Retail news

• Former Abercrombie CEO out on $10m bond amid sex-trafficking investigation

  22-10-2024 22:51
  
  Authorities investigate allegations Mike Jeffries and others sexually exploited and abused young men at partiesThe former Abercrombie & Fitch CEO Mike Jeffries was arrested on Tuesday as part of a criminal sex trafficking investigation by federal prosecutors, the FBI in Brooklyn and the New York police department have announced.Authorities allege that Jeffries, his British partner Matthew Smith and a third man, Jim Jacobson, ran an “international sex trafficking organization” tha
  
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• Walmart and Amazon threaten US drugstores in prescription delivery

  22-10-2024 22:06
  
  Launch of same-day services adds to pressure on struggling pharmacy chains such as CVS and Walgreens
  
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• Authorities announce arrest of former Abercrombie & Fitch CEO over alleged sex trafficking – video

  22-10-2024 20:19
  
  The US attorney for the eastern district of New York, Breon Peace, announced at a press conference that authorities had arrested the former CEO of Abercrombie & Fitch, Mike Jeffries, amid an investigation into sex trafficking allegations. Jeffries's British partner, Matthew Smith, and a third man, Jim Jacobson, were also arrested. Peace said the arrests should serve as a warning to perpetrators abusing vulnerable young people who fall prey to the 'casting couch' culture of sexual abuse and m
  
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• Former Abercrombie & Fitch chief Mike Jeffries charged with sex trafficking

  22-10-2024 19:34
  US indictment alleges former executive often recruited male models with the promise of appearing in the retailer’s ads
  
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• Former Abercrombie & Fitch CEO Mike Jeffries charged with sex trafficking

  22-10-2024 19:34
  
  US indictment alleges former executive often recruited male models with the promise of appearing in the retailer’s ads
  
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• L’Oréal sales disappoint due to weak Chinese demand

  22-10-2024 18:49
  
  Revenue at world’s biggest beauty company grew 3.4 per cent in third quarter, when analysts expected 6 per cent
  
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• H&M to re-release iconic designer outfits to mark 20th anniversary of collaborations

  22-10-2024 18:48 via retailgazette.co.uk
  
  H&M will celebrate the 20th anniversary of its guest designer collaborations by revisiting and releasing some of its most popular collaborative collections, including its tie-ups with Marni and Moschino.
  The Swedish fashion retailer launches it’s first designer tie-up with Karl Lagerfeld, then Chanel’s creative director, in 2004.
  The first-of-its-kind partnership made the luxury fashion house more accessible and set the stage for future collaborations between high-street retailer
  
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• Former Abercrombie & Fitch boss arrested on sex trafficking charges

  22-10-2024 17:44 via retailgazette.co.uk
  
  Former Abercrombie & Fitch boss Mike Jeffries and his partner Matthew Smith have been arrested amid sex trafficking charges.
  The couple and their alleged middleman were arrested this morning (22 October), the BBC reported, with the FBI and prosecutor’s office thought to reveal more details during an upcoming press conference.
  Lawyers for Jeffries and Smith have previously denied any allegations by both men.
  Speaking to the BBC, Jeffries’ lawyer said: “We will respond in det
  
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• Walmart and Amazon take on US pharmacies in prescription delivery

  22-10-2024 16:32
  
  Launch of same-day services puts new pressure on struggling drugstore chains such as CVS and Walgreens
  
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• Former Abercrombie CEO arrested amid sex trafficking investigation

  22-10-2024 16:17
  
  Authorities investigate allegations Mike Jeffries and others sexually exploited and abused young men at partiesThe former Abercrombie & Fitch CEO Mike Jeffries was arrested on Tuesday as part of a criminal sex trafficking investigation by federal prosecutors and the FBI in Brooklyn, according to news reports.Jeffries was arrested with his British partner, Matthew Smith, and a third man, Jim Jacobson, as authorities investigate allegations that the men sexually exploited and abused young men
  
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• AllSaints names FatFace digital director as new ecommerce boss

  22-10-2024 16:09 via retailgazette.co.uk
  
  AllSaints has hired Fatface digital director Liam Price to head up its ecommerce operations.
  The new global ecommerce director started at the fashion retailer this week after stepping down as head of digital at FatFace last month.
  Price wrote on LinkedIn: “I’m really excited to announce I’ve joined the amazing team at AllSaints & John Varvatos as Global e-Commerce Director.
  “The team has been so welcoming and I couldn’t be more excited to be part of these iconic
  
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• Halfords’ customers remain cautious ahead of autumn Budget

  22-10-2024 14:20 via theretailbulletin.com
  
  Halfords has posted a small drop in sales in the six months to 27 September as its customers remain cautious about spending ahead of the autumn... View Article
  
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• Cost-cutting drives Virgin Wines back to profitability

  22-10-2024 13:21 via retailgazette.co.uk
  
  Virgin Wines has returned to profitability after implementing a significant cost-cutting initiative across the business.
  Despite group sales remaining flat at £59m, the wine specialist shifted from a pre-tax loss of £700,000 to a £1.7m pre-tax profit for the year ending 28 June 2024.
  The retailer attributed the turnaround to increased operational efficiency, with its cost-cutting measures delivering £1.4m in annual savings.
  Virgin Wines CEO Jay Wright said he was “d
  
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• Sosandar cuts losses despite weak sales in first half

  22-10-2024 13:13 via retailgazette.co.uk
  
  Sosandar has narrowed its losses despite posting a near 30% drop in first half sales.
  The women’s fashion retailer reduced its pre-tax loss to £0.7m in the six months to 30 September, down from a £1.3m loss in the same period last year.
  Sales plunged 27% to £16.2m, down from £22.2m the previous year.
  During the period, the retailer opened its first three UK stores in Marlow, Chelmsford, and Gateshead’s Metrocentre. It is also planning to launch a store at St
  
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• Mulberry rejects fresh bid from Mike Ashley’s Frasers Group as ‘untenable’

  22-10-2024 11:35
  
  Frasers had raised its offer from 130p to 150p a share, valuing the British luxury handbag maker at £111mBusiness live – latest updatesThe British luxury handbag retailer Mulberry has rejected an increased £111m bid from Mike Ashley’s Frasers Group, describing it as untenable.Frasers, which already owns 37% of the company, increased its offer to 150p a share on 11 October from 130p, which had valued Mulberry at £83m. However, the retailer’s biggest shareholder
  
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• Gear4music returns to growth amid new strategy

  22-10-2024 11:09 via retailgazette.co.uk
  
  Gear4Music has reported a return to revenue growth as its new growth strategy begins to pay off.
  The online music retailer achieved a 1% increase in revenue in its second quarter, while total revenue for the six months to 30 September dipped 1% to £61.7m,
  In June, Gear4Music launched a strategy aimed at returning to profit by 2024. It reported a pre-tax profit of £0.6m for the year ending March 2024, a turnaround from a £0.4 million loss the previous year.
  For the first half of
  
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• Shoe Zone profit plunges 42% in ‘year of two halves’

  22-10-2024 10:30 via retailgazette.co.uk
  
  Shoe Zone has posted a decline in both revenue and profit as weak consumer demand and rising costs impact the budget footwear retailer during a revamp of its physical stores.
  For the year ending 28 September, revenue fell by 2.7% to £161.3m, down from £165.7m in the previous year.
  Pre-tax profit at the retailer dropped 42% to £9.5m, attributed to unseasonably wet weather and year-on-year increases in costs related to energy, depreciation, the National Living Wage, and container
  
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• Wickes third quarter sales boosted as customers rush to finish summer projects

  22-10-2024 10:21 via retailgazette.co.uk
  
  Wickes has posted a rise in third quarter sales, benefiting from pent-up demand as customers completed summer projects.
  Sales for the DIY retailer rose 2.1% to £391.3m in the 13 weeks to 28 September, driven by a 4.7% increase in retail sales to £312.1m.
  It attributed the growth from customers “catching up on outdoor projects delayed by the wet weather during spring and early summer”.
  Sales through its TradePro offer jumped 16% over the quarter and though it said its DIY
  
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• Kevel partners with the world’s largest home improvement retailer to in-house its retail media technology for Orange Apron MediaK

  22-10-2024 10:13 via theretailbulletin.com
  
  Leveraging Kevel’s API-powered Retail Media CloudTM solution, The Home Depot in-houses the technology powering Orange Apron Media to stay at the forefront of the Retail Media... View Article
  
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• Wickes revenue boosted by pent-up demand

  22-10-2024 09:40 via theretailbulletin.com
  
  Wickes has delivered an improvement in sales and volume growth in its retail business, with like-for-like sales up 4.2% in its third quarter. This compares to... View Article
  
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• Kevel partners with the world’s largest home improvement retailer to in-house its retail media technology for Orange Apron Media

  22-10-2024 09:40 via theretailbulletin.com
  
  Leveraging Kevel’s API-powered Retail Media CloudTM solution, The Home Depot in-houses the technology powering Orange Apron Media to stay at the forefront of the Retail Media... View Article
  
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• Mulberry rejects Frasers Group’s takeover offer

  22-10-2024 09:20 via theretailbulletin.com
  
  Mulberry has rejected an increased takeover bid of £111 million from Sports Direct owner Frasers Group. In a statement, the luxury fashion brand said its board... View Article
  
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• Halfords posts flat sales as consumers remain cautious on spending

  22-10-2024 09:12 via retailgazette.co.uk
  
  Halfords has posted flat sales in its first half as it warned consumers remain cautious in their discretionary spend ahead of the upcoming Autumn Budget at the end of this month.
  The motoring and cycling retailer reported like-for-like sales were broadly flat, slipping 0.1% in comparison to strong prior year comparatives of an 8.3% increase.
  This was dragged down by a 0.7% fall in like-for-likes of its retail business, which it attributed in part to “the UK’s wettest spring since 198
  
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• Sosandar’s losses narrow as it focuses on margin enhancement to improve profitability

  22-10-2024 09:04 via theretailbulletin.com
  
  Sosandar has seen its first half revenue decline to £16.2 million from £22.2 million a year earlier as it focuses on margin enhancement to drive profitable... View Article
  
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• Harrods settling more than 250 claims against ex-owner Al Fayed

  22-10-2024 08:52 via retailgazette.co.uk
  
  Harrods is in the process of settling more than 250 claims for compensation brought by women who allege sexual misconduct by its former owner Mohamed Al Fayed.
  The luxury department store told the BBC that the women have come forward since the release of the broadcaster’s documentary last month.
  The investigation revealed decades of serious sexual abuse allegations including rape and attempted rape by Al Fayed, who owned Harrods between 1985 and 2010.
  The department store’s new owner
  
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• Mulberry rejects Frasers Group’s increased £111m takeover offer

  22-10-2024 08:33 via retailgazette.co.uk
  
  Mulberry has rejected Frasers Group’s increased takeover bid of £111m as tensions rise between the group’s major shareholder and the Flannels owner.
  The luxury handbag retailer said it had considered the position of majority shareholder Challice, which said last week that it had “no interest in either selling its Mulberry shares to Frasers or providing Frasers with any irrevocable or other undertaking with regards the possible offer”.
  In a statement on Tuesday, 
  
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• White Stuff rolls out petite collection to 50 stores

  22-10-2024 08:00 via theretailbulletin.com
  
  Lifestyle fashion brand White Stuff has rolled out a petite collection to 50 stores following its launch as an online-only offering early last year. The 190-piece... View Article
  
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• Ashley Centre enhances tenant mix with two new retailers

  22-10-2024 08:00 via theretailbulletin.com
  
  Epsom’s Ashley Centre has welcomed ProCook to its line-up and signed Oliver Bonas for a new store.  Founded 28 years ago, kitchenware brand ProCook has launched... View Article
  
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• Retail Transformation: From the Saddle to the Armchair

  22-10-2024 07:00 via theretailbulletin.com
  
  The digital revolution has fundamentally transformed how consumers interact with retail, making it an exciting time for various industries, including the niche markets of horse racing... View Article
  
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