Ikea is to hugely ramp up its presence in the “global retail mecca” of London through a £1 billion investment blitz over the next three years. The pledge came on the day of the first opening of a small format Ikea store in the UK on King Street in Hammersmith. It will be followed by... Continue Reading →
Asda strike looms as thousands of warehouse staff reject pay deal
Almost 70% of the GMB union’s 8,000 members within Asda’s distribution network voted to reject the pay rises. // The grocer offered base rate increases to warehouse and clerical staff ranging from 4.98% to 6.10% and 6.49% to 7.53% for transport staff Asda is now closer to facing potential disruption to its deliveries after thousands of lorry... Continue Reading →
M&S strikes new beauty partnership with Clinique
34 M&S stores will have Clinique counters and another 40 will have bespoke product displays Marks & Spencer has unveiled a partnership with Clinique to sell the beauty brand’s products both in-store and online. Around 500 Clinique products will be available for free next-day delivery through the M&S website as well as for click and... Continue Reading →
Mike Ashley selling Berryden Retail Park amid renewed investor interest in property
By David Mackay Mike Ashley bought the Berryden Retail Park in October 2020. Photo: PA/DCT Media Mike Ashley is plotting the sale of the Berryden Retail Park in Aberdeen as part of an auction of his property portfolio. The Sports Direct tycoon’s Frasers Group only bought the site in October 2020 in a series of... Continue Reading →
More than 17,000 chain outlets closed in UK last year, figures show
Kate Dennett • 1d In 2021, 17,219 chain store branches closed down, according to PwC researchIn comparison, just 7,160 new chains opening, leading to a net decline of 10,059Since 2019, the number of new shop openings has plummeted by 26 per centShopping centres dropped to the worst performing locations in 2020 and 2021 More than 17,000 chain... Continue Reading →
Saudi Arabia’s largest retail pharmacy chain to proceed with IPO
Nahdi Medical Co. plans to sell a 30% stake, or up to 39 million shares Riyadh: Saudi Arabia's largest pharmacy retail chain hired the local unit of HSBC Holdings Plc and the investment banking arm of Saudi National Bank in what could be the largest IPO in the kingdom since Aramco went public in 2019.... Continue Reading →
Revenues rise at Hotter as M&S partnership is agreed
Hotter launches on M&S.com today, initially offering 32 products and increasing to 75 available directly via M&S.com. Revenues have risen at footwear retailer Hotter as it agreed a partnership with Marks & Spencer to sell its products. In a trading update for the year ended 30 January 2022, its owner Unbound Group said Hotter sales were “significantly ahead” of last year... Continue Reading →
Dubai ruler steps in over retail empire’s inheritance dispute
Dubai’s ruler has appointed a judicial committee to resolve a family dispute among the heirs of the late Majid Al Futtaim, founder of one of the emirate’s largest private companies. Sheikh Mohammed bin Rashid Al Maktoum’s intervention is designed to oversee the transition of ownership of the Majid Al Futtaim (MAF) retail and leisure empire... Continue Reading →
Apple’s first new UK retail store in 8 years in the works
It’s been eight years since Apple unveiled its last retail in the United Kingdom. Now, it appears the company is readying another store in the region. As reported by Michael Steeber in his latest Tabletops newsletter, Apple has begun hiring for a brand new store in Greater London, which will be the first new store location in... Continue Reading →
Kohl’s adding 400 Sephora shops in 2022
Kohl's aims to add Sephora shops at 850 stores by 2023 Hundreds of Kohl's locations nationwide will be outfitted with a Sephora shop in 2022 as part of the ongoing partnership between the department store and cosmetics retailer. On Tuesday, Kohl's revealed a list of 400 additional stores in 36 states, from Alaska to Maine, that will have a... Continue Reading →
Mike Ashley-backed Studio Retail Group to file for administration
The online retail business, which was known as Findel until 2019, has now had its shares suspended on the London Stock Exchange as a result. Henry Saker-Clark1 day ago Studio Retail Group, which is backed by Mike Ashley, has said it will file for administration (Kirsty O’Connor/PA)(PA Wire) Studio Retail Group, which counts Mike Ashley’s... Continue Reading →
Leaked John Lewis memo reveals profit surge
John Lewis is considering reinstating its annual staff bonus after a leaked internal memo reveals it has smashed its £100m profit target. // The information raises hopes that the annual bonus for 80,000 staff could return this year Hopes are high that the John Lewis Partnership will reinstate its annual staff bonus after a leaked... Continue Reading →
Poundland opens biggest store
Poundland is gearing up for the opening of its largest ever store on Saturday morning. Retail Gazette visited the megastore in Nottingham’s Riverside Retail Park ahead of the grand opening to get a sneak peak of what’s on offer. From the largest selection of Pep&Co clothing and homeware to a dedicated Rimmel cosmetics display and hot... Continue Reading →
Pepkor expands to South America with acquisition of Brazil’s Avenida
JSE-listed Pepkor, which owns retail brands including Pep, Ackermans and Incredible Connection, has acquired Brazilian value retailer, Avenida, effective from 4 February 2022. Pepkor, which is Southern Africa's largest retailer by store footprint, plans to significantly grow Avenida's presence in Brazil. Representing less than 4% of Pepkor’s market capitalisation, the transaction enables Pepkor to partner... Continue Reading →
LEGO Group opens new store in Dubai
The LEGO Group is expanding its retailtainment concept with the opening of a new LEGO® Certified Store that is owned and operated by Majid Al Futtaim in The Dubai Mall. Located on the lower ground floor near the fountains, the new LEGO Certified Store opened its doors on 1 February and is the perfect destination for LEGO brick fans of all ages. The... Continue Reading →
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