The retailer’s gross profit was Skr87.23bn in the year to date. H&M net sales increased by 6% in the third quarter of the current fiscal year. Credit: ajay_suresh/ Flickr (Creative Commons). Sweden-based clothing retailer H&M has delivered Skr173.38bn ($15.70bn) in net sales in the first nine months of the fiscal. This is an increase of 8% compared with... Continue Reading →

The Range is opening the doors to four new stores in just a few weeks (Image: Coventry Live/Tristan Potter) The homeware and garden retailer is expanding in time for the festive period The Range has announced the opening of four new stores across England in time for Christmas, including one in Greater Manchester.  The home, garden... Continue Reading →

LONDON, Sept 26 (Reuters) - British online fashion retailer ASOS (ASOS.L) reported a 15% fall in fourth quarter sales and forecast earnings around the bottom of its guided range but said it was making progress with its turnaround plan. The group, led by CEO José Antonio Ramos Calamonte, announced an overhaul of its business model last October after the... Continue Reading →

Rituals will be opening 25 stores next year and 10 new stores before the end of 2023 as it targets rapid expansion in the UK and Ireland, Retail Week can reveal. The beauty and lifestyle brand made its debut in the UK in 2007 and presently has 68 stores in the UK and Ireland region, with... Continue Reading →

Aldi will invest £1.4bn over the next two years to support its expansion spree across the UK. It comes as the German discounterreported its operating profit had skyrocketed 196% to £178.7m in the 12 months to December 2022, up from £60.2m the year before. Sales over the period hit a 33-year high, surging 14% to £15.5bn,... Continue Reading →

Canadian restaurant chain Tim Hortons has announced the launch of a new franchise model in the UK. The coffeehouse is planning significant expansion of its UK estate and called its franchise model a “core pillar of growth”. The franchise model will help the brandincrease its current portfolio of 75 UK restaurants by launching in new towns and cities nationwide.... Continue Reading →

Elliott Advisors is among the parties which submitted indicative offers for the British cosmetics chain in recent weeks, Sky News understands. The owner of Waterstones is among a pack of bidders circling The Body Shop after its Brazilian owner hoisted a for sale sign above the cosmetics retailer. Sky News has learnt that Elliott Advisors,... Continue Reading →

Moss is accelerating its retail expansion by opening three new stores across the UK with 2,769 sq.ft. store in Canterbury opening on 14th September, followed by the inauguration of a 2,479 sq.ft. store in East London, and a 2,247 sq.ft., in Cheltenham opening on 18th and 28th September respectively. These openings are followed after Moss’s... Continue Reading →

Image Courtesy: https://www.theindustry.fashion/ The John Lewis Partnership has said its five-year transformation plan launched in 2020 will take two years longer than planned as it posted another half-year loss. Nevertheless, for the six months ending on 29th July, the firm, which owns the department store brand and the supermarket division of Waitrose, saw pre-tax losses... Continue Reading →

Mall of the Emirates has embraced a new logo, brand identity. Image: Supplied Dubai’s Mall of the Emirates has changed its logo and taken on a new brand identity, 10 years after its previous rebranding.  Owned by Majid Al Futtaim, Mall of the Emirates first opened in 2005, and is home to over 630 retail brands, spanning 233,467... Continue Reading →

TFG Africa has recorded retail turnover growth of 16.1 per cent (9.7 per cent excluding Tapestry) and like-for-like retail turnover growth of 3.3 per cent. Cash retail turnover growth for TFG Africa of 21.8 per cent. Cash retail turnover now contributes 73.4 per cent to total TFG Africa retail turnover and 82 per cent to... Continue Reading →

LONDON, Sept 14 (Reuters) - Homeware chain The Range has agreed to buy the brand, website and intellectual property of failed British retailer Wilko, its administrators PwC said on Thursday, days after Poundland said it would buy up to 71 of its stores. "This sale to The Range will ensure that the Wilko name lives on under their... Continue Reading →

KKR is doubling down on its bet in Reliance Retail, valuing India’s largest retail chain at $100 billion in a fresh $250 million investment. The deal follows the Qatar Investment Authority investing $1 billion in Mukesh Ambani’s retail empire just last month. The New York-headquartered private equity firm KKR invested about $755 million in Reliance Retail in... Continue Reading →

Morrisons is in talks to sell its petrol forecourts business to Motor Fuel Group (MFG), which is also owned by private equity firm CD&R. A deal could come in the next month or two for Morrisons’ 340 forecourts, which Sky News reported could be worth around £2.5bn. CD&R had flagged the “potentialopportunity for a commercial operational partnership... Continue Reading →

John Lewis Partnership is set to report another loss this week at its half-year results, its first under the helm of new chief executive Nish Kankiwala. However, losses are expected to come in lower than the £99m shortfall posted a year previously, according to The Mail on Sunday. It is not unusual for John Lewis to make... Continue Reading →

The branch of New Look in Bromsgrove high street has closed its doors for goodCredit: Getty A HIGH street fashion retailer with 400 stores has closed another outlet today. New Look has pulled down the shutters on one of its sites following a string of closures. Its shop in Bromsgrove high street, Worcestershire, has closed its doors for... Continue Reading →

JOHANNESBURG, Sept 7 (Reuters) - Raymond Ackerman, who founded Pick n Pay (PIKJ.J) from just four stores 56 years ago and turned them into one of South Africa's leading grocery retailers, has died aged 92, the company said on Thursday. The cause of his death was not disclosed in an emailed statement. "It is with profound sadness... Continue Reading →

Lingerie and pleasure retailer Ann Summers said its turnover reached over £100m in the year ending June 2022, as it revealed plans to open more stores…  FASHION RETAIL NEWS UK Lingerie and pleasure retailer Ann Summers said its turnover reached over £100m in the year ending June 2022, as it revealed plans to open more... Continue Reading →

Staff at Tesco stores are to be offered body cameras amid a rise in violent attacks, the supermarket's chief executive has said.  The company has seen physical assaults increase by a third since last year. It mirrors findings by the British Retail Consortium (BRC) published earlier this year, which found abuse against retail staff had... Continue Reading →

Footasylum pre-tax profit plummeted 75% to £2.8m in its last financial year, despite an increase in sales at the retailer. Operating profit also dropped more than 50% for the full year to 28 January 2023. The footwear retailer partially attributed the plunge to the termination of Covid government reliefs that helped the retailer last year. Despite the drop, gross... Continue Reading →

The fashion retailer faces “continued challenges in the macro enviroment”ALAMY Superdry has warned of a “material uncertainty” over its future after it reported a £148.1 million loss. The fashion retailer, which this week suspended trading of its shares as auditors completed the final “technical points” of its annual accounts, disclosed the warning in its financial results for... Continue Reading →

Only Scotland saw a YoY rise in footfall with growth of 0.4% over the month. Footfall in shopping centres dropped by 3.8% YoY in August. Credit: PublicDomainPictures from Pixabay. Total retail footfall in the UK dropped by 1.6% last month on a year-on-year (YoY) basis, according to data from the British Retail Consortium (BRC) and Sensormatic... Continue Reading →

Britain’s Next agreed on a deal to raise its stake in upmarket fashion chain Reiss Group. (Shutterstock) Britain’s Next agreed on a deal to raise its stake in upmarket fashion chain Reiss Group to 72 percent from 51 percent, after the retailer teamed up with the Reiss family to buy Warburg Pincus’s shares for £128 million... Continue Reading →