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Watchdog would get powers to ‘smash’ supermarket duopoly under Greens bill
via theguardian.comThe party will table a private senator’s bill this week to enable the ACCC to force Coles and Woolworths to sell off parts of their businessFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralia’s competition regulator would gain powers to “smash the supermarket duopoly” and force the breakup of big supermarket chains, under a push from the Greens to be introduced to federal parliament.The G -
Delivery firm Getir to quit UK, Europe and US and focus on Turkey
via theguardian.comGrocery service grew during Covid pandemic but has retreated amid competition and waning demandThe grocery courier firm Getir is to quit the UK, Germany, the Netherlands and the US to focus on its home market of Turkey amid heavy competition and waning demand for rapid home deliveries.The closure marks the latest shakeout of the fast grocery delivery industry which grew rapidly during the Covid pandemic but has sharply retreated since. Continue reading... -
Vinted posts first profit as CEO points to ‘huge potential’
Vinted, the online marketplace for secondhand fashion, has made a profit for the first time following a “strong” year of growth.
The Lithuanian business made a net profit of €18m last year versus a loss of €20m in 2022. Sales surged 61% year on year to reach €596.3m.
Chief executive Thomas Plantenga said: “Secondhand fashion is still a relatively immature market and only a tiny proportion of fashion overall”.
“Our performance in 2023 was not onl -
John Lewis launches ‘best ever’ discounts and prizes for Members’ Week
John Lewis is ramping up its Members’ Week with loyalty card members set to benefit from what it called “the best ever line-up of treats and events” between 1-7 May.
Using their My John Lewis card, members will have access to store-wide discounts and a range of prizes, including £500 of holiday spending from John Lewis Finance.
Members can also attend a variety of in-store events that have been tailored to local branches and areas, including beauty masterclasses, food an -
Getir to exit UK with 1,500 job losses expected
Getir is withdrawing from the UK market as its scraps its European expansion plans, in a move that is set to result in the loss of around 1,500 jobs.
According to Sky News, the rapid delivery firm will also be exiting its remaining European operations in Germany and the Netherlands, having already departed from Italy and Spain.
While it is unclear exactly how many UK jobs will be lost, it is understood that the company employs up to 1,500 staff including warehouse operators, managers and riders. -
Making the workplace inclusive for autistic employees
April marks Autism Acceptance Month, a pivotal time to amplify awareness, understanding, and inclusion for autistic individuals. Autism Acceptance Month exists to celebrate the positive contributions... View Article -
Gymshark appoints Hannah Mercer as its first GM for Wholesale and Retail
Gymshark, the fitness community and apparel brand, today announces the appointment of Hannah Mercer to the newly created role of General Manager, Wholesale and Retail. Hannah... View Article -
The Perfume Shop receives scent-sational new addition with experiential store in Telford
The Perfume Shop has had a scent-sational new addition as it opens the doors to another new and improved experiential store at Telford Shopping Centre, Telford... View Article -
Secondhand fashion seller Vinted moves into profit after 61% sales rise
via theguardian.comLithuania-based site is expanding while its rivals Depop and RealReal reported losses last yearThe online secondhand fashion seller Vinted has reported a 61% rise in sales to almost €600m (£513m), taking the company out of the red for the first time amid a boom in demand for “pre-loved” clothing.The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland; an expansion into luxury fashion through its acquisition of secondhand -
Tesco unveils ‘hyper-personalised’ Clubcard challenges for shoppers
Tesco has unveiled a new “hyper-personalised” Clubcard promotion for millions of its shoppers, under its new partnership with AI technology business Eagle Eye.
The grocery giant is inviting three million loyalty scheme members to participate in its ‘Clubcard Challenges’ campaign, which starts from 20 May, running for six weeks.
The campaign will allow customers to collect up to £50 in loyalty points by doing 10 out of a choice of 20 personalised challenges, which wi -
Trainer brand On names FKA Twigs as creative partner amid apparel push
Swiss sneaker giant On has signed artist FKA Twigs as its new creative partner for its new training vertical as the retailer continues its expansion into apparel.
The running specialist has teamed up with the British singer and dancer, who will help design a new clothing and footwear collection and will serve as the face of the launch in August.
The training line will include sports bras, crop tops, T-shirts and sweatpants, as well as a version of On’s recently launched Cloudtilt sneakers -
BP announces changes to UK retail leadership team
BP has made some changes to its UK retail leadership team with the appointment of Jo Hayward as VP mobility & convenience retail and Natalie Cattermole... View Article -
Gymshark names Adidas exec as its first wholesale and retail boss
Gymshark has appointed Hannah Mercer to the newly created role of general manager, wholesale and retail.
Mercer joins the activewear giant after six years at sporting rival Adidas as global vice president where she “masterminded and executed the brand’s global retail strategy”.
Prior to Adidas, she held senior retail roles at Nike, Harrods and House of Fraser.
In her new role, Mercer will be responsible for the growth of the business across all physical channels “to repre -
N Brown chair to step down
N Brown has announced that its chairman Ron McMillan will be retiring and stepping down from its board on 30 April due to personal reasons. The... View Article -
Monsoon Accessorize profits plunge with trading remaining ‘difficult’
Monsoon Accessorize has said trading conditions remain “difficult” despite pressures easing as it posted a drop in profits.
The fashion retailer reported an EBITDA of £20m in the year to 26 August 2023, down £4.4m or 18% from the previous year.
Group sales at Monsoon, Accessorize and East owner Adena Brands dipped by 4% to £248m as the retailer transitioned to a new franchise partner in Saudi Arabia and kidswear sales fell.
Retail like-for-likes rose 4% in the perio -
New leasing directors appointed for Victoria Leeds and The Liberty Romford
Shopping centre owner and operator Redical has appointed Rachel Bradburn as leasing director for Victoria Leeds and Oliver Lloyd to the same role for The Liberty... View Article -
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 -
Lidl announces £500 million investment into British pork
Lidl is investing £500 million into the British pork sector as it looks to help address the challenges faced by the industry. The supermarket said the... View Article -
N Brown chair Ron McMillan retires
N Brown chair Ron McMillan is stepping down as he retires from the board after 11 years.
McMillan, who is due to leave on April 30, will be replaced by group chief executive Steve Johnson on an interim basis until a permanent chair is appointed.
The JD Williams and Simply Be owner said it had begun a search for McMillan’s replacement and a further announcement will be made in due course.Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your i -
L Catterton acquires majority stake in KIKO Milano
L Catterton, the global consumer-focused investment firm, has agreed to acquire a majority stake in the KIKO Milano Italian beauty brand. While terms of the transaction have... View Article -
Ocado shareholder revolt over £15m CEO pay looms
Ocado is set to face criticism from shareholders today (April 29) over a potential bonus worth up to £14.8m for chief executive Tim Steiner.
Shareholder advisory group Glass Lewis has called on investors to vote against the online group’s “egregious remuneration practices” at its annual general meeting.
It said “we remain concerned about the potential for excessive remuneration” and “question the need for this enhanced incentivisation tool”.
Dan Ho -
Second-hand fashion site Vinted posts first annual profit
via ft.comEurope’s largest digital marketplace for vintage clothes enjoyed rapid revenue growth in 2023 -
Ocado pay backlash looms as firm moves to offer boss £14.8m package
via theguardian.comInvestors urged to vote against online grocer’s remuneration for CEO Tim Steiner at upcoming AGMOcado is facing criticism as it seeks shareholder approval on Monday for a potential bonus worth up to £14.8m for its chief executive, Tim Steiner.Glass Lewis, an influential shareholder advisory group, has urged investors to vote against the online grocery group’s remuneration policy and performance share plan at its annual shareholder meeting, flagging “egregious remuneration -
Britons avoid the pub as cost of living weighs on leisure spending
via ft.comDeloitte survey shows people opting to spend less money on social drinking than at any time since lockdown -
Britons avoid the pub as cost of living weigh on leisure spending
via ft.comDeloitte survey shows people opting to spend less money on social drinking than at any time since lockdown -
Harvey Nichols owner lends further £25m to chain
Harvey Nichols owner Sir Dickson Poon has committed to lend an additional £32.5m to the retailer, in a bid to veer it away from financial difficulty.
Accounts filed at Companies House last week show that the businessman lent the department store chain £25.5m, and had committed to pay a further £7m following its year-end last April.
Poon has now lent £106m in total to the luxury retailer, which now has no external debt.
A Harvey Nichols spokeswoman said Poon believes it is -
Shein set to boost FTSE 100 with London IPO
Shein is expected to boost the FTSE 100 as soon as next month, when the fashion retailer has confirmed it will float its shares in London.
Chancellor Jeremy Hunt and Labour’s shadow business secretary Johnny Reynolds voiced their support for the stock market float after Shein executive chairman Donald Tang visited the UK in April.
The Chinese retail giant initially indicated a preference to float its shares in New York, where stock market valuations for online firms are usually much higher -
Shein forecast to boost FTSE 100 in May following London float
Shein is expected to boost the FTSE 100 as soon as next month, when the fashion retailer has confirmed it will float its shares in London.
Chancellor Jeremy Hunt and Labour’s shadow business secretary Johnny Reynolds voiced their support for the stock market float after Shein executive chairman Donald Tang visited the UK in April.
The Chinese retail giant initially indicated a preference to float its shares in New York, where stock market valuations for online firms are usually much higher -
Wonky Waitrose billboard fenced off by London council as stunt backfires
via theguardian.comConcerned public contact council over safety fears after retailer erected askew billboard in WandsworthA Waitrose billboard erected in a wonky fashion as a marketing stunt was fenced off by council staff after fears about public safety .The retailer erected an askew billboard on Lindore Road in Wandsworth, south-west London, in a nod to its falling prices. Continue reading... -
Littler India: why Britain’s south Asian garment stores are struggling
via theguardian.comThey have been resilient amid wider high street decline – but units are now emptying in areas such as Southall, west LondonThe south Asian high street is facing a fight for its future in Britain as customers scale back wedding celebrations because of the cost of living crisis and young people’s changing preferences.Businesses in London and Manchester have said they have witnessed a huge decline in customers after the pandemic with the cost of living crisis prompting many to decide ag
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