Zalando has reported “improved” profitability during its first quarter as its updated strategy starts to bear fruit.
The German fashion giant said adjusted EBIT rose to £24.3m (€28.3m) in the three months, up from a loss of £600,000 (€700,000) for the same period last year.
It noted the “substantial improvement” in profitability was driven by lower fulfilment costs and successful inventory management, which contributed to a 1.3% adjusted group EBIT m
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Zalando improves profitability due to lower fulfilment costs
-
Superdry landlord M&G ditches challenge to retailer’s rescue plan
The owner of Superdry’s Oxford Street flagship, M&G, has ditched a challenge to its rescue plan, giving a boost to the fashion chain.
The global investment manager, which initially considered a challenge to the retailer’s rescue plan in April, has decided not to continue with a formal objection, Sky News reported.
M&G had previously engaged lawyers from Hogan Lovells to examine the proposals.
City insiders also said that British Land, which owns various Superdry sites, object -
M&S expands partnership with White Stuff across 10 additional stores
White Stuff has expanded its partnership with M&S, opening in a further 10 of the retail giant’s UK stores this season.
The tie-up, which includes the fashion and food retailer’s stores based in Southampton, Watford and Sheffield, brings White Stuff’s total store number to 20.
Each new location is set to be specifically curated to offer shoppers “the best of White Stuff’s seasonal collections,” including its latest early summer edit, according to the busin -
M&S CEO: ‘We should have overtaken Waitrose already’
M&S boss Stuart Machin has claimed the supermarket should have already “overtaken” Waitrose, following its recent bumper profits.
The retailer’s latest annual financial results revealed profits had jumped 41% to £673m, while sales had risen across both its fashion and food departments.
Speaking to The Telegraph, the CEO said: “You could argue we should have overtaken [Waitrose] already. I might even be arguing that internally here.”
Despite its recent succ -
Ocado faces FTSE 100 relegation after failing to deliver on pandemic promise
via theguardian.comIts shares soared as Covid seemed to be changing shopping habits for ever. But they have fallen 50% this yearWhen Ocado entered the FTSE 100 six years ago, it was seen as a flag-bearer for changing consumer tastes, as traditional retailer Marks & Spencer narrowly avoided relegation from the top tier on the same day.This week, those roles look set to be reversed, with M&S riding high and Ocado now expected to drop out of the index of the UK’s top companies in the quarterly reshuffle -
Did you pay for that? What is driving the massive rise in shoplifting?
via theguardian.comHigh streets across the UK are struggling with an epidemic of stealing. What’s behind this sudden crime wave and can anything be done to stop it?A man leaves a north London branch of Aldi carrying two bags of groceries that he did not pay for. He hadn’t planned to steal, but after becoming exasperated with the slowness of staff attending to the various glitches and alarms of the self-checkout system, and assuming it would go unnoticed, decides to just walk out the door.He crosses the -
What cost-of-living crisis? Australians splashing the cash on luxury bags, health clubs and art
via theguardian.comWhile most of the country is being hammered by rising prices of everything from rent to food, the top end is still flush – and spendingGet our morning and afternoon news emails, free app or daily news podcastAlex Leung brings out a small box. It’s covered in the rich orange of Hermès, one of the world’s most expensive luxury brands, and sits on the counter, elaborately embossed logo on the outside. Inside is a handbag made of alligator skin and tanned green. It’s s -
Members only: are loyalty card discounts a good deal for UK consumers?
via theguardian.comThe number of retailers offering special prices for members has soared. We asks if the price cuts are as good as they seemWhether you are buying clothes, garden furniture or groceries this summer, it is hard to avoid getting caught up in the loyalty card fever sweeping the high street.Do you want to pay the “member price” of £15.99 for some on-trend denim Bermuda shorts (or “jorts”) at H&M, or stump up £21.99? Continue reading... -
Stanley Goldstein, retail magnate, 1934-2024
via ft.comThe co-founder of the CVS pharmacy chain oversaw its expansion from a pair of stores into a business behemoth -
Selfridges launches Harry Styles’ Pleasing pop-up for summer
Selfridges has launched a Harry Styles Pleasing pop-up in-store, following a successful residency at the department store’s Corner Shop last year.
The brand’s first summer ready-to-wear collection, which is available in-store and online, includes a host of “new and familiar products” ranging across apparel, nail and accessories.
The pop-up features garments including a sleeveless knit sweater, colorful tracksuits and vintage-inspired T-shirts.
The collection, which comes -
Unholy guacamole – Tesco is tattooing its avocados to cut waste
via theguardian.comLaser-etching being tested as an alternative to plastic stickers as part of attempts to cut wasteTesco is testing the etching or “tattooing” of avocados as a way to cut out the millions of plastic stickers used to label them.The retailer said is was working with a fruit supplier, Westphalia, to scrap the stickers currently used on its extra large avocados and replace them with a laser etching, in a trial launched this month. Continue reading... -
Tesco hoping to sell the avocado with the barcode tattoo
via theguardian.comLaser-etching being tested as an alternative to plastic stickers as part of attempts to cut wasteTesco is testing the etching or ‘tattooing’ of avocados as a way to cut out the millions of plastic stickers used to label them.The retailer said is was working with a fruit supplier, Westphalia, to scrap barcode stickers currently used on its extra large avocados and replace them with a laser etching, in a trial launched this month. Continue reading... -
In pictures: Fujifilm unveils revamped House of Photography flagship
Fujifilm has reopened the doors to its House of Photography flagship in London’s Covent Garden.
The renovated space acts as a “creative hub” and will play host to workshops with photography experts, panel discussions, fitness classes and secret live music gigs.The camera specialist has extended the flagship’s gallery space, redesigned the print workshop and provided dedicated areas for its professional GFX medium format system and X series digital camera range.
Fujifilm h -
Retail footfall hit by broken business rates and outdated planning laws in May
Retail footfall for May remained well below figures from last year, despite the bank holidays and sunnier weather across the UK.
Total footfall slipped 3.6% from the year prior, as the British Retail Consortium (BRC) blamed a “broken business rates system and outdated planning laws” for the decline. However, the organisation noted footfall was up from April’s 7.2% fall.
Shopping centre visits sunk 4.5% from last May, while high street footfall dropped 2.7% for the period.
Scotl -
The jewellery boss tasked with making Cartier-owner Richemont shine
via ft.comNew chief executive Nicolas Bos has enjoyed success at Van Cleef & Arpels but takes over as luxury industry slows -
Tesco swaps out stickers for laser barcodes on avocados to cut waste
Tesco is trialling laser-etched barcodes on avocados to replace traditional stickers as it looks to reduce its waste.The grocery giant will use high-powered lasers to remove a tiny section of the skin on its extra large avocados and will etch size information onto the fruit in just a third of a second.
Avocado supplier Westfalia Fruit said the thick outer skin of avocados makes them suitable for new labelling system and assured the quality and shelf life of the fruits would not be affected by th -
Emma to open first UK standalone store at Westfield London
Sleep brand Emma is to open its first UK standalone store at the Westfield London shopping centre in White City today. Customers visiting the 3,035 square... View Article -
Frasers Group tops up Hugo Boss stake to £305m
Frasers Group has increased its financial exposure in Hugo Boss, bringing its total shares in the company to £305m.
The retail group, which owns retailers including Sports Direct, House of Fraser and Flannels, said on Friday that it now holds 2.47% in common stock of the fashion brand and 13.92% via put options.
The company reduced its stake in Hugo Boss at the start of last year, cutting its total investment from £770m to £580m.Subscribe to Retail Gazette for free
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Scurri acquires specialist conversational AI platform, HelloDone, to offer enhanced customer services within the delivery experience
Acquisition will further expand Scurri’s delivery management and post-purchase capabilities for ecommerce retailers and brands. Delivery management platform, Scurri, today announced the acquisition of HelloDone, the... View Article -
JD Sports hails strong full year performance despite drop in profits
JD Sports has said it achieved a strong full year performance in a “very challenging” market despite a drop in profits. In the 52 weeks to... View Article -
Currys hires N Brown CEO Steve Johnson for board role
Currys has hired N Brown CEO Steve Johnson to join its board.
Johnson has been CEO of the JD Williams and Jacamo owner since 2019, and assumed the role of interim executive chair earlier this month. He will become a non-executive director and member of Currys audit committee from 1 June.
Prior to his time at N Brown, Johnson was financial services marketing and product director at Shop Direct, now Very Group, and has also held senior executive roles at Sainsbury’s and Halifax.
Current -
Sainsbury’s under fire for card payment issues in-store and online
Sainsbury’s is facing issues with its card payment system, impacting some of its in-store payments and same-day deliveries.
Shoppers have complained about the problems across social media, although it remains unclear how many shops and customers have been affected by the issues, according to the BBC.
The grocery giant has been responding to some customers directly via social media.
The supermarket claimed the problem had been intermittent since Thursday morning, and that it was continuing -
Sainsbury’s resolves card payment issue across stores and deliveries
Sainsbury’s has resolved an issue with its card payment system, which impacted some of its in-store payments and same-day deliveries.
Shoppers had complained about the problems across social media, although it remains unclear how many shops and customers had been affected by the issues, according to the BBC.
The grocery giant has been responding to some customers directly via social media.
The supermarket previously claimed the problem had been intermittent since Thursday morning, and that -
JD Sports profit dips in ‘challenging market’
JD Sports full-year profits dipped as it was hit with a “challenging market” over the year.
The retailer’s profit before tax and adjusting items fell 7.5% to £917.2m in the year to 3 February, which it said reflected continued investment in its people, stores, systems and supply chain.
Sales were up 2.7% to £10.4bn as like-for-likes edged up 3.8%. Gross margin dipped slightly to 48%, which it said reflected “elevated market promotional activity during peak tra -
Amazon Fresh wraps up grocery delivery across five UK cities
Amazon Fresh is set to wrap up its direct grocery delivery service across five UK cities at the start of June.
The retailer told shoppers it would be ending its Amazon Fresh offering across Portsmouth, Glasgow, Sheffield, Leeds and Newcastle at the beginning of next month.
Amazon introduced the online grocery service back in 2016, which initially only served central and East London. However, the ecommerce giant has since widened its operations across the UK.
Highlighting that it was now focussin -
Amazon Fresh ditches grocery delivery across 5 UK cities
Amazon Fresh is set to scrap its direct grocery delivery service across five UK cities at the start of June.
The retailer told shoppers it would end its Amazon Fresh offer in Portsmouth, Glasgow, Sheffield, Leeds and Newcastle at the beginning of next month, according to The Grocer.
Amazon introduced the online grocery service back in 2016, which initially only served central and East London. However, the ecommerce giant has since widened its operations across the UK.
Highlighting that it was no -
Ribble appoints Sean Hastings as chief executive
The Ribble bike brand has appointed former River Island chief customer officer Sean Hastings as its new chief executive. Possessing extensive experience in leading transformational change... View Article -
Burberry chief executive to miss out on bonus after profit fall
Burberry’s chief executive Jonathan Akeroyd will not receive a bonus for the latest financial year after the luxury brand “underperformed” against expectations. In the 52 weeks... View Article -
Aldi invests £750 million with Kent based apple grower
Aldi has signed a new £750 million deal with a family-owned Kent-based fruit farm. AC Goatham & Son has supplied the supermarket with apples and pears... View Article -
Morrisons brings back cardboard boxes to checkouts
Morrisons is once again making cardboard boxes available to customers at its checkouts. The supermarket is rolling them out nationwide after listening to shoppers who wanted... View Article
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