Retail news

• Walgreens to shut 1,200 US stores with stock trading near 30-year lows

  15-10-2024 16:09
  
  Pharmacy chain operator has been hit by sluggish consumer spending and low drug reimbursement ratesWalgreens Boots Alliance said on Tuesday it would shut 1,200 stores over the next three years as the new CEO, Tim Wentworth, plots a turnaround at the struggling pharmacy chain operator hit by sluggish consumer spending and low drug reimbursement rates.The company also narrowly beat Wall Street’s lowered estimates for fourth-quarter adjusted profit, and forecast fiscal-year earnings that were
  
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• Young Australians aged 18 to 21 can vote. They should also be paid an adult wage | Intifar Chowdhury

  15-10-2024 16:00
  
  Opponents say abolishing junior pay rates would drive up youth unemployment – but there’s little evidence for that claimGet our breaking news email, free app or daily news podcastThe Australian Council of Trade Unions is leading a renewed push for junior pay rates to be scrapped for adults aged between 18 and 21, in a move that could affect the livelihoods of about 500,000 young Australian workers.Today younger workers can earn significantly less than their older colleagues, even whe
  
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• The Temu pig T-shirt: the truth behind a tremendously disturbing top

  15-10-2024 16:00
  
  It is nightmarish, haunted and cursed – but makes perfect sense when you consider its retailer’s business model. After all, no one can argue it isn’t eye-catching ...Name: Temu’s “Stylish Pig Pattern Shirt”.Age: It seemed to spring fully formed from a nightmare on to the internet last weekend, but the image was created to sell air fryers in 2017. Continue reading...
  
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• Boots delivers 14th consecutive quarter of growth after ‘excellent’ Q4

  15-10-2024 15:39 via retailgazette.co.uk
  
  Boots has delivered an “excellent” fourth quarter, with retail sales up 6.2%, driven by skincare and premium beauty.
  The health and beauty giant’s strong performance helped drive 6.9% sales growth for the year ending 31 August.
  Boots saw growth across all categories with store performance “boosted by sales growth in destination health and beauty, convenience and flagship stores”, and airport sales also saw good growth.
  Digitall sales rose 18.7%, accounting for nearl
  
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• Fenwick department store chain reports seventh year of losses

  15-10-2024 15:01
  
  Family-owned group closed shop on London’s Bond Street in February and has eight stores led by NewcastleBusiness live – latest updatesThe department store chain Fenwick, which closed its historic shop on London’s Bond Street in February, has reported its seventh year of losses as sales fell.The family-owned group, which is left with eight department stores led by Newcastle, said sales fell 3% to £299m in the year to January and it almost halved losses to £38m. Conti
  
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• Frasers Group snaps up ‘significant’ stake in African fashion distributor Hudson Malta

  15-10-2024 13:50 via retailgazette.co.uk
  
  Frasers Group has acquired a stake in premium sport and fashion retail and distributor Hudson Malta as it continues its international expansion.
  The Sports Direct owner has purchased a “significant non-controlling shareholding” in the Malta based business that operates across 36 African countries.
  Hudson lists brands such as Nike, Converse, Timberland, Columbia, New Era, Mango, The North Face and Tommy Hilfiger in its portfolio.
  The deal includes the possibility for Frasers to made a
  
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• Frasers Group acquires stake in fashion retailer and distributor, Hudson Malta

  15-10-2024 13:40 via theretailbulletin.com
  
  Frasers Group has acquired a significant non-controlling stake in Hudson Malta, a retail and distribution business based in Malta. The move forms part of Frasers Group’s... View Article
  
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• Currys upgrades flexible payment options as demand soars

  15-10-2024 12:56 via retailgazette.co.uk
  
  Currys has refreshed and rebranded its credit offer as demand for its flexible payment options surges.
  Customers will be able to choose to spread the cost of their purchases through fixed monthly payments or via the buy now, pay later in store and online.
  The Currys flexpay service, formerly Your Plan, is also now available on more categories and gives users better visability of their credit balance across previous purchases.
  It comes as the electricals giant found that £1 in every £
  
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• Fenwick drops to £38.1m loss as sales slide in ‘challenging’ enviroment

  15-10-2024 11:29 via retailgazette.co.uk
  
  Fenwick has swung to a loss amid a “challenging retail environment” as high inflation weighed on sales and costs.
  The department store chain posted a loss before tax of £28.4m in the year to 26 January, compared to a profit of £57.1m the year prior.
  It comes as sales slipped 7% to £184.2m, down from £199.7m.
  Fenwick citied a “challenging backdrop to sales” as it blamed high mortgage rates and inflation on “contributing further to the ongoing
  
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• H&M launches Selfridges pop-up for new premium kidswear range

  15-10-2024 11:09 via retailgazette.co.uk
  
  H&M has opened a pop-up space dedicated to its new premium childrenswear line at Selfridges, marking its first foray into department stores.
  H&M Adorables, which launched worldwide this month, is “rooted in a timeless aesthetic and high-quality materials”, designed for longevity, according to the fashion retailer.
  Garments in the range include cashmere, organic cotton blouses and premium wool knitwear. Related StoryH&M hit by flat sales in ‘challenging’ q
  
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• Retail HR Summit review: Flexibility key to future HR success

  15-10-2024 09:56 via theretailbulletin.com
  
  Flexibility is proving to be an increasingly important attribute of retailers and their HR functions as the more progressive players adopt such an approach to a... View Article
  
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• Footasylum appoints chief commercial officer and senior buying director

  15-10-2024 09:23 via theretailbulletin.com
  
  Footasylum has appointed Will Van Rensburg (pictured) as chief commercial officer and Glen Wilkinson as senior buying director. Having joined the company in September, Van Rensburg... View Article
  
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• Hobbs owner TFG to open largest multi-brand flagship at Liverpool One

  15-10-2024 09:08 via retailgazette.co.uk
  
  TFG London, the owner of Hobbs, Whistles, Phase Eight and homeware retailer Inside Story, is set to open its largest store at Liverpool One.
  Set to open next spring on South John Street, the 12,000 sq ft flagship will house Hobbs’ luxury fashion, Phase Eight’s occasionwear, and Whistles’ contemporary womenswear, along with specialist collections such as bridal and petite ranges and a luxury styling suite for event shoppers.
  Inside Story will include a homewares department with
  
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• Victorian Plumbing benefits from “robust” customer demand

  15-10-2024 08:56 via theretailbulletin.com
  
  Victorian Plumbing has said its adjusted EBITDA for the year to 30 September 2024 is anticipated to be in line with market expectations. In a trading... View Article
  
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• Simon Wolf on Leading WOLF: Balancing tradition, innovation and a 190-year legacy

  15-10-2024 08:56 via theretailbulletin.com
  
  [Interview] WOLF, a family-owned business for over five generations, is celebrating its 190th anniversary. CEO Simon Wolf reflects on the brand’s enduring success, balancing tradition with... View Article
  
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• Victorian Plumbing to shut rival Victoria Plum following £2m loss

  15-10-2024 08:50 via retailgazette.co.uk
  
  Victorian Plumbing is set to Victoria Plum, the rival it acquired in May, after incurring a nearly £2m loss since the purchase.
  The retailer said it plans to cease operations by 31 December after it recently finalised a consultation process with Victoria Plum’s workforce.
  In a trading update for the full year ending September, the bathroom specialist said it expects its adjusted EBITDA for the year to meet market expectations, fueled by strong customer demand.
  It saw revenue rise 4%,
  
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• Victorian Plumbing sees growth thanks to ‘robust’ customer demand

  15-10-2024 08:50 via retailgazette.co.uk
  
  Victorian Plumbing has said it expects its adjusted EBITDA for the year ending 30 September 2024 to meet market expectations.
  The bathroom specialist saw a 4% revenue rise, though like-for-like revenue fell 1% when excluding its acquisition of Victoria Plum.
  “Robust customer demand” drove a 10% growth in order volume, reaching a record 1,021,000 orders, up from 932,000.
  The retailer said customers are responding well to its own brand ranges which has led to strong gross margin gains.
  
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• Footasylum boosts leadership team with former Clarks and Under Armour execs

  15-10-2024 08:37 via retailgazette.co.uk
  
  Footasylum has appointed former Under Armour executive Will Van Rensburg as chief commercial officer and ex-Reebok product chief Glen Wilkinson as senior buying director
  Van Rensburg, who joined last month from Clarks, brings nearly eight years of experience from Under Armour, where he was global commercial director from 2020 to 2023.
  He will oversee commercial operations and drive the sportswear retailer’s growth strategy.
  Wilkinson will start later this month, working with chief product
  
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• Footasylum boosts leadership team with former Clarks and Reebok execs

  15-10-2024 08:37 via retailgazette.co.uk
  
  Footasylum has strengthened its leadership team by hiring former Under Armour executive Will Van Rensburg as chief commercial officer and ex-Reebok product chief Glen Wilkinson as senior buying director.
  Van Rensburg, who joined last month from Clarks, brings nearly eight years of experience from Under Armour, where he was global commercial director from 2020 to 2023. He will oversee commercial operations and drive the sportswear retailer’s growth strategy.
  Wilkinson will start later this
  
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• Wilko partners with Deliveroo for rapid home and garden delivery

  15-10-2024 08:26 via retailgazette.co.uk
  
  Wilko has become the latest retailer to partner with Deliveroo, offering shoppers on-demand delivery of over 3,000 home and garden products in as little as 25 minutes.
  Launching from 10 locations, including Edinburgh, Bristol, and Nottingham, the service will expand to an additional 50 locations by the end of the year.
  This marks Wilko’s first venture into rapid delivery services, allowing customers to access a range of products from garden supplies to cleaning essentials directly from the
  
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• Go Outdoors opens new Express store in Cheltenham

  15-10-2024 08:22 via theretailbulletin.com
  
   Go Outdoors has opened a new Express store  in Cheltenham’s The Brewery Quarter. The 15,500 square foot space offers a wide range of brands such as... View Article
  
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• Asda invests in new bio-LNG refuelling stations

  15-10-2024 08:16 via theretailbulletin.com
  
  Asda is investing in two new Bio-LNG refuelling facilities as part of plans to reduce its overall carbon emissions. Working with Gasrec, a major fuel provider... View Article
  
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• H&M launches pop-up for premium kidswear concept at Selfridges

  15-10-2024 07:38 via theretailbulletin.com
  
  H&M has opened a pop-up space at Selfridges London for its new new premium childrenswear line. The move marks the fashion retailer’s first foray into department... View Article
  
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• ‘800lb gorilla’: luxury brands battle China’s hit grey-market app

  15-10-2024 03:19
  
  Sales of top brands on DeWu make up estimated 70% of country’s grey market as consumers hunt for lower prices
  
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