Retail news

• Macy’s cuts profit outlook after employee hid $150mn in expenses

  11-12-2024 21:03
  
  US department store chain says worker ‘falsified documentation’
  
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• Going private will not cure Walgreens’ ailments

  11-12-2024 19:11
  
  Across the US, pharmacies are fighting for survival, with prescription drug margins being squeezed
  
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• Hackers take a bite out of Krispy Kreme

  11-12-2024 18:02
  
  Cyber attack having ‘material impact’ on operations, company says in SEC filing
  
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• Two shareholder advisers side with Boohoo in Mike Ashley row

  11-12-2024 16:40
  Glass Lewis and Institutional Shareholder Services advise against giving retail tycoon board role
  
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• Harrods adding £1 ‘cover charge’ to every diner on top of 12.5% service fee

  11-12-2024 16:25
  
  Staff fear cover charge will prompt people to cancel paying optional service charge, hitting their incomeHarrods has introduced a £1 a diner “cover charge” in all its restaurants and cafes in London which staff say aims to bump up profits by up to £1m after a government crackdown on companies taking a cut of tips.The upmarket department store, whose owners took a £180m dividend last year, charges diners a 12.5% service charge – all of which has gone to workers
  
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• TikTok Shop’s LIVE Snow Globe Studios arrive at Winter Wonderland 2024

  11-12-2024 16:12 via theretailbulletin.com
  
  TikTok Shop is partnering with Hyde Park Winter Wonderland to host an unmissable two-day LIVE shopping showcase. Unique to TikTok Shop, LIVE shopping (shopping in real-time... View Article
  
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• Albertsons sues Kroger after calling off $25bn supermarket merger

  11-12-2024 15:13
  
  US grocery chains cancel proposed deal after judge warns of harm to consumers and workers
  
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• Macy’s cuts profit outlook as sales fall in run-up to holidays

  11-12-2024 14:58
  US department store chain’s shares slide more than 10%
  
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• Data: Asda only supermarket to see sales fall ahead of Christmas

  11-12-2024 12:35 via retailgazette.co.uk
  
  Asda was the only major supermarket in the UK to see its sales decline in the lead up the crucial Christmas trading period.
  Data from NIQ shows the grocer’s market share slipped 1.1 percentage points to 12.1% as sales fell 4.2% in the 12 weeks to 30 November.
  Ocado remained the UK’s fastest growing retailer as sales rocketed 16.2%, pushing its market share up 0.2 percentage points to 1.8%. Related StoryData: Supermarket sales to top £13bn this month for the first time10/12/2024
  
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• Poundland owner explores ‘every strategic option’ for discount chain

  11-12-2024 12:00 via retailgazette.co.uk
  
  Poundland owner Pepco Group said it will consider “every strategic option” for the struggling discount chain.
  The group’s chief executive Stephen Borchert told Reuters the business was looking at its options “to bring [Poundland] back on track” after it booked a £675m impairment charge on its UK subsidiary due to a weaker performance against increasing competition and cost challenges.
  When asked if Poundland would stay in the group, he said he would say more o
  
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• The eCommerce trends that will define 2025 and beyond

  11-12-2024 11:15 via retailgazette.co.uk
  
  As the eCommerce sector braces for what will undoubtedly be a transformative 2025, retailers find themselves at a critical crossroads. The combination of technological innovation, shifting consumer expectations, and economic recalibration is shifting the landscape. To gain insight into what lies ahead, Retail Gazette speaks with James Brooke, CEO of Mapp – Global Marketing Cloud provider. Brooke’s deep expertise in eCommerce, digital marketing, and AI positions him as a pivotal voice
  
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• Zalando snaps up German fashion etailer in €1bn deal

  11-12-2024 09:45 via retailgazette.co.uk
  
  Zalando is set to snap up German online fashion platform About You as part of its plans to form a pan-European ecommerce platform.
  The retailer said it intends to offer £5.35 (€6.50) per share, which represents a 12% premium on the current stock price and values the platform at £906m (€1.1bn).
  Major About You shareholders Otto Group, Otto Family, Heartland and current management, which represent 73% of the company’s share capital, have entered into binding agreements
  
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• ProCook posts revenue growth despite subdued market

  11-12-2024 09:21 via theretailbulletin.com
  
  ProCook grew its revenue by 7.5% to £28.3 million in the first half of its financial year as like-for-like revenue increased by 4.2%. In the 28... View Article
  
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• Kim Kardashian’s Skims sets sights on former Ted Baker Regent Street flagship

  11-12-2024 08:35 via retailgazette.co.uk
  Skims, Kim Kardashian’s shapewear brand, is reportedly in talks to take over the vacant Ted Baker flagship store at 245 Regent Street, London, Drapers has reported.
  The prime retail location has been empty since August, following Ted Baker’s closure of its remaining UK stores.If the deal proceeds, it would mark Skims’ first physical store in the UK, further expanding the brand’s global footprint. Related Story11 retailers that went bust in 2024 – from Homebase to Th
  
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• Zara owner Inditex boosts sales with strong autumn collections

  11-12-2024 08:24 via retailgazette.co.uk
  
  Zara owner Inditex saw sales rise 7.1% to €27.4bn (£23.4bn) for the first nine months of 2024, driven by strong demand for its autumn winter collections.
  The Spanish fashion giant’s gross profit increased to 7.2%, reaching €16.3bn (£14.0bn), and its gross margin remained stable at 59.4%.
  Despite challenges faced by other retailers, including poor weather conditions and increased operational costs, Inditex saw positive sales growth across its portfolio of brands, which
  
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• Budget backlash: Which retail bosses are for and against Labour’s controversial tax measures?

  11-12-2024 08:00 via retailgazette.co.uk
  
  It’s been just over a month since Labour unveiled its first fiscal Budget since winning the General Election this year.
  Chancellor of the Exchequer Rachel Reeves’ Budget, which introduced measures including increased employer contributions to National Insurance, minimum wage rises and new packaging levies, was met with outrage by many business leaders – many of whom had been supportive of Labour during its election campaign.
  The British Retail Consortium (BRC) went so far as to
  
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• Boots owner Walgreens explores $10bn sale to US private equity giant

  11-12-2024 08:00 via retailgazette.co.uk
  
  Boots’ US owner Walgreens Boots Alliance (WBA), is reportedly in discussions with American private equity giant Sycamore Partners on a potential takeover, potentially triggering a fresh auction for the British high street giant.
  A deal could value the health and beauty retailer at up to $10bn (£7.8bn).
  The talks follow a steep decline in Walgreens’ share price, which has dropped from over $100bn in 2015 to just $7.5bn. News of the discussions, first reported by The Wall Street
  
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• AllSaints launches fragrance range in Boots stores across the UK

  11-12-2024 07:40 via theretailbulletin.com
  
  AllSaints has expanded its partnership with Boots by launching its latest fragrance collection in 93 of the health and beauty retailer’s stores across the UK. The fragrances... View Article
  
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• Nisa further strengthens sales and retail team with head of key accounts appointment

  11-12-2024 07:38 via theretailbulletin.com
  
  Nisa has bolstered its sales and retail team with the appointment of Andrew Rutter as head of key accounts. With over 25 years of experience in... View Article
  
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• Moonpig swings to loss despite revenue uplift

  11-12-2024 07:36 via theretailbulletin.com
  
  Moonpig Group has seen its first half revenue increase by 3.8% to £158 million following 10% growth at the Moonpig brand. Despite, the uplift, the group... View Article
  
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• Coles and Woolworths are fighting claims of fake discounts and a lack of competition - video

  11-12-2024 05:45
  
  Coles and Woolworths are currently fighting two main battles: they're currently subject to a parliamentary inquiry, and are at the centre of a court case brought by the Australian Competition & Consumer Commission. Guardian Australia's senior business reporter, Jonathan Barrett, explains what the competition regulator is alleging, how the supermarkets are defending themselves and what it could mean for Australian consumers.Coles and Woolworths claim Strepsils and Oreos price promotions &lsqu
  
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