Retail news

• Temu owner PDD misses sales estimates amid China slowdown

  21-11-2024 16:38
  
  Shares drop after tech group warns on ‘intensified competition’
  
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• How to Create a Successful Ecommerce Retail Strategy

  21-11-2024 14:48 via theretailbulletin.com
  
  Since the COVID-19 pandemic, when almost everyone started buying things online, e-commerce has grown tremendously. Retailers are currently vying for the customer loyalty of digital-first consumers,... View Article
  
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• JD Sports shares slump 14% after profit warning

  21-11-2024 14:45
  
  Lower sales in UK and North America after mild weather and discounting by rivals offset by 3.5% rise in EuropeBusiness live – latest updatesMild weather and discounting by rivals hit sales at JD Sports in October, as the trainers and fashion retailer said profits will be at the lower end of expectations.The gloomy update sparked a sell-off among investors, sending shares down 14% and wiping about £800m off the value of the FTSE 100 company, which owns the JD chain as well as outdoor
  
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• Currys rolls out digital upgrades to all stores

  21-11-2024 13:59 via retailgazette.co.uk
  
  Currys is introducing electronic shelf edge labelling to all its shops as part of its store upgrade programme.
  The new system will arrive in 100 of the retailer’s stores across the UK and Ireland by the end of the financial year, with 60 stores making the switch ahead of the key festive period.
  The digital labelling will be managed by a centralised system and will improve the pricing accuracy and availability in stores.
  Currys has also introduced a digital queuing system to its 298 store p
  
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• Iceland boss ‘happy’ to use facial recognition to curb shoplifting

  21-11-2024 13:27 via retailgazette.co.uk
  
  Iceland boss Richard Walker has said he would “happily” trial facial recognition technology in stores to tackle the rise in retail crime and protect shop workers.
  The supermarket chair wrote on LinkedIn: “Whilst we don’t yet use it, I will happily trial and use legal, proportionate facial recognition technology as an effective response to the very real threat my colleagues face.”
  Walker also advocated that security guards should receive more legal powers.
  He added:
  
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• JD Sports drops to 2-year low after weather and US election hurt demand

  21-11-2024 12:39
  
  UK sportswear retailer says profit will be at lower end of guidance due to ‘much softer’ market
  
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• Lidl boss pledges to maintain ‘market leading prices’ despite ‘tens of millions’ added to NI bill

  21-11-2024 11:57 via retailgazette.co.uk
  
  Lidl GB boss Ryan McDonnell has promised that the discounter will “maintain market-leading pricing” despite the “greater inflationary pressures” from increases to employers’ National Insurance contributions.
  The chief executive told PA News that the German discounter faces “tens of millions of pounds” in additional costs following the announcements made Chancellor Rachel Reeves in her first Budget last month.
  Employers’ National Insurance contribut
  
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• HMV pauses store openings and warns of job cuts following national insurance spike

  21-11-2024 11:55 via retailgazette.co.uk
  
  HMV has suspended its new store openings across the UK as it claims the upcoming tax rises has made it too risky to invest.
  Owner Doug Putman told The Telegraph he does not see the music chain opening any new shops in 2025 after previously targeting between five and 10 each year.
  He blames the move solely on the Budget and claims the country will be missing out on as much as £5m annual investment.
  Putman, who rescued the chain in 2019, said: “We would love to continue to open stores,
  
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• John Lewis boss slams Budget as ‘two-handed grab’

  21-11-2024 11:30 via retailgazette.co.uk
  
  John Lewis Partnership boss Nish Kankiwala has blasted the government for making a “two-handed grab” from businesses following its decision to increase employers’ national insurance contributions and delay business rates reform.
  The chief executive told The Financial Times that the John Lewis and Waitrose owner, which swung to profit last year, faces “tens of millions” in additional costs from next year.
  Kankiwala said the Partnership was shocked by the measures ann
  
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• Mike Ashley’s Frasers Group escalates row with Boohoo

  21-11-2024 11:21
  
  Executive shake-up at fashion retailer fails to quell disagreement
  
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• Superdry warns of sales slump after stock exchange exit

  21-11-2024 10:01 via retailgazette.co.uk
  
  Struggling fashion firm Superdry has warned its sales will continue to drop in its current financial year, after exiting the London Stock Exchange in July to begin work on its restructuring plan.
  The retailer’s latest annual results for the year to 27 April showed pre-tax losses improved slightly, dropping from £78.5m to £65.2m.
  While sales plunged from £622.5m the year prior to £488.6m, the brand warned it expected sales to sit between just £350m and £4
  
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• JD Sports profits to fall at lower end of guidance after ‘volatile’ October trading

  21-11-2024 09:44 via retailgazette.co.uk
  
  JD Sports saw sales drop in its third quarter results, as the brand faced “increased trading volatility” in October as it said full-year profit will now come in at the lower end of its £955m to £1.035bn guidance.
  Group revenues dipped  0.3% for the 13 weeks to 2 November, while UK sales were down 2.4%.
  JD said while it experienced a “strong back-to-school period,” it saw softer consumer demand and trading toward the end of the period, reflecting “el
  
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• Frasers Group demands Boohoo chair Kamani be replaced by Mike Ashley

  21-11-2024 09:19 via retailgazette.co.uk
  
  Frasers Group has published an open letter to Boohoo shareholders claiming that executive chairman Mahmud Kamani “must go” and be replaced by Mike Ashley.
  The retail group wrote “a simple choice: win with Mike Ashley or lose with Mahmud Kamani” as it stepped up its boardroom battle with Boohoo.
  It urged Boohoo shareholders to vote to appoint Ashley and restructuring expert Mike Lennon as directors of the company at its shareholder meeting on 20 December.
  Frasers cited &ld
  
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• JD Sports expects full year profit to be at lower end of guidance

  21-11-2024 09:16 via theretailbulletin.com
  
  JD Sports has said its full year profit is likely to be at the lower end of expectations after trading was hit by a volatile environment... View Article
  
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• Naturally Tiwa Skincare spreads “Pup Joy” this Christmas with PAW Patrol

  21-11-2024 09:15 via theretailbulletin.com
  
  Naturally Tiwa Skincare is spreading “Pup Joy” across the UK this festive season in a partnership with animated series PAW Patrol. With a mission to let... View Article
  
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• Boohoo appoints Tim Morris as independent chair

  21-11-2024 09:14 via theretailbulletin.com
  
  Boohoo has announced that Tim Morris has been appointed as its independent chair with immediate effect. The news follows a series of steps taken to strengthen the... View Article
  
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• American Golf to open concession in Go Outdoors’ Coventry store

  21-11-2024 09:11 via theretailbulletin.com
  
  American Golf is continuing its partnership with Go Outdoors with the launch of a new 2,300 square foot concession in Go Outdoors’ Coventry store on 25... View Article
  
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• Ted Baker wholesale to be managed by Pace Partnership London in UK and Europe

  21-11-2024 09:02 via theretailbulletin.com
  
  Pace Partnership London (PPL) has been appointed by New Lobster to manage Ted Baker’s wholesale business, including sales and marketing functions for the UK and Europe,... View Article
  
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• Former Barbour MD to lead Ted Baker wholesale business in 5-year deal

  21-11-2024 09:00 via retailgazette.co.uk
  
  Ted Baker’s wholesale business in the UK and Europe is set to be managed by Pace Partnership London (PPL), under the helm of former Barbour MD Ryan Llewellyn-Pace.
  In a five-year agreement agreed by New Lobster, owned by PDS Group which last year signed a long-term strategic partnership with Authentic to establish Ted Baker Design Group, PPL will take on the management of the fashion retailer’s wholesale operations, including sales and marketing, across Europe.
  New Lobster will
  
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• Interview: Nobody’s Child – the M&S-backed retailer gunning for growth

  21-11-2024 08:00 via retailgazette.co.uk
  
  Nobody’s Child is grabbing attention. The brand, in which M&S holds a 27% stake, has a growing presence on the high street, through not only its 60 M&S pop-ups but its three own stores.
  It also took home Retail Gazette’s Fashion Game Changer award last month.
  The retailer, which will turn 10 next year, is bringing eco-conscious fashion to the masses and is now sold in 200 stores worldwide, having doubled its bricks-and-mortar presence year on year.
  “We’ve got incr
  
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• M&S reopens Brixton store after seven-month transformation

  21-11-2024 07:58 via theretailbulletin.com
  
  M&S has reopened its store in London’s Brixton following a seven-month transformation. In addition to selling food and groceries, the store on Brixton Road features a... View Article
  
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• WH Smith launches first own-brand Christmas sandwich range

  21-11-2024 07:48 via theretailbulletin.com
  
  WH Smith has launched its first own-brand range of Christmas sandwiches into 300 travel stores in the UK. Part of the retailer’s own-brand Smith’s Family Kitchen... View Article
  
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• John Lewis chief criticises UK Budget as ‘two-handed grab’ from business

  21-11-2024 06:00
  
  Nish Kankiwala is latest retail head to warn of additional costs for retailers and higher prices for consumers
  
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