Retail news

• M&S Oxford Street redevelopment approved after years of dispute

  05-12-2024 18:50 via theretailbulletin.com
  
  Deputy Prime Minister Angela Rayner has granted approval for Marks & Spencer to demolish and rebuild its flagship Marble Arch store on Oxford Street, concluding a... View Article
  
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• M&S given green light by Angela Rayner to demolish Oxford Street store

  05-12-2024 18:48
  
  Approval for Marks & Spencer to rebuild flagship London store ends three-year planning battle over art deco buildingMarks & Spencer has been given the green light to demolish its flagship Oxford Street store, ending a fierce three-year planning battle over the art deco building.The housing secretary, Angela Rayner, ruled on Thursday that the plans could go ahead. Continue reading...
  
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• M&S wins approval to demolish and redevelop flagship Oxford Street store

  05-12-2024 18:17
  Permission from housing secretary to knock down art deco building in central London caps lengthy battle by retailer
  
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• M&S Marble Arch store demolition plan gets green light

  05-12-2024 17:22 via retailgazette.co.uk
  
  M&S has been granted approval by the Secretary of State for Housing, Communities, and Local Government to redevelop its flagship Marble Arch store, after almost four years of delays and legal battles.
  The approval allows the high street giant to move forward with plans to demolish the three buildings it occupies and replace them with a 10-storey mixed-use development, including a new flagship store and office space.The project includes a smaller M&S store, offices, a pedestrian arcade, a
  
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• M&S Marble Arch demolition plan gets green light

  05-12-2024 17:22 via retailgazette.co.uk
  
  M&S has been granted approval by the Secretary of State for Housing, Communities, and Local Government to redevelop its flagship Marble Arch store, after almost four years of delays and legal battles.
  The approval allows the high street giant to move forward with plans to demolish the three buildings it occupies and replace them with a 10-storey mixed-use development, including a new flagship store and office space.The project includes a smaller M&S store, offices, a pedestrian arcade, a
  
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• Morrisons CEO urges government to stagger ‘avalanche’ of Budget costs

  05-12-2024 16:34 via retailgazette.co.uk
  
  Morrisons CEO Rami Baitieh has called on Labour to stagger its “avalanche” of Budget business costs
  Speaking to The Sun, the grocery boss urged the government to consider the combined costs retailers faced, amid warnings they would lead to fewer staff members and increased prices.
  The costs include business rate rises, National Insurance changes, the minimum wage rise and packaging levy.
  The supermarket CEO said: “The National Insurance change adds insult to injury. The problem
  
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• Lalage Beaumont opens new Lowndes Street boutique in Belgravia

  05-12-2024 14:24 via theretailbulletin.com
  
  Luxury British Designer Opens Third London Boutique in Time for Christmas Luxury British designer brand Lalage Beaumont proudly announces the opening of its new London boutique... View Article
  
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• Santa-approved Mince Pies free in Liverpool’s Christmas giveaway

  05-12-2024 14:15 via theretailbulletin.com
  
  Thousands of mince pies are being handed out for free today in Liverpool, thanks to a first-of-its-kind mince pie vending machine. The world’s first mince pie... View Article
  
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• Frasers Group and B&M booted from the FTSE 100

  05-12-2024 13:49 via retailgazette.co.uk
  
  Frasers Group and B&M have dropped off the UK’s FTSE 100 in the latest reshuffle of the London Stock Exchange
  The update resulted in three companies being demoted from the prestigious index, making way for new entrants.
  Among the notable changes, board game maker Games Workshop Group has been promoted to the FTSE 100, while Frasers Group and B&M have been relegated to the FTSE 250. Meanwhile, Deliveroo has secured a spot in the FTSE 250 as part of the revised rankings.
  In Nove
  
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• VIEVE Pop-Up store now open at Buchanan Galleries

  05-12-2024 13:39 via theretailbulletin.com
  
  [Updated] Following a teaser on social media, VIEVE, the award-winning cult makeup brand, has officially opened its highly anticipated pop-up store at Glasgow’s Buchanan Galleries. Experience... View Article
  
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• CEO of Mike Ashley’s Frasers Group says budget felt like being ‘kicked in the face’

  05-12-2024 13:21
  
  Sports Direct owner reports weaker consumer confidence before and after the budget as it cuts profit expectationsThe chief executive of the high street retail giant Frasers said that “we felt we’d been kicked in the face” after Rachel Reeves’ autumn budget.Frasers said it had witnessed weaker confidence among shoppers leading up to and since the budget, as the company reduced its profit forecasts for the year. Continue reading...
  
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• Frasers CFO: Budget has ‘spooked’ consumer confidence

  05-12-2024 13:10 via retailgazette.co.uk
  
  Frasers Group has warned the Budget has “spooked” consumer confidence as it prepares for its tax bill to rise £50m next year from changes to employers’ National Insurance contributions.
  The retail giant’s CFO Chris Wootton noted that consumer sentiment has “definitely weakened pre- and post-Budget”.
  “It’s obvious to anyone on the high street that the Budget has really spooked people, and frankly, the 24/7 bad news stories around it have sort
  
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• Manhattan named a leader in point-of-service and order management analyst evaluations

  05-12-2024 13:08 via theretailbulletin.com
  
  Manhattan Associates Inc. (NASDAQ: MANH) today announced that it has been named a Leader in The Forrester Wave™: Point-of-Service (POS) Solutions, Q4 2024 report. Of the... View Article
  
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• Aldi and Lidl launch new stores ahead of Christmas in latest expansion drive

  05-12-2024 13:08 via retailgazette.co.uk
  
  Aldi and Lidl are pushing ahead with a series of store openings ahead of Christmas, as part of their wider expansion plans.
  Aldi is opening four stores today (5 December) as part of its UK expansion drive, across Cribbs Causeway in Bristol, Hetton-le-Hole in Tyne and Wear, Ashton-in-Makerfield in Greater Manchester, and Macduff in Banffshire.
  The new shops, which will create over 100 new jobs, follow a series of store launches in recent weeks, including new locations in Sedgley in the West Midla
  
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• Yodel urges customers to turn to rivals amid Christmas capacity crisis

  05-12-2024 12:23 via retailgazette.co.uk
  
  Yodel has been hit with capacity issues ahead of the Christmas trading period, with the firm urging customers to switch to rival delivery couriers.
  The delivery firm, which was set to hire thousands of seasonal staff members to help it manage the period from Black Friday until Christmas, has told clients including Gousto, eBay and New Look that it has been impacted by a host of operational challenges, Sky News reported.
  In a memo sent to shoppers this week, the courier, which was saved by a Shif
  
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• Boohoo v Frasers: What’s next in the fashion giant’s boardroom battle with Mike Ashley?

  05-12-2024 12:12 via retailgazette.co.uk
  
  Frasers Group ramped up its campaign against Boohoo’s senior management at the end of last month, claiming that founder and executive chairman Mahmud Kamani “must go”.
  The retail giant – which holds 27% of Boohoo – demanded that Mike Ashley takeover as chair, alongside restructuring expert Mike Lennon as director, to turnaround the loss-making fashion group and put an end to what it described as “dismal results, lack of transparency, terrible refinancing, and
  
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• Lidl unveils six new stores

  05-12-2024 11:46 via theretailbulletin.com
  
  Lidl has opened six new state-of-the-art stores today as it looks ahead to the Christmas rush. While four shops have launched in the new locations of... View Article
  
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• Desert Island Stores: Charlotte Morley, founder of The Little Loop

  05-12-2024 11:40 via theretailbulletin.com
  
  Here we chat to Charlotte Morley, founder of The Little Loop – a circular clothing platform for new and second-hand products focused on the childrenswear market.... View Article
  
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• Mike Ashley’s Frasers Group reports 10% profit drop and warns of £50m budget hit

  05-12-2024 10:11
  
  Sports Direct owner says it has seen ‘weaker consumer confidence’ before and after the budget as it cuts profit expectationsThe high street retail giant Frasers said it had witnessed “weaker” confidence among shoppers leading up to and since the autumn budget, as the company reduced its profit forecasts for the year.It came as the Mike Ashley-founded firm revealed a slump in sales for the past half-year and lower profits. Continue reading...
  
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• The Range owner poaches Amazon director as new chief supply chain officer

  05-12-2024 09:57 via retailgazette.co.uk
  The Range, Wilko and Homebase owner CDS Superstores has poached Amazon director Sam Davies to the newly created role of chief supply chain officer.
  Davies, who joined the business this week, has spent the last decade in the ecommerce giant’s supply chain department and was promoted to director of operations in 2021.
  CDS said his appointment follows recent external leadership appointments in store operations, property and digital “to drive transformational plans and the businesses nex
  
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• Frasers Group lowers full year profit guidance

  05-12-2024 09:49 via theretailbulletin.com
  
  Frasers Group has lowered its profit guidance, citing the impact of the budget, tougher trading conditions and weakened consumer confidence. The owner of Sports Direct and... View Article
  
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• Very Group owners took out £100m as bankers chased overdue debt

  05-12-2024 09:43 via retailgazette.co.uk
  Very Group owners the Barclay family took out more than £100m of dividends from the business in the lead up to its bankers calling in long-overdue debts.
  The family extracted £107.7m of the holding company for the online shopping retailer in 2022 as Lloyds Banking Group chased to receive payment for £1.2bn in unpaid loans the following year, The Telegraph reported.
  The windfall consisted of three individual payments including £40m of dividends, £38.8m of “dist
  
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• Mike Ashley’s Frasers blames ‘damaging’ Budget for profit warning

  05-12-2024 09:34
  Shares in UK retailer drop as it says consumer confidence has weakened and posts falling profits
  
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• Watches of Switzerland profits fall despite strong US demand

  05-12-2024 09:22 via retailgazette.co.uk
  
  Watches of Switzerland reported a 4% year-on-year rise in group revenue to £785m in its first half, driven by strong growth in the US market.
  However, the luxury watch retailer’s adjusted EBIT dropped 9% to £66m in the 26 weeks to October 27, due to acquisition-related costs and integration efforts. Statutory profit before tax also fell 39%, reaching £41m.
  Group revenue during the period increased 4% on a constant currency basis, driven by improved demand during its secon
  
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• Police investigate stalking claims from Boohoo

  05-12-2024 09:14 via retailgazette.co.uk
  
  Police are investigating claims of stalking and “corporate espionage” made by several Boohoo Group executives.
  Police forces in Manchester and Kent are looking into reports of stalking offences understood to be aimed at Boohoo group CEO Dan Finley, former boss John Lyttle and co-founder Mahmud Kamani, The Times reported.
  The identity of the alleged perpetrators and any person or organisation who may have commissioned them is unknown. No arrests have been made.
  The three current and f
  
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• Card Factory makes strategic acquisition in the US

  05-12-2024 09:01 via theretailbulletin.com
  
  Card Factory has acquired Garven Holdings, a US company specialising in the design and wholesale of gifts and celebration essentials, for $25 million. Marking the greeting... View Article
  
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• Card Factory secures foothold into US with new £20m acquisition

  05-12-2024 08:57 via retailgazette.co.uk
  
  Card Factory has entered the US market with the acquisition of Minnesota-based Garven Holdings in a $25m (£20m) deal.
  The move marks a major milestone in the UK retailer’s international growth ambitions, providing a foothold in the £70bn US celebration market and accelerating its “partnerships strategy in one of our key international target markets.”
  Garven, which trades under the brands Garven Design and Cadence Packaging, specialises in the design and wholesale of
  
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• Card Factory secures foothold into US with £20m Garven Holdings acquisition

  05-12-2024 08:57 via retailgazette.co.uk
  
  Card Factory is set to enter the US market with the acquisition of Minnesota-based Garven Holdings in a $25m (£20m) deal.
  The move marks a major milestone in the UK retailer’s international growth ambitions, providing a foothold in the £70bn US celebration market and accelerating its “partnerships strategy in one of our key international target markets.”
  Garven, which trades under the brands Garven Design and Cadence Packaging, specialises in the design and wholesal
  
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• Frasers lowers profit outlook as sales slide

  05-12-2024 08:48 via retailgazette.co.uk
  
  Frasers Group has lowered its profit outlook for the year after sales plunged 8% amid growing consumer uncertainty.
  The retail giant reported its pre-tax profit had dropped 33% to £207.2m in the 26 weeks ended 27 October, down from £310.2m the year before, due to a decrease in foreign exchange and the material decline in the Hugo Boss share price. On an adjusted basis, it slipped 1.5% to £299.2m.
  Group sales fell to £2.54bn, dragged down by a 20% drop in financial service
  
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• Asda secures £155m loan to tackle looming debts

  05-12-2024 08:40 via retailgazette.co.uk
  
  Asda has borrowed another £155m through a private loan to pay off looming debts.
  The embattled supermarket said its lenders had agreed to a £155m top-up of funds on an existing loan, which is due for repayment 2031, to help pay off more pressing debts falling due over the next 24 months.
  Along with £155m of cash from its balance sheet, Asda will use the proceeds of the loan to pay off £310m of debt maturing in 2025 and 2026.
  It is understood this decision has reduced fina
  
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• Victoria Leeds celebrates record footfall and new openings

  05-12-2024 08:19 via theretailbulletin.com
  
  Victoria Leeds is celebrating what is expected to be its most successful year for footfall in its eight-year history. The number of visits to Victoria Gate... View Article
  
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• Debenhams swings to full year profit

  05-12-2024 07:31 via theretailbulletin.com
  
  Debenhams has reported a pre-tax profit of £4.5 million for the year to 29 February compared to a loss of £723,00 in the prior 12-month period.... View Article
  
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