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Feeling the pinch: why are so many Australian businesses failing?
via theguardian.comThe high cost of living and the ‘bullwhip effect’ have had a deleterious effect, particularly on food services and building, resulting in a decade-high 10,000 collapsesGet our morning and afternoon news emails, free app or daily news podcastAn insolvency tsunami has swept through Australia, putting the country on track to record decade-high numbers of collapsed businesses by the end of the financial year.While building and food services companies are at the forefront of the surge, fe -
Retail sales tumble across Britain amid cost of living squeeze and wet weather; energy price cap falls 7% – as it happened
via theguardian.comRetail sales slumped by more than expected in April as rain kept shoppers away from the high streetEnergy price cap in Great Britain to fall to £1,568 in summerEnergy prices are an early general election football, with all sides trying to please the crowd.Claire Coutinho MP, energy secretary, has announced that the energy price cap would be retained in every year of the next parliament, if the Conservatives win July’s election.“Labour does not have a serious approach to Britain -
Five pieces of economic news that could affect UK election result
via theguardian.comFrom unemployment to inflation, the key data the Tories and Labour must explain to votersRishi Sunak’s slim chance of pulling off a victory against the odds in July’s general election depends on voters buying the argument that tough decisions taken since he became prime minister are paying off.That claim will be tested over the next six weeks – with every piece of economic news more closely scrutinised than usual for evidence that the UK’s tentative economic recovery is g -
Aldi ‘hammers down on prices’ as it slashes cost of fruit and veg
Aldi has reduces prices on over 45 fruit and veg products has it continues its commitment to ensuring “shoppers make significant savings every time they shop”.
From today (24 May) customers at the German dscounter will see lower prices on items including berries, oranges, tomatoes and its fresh salad range.
Produce such as avocados and peppers are also included in the latest price reductions, with prices dropping by an average of around 11%.
Aldi said the move represents a further &p -
Superdrug welcomes host of celebs for its biggest health & beauty event of the year
Superdrug is holding its hugely popular Superdrug Presents experience following the event’s successful return last year post-pandemic. Held at Truman Brewery in London’s Brick Lane, the... View Article -
Rain hits retail sales in Great Britain as shoppers reduce spending
via theguardian.comApril’s wet weather leads to steeper fall than forecast, with clothing and toy stores among most affectedBusiness live – latest updatesA month of unrelenting rain in many parts of the country resulted in British shoppers spending much less than expected in April, with fewer treating themselves to clothes and big-ticket items.The Office for National Statistics blamed the wet weather for the 2.3% drop in the amount of goods bought compared with March, which was much steeper than the 0. -
Lidl predicts busiest days for shoppers over bank holiday weekend
Lidl has predicted its busiest days for shoppers over the bank holiday, as it confirmed its opening hours for the long weekend.
All of the discounter’s stores will remain open as normal on Saturday 25 and Sunday 26 May.
But on Bank Holiday Monday, 27 May, its shops in England (outside the M25) and Wales will open from 8am to 8pm. Within the M25, shoppers will be able to visit stores from 8am until 10pm.
While its Scotland stores will remain open as normal, although customers are advised ch -
Poundland performs ‘behind expectations’ after range revamp
Poundland owner Pepco Group said the retailer’s first half performance fell “behind expectations” following an overhaul of its general merchandise range.
The discount chain’s EBITDA dropped 6.5% in the six months to 31 March, as like-for-like sales slipped 0.7%.
The group attributed Poundland’s weaker performance to “challenges in implementing the significant range change to Pepco products”.Subscribe to Retail Gazette for free
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Ted Baker: US stores and website close following UK collapse
Ted Baker has closed its North-American shops and website amid the embattled chain’s collapse into administration.
It has been reported that 31 of the fashion retailer’s US sites and nine of its Canada shops are shutting, while shoppers across both regions can also no longer use Ted Baker’s website, according to Fashion Network.
Speaking to Drapers, Ted Baker parent company Authentic Brands Group said: “We are close to finalising agreements with new partners to operate Te -
Consumer confidence continues to move up in May
UK consumer confidence has continued to edge up this month as people feel more positive about their personal finances. GfK’s long-standing Consumer Confidence Index has shown... View Article -
Retail sales tumble after April washout
Retail sales have fallen once again as poor weather paired with a cost-of-living squeeze continues to dampen spending.
The latest figures from the Office for National Statistics (ONS) show sales volumes dropped 2.3% in April, following a fall of 0.2% the month before, as poor weather led to a reduction in footfall across most retailers.
However, on a three-month basis, volumes edged up 0.7% to the end of April when compared with the previous three months.Subscribe to Retail Gazette for free
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Pets at Home welcomes CMA investigation into vet sector
Pets at Home has welcomed the Competition & Markets Authority’s decision to push ahead with a full market investigation into the veterinary sector. Yesterday, the CMA... View Article -
British retail sales fall in April as rain deters shoppers
via ft.comVolume drops 2.3% compared with forecast of 0.4% decline -
Morrisons braces for disruption as warehouse staff strike to protect their pensions
Morrisons has warned of disruptions as nearly 1,000 warehouse workers walk out for the next three days in a dispute over pensions.
Employees at the supermarket’s Gadbrook in Cheshire and Wakefield in West Yorkshire distribution centres, who have begun the first of two strikes, claim the cut in company contributions to their pensions is worth up to £10m a year.
Warehouse stock controllers, cooks, canteen staff, and administrators at the depots, who earn between £12 and £13 -
Morrisons braces for disruption as staff strike to protect their pensions
Morrisons has warned of disruptions as nearly 1,000 warehouse workers walk out for the next three days in a dispute over pensions.
Employees at the supermarket’s distribution centres in Gadbrook, Cheshire, and Wakefield, West Yorkshire who have begun the first of two strikes, claim the cut in pension contributions is worth up to £10m a year.
Warehouse stock controllers, cooks, canteen staff, and administrators at the depots, who earn between £12 and £13 an hour, say they -
Lush gives The Poetry Pharmacy a permanent space in its Oxford Street store
Following the success of a pop-up in London’s Soho, Lush is giving The Poetry Pharmacy a permanent location within its Oxford Street store. Spanning 62 square... View Article -
John Lewis launches biggest multi-brand menswear rental platform on the high street
The John Lewis department store has launched the biggest range of menswear brands available to rent on the high street. The move follows the success of... View Article -
Retail sales tumble across Britain amid cost of living squeeze and wet weather; energy price cap falls 7% – business live
via theguardian.comRetail sales slumped by more than expected in April as wet weather kept shoppers away from the high street
The cost of living squeeze, and the bad weather, combined to drive down retail sales in April (see opening post), retail experts say.Kris Hamer, director of insight at the British Retail Consortium, says struggling customers resisted buying ‘big ticket’ items last month.“Sales volumes saw significant decline in April, falling for the third time in five months as the gloomy -
Watch: Aldi mocks competitors in new ‘Can’t match this’ campaign
Aldi has unveiled its new TV ad, set to the tune of MC Hammers smash it ‘U Can’t Touch This’, which sees the discount grocer poke fun at its competitors attempting to ‘price match’ its products.
The ‘Can’t Match This’ creative features a father and son duo who, on learning another supermarket is attempting to price match Aldi, break into a song.
The 30″ film sees a ‘Which? Cheapest Supermarket’ wrecking ball smash through competit -
Retail sales tumble across Britain in wet April; energy price cap falls 7% – business live
via theguardian.comRetail sales slumped by more than expected in April as wet weather kept shoppers away from the high street
Retail sales across Great Britain in April are much weaker than expected.Economists polled by Reuters had expected a drop of around 0.4% on the month, so they’ll be startled to learn that volumes shrank by 2.3%.The 2.3% m/m fall in retail sales volumes in April was much bigger than most expected (CE forecast -0.5% m/m, consensus -0.4% m/m), due to the unusually wet weather discouragin -
British retail sales fall more than expected as April showers deter shoppers
via ft.comVolume drops 2.3% compared with forecast of 0.4% decline -
Cutler and Gross upsizes on New York’s Mercer Street
British eyewear brand Cutler and Gross has upsized to a larger store on New York’s Mercer Street following ten years in the Soho location. The 2,400... View Article -
Retail sales tumble across Britain in April; energy price cap falls 7% – business live
via theguardian.comRolling coverage of the latest economic and financial news, as retail sales slumped by more than expected in April amid wet weather
Newsflash: British households should benefit from lower energy costs this summer.The energy price cap in Great Britain will fall by 7% from July to September, thanks to a fall in wholesale gas prices, enery regulator Ofgem has announced.It still leaves bills far above the £1,154 seen in the summer of 2021, before the energy crisis. Wholesale gas prices began t -
VF Corporation appoints new chief financial officer
VF Corporation, the parent company of The North Face and Timberland, has appointed Paul Vogel as its chief financial officer. He will succeed Matt Puckett, who... View Article -
Asda launches new premium own-brand range
Asda has launched a new brand called Exceptional by Asda as it looks to elevate its premium tier offering. The move forms part of the supermarket’s... View Article -
How retailers are navigating the crucial CX actions
The Customer Experience Foundation’s (CXFO) recent Retail Symposium, where speakers included Holland & Barrett, Halfords, Beauty Pie, consumer champion, Martin Newman, and industry analyst, Richard Lim,... View Article -
Australian fashion label Dion Lee goes into voluntary administration
via theguardian.comMove comes after retail chain Cue ends investment in brand that has dressed celebrities such as Taylor Swift and Dua LipaGet our weekend culture and lifestyle emailThe Australian fashion label Dion Lee has called in the administrators in a major blow to the eponymous brand that has dressed celebrities such as Taylor Swift, Dua Lipa, the Duchess of Sussex and Troye Sivan.The move came after the Australian retail chain Cue announced it had withdrawn its investment in the designer apparel. Continue -
The retail park revolution: Why Primark, Hotel Chocolat and Lush are flocking to the format
As Primark opens its new Teesside Park shop and Hotel Chocolat says all new stores in its pipeline will open on retail parks, we look at why the format is thriving right now – and what the future holds.
Retail parks used to be the place to go to buy tools and hardware or possibly pick out a new sofa. However, they have changed dramatically over the past decade, and shoppers can now leave with not just a new outfit but a fresh set of makeup, and a post-gym haircut too.
The format has been t -
Election 2024: Potential impacts on the UK retail market
Prime Minister Rishi Sunak has announced a general election to be held on 4th July, a move that could significantly impact the retail market in the... View Article -
Unity Place launches first checkout-free store with Amazon’s Just Walk Out technology
Milton Keynes has recently celebrated the grand opening of The Corner Store at Unity Place, the town’s first-ever frictionless shopping experience powered by Amazon’s Just Walk... View Article
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