Retail news

• Former bosses of HSBC and Rolls-Royce knighted in new year honours

  30-12-2024 23:30
  
  Noel Quinn and Warren East, as well as Chanel chief Leena Nair among business figures to be honouredThe former chief executives of HSBC and Rolls-Royce have been knighted, as figures from the business world joined sportspeople, entertainers and public servants on the new year honours list.Noel Quinn, 62, the bank’s chief executive from 2019 until September, received a knighthood for services to finance and net zero. He is credited with revamping HSBC and achieving record profits in 2023, w
  
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• End of the lines? QR-style codes could replace barcodes ‘within two years’

  30-12-2024 17:59
  
  Retailers already trialling next-generation codes that can show sell-by dates, product instructions and ingredientsIt is the zebra-striped tag that has become ubiquitous over the last 50 years, but the barcode’s days could be numbered. The global organisation overseeing their use has said a more powerful alternative will be readable by retailers everywhere within two years.New codes that contain sell-by dates, product instructions, allergens and ingredients, as well as prices, will mean &l
  
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• Barcodes could be superseded by a more powerful alternative ‘by the end of 2027’

  30-12-2024 17:59
  
  Retailers already trialling new codes that contain sell-by dates, product instructions, allergens and ingredientsIt is the zebra-striped tag that has become ubiquitous over the last 50 years, but the barcode’s days could be numbered. The global organisation overseeing their use has said a more powerful alternative will be readable by retailers everywhere within two years.New codes that contain sell-by dates, product instructions, allergens and ingredients, as well as prices, will mean &ldq
  
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• Trump Bibles, Rudy coffee, Tucker nicotine pouches: the rightwing knick-knack racket

  30-12-2024 16:00
  
  Republican figures are using their influence to sell a variety of goods, preying on people’s political affiliationsIf you wanted to, you could smell like Donald Trump. Or you could drink coffee developed by Rudy Giuliani. You could also use a nicotine product developed by Tucker Carlson, read your children a Trump-themed book written by Mike Huckabee, take health pills hawked by Dr Oz and wear T-shirts designed by Kash Patel.These are only a few of the products that Trump and people in his
  
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• The Perfume Shop sells two million bottles of perfume in run-up to Christmas

  30-12-2024 12:27 via theretailbulletin.com
  
  The Perfume Shop has been celebrating a successful Christmas trading period after it sold two million bottles of perfume between 28 November and 24 December. The... View Article
  
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• Post-Christmas footfall rises as shoppers hit the stores

  30-12-2024 10:54 via retailgazette.co.uk
  
  Post-Christmas footfall is up year on year as shoppers flocked to the stores for the Boxing Day sales.
  Footfall across all UK retail destinations was up 14.2% on 27 December compared to last year, driven by a 20.2% surge in shoppers on high streets, according to data from MRI Software.
  Shopping Centres enjoyed a 12.7% rise in footfall, while retail parks saw a modest 2.7% increase.
  The surge in shoppers come as footfall on Boxing Day (26 December) fell 7.6% as many retailers, including John Lewi
  
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• Data: Almost 170,000 retail jobs lost in 2024

  30-12-2024 10:36 via retailgazette.co.uk
  
  Retailers cut almost 170,000 jobs in 2024 during another challenging year on the British high street.
  Data from the Centre of Retail Research found that a total of 169,395 retail jobs have been lost so far this year – a 42% jump on 2023 levels.
  It is the highest annual figure since 2020 when more than 200,000 jobs were lost as retailers were forced to shut their stores during the Covid lockdowns. Related Story11 retailers that went bust in 2024 – from Homebase to The Body Shop04/12/2
  
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• Quiz losses double as it eyes stock market exit

  30-12-2024 10:18 via retailgazette.co.uk
  
  Quiz has revealed its half-year losses have more than doubled as it warns it will run out of cash by early 2025.
  The fashion retailer said the “disappointing level of revenues” in the run up to Christmas has meant the cash headroom available is “less than previously anticipated” and that it will need additional funding in early 2025.
  The warning came as Quiz reported its pre-tax losses had deepened from £1.5m to £4.7m for the six months to 30 September.
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• THG shareholders back Ingenuity split

  30-12-2024 09:48 via retailgazette.co.uk
  
  THG shareholders have voted in favour of its plan to spin off its loss-making Ingenuity ecommerce platform into a separate company.
  Around 89% of investors backed the LookFantastic and MyProtein owner’s divestment of its technology arm at a valuation of £90m on Friday.
  Ingenuity, which employs about 3,500 people, provides technology to support the online operations for retailers including the likes of The Range and Holland & Barrett. It also has 13 warehouses across the UK.
  
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• Issa Brothers eye £13bn float for EG Group

  30-12-2024 09:34 via retailgazette.co.uk
  
  The Issa brothers are considering floating their petrol station empire EG Group in the United States for as much as £13bn.
  The business has sounded out banks for a possible listing in 2025, which would result in a significant payday for the billionaire brothers and their private equity partner TDR Capital, The Telegraph reported.
  It is thought that EG Group is leaning heavily towards a listing in the US – which is the company’s biggest market – despite the Issa brothers&r
  
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• Best of 2024: How Clarks is blending heritage with innovation to remain relevant

  30-12-2024 09:00 via retailgazette.co.uk
  Clarks may be approaching its 200th anniversary next year, but the footwear giant isn’t harking back to the past – it’s focusing on the new, as it looks to attract new customers through innovative designs and exclusive collaborations.
  The team leading this push for the Somerset-headquartered firm has a distinctly international feel. French footwear veteran Olivier Motteau leads the retailer’s European business and comes with spades of experience having led New Balance acr
  
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• Best of 2024: Clintons new owner’s plans for the card retailer that refuses to fold

  30-12-2024 09:00 via retailgazette.co.uk
  
  Clintons’ future on the high street was secured once more after it was snapped up by family-owned greetings card specialist Cardzone in March. The once-dominant cards retailer is however a shadow of its former self, trading from a store estate 84% smaller than it once was, with just 163 Clintons branches nationwide.
  At its peak, it was the clear greetings card market leader with over 1,000 stores and a presence in almost every major British town, but an influx of internet rivals alongside
  
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• L’Oréal to acquire Korean skincare brand Dr. G

  30-12-2024 08:16 via theretailbulletin.com
  
  L’Oréal is to acquire Korean skincare brand Dr. G from Swiss retail group Migros. The skincare and cosmetics giant will purchase Migros subsidiary Gowoonsesang Cosmetics Co,... View Article
  
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• B&Q to acquire three Homebase stores in Ireland

  30-12-2024 08:16 via theretailbulletin.com
  
  Kingfisher has announced that B&Q has reached agreements to acquire three Homebase stores in the Republic of Ireland for around £3.2 million. The company said the... View Article
  
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• Seasalt to expand US presence

  30-12-2024 08:12 via theretailbulletin.com
  
  Seasalt Cornwall is to open at least two further stores in the US following the success of its first location in the country. The fashion brand... View Article
  
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