Retail news

• Betty Halbreich, personal shopper, 1927-2024

  06-09-2024 20:00
  Stylist to Manhattan’s elite at Bergdorf Goodman, she was famous for her frank critiques and indifference to how much clients actually spent
  
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• EG Group delivers strong Q2 amid ‘standout’ USA and Europe performance

  06-09-2024 18:01 via retailgazette.co.uk
  
  EG Group has seen a 12% increase in underlying EBITDA in its second quarter, reaching £214m ($282m), driven by strong performances in both the US and Europe.
  The forecourt giant’s gross profit rose 5% on a like-for-like basis, thanks to strong performances across its fuel and grocery & merchandise divisions.
  Across the pond, EBITDA surged by over 25% due to successful initiatives in dispensed beverages and improved margins in its grocery & merchandise arm.
  While Europe saw a
  
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• TPG in talks to buy stake in Vinted at €5bn valuation

  06-09-2024 17:57
  
  US private equity group’s interest highlights growing demand for second-hand goods from consumers and investors
  
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• Asos to charge shoppers who regularly return large amounts of goods

  06-09-2024 17:24
  
  Online fashion retailer writes to some customers to say they face £3.95 fee unless they keep up to £40 of orderBusiness live – latest updatesAsos is to start charging UK shoppers who frequently return large amounts of goods a fee of £3.95 to send items back unless they keep up to £40 worth of their order.The online fashion retailer, which until now has made free returns of unused items within 14 days an important part of its offer in Britain, has written to some sho
  
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• ‘We’ve not had a summer’: retailers battle unpredictable British weather

  06-09-2024 17:14
  
  Soggy summers and warmer winters are hitting sales as climate crisis blurs seasonsWhen the season switched from summer to autumn, like clockwork clothing stores would swap out the racks of floaty frocks and fill them with heavy coats and jumpers.Now, as the nights draw in, retailers are having to rejig seasonal ranges as the UK’s unpredictable weather calls for summer jackets and lighter knits. Continue reading...
  
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• Asos targets serial returners with new £3.95 fee

  06-09-2024 16:42 via retailgazette.co.uk
  Asos is updating its returns policy, introducing a fee for customers who return items regularly.
  The online fashion giant is rolling out a £3.95 fee for customers with a high return rate from 8 October unless they keep at least £40 worth of items to avoid the charge.
  Asos Premier members, who pay £9.95 annually for benefits like free next-day delivery, will also be affected, though they will only need to retain £15 worth of goods to bypass the fee.
  The retailer said the
  
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• The Entertainer bolsters top team as it eyes international growth

  06-09-2024 14:21 via retailgazette.co.uk
  
  The Entertainer has strengthened its executive team as it looks to grow its wholesale and international business.
  The toy specialist has appointed Brian Proctor as chief product officer, which will bring together the buying, merchandising and marketing functions to speed up the go-to-market process on products, Toy World reported.
  Proctor joins from TK Maxx owner TJX Europe, where he has spent almost two decades as its divisional merchandise manager. Prior to that, he held roles in Tesco, Debenh
  
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• Blank Street opens first store in Birmingham

  06-09-2024 12:37 via theretailbulletin.com
  
  Cult coffee brand Blank Street has opened its first store in Birmingham at the Bullring shopping centre. In its first two years in the UK, Blank... View Article
  
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• Topshop could return to high street as Asos sells majority stake

  06-09-2024 12:11 via retailgazette.co.uk
  
  Topshop and Topman could be set for a high street comeback following a £135m deal between Asos and Danish investment firm Heartland.
  Asos boss José Antonio Ramos Calamonte hinted that the iconic fashion brands, which have been absent from physical stores Arcadia’s collapse in 2020, could start reopening brick-and-mortar locations.
  The chief executive said: “We will consider it for sure but we have no specific agreement to open a certain number.”
  His comments come a
  
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• Primark boss: Cost of shoplifting is ‘now bigger than our bill for rates’

  06-09-2024 12:01 via retailgazette.co.uk
  
  Primark boss George Weston revealed the shoplifting epidemic is costing the fashion retailer more in losses than it pays in business rates.
  The chief executive of owner Associated British Foods told The Sun that theft in the retailer’s stores had become “socially acceptable”, adding that the perpetrators were “facing no consequences”.
  “The cost of shoplifting is now bigger than our bill for rates,” he said.
  Primark has around 191 stores across the UK and
  
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• America’s dollar stores are now living in a Temu world

  06-09-2024 11:46
  
  The Chinese online retailer has made inroads among low-income shoppers
  
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• Owner of 7-Eleven rejects $39bn takeover offer from Canadian rival

  06-09-2024 11:07
  Japanese group says Couche-Tard plan undervalues firm, but leaves door open to higher offerBusiness live – latest updatesThe parent company of the global convenience store chain 7-Eleven has rejected a near $39bn (£29.6bn) takeover offer from a Canadian rival, arguing it “grossly undervalues” the company.Last month, Tokyo-based Seven & i revealed that it had received a bid from Alimentation Couche-Tard setting the scene for what could be Japan’s biggest ever for
  
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• Why has Asos sold Topshop – and what happens next?

  06-09-2024 10:01 via retailgazette.co.uk
  
  Just three years after buying Topshop and Topman, Asos is selling a 75% stake in the iconic British fashion brand, creating a joint venture with Heartland, an investment firm owned by Bestseller owner the Holch Povlsen family.
  Under the joint venture, Asos will retain certain design and distribution rights for the brands, in exchange for a royalty fee, allowing it to continue selling the brands, with the proceeds of the sale set to “significantly strengthen” its balance sheet.
  C
  
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• The Body Shop buyer lines up financing ahead of rescue deal

  06-09-2024 09:50 via retailgazette.co.uk
  
  The expected buyers of The Body Shop are in advanced talks to secure new financing as they finalise a rescue deal.
  Mike Jatania’s Aurea investment firm is looking to secure working capital of roughly £30m from Hilco Capital, Sky News reported.
  Aurea’s acquistion of the beauty brand, which fell into administration earlier this year, is expected to be completed in the coming days. Related StoryAvon owner files for bankruptcy following talcum powder cancer allegations14/08/2024 x
  
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• Gear4music trading in line with expectations as it implements growth strategy

  06-09-2024 09:48 via theretailbulletin.com
  
  Gear4music has said it is on track to deliver revenues of over £150 million in the year to 31 March 2025 as it looks ahead to... View Article
  
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• John Lewis Christmas campaign will consist of three-part series

  06-09-2024 09:47 via retailgazette.co.uk
  
  John Lewis has revealed its Christmas campaign for this year will comprise of a three-part series, kicking off with the re-launch of its “Never Knowingly Undersold” platform on 9 September.
  Designed by advertising firm Saatchi & Saatchi, the campaign will feature three ads, a takeover of the London Underground, and an investment into out-of-home adverts, Campaign Live reported.
  While the first chapter will focus on the “Live Knowingly” campaign, parts two and three wi
  
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• John Lewis brings back Never Knowingly Undersold price promise in new form

  06-09-2024 09:15 via theretailbulletin.com
  
  John Lewis has announced that its Never Knowingly Undersold price promise is returning next week after being “reimagined” for how customers shop today. From 9 September,... View Article
  
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• Currys makes “positive” start to year

  06-09-2024 08:51 via theretailbulletin.com
  
  Currys has said it has made a positive start to its new financial year with market share gains and improved margins. In a trading update, the... View Article
  
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• Never Knowingly Undersold is back – and so is John Lewis

  06-09-2024 08:45 via retailgazette.co.uk
  
  New John Lewis boss Peter Ruis has made quite the statement by bringing back its ‘Never Knowingly Undersold’ price promise, two years after the department store scrapped it.
  The first major move since he joined in January indicates that Ruis – who previously spent 10 years at the department store – is refocusing on what makes John Lewis special.
  “As of Monday, we are bringing back Never Knowingly Undersold,” says Ruis. “This is our brand and has always b
  
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• Primark UK sales hit by poor summer weather

  06-09-2024 08:29 via theretailbulletin.com
  
  Primark is expecting revenue growth of around 4% in the second half if its financial year after sales were boosted by its new store opening programme.... View Article
  
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• H&M Group relaunches Cheap Monday

  06-09-2024 08:22 via theretailbulletin.com
  
  H&M Group has relaunched its Cheap Monday fashion brand with a new denim collection. Originally established in 2004, the brand was known for its skinny jeans... View Article
  
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• The Kroger-Albertsons deal has a chance

  06-09-2024 07:30
  
  Plus the real estate rally
  
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• Battle for Britain’s best brew: budget Asda teabag comes out top

  06-09-2024 07:00
  
  Which? crowns Asda Everyday winner of best cuppa 2024 after blind tasting by 79 ‘experienced and committed’ tea drinkersThe battle for the nation’s best brew is usually a face-off between the usual big-brand suspects. But this year, a supermarket own-brand teabag has come out on top.Asda’s Everyday teabags were crowned the best cuppa of 2024 by the consumer group Which?. The budget brew, which costs £1.20 for 80 bags, achieved the top score of 72% in a blind tasting
  
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• A supply chain crisis hit profits. Now in the clear, Nanushka has big plans

  06-09-2024 06:00
  The accessible luxury brand’s CEO on how they rode out a plunge into the red — and the biggest problem facing emerging fashion labels
  
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• Watchmakers shift from street-level stores to exclusive spaces

  06-09-2024 05:00
  
  Brands hope air of exclusivity can convert high-spending clients to collectors
  
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