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Why UK supermarkets are not making super profits
via ft.comDespite booming food sales during lockdown, stores face extra costs from the pandemic -
Decathlon expands Buy Back scheme
Decathlon has expanded its Buy Back scheme to more sporting equipment following a successful launch last year. The scheme enables customers to swap old sporting equipment... View Article -
Designer brands owed millions after Matchesfashion collapse
via theguardian.comSome customers of the online fashion site, which owed more than £210m when it collapsed in March, are also unable to get refundsDesigner brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after online fashion site Matchesfashion collapsed owing more than £210m last month.Customers who bought designer items prior to the administration are not able to return items or get a refund, according to a report by ad -
Matchesfashion administration: Burberry, Gucci and Saint Laurent among creditors owed £36m
Burberry, Gucci and Saint Laurent are among the creditors owed £36m following the collapse of Matchesfashion last month.
The luxury ecommerce platform owes money to more than 500 unsecured creditors, with hundreds of suppliers likely to receive less than a penny in the pound.
Administrators at Teneo said in a new report that creditors are unlikely to be paid back and if they are, the amount would be “very low”.
“On present information, it is unlikely that sufficient funds -
John Lewis to reveal job interview questions online to find ‘the best talent’
John Lewis is posting its job interview questions online, in a bid to make the process less overwhelming for potential staff members.
The retailer is set to publish its questions “for every role” online “for everyone to see,” according to the Financial Times.
John Lewis talent acquisition lead Lorna Bullett said: “We want the right people, from a variety of backgrounds, with the best talent to join our organisation.
“It makes absolute business sense to find wa -
PrettyLittleThing co-founders unveil new interior design business
PrettyLittleThing co-founders Adam Kamani and Umar Kamani have launched a new interior design business, Kamani Rossar.
The new firm from the entrepreneurial brothers, which has studios based in London and Dubai, is a business partnership with interior designer Rob Rosser, with the three holding shares in the new firm.
Kamani Rossar will provide interior design services to an external base of global, luxury clients, as well as for Kamani Property Group’s portfolio of commercial, residential -
Poundland scraps nine former Wilko stores months after reopening
Poundland has shut nine of its former Wilko shops within months of reopening them, under a “constant review” of its estate.
A spokesperson for the discount retailer said affected workers had been offered positions a nearby shops in all cases.
The move comes after the business’s owner Pepco Group agreed to take control of up to 71 Wilko store leases from administrator PwC under a last-minute deal in September.
Poundland began reopening the shops with its own branding within week -
Prada and Burberry among Matchesfashion creditors owed £36mn
via ft.comHundreds of suppliers to luxury ecommerce group likely to receive less than a penny in the pound -
Decathlon expands BuyBack service to include all sports equipment
Decathlon has expanded its BuyBack scheme to include all sports equipment following the success of its initial launch on unwanted bicycles.
The initiative has been rolled out across fitness equipment, racket sports, camping gear and water sport items, such as kayaks and paddle boards.
To access the scheme, customers are asked to complete a quick online assessment to register the return of their unwanted product before dropping it off in any Decathlon store nationwide to receive a voucher of up t -
Pret A Manger co-founder returns amid boardroom shake-up
Pret A Manger has made a series of board changes, including bringing back its co-founder as ramps up its next phase of international growth.
Former chief executive officer of Pret owner JAB Holdings Olivier Goudet is stepping down as chairman and will be succeeded by his colleague and JAB partner, Konrad Meyer.
After spearheading the acquisition, Meyer became a board member in 2018 and also served as interim chief financial officer at the height of Covid-19 back in 2020.
Meanwhile, Pret A M -
World Retail Congress review – recognising change is ongoing
After many years of tumultuous change in the retail sector there is growing evidence that many large organisations have now got a handle on things and... View Article -
Pret A Manger announces board changes as it ramps up international growth
Pret A Manger has made a series of board changes as it looks ahead to its next phase of international growth. These have included one of... View Article -
Shares in Gucci-owner Kering sink after sharp fall in profits
via ft.comFrench luxury group says its performance ‘worsened considerably’ in first quarter amid Gucci reset -
Shares in Gucci owner Kering sink after profit warning
via ft.comFrench luxury group says its performance ‘worsened considerably’ in first quarter amid Gucci reset -
Gear4music full year performance in line with expectations
Gear4music, the online musical instruments retailer, has delivered a full year performance in line with expectations. In a year-end trading update, the retailer said total sales... View Article -
In pictures: Mango’s collection with Victoria Beckham
Mango has unveiled its spring/summer 2024 capsule collection designed in collaboration Victoria Beckham as the fashion brand marks its 40th anniversary.
The capsule collection features ready-to-wear, including tailoring, lingerie, dresses, and knitwear, alongside bags, jewellery, and footwear, with prices ranging from £50 to £300.
The Spanish fashion retailer said the new line, which is now available worldwide, reflects “the essence of the designer’s eponymous label, -
In pictures: Mango x Victoria Beckham
Mango has unveiled its spring/summer 2024 capsule collection designed in collaboration Victoria Beckham as it marks its 40th anniversary.
The capsule collection features ready-to-wear, including tailoring, lingerie dresses, and knitwear, alongside bags, jewellery, and footwear, with prices ranging from £50 to £300.
The Spanish fashion retailer said the new line, which is now available worldwide, reflects “the essence of the designer’s eponymous label, considered the -
Mango continues US expansion with new east coast stores
Mango is continuing to expand in the US with new east coast openings in Washington and Boston. The news follows the launch of the fashion retailer’s... View Article -
John Lewis executive finance director, Bérangère Michel, to leave the business
The John Lewis Partnership has announced that its executive finance director, Bérangère Michel, is to leave the business later this year. In a statement, the partnership... View Article -
Matchesfashion strikes a sour note as my £902 goes missing
via theguardian.comI returned two coats and the parcel was lost and then it went into administrationAt the end of January I bought two coats from Matchesfashion for £902. I returned them, but the parcel has been lost and now Matches has gone into administration and I don’t have the coats or the money.I used the DHL labels provided to send them back on 27 February, and followed up a week later as I had not received a refund. I was told my package was still in transit, so I returned to the drop-off point -
When M&A goes wrong
via ft.comExamining how the sale of a California supermarket to a private equity firm turned rotten -
Is Aldi and Lidl’s UK expansion slowing down?
The seemingly unstoppable march of Aldi and Lidl continued last year, and was driven by one major thing: new stores.
Last year, Aldi committed to a long-term target to open 500 new stores across the UK, taking its total number of sites to 1,500, with 35 new stores set to open this year alone.
Despite its grand expansion plans, last year Aldi UK boss Giles Hurley told The Telegraph he had been made to delay the grocer’s opening schedule as it faced a large number of planning objections from -
Getir shareholders to pay for Europe withdrawal under cash injection
Getir shareholders are set to pump more money into the grocery business to cover its withdrawal from the UK and Europe.
Investors at the Turkish company have drawn up provisional plans to inject tens of millions of pounds extra into Getir during the coming weeks, according to Sky News.
Sources close to the situation claimed leading investors including Mubadala, Sequoia Capital and Tiger Global were believed to have agreed to the new funding plan during recent days.
The move will add to the more -
Primark hires ex-Sephora, Walmart and Tesco execs for advisory board
Primark has hired a trio of new executives to its strategic advisory board.
The fast fashion retailer has appointed ex-Sephora CEO Martin Brok, Additionally, former Tesco and Gap executive Christophe Roussel and ex-Walmart president of digital and chief marketing officer Sona Chawla.
The execs will join a team led by Primark CEO Paul Marchant and chaired by its outgoing finance director John Bason, according to Retail Week.
Primark company Associated British Foods (ABF) initially announced Bason -
Gucci-owner Kering expects first-half profit to shrink by up to 45%
via ft.comFrench luxury group says its performance ‘worsened considerably’ in the first quarter amid Gucci reset -
Victoria Beckham’s collaboration with Mango shows how far designer has come
via theguardian.comThe former Spice Girl’s collection with the high street chain is likely to be a fruitful new ventureAs a twentysomething Spice Girl, Victoria Beckham proclaimed that she wanted to be “as famous as Persil automatic”. Now, as she enters her sixth decade, the pop star turned designer has eclipsed her goal.On Tuesday, her debut designer collection for the high street chain Mango landed globally online and in select stores. By 8am in London a queue had formed outside the brand&rsquo -
In pictures: JD Sports unveils its biggest-ever store in Westfield Stratford City
JD Sports has unveiled its biggest store to date as it reopens its flagship in London’s Westfield Stratford City.
The sports retailer has given its unit in the shopping centre a “digital uplift” and extended its retail floor by 4,000sq ft, taking its total space to 27,915 sq ft.
JD Sports says the store, which now sits across two floors, promises to deliver “a seamless and immersive shopping experience”.
Consumers can get their hands on the latest collections from t -
B&Q launches energy saving hubs with the GMCA to boost energy efficiency
B&Q, the home improvement retailer, has launched two in-store Energy Saving Hubs in collaboration with the Greater Manchester Combined Authority (GMCA). The hubs, located at B&Q’s... View Article -
Clarks celebrates iconic style with inaugural Wallabee Day on April 26th
Clarks are excited to announce the first-ever Wallabee Day to take place every year on 26th April, encouraging its global community of wearers to share their... View Article -
John Lewis Partnership finance boss Bérangère Michel resigns
John Lewis executive finance director Bérangère Michel has resigned from the Partnership after 16 years.
Michel will step down from her post in the autumn after deciding “to pursue her future career options outside of the partnership”.
Her departure is the first major change to John Lewis Partnership’s executive team since former Tesco boss Jason Tarry was named as chair Dame Sharon White’s successor.
Michel joined the business in 2008 as its head of financi
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