Retail news

• Thai Central Group brings Saudi fund PIF into Selfridges

  07-10-2024 20:25
  Deal for stake in department store and property business across three countries follows collapse of previous partner Signa
  
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• Interview: Isobel Rogers, Partnership Director at the newly formed CX Alliance (CXA)

  07-10-2024 18:00 via theretailbulletin.com
  
  The Retail Bulletin has announced the establishment of the CX Alliance (CXA), following the recent closure of CXFO, a CX industry body. Here Isobel Rogers tells... View Article
  
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• Interview with Isobel Rogers Partnership Director at the newly formed CX Alliance (CXA)

  07-10-2024 16:12 via theretailbulletin.com
  
  The Retail Bulletin has announced the establishment of the CX Alliance (CXA), following the recent closure of CXFO, a CX industry body. Here Isobel Rogers tells... View Article
  
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• John Lewis Partnership axes chief executive role under new chair

  07-10-2024 16:11
  Nish Kankiwala to become non-executive adviser as Jason Tarry accelerates turnaround planBusiness live – latest updatesThe first-ever chief executive of the John Lewis Partnership is having his role axed as part of a reshuffle under Jason Tarry, as the new chair accelerates a turnaround plan only weeks after taking the reins from his predecessor, Sharon White.JLP, which owns the Waitrose supermarket chain and 34 department stores, said Nish Kankiwala had agreed to step back as chief execut
  
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• The Very Group to appoint banks as it eyes £2.5bn sale

  07-10-2024 15:54 via retailgazette.co.uk
  
  The Very Group is set to enlist Barclays, JP Morgan, and Morgan Stanley to manage a strategic review that could potentially mark the end of the Barclay family’s long-standing ownership of the ecommerce giant.
  According to Sky News, the investment banks, whose appointments are likely to be confirmed within days, will kickstart a full or partial auction of The Very Group.
  Retail industry insiders speculated that the business, which owns very.co.uk and littlewoods.com, was likely to be valued
  
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• John Lewis CEO to step down to clear way for chair Jason Tarry

  07-10-2024 14:57
  After two years in the job, Nish Kankiwala will take up a non-executive adviser role to the board
  
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• How to balance AI-driven efficiency with people-centred retail innovation

  07-10-2024 13:51 via theretailbulletin.com
  
  How can retailers use artificial intelligence (AI) to optimise delivery and post-purchase processes while retaining the personal, human touch that remains vital to long-term success in... View Article
  
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• Matalan CEO exits after just 18 months

  07-10-2024 13:15 via retailgazette.co.uk
  
  Matalan chief executive Jo Whitfield has stepped down from the fashion retailer after just over 18 months.
  The retailer said Whitfield is leaving the business to “pursue a portfolio career”.
  The ex-Coop Food boss was named CEO of the fashion retailer in March last year, as she returned to Matalan having previously been its head of finance between 2002 and 2008.
  Under her helm, the retailer said it made “significant progress” in its turnaround strategy including the r
  
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• Footasylum secures £35m credit facility to drive UK expansion and green goals

  07-10-2024 13:04 via retailgazette.co.uk
  
  Footasylum has secured a £35m funding package from HSBC to fuel its expansion and sustainability initiatives across the UK and beyond.
  The funding includes a Sustainability Improvement Loan (SIL) that links interest rates to Footasylum’s environmental, social, and governance (ESG) performance, measured by EcoVadis.
  If the footwear retailer hits pre-agreed sustainability targets, it could benefit from lower interest rates on the loan.
  Since being acquired by Aurelius in 2022, Footasyl
  
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• John Lewis Partnership CEO steps back to non-exec role

  07-10-2024 12:51 via retailgazette.co.uk
  
  John Lewis Partnership boss Nish Kankiwala is to step back from his chief executive role as he reverts back to a non-executive.
  Kankiwala will resume his position on the board in March 2025 to support new chairman Jason Tarry, who succeeded Dame Sharon White last month.
  The former non-executive took up the CEO role in March 2023 to help White with the day-to-day running of the business and to “supercharge” its transformation.
  The John Lewis Partnership, which also owns Waitrose, slas
  
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• BREAKING: John Lewis Partnership CEO steps back to non-exec role

  07-10-2024 12:51 via retailgazette.co.uk
  
  John Lewis Partnership boss Nish Kankiwala is to step back from his chief executive role as he reverts back to a non-executive. Related StorySosandar to open fourth store in Cardiff amid UK expansion07/10/2024 x 11:11 AMMore to follow
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• Sosandar to open fourth store in Cardiff amid UK expansion

  07-10-2024 12:11 via retailgazette.co.uk
  
  Sosandar is set to open its fourth store in Cardiff’s St David’s shopping centre.
  The launch comes after the British fashion retailer recently opened stores in Chelmsford, Marlow and the Metrocentre, Newcastle.
  Last month, it unveiled plans to expand into Ireland with an in-store launch at Arnotts, Ireland’s largest department store, following its successful online partnership with the retailer.
  In July, the retailer also revealed plans to open up to 50 stores as it ramps up it
  
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• M&S trials drones to produce lower carbon parsnips

  07-10-2024 11:16 via retailgazette.co.uk
  
  M&S has started using drones and robot tractors to produce its parsnips ahead of the festive season.
  The food and fashion giant claims to be the first UK retailer to trial an “autonomous field” farming method in attempts to improve its crop quality and quantity and drive down its carbon emissions.
  M&S planted its first set of the parsnips back in March in Yorkshire in partnership with its root vegetable supplier, Huntapac, with two robots used for bed forming, weeding and pla
  
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• Dunelm to open first central London store at Westfield this winter

  07-10-2024 10:48 via retailgazette.co.uk
  
  Dunelm is set to open its first central London store inside the capital’s Westfield White City shopping centre.
  The homeware retailer’s 4,500sq ft space will open this winter, offering an easy-to-shop environment in a high footfall location as it looks to boost its presence in the capital.
  Products will cover Dunelm’s home and furniture categories and will include the latest collections and collaborations. Related StoryDunelm delivers solid profit growth despite ‘softer&r
  
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• Sainsbury’s to hire 20,000 seasonal staff in run-up to Christmas

  07-10-2024 09:46 via theretailbulletin.com
  
  Sainsbury’s has announced plans to create 20,000 seasonal jobs across its stores and home delivery services in the lead-up to Christmas as it prepares for the... View Article
  
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• Carpetright owner Nestware takes £10.8m hit from The Floor Room administration

  07-10-2024 09:43 via retailgazette.co.uk
  
  Carpetright owner Nestware has taken a £10.8m hit from the closure of its The Floor Room business.
  The group put the upmarket flooring provider into administration at the start of August, resulting in 201 jobs losses.
  The Floor Room was the sole provider of flooring and related products in all John Lewis department stores since May 2023 and operated one standalone London store. Related StoryJohn Lewis boss aims to turn Peter Jones into ‘world flagship’02/10/2024 x 10:06 AMAt th
  
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• Maximising the Golden Quarter – The time to plan for seasonal staffing is now

  07-10-2024 09:26 via theretailbulletin.com
  
  Author: Chris Grimes, Sales Director, Matrix Workforce Management For retailers, the Golden Quarter, spanning October through December, is the most critical time of year. This period... View Article
  
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• Richemont to sell struggling Yoox Net-a-Porter to Mytheresa

  07-10-2024 09:23
  Losses at YNAP have cost its parent billions of euros in writedowns
  
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• Sainsbury’s creates 20,000 seasonal roles ahead of Christmas

  07-10-2024 09:16 via retailgazette.co.uk
  
  Sainsbury’s has launched its recruitment drive for thousands of temporary jobs nationwide ahead of the busy festive season.
  The supermarket giant is recruiting 18,000 roles at Sainsbury’s and 2,000 at Argos across its shop floor, warehouse teams and delivery fleet.
  Successful applicants will be employed on fixed-term contracts ranging from three weeks to three months. Related StoryM&S kicks off recruitment for 11,000 festive roles02/10/2024 x 10:18 AMHourly pay for in-store and w
  
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• Updated: Net-a-Porter owner YNAP snapped up by MyTheresa

  07-10-2024 09:00 via retailgazette.co.uk
  
  Luxury conglomerate Richemont has agreed to sell its Yoox Net-a-Porter business to German ecommerce platform MyTheresa in exchange for a 33% stake in the business, it confirmed on Monday.
  MyTheresa will own 100% of the share capital of YNAP following the deal, which is due to close in the first half of 2025.
  Richemont is selling the business with a cash position of £463m (€555m) and will also provide a six year £83m (€100m) revolving credit facility to help finance YNAP. It
  
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• Mulberry founder looks to LVMH amid Frasers takeover battle

  07-10-2024 08:55 via retailgazette.co.uk
  
  The founder of Mulberry said the brand would be a more natural fit with the likes of a big luxury player such as LVMH following last week’s takeover bid from Mike Ashley’s Frasers Group.
  Roger Saul admitted the retailer had struggled in recent years, claiming it has become “too reliant on handbags”.
  Saul told This is Money: “The company needs to go back to the spirit of the brand as a whole.” Related StoryInside Frasers Group’s battle to take over Mulber
  
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• Hobbs upsizes and relocates at Victoria Leeds

  07-10-2024 08:54 via theretailbulletin.com
  
  Hobbs, the premium women’s fashion brand, is upsizing at Victoria Leeds by relocating from Victoria Quarter to a 30% larger unit at Victoria Gate. Due to... View Article
  
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• Hobbs to upsize and relocate at Victoria Leeds

  07-10-2024 08:54 via theretailbulletin.com
  
  Hobbs, the premium women’s fashion brand, is upsizing at Victoria Leeds by relocating from Victoria Quarter to a 30% larger unit at Victoria Gate. Due to... View Article
  
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• Wolf & Badger introduces new pet category

  07-10-2024 08:31 via theretailbulletin.com
  
  Wolf & Badger, the marketplace for independent brands, has introduced a new luxury pet product category. In a statement, the retailer said it had made the... View Article
  
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• Whittard of Chelsea boosted by UK growth and international expansion

  07-10-2024 08:31 via theretailbulletin.com
  
  Whittard of Chelsea delivered an 8% increase in sales to £45.7 million last year as it benefited from “robust” domestic growth and international expansion. The tea,... View Article
  
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• ScS Recognised for ‘Commitment to People’ Award

  07-10-2024 08:31 via theretailbulletin.com
  
  Furniture retailer ScS has been awarded the ‘Commitment to People’ recognition at the People in Retail Awards 2024, celebrating its substantial efforts in building a supportive,... View Article
  
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• Dunelm to open first central London store

  07-10-2024 08:31 via theretailbulletin.com
  
  Homewares retailer Dunelm is to open its first central London store at the Westfield London shopping centre. Due to launch this winter, the 4,500 square foot... View Article
  
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• Seven & i looks to bolster takeover defences with non-core asset sales

  07-10-2024 03:04
  Owner of 7-Eleven brand considers disposing of supermarket chain and selling stake in Seven Bank
  
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• More than 70 retailers urge Reeves to make 20% cut to business rates

  07-10-2024 01:01
  In letter to chancellor, Tesco and M&S are among firms warning tax could result in widespread store closuresMore than 70 retailers, including Tesco, Marks & Spencer and Ikea, are lobbying the chancellor, Rachel Reeves, for a 20% cut to business rates, warning that the property tax could force tens of thousands of shops to shut.In a letter to Reeves coordinated by the British Retail Consortium (BRC), executives are pushing the Treasury to introduce a “retail rates corrector” o
  
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• M&S, Primark, Ikea and Tesco bosses call on government to reform business rates

  07-10-2024 01:01 via retailgazette.co.uk
  
  More than 70 retail bosses including execs from M&S, Primark, Poundland, Ikea and Tesco have written to Chancellor Rachel Reeves calling for reform of the current business rates system ahead of the Autumn Statement at the end of this month.
  The open letter, coordinated by the British Retail Consortium, urges the new Chancellor to “level the playing field between industries with a retail adjustment to rates”.
  It asks Reeves to introduce a Retail Rates Corrector – a 20% downw
  
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