Retail news

• Kroger-Albertsons $25bn grocery merger blocked by US judge

  10-12-2024 22:46
  
  Country’s two biggest supermarket operators suffer a potentially fatal blow in their efforts to consolidate
  
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• Walgreens in talks over sale to private equity group Sycamore

  10-12-2024 22:32
  Potential deal highlights mounting distress facing the retail pharmacy industry
  
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• US judge blocks $25bn Kroger-Albertsons grocery merger

  10-12-2024 21:42
  
  Deal challenged by Federal Trade Commission would consolidate two of the country’s biggest supermarket operators
  
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• Who’s the most basic person on the internet? A court will have to decide between these two beige influencers | Arwa Mahdawi

  10-12-2024 18:39
  Sydney Nicole Gifford has accused rival Alyssa Sheil of copying her bland style, in a $150,000 lawsuit over lost income and ‘mental anguish’. What’s behind this race to the bottom?
  Sydney Nicole Gifford, a 24-year-old lifestyle influencer, was busy being her most authentic self when her carefully curated world suddenly shattered. One of her followers had contacted her with terrible news: someone had stolen her vibe.What does this even mean? Well, that’s the question at pl
  
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• Harrods workers vote to strike in Christmas week over pay and perks

  10-12-2024 16:52
  
  Three days of action include Boxing Day sales but union says no option as management ‘refuses to engage’Harrods workers from cleaners to shop floor and restaurant staff are set to strike in Christmas week, including during the upmarket department store’s key Boxing Day sales, in a row over pay and perks.The United Voice of the World (UVW) independent union said 95% of its members at the Knightsbridge store had voted in favour of the strikes on 21, 22 and 26 December. Continue r
  
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• The Perfume Shop just opened a new store at Rushden Lakes Shopping Park

  10-12-2024 16:44 via theretailbulletin.com
  
  The Perfume Shop has just opened a new and improved experiential store at Rushden Lakes Shopping Park, Rushden. Opening in just a few days, the iconic... View Article
  
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• Boohoo Group CEO: Debenhams could outvalue entire group

  10-12-2024 16:38 via retailgazette.co.uk
  
  In a show of strength amid Boohoo’s ongoing boardroom spat with Mike Ashley’s Frasers Group, group CEO Dan Finley reaffirmed his confidence in the online fashion group, specifically Debenhams.
  In a message uploaded onto the Boohooforall website, Finley said: “I believe Debenhams alone, with the progress we’ve made and the opportunities that lie ahead, has a greater value than the entire market cap of our group today (£500m+)”.
  Discussing how the business is fa
  
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• Wellbeing concerns surge among younger and LGBTQ+ retail workers

  10-12-2024 16:06 via theretailbulletin.com
  
  Over two in five UK retail employees (43%) were at risk of quitting their jobs between July and September this year, an 11% increase from the... View Article
  
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• Boohoo ‘not deliberately seeking confrontation’ amid Frasers clash

  10-12-2024 11:02 via retailgazette.co.uk
  
  Boohoo has said it is “not deliberately seeking confrontation” as it urged shareholders to vote against Frasers’ demands for Mike Ashley to be appointed as chair.
  The fashion giant wrote to shareholders to reiterate its stance that Frasers was acting in its “own commercial self-interest” and claimed the group’s recent campaign has been “designed to destabilise boohoo”.
  Boohoo said it was “not the first time” that the Sports Direct owner
  
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• Cost of average UK Christmas dinner up 6.5% as veg prices soar

  10-12-2024 11:00
  Shoppers will pay £32.57 for festive meal for four as potato and carrot prices leap, says KantarBusiness live – latest updatesThe cost of an average Christmas dinner has surged 6.5% on last year, pushed up by hefty price rises on potatoes, cauliflower, carrots and parsnips.UK shoppers will pay £32.57 for a festive meal for four, according to retail analysts at Kantar, spurred by a 16.3% jump in potato prices and a near 15% rise in the cost of carrots. Continue reading...
  
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• M&S Chairman, Archie Norman, is confirmed to headline at the Retail Technology Show 2025

  10-12-2024 10:36 via theretailbulletin.com
  
  Chairman of Marks and Spencer (M&S), Archie Norman, is confirmed to headline at the 2025 Retail Technology Show (RTS), the leading event that connects Europe’s most... View Article
  
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• Harvey Nichols poaches Net-A-Porter buying director

  10-12-2024 10:36 via retailgazette.co.uk
  
  Harvey Nichols has named Net-A-Porter director Kate Benson as its new chief merchant, with immediate effect.
  Benson joins from YNAP, where she has spent the last seven years in its buying teams and most recently held the position of buying director.
  The department store chain said Benson has a “proven capability of designing and delivering on elevated product strategies” and has strong relationships with several luxury brands.
  Harvey Nichols chief executive Julia Goddard said: &ldquo
  
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• Harvey Nichols appoints Kate Benson as chief merchant

  10-12-2024 10:24 via theretailbulletin.com
  
  Harvey Nichols has appointed Kate Benson as chief merchant with immediate effect. Benson previously worked for seven years with YNAP where her most recent role was... View Article
  
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• Naked Wines narrows losses despite falling sales

  10-12-2024 10:17 via retailgazette.co.uk
  Naked Wines has said it is in “a better position, both financially and strategically” as it revealed it had shrunk its half-year losses despite weaker sales.
  The online wine merchant posted a pre-tax loss of £5.6m in the 26 weeks to 30 September, down from the £9.7m loss it reported last year, as it continued to make progress against its turnaround plan.
  Adjusted EBIT dropped £5.3m to a loss of £3.1m in the half, due to a £3.7m hit from inventory liquida
  
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• Pepco Group posts net loss for year to 30 September

  10-12-2024 09:52 via theretailbulletin.com
  
  Pepco Group has posted a 10.2% increase in full year revenue to a record €6.2 billion, although it posted a net loss due to an impairment... View Article
  
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• Dobbies to close 12 garden centres

  10-12-2024 09:13 via theretailbulletin.com
  
  Dobbies is to close 12 garden centres as part of a restructuring plan approved by the Court of Session in Scotland. The retailer said the move... View Article
  
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• Data: Supermarket sales to top £13bn this month for the first time

  10-12-2024 09:10 via retailgazette.co.uk
  
  UK supermarket sales are set to exceed £13bn for the first time over the four weeks of December driven by a surge in demand for premium product lines as shoppers gear up for Christmas, new data from Kantar reveals.
  Take-home sales increased by 2.5% for the four weeks to 1 December.
  Sales of premium own-label products in particular, saw a boost, with the proportion of spending on these items climbing to 5%, and expected to reach nearly 7% by the end of December.
  Kantar head of retail and co
  
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• Data: Supermarket sales to top £13bn this month for first time ever

  10-12-2024 09:10 via retailgazette.co.uk
  
  UK supermarket sales are set to exceed £13bn for the first time over the four weeks of December, driven by a surge in premium product lines as shoppers gear up for Christmas, new data from Kantar reveals.
  Take-home sales increased by 2.5% for the four weeks to 1 December, with festive shopping already in full swing.
  Sales of premium own-label products in particular, saw a boost, with the proportion of spending on these items climbing to 5%, and expected to reach nearly 7% by the end of Dec
  
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• Electronics sales showing no signs of slowing down as we enter 2025

  10-12-2024 09:00 via theretailbulletin.com
  
  As we move into 2025, the electronics industry continues to thrive, with no signs of slowing down despite economic challenges. Consumer demand for new and upgraded... View Article
  
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• Moonpig sees revenue growth amid innovation push

  10-12-2024 08:40 via retailgazette.co.uk
  
  Moonpig has posted a 3.8% increase in revenue for the first half of the year, reaching £158m, driven by strong sales at its Moonpig brand.
  Revenue grew 10.0% year-on-year, helping the online retailer maintain positive momentum despite ongoing challenges in its Experiences division.
  Adjusted EBITDA increased slightly to £41.8m, compared to £41.4m in H1 2024, with the adjusted EBITDA margin coming in at 26.5%. But Moonpig reported a loss before tax of £33.3m, a decline fro
  
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• Moonpig records revenue growth amid innovation push

  10-12-2024 08:40 via retailgazette.co.uk
  
  Moonpig has posted a 3.8% increase in revenue for the first half of the year, reaching £158m, driven by strong sales at its Moonpig brand.
  Revenue grew 10% year-on-year, helping the online retailer maintain positive momentum despite ongoing challenges in its experiences division.
  Adjusted EBITDA edged up to £41.8m from £41.4m the previous year, and adjusted EBITDA stood at 26.5%. But Moonpig reported a loss before tax of £33.3m, a decline from a profit of £18.9m a
  
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• Poundland struggles weigh on record year for Pepco Group

  10-12-2024 08:24 via retailgazette.co.uk
  
  Poundland owner Pepco Group has reported record revenue and underlying EBITDA for the year ending 30 September 2024. However, weak performance at Poundland, including a £675m impairment charge, overshadowed the discounter’s broader success.
  Poundland’s revenue grew just 0.3% year-on-year, with like-for-like sales falling by 3.6%. The UK discounter‘s EBITDA dropped 21.5% to £134m as it faced rising competition and challenges transitioning to Pepco-sourced products.
  T
  
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• Pepco takes £675m hit on Poundland in ‘challenging’ year

  10-12-2024 08:24 via retailgazette.co.uk
  
  Pepco Group has booked a £675m impairment charge on its UK subsidiary Poundland, driven by “a significant decline in performance in FY24 and weaker outlook for profitability amid increasing competition and cost challenges.”
  The charge, which primarily reflects the goodwill from the Poundland acquisition, follows 3.6% in like-for-like sales at the value retailer for the year ending 30 September 2024.
  Overall revenue at Poundland edged up 0.2% year-on-year while EBITDA declined 2
  
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• Abercrombie & Fitch to expand into India

  10-12-2024 07:48 via theretailbulletin.com
  
  Abercrombie & Fitch is to expand into India through a multi-year franchise partnership with Myntra Jabong, Myntra’s business-to-business wholesale entity. The agreement will include Myntra Jabong... View Article
  
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• Castore appoints chief commercial officer

  10-12-2024 07:30 via theretailbulletin.com
  
  Performance sportswear brand Castore has appointed Danny Downs as chef commercial officer. He previously worked with Fanatics for over 15 years, most recently as general manager,... View Article
  
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• Premium food, clothing and tech ‘will push UK Christmas spending to £22.7bn’

  10-12-2024 07:00
  
  Average spend on gifts and celebrations expected to rise 5% to £433 for each consumer, says PwCPremium food, clothing and technology purchases are expected to drive a 5% jump in festive spending to £22.7bn this year, according to figures that suggest UK consumers will outstrip the first post-pandemic Christmas in 2021.The average spending on gifts and celebrations is expected to rise from £416 to £433 for each person, the survey of 2,000 adults by the accountancy firm PwC
  
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