Retail news

• Asda’s woes deepen after co-owner of UK’s third-largest supermarket steps back

  18-09-2024 20:02
  Mohsin Issa will relinquish responsibility amid faltering performance, with former M&S boss Stuart Rose stepping in
  
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• Asda’s woes deepen after co-owner of UK supermarket steps back

  18-09-2024 20:02
  Mohsin Issa will relinquish responsibility as company continues search for permanent chief executive
  
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• TGI Friday’s UK future in doubt as owner reveals plan to enter administration

  18-09-2024 19:52
  Brand could disappear, with 87 restaurants and 4,500 jobs at risk after talks over rescue deal collapseThe company behind the UK arm of the TGI Fridays restaurant chain has said it plans to appoint administrators, putting the future of its 87 outlets and 4,500 employees in doubt.The American diner brand could disappear from UK high streets after Hostmore, which is listed on the London stock market, said administrators from advisory firm Teneo would be appointed and its restaurants sold off to ri
  
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• Stuart Rose gets hands-on at Asda. This can’t have been plan A | Nils Pratley

  18-09-2024 19:34
  Awkward interregnum in which former M&S boss is taking charge sums up chaotic progress since purchase from Walmart“We need a full-time fully experienced retail executive to come in,” said Stuart Rose, the chair of Asda, a month ago as he confessed to being “embarrassed” about the supermarket chain’s loss of market share. Now he has found someone who fits the bill temporarily: one Lord Rose of Monewden. He will “assume” day-to-day executive responsibi
  
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• Data: Asda and Aldi market shares plunge as supermarket sales cool

  18-09-2024 18:25 via retailgazette.co.uk
  
  Aldi and Asda have seen their market share fall according to fresh data from analysts NIQ.
  Asda’s share plummeted to 11.8% in the 12 weeks to 7 September, from 13.1% a year ago. Meanwhile, Aldi’s share also slipped from 10.7% to 10.3% over the same period.
  The decline of Asda tallies with rival analyst Kantar’s data, which found that its share had fallen 1.2 percentage points to 12.6% in the 12 weeks to 1 September.
  It follows as Lord Rose, who the grocer revealed today would t
  
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• Frasers Group expands in Holland, Belgium and Luxembourg

  18-09-2024 17:29 via retailgazette.co.uk
  
  Frasers Group has made a series of strategic acquisitions and partnerships in the Benelux region, strengthening its international ambitions.
  In the Netherlands – following the acquisition of Sprinter stores earlier this year – Frasers is opening nine new Sports World stores. Four of these have already opened, with an additional five locations confirmed to open by the end of the year.The group also plans to open two Sports Direct stores in Luxembourg and one in Belgium in th
  
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• Nisa’s Making a Difference Locally celebrates raising £18m

  18-09-2024 17:26 via theretailbulletin.com
  
  Nisa’s Making a Difference Locally charity is celebrating raising £18 million for small causes and community groups across the UK since its inception in 2008. Making... View Article
  
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• Superdrug & Savers Awarded Stonewall Bronze for Workplace Equality Commitment

  18-09-2024 16:59 via theretailbulletin.com
  
  Leading accessible health & beauty retailer, Superdrug, alongside its sister company Savers, has received a Bronze Award in Stonewall’s UK Workplace Equality Index. The Workplace Equality... View Article
  
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• Retailers urged to act as mental health crisis hits call centres and Gen Z

  18-09-2024 16:59 via theretailbulletin.com
  
  Retailers across the UK are being urged to prioritise workplace wellbeing after a report from the Retail Trust revealed that poor mental health is causing significant... View Article
  
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• The Range and Wilko partner with THG for fulfilment services

  18-09-2024 15:31 via retailgazette.co.uk
  
  The Range and Wilko’s parent firm CDS Superstores has partnered with THG Fulfil, the delivery solution from the online group’s Ingenuity arm, which will provide fulfilment and courier management services for the chains.
  The tie-up will support the home, leisure and garden retailers’ omnichannel expansion.
  As part of the agreement, The Range owner will use THG Fulfil’s advanced warehouse automation solutions, which includes a new fleet of Geekplus Goods-To-Person robo
  
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• Pret A Manger hit record £1.1bn as overseas powers growth

  18-09-2024 15:19 via retailgazette.co.uk
  
  Pret A Manger sales surged 22% to £1.1bn in 2023 powered by its international expansion, as the growth continued in its first half of 2024.
  Sales jumped 10% to £569m in the first six months of the year, with same-store sales nudging up 3%.
  Its overseas expansion has taken the coffee and sandwich shop to 18 markets, and now £1 in every £4 now spent by Pret customers outside the UK. Meanwhile, franchising represents a third of sales.New York has become its largest mark
  
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• TGI Friday’s UK future in doubt as owner reveals administration plans

  18-09-2024 13:45
  Brand could disappear with 87 restaurants and 3,000 jobs at risk after talks over rescue deal collapseThe company behind the UK arm of the TGI Fridays restaurant chain has said it plans to appoint administrators, putting the future of its 87 outlets and 3,000 employees in doubt.The American diner brand could disappear from UK high streets after Hostmore, which is listed on the London stock market, said administrators from advisory firm Teneo would be appointed and its restaurants sold off to riv
  
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• Former M&S boss Stuart Rose to run struggling Asda as co-owner steps back

  18-09-2024 12:01
  
  Lord Rose is chair of supermarket and will take over day-to-day duties from Mohsin IssaStuart Rose, the former boss of Marks & Spencer and Topshop, is to take charge of running Asda as the struggling supermarket’s co-owner Mohsin Issa steps back from executive duties amid falling sales.The company said Lord Rose, who is the chair of Asda, will head up the business alongside Rob Hattrell, another director on the supermarket’s board and a partner at its majority shareholder, TDR Ca
  
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• Asda co-owner Mohsin Issa steps back as Rose and ex-eBay boss take charge

  18-09-2024 11:49 via retailgazette.co.uk
  
  Asda has confirmed co-owner Mohsin Issa is stepping back from his executive leadership role to focus on his previously announced position as sole CEO of EG Group.
  Chair Lord Rose will take over the running of the chain, alongside TDR partner Rob Hattrell, the former boss of eBay in Europe and an ex-Tesco executive.
  Issa remains as a co-owner of the supermarket and non-executive on the board.
  Lord Rose said: “We respect Mohsin’s decision to move on from his role at Asda where his work
  
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• Asda co-owner Mohsin Issa to step back from running supermarket

  18-09-2024 11:13
  
  Chair Stuart Rose will take over day-to-day responsibility for UK chain
  
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• Q&A: Donal McGuinness, CEO, Prommt

  18-09-2024 11:06 via theretailbulletin.com
  
  Founded in 2017, Prommt is a payments platform that is revolutionising payments for enterprises and their clients. Its innovative solutions enable fast, frictionless card and open... View Article
  
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• Tupperware files for bankruptcy in US and hunts for new owners

  18-09-2024 10:53
  Food container firm affected by ‘challenging macroeconomic environment’Business live – latest updatesTupperware, the lossmaking 78-year-old American plastic food container brand, has filed for bankruptcy and is on the hunt for new owners as it attempts to lure younger customers.The company, which was founded by the chemist Earl Tupper in 1946 and became known for its patented “burping” seal, has started US chapter 11 bankruptcy proceedings as bosses said that its fi
  
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• Footasylum hails “record” sales and profit performance

  18-09-2024 09:37 via theretailbulletin.com
  
  Footasylum has posted uplifts in sales and profit in the 12 months to 27 January 2024 to mark a further year of record growth. Total revenue... View Article
  
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• Co-op launches 24-hour online grocery deliveries in London, Leeds and Manchester

  18-09-2024 09:37 via theretailbulletin.com
  
  Co-op has launched a new 24-hour grocery delivery service in city centre stores in London, Leeds and Manchester. The convenience retailer said it made the move... View Article
  
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• Moonpig on track to meet full year guidance

  18-09-2024 09:21 via retailgazette.co.uk
  
  Moonpig said it is on track to meet its 2025 guidance despite the ongoing a challenging environment and consumers pulling back on larger gifting.
  In an update this morning, the online retailer said its trading was in line with expectations thanks to “consistent strong sales and orders performance at Moonpig supported by steady progression at Greetz towards positive sales growth”.
  This was despite ongoing macro headwinds in gifting and challenging trading of its Experiences category.
  
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• How big a threat is Tesco’s new online grocery initiative to Ocado?

  18-09-2024 09:13 via retailgazette.co.uk
  
  Tesco unveiled plans to launch a new ecommerce initiative last week, as it seeks to help international supermarket chains develop their online operations, in a similar move to fellow UK grocer Ocado.
  Tesco’s Transcend Retail Solutions, which was set up last year, provides software and hardware to international supermarkets to allow them to fulfil online orders directly from their stores.
  It has inked its first partnership with New Zealand’s grocery retailer, Foodstuffs North Island,
  
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• Footasylum hails record sales and profits

  18-09-2024 09:12 via theretailbulletin.com
  
  Footasylum has posted uplifts in sales and profit in the 12 months to 27 January 2024 to mark a further year of record growth. Total revenue... View Article
  
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• Hotel Chocolat CEO Lysa Hardy

  18-09-2024 09:00 via retailgazette.co.uk
  
  In Retail Gazette’s Secrets of a Retail CEO content series, we get inside the mind of retail’s most senior leaders to find out what makes them tick. We speak with newly appointed Hotel Chocolat CEO Lysa Hardy.
  Tell us about your morning routine.
  I’m a morning person – I like to give myself a couple of hours in the morning to set the tone for the day. I’ll usually do a half hour pilates workout, or incline walk on the treadmill whilst reading.
  If I’m working fr
  
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• Footasylum ‘on track’ for another record year as profits double

  18-09-2024 09:00 via retailgazette.co.uk
  
  Footasylum has more than doubled its pre-tax profits and is “on track for another successful year” thanks to the opening and upsizing of stores.
  The sportswear retailer posted a 112% surge in pre-tax profit to £6m in the year to 27 January, up from £2.8m.
  Sales jumped 7% to £319.5m, boosted by a 15% surge in online revenue to £134.9m and an 87% increase in wholesale sales.
  Womenswear and Juniors, which have been key areas of focus for the business, reported a
  
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• Asda is ‘not where it should be’, says ex-boss

  18-09-2024 08:45 via retailgazette.co.uk
  
  Asda is “not where it should be” following its buyout by private equity firm TDR Capital and the Issa brothers, its former boss has said.
  Walmart’s former international boss Judith McKenna, who led the grocer’s £6.8bn sale in 2021, admitted the supermarket chain’s recent struggles “hurt my heart”.
  Asda’s market share has fallen steadily over the past year as the supermarket battles with massive debt piles and a resource draining project to se
  
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• Waitrose to invest £10 million in lowering prices of 250 No.1 and Duchy Organic products

  18-09-2024 08:41 via theretailbulletin.com
  
  Waitrose is investing £10 million in reducing the prices of popular, premium and organic products as part of the first phase of its latest round of... View Article
  
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• Kingfisher raises bottom end of full year profit guidance

  18-09-2024 08:41 via theretailbulletin.com
  
  B&Q owner Kingfisher has raised the bottom end of its full year profit guidance despite demand for big ticket home improvement products remaining weak. The group... View Article
  
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• The Cotswold Company unveils new brand platform and TV advert

  18-09-2024 07:28 via theretailbulletin.com
  
  The Cotswold Company has launched a TV and BVOD campaign as it looks to showcase the quality and style of its handcrafted furniture and homeware ranges.... View Article
  
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• Rise in chocolate prices could spook shoppers this Halloween

  18-09-2024 06:00
  
  Increase of 11% in a year far outstrips grocery inflation in UK, according to the consumer group Which?Shoppers may face a choccy horror show this Halloween after the price of chocolate shot up 11% in the past year – far outstripping increases for other foods across UK supermarkets.Britons opening their doors to trick-or-treaters could decide to cut back on spending for 31 October, as the cost of chocolate rose sharply in the year to the end of August, way above wider grocery inflation of
  
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• How China’s ‘Shein village’ grabbed the fast fashion supply chain

  18-09-2024 04:22
  Thousands of factories depend on the retailer but rivals are putting pressure on a model based on speed and thin margins
  
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• Co-op rolls out 24-hour delivery service for city centre shoppers

  18-09-2024 01:01 via retailgazette.co.uk
  
  The Co-op is rolling out a 24-hour online grocery delivery service for customers in city centre stores in a bid to respond to the rising demand for rapid delivery.
  The scheme is launching this month in London, Leeds and Manchester shops where there is strong online grocery demand at non-traditional times.
  The sites selected have been based on the local demographic, a concentration of delivery driver availability and where shops are already staffed around the clock for replenishment purposes.
  Gro
  
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• Tesco plans to use AI to ‘nudge’ customers towards deals and healthier options

  18-09-2024 00:40 via retailgazette.co.uk
  
  Tesco boss Ken Murphy revealed the supermarket giant is considering using its Clubcard data to “nudge” customers towards healthier and cheaper alternatives.
  The chief executive said the supermarket was using artificial intelligence to monitor how its customers were shopping to provide suggestions on what products to buy next in an effort to deliver better value to consumers.
  Speaking at the FT’s Future of Retail on Tuesday, Murphy said: “It can start nudging you to say if
  
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