Retail news

• Asda to convert IT systems in smaller stores over Christmas to minimise disruption

  26-09-2024 20:02 via retailgazette.co.uk
  
  Asda will prioritise converting the IT systems in its smaller stores for the rest of the year to minimise disruption from its ‘Project Future’ transformation over the Christmas period.
  The retailer said it would concentrate its transformation efforts on 850 smaller sites, including petrol stations, smaller supermarkets, and Asda Express convenience stores over the golden quarter, rather than its larger stores where the bulk of its customers shop.
  The conversion of its superstores and
  
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• Bravissimo snapped up by lingerie giant Wacoal Europe

  26-09-2024 18:09 via retailgazette.co.uk
  
  Bravissimo has been snapped up by lingerie and swimwear manufacturer Wacoal Europe.
  Wacoal Europe owns the brands Wacoal, Freya, Fantasie, Elomi and Goddess. Bravissimo has been selling Freya, Fantasie and Elomi products for many years.
  Under its new ownership, the retailer, which sells lingerie and swimwear in sizes D cup and above, will continue operating as a separate company, with Leanne Cahill remaining as its CEO.
  The lingerie brand will also continue to be run from its office and warehous
  
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• Harrods boss apologises over Al Fayed allegations: ‘We failed our colleagues’

  26-09-2024 15:14 via retailgazette.co.uk
  
  Harrods managing director Micahel Ward has said the business “failed our colleagues” as he apologised following sexual misconduct allegations against the department store’s former owner, Mohamed Al Fayed.
  Ward said it was clear Al Fayed “presided over a toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct”.
  The Harrods boss, who worked for Fayed for four years, said he was “not aware of his criminality and abuse” and descri
  
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• Updated: Morrisons inks £331m property deal

  26-09-2024 15:00 via retailgazette.co.uk
  
  Morrisons has confirmed it is set to wipe £331m off its debt pile following a 45-year ground rent deal with real investor Song Capital.
  The private equity-backed supermarket has agreed for the investment firm to earn an income stream from 75 of its stores until 2069, as previously reported by Sky News.
  The grocer will retain ownership of the stores’ freehold. Related StoryMorrisons sales nudge up as it focuses on availability and loyalty26/09/2024 x 12:19 PMThe deal was announced alo
  
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• Aldi boss tells shoppers ‘you don’t have to compromise on quality’ after Panorama investigation

  26-09-2024 14:34 via retailgazette.co.uk
  
  Aldi boss Giles Hurley has sent shoppers an email highlighting the BBC Panorama’s investigation into supermarket price-matching.
  The email said the documentary “revealed some eye-opening findings,” including the fact that many Tesco goods that claimed to be Aldi price-matched were not like for like.
  Writing in the email, he said: “The programme, which aired on BBC One, highlighted that nearly a third of Tesco’s matched products contain less of the main ingredient co
  
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• Amazon UK pays corporation tax for first time since 2020

  26-09-2024 14:06
  
  End of ‘super-deduction’ means Amazon UK Services paid £18.7m last year, as British arm raked in sales of £27bnAmazon’s main UK division has paid corporation tax for the first time since 2020 after the end of a “super-deduction” tax break introduced by Rishi Sunak.Amazon UK Services, which employs more than half of the group’s UK workers, said it paid £18.7m in “current tax” last year, which is understood to have been largely corp
  
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• Morrisons sales nudge up as it focuses on availability and loyalty

  26-09-2024 13:19 via retailgazette.co.uk
  
  Morrisons sales nudged up during its third quarter, as the retailer focused on availability and loyalty across the business.
  From 29 April to 28 July, sales were up 2% to almost £4bn as the supermarket said it made further progress across its three strategic pillars: commercial excellence, operations optimisation and new value creation.
  It added an additional 50 products to its Aldi and Lidl price match, bringing its total goods to almost 300.
  The grocery giant made a significant inve
  
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• Morrisons agrees £331m property deal on extra long leases to cut debt pile

  26-09-2024 12:37
  Transaction will reportedly provide investment firm Song Capital with ground rent on 76 supermarkets for 45 yearsMorrisons has raised £331m to cut its debt pile through the sale of ground leases on 76 supermarkets as part of a turnaround plan under the new chief executive, Rami Baitiéh.If all the proceeds are used to pay down debt, Morrisons would have net debt of £3.6bn, down from as much as £8.6bn at the end of last year. Continue reading...
  
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• Selfridges boosts retail media offer as it launches sponsored products

  26-09-2024 12:30 via retailgazette.co.uk
  
  Selfridges has teamed up with adtech firm Criteo as it introduces sponsored products on its website for the first time.
  As part of a new two-year partnership, Criteo will also power the luxury retailer’s onsite display, which it said would give shoppers “a fully personalised experience, creating opportunities for Selfridges’ brand partners to access retail networks”.
  With access to Selfridges’ luxury shopper audiences, the pair hope the new tie-up will be able to &l
  
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• Boots introduces over 25 new beauty brands as it launches biggest ever beauty marketing campaign

  26-09-2024 09:55 via theretailbulletin.com
  
  Boots has introduced 25 new beauty brands over the summer as it continues to revamp the beauty shopping experience in its stores. Brands added to the... View Article
  
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• Pepco Group continues to be impacted by supply chain disruption

  26-09-2024 09:27 via theretailbulletin.com
  
  Pepco Group is expecting to deliver strong increases in revenue and EBITDA in its current financial year despite its performance being impacted by supply chain disruption.... View Article
  
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• Poundland owner Pepco battles ongoing supply chain disruption

  26-09-2024 09:24 via retailgazette.co.uk
  
  Pepco Group’s fourth-quarter like-for-like sales fell year on year due to ongoing supply chain disruption.
  For the 51 weeks ending September 22, the Poundland and Dealz owner saw total revenue rise 10%, driven by new store openings, but like-for-like dipped 3.1%.
  Disruption to shipping through the Suez Canal, due to attacks militants in the Red Sea, has continued through 2024.
  “Pepco has continued to be impacted by supply chain issues, affecting the consistent and timely availability
  
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• H&M warns on profit target amid higher costs and intense competition

  26-09-2024 09:24
  Swedish fast-fashion chain’s struggle to boost margins a blow to new chief Daniel Ervér
  
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• H&M hit by flat sales in ‘challenging’ quarter as it lowers profit forecast

  26-09-2024 09:05 via retailgazette.co.uk
  
  H&M Group has posted flat sales in the UK and across key European markets in its third quarter as colder weather in June hit early trading.
  For the three months to 31 August, the fashion giant saw global net sales slip 3% to SEK 59bn (£4.3bn) from SEK 60.9bn (£4.5bn) during the same period last year. In local currencies, sales were flat.
  As a result, the group has updated its outlook, now expecting its operating margin for the year to be below 10%, down on its previous earnings t
  
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• Co-op fights £40m shoplifting losses with AI-powered security

  26-09-2024 08:32 via retailgazette.co.uk
  
  Co-op is now using artificial intelligence to detect offenders carrying concealed weapons or stolen goods after it revealed leakage costs from theft and fraud rose by almost 20% to £40m in the first half of the year.The technology, currently being trialled, can also detect physical assaults on staff and notify a central monitoring station operated by Mitie to request support, The Guardian reported.The retailer, which returned to profit this week despite the surge in shoplifting, has spent
  
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• L’Occitane Group chief executive steps down

  26-09-2024 08:22 via theretailbulletin.com
  
  L’Occitane Group has announced that Laurent Marteau has stepped down from his roles of chief executive officer and board member. The group said he had made... View Article
  
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• Mango to expand further in US with first store in Washington State

  26-09-2024 07:40 via theretailbulletin.com
  
  Mango ha announced plans to launch a first store in the US state of Washington next year. The news follows the opening of sites in New... View Article
  
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• Not On The High Street partners with Deliveroo for gifts on demand

  26-09-2024 07:35 via retailgazette.co.uk
  
  Not On The High Street and Deliveroo have teamed up to give customers access to on-demand delivery of more than a thousand gifts and personalised products in as little as 25 minutes.
  From this week, at least 15 small brands across London will be available to order via the delivery app, under the umbrella of Not On The High Street, an online platform representing over 5,500 small UK brands.
  There will be more independent brands on the gifting site as the partnership expands.
  As part of Deliv
  
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• From 99p blouses to a fast-fashion giant: Primark’s 50 years on the UK high street

  26-09-2024 07:00
  
  Fast fashion chain has brought catwalk trends at low prices – but faced criticism over cost to planetThe way we shop has changed beyond recognition over the past five decades, from the rise of online shopping to the death of department stores, not to mention spending booms and busts and a pandemic.All of which makes Primark’s half century on the British high street, reached on Thursday, an impressive milestone. Continue reading...
  
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• Hermès chief eyes haute couture push as Paris house rides out luxury gloom

  26-09-2024 06:00
  Axel Dumas says group is still planning to expand in China, where others are hurting
  
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