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-
Ultimate Products announces chair succession plan
Ultimate Products, the owner of homeware brands Salter and Beldray, has announced that Jim McCarthy has notified its board of his intention to step down as... View Article -
Will Shein revive London’s stock market?
via ft.comPlus, more companies withdraw UK job offers over new visa rules -
Sharp rise in cost of British lamb in UK due to rising demand and import issues
via theguardian.comCold and wet weather also thought to have led to more lambs dying in early season, as Morrison drops 100% British lamb pledgeThe price of British lamb has hit an all-time high as cold weather and disease in the UK and difficulties with imports have combined with a surge in demand.Wholesale prices have soared by more than 40% year-on-year to more than £8.50 a kg , while the amount of lamb expected to be produced in the UK this year is forecast to shrink by 1.4%, according to the Agriculture -
M&S teams up with recycling tech group to trace plastic packaging
via theguardian.comPolytag system prints invisible tag on to containers, which can be picked up by readers located at recycling centresMarks & Spencer is teaming up with a recycling technology group to enable the retailer to trace what happens to its drinks bottles, cartons and other plastic packaging.The Polytag system prints an invisible tag on to containers, which can be picked up by electronic readers located at recycling centres. Continue reading... -
How To Win Customers Over With Fast and Free Shipping
The same day delivery market in the UK is booming. It shouldn’t come as any surprise either. People shop online for convenience and same day, or... View Article -
Natura & Co eyes ‘potential separation’ of Avon as losses widen
Natura & Co confirmed it is exploring a “potential separation” of its Avon brand after reporting widening losses for another consecutive quarter.
Net losses for the former Body Shop owner widened 43.3% to £143.6m (BRL934.9m) in the first quarter, compared to the £100m (BRL652m) loss the year before.
Sales dropped 5.7% to £937.73m (BRL6.1bn), which it attributed to a tough quarter for beauty brand Avon.Subscribe to Retail Gazette for free
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eBay simplifies shopping with new ‘click-to-resell’ feature
Ebay has launched a new ‘resell on eBay’ feature, allowing users to list their clothing online with “just a few clicks of a button”.
The marketplace giant said the feature has been designed to transform the way consumers can resell their pre-loved fashion items and deliver brands a new way to participate in the circular fashion economy.
The feature will be built into Certilogo’s Secure by Design digital ID, accessible by scanning a connected product’s smart la -
Burberry profits slump by 40% as demand for luxury goods slows
via theguardian.comBritish fashion retailer hit by drop in sales in Asia and Americas, and expects challenging first half of 2025Business live – latest updatesBurberry’s profits have slumped by 40% in a year amid a wider slowdown in demand for luxury goods that has pushed down sales in Asia and the Americas.The high-end UK fashion retailer posted a pre-tax profit of £383m for the year up to 30 March in its preliminary results on Wednesday, a 40% drop on the £634m in the previous 12 months. -
Burberry profit plunges 36% amid ‘challenging’ luxury market
Burberry has seen its operating profit plunge 36% to £418m as it grapples with a challenging economic environment amid its strategic repositioning efforts.
The luxury fashion retailer said its like-for-like sales fell 12% in the final quarter, wiping out gains made earlier in the year. While revenue was also down by 4% to £2.9bn.
Chief executive Jonathan Akeroyd said: “Executing our plan against a backdrop of slowing luxury demand has been challenging.”
Sales in Asia grew -
Tesco CEO pay doubles to almost £10m, annual report reveals
Tesco boss Ken Murphy saw his pay more than double over the last year, after the supermarket’s profits rocketed.
The CEO was paid almost £9.93m during the period, after receiving £4.44m the year before, with the pay boosted by £4.91m from Murphy’s performance share plan (PSP).
The PSP payment is based off the grocer’s performance since 2021 and is set to be paid in Tesco’s shares.
Additionally, the supermarket boss was paid an annual salary of £1.6 -
[ EVENT ] The Future of the High Street 2024
The past year has had a dramatic impact on the future physical retail landscape. Many consumers today will shop across both the digital realm and the... View Article -
The Perfume Shop to open new experiential store in Edinburgh
The Perfume Shop is to open a new and improved experiential store in Edinburgh’s St James Quarter on 17 May. Featuring a new layout, the shop... View Article -
Zalando appoints new co-CEO as it adjusts the responsibilities of its management board
Zalando has announced that its co-founder David Schneider is to hand over his co-chief executive responsibilities to David Schröder who is currently working as the online... View Article -
Ironmongery Direct appoints new managing director
Manutan Group’s Ironmongery Direct has appointed Dave Coulson as managing director. Coulson previously held the position of chief executive at three private equity-backed businesses, and was... View Article -
Brexit border IT outages delay import of perishable items to UK by up to 20 hours
via theguardian.comLorries carrying meat, cheese and cut flowers held up by new checks, with retailers rejecting some ordersLorries carrying perishable food and plants from the EU are being held for up to 20 hours at the UK’s busiest Brexit border post as failures with the government’s IT systems delay imports entering Britain.Businesses have described the government’s new border control checks as a “disaster” after IT outages led to lorries carrying meat, cheese and cut flowers being -
How long lines drive away UK retail customers
When shopping in store, convenience and efficiency are the basic requirements for consumers. A busy shop may indicate a thriving business, but long checkout queues can... View Article -
Tesco CEO’s near £10m pay a ‘slap in the face’ for struggling workers, union says
via theguardian.comPackage for Ken Murphy more than double the previous year, and more than half relates to long-term bonusTesco has been accused of giving struggling workers a “slap in the face” after the UK supermarket’s boss earned almost £10m last year as profits soared during the cost of living crisis.Ken Murphy was given £9.9m in pay and perks, more than double the previous year and thought to be the most ever for a Tesco boss, beating £7m-plus paydays for the former chief -
Tesco chief’s pay more than doubles to £10mn
via ft.comKen Murphy earns performance-linked bonuses of £8.3mn after hitting targets -
M&S resets mens formalwear offer as it ‘doubles down on growth plans’
M&S is shaking up its mens formalwear offering for spring/summer 2024 as it targets market share growth in the category.
The fashion and food retailer, which currently holds 18% of the £932m formalwear market, is launching more trend-informed pieces to broaden its appeal to shoppers and drive style perceptions.
It has reduced its option count across the category meaning its core options – such as plain, navy, black and grey – now make up 50% of the range, compared to 75% pr -
Zalando names new co-CEO as co-founder steps down
Zalando co-founder David Schneider is stepping down as co-chief executive to take on a new role at the retailer focusing on partnerships.
Schneider will be replaced by the German fashion etailer’s current chief operating officer David Schröder, who has worked in the company’s senior management team since 2010.
Schröder, who will serve alongside Zalando CEO Robert Gentz, will be responsible for scaling the retailer’s B2B division and developing its unique capabili -
Angling Direct profits double as sales fly
Angling Direct profits have more than doubled as the brand grows its store footprint and develops its omnichannel offer.
Pre-tax profits for the specialist fishing tackle and equipment retailer have rocketed to £1.5m in the year to 31 January, up from £700,000 the year before.
Sales jumped 10.2% to £81.7m, boosted by a 9% rise in UK revenue to £77.4m and a 36.3% surge to £4.3m in European online sales.
Angling Direct boosted its gross margin to 34.9%, driven by impr -
In pictures: Finisterre launches new Covent Garden flagship
Cornish fashion brand Finisterre has opened a new flagship store in Covent Garden, marking the largest of its 11 retail spaces in the UK.
The 2,702 sq ft site on 47-49 Neal Street, replaces the retailer’s previous Covent Garden store on Earlham Street, Seven Dials, which permenantly closed its doors last week.
Finisterre has upsized by 80%, which it said represented its continual growth and vote of confidence in Shaftesbury Capital’s Covent Garden.
Inside, the shop is stocked with it -
Heathrow warns loss of tax-free shopping is ‘curtailing UK’s global connectivity’
Heathrow Airport has warned the loss of tax-free shopping is hurting Britain’s status as a global transport hub.
The airport, which saw passenger numbers rise 4.8% last month, claimed the measure was “curtailing the UK’s global connectivity”.
Its CEO Thomas Woldbye said: “To unlock our full potential to help grow the country’s economy, we need the government to implement policies that support UK aviation’s ability to compete globally.”
While the Tr -
Peoplesafe launch app to protect every journey
Travelsafe is a personal safety app feature designed to protect users wherever and whenever they travel. Help is available faster than calling 999 when your staff... View Article -
Greggs posts strong sales growth as it targets more UK shop openings
Greggs has “performed well” at the start of its financial year as it targets more shop openings across the UK.
The sausage roll maker posted 7.4% like-for-like sales growth in the first 19 weeks of 2024 thanks to continued “good progress across all channels”, including including delivery sales, evening trade, and increased engagement via its app.
Total sales for the 19-week period hit £693m, up from £609m the previous year.Subscribe to Retail Gazette for free -
Greggs on a roll as it targets more UK shop openings
Greggs has “performed well” at the start of its financial year as it targets more shop openings across the UK.
The sausage roll maker posted 7.4% like-for-like sales growth in the first 19 weeks of 2024 thanks to continued “good progress across all channels”, including delivery sales, evening trade, and app engagement.
Total sales for the 19-week period hit £693m, up from £609m the previous year.Subscribe to Retail Gazette for free
Sign up here to g -
WH Smith launches new food range under ‘Smith’s Family Kitchen’ brand
WH Smith has launched its first ever own-brand food range as it looks to meet the needs of today’s travelling customers. The Smith’s Family Kitchen food-to-go... View Article -
Focus on supply chains supports provenance strategies
Focusing strongly on provenance and greater control over the supply chain including moves towards introducing vertical integration are proving critical components of a growing number of... View Article -
Currys sales return to growth
Currys has said it made a strong finish to its financial year as group like-for-like sales returned to growth with an uplift of 2% in the... View Article -
Currys hails ‘strong finish to the year’ as sales return to growth
Currys has made a “strong finish” to its financial year, with its annual profits set to come in ahead of expectations after sales returned to growth.
The electrical retailer anticipates full year adjusted pre-tax profits of between £115-120m, up from the previous guidance of at least £105m
In a full-year trading update to April 27, like-for-like sales in the UK and Ireland increased by 2% amid improved trading momentum. While sales in the retailer’s Nordic business
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