Retail news

• Nike appoints new CEO as sportswear giant’s sales come under pressure

  19-09-2024 23:28
  
  Company shares rise as former executive Elliott Hill announced as successor to John DonahoeNike said on Thursday that former senior executive Elliott Hill would rejoin the company to succeed John Donahoe as president and CEO as the sportswear giant shakes up its top rank amid efforts to revive sales and battle rising competition.The company’s shares were up 9% in extended trading. Continue reading...
  
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• Next and the beautiful arithmetic of long-termism | Nils Pratley

  19-09-2024 19:31
  
  The dawn of a new era of faster profits growth from overseas and ‘platform’ operations are among reasons for the retailer to be cheerfulHere is an absurdly mean-minded way to view Next’s advance towards annual profits of £1bn this financial year: since the retailer achieved almost half a billion (£498m) as long ago as 2008, merely doubling over 17 years is not otherworldly. The annual compound rate of improvement works out at only 4%.But that perspective would plain
  
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• Next says it may close stores if £30m equal pay claim is upheld

  19-09-2024 19:18
  Retailer says some shops may become unviable despite annual profits nearing £1bn amid international expansionNext said it may close stores if it loses an appeal against a landmark equal pay claim.The fashion and homeware retailer made the comments after shop workers at Next last month won a six-year legal fight for equal pay. Next is planning to challenge the decision and could have to pay more than £30m in compensation if it is unsuccessful. Continue reading...
  
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• Beating Aldi cashiers at their own game | Brief letters

  19-09-2024 18:30
  
  Till tactics | On the shelf | Labour golfers | Cattle and poetry | Oxford StreetThis is a good game (Shopper’s videos of himself trying to beat ‘insanely speedy’ Aldi cashiers go viral, 16 September). My tactic is to join the queue behind an unfeasibly large trolley-load, then place items in a zigzag pattern on the conveyor. A bottle of gin halfway along gives everyone a breather as the cashier has to wrangle the security tab off, and leaving vegetables until the end allows&nbs
  
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• Halfords enters premium cycling lane

  19-09-2024 16:43 via retailgazette.co.uk
  
  The UK’s largest cycling retailer, Halfords, is set to more than double its premium bicycle offerings as it pedals into the UK’s high-end cycling market.
  The move comes as the premium sector emerges as one of the fastest-growing segments of the cycling industry, and one that was previously underrepresented in the retailer’s range.
  Halfords will increase its range of premium mechanical bikes that hold a price tag of more than £1,000 by 60%, while its premium electric bike
  
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• Asos exec: TikTok Shop risks cutting out online retailers

  19-09-2024 16:42 via retailgazette.co.uk
  
  Asos executive Elton Ollerhead has said that TikTok Shop is “dangerous” for online retailers as it risks cutting them out of customers’ shopping journey.
  Ollerhead, who is director of Asos Media Group, told the Ecommerce Expo conference that the burgeoning shopping platform could remove the need for online retailers in the minds of shoppers if products could be bought directly from social media networks.
  Despite this risk, Asos has sold on TikTok Shop since March this year as p
  
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• Asos exec: TikTok Shop drives sales growth but could risk cutting out online retailers

  19-09-2024 16:42 via retailgazette.co.uk
  
  Asos executive Elton Ollerhead has said that TikTok Shop is “dangerous” for online retailers as it risks cutting them out of customers’ shopping journey.
  Ollerhead, who is director of Asos Media Group, told the Ecommerce Expo conference that the burgeoning shopping platform could remove the need for online retailers in the minds of shoppers if products could be bought directly from social media networks.
  Despite this risk, Asos has sold on TikTok Shop since March this year as p
  
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• Asos exec: TikTok Shop drives sales growth and could potentially cut out online retailers

  19-09-2024 16:42 via retailgazette.co.uk
  
  Asos executive Elton Ollerhead has said that TikTok Shop was working really well for the brand but could potentially cut online retailers out of customers’ shopping journey.
  Ollerhead, who is director of Asos Media Group, told the Ecommerce Expo conference that the burgeoning shopping platform could remove the need for online retailers in the minds of shoppers if products could be bought directly from social media networks.
  Asos has sold on TikTok Shop since March this year as part of its
  
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• Sosandar expands retail footprint with UK store openings and Irish launch

  19-09-2024 16:21 via retailgazette.co.uk
  
  Fashion brand Sosandar will expand into Ireland with an in-store launch at Arnotts, Ireland’s largest department store following the opening of its  first two standalone stores in the UK.
  The launch at Arnotts in central Dublin follows Sosandar’s successful online partnership with the retailer.Customers in Ireland have shown strong demand for the brand since its online launch and will now be able to shop the brand in a bricks-and-mortar setting.
  Arnotts is owned by the UK-based
  
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• Morrisons shifts shoppers to new revamped app

  19-09-2024 16:06 via retailgazette.co.uk
  
  Morrisons has moved its customers from its former online groceries ‘white app’ to a single consolidated ‘green’ Morrisons groceries app.
  The grocer said it had “previously ran one website and two apps,” with shoppers divided over which app they used regionally and in “most cases customers would not have been aware”.
  Morrisons has now scrapped its old app, which was only for shoppers based in areas where online orders could be collected from its cen
  
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• Waitrose launches £2m ‘BrandsNew’ innovation programme

  19-09-2024 16:04 via retailgazette.co.uk
  
  Waitrose has launched a new branded innovation programme, BrandsNew, which will see more than £2m invested in its first year to attract and support new brands.
  The initiative will make use of Waitrose’s own Branded Innovation team alongside product discovery platform RangeMe and innovation consultancy YF, formerly Young Foodies.
  Successful applicants to the scheme will receive support in navigating the challenges of supplying supermarkets. The upmarket grocer has a track record of be
  
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• Carpetright owes retailers nearly £3.5m in rental debts

  19-09-2024 16:00 via retailgazette.co.uk
  
  Carpetright owed at least 11 retail businesses nearly £3.5m in outstanding rent and charges following the firm’s collapse, according to its recently filed statement of affairs.
  DFS for Newcraighall, Lothian, is owed more than £1m by the flooring specialist, Interiors Monthly reported, while Wickes is indebted by almost £897k.
  B&M is owed around £385k, while Furniture Village is owed £324k, and Bensons for Beds is indebted by almost £168k.
  Additionall
  
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• Next to take on Flannels with new upmarket fashion website Seasons

  19-09-2024 15:43 via retailgazette.co.uk
  
  Next is to launch a new premium branded fashion website, Seasons, as it seeks to build on the success of its Reiss acquisition.
  Seasons is set to launch as a subsite before Christmas with brands including A.P.C, Ganni, Joseph, Marc Jacobs, Rixo and Veja.
  The retailer said: “The exceptionally strong demand for some of our existing premium brands, such as Reiss, has shown that a significant portion of our customers actively seek out premium and luxury products.”
  It comes as Next has se
  
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• Former Harrods boss Mohamed Al Fayed accused of rape by former workers

  19-09-2024 14:19 via retailgazette.co.uk
  
  More than 20 female ex-Harrods workers have accused former owner Mohamed Al Fayed of rape and sexual assault.
  The former staff members said they had been sexually assaulted by Al Fayed, who died last year, while working at the London retailer. Five workers alleged they had been raped by the billionaire.
  One of the ex-staff members who claimed Al Fayed had raped her at his apartment when she was a teenager described him as a “monster, a sexual predator with no moral compass whatsoever,&rdqu
  
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• Levi’s unveils new store in London’s Knightsbridge

  19-09-2024 13:30 via theretailbulletin.com
  
  Levi Strauss & Co. has opened a new immersive store in London’s Knightsbridge as part of its commitment to the UK market. Featuring a prominent glass... View Article
  
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• The Retail Bulletin sets up CX industry body, CX Alliance

  19-09-2024 13:11 via theretailbulletin.com
  
  The Retail Bulletin has announced the establishment of the CX Alliance (CXA) following the recent closure of the Customer Experience Foundation (CXFO). The CXA aims to... View Article
  
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• Almost 40% of UK Customer Service workers facing abuse consider quitting

  19-09-2024 13:11 via theretailbulletin.com
  
  New data from the Institute of Customer Service reveals that nearly 4 in 10 (39%) UK customer service workers who have experienced abuse are contemplating leaving... View Article
  
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• The Retail Bulletin announces set-up of CX Industry Body, CX Alliance

  19-09-2024 12:39 via theretailbulletin.com
  
  The Retail Bulletin has announced the establishment of the CX Alliance (CXA) following the recent closure of the Customer Experience Foundation (CXFO). The CXA aims to... View Article
  
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• Levi’s unveils new flagship store in Knightsbridge

  19-09-2024 12:39 via theretailbulletin.com
  
  Levi Strauss & Co. has opened an immersive flagship store in London’s Knightsbridge as part of its commitment to the UK market. Featuring a prominent glass... View Article
  
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• Paper receipts on the chopping block

  19-09-2024 11:42 via theretailbulletin.com
  
  3 in 4 Brits (77%) would ban paper receipts if they knew how many trees were cut down to generate them – and millennials are the... View Article
  
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• Next targets wealthier shoppers as focus shifts to ‘fewer, better quality’ items

  19-09-2024 10:32
  
  UK retail bellwether lifts annual profit forecast to nearly £1bn
  
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• Next lifts profit forecast to nearly £1bn as retailer defies high street malaise

  19-09-2024 10:32
  
  Retail bellwether raises outlook for second time since August
  
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• Next ups full year profit guidance following surge in first half sales

  19-09-2024 10:11 via theretailbulletin.com
  
  Next has raised its full year profit guidance after a strong performance in the first half of its financial year, In the six months to July... View Article
  
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• Fabacus plots route to DPPs

  19-09-2024 10:11 via theretailbulletin.com
  
  For some years Digital Product Passports (DPPs) were widely regarded as some tech tool that was unlikely to have much impact on retailers and consumers but... View Article
  
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• Next reaps rewards as global fashion trends ‘converge’ via social media

  19-09-2024 09:48
  
  Annual profits near £1bn as chain’s international expansion boosts sales• Business live – latest updatesNext has said international tastes in fashion are “converging” as tech platforms expose consumers to international trends, boosting the retailer’s overseas sales and helping it close in on £1bn in annual profits for the first time.The fashion and homeware retailer forecast its annual profits at £15m more than previously expected, at £9
  
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• Next annual profits near £1bn as overseas expansion boosts sales

  19-09-2024 09:48
  Global reach of platforms such as Netflix, YouTube and TikTok ‘exposing people to international fashion trends’, says retailer• Business live – latest updatesNext has said international tastes in fashion are “converging” as tech platforms expose consumers to international trends, boosting the retailer’s overseas sales and helping it close in on £1bn in annual profits for the first time.The fashion and homewares retailer forecast that its annual prof
  
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• Ocado sales surge as it predicts double-digit annual growth

  19-09-2024 09:14 via retailgazette.co.uk
  
  Ocado Retail, the joint venture between the online grocer and M&S, has increased its sales forecast for the year following a strong performance in its first three quarters.
  The online supermarket sales rocketed 15.5% to £658m in the 13 weeks to 1 September, which it attributed the “continued momentum” on delivering “unbeatable choice, unrivalled service and reassuringly good value”.
  Average orders per week rose 14.7% to 437k and volumes were up 15.4% thanks to a
  
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• Ocado raises sales forecast as online grocery booms

  19-09-2024 09:14 via retailgazette.co.uk
  
  Ocado Retail has increased its sales forecast for the year following a strong performance in its first three quarters.
  The online grocer reported its sales had rocketed 15.5% to £658m in the 13 weeks to 1 September, which it attributed the “continued momentum” to its progress on delivering “unbeatable choice, unrivalled service and reassuringly good value”.
  Average orders per week rose 14.7% to 437k and volumes were up 15.4% thanks to a 10.3% increase in active cust
  
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• Asda announces major leadership change

  19-09-2024 09:03 via theretailbulletin.com
  
  Asda has announced that Mohsin Issa is stepping back from his executive leadership role at the supermarket to focus on his previously announced move to become... View Article
  
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• Next nears £1bn profit as it raises profit forecast again

  19-09-2024 08:51 via retailgazette.co.uk
  
  Next has upgraded its full year profit guidance for the second time in two months as it inches closer to delivering a profit of £1bn.
  The high street giant added £15m to its annual forecast, which now stands at £995m – up 8.4% on last year’s profits.
  It comes as the retailer reported its pre-tax profit had increased 7.1% to £453m in the six months to July. Related StoryThousands of Asda employees begin equal pay hearing09/09/2024 x 1:44 PMTotal group sales, wh
  
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• Next nears £1bn profit as it raises forecast again

  19-09-2024 08:51 via retailgazette.co.uk
  
  Next has upgraded its full year guidance for the second time in two months as it inches closer to delivering a profit of £1bn.
  The high street giant added £15m to its annual forecast, which now stands at £995m – up 8.4% on last year’s profits.
  It comes as the retailer’s pre-tax profit had increased 7.1% to £453m in the six months to July. Related StoryThousands of Asda employees begin equal pay hearing09/09/2024 x 1:44 PMTotal group sales, which include
  
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• Moonpig trading in line with expectations

  19-09-2024 08:25 via theretailbulletin.com
  
  Moonpig has said its group trading has been in line with expectations in its financial year to date despite ongoing macro headwinds in the gifting market.... View Article
  
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• Can Lord Rose stop the rot at Asda?

  19-09-2024 08:18 via retailgazette.co.uk
  
  Asda revealed that co-owner Mohsin Issa would step back from his executive leadership role at the supermarket, with chair Stuart Rose set to take over the running of the retailer, supported by TDR Capital partner, and ex-eBay Europe boss, Rob Hattrell.
  It seems like Rose has gotten what he wanted after he last month admitted he was “embarrassed” by the grocer’s performance and wanted Issa to step back.
  The former M&S boss said: “I wouldn’t encourage him to [inte
  
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• Q&A: Anna Rasmussen, Founder and CEO, OpenBlend

  19-09-2024 08:05 via theretailbulletin.com
  
  Anna Rasmussen is the Founder & CEO of OpenBlend – the platform for transforming 1:1s to boost performance and develop people. As a former executive leadership... View Article
  
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• John Lewis glass-top dining table led to a shattering experience

  19-09-2024 08:00
  
  The seven-year-old table exploded on the hottest day of the year but I am being refused a refundI bought a glass-top dining table from John Lewis several years ago and was in shock after it exploded on the hottest day of the year.I contacted John Lewis but it said I was not entitled to a refund or a replacement. There was a camera and a laptop sitting on the table at the time and the “heat given off by these devices is a known cause of glass breakage in tempered glass”, it told me. C
  
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• Footasylum to triple size of store at Merry Hill

  19-09-2024 07:42 via theretailbulletin.com
  
  Footasylum is set to triple the size of its store at Merry Hill from 3,000 to 10,000 square feet. Having operated at the West Midlands shopping centre... View Article
  
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• Watch: John Lewis draws on 100-year legacy in new ad campaign

  19-09-2024 01:01 via retailgazette.co.uk
  
  John Lewis is celebrating 100 years of Never Knowingly Undersold in the first installment of its three-part Christmas ad campaign.
  It marks the start of the department store retailer’s “biggest marketing campaign” after it reinstated the price promise pledge last week after deciding to scrap it two years ago.
  The 90-second film, created by Saatchi & Saatchi, centres around a John Lewis store window providing a lens on the past and the future with every different display rep
  
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