Retail news

• At Asda and Morrisons it was always about financial engineering | Nils Pratley

  20-08-2024 19:57
  
  Their need to keep the buyout arithmetic on track has been a drag on performance, and neither deal was aimed at growthPrivate equity sometimes gets “a bad rap” and generally makes its returns by growing businesses rather than via “financial engineering”, opined Andrew Higginson, then chair of the supermarket chain Morrisons, when his board agreed to sell to the buyout firm Clayton Dubilier & Rice for £7bn in 2021. Really?Three years on, there is no sign of growt
  
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• Asos shareholders approve new executive pay plan

  20-08-2024 18:00 via retailgazette.co.uk
  
  Asos shareholders have approved the fashion retailer’s new executive pay plan, which it said better aligns with its “ambitious growth plans”.
  Almost 92% of shareholders have voted in agreement for the etailer to replace its long term incentive scheme with a Value Creation Plan (VCP).
  Asos said earlier this month that the VCP aims to “incentivise its senior leaders to deliver exceptional value for shareholders through substantial growth in the company’s share pr
  
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• Tesco poaches Costa Coffee marketing director

  20-08-2024 17:59 via retailgazette.co.uk
  
  Tesco has poached Costa Coffee global commercial, marketing and innovation director Becky Brock as its new customer and digital director.
  Brock, who joined Britain’s largest supermarket in June, has been tasked with leading the customer teams and managing its loyalty, digital and insight agenda as it moves towards a more digitally enabled operating model.
  She will also be responsible for creating new revenue streams for the grocery giant from data and personalisation, Campaign Live reporte
  
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• Two former BHS directors ordered to pay £110m to creditors

  20-08-2024 15:59
  
  Dominic Chappell and Lennart Henningson breached their corporate duties at retailer by continuing to tradeBusiness live – latest updatesTwo former bosses of the collapsed department store chain BHS have been ordered to pay £110m to creditors in relation to breaching their corporate duties.The ruling against Dominic Chappell, the former chief executive of BHS whose Retail Acquisitions team bought the chain for £1 from Philip Green in 2015, and his former colleague Lennart Hennin
  
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• The Perfume Shop opens upgraded experiential store in Dunfermline with sustainable features

  20-08-2024 15:09 via theretailbulletin.com
  
  The Perfume Shop celebrated the scent-sational new addition of another new and improved experiential store at Kingsgate Centre, Dunfermline. The iconic retailer revealed a new and... View Article
  
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• Lucy & Yak 2024 impact report highlights ethical and sustainable progress

  20-08-2024 15:09 via theretailbulletin.com
  
  UK-based fashion brand Lucy & Yak have released its 2024 Impact report which emphasises its commitment to ethical practices and sustainability. Founded in 2017, the company... View Article
  
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• Oxfam partners with Vinted for star-studded Second Hand September fashion show 

  20-08-2024 14:43 via theretailbulletin.com
  
  Oxfam has announced a new partnership with Vinted, the online marketplace dedicated to second-hand fashion, for the organisation’s star-studded fashion show at London Fashion Week this... View Article
  
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• KEF Blends sound innovation and digital art in ‘Re-Absorbed’ exhibition

  20-08-2024 14:43 via theretailbulletin.com
  
  KEF, the renowned British audio pioneers, have announced the launch of “Re-Absorbed,” an innovative exhibition that merges cutting-edge acoustic technology with digital artistry. Set to take... View Article
  
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• What is the difference between Omnichannel and Multichannel retailing?

  20-08-2024 14:02 via theretailbulletin.com
  
  Retailers interested in increasing customer engagement and revenue must identify the distinction between omnichannel and multichannel retailing. This is crucial in order to meet customers’ expectations... View Article
  
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• Little Mistress gears up to widen physical store estate

  20-08-2024 13:47 via retailgazette.co.uk
  
  Occasionwear brand Little Mistress is preparing to widen its bricks and mortar store estate.
  The London-based retailer’s founder and managing director Mark Ashton revealed that it was seeking opportunities for pop-up stores in and around the capital, Retail Week reported.
  Ashton said it was ideally looking for spaces that were ready for an immediate move-in, and those with flexible terms to accomodate its upcoming projects. Related StoryGlobal fashion retailers divert Bangladesh orders due
  
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• Little Mistress gears up to expand physical store estate

  20-08-2024 13:47 via retailgazette.co.uk
  
  Occasionwear brand Little Mistress is preparing to grow its bricks-and-mortar store estate.
  The London-based retailer’s founder and managing director Mark Ashton revealed that it was seeking opportunities for pop-up stores in and around the capital, Retail Week reported.
  Ashton said on LinkedIn that it was “ideally looking for spaces that were ready for an immediate move-in, and those with flexible terms to accommodate its upcoming projects”. Related StoryGlobal fashion re
  
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• Holland & Barrett targets garden centres in small-format rollout

  20-08-2024 13:24 via retailgazette.co.uk
  
  Holland & Barrett is targeting garden centres as it continues the rollout of its small-format concessions.
  The health and wellness retailer opened a new concession in independent garden centre Gates, in Oakham, Leicestershire, this week, The Grocer reported.
  The smaller-format store stocks a limited range of H&B lines, including its core vitamins, health supplements and wellness ranges, as well as a limited range of fresh food, chilled drinks and ambient snacks.
  Holland & Barrett is
  
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• Holland & Barrett targets concessions in garden centres

  20-08-2024 13:24 via retailgazette.co.uk
  
  Holland & Barrett is eyeing garden centres as it continues the rollout of its small-format concessions.
  The health and wellness retailer opened a new concession in independent garden centre Gates in Oakham, Leicestershire, this week, The Grocer reported.
  The concession stocks a limited range of Holland & Barrett lines, including its core vitamins, health supplements and wellness ranges, as well as a limited range of fresh food, chilled drinks and ambient snacks.
  The retailer is understoo
  
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• Hobbycraft owner closes in on sale

  20-08-2024 13:22 via retailgazette.co.uk
  
  Hobbycraft is close to being sold to specialist retail investor Modella Capital after its private equity owner Bridgepoint put the chain up for sale earlier this year.
  The investor is in advanced talks to buy the arts and crafts chain with a deal understood to be made within days, Sky News reported.
  It is unclear how much Modella will pay for the retailer, however, it was previously reported that Bridgepoint may only fetch a fraction of the £100m it paid for it in 2010. Related StoryHobbyc
  
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• Hobbycraft owner close to offloading chain

  20-08-2024 13:22 via retailgazette.co.uk
  
  Hobbycraft is close to being sold to specialist retail investor Modella Capital after its private equity owner Bridgepoint put the chain up for sale earlier this year.
  The investor is in advanced talks to buy the arts and crafts chain with a deal understood to be made within days, Sky News reported.
  It is unclear how much Modella is likely to pay for the retailer, however, it was previously reported that Bridgepoint may only fetch a fraction of the £100m it paid for it in 2010. Related Sto
  
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• Dr Martens launches trade-in initiative at London stores

  20-08-2024 11:11 via retailgazette.co.uk
  
  Dr Martens has launched a trade-in initative for its London stores, giving customers a discount on new boots by handing in any pair of worn shoes.
  From this week, customers can drop off any make of boots into the specifically designed bins in store and receive a 20% discount towards a new pair of Dr Martens boots.
  The programme will initially run for a 8 week trial. The British bootmaker is working with a recycling partner in Nottingham where all the pairs that are brought in will be ground down
  
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• Co-op rolls out initiative to create over 600 early years sector apprenticeships

  20-08-2024 10:55 via retailgazette.co.uk
  
  Co-op is creating more than 600 apprenticeships for the early years industry with The Royal Foundation Business Taskforce for Early Childhood.
  The initiative spans employers across the public, private, voluntary and community sectors that support the wellbeing of young children.
  The supermarket chain has set up the Co-op Levy Share scheme, allowing companies to pledge up to 50% of their yearly unspent apprenticeship levy funds and share them in a targeted way to support the provision of apprenti
  
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• In pictures: Lush unveils permenant Covent Garden store

  20-08-2024 10:48 via retailgazette.co.uk
  
  Lush has opened the doors to its new flagship store in London’s Covent Garden, marking its return to the city’s West End after more than a decade.
  The cosmetics retailer opened the space as a festive pop-up last Christmas and unveiled its permenant store and spa on Friday.
  The 2475 sq ft space at 12-14 Long Acre is stocked with Lush’s hair care, skin and body care including a curated collection of previously discontinued products from the archives loved by the shop team.Related
  
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• In pictures: Lush unveils permanent Covent Garden store

  20-08-2024 10:48 via retailgazette.co.uk
  
  Lush has opened the doors to its new flagship store in London’s Covent Garden, marking its return to the city’s West End after more than a decade.
  The bath bomb specialist opened the space as a festive pop-up last Christmas and unveiled its permanent store and spa on Friday.
  The 2475 sq ft space at 12-14 Long Acre is stocked with Lush’s hair care, skin and body care including a curated collection of previously discontinued products from the archives.Related StoryLush to host pe
  
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• Why Walmart might not be a good proxy for US retail

  20-08-2024 10:35
  
  What is good for Walmart is often bad for rivals
  
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• Co-op sets up scheme to create over 600 apprenticeships for early years sector

  20-08-2024 10:03 via theretailbulletin.com
  
  Co-op is spearheading a scheme that will aim to create over 600 apprentices for the early years sector. Working with other members of The Royal Foundation’s... View Article
  
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• Sosandar signs agreement with Metrocentre for its third UK store

  20-08-2024 09:38 via theretailbulletin.com
  
  Sosandar has announced that it has signed a lease agreement with Gateshead’s Metrocentre for its third UK physical store. The opening in October will follow the... View Article
  
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• Abercrombie & Fitch expands kids brand through new global distribution deal

  20-08-2024 09:14 via theretailbulletin.com
  
  Abercrombie & Fitch has embarked on a new partnership with childrenswear licensee Haddad Brands as it looks to expand the global reach of Abercrombie Kids. In... View Article
  
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• Holland & Barrett pilots world’s first express DNA test across UK stores

  20-08-2024 09:14 via retailgazette.co.uk
  
  Holland & Barrett is piloting the world’s first express DNA test service at select UK stores, offering customers immediate genetic insights for skincare and better sleep.
  The health and wellness retailer has launched the service in fives stores, provided by medical and consumer genetics testing firm DnaNudge, Retail Week reported.
  The in-store test provides results securely to a customer’s smartphone in just 20 minutes. It is currently available at Holland & Barrett stor
  
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• Wilko 2.0: How The Range owner plans to revive the discount chain

  20-08-2024 08:47 via retailgazette.co.uk
  
  It’s coming up to a year since The Range owner Chris Dawson snapped up the Wilko brand out of administration and set about restoring the value chain.
  The self-made billionaire had planned to keep the retailer online only but quickly shifted gears following a nationwide campaign for the brand to return to the high street.
  “I was amazed at the love for the Wilko brand…especially in the north, it was like a bloody national outcry.  I’m pleased to own it and I’m q
  
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• PURESEOUL to open first store in the Midlands at Bullring & Grand Central

  20-08-2024 08:42 via theretailbulletin.com
  
  K-beauty specialist PURESEOUL is to open its first store in the Midlands at Birmingham’s Bullring & Grand Central. Set to launch in September, the store will... View Article
  
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• Sosandar to open third store at Metrocentre

  20-08-2024 08:27 via retailgazette.co.uk
  
  Sosandar has signed the lease for its third store, in the North-East’s Metrocentre.
  The fashion retailer’s new store is set to open in October, just in time for the crucial Christmas trading season, and follows the openings of it first two physical stores in Chelmsford and Marlow, set to launch next month.
  The Metrocentre saw 14.4m visitors in 2023 and Sosandar’s new store will be situated in the Platinum Mall, a section known for its high-end and designer retailers, housing br
  
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• Topps Tiles acquires CTD Tiles out of administration

  20-08-2024 08:16 via theretailbulletin.com
  
  Topps Tiles has acquired the CTD Tiles’ brand and certain assets for £9 million after the company fell into administration. The transaction included 30 stores, the... View Article
  
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• Using Bitcoin for Online Retail Businesses

  20-08-2024 08:00 via theretailbulletin.com
  
  In the course of the adoption of digital currencies, Bitcoin has emerged as a significant part of the online retail business. Due to the fact that... View Article
  
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• US antitrust regulators likely to challenge Couche-Tard’s proposed takeover of 7-Eleven owner

  20-08-2024 07:16
  
  Tie-up between Canadian group and Japan’s Seven & i would create one of America’s largest retail chains
  
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• Canadian bid for 7-Eleven owner likely to face US antitrust scrutiny

  20-08-2024 07:16
  
  Tie-up between Couche-Tard and Japan’s Seven & i would create one of America’s largest retail chains
  
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