Retail news

• Victoria Beckham losses shrink as sales soar 50% at fashion brand

  28-08-2024 15:20
  
  Revamp and expansion into leather and beauty helped ailing label head towards break evenVictoria Beckham’s fashion and beauty business narrowed its losses last year as sales soared by 52% to £89m.The company said sales rose online, at its flagship Mayfair store in central London and through wholesalers, helping cut 2023 losses to £200,000 from £900,000 the year before. Continue reading...
  
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• N Brown relaunches JD Williams website amid digital overhaul

  28-08-2024 13:21 via retailgazette.co.uk
  
  JD Williams owner N Brown has relaunched the fashion retailer’s website as part of an digital overhaul across its three core brands.
  The retailer said its mobile-first platform delivers “a more seamless customer experience, allowing users to effortlessly navigate the site, experience a frictionless checkout process, and receive the same rich experience across mobile devices”.
  The new JD Williams site aslo features improved content from a new content management system, which wil
  
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• N Brown completes new trading website roll out for its three strategic brands

  28-08-2024 12:57 via theretailbulletin.com
  
  N Brown Group has launched a new trading website for its JD Williams midlife retail brand as part of its digital transformation initiative. The move marks... View Article
  
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• Ocado to slash hundreds of prices under fresh price drop

  28-08-2024 12:54 via retailgazette.co.uk
  
  Ocado Retail is slashing prices under its latest Big Price Drop scheme.
  Posting on LinkedIn, the online grocer said it was cutting the prices of more than 450 products by an average of 17%.
  The retaler insisted this was one of the ways it was “continuing to offer reassuringly good value” for customers.
  The announcement comes shortly after Ocado Retail boss Hannah Gibson claimed it had reduced prices to become a “supermarket for all,” despite its reputation as an upmarket
  
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• Kurt Geiger pulls in record profits despite luxury slowdown

  28-08-2024 12:14 via retailgazette.co.uk
  
  Luxury footwear brand Kurt Geiger pulled in record profits bucking the trend of weak demand across the wider market.
  The footwear brand saw profit hit £40m for the year to February, as shoppers increasingly sought out “affordable luxury”.
  The results come as its pricier competitors suffer a decline in sales, with Burberry even recently being demoted from the FTSE 100. Related StoryBurberry faces FTSE 100 demotion as shares fall23/08/2024 x 10:50 PMKurt Geiger’s sales were
  
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• Morrisons cuts prices on over 2,000 products for More Card customers

  28-08-2024 11:16 via theretailbulletin.com
  
  Morrisons has cut the price of over 2,000 products online and in-store for More Card customers. The move has included offering an increased range of products... View Article
  
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• Morrisons slashes prices on 2,000 products for More loyalty members

  28-08-2024 10:55 via retailgazette.co.uk
  
  Morrisons has lowered the price across thousands of products for its More card members as it ramps up investment into the loyalty scheme.
  The supermarket has cut the price on over 2,000 branded and own brand essential items across fridge, freezer and cupboard fillers in store and online.
  It has also added an extra 70 products to its Aldi and Lidl Price Match, which relaunched in February as part of its Low Everyday Price promise. Related StoryMorrisons cuts night shifts amid transformation effor
  
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• Temu owner PPD shares plunge amid ‘inevitable’ profit decline

  28-08-2024 10:50 via retailgazette.co.uk
  
  Temu owner PDD Holdings saw its value decline by over £41bn after the online marketplace missed sales targets.
  The ecommerce giant pulled in sales of £10.3bn (97.1bn yuan) for the three months ended June, below the 100bn yuan previously predicted by analysts.
  Its shares plunged 29% –  wiping £41.6bn off the company’s market value.
  The news comes as the group suffers from competition from the likes of fellow online giants TikTok, Alibaba and Shein, with co-found
  
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• Naked Wines makes progress in returning to profitable growth despite deeper losses

  28-08-2024 09:57 via theretailbulletin.com
  
  Naked Wines has said its company is in “much better shape” than a year ago despite reporting a fall in annual sales and deeper losses. In... View Article
  
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• Naked Wines names new CFO as losses deepen

  28-08-2024 09:54 via retailgazette.co.uk
  Naked Wines has appointed Dominic Neary as its new CFO as it posts widening losses amid a slowdown in demand.
  Neary joins from workplace training consultants Mind Gym, where he helped return the business to profitability and scale its global operations as finance boss.
  It comes as Naked Wines reported it was making “substantial progress” towards a return to profitability despite pre-tax losses deepening to £16.3m, up from £15m, in the 52 weeks to 1 April.
  Sales for the re
  
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• Frasers Group makes strategic investment into Australian retail group

  28-08-2024 09:11 via retailgazette.co.uk
  
  Frasers Group has made a strategic investment into retail and distribution Australian firm Accent Group as it continues its acquisition spree.
  The Sports Direct owner, which snapped up a 14.65% stake in the company, said the move would allow it to grow its presence in Australia and New Zealand, which it described as “a key market in the group’s ambition to become a leading global sports retailer”.
  As part of the partnership, Accent said it intends to offer the Mike Ashley contr
  
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• MAC appoints Emily Bromfield as senior vice president, global marketing

  28-08-2024 08:43 via theretailbulletin.com
  
  MAC Cosmetics has appointed Emily Bromfield as senior vice president, global marketing. Reporting directly to Aïda Moudachirou-Rébois, MAC’s global general manager, she will be responsible for... View Article
  
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• Frasers Group acquires stake in Accent Group to grow presence in Australia and New Zealand

  28-08-2024 08:43 via theretailbulletin.com
  
  Frasers Group has acquired a 14.65% stake in Accent Group, a retail and distribution business in the performance and lifestyle market in Australia and New Zealand.... View Article
  
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• Morrisons cuts night shifts amid transformation efforts

  28-08-2024 08:40 via retailgazette.co.uk
  
  Morrisons is cutting down night shifts for its employees as part of CEO Rami Baitiéh’s transformation plan to revive the chain’s fortunes and reclaim its market share.
  The supermarket chain is moving towards a combination of twilight and early shifts to make to business more efficient, The Telegraph reported.
  Executives said the change was not about saving money, claiming instead that the new times allowed for a better handover between shifts that improved productivity and led
  
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• Ted Baker owner selects US partner to run UK online business

  28-08-2024 08:24 via retailgazette.co.uk
  
  Ted Baker owner Authentic is understood to have struck a deal with its US partner to run the brand’s online operations in the UK and Europe after its remaining stores were shut last week.
  Authentic, which owns Reebok and Hunter Boots, is thought to be announcing the deal with United Legwear and Apparel (ULAC) today (28 August), Sky News reported.
  ULAC is Ted Baker’s operating partner in the US and Canada, and has other partnerships with the likes of Sketchers, Puma North American and
  
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• Asda Opticians launches industry first apprenticeship

  28-08-2024 07:50 via theretailbulletin.com
  
  Asda Opticians is to give optical assistants the chance to become dispensing opticians through a new apprenticeship programme. The move marks the first time that an... View Article
  
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• What do Woolworths and Big W’s starkly different results tell us about Australia’s competition problems?

  28-08-2024 07:14
  
  Amid a cost-of-living crisis, essential goods sectors like supermarkets, energy and banking have reported strong results – and a lack of competition is at the rootFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastIf you want to understand the competition problems in Australia’s corporate sector, take a look at the annual results delivered by Woolworths.Best known for running the country’s biggest chain of supermarke
  
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• I’ve got a beef with my wellingtons warranty – are my boots still under guarantee?

  28-08-2024 07:00
  
  After having them replaced twice for free, it seems the manufacturer is no longer obliged to helpCan I ask what the legal position is concerning guarantees? The reason I ask is that in August 2023 I bought some Jileon wellington boots. Over the year since then I have had these boots replaced twice under guarantee, the first time in January 2024 and again last week. Both times the boots started to leak, and there was absolutely no problem from Jileon in getting replacements.However, when I asked
  
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• Kurt Geiger increases sales by nearly 10% despite tough times for retailers

  28-08-2024 01:01
  
  Handbags and footwear company credits US expansion and cost of living crisis for rising profitsKurt Geiger increased sales by nearly 10% last year as the footwear and handbag retailer said it benefited from fashion fans switching to its more affordable luxuries during the cost of living crisis.The company said its revenues had risen by 9.4% in the year to the end of January 2024. Sales of handbags boomed after it cut prices by 5% compared with three years ago, just as many luxury brands had uppe
  
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