to focus on new ministerial role

  10-07-2024 10:04 via theretailbulletin.com
  
  James Timpson, the recently appointed Minister for Prisons, Parole and Probation, has stepped down from his position as chief executive of the Timpson shoe repair chain.... View Article
  
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• Adidas to hit highest profit in three years as Nike lags behind

  10-07-2024 10:01 via retailgazette.co.uk
  
  Adidas could see its highest profit margin in three years thanks to the success of its Samba and Gazelle shoes and weaker sales at Nike.
  Rival sporting giant Nike forecast a decline in annual sales at the end of last month, ramping up investor concerns over it falling behind competitors, Reuters reported. 
  While shares at the brand dropped up to 20%, Adidas shares held strong, indicating investors could see Nike’s decline as an opportunity for its rival.
  Tanyard Advisory retail and sp
  
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• Travis Perkins appoints new chief executive

  10-07-2024 09:30 via theretailbulletin.com
  
  Travis Perkins has appointed the former boss of the Taylor Wimpey construction firm as its new chief executive. In a statement, the builders merchant said that... View Article
  
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• Mulberry appoints ex-Ganni boss as new chief executive

  10-07-2024 08:53 via theretailbulletin.com
  
  Mulberry has appointed Andrea Baldo as it new chief executive. He will succeed Thierry Andretta who is stepping down with immediate effect. Baldo previously served as... View Article
  
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• Shein unveils UK investment plans and launches ‘circularity fund’

  10-07-2024 08:43 via retailgazette.co.uk
  
  Shein has pledged to invest £211m (€250m) over the next five years in the UK and Europe, according to Reuters, as it launches a “circularity fund”.
  The fast fashion giant said it had designated £42m (€50m) for “potential investments in R&D or pilot Shein production facilities in Europe or the UK,” and initiatives to help retailers and designers from the region reach more consumers via its marketplace.
  It comes as the retailer revealed it will int
  
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• Shein unveils ‘circularity fund’ to address fashion waste

  10-07-2024 08:43 via retailgazette.co.uk
  
  Shein is introducing a £169m (€200m) “circularity fund” which it claims will address fashion waste, as the brand continues to wait for its London IPO approval.
  Speaking to the Financial Times, executive chairman Donald Tang said it planned to inject the money into start-ups and more established UK and European companies “as soon as possible”.
  He added: “Our financial resources, our scale and leverage [means] we can be, and we will be, a significant guinea
  
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• Shein unveils ‘circularity fund’ alongside UK investment plans

  10-07-2024 08:43 via retailgazette.co.uk
  
  Shein is introducing a £169m (€200m) “circularity fund” which it claims will address fashion waste, as the brand continues to wait for its London IPO approval.
  Speaking to the Financial Times, executive chairman Donald Tang said it planned to inject the money into start-ups and more established UK and European companies “as soon as possible”.
  He added: “Our financial resources, our scale and leverage [means] we can be, and we will be, a significant guinea
  
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• Lidl rewards app to integrate EVC payments

  10-07-2024 08:07 via theretailbulletin.com
  
  Lidl is set to become the first UK supermarket to integrate payment of electric vehicle charging (EVC) within its rewards app. Customers using Lidl’s electric vehicle... View Article
  
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• Aldi reveals locations for next 11 new stores

  10-07-2024 07:41 via theretailbulletin.com
  
  Aldi has announced the locations of its next 11 new stores as it looks to reach more customers across the UK. There will be openings in... View Article
  
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• AO makes £2 million investment into its delivery fleet

  10-07-2024 07:10 via theretailbulletin.com
  
  Online electricals retailer AO is transitioning its fleet of tractor units from diesel to more environmentally friendly compressed natural gas (CNG). The retailer is investing £2... View Article
  
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