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What’s been happening in retail this week? · Boots UK will introduce 25 new beauty brands in stores by summer’s end, including The Beauty Crop and Treehut. This move aims to boost its UK market presence and enhance the in-store experience. Boots already offers over 500 brands, has already revamped 170 beauty halls in stores, with 30 further revamps planned. · B&M Retail will open a new 25,503 sq ft store at Derby's Derbion shopping centre on 26 July. This is part of B&M's plan to operate over 1,200 stores from 950 currently. · White Stuff is expanding into the US market, partnering with 18 independent retailers across seven states. The move follows successful trials in Michigan and Illinois, allowing market testing without significant investment. · Holland & Barrett partnered with MRI Software to invest in AI footfall analytics across its 1,000 UK stores. The technology aims to optimise store performance by providing real-time insights. This investment is part of a broader strategy to enhance growth and customer experiences through advanced analytics and technology. · Sainsbury's partnered with Klarna to introduce a buy now, pay later option for Argos, Habitat and Tu Clothing. · Sainsbury's introduced packaging changes for its own-brand chicken and fish lines, reducing plastic waste by 694 tonnes annually. Salmon fillet trays will switch to pulp cardboard, cutting plastic by 70%. The initiative extends to Taste the Difference and By Sainsbury’s breaded chicken and fish products. · MANGO appointed Nuria Font as the new director of Mango Home, succeeding Laura Vila. Font will strengthen the homeware division as part of Mango's 2024-26 Strategic Plan, with plans to expand its home product range online and open physical stores next year. · Superdry’s creditors approved its restructuring plan with 99% support. The plan includes rent reductions, an equity raise from Julian Dunkerton, and delisting from the London Stock Exchange. Each part of the plan must be approved individually to avoid insolvency. The final vote and High Court hearing are set for 14 and 17 June. · TDR Capital acquired Zuber Issa's share of Asda, becoming the majority owner with a 67.5% stake. Mohsin Issa retains 22.5%, while Walmart holds 10%. TDR Capital is aiming to support Asda’s strategy of offering low prices and expanding convenience stores. · DFS cut its profit forecast due to Red Sea shipping disruptions and weak demand, expecting a pre-tax profit of between £10m and £12m for the year to 30 June, down from earlier estimates of between £20m and £25m. Shipping issues caused between £12m and £14m in delayed deliveries. Additionally, the upholstery market volume dropped by 10% amid economic challenges, although DFS remains optimistic for a recovery in 2024/25. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM

Here are some interesting stories from the world of retail for Tuesday, August 20: 👩🏼⚖️ Grocery giant Kroger sued the Federal Trade Commission on Monday, challenging an administrative proceeding meant to block its proposed $24.6 billion merger with rival Albertsons. 👕 UNIQLO’s sister brand GU is preparing to make its debut in the United States. The GU SoHo flagship store is set to open on September 19 on Broadway in Manhattan - with a sales floor area of about 10,225 sq. ft. 🚚 Best Buy customers can now access live tracking of product deliveries and in-home installation services. On the day of a delivery, once a driver begins their route, the app will use real-time traffic data to provide tracking. 🧵 Secondhand apparel platform ThredUp is testing out a brand-new peer-to-peer resale marketplace that takes direct aim at competitors like Poshmark, Mercari and Depop. 👮🏽♀️ California Governor Gavin Newsom has signed 10 new bills into law that aim to combat retail crime in the state. One of the bills in the package establishes tougher penalties for middlemen in organized retail crime rings. 🚿 This week Canopy, the DTC humidifier and showerhead startup, will expand its physical presence with a national Sephora launch. According to Canopy, its products are the first home devices to be sold in Sephora stores. 💄 Global cosmetics giant Estée Lauder has reported a fall in sales and profit in the full year ending June 2024 as chief executive Fabrizio Freda announces his retirement. 🤖 Apple, seeking new sources of revenue, is moving forward with development of a pricey tabletop home device that combines an iPad-like display with a robotic limb. 🚗 Carvana is developing its first auction and reconditioning "megasite" in Kansas City. The company intends to increase its total reconditioning capacity, which will improve product selection and inventory. 🥛 For years, small dairies facing extinction found saving grace in organic milk. But now that industry is also facing headwinds, and many worried observers fear a downturn in family farms will threaten surrounding rural towns. 🍔 BurgerFi, the fast-casual burger chain and owner of Anthony’s Coal Fired Pizza, is running out of cash – and options. The company said it may need to file for bankruptcy. 🥦 The Times reflects on the challenges facing Asda, after the UK supermarket saw its market share fall from 13.7% to 12.6% in just 12 weeks. The firm has struggled since its acquisition by the Issa brothers and TDR Capital in 2021. 📉 The Conference Board reported Monday that its Leading Economic Index fell 0.6% in July, its fifth straight monthly decline, and ahead of the 0.4% drop forecast by economists. 🚢 Indian port workers' unions have announced a strike starting August 28, seeking resolution of pay revisions and pension benefits. The strike could worsen congestion at Asian and European ports, impacting global trade. #retail #retailnews #economy #DailyRetailNews

What’s been happening in retail this week?   ·      Boots UK will introduce 25 new beauty brands in stores by summer’s end, including The Beauty Crop and Treehut. This move aims to boost its UK market presence and enhance the in-store experience. Boots already offers over 500 brands, has already revamped 170 beauty halls in stores, with 30 further revamps planned. ·      B&M Retail will open a new 25,503 sq ft store at Derby's Derbion shopping centre on 26 July. This is part of B&M's plan to operate over 1,200 stores from 950 currently. ·      White Stuff is expanding into the US market, partnering with 18 independent retailers across seven states. The move follows successful trials in Michigan and Illinois, allowing market testing without significant investment. ·      Holland & Barrett partnered with MRI Software to invest in AI footfall analytics across its 1,000 UK stores. The technology aims to optimise store performance by providing real-time insights. This investment is part of a broader strategy to enhance growth and customer experiences through advanced analytics and technology. ·      Sainsbury's partnered with Klarna to introduce a buy now, pay later option for Argos, Habitat and Tu Clothing. ·      Sainsbury's introduced packaging changes for its own-brand chicken and fish lines, reducing plastic waste by 694 tonnes annually. Salmon fillet trays will switch to pulp cardboard, cutting plastic by 70%. The initiative extends to Taste the Difference and By Sainsbury’s breaded chicken and fish products. ·      MANGO appointed Nuria Font as the new director of Mango Home, succeeding Laura Vila. Font will strengthen the homeware division as part of Mango's 2024-26 Strategic Plan, with plans to expand its home product range online and open physical stores next year. ·      Superdry’s creditors approved its restructuring plan with 99% support. The plan includes rent reductions, an equity raise from Julian Dunkerton, and delisting from the London Stock Exchange. Each part of the plan must be approved individually to avoid insolvency. The final vote and High Court hearing are set for 14 and 17 June. ·      TDR Capital acquired Zuber Issa's share of Asda, becoming the majority owner with a 67.5% stake. Mohsin Issa retains 22.5%, while Walmart holds 10%. TDR Capital is aiming to support Asda’s strategy of offering low prices and expanding convenience stores. ·      DFS cut its profit forecast due to Red Sea shipping disruptions and weak demand, expecting a pre-tax profit of between £10m and £12m for the year to 30 June, down from earlier estimates of between £20m and £25m. Shipping issues caused between £12m and £14m in delayed deliveries. Additionally, the upholstery market volume dropped by 10% amid economic challenges, although DFS remains optimistic for a recovery in 2024/25. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM

What’s been happening in retail this week? ·      Aldi UK plans to invest £650m to open 30 new UK stores in 2025, including locations in London, Essex, and Stoke-on-Trent. The expansion supports its long-term goal of 1,500 UK stores, following £800m investment in 2024. ·      Sainsbury's’s opened a 24-hour Local store at Edinburgh Airport, including click-and-collect for Sainsbury’s, Habitat, and Tu Clothing orders. ·      Virgin Media O2 launched a 5,000 sq ft flagship in Westfield Stratford, featuring discovery zones for gaming, wearables and support. The store includes recycling services and a National Databank hub offering free data to those in need. ·      The Entertainer expanded to 861 Tesco stores in the UK and Ireland. The partnership delivered 4.5 million toys in eight months, with plans for improved range planning in 2025. ·      eBay extended Klarna’s buy now pay later options to the UK, Austria, France, Italy, Netherlands, and Spain, enhancing payment flexibility across key European markets. ·      H&M acquired a minority stake in Voyado, enhancing its capabilities in personalised customer experiences and omnichannel communication. Voyado, growing at 35% annually, plans expansion into the UK and Germany, aiming to support enterprise customers and scale product innovation. ·      Kingfisher plc agreed to sell Brico Depot Romania (part of Kingfisher Group) to Altex Romania for €70m (£58m). The sale includes 31 stores, distribution networks, and the Bucharest head office. Completion is expected in 2025/26, ending Kingfisher’s decade-long presence in Romania. ·      boohoo's £60m London office sale fell through after an investor withdrew due to survey concerns. The retailer faces £47m debt repayment in August 2025 and risks financial losses, with ongoing negotiations for the property sale continuing amidst financial challenges. ·      Boohoo Group PLC opposed Frasers Group's bid to appoint Mike Ashley and Mike Lennon to its board, citing conflicts of interest. Frasers, holding a 27% stake, criticised Boohoo’s governance and proposed alternatives, which Boohoo rejected without full governance protections. ·      Frasers Group CEO Michael Murray is nominated for HUGO BOSS's supervisory board, with elections in May 2025. Murray aims to contribute his retail expertise. Frasers holds a 15.5% stake in Hugo Boss, valued at £358m. ·      Shoezone Retail Limited anticipates its 2024/25 full year pre-tax profit to drop to £5m from £10m, citing reduced consumer confidence, unseasonal weather, and increased costs from the Budget. Planned store closures and a cancelled dividend reflect current trading challenges. This is just a selection of news this week. Sign up below for more insight ⬇️ https//lnkd.in/d-z25aM

What’s been happening in retail this week? ·      TALA entered its first physical retail partnership with Selfridges from 10 May across all four Selfridges locations. ·      JD Sports Fashion opened its first store in the Middle East at Bahrain’s Marassi Galleria Mall in collaboration with global retail partner GMG, spanning 5,422 sq ft. ·      Morrisons acquired 38 convenience stores from SandpiperCI on the Channel Islands, including shops already branded as Morrisons Daily. The stores, which reported a turnover of £124.5m last year, were part of a franchise agreement since 2018. The deal's terms were not disclosed, but approximately 520 SandpiperCI employees will transfer to Morrisons. ·      Asda launched LS Eleven Media Services in collaboration with SMG, utilising first-party customer data from Asda Rewards for enhanced retail media campaigns. ·      Frasers Group announced a partnership with developer AND Digital, innovation specialist Valtech and agency Lab Digital to overhaul its digital infrastructure across brands, enhance operational efficiencies and online experiences. The platform will feature hyper-personalisation and improved product discoverability. ·      Currys plc is partnering with Accenture and Microsoft to deliver its core cloud infrastructure and leverage the latest AI technologies. It aims to enhance operations, elevate the shopping experience and improve experiences for colleagues. ·      Amazon announced plans to build a £500m robotic warehouse in Northampton, projected to be fully operational by 2026. The facility, featuring three floors of robotics technology for stowing and picking customer orders, will initially create 1,400 jobs, ranging from engineers to HR, finance and IT staff. ·      Zalando confirmed its full-year guidance for 2024, expecting revenue and gross merchandise volume to rise between 0% and 5% YoY, with adjusted EBIT projected between €380m (£326m) and €450m (£386m). The retailer reported a first quarter adjusted EBIT of €28.3m (£24.3m) and a 1.3% increase in gross merchandise volume to €3.3bn (£2.8bn). Revenue reached €2.2bn (£1.9bn), down from €2.3bn (£2.0bn) in the previous year. ·      boohoo reported group sales declined 17% YoY to £1.4bn in the year to 29 February, driven by “difficult market conditions”. The fashion retailer's pre-tax losses widened to £159.9m in the period from £90.7m last year, with gross profit falling 16% to £756m. UK sales declined by 16% to £921m, impacted by the macroeconomic environment, price investments, and changes in the sales mix due to the expansion of the Debenhams marketplace. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM

Reliance Retail has announced the temporary closure of several Centro stores as part of a strategic revamp aimed at repositioning the department chain The focus will shift towards promoting Reliance's in-house brands and a shop-in-shop model, according to a report by The Economic Times. This move comes after Reliance Retail rebranded Future Group's Central stores as Centro in September 2022. Mukesh Ambani Big Move As part of the revamping process, Reliance Retail has already closed three Centro outlets and plans to shut down another 20 stores by the end of this month.. Reliance Retail Shift To In-HouseBrands The redesigned stores are expected to prioritize Reliance's own brands and labels, many of which have been introduced as part of the company's partnerships and acquisitions. This shift could see a focus on brands like Azorte and Yousta, along with international labels such as Gap and Superdry, which Reliance has acquired or partnered with in recent years. Centro, which currently offers products from around 450 local and global brands, competes with other major department store chains like Lifestyle International and Shoppers Stop. Despite a post-pandemic surge in consumer spending, retail sales expansion for the chain grew by only 4% last year, indicating a slowdown in the sector. Reliance Retail, however, continues to maintain a strong position in the Indian retail market. Last month, Reliance Retail, which runs about 18,946 stores spanning grocery, consumer electronics and apparel, reported a 3.5% decline in revenue from operations for the three months to September. It said weak demand in the fashion and lifestyle business and calibrated approach to improve margins in its wholesale business hurt revenue, the first instance of a revenue decline for India's biggest retailer except during the pandemic when government restrictions forced the company to shut stores Reliance Retail Revenue Decline In its latest earnings report, Reliance Retail reported a 3.5% drop in revenue for the quarter ending in September. This marks the first decline in revenue for the company, excluding the impact of pandemic-related store closures. The drop was attributed to weak demand in the fashion and lifestyle segments, coupled with a strategic focus on improving margins in its wholesale business.

What’s been happening in retail this week? · Tesco continues its strong momentum, raising full-year profit guidance to c.£2.9bn for 2024/25 after reporting a 15.6% rise in adjusted operating profit to £1.6bn in its first half to 24 August. Investment in prices and stores led to a 3.5% increase in group sales to £31.5bn. · Mulberry England turned down an £83m takeover offer from Mike Ashley’s Frasers Group, stating the bid undervalues the company’s future potential. · Bravissimo was acquired by long-term partner Wacoal Europe - advised by Grant Thornton UK LLP (well done Nicola Sartori and team). The acquisition ensures Bravissimo will continue operating as a separate entity, retaining its UK stores and headquarters. · SHEIN is reportedly preparing informal investor meetings for its planned London IPO, as the fast fashion giant awaits UK regulatory approval. · LOOKFANTASTIC.COM launched its first permanent store in Altrincham, Greater Manchester, following the success of previous pop-up events. The new store features over 90 global beauty brands, in-store experts and beauty services. · John Lewis & Partners reported an increase in website visits by 89,000 daily and significant growth in store traffic and sales over the past three weeks, following the reintroduction of the Never Knowingly Undersold price pledge. · B&Q launched a new refurbished product range sourced from customer returns, ensuring items meet "like new" standards and are available at discounted prices. · AO announced the acquisition of second-hand tech specialist musicMagpie for £10m, aiming to enhance its consumer tech offering and strengthen its online capabilities. · Asda reportedly hit a setback in its search for a new CEO, with head-hunters struggling to attract candidates as numerous potential leaders declined the offer. · Tapi Carpets & Floors reported its first profit outside the pandemic, with a 7.9% revenue increase to £171m in 2023, and an operating profit of £8.1m, compared to a loss of £1.7m in 2022. · Dreams experienced a 2.2% sales increase to £395.4m for the year to December 2023, alongside a rise in underlying EBITDA to £59m. · JD Sports Fashion reported a 2% rise in profit before tax to £405.6m and a 5.2% increase in group sales, exceeding £5bn for the 26 weeks to August. The acquisition of Hibbett solidified North America as JD's largest revenue region. · Simon Roberts, Sainsbury's CEO has said Brits hit by the cost-of-living crisis are unlikely to resume strong spending until the new Labour government sets out its tax and spending plans, and interest rates fall further. 📣 ALERT! Please register for our webinar in partnership with beBettor on the outlook for Christmas and beyond! 📅 >> Tuesday 15 October 12:00-12:45 >> REGISTER FREE NOW: https://lnkd.in/et9fph9v We've surveyed over 100 UK retailers to assess their expectations of the Budget. Not to be missed!

Here are some interesting stories from the world of retail for Saturday, September 14: 📦 Shein and Temu may be hit by a crackdown in the US over a trade loophole. The Biden administration has proposed to change rules that mean the online fashion giant can dodge tariffs on parcels worth $800 or less. 🥦 Discount grocer ALDI USA is boosting its staff for the holiday season with plans to hire more than 13,000 store and warehouse workers. Aldi also announced that it will continue adding new stores across the US. 👗 Ross Stores, Inc. has switched up its merchandising leadership team. The discount retailer promoted two longtime employees to the chief merchant positions at its Ross and DD’s Discounts banners. 🧑🏽⚖️ Kroger and Albertsons rested their merger case Thursday, bringing a three-week hearing over their proposed merger nearer to its end. But it won’t end on schedule. The hearing is now expected to drag into a fourth week. 🏥 Walgreens has agreed to pay a $106.8 million fine to settle allegations the pharmacy chain billed federal health care programs for prescriptions that were never filled. The false claims were sent between 2009 and 2020. 🧸 Build-A-Bear Workshop has appointed David Henderson as chief revenue officer. Henderson will start in the new position on Monday as a member of the company’s executive team. 📉 The University of Michigan’s latest consumer survey, released Friday, showed that Americans’ attitudes toward the economy improved notably this month, rising 2% from August. 💍 Private equity firm 65 Equity Partners on Friday said it has completed a significant minority investment in accessories brand Kendra Scott. The company is now eyeing category growth and geographic expansion. 🎮 Enthusiasm from its army of retail investors is the sole reason GameStop has been able to raise so much money. But with no clear plans for the company, or the money raised, that enthusiasm no seems to be waning, notes the FT. 🌱 Actor and comedian Kevin Hart’s venture into fast food has been cut short with the closure of his plant-based restaurant chain Hart House just two years after it began. 🇮🇳 An antitrust investigation by the Competition Commission of India (CCI) has found that Amazon and Walmart's Flipkart violated local competition laws by favoring select sellers on their platforms. 🇿🇦 Amazon has committed to a long-term presence in South Africa, according to the company's Head of Marketplace for Sub-Saharan Africa. After entering the market four months ago, Amazon is gradually expanding its offerings. 📈 Shrink has been improving in large part because companies’ accounting of their merchandise has gotten more accurate, notes CNN. 🍶 Sake, Japan's national drink, has surged in popularity across the UK, with Waitrose & Partners reporting a 241% increase in online searches. #retail #retailnews #economy #DailyRetailNews

What’s been happening in retail this week? ·      Tesco raised its full-year profit guidance to approximately £2.9bn for 2024/25 after reporting a 15.6% rise in adjusted operating profit to £1.6bn in its first half to 24 August. Investment in prices and stores led to a 3.5% increase in group sales to £31.5bn. ·      LOOKFANTASTIC.COM launched its first permanent store in Altrincham, Greater Manchester, following the success of previous pop-up events. The new store features over 90 global beauty brands, in-store experts and beauty services. ·      Jigsaw partnered with luxury department store Brown Thomas to expand its footprint in Ireland, with availability in Limerick and Blanchardstown stores and online. ·      John Lewis & Partners reported an increase in website visits by 89,000 daily and significant growth in store traffic and sales over the past three weeks, following the reintroduction of the Never Knowingly Undersold price pledge. ·      B&Q launched a new refurbished product range sourced from customer returns, ensuring items meet "like new" standards and are available at discounted prices. ·      AO announced the acquisition of second-hand tech specialist Music Magpie for £10m, aiming to enhance its consumer tech offering and strengthen its online capabilities. ·      Mulberry England turned down an £83m takeover offer from Mike Ashley’s Frasers Group, stating the bid undervalues the company’s future potential. Mulberry plans to pursue its turnaround strategy with new CEO Andrea Baldo and upcoming capital raises. ·      Bravissimo was acquired by long-term partner Wacoal Europe. The acquisition ensures Bravissimo will continue operating as a separate entity, retaining its UK stores and headquarters. ·      Asda reportedly hit a setback in its search for a new CEO, with head-hunters struggling to attract candidates as numerous potential leaders declined the offer. ·      Tapi Carpets & Floors reported its first profit outside the pandemic, with a 7.9% revenue increase to £171m in 2023, and an operating profit of £8.1m, compared to a loss of £1.7m in 2022. ·      Dreams experienced a 2.2% sales increase to £395.4m for the year to December 2023, alongside a rise in underlying EBITDA to £59m. The retailer's modernisation program included record investments in store expansion, tech upgrades and supply chain enhancements. ·      JD Sports Fashion reported a 2% rise in profit before tax to £405.6m and a 5.2% increase in group sales, exceeding £5bn for the 26 weeks to August. The acquisition of Hibbett solidified North America as JD's largest revenue region. Following a recent sales drop at Nike, one of its largest brand partners, JD Sports CEO Régis Schultz said Nike’s struggles do not affect JD Sports’ outlook.   This is just a selection of news this week. Sign up below for more insight ⬇️ https//lnkd.in/d-z25aM

Here are some interesting stories from the world of retail for Tuesday, August 6: ⬇️ Retail space availability has reached its lowest point in decades. The availability rate for retail in the second quarter was 4.7%. Financing constraints as building restrictions in some areas have limited new construction. 📦 Amazon set an October 19 deadline for third-party sellers’ inventory to reach its fulfillment centers to ensure Prime delivery speeds for the Black Friday ordering rush. This is a week earlier than in 2023. 🏦 JPMorganChase is opening more small-town branches in middle America. The branch expansion plans aims to ensure coverage is within an accessible drive time for half the population in the lower 48 states. 🏬 In a new filing with the Securities and Exchange Commission, Big Lots revealed it may shutter up to 315 stores under amended credit and loan terms. In June, the company said it was planning to close 35-40 stores in 2024. 🧴 hims & hers — the online telehealth platform best known for selling hair-loss treatments — said customers are still piling in. The company bumped its full-year sales forecast higher, and second-quarter results beat expectations. 🇬🇧 Retail sales in the UK recovered last month as warm weather finally arrived. According to industry data from the British Retail Consortium (BRC), total retail sales increased by 0.5% year on year in July. 🧑🏻🏫 Through Friday, September 6, Dollar General is offering a 30% discount on school supplies for verified teachers. The dollar store is also offering a variety of other discounts to grab a larger slice of the back to school market. 🥗 Opponents of the proposed merger between Kroger and Albertsons have received support from around two dozen U.S. lawmakers who have asked a federal court in Oregon to temporarily block the deal. 🧗🏼 REI has laid off seven employees recently as part of a reorganization caused by an evolving business strategy in its experiences division. The job cuts come about six months after the outdoor retailer laid off 357 employees. 🇧🇩 The current political unrest in Bangladesh is expected to disrupt the country's clothing industry, potentially affecting global apparel retailers from H&M to Zara as they head into the key holiday season. 📈 Shares of Kellanova closed up 16% on Monday on reports of buyout interest. M&M’s owner Mars is in talks to acquire the snacking company. Kellanova has a market value of nearly $25 billion. 🍝 Days after closing more than a dozen restaurants, Italian American restaurant chain Buca di Beppo has filed for Chapter 11 bankruptcy protection. It will use the bankruptcy process to restructure its operations. 📚 Purchasing school supplies is taking its toll on parents who admit to sacrificing buying necessities to ensure their children have what they need for the year.  #retail #retailnews #economy #DailyRetailNews