Retail news

• Nike postpones investor meeting after hiring new boss amid falling sales

  01-10-2024 23:36
  
  Sportswear giant pulls financial guidance for the year to provide incoming CEO Elliott Hill ‘flexibility’Nike pulled its financial guidance for the year, reported a steep drop in revenue and postponed a highly anticipated update for shareholders, days after announcing the replacement of its CEO.Profits at the American sportswear giant, grappling with falling sales and intense competition from fast-growing rivals, also declined. “A comeback at this scale takes time,” it sa
  
  Read more

• Nike withdraws full-year guidance ahead of CEO transition

  01-10-2024 22:53 via ft.com
  US sportswear maker’s quarterly sales fell 10% in a reflection of its retail struggles
  
  Read more

• Nike sales drop 10% as it struggles through retail challenges

  01-10-2024 22:53 via ft.com
  US sportswear maker is preparing to change CEOs in an attempt to shake off a sluggish stretch
  
  Read more

• Greggs blames riots and poor weather for slowing Q3 sales growth

  01-10-2024 17:06 via ft.com
  
  Bakery chain confident of its appeal to ‘savvy’ shoppers as it pushes ahead with expansion
  
  Read more

• Advertisement

• Jellycat plans £58mn payday for owners

  01-10-2024 16:58 via ft.com
  
  UK cuddly-toy maker books 24% rise in pre-tax profits after selling more products online
  
  Read more

• Retailers ramp up discounts as UK shop prices hit three year low

  01-10-2024 16:41 via retailgazette.co.uk
  
  Shop prices in the UK fell at their quickest rate in over three years this September, according to the British Retail Consortium (BRC) as retailers cut prices in a bid to entice customers.
  Overall shop price deflation was 0.6% in September, the fastest drop since August 2021, and up from a 0.3% deflation rate last month.
  Non-food items saw steep deflation at 2.1%, accelerating from 1.5% last month, driven by discounts on clothing and furniture amid low demand amid unseasonal weather and a squeez
  
  Read more

• Garden centre chain Dobbies to shut 17 stores as part of restructuring plan

  01-10-2024 16:36
  
  Closures will affect 465 jobs and retailer will also try to reduce its rent bill at nine sites if creditors approve its strategyDobbies is planning to shut 17 of its 77 stores, affecting 465 jobs, as its new owners try to return the garden centre group to profitability.The company, which employs 3,600 workers, said it was seeking the approval of creditors for a restructuring plan that would reduce its rent bill. Continue reading...
  
  Read more

• Murray Uniforms pioneer’s menopause-friendly workwear

  01-10-2024 16:12 via theretailbulletin.com
  
  Murray Uniforms, a leading designer and manufacturer of corporate workwear, is taking significant steps to support employees going through menopause with their innovative uniform designs. Recognising... View Article
  
  Read more

• Advertisement

• Why cost efficiency should be your new ultimate KPI

  01-10-2024 15:46 via retailgazette.co.uk
  
  Making money in retail is a proposition that seems to get more complex each year. Skyrocketing costs and ever-changing consumer habits only add to the uncertainty and narrow the profit margins for your business. So, what’s the answer?
  What businesses need is a framework to ensure that they’re wisely investing in customer acquisition, and that marketing spend is actively contributing to visibility and profitability. In short, cost efficiency needs to be your businesses next true KPI.
  
  Read more

• TikTok Shop LIVE & Shoppable Content – How PUMA is nailing social commerce

  01-10-2024 15:27 via retailgazette.co.uk
  
  Social commerce facilitates brand and product storytelling, creates authentic direct-to-consumer dialogues, and drives incremental sales. According to a new report from Retail Economics, it is set to double in value in the next four years to be worth almost £16bn by 2028.
  Rhys Harbinson, DTC Multichannel Manager of Sportswear giant PUMA, presents in conversation with Gustavo Mondo, Head of Fashion Key Account Management at TikTok Shop UK his path to success. We are exploring the right affi
  
  Read more

• Gousto appoints eBay veteran Murray Lambell as new CCO

  01-10-2024 15:14 via retailgazette.co.uk
  
  Gousto has named eBay veteran Murray Lambell as its new chief customer officer, as the meal kit retailer looks to capture more of the mainstream dinner market after returning to profit last year.
  Murray, who led eBay’s UK business from 2020 to 2023, most recently served as vice president and general manager of global business selling at the online giant.
  Prior to this, he held multiple positions at the online marketplace since joining in 2008, including loyalty and retention roles and comm
  
  Read more

• Miniso to open first travel store Miniso-Go in Paddington

  01-10-2024 15:09 via retailgazette.co.uk
  
  Miniso is set to open the doors to its first Miniso-Go travel store in Paddington, London this week.
  The Chinese lifestyle retailer’s new 400 sq ft store will stock its signature affordable products, including toys, homewares and lifestyle accessories.
  It will also cater to travellers and commuters on the go, offering products such as travel neck pillows, travel mugs, as well as its Sanrio, Disney and Minions themed products.
  “Whether you’re heading for a long journey or a quic
  
  Read more

• Laura Vicente Cerqueira Championing team spirit at IKEA

  01-10-2024 15:07 via theretailbulletin.com
  
  Laura Vicente Cerqueira’s journey with IKEA has been nothing short of inspirational, earning her the coveted title of Manager of the Year at the People in... View Article
  
  Read more

• Authentic Brands Group snaps up Champion in $1.2bn deal

  01-10-2024 14:49 via retailgazette.co.uk
  Authentic Brands Group has finalised its acquisition of sportswear brand Champion in a $1.2bn (£899m) deal.The Ted Baker and Hunter owner first said in June that it would buy Champion from US clothing company HanesBrands.The US sporting giant generates nearly $3bn (£2.25bn) in global retail sales annually and is Authentic’s second biggest acquisition after snapping up Reebok from Adidas for €2.1bn (£1.8bn) back in 2022.
  AMG Companies, “a long standing and trust
  
  Read more

• Top toys: Hamleys unveils its best sellers for Christmas 2024

  01-10-2024 13:52 via retailgazette.co.uk
  
  Hamleys has revealed its top toys for Christmas 2024, according to its expert buyers.
  The toy retailer said its list for this year spanned newborns, teens and adults, with “everything from cuddles to collectibles”.
  The list includes characters from film favourites, with the Stitch ‘Crack Me Up’ plush and Moana singing doll. The Lego Transformer Bumblebee and Bulldozer stunt bounce car also feature in the collection.
  Additionally, the Drop Trivia family game earned a top s
  
  Read more

• Lincolnshire Co-op’s Carlton Food Store wins ‘Team of the Year’

  01-10-2024 13:26 via theretailbulletin.com
  
  The team at Lincolnshire Co-op’s Carlton Food Store in South Yorkshire has been awarded the prestigious ‘Team of the Year’ title at the People in Retail... View Article
  
  Read more

• Tapi Carpets pulls in first profit outside of Covid despite ‘tough’ market

  01-10-2024 13:08 via retailgazette.co.uk
  
  Tapi Carpets returned to profit in its latest annual results, marking its first operating profit outside of Covid.
  The carpet retailer saw profit spike by almost £10m for the year ended 31 December, up from its £1.7m loss in 2022.
  Sales climbed by 7.9% to £171m, driven by seven new store openings in 2023, including sites in Sutton, Speke, Putney, Crewe and Bletchley.
  The flooring giant noted its update solely represented the organic performance of Tapi and did not include any c
  
  Read more

• Avocado bathrooms are back in UK as younger homeowners go green

  01-10-2024 12:33
  
  Suppliers say gen Z and millennials are driving trend for 1970s-style fixtures as well as other bright coloursWild sage, lemon, peach, sorbet, mint, and avocado: not the makings of a bizarre fruit salad, but some of the forgotten shades of Britain’s bathrooms that were popular in the mid-20th century.The colourful suites disappeared from homes as whites and minimalist, neutral designs took over in the 1990s. But avocado-coloured bathrooms are back, and it is gen Z and millennials driving t
  
  Read more

• Tesco and Sainsbury’s under fire for misleading in-store recycling scheme

  01-10-2024 12:01 via retailgazette.co.uk
  
  Tesco and Sainsbury’s are facing allegations of misleading their customers over their in-store recycling initiatives after an investigation revealed that the majority of soft plastic returned to stores was incinerated.
  The Everyday Plastic campaign group, along with the Environmental Investigation Agency (EIA UK), monitored 40 bundles of soft plastic waste, such as single-use bags, films, and wrappers, via Tesco and Sainsbury’s in-store recycling schemes across England.
  The pair are
  
  Read more

• eBay UK drops selling fees across all categories to compete with Depop and Vinted

  01-10-2024 10:37 via retailgazette.co.uk
  
  Ebay UK is scrapping selling fees for private sellers across all categories, excluding motors, in a bid to compete with fast-growing rivals like Depop and Vinted.
  The move means private sellers will no longer need to pay final value fees or regulatory operating fees when selling on the  platform
  It comes after eBay UK scrapped selling fees for clothing in April, which led to a double-digit increase in listings for popular items such as jeans, shirts, and dresses, while keeping items ou
  
  Read more

• Louis Coelho of Charles Tyrwhitt wins Employee of the Year

  01-10-2024 10:23 via theretailbulletin.com
  
  Louis Coelho, Retail Operations Manager at Charles Tyrwhitt, has been honoured with the Employee of the Year award, recognised for his exceptional contributions, innovative thinking, and... View Article
  
  Read more

• Store Champion of the Year: Behind the scenes at Fortnum & Mason’s Goods-In Team

  01-10-2024 09:52 via theretailbulletin.com
  
  Since Fortnum & Mason first opened its doors in 1707, it has become a symbol of extraordinary food, luxury, and impeccable service. But behind this world-renowned... View Article
  
  Read more

• Mulberry rejects Frasers Group’s proposed takeover bid

  01-10-2024 09:52 via theretailbulletin.com
  
  Luxury brand Mulberry has rejected a potential takeover bid by Mike Ashley’s Frasers Group. The news follows Frasers Groups’ tabling of a possible offer which valued... View Article
  
  Read more

• Mulberry rejects £83mn takeover bid from Mike Ashley’s Frasers

  01-10-2024 09:32 via ft.com
  Struggling UK luxury brand says offer does not recognise its ‘substantial future potential value’
  
  Read more

• Mulberry rejects £83m takeover bid from Mike Ashley’s Frasers Group

  01-10-2024 09:23
  
  British handbag maker says it is raising cash for turnaround and does not need offer from Sports Direct ownerBusiness live – latest updatesThe British handbag maker Mulberry has rejected an £83m takeover proposal from Mike Ashley’s Frasers Group as too low, insisting instead that it would push on with a planned fundraising to fund a turnaround.The luxury brand said it had considered the approach carefully and consulted its 56.1% majority shareholder Challice, controlled by the
  
  Read more

• Greggs sales surge thanks to new menu and evening opening

  01-10-2024 09:19 via retailgazette.co.uk
  
  Greggs has posted another quarter of strong sales growth, fuelled by new menu items and extended evening opening hours.
  The bakery chain said total sales surged 10.6% in the last quarter, with like-for-like sales rising 5%. This growth was underpinned by ongoing “menu development and further progress in extended trading hours and new digital channels”.
  With a focus on affordability and convenience, Greggs has been extending its evening trading hours with over 1,200 branches open past
  
  Read more

• Greggs continues strong sales growth with new menu and extended hours

  01-10-2024 09:19 via retailgazette.co.uk
  
  Greggs has posted another quarter of strong sales growth, fuelled by new menu items and extended evening opening hours.
  The bakery chain said total sales surged 10.6% in the last quarter, with like-for-like sales rising by 5%. This growth was underpinned by ongoing “menu development and further progress in extended trading hours and new digital channels”.
  With a focus on affordability and convenience, Greggs has been extending its evening trading hours, now with over 1,200 locations
  
  Read more

• The Works “well positioned” for Christmas trading period

  01-10-2024 09:18 via theretailbulletin.com
  
  The Works has said it is well positioned for Christmas as it announced that it had finished its financial year in line with market forecasts with... View Article
  
  Read more

• The Works ‘well positioned’ for Christmas despite full-year profit drop

  01-10-2024 08:55 via retailgazette.co.uk
  
  The Works has posted flat sales and declining profits for its last financial year after navigating a “challenging consumer backdrop” but said it is “well positioned” for its Christmas peak.
  The value retailer’s adjusted EBITDA fell from £9m to £6m in the year ending 5 May, with profitability hit by tough Christmas trading last year and higher costs.
  However, strategic moves to improve product margins, cut costs, and stabilise the business have positioned
  
  Read more

• Streamline Success: How to effectively manage multiple retail stores

  01-10-2024 08:50 via theretailbulletin.com
  
  Jackson Versitano, Retail Regional Director – UK & ROMEA at Lightspeed. Managing multiple retail stores can be a daunting task, requiring a balance of operational consistency,... View Article
  
  Read more

• Peak Performance opens debut UK store at Covent Garden

  01-10-2024 08:50 via theretailbulletin.com
  
  Peak Performance, the Scandinavian outdoor brand, has opened its first UK store in London’s Covent Garden. The 1,700 square foot shop at 49 Long Acre offers... View Article
  
  Read more

• The Body Shop CEO: The brand is making a ‘market by market’ comeback

  01-10-2024 08:39 via retailgazette.co.uk
  
  The Body Shop CEO has said the brand is making a comeback “market by market” as it works to rebuild franchises in Spain and Portugal following a series of international closures.
  The beauty retailer, which experienced multiple shutdowns across the US, Canada, and Europe after its UK arm fell into administration, is now bouncing back, according to CEO Charles Denton.
  Denton said on LinkedIn: “We’re on our way back, market by market, product by product, customer by customer
  
  Read more

• Mulberry rejects Frasers Group’s £83m takeover bid

  01-10-2024 08:20 via retailgazette.co.uk
  
  Mulberry has rejected a potential £83m takeover offer from Frasers Group, following a bid by the Mike Ashley-controlled company for the embattled luxury fashion retailer.
  This week, Frasers proposed a cash offer of 130p per share for the shares it does not already own, valuing Mulberry at £83m – a 30% premium on its recent share price.
  However the Mulberry board, which consulted with financial advisers and its majority shareholder Challice Limited, said Frasers’ offer &ld
  
  Read more

• Steamery names new chief executive

  01-10-2024 07:45 via theretailbulletin.com
  
  Steamery has appointed Raphael Matzker as its new chief executive officer as it looks ahead to accelerating its global expansion. He has taken over from Steamery... View Article
  
  Read more

• Currys launches campaign to raise awareness of standalone repairs service

  01-10-2024 07:45 via theretailbulletin.com
  
  Currys has launched a new campaign to raise awareness of its standalone repairs business. The campaign features influencer and former World’s Strongest Man champion, Eddie Hall,... View Article
  
  Read more

• Online retailer eBay scraps fees for private sellers in UK

  01-10-2024 07:00
  
  In latest response to rivals such as Depop and Vinted, users now only pay transaction fees on sales of vehiclesOnline retailer eBay has scrapped fees for private sellers across almost all of its categories as it attempts to keep fast-growing rivals such as Depop and Vinted at arm’s length.The move means eBay’s UK sellers no longer have to pay transaction fees, except for cars, motorcycles and other vehicles. Continue reading...
  
  Read more

• Moana and other screen favourites set to top Christmas toy lists, says Hamleys

  01-10-2024 06:00
  
  Well-known names such as Stitch and Bumblebee ‘foster sense of connection, comfort and familiarity’Toys inspired by screen favourites such as Moana, Stitch and Bumblebee are expected to feature heavily on Christmas lists this year, according to expert buyers at Hamleys.A £30 singing Moana that belts out her How Far I’ll Go anthem when you press its flashing necklace is expected to be a hit this Christmas, with interest in the Disney princess set to be reinvigorated by the
  
  Read more

• Bring Professional Skincare Home: Notino introduces phototherapy devices

  01-10-2024 05:09 via theretailbulletin.com
  
  For 20 years, Notino has been dedicated to making the world more beautiful, providing customers with an exceptional selection of perfumes, beauty and skincare products. Now,... View Article
  
  Read more

• Profit margins at Coles and Woolworths were in line with major overseas supermarkets in 2008. Now they’re the highest in the world

  01-10-2024 03:08
  Australia’s grocery duopoly has leapfrogged peers when it comes to profitability – these charts prove itFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastSixteen years ago, the Rudd government ordered an inquiry into the supermarket sector amid rising public discontent about grocery prices.The sector was already highly concentrated with Coles and Woolworths enjoying a collective 65% share of the market, as the Franklins b
  
  Read more

• UK shop prices fall at fastest rate since 2021 despite rising fresh food inflation

  01-10-2024 01:01
  Overall shop price deflation was 0.6% in September compared with 0.3% in August, says trade bodyPrices in UK shops are falling at the fastest rate since 2021 despite an increase in fresh food inflation as wet weather hit UK production while the cost of olive oil and sugary snacks continues to be affected by the climate crisis.Overall shop price deflation was 0.6% in September compared with 0.3% in August, according to the latest figures from the British Retail Consortium (BRC) trade body. Contin
  
  Read more

• As Dobbies and Homebase close stores, has the UK fallen out of love with garden centres?

  01-10-2024 00:23 via retailgazette.co.uk
  
  Dobbies Garden Centres revealed today (30 September) that it is set to close 17 stores as it looks to return to “sustainable profitability”.
  The garden centre chain is thought to have faced another difficult year after racking up losses of £130m last year driven by high inflation and unseasonable weather dampening sales.
  It is not the only retailer that sells garden goods that finds itself in a tough spot, with Homebase CEO Damien McGloughlin informing staff in late August that
  
  Read more

Follow @retailuknws on Twitter!