Retail news

• Boots says it will ‘draw lessons’ from research into links to slavery

  05-11-2024 21:36
  
  Report looked into donations to Nottingham universities by Jesse Boot, who expanded pharmacy chainThe high-street pharmacy Boots’s links to the transatlantic slave trade have been revealed in new research that shows how the proceeds of enslavement became entangled with British capitalism.Jesse Boot, the son of the company’s founder, expanded the chemist with the help of banks and premises linked to slavery. He was not identified as involved in the enslavement of people, the trade of
  
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• Asda trials self-service product returns and tobacco dispensing

  05-11-2024 20:42 via retailgazette.co.uk
  
  Asda is testing out a self-service returns “drop box” where shoppers can deposit unwanted or faulty products and be refunded automatically.
  Under trial at its Ashton-under-Lyne store in Greater Manchester, Asda customers who want to return goods, which can range from grocery items to electricals, scan their receipts and barcode at the self-service machine then drop their product into a chute or place in a cupboard.
  If a refund cannot be issued automatically, for example if the shoppe
  
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• Bernie Marcus, Home Depot cofounder and Trump mega-donor, dies aged 95

  05-11-2024 16:59
  
  Company announces death of billionaire who contributed millions to Republican party and former presidentThe billionaire Home Depot cofounder and outspoken supporter of Donald Trump, Bernard “Bernie” Marcus, has died, according to a company statement. He was 95.Marcus, a former pharmacist, was described as “a master merchant and a genius with customer service” who was “unparalleled in generosity and goodwill” in the statement by the company. Continue reading...
  
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• Hard-pressed shoppers will benefit as retailers carry ‘weight’ of UK tax rises, says Primark owner

  05-11-2024 16:42
  
  ABF boss George Weston says budget is positive for ‘the least affluent’ but will cost firm ‘tens of millions’ of poundsBritain’s high street retailers will carry the “weight of tax rises” announced in the budget, which will benefit “the least affluent” consumers, according to the chief executive of Primark’s parent company.George Weston, the chief executive of Associated British Foods (ABF), which owns Primark as well as food and sugar
  
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• Exclusive: Primark goes small with new format store

  05-11-2024 15:57 via retailgazette.co.uk
  
  Primark has unveiled its first small format store, in Portugal, which looks set to be the first of many with a second store planned in Bolton. Stores expert John Ryan visits the pint-sized Primark.
  At 50 most people would consider an individual to be ‘mature’. The same probably applies to retailers and with this sort of age comes both ‘wisdom’ and, occasionally, the perception of an unwillingness to change, much.  
  Primark, which today posted surging full-year p
  
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• Budget to benefit less affluent shoppers despite hit to business, says Primark owner

  05-11-2024 13:28
  
  ABF warns changes to national insurance and wages will cost it tens of millions but remains optimistic
  
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• Asos CEO ‘not worried’ about Vinted or Shein despite mounting losses

  05-11-2024 13:03 via retailgazette.co.uk
  
  Asos CEO José Antonio Ramos Calamonte has said he is “not worried” by rivals such as Shein or Vinted and insisted it can compete in the crowded fashion market.He explained “this is an incredibly fragmented market,” noting that fashion market leaders have 4 to 6% market share, “which means that there is enough space for everybody, provided you do a good job”.
  Rather than focusing on other players, Neves said Asos’ “obsession” is to do t
  
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• Sosandar partners with Next for new homewares range

  05-11-2024 11:58 via retailgazette.co.uk
  
  Sosandar has signed a licensing agreement with Next for a new homewares range, as part of its ongoing strategy to boost brand awareness.
  The pair have extended their partnership following the “success of Sosandar’s clothing range sold through Next,” with the tie-up set to combine the fashion giant’s sourcing and quality expertise with Sosandar’s design.
  The range which is expected to launch in autumn 2025, will include a full set of living room furniture and accesso
  
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• Asos slides to huge loss but insists it sees ‘green shoots’

  05-11-2024 11:55
  
  Online retailer was hit by cost of living pressures and was forced to offload piles of unsold stock at a discountBusiness live – latest updatesAsos has slumped to a wider full-year loss as it said customers are still grappling with cost of living pressures but insisted it was seeing “green shoots” of recovery after a two-year turnaround.José Antonio Ramos Calamonte, the Asos chief executive, said the market was still “volatile”. “I don’t think by
  
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• ATM Management announces The ATM Group

  05-11-2024 11:44 via theretailbulletin.com
  
  AT Management is delighted to announce the formation of The ATM Group, operating across the UK, Ireland, The Netherlands, and South Africa. This expansion combines the... View Article
  
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• AT Management announces The AT Group

  05-11-2024 11:44 via theretailbulletin.com
  
  AT Management is delighted to announce the formation of The ATM Group, operating across the UK, Ireland, The Netherlands, and South Africa. This expansion combines the... View Article
  
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• Less affluent shoppers will benefit from Budget despite hit to business, says Primark owner

  05-11-2024 11:00
  
  ABF optimistic despite predicting changes to national insurance and wages would cost it tens of millions
  
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• Watch: Waitrose unveils ‘whodunnit’ 2024 Christmas campaign

  05-11-2024 10:07 via retailgazette.co.uk
  
  Waitrose has launched the first instalment of its two-part star-studded festive ‘whodunnit’ Christmas advert.
  The campaign, titled ‘Sweet Suspicion, A Waitrose Mystery’, features Succession actor Matthew Macfadyen, comedian Joe Wilkinson, Sex Education’s Rakhee Thakrar and Sian Clifford from Fleabag.
  Dustin Demri-Burns from Slow Horses and Eryl Maynard of Agatha Christie’s Miss Marple also appear in the 90-second film directed to This is Going to Hurt’s
  
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• Primark full-year profit surges as its ‘low-cost model is as strong as ever’

  05-11-2024 09:47 via retailgazette.co.uk
  
  Primark full-year profits skyrocketed on the back of sales growth and significant margin recovery as the boss of parent company Associated British Foods George Weston declared: “Our low-cost model is as strong as ever.”
  Adjusted operating profit soared 51% to £1.1bn at the fashion retailer as margin rose from 8.2% last year to 11.7%.
  Sales jumped 6% to £9.4% as the value fashion giant heralded a strong performance across markets such as the US, France, Spain, Italy and Ce
  
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• Asos looks ahead to profitable growth as it posts full year loss

  05-11-2024 09:36 via theretailbulletin.com
  
  Asos has reported a full year loss and decline in revenue but insists it has laid the foundations for profitable growth as it continues to implement... View Article
  
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• Asos looks ahead to profitable growth as it post full year loss

  05-11-2024 09:36 via theretailbulletin.com
  
  Asos has reported a full year loss and decline in revenue but insists it has laid the foundations for profitable growth as it continues to implement... View Article
  
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• Can Boohoo Group new CEO Dan Finley keep Mike Ashley at bay?

  05-11-2024 09:03 via retailgazette.co.uk
  
  All eyes are on Boohoo Group’s new chief executive Dan Finley who is tasked with not only turning around the struggling online fashion group but dealing with disgruntled shareholder Mike Ashley.
  Finley’s appointment has further riled up Ashley.
  The retail entrepreneur, who owns a 27% stake in Boohoo via Frasers Group, branded his hire as “desperate” after Boohoo ignored Ashley’s request to put him in the hotseat.
  Ashley claimed last month that Boohoo “urgently
  
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• John Lewis partners with Klarna for ‘buy now pay later’ option

  05-11-2024 09:00 via retailgazette.co.uk
  
  John Lewis has become the latest retailer to partner with Klarna to provide its customers with a buy now, pay later option.
  The department store’s online customers can now choose to check out with the firm’s interest-free Pay in 3 product to spread the cost of their purchases over 60 days.
  It builds on the retailer’s current buy now, pay later offer on certain nursery and electrical products when they spend between £500 and £1,500.
  John Lewis Money director of credi
  
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• Burberry shares jump 7% following Moncler takeover reports

  05-11-2024 08:41 via retailgazette.co.uk
  
  Burberry shares jumped more than 7% yesterday morning following reports that Italian competitor Moncler is mulling a bid for the luxury retailer.
  The rise came after website Miss Tweed reported the rival was looking into a potential takeover of Burberry to create an outdoor clothing specialist giant.
  However, Moncler told The Guardian that it did not comment on “unsubstantiated rumours”. Related StoryWatch: Debenhams launches star-studded 2024 festive campaign01/11/2024 x 1:27 PMIt c
  
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• Asos posts £379m loss despite sales rising as it eyes loyalty programme rollout

  05-11-2024 08:37 via retailgazette.co.uk
  Asos posted another loss despite successfully slashing inventory levels and boosting full-price sales, as it remains focused on “sustainable, profitable growth”, including the launch of a loyalty programme.
  For the year ending 1 September, the online fashion giant posted a pre-tax loss of £379.3m, compared to a loss of £296.7 m the previous year, as adjusted group revenue fell by 16% to £2.9bn.
  However, Asos achieved an adjusted EBITDA of £80.1m, hitting the u
  
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• Asos losses widen to £379m but it sees ‘green shoots’

  05-11-2024 08:37 via retailgazette.co.uk
  Asos posted another loss despite slashing inventory levels and boosting full-price sales, as it remains focused on “sustainable, profitable growth”, including the launch of a loyalty programme.
  For the year ending 1 September, the online fashion giant posted a pre-tax loss of £379.3m, down from a loss of £296.7m the previous year, as sales plunged by 18% to £2.9bn.
  Despite the loss, Asos CEO José Antonio Ramos Calamonte said: “We have already seen the g
  
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• Sosandar signs licensing agreement with Next for homewares range

  05-11-2024 08:22 via theretailbulletin.com
  
  Women’s fashion retailer Sosandar has signed a licensing agreement with Next for the development of a Sosandar homewares range. The news follows the success of the... View Article
  
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• Mango continues US expansion with new store opening in Washington DC

  05-11-2024 07:16 via theretailbulletin.com
  
  Mango has strengthened its presence in the US with the opening of a new store in the city of Washington DC. The move follows the launch... View Article
  
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• Landsec submits plans to transform Lewisham Shopping Centre

  05-11-2024 06:43 via theretailbulletin.com
  
  Landsec has submitted a hybrid planning application to transform Lewisham’s 1970s shopping centre and to add residential spaces to the scheme. The company said the plans... View Article
  
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• Dalton Park hails strong uplift in sales

  05-11-2024 06:42 via theretailbulletin.com
  
  Dalton Park Outlet, the largest outlet shopping destination in the North-East, has reported a significant increase in sales. In the year to date, the scheme’s total... View Article
  
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• UK retail sales growth slumps as shoppers wait for Black Friday deals

  05-11-2024 01:01
  
  Later October half-term break and budget uncertainty also led to lower spending, says industryGrowth in UK retail sales slumped in October, according to industry figures that suggest shoppers have put off spending in anticipation of Black Friday promotions and because of a later school half-term break.Figures from the British Retail Consortium (BRC) show total sales grew by 0.6% year on year in October, significantly weaker than September’s and less than half the three-month average growth
  
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