Retail news

• Cost increases for shops and pubs are real and large. Pity the small operators | Nils Pratley

  06-11-2024 19:50
  
  M&S will pay an extra £60m in employer’s national insurance next year, but it can cope. Smaller firms may notM&S profits rise but retailer warns of £60m hit from Reeves’s budgetWednesday’s number of the day in the UK corporate scene was £60m. It is what Marks & Spencer expects to pay extra in employers’ national insurance next year, with the “same again”, said Stuart Machin, the chief executive, from wage increases that were alrea
  
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• M&S profits rise but retailer warns of £60m hit from Reeves’s budget

  06-11-2024 17:46
  
  Concerns over increase in national insurance contributions and minimum wage on customers and suppliersMarks & Spencer has reported a better than expected jump in profits but warned that measures in last week’s budget could cost the company more than £60m next year.The British retail chain’s pre-tax profits hit £408m for the six months to October, up 17% on the same period last year, bolstered by sales rising 8.1% for food and 4.7% for clothing and homeware. Continue r
  
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• M&S eyes cost-savings to cover £60m hit to National Insurance bill

  06-11-2024 17:02 via retailgazette.co.uk
  
  M&S is searching for new cost-saving measures to pay the extra £60m piled upon its National Insurance bill following changes introduced in last week’s Budget.
  CEO Stuart Machin said the business plans to manage this new expense through finding savings rather than raising prices for consumers.
  “We don’t want to pass on these costs to our customers. We want to maintain where we are,” he stressed.
  Machin explained that while M&S had anticipated some impact from
  
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• Pandora profit rises as personalisation drives growth

  06-11-2024 16:36 via retailgazette.co.uk
  
  Pandora saw an uplift in profit during its third quarter as its move to change its perception into a full jewellery brand paid off.
  EBIT rose 6.8% to £110m while sales were up 9.5% to £682m.
  The jewellery giant, which hired a new UK boss in March, noted personalisation services were driving incremental growth, with engraving services in particular growing 100% during the quarter. Related StoryM&S profits soar as it sees ‘strongest value perception’ in a decade06/11/20
  
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• Frasers blasts ‘desperate’ Boohoo and demands approval on brand break up

  06-11-2024 14:04 via retailgazette.co.uk
  
  Frasers Group has written another open letter to Boohoo demanding shareholders get approval before the group sells any of its assets and that it hire independent advisers to ensure fair terms, as it claims: “Desperate people do desperate things.”
  The Mike Ashley controlled group, which owns 27% of Boohoo, accused the retailer having an “utter disregard for shareholder views”. It said: “Boohoo and its shareholders deserve better.”
  The letter reads: “The d
  
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• M&S profits jump but Reeves’s budget ‘could cost it £120m in 2025’

  06-11-2024 13:41
  Impact of increase in NICs and minimum wage on customers and suppliers uncertain, says bossMarks & Spencer has reported a better than expected jump in profits but warned that measures in last week’s budget could cost the company £120m next year.The British retail chain’s pre-tax profits hit £407.8m for the six months up to October, up 17% on the same period last year, bolstered by sales rising 8.1% for food and 4.7% for clothing and homeware. Continue reading...
  
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• M&S profits jump but Reeves’ budget ‘could cost it £120m in 2025’

  06-11-2024 13:41
  
  Impact of increase in NICs and minimum wage on customers and suppliers uncertain, says bossMarks & Spencer has reported a better than expected jump in profits but warned that measures in last week’s budget could cost the company £120m next year.The British retail chain’s pre-tax profits hit £407.8m for the six months up to October, up 17% on the same period last year, bolstered by sales rising 8.1% for food and 4.7% for clothing and homeware. Continue reading...
  
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• Watch: All of retail’s Christmas 2024 ads, from Sainsbury’s to Amazon

  06-11-2024 13:39 via retailgazette.co.uk
  
  Retailers’ Christmas adverts have already begun appearing across our TV screens as the festive season fast approaches.
  With celeb guests ranging from Dawn French and Nigella Lawson to beloved Roald Dahl character the BFG, there’s truly something for everyone in this year’s Christmas campaigns.
  Retail Gazette takes a look at the Christmas adverts released so far. Let us know your favourite in the comments section.
  M&S Food
  The M&S Food Christmas campaign sees Dawn French
  
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• Primark owner warns NI rise will increase costs by ‘tens of millions’

  06-11-2024 12:34 via retailgazette.co.uk
  
  The boss of Primark is preparing for a significant jump in business costs following the Chancellor’s decision to introduce a rise in national insurance employer contributions.
  George Weston, CEO of Primark owner Associated British Foods, warned the rises will weigh heavily on the British high street and increase its own bill by “tens of millions”, The Times reported.
  Weston said the change in threshold would “impact high street city centre businesses more than many others
  
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• Next launches The Cotswold Company online

  06-11-2024 12:32 via retailgazette.co.uk
  
  Next has partnered with The Cotswold Company to launch the homeware brand’s ranges online.
  The high street giant is currently selling a selection of Cotswold’s bedroom, dining and living room furniture.
  The Cotswold Company said this will be expanded to include its premium accessories in the new year and that online orders will be fulfilled by the brand.
  It forms part of the homeware retailer’s omnichannel strategy as it looks to expand its online presence and offline footprint
  
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• M&S warns it ‘can’t rule out’ price rises after Budget hit to tax bill

  06-11-2024 11:10 via ft.com
  Retailer’s profits beat expectations in first half of financial year following strong food sales
  
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• Watch: Boots enlists Bridgerton star for Christmas campaign

  06-11-2024 10:24 via retailgazette.co.uk
  
  Boots is celebrating the magic of beauty in its new festive ‘The Christmas Makeover’ campaign, starring Bridgerton actress Adjoa Andoh, as it prepares for a bumper golden quarter.
  The ad follows Andoh, who plays Mrs Claus, as she leads a trusty squad of beauty elves.
  Set to an instrumental of Eve’s Who’s that Girl?, she applies a swipe of No7 lipstick with an epic outfit change as she takes charge of festive gifting preparations while Santa Claus sleeps in front of the fi
  
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• Asda demands 3 day return to office and reveals job cuts

  06-11-2024 09:54 via retailgazette.co.uk
  
  Asda has asked staff to return to the office a minimum of three days per week and had made job cuts in head office.
  The supermarket revealed the news in an internal email yesterday (5 November), with the changes impacting over 5,000 office staff members across three areas in Leeds and Leicester, effective from January.
  In a message to staff, Lord Rose explained the grocery giant was making office attendance compulsory at the George House site in Leicester and Asda House and Britannia House offic
  
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• Roll up, roll up: registration opens for Retail Technology Show 2025, bringing the carnival of retail to ExCeL London

  06-11-2024 09:37 via theretailbulletin.com
  
  Registration for the Retail Technology Show (RTS), the leading event that connects Europe’s most forward-thinking retailers and leading tech innovators, is now open. Debuting in its... View Article
  
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• Morleys poaches former House of Fraser exec as new CEO

  06-11-2024 09:13 via retailgazette.co.uk
  
  Morleys department stores has named former House of Fraser exec Allan Winstanley as its new CEO, taking over from Nigel Blow.
  The new boss, who is due to take up his role in January, returns to the UK after working with Myer department stores in Australia as its chief merchandise officer.
  Prior to this, he served as president of Sears and Kmart apparel in the US, chief merchandise officer of De Bijenkorf (Selfridges Group) in the Netherlands, and House of Fraser executive director of women&rsquo
  
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• Morleys hires former House of Fraser exec as new CEO

  06-11-2024 09:13 via retailgazette.co.uk
  
  Morleys department stores has named former House of Fraser exec Allan Winstanley as its new CEO, taking over from Nigel Blow.
  The new boss, who is due to take up his role in January, returns to the UK after working with Myer department stores in Australia as its chief merchandise officer.
  Prior to this, he served as president of Sears and Kmart apparel in the US, chief merchandise officer of Selfridges Dutch department store business De Bijenkorf. Related StoryBoohoo shuns Mike Ashley and names
  
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• M&S profits soar as it sees ‘strongest value perception’ in a decade

  06-11-2024 09:09 via retailgazette.co.uk
  
  M&S half-year profits surged as clothing and food sales continued to soar, delivering their fourth consecutive year of market share growth.
  Profit before tax and adjusting items was up more than 17% at the retail giant for the half ended 28 September, hitting £407.8m.
  Sales climbed 5.8% to £6.52bn. Food revenue jumped 8.1% and adjusted operating profit in the division rose more than a third (34.5%) to £213.1m as it witnessed its “strongest value perception in over a d
  
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• Just launched: The Deskless Report 2024

  06-11-2024 08:17 via retailgazette.co.uk
  
  Frontline challenges have evolved—here’s how to keep up
  When we last examined the state of the frontline two years ago, our findings showed a frontline stretched thin, balancing burnout, uncertainty and reactive decisions in the aftermath of the pandemic. Fast forward to 2024, and while some challenges have eased, others persist, reshaping the realities of frontline work.
  Our new Deskless Report 2024 dives into this evolution, sharing fresh insights from five industries: retail, groc
  
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• Barking up the right tree: Jollyes CEO’s plans to ‘attack the pets market’

  06-11-2024 08:00 via retailgazette.co.uk
  
  Jollyes boss Joe Wykes has big plans for the pet retailer and, following its buyout by Asda’s private equity owner TDR Capital earlier this year, is vying to transform it into the “best value pets superstore” in the UK.
  Wykes, who has led the business for two years, says: “We’re gearing ourselves up for our next phase of growth where we really, really want to attack the market in a big way.”
  On his sizeable list of priorities is growing Jollyes’ store es
  
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• Waitrose keeps the nation guessing with two-part ‘whodunnit’ Christmas ad

  06-11-2024 06:33 via theretailbulletin.com
  
  Waitrose has unveiled the first instalment of its Christmas advert – Sweet Suspicion, A Waitrose Mystery – as part of  its festive campaign. Featuring an all-star cast,... View Article
  
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• Aesop to open first store in the north of England

  06-11-2024 06:02 via theretailbulletin.com
  
  The Aesop luxury skin care brand is to open its first store in the north of England at Victoria Leeds. Situated in County Arcade, the 753... View Article
  
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• Morleys appoints Allan Winstanley as chief executive

  06-11-2024 05:39 via theretailbulletin.com
  
  The Morleys chain of department stores has appointed Allan Winstanley as its new chief executive. Due to take up his role in January 2025, he will... View Article
  
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• Aldi to open 11 stores before Christmas

  06-11-2024 01:01 via retailgazette.co.uk
  
  Aldi is planning to open 11 new stores across the UK between now and Christmas as it continues its expansion across the UK.
  The discounter will open new stores in Sedgley in the West Midlands and Castle Douglas in Scotland this week, followed by Horsham in West Sussex and Muswell Hill in London later this month.
  New locations in Totton, Hampshire, Cribbs Causeway, Bristol and Pwllheli in Gwynedd are scheduled to open before Christmas.
  Aldi is also refurbing more than 15 stores between now and Ch
  
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