Retail news

• JD Sports CEO shrugs off Nike’s decline as he insists sporting giant ‘will be fine’

  02-10-2024 15:03 via retailgazette.co.uk
  
  JD Sports chief executive has dismissed concerns over Nike’s recent poor performance, insisting it “will be fine” as he said the sports giant’s struggles aren’t impacting the retailer’s performance.
  When questioned about the impact of the sporting giant’s troubles, Regis Schultz was unfazed, stating that JD’s multi-brande model is delivering strong results, particularly in its key US market.
  “We see Nike coming back. Nike will be fine, it is
  
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• Veteran Harrods executive drops plan to head Fenwick amid Al Fayed controversy

  02-10-2024 14:02
  
  Nigel Blow worked for 14 years at Knightsbridge store as more than 70 victims allege sexual assault by late ownerA long-serving former Harrods executive has stepped back from plans to become boss of department store Fenwick chain this month amid controversy about the activities of the late owner of the Knightsbridge department store.Nigel Blow worked at Harrods for more than 14 years from 1992 to 2007 when the retailer was owned by Al Fayed, the subject of recent BBC documentary based on the acc
  
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• Boots Wins JEDI Award for groundbreaking Diversity and Inclusion initiatives

  02-10-2024 13:34 via theretailbulletin.com
  
  Boots has secured the prestigious JEDI Award at the People in Retail Awards 2024, recognising its ongoing commitment to diversity, equity, and inclusion (DEI). Led by... View Article
  
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• The White Company wins People Development Team of the Year

  02-10-2024 12:34 via theretailbulletin.com
  
  The White Company has been recognised as the “People Development Team of the Year” at the People in Retail Awards, showcasing the brand’s dedication to nurturing... View Article
  
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• Marks & Spencer to recruit for 11,000 Christmas roles

  02-10-2024 12:34 via theretailbulletin.com
  
  Marks & Spencer will be recruiting over 11,000 new customer assistants to support its UK stores during the busy festive period. This figures is higher than... View Article
  
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• Comment: Celebrating the uncelebrated

  02-10-2024 12:34 via theretailbulletin.com
  
  Some of the biggest societal trends we are living through today are the work from home (WFH) phenomenon and the emergence of Artificial Intelligence (AI), which... View Article
  
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• B&Q launches refurbished range and expands tool hire service

  02-10-2024 11:49 via retailgazette.co.uk
  
  B&Q has launched a new refurbished tools range and expanded its tool hire service as it looks for more ways to cater to shoppers.
  Products under its Refurbished by B&Q line have been sourced from customer returns and processed by the retailer’s technicians to ensure they meet ‘like new’ standards.
  The products, which has been component checked and thoroughly cleaned, will be sold at a discounted price on diy.com. Related StoryB&Q owner Kingfisher profits nudge up de
  
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• Topps Tiles sales drop as it battles against ‘challenging’ year

  02-10-2024 11:44 via retailgazette.co.uk
  
  Topps Tiles saw sales fall during its latest annual results in what it called a “challenging” year.
  Revenues dropped 5.7% to £248m for the year ended 28 September, excluding sales from its assets acquired from its acquisition of CTD Tiles in August.
  The tiles specialist said the trading environment remained challenging over the year, with “continued weak demand in the domestic repair, maintenance and improvement (“RMI”) sector,” particularly for bigger t
  
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• Ex-Harrods director backs out of Fenwick CEO job

  02-10-2024 11:28 via retailgazette.co.uk
  
  Former Harrods director Nigel Blow will no longer be joining Fenwick as its new chief executive.
  His decision comes after multiple sexual assault and rape allegations were made against Harrods’ previous owner Mohamed Al Fayed.
  The BBC broadcast a documentary last month based on the accounts of over 20 women who said they had been assaulted by Al Fayed while working at the luxury department store. Related StoryFenwick bolsters leadership team amid ‘challenging’ enviroment27/09/2
  
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• M&S kicks off recruitment for 11,000 festive roles

  02-10-2024 11:18 via retailgazette.co.uk
  
  M&S has become the latest retailer to launch its Christmas recruitment programme to help meet demand during the busy trading period.
  The high street chain is hiring over 11,000 new customer assistants to support its stores – more than 1,000 extra roles than last year.
  M&S said its new colleagues across its food and clothing and home business will support the shop floor and play an “integral role” in delivering its Christmas food to order service.
  The recruitment window
  
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• Booths cuts losses as revenues reach record levels

  02-10-2024 11:16 via retailgazette.co.uk
  
  Booths cut its losses during its latest annual results as sales soared at the upmarket supermarket.
  The grocer losses fel from £4m to £1.5m in the year to the end of March, after last posting a pre-tax profit in April 2022.
  Revenues hit £318.7m, surpassing £300m for the for first time in the retailer’s history.
  Booths benefitted from a combination of increased footfall, basket spend and  “record” Christmas revenues. Related StoryAsda fixes till &lsq
  
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• John Lewis boss aims to turn Peter Jones into ‘world flagship’

  02-10-2024 11:06 via retailgazette.co.uk
  
  John Lewis is planning to transform its Peter Jones store in Chelsea, London, into a “flagship for the world”.
  Executive director Peter Ruis told Retail Week that he wants “to surprise people” with what a department store can look like.
  His ideas include changing the assortment to better reflect the local customer base and making use of the Grade II listed building’s roof terrace.
  Ruis said: “What I can say is we have plans to radically overhaul Peter Jones to
  
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• JD Sports’ UK business hit by bad weather and Red Sea disruption

  02-10-2024 10:41
  Cold and wet spring reduces demand for camping kit and clothing, while shipping rerouting delays deliveriesBusiness live – latest updatesJD Sports’ UK business has been hit by falling sales after disruption in the Red Sea stalled deliveries and the cold, wet spring reduced demand for camping kit and clothing.The retail group, which owns Millets and Blacks in the UK, said sales at the outdoor kit chain were down 5.3% in the six months to 3 August as “key product lines” had
  
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• Midcounties Co-operative & Miss Macaroon award-winning ‘Fairer Futures’ Programme

  02-10-2024 10:20 via theretailbulletin.com
  
  Together Midcounties Co-operative x Miss Macaroon are transforming young lives through employment The Midcounties Co-operative, in partnership with social enterprise Miss Macaroon, has been honoured with... View Article
  
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• JD Sports remains bullish despite sharp drop in profits

  02-10-2024 09:44 via ft.com
  UK sportswear retailer’s results follow gloomy update from key supplier Nike
  
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• JD Sports boss says Nike will weather storm as retailer sticks to outlook

  02-10-2024 09:44 via ft.com
  UK sportswear chain’s results follow gloomy update from key supplier
  
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• JD Sports posts record interim results

  02-10-2024 09:22 via theretailbulletin.com
  
  JD Sports has said it is on track to meet its full year guidance as it announced record interim results. In the six months to 3... View Article
  
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• AO World to acquire Music Magpie

  02-10-2024 09:22 via theretailbulletin.com
  
  AO World is to acquire Music Magpie in a deal which values the consumer tech reseller at £9.98 million. Under the terms of the agreement, each... View Article
  
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• Nike withdraws full-year guidance as sales plunge ahead of new CEO arrival

  02-10-2024 09:14 via retailgazette.co.uk
  Nike withdrew its full-year forecast after first-quarter revenues plummeted 10% as it wipes the slate clean for incoming CEO Elliott Hill
  The sportswear giant has been grappling with slowing consumer demand and declines across key markets as direct-to-consumer sales dropped 13% to $4.7bn (£3.8bn), while wholesale revenues dipped by 8%.
  The results come as the sporting giant prepares for a leadership change, with Hill – a Nike veteran – set to take over as CEO from John Donahoe
  
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• Tokenisation of Digital Platforms: A New Era of Loyalty Programs

  02-10-2024 09:00 via theretailbulletin.com
  
  In the rapidly evolving digital landscape, businesses are constantly seeking innovative ways to engage customers and foster brand loyalty. The advent of blockchain technology and cryptocurrencies... View Article
  
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• Oliver Bonas recognised as Future Leaders in EDI at People in Retail Awards

  02-10-2024 08:55 via theretailbulletin.com
  
  Oliver Bonas, the independent British lifestyle brand known for its unique designs in fashion and homeware, has been awarded the Future Leaders title at the People... View Article
  
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• JD Sports posts record revenue in first half

  02-10-2024 08:55 via theretailbulletin.com
  
  JD Sports has said it is on track to meet its full year guidance as it announced record first half revenue. In the six months to... View Article
  
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• Greggs sales boosted by menu development and extended trading hours

  02-10-2024 08:51 via theretailbulletin.com
  
  Greggs has increased its total sales by 10.6% in its third quarter as it continues to expand its store estate. With company-managed shop like-for-like sales up... View Article
  
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• AO World to buy second-hand tech retailer MusicMagpie in £10m deal

  02-10-2024 08:51 via retailgazette.co.uk
  
  AO World will snap up second-hand tech buyer and seller MusicMagpie in a £9.98m deal in a bid to boost its presence in the mobile and consumer tech market.The deal, which is expected to complete in early 2025, received backing from MusicMagpie’s board, with directors unanimously recommending the offer.
  AO World chair Geoff Cooper said: “With highly complementary business models, this acquisition will enable us to broaden our customer offerings while simultaneously advancing ou
  
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• AO World to buy musicMagpie in £10m deal to ‘enhance its consumer tech offering’

  02-10-2024 08:51 via retailgazette.co.uk
  
  AO World has agreed to acquire musicMagpie in a £9.98m ($13.3m) deal, in a bid to boost its presence in the mobile and consumer tech market.The deal, which is expected to be completed in early 2025, received backing from musicMagpie’s board, with directors unanimously recommending the offer.
  Under the terms of the cash acquisition, musicMagpie shareholders will receive 9.07 pence per share, representing a 58% premium on its last closing price.
  AO World non-executive Chair Geoff Coop
  
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• JD Sports outperforms ‘volatile market’ with record sales and profit growth

  02-10-2024 08:37 via retailgazette.co.uk
  
  JD Sports has posted record sales and solid profit growth as it outperformed a “challenging and volatile market”.
  For the first half ending 3 August, the sportswear giant’s group sales rose 5.2% to £5bn as pre-tax profit hit £405m.
  CEO Régis Schultz said: “Our success is a direct reflection of the strength and agility of our global, multi-brand strategy, which allows us to adapt swiftly to fast-changing industry trends across the world, and our operatio
  
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• Gousto appoints Murray Lambell as chief customer officer

  02-10-2024 08:30 via theretailbulletin.com
  
  Recipe box specialist Gousto has appointed eBay veteran Murray Lambell as chief customer officer. Lambell worked with eBay from 2008 to 2023 where most recently he ran a... View Article
  
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• SportsShoes.com sees international sales surge by 22%

  02-10-2024 08:04 via theretailbulletin.com
  
  SportsShoes.com has posted a 22% increase in first half international sales after seeing a 17% uplift in new customers in Europe. Overseas customer orders were also... View Article
  
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• Authentic Brands Group completes acquisition of Champion

  02-10-2024 08:04 via theretailbulletin.com
  
  Authentic, the parent company of brands such as Billabong, Hunter and Nautica, has finalised its acquisition of athleticwear brand Champion. The company has acquired the business... View Article
  
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• Inside Frasers Group’s battle to take over Mulberry

  02-10-2024 07:57 via retailgazette.co.uk
  
  Things are getting fiesty in the Mulberry boardroom after shareholder Frasers Group launched a takeover bid to avoid “another Debenhams situation“.
  Mulberry may have swiftly rejected Frasers’ £83m offer, which it said “does not recognise the company’s substantial future potential value” of the business, but it’s not over just yet, knowing Mike Ashley’s Frasers Group.
  The luxury brand has the backing of majority shareholder Challice, which hol
  
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• Trust issues: why retailers need to prioritise staff wellbeing

  02-10-2024 06:00 via theretailbulletin.com
  
  Chris Brook-Carter, chief executive of the Retail Trust Issues with mental health are causing three quarters of retail workers to underperform at work. That’s according to... View Article
  
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