Retail news

• Tesco is unbeatable when it concentrates on the day job | Nils Pratley

  03-10-2024 19:29
  Having exited most of its overseas adventures the retailer is an advertisement for the virtues of sticking to the knittingIt is 17 years since the management of Tesco suffered a severe case of hubris and thought they could conquer the US. A supposedly small experiment with a format called Fresh & Easy ended in an embarrassing retreat and a near-£2bn write-off. And it is 10 years since the great accounting scandal and the bullying of suppliers, a crisis era mixed up with wacky diversion
  
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• The price of private equity may be too high for Asda

  03-10-2024 13:54 via ft.com
  
  TDR Capital’s majority ownership of the struggling UK supermarket chain is a test for the industry
  
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• ‘Because secondhand is feckin’ grand’: how clothes swapping became huge in Ireland

  03-10-2024 13:46
  
  After seeing the consequences of fast fashion, one woman is on a mission to change the way we think about repurposing clothesMary Fleming was on holiday in Kenya when she saw it: a mound of secondhand clothes heaped by a river, the pile so vast and unruly it was spilling into the water.The sight shocked her. At home in Ireland she was a passionate shopper and bought a new outfit almost every weekend. Now in east Africa she was seeing the consequence of fast fashion and mass consumption. Continue
  
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• Listed landlords gaining upper hand over private equity, says British Land boss

  03-10-2024 12:12 via ft.com
  
  Simon Carter says higher debt costs have levelled the playing field as UK property group buys several retail parks
  
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• Bravissimo joint winners of Customer Service Team of the Year

  03-10-2024 12:09 via theretailbulletin.com
  
  Bravissimo’s Customer Service Team: Leading the way in exceptional customer Care. Bravissimo, a retailer that’s more than just about lingerie and swimwear, has won the prestigious... View Article
  
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• Tesco boss says new workers’ rights laws must not hurt growth

  03-10-2024 11:18
  
  Bill is likely to include measures such as ending ‘exploitative’ zero-hours contracts and changes to sick payBusiness live – latest updatesUK politics live – latest updatesThe boss of Tesco has called on the UK government to work with business to ensure new legislation to improve workers rights also increases productivity and growth as the retailer revealed better-than-expected profits.Ken Murphy, the chief executive of the UK’s biggest supermarket, said he was keen
  
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• Bravissimo a joint winners of Customer Service Team of the Year

  03-10-2024 11:15 via theretailbulletin.com
  
  Bravissimo’s Customer Service Team: Leading the way in exceptional customer Care. Bravissimo, a retailer that’s more than just about lingerie and swimwear, has won the prestigious... View Article
  
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• UK consumers in ‘good shape’ ahead of Christmas, says Tesco boss

  03-10-2024 10:11 via ft.com
  Britain’s biggest supermarket chain raises profit outlook on rise in sales as inflation eases
  
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• B&Q launches range of refurbished tools

  03-10-2024 09:51 via theretailbulletin.com
  
  B&Q is expanding the way its customers can use and purchase tools by offering a range of refurbished products as part of its Refurbed by B&Q range.... View Article
  
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• The 2024 UK’s best workplaces in Retail, Hospitality & Leisure 2024

  03-10-2024 09:27 via theretailbulletin.com
  
  Retail, hospitality and leisure are the backbone of consumer economies. And despite the ongoing cost-of-living crisis, UK retail sales in 2023 alone were reportedly worth £510... View Article
  
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• Tesco raises full year profit guidance after strong first half performance

  03-10-2024 09:27 via theretailbulletin.com
  
  Tesco has raised its full year profit guidance after posting uplifts in sales and profit in the six months to 24 August 2024. Group sales increased... View Article
  
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• Diversity in Retail (DiR) Wins Retail Association of the Year Award

  03-10-2024 09:27 via theretailbulletin.com
  
  Diversity in Retail (DiR) has been honoured as the Retail Association of the Year for their outstanding work in promoting diversity, equity, and inclusion (DEI) across... View Article
  
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• British Land snaps up 7 UK retail parks in £441m deal

  03-10-2024 09:20 via retailgazette.co.uk
  British Land has acquired a portfolio of seven UK retail parks from Canadian investment giant Brookfield for £441m, boosting its position in the retail park market.
  The The FTSE 100 landlord will partially fund the acquisition through a proposed equity placing to raise around £300m, the Times reported.
  British Land CEO Simon Carter expressed his support for retail parks, citing what he refers to as “the three As”: affordability due to generally lower rents; adaptability,
  
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• Sainsbury’s CEO calls for UK Budget action to boost consumer confidence

  03-10-2024 08:56 via retailgazette.co.uk
  
  Sainsbury’s CEO has said Brits hit by the cost-of-living crisis are unlikely to resume strong spending until the new Labour government sets out its tax and spending plans, and interest rates fall further.
  Simon Roberts told Reuters that even with falling inflation, rising wages, and strong employment rates, UK consumers are still nervous to purchase larger items.
  “Discretionary markets continue to be difficult,” Roberts told the outlet.
  “Consumers inevitably are wanting t
  
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• Tesco raises profit forecasts after strong first half

  03-10-2024 08:43 via ft.com
  UK’s biggest supermarket chain reports rise in sales as inflation eases
  
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• Tesco CEO says it’s ‘in good shape’ as it raises profit expectations

  03-10-2024 08:35 via retailgazette.co.uk
  
  Tesco has raised its profit guidance for the year after posting a 10% rise in first-half profit.
  The supermarket giant now expects to deliver around £2.9bn in retail adjusted operating profit, up from its previous forecast of “at least £2.8 bn”.
  Tesco’s retail adjusted operating profit hit £1.56bn, up 10% on the previous year while sales grew 4% to £31.5bn over the half year to August 24.
  UK like-for-like sales rose 3.5% in its second quarter, havin
  
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• Miniso opens first travel concept store

  03-10-2024 08:28 via theretailbulletin.com
  
  Miniso is opening its first travel concept store today at London’s Paddington station. Called Miniso-Go, the 400 square foot space is situated at the TFL entrance... View Article
  
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• Topps Tiles reports decline in sales after “challenging” year

  03-10-2024 08:04 via theretailbulletin.com
  
  Topps Tiles has reported a drop in annual sales following the impact of challenging trading environment. In the 52 weeks to 28 September 2024, group sales... View Article
  
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