Retail news

• Ann Summers celebrates JG Day with the launch of Knickerbox.com

  16-07-2024 19:53 via theretailbulletin.com
  
  Ann Summers, the iconic multi-channel retailer, celebrates JG Day, honoring former Executive Chair Jacqueline Gold CBE’s birthday, with the milestone launch of Knickerbox.com. This new ‘House... View Article
  
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• Adidas raises its full-year guidance as turnaround plan takes effect

  16-07-2024 19:48
  
  German sportswear brand increases profit outlook for second time in three months
  
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• Adidas raises full-year guidance as turnaround plan takes effect

  16-07-2024 19:48
  German sportswear brand increases profit outlook for second time in three months
  
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• The Perfume Shop profits dip amid ‘strongly competitive’ retail environment

  16-07-2024 17:34 via retailgazette.co.uk
  
  The Perfume Shop saw profits dip in its full-year results as it grappled against a “challenging and strongly competitive” retail environment.
  Profits at the retailer fell from £21m in 2022 to £18.6m for the year ended 30 December 2023, as the business noted that consumer sentiment remained subdued as inflationary pressures and high interest rates continued to dent disposable income.
  However, sales at the cosmetics business, which is currently in the midst of a price freez
  
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• UK grocery inflation falls to 1.6%; Fed chair Powell hints at US rate cuts – as it happened

  16-07-2024 16:01
  
  Live, rolling coverage of business economics and financial markets as Kantar data shows pressure easing on UK shoppers, and the Fed hints at nearer term rate cutsCineworld has reportedly launched talks with its commercial landlords, including Landsec and Legal & General, about plans to cut a quarter of its cinemas in Britain as part of a restructure plan.Sky News is reporting that the property owners, which together own about 30 of its multiplexes, are in active discussions with Cineworld ah
  
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• Ocado’s transformation tale is a leap of faith

  16-07-2024 15:53
  It is now a cliché to say that the British retail technology group promises jam tomorrow
  
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• Ocado shares jump as it narrows losses and boosts technology business

  16-07-2024 14:38
  
  Revenues from tech arm, which sells robots to retailers, climbed by nearly 22% in six months to JuneShares in Ocado jumped by as much as 18% after the UK online grocer reported narrowing losses and raised its annual guidance for its technology arm, which sells warehouse robots to other retailers around the world.Technology revenues climbed by nearly 22% year on year in the six months to 2 June, while retail revenues were also up by 11%. Ocado sells groceries in the UK through its joint venture w
  
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• American Golf expands personalisation service to corporate clients and golf societies

  16-07-2024 14:00 via theretailbulletin.com
  
  American Golf has launched a new service for companies, golf societies, charities and tour groups in which it will provide personalised clothing for large events. With... View Article
  
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• Greggs unveils new national distribution centre to drive growth

  16-07-2024 13:35 via retailgazette.co.uk
  
  Greggs has unveiled plans for a new national distribution centre in North Northamptonshire, in partnership with property developer Tritax Symmetry.
  The proposed centre, which will be based at Symmetry Park in Kettering, includes 311,551 sq ft of logistics space on a 25.1-acre plot. The site is expected to open in the first half of 2027, subject to planning.
  The initiative comes under the food company’s strategic growth plan, announced in 2021, which set out expansion targets requiring inve
  
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• Sosandar swings to loss despite sales boost

  16-07-2024 13:31 via retailgazette.co.uk
  
  Sosandar has confirmed its first UK store locations as it reveals the business swung to a loss in its last financial year.
  The fashion retailer, which is in the process of shifting to a multichannel model, said it will open its first shops in Chelmsford, Essex, and Marlow in Buckinghamshire this September.
  It comes as the retailer reported it had swung to a loss of £0.3m for the year to 31 March, from a profit of £1.59m the year before, as a boost in profit during its second half to
  
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• Falling inflation, football and fake tan fuel UK retail spending

  16-07-2024 12:59
  
  Sales at supermarkets rise as consumer confidence improves, only slightly dampened by wet weatherBusiness live – latest updatesFalling inflation, football fans and fake tan drove supermarket shopping in recent weeks, when improving consumer confidence and excitement around the men’s Euros tournament were only slightly dampened by wet weather.Sales at supermarkets increased by 2.2% year on year over the four weeks to 7 July, with football fans driving up purchases of beers, crisps and
  
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• How the new UK Government’s crypto regulations could affect retail

  16-07-2024 12:57 via theretailbulletin.com
  
  The UK is introducing new regulations for cryptocurrencies and stablecoins, intending to make the country a preferred destination for the crypto industry. With the new government’s... View Article
  
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• UK grocery inflation falls to 1.6%; Fed chair Powell hints at US rate cuts – business live

  16-07-2024 12:52
  
  Live, rolling coverage of business economics and financial markets as Kantar data shows pressure easing on UK shoppers, and the Fed hints at nearer term rate cutsCineworld has reported launched talks with its commercial landlords, including Landsec and Legal & General, about plans to cut a quarter of its cinemas in Britain as part of a restructure plan.Sky News is reporting that the property owners, which together own about 30 of its multiplexes, are in active discussions with Cineworld ahea
  
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• Waitrose grows market share for first time in two years

  16-07-2024 12:26 via retailgazette.co.uk
  
  Waitrose has grown its market share for the first time in two years as investments into its food range pay off.
  Kantar’s supermarket share and inflation update showed that spending at the upmarket grocer edged up 3.3%, helping to lift its market share by 0.1 percentage point to 4.5%.
  It is the first time Waitrose has experienced an increase in its market share since January 2022 and comes after the retailer has made several investments into strengthening its food offer, including relaunchi
  
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• Sephora to open sixth UK store at Birmingham’s Bullring

  16-07-2024 12:09 via retailgazette.co.uk
  
  Sephora is set to open its sixth UK store in the Bullring & Grand Central shopping centre in Birmingham’s city centre this winter.
  Customers will be able to shop from a selection of brands across makeup, travel, fragrance, skincare, haircare, grooming and wellness, including exclusive to Sephora UK brands such as Mario, GXVE by Gwen Stefani, Haus Labs by Lady Gaga and Topicals.
  The new store is the latest addition to the retailer’s growing portfolio, following a launch in Manches
  
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• Ocado boss claims rapid delivery will never be as large as big basket market

  16-07-2024 11:48 via retailgazette.co.uk
  
  Ocado Group CEO Tim Steiner has said he doesn’t think the rapid grocery delivery market will ever be as large as the big basket market.
  Questioned on whether the supermarket still needed its Ocado Zoom quick commerce service after several rivals, such as Getir and Gorillas, have pulled out of the market, Steiner said he thought there was still a “demand for ultra-fast services”.
  However, he pointed out that delivering a quick delivery service came at “a price premium in t
  
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• Poundland doubles down on £1 lines in latest price campaign

  16-07-2024 10:40 via retailgazette.co.uk
  
  Poundland is doubling down on its £1 heritage in its latest price campaign.
  The discount chain is using new instore signage to highlight that more than 1,000 of its grocery items available in every store cost £1 or less.
  While the retailer has expanded its ranges in recent years, a third of its products still sit at the £1 price point or below. Related StoryPoundland rolls out new rewards scheme across UK13/06/2024 x 7:34 AMPoundland said it “remains committed to offering
  
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• Ocado reports narrowed first half loss

  16-07-2024 10:16 via theretailbulletin.com
  
  Ocado has said it is continuing to make financial, operational and strategic progress as it announced that its first half loss had narrowed. In the 26... View Article
  
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• Greggs to open new distribution centre in Kettering

  16-07-2024 10:06 via theretailbulletin.com
  
  Greggs is to open a new distribution centre in Kettering as it looks to expand its supply chain due to its growing number of shops in... View Article
  
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• Ocado shares surge after profit forecast upgrade

  16-07-2024 09:45
  UK online grocer says technology business will achieve margin in mid-teens, up from previous guidance of more than 10%
  
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• Sosandar hails robust full year performance

  16-07-2024 09:37 via theretailbulletin.com
  
  Women’s fashion retailer Sosandar has said it put in robust performance in the year to 31 March as it focused on margin, profitability and cash generation. ... View Article
  
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• B&M posts first quarter revenue uplift

  16-07-2024 09:37 via theretailbulletin.com
  
  B&M has posted a 2.4% increase in first quarter revenue to £1.34 billion after trade was boosted by a “disciplined” store opening programme across its three... View Article
  
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• Superdry founder: We will become cool again

  16-07-2024 09:36 via retailgazette.co.uk
  
  Superdry founder and chief executive Julian Dunkerton has promised the struggling retailer that observers claim has become a “dad brand” will become cool again as he begins work on its turnaround plan.
  Dunkerton told The Telegraph that the fashion retailer will be “so much more relevant” after it delisted from the London Stock Exchange this week after 15 years.
  He said the next few months will be about “reinvention” as he looks to reverse the company’s f
  
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• B&M first quarter sales rise

  16-07-2024 09:14 via retailgazette.co.uk
  
  B&M has reported a rise in first quarter sales as shoppers continue to seek out bargains at the value retailer.
  Sales for the discount chain edged up 2.4% to £1.34bn in the 13 weeks to 29 June, which it attributed to volume growth and a disciplined store opening programme across the group.
  However, like-for-likes at its core UK business fell 3.5%, which it attributed to “exceptionally strong comparatives” last year and poor weather in April and May this year.
  Despite the we
  
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• US Federal Reserve may cut rates before inflation hits 2% target, Powell hints – business live

  16-07-2024 09:10
  
  Live, rolling coverage of business economics and financial markets as Fed chair Jerome Powell says the central bank wants “greater confidence” that inflation will reach its targetEuropean markets are open for trading and major indexes are all in the red this morning:EUROPE’S STOXX 600 DOWN 0.5%GERMANY’S DAX DOWN 0.6%BRITAIN’S FTSE 100 DOWN 0.4%FRANCE’S CAC 40 DOWN 0.6%SPAIN’S IBEX DOWN 0.7%EURO STOXX INDEX DOWN 0.6%,EURO ZONE BLUE CHIPS DOWN 0.6%The impl
  
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• ScS stops selling carpets and flooring

  16-07-2024 08:51 via retailgazette.co.uk
  
  ScS has dropped carpets and flooring from its product range under its new owner Italian furniture giant Poltronesofà.
  The Sofa Carpet Specialist has removed its flooring ranges both in store and online, Retail Week reported.
  It is understood that despite investment into the division, which used to represent 8% of total sales, ScS had not made any market share gains in the category. Related StoryThe retailer assured customers that all remaining orders will be fulfilled and all warranties a
  
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• Tala secures £5 million funding boost as it looks ahead to international expansion

  16-07-2024 08:44 via theretailbulletin.com
  
  Responsibly made activewear brand Tala has secured a further £5 million in funding as it looks to expand internationally. Pembroke VCT, who participated in an investment... View Article
  
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• Superdry shares begin trading on new share dealing platform

  16-07-2024 08:44 via theretailbulletin.com
  
  Superdry has announced that its shares have been admitted to trade on JP Jenkins share dealing platform. The news follows the fashion brand’s last day of... View Article
  
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• Ocado narrows losses as online grocery booms

  16-07-2024 08:38 via retailgazette.co.uk
  
  Ocado Group has narrowed its half-year losses as it capitalises on more shoppers choosing to order their groceries online.
  The grocery technology giant reported its loss before tax had almost halved to £153.9m in the 26 weeks to 2 June, compared to the £289.5m loss the year before.
  Sales rose 12.6% to £1.54bn, with its technology solutions business surging 22% to £241m and it’s logistics arm advancing 6% to £354m.
  Ocado said its retail business – a joint
  
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• As Carpetright puts administrators on standby, what went wrong?

  16-07-2024 08:32 via retailgazette.co.uk
  
  Carpetright put administrators on standby last week as it rushes to secure new investment and avoid insolvency.
  The flooring specialist filed a notice of intention with London’s High Court on Friday just a day after it was reported the business had approached PwC to launch a formal sale process.
  The retailer, which has suspended its online operations, said it was seeking a “period of protection” whilst it worked to finalise additional investment and that it would continue to tr
  
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• Can Amazon save luxury US department stores?

  16-07-2024 06:00
  With high-end goods makers keen to sell more directly to consumers, the business model desperately needs a makeover
  
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• Luxury brands roll out 50% discounts as Chinese shoppers rein in spending

  16-07-2024 03:47
  
  Country’s once-voracious middle-class consumers have become more frugal
  
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• Tala secures £5m investment to fuel US expansion

  16-07-2024 01:01 via retailgazette.co.uk
  
  Activewear brand Tala has secured £5m in funding to help fuel its international expansion.
  The business said it planned to use the investment from Pembroke VCT to target the US market following significant customer and social media traction overseas.
  Tala added the funds will also be used to enhance its infrastructure and team capabilities, as well as explore further opportunities to establish a physical presence on the high street.
  The brand launched shop-in-shops in Selfridges’ dep
  
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