LONDON, Nov 10 (Reuters) - Northern England supermarket chain Booths is to axe almost all of the self-service tills in its stores, saying the decision was in response to feedback from customers. The shift is the first by a UK grocer of a significant size, bucking a trend that has seen all of the major... Continue Reading →
Dis-Chem lost R5.21 billion since no-whites letter
Dis-Chem has lost R5.21 billion in value since its CEO Ivan Saltzman’s letter, which placed a moratorium on employing or promoting white people at the retailer, became public. Saltzman revealed to investors that many regular Dis-Chem dispensary customers withdrew their scripts after the memo banning hiring white employees was leaked. It was not all bad.... Continue Reading →
M&S embarks on biggest ever month-long store opening spree
M&S is making a big bet on bricks-and-mortar as it is set to open nine stores in November, the biggest number it has ever opened in a single month. The nine openings, which include six new shops and three store renewals, total a £80m investment from the retailer and will create more than 2,200 jobs will be... Continue Reading →
UK clothing retailer Next raises profit outlook again
LONDON, Nov 1 (Reuters) - British clothing retailer Next (NXT.L) on Wednesday raised its full-year profit outlook for the fourth time in six months as it reported better-than-expected sales in a third quarter heavily impacted by variable weather. The group, which trades from about 460 stores in the UK and Ireland and has an online presence in... Continue Reading →
UK supermarket Asda completes $2.5 bln purchase of EG’s UK business
LONDON, Oct 31 (Reuters) - Asda, Britain's third biggest supermarket group, said on Tuesday it has completed the acquisition of the majority of EG Group’s UK & Ireland business for an enterprise value of 2.07 billion pounds ($2.52 billion). EG Group, a petrol forecourt operator and retailer, and Asda are both owned by brothers Zuber... Continue Reading →
Private equity firm Aurelius swoops for The Body Shop
Private equity investor Aurelius Group is in talks to buy beauty products chain The Body Shop. The private equity firm that owns Lloyds Pharmacy is in talks to buy The Body Shop, according to reports. Aurelius Group is in negotiations to buy the British beauty products chain, which was put up for sale by its Brazilian owner,... Continue Reading →
M&S looks to elevate fashion offering as it sells Jaeger in 20 more UK stores
M&S is expanding the presence of its Jaeger brand by introducing it to an additional 20 stores across the UK. The retail giant acquired the luxury fashion brand back in 2021 following its collapse and it has since played a pivotal role in the retail stalwart’s campaign to revive its fashion sales. This is Money reports that Jaeger products, which... Continue Reading →
Struggling ASOS explores sale of Topshop brand
The online retailer is examining whether to dispose of what was one of the British high street's best-known fashion brands as part of its turnaround plan, Sky News learns. ASOS, the London-listed online fashion retailer, is exploring a sale of the Topshop brand it bought from the wreckage of Sir Philip Green's collapsed retail empire... Continue Reading →
Breaking: Former Aldi boss hired as Tesco UK CEO as Tarry stands down
Jason Tarry Tesco has hired former Aldi boss Matthew Barnes as its new UK chief executive as Jason Tarry steps down from the business after 33 years. Tarry, who has spent the last six years at the supermarket’s helm, will leave the grocer in March 2024. He is credited with leading Tesco through its turnaround... Continue Reading →
Tesco’s UK boss Jason Tarry to step down in March
LONDON, Oct 26 (Reuters) - Britain's largest retailer Tesco (TSCO.L) said on Thursday its UK Chief Executive Jason Tarry would step down in March next year after more than 33 years at the company, to be replaced by Matthew Barnes. Barnes was previously UK and Ireland CEO at German discounter Aldi, before becoming the co-head of parent... Continue Reading →
Ulta expands wellness spaces to more than 1,300 stores
A shelf of wellness products at Ulta. The beauty retailer is expanding "The Wellness Shop" spaces to more stores across the U.S. Courtesy of Ulta Beauty The beauty retailer, which is also expanding its assortment and emphasizing a “spa-like” atmosphere, is poised to do well at the holidays, analysts said. Dive Brief: Ulta Beauty this week... Continue Reading →
Mia by Tanishq Opens In The UAE
Mia by Tanishq, a fine jewellery brand from the Tata Group, recently opened its first international store in Dubai, United Arab Emirates (UAE), adding to its footprint of 120+ stores across India. The centrally located flagship boutique at BurJuman will house a stunning collection of trendy, popular and contemporary designs uniquely crafted in gold, diamond... Continue Reading →
Here’s the full list of Clarks stores that are closing for good
Photograph: William Barton / Shutterstock.com The footwear chain is pulling the shutters down on several outlets over the coming months From new openings by favourite brands like Aldi and Asda to store closures by Wilko, Next and Boots, recent months have seen massive movements in the UK retail industry. To add to the pile of brand store closures this year, another high street stronghold has announced a... Continue Reading →
Sportswear brand On to open second UK store
On is set to open its second UK store next week in London’s Spitalfields almost one year after it unveiled its first. The 310sq m outlet, located at 37 Bushfield Street, will offer the running retailer’s range of footwear, apparel and accessories. Opening on November 3, the shop will also serve as a hub for community activities... Continue Reading →
De Beers Brands to welcome new chief executive
De Beers Group has hired Sandrine Conseiller as the chief executive of De Beers Brands. In her new position, she will oversee the development of De… FASHION RETAIL NEWS UK De Beers Group has hired Sandrine Conseiller as the chief executive of De Beers Brands. In her new position, she will oversee the development of... Continue Reading →
Sephora reveals opening date for second UK store
Sephora has confirmed that its second physical store in the UK will open on November 15 in London’s Westfield Stratford City. The new outlet will stock products and personal services from over 125 brands across fragrance, haircare, makeup, skincare and wellness. This includes several new and exclusive brands, including Adwoa Beauty, Relevant, STRAAND, Salt &... Continue Reading →
UK’s Dunelm posts 9% rise in first-quarter sales
Oct 19 (Reuters) - British homewares retailer Dunelm Group (DNLM.L) on Thursday said its first-quarter sales rose 9% as customers spruced up their homes with new curtains, bedding and home decorations despite a cost-of-living crisis. Major British retailers have benefited from robust consumer spending despite high inflation and rising borrowing costs, with companies like Dunelm keeping prices... Continue Reading →
Walgreens Boots Alliance (WBA) has suffered a loss of $3.1 billion
Walgreens Boots Alliance (WBA) has suffered a loss of $3.1 billion this fiscal year, despite a “strong” last quarter for Boots UK, it has revealed. Boots’ parent company WBA yesterday (October 12) reported the results for the fourth quarter of its financial year, representing the three months to August 31. It revealed that the company withstood... Continue Reading →
Frasers expands stake in Boohoo to 15.1 per cent
Billionaire Mike Ashley’s Frasers Group has further increased its stake in online fast fashion retailer Boohoo Group. The move sees Frasers’ ownership in Boohoo rise from 13.4 per cent to 15.1 per cent. This development follows a series of strategic investments made by Frasers Group, the parent company of Sports Direct, Flannels, and House of... Continue Reading →
Ted Baker owner steps in amid funding woes
Ted Baker owner Authentic Brands has stepped in after the company it appointed to run its UK operations has struggled to raise financing. Last year, the group paid £ 211 million for the fashion retailer’s name and intellectual property, and it has outsourced its global operations to more than 20 other companies. According to The... Continue Reading →
Netflix to open branded retail stores for some reason
There will be dining, live events and even a Squid Game obstacle course. Unsplash/Venti Views Netflix used to make its money on physical media, mailing DVDs to customers, and it looks like the company’s trending toward the analog once again. The streaming giant has, strangely, decided to open a number of brick-and-mortar retail locations, called... Continue Reading →
Ikea’s full-year sales rise as more customers shop for the home
Ikea UK sales have jumped 11.9% to £2.46bn in its 2023 financial year, boosted by more customers shopping for the home amid the ongoing cost-of-living crisis. Tolga Öncü, retail manager at Ikea operator Ingka Group told Retail Gazette that shoppers were purchasing more practical homeware products. “Storage across the home has been really a high... Continue Reading →
Uniqlo owner Fast Retailing sees 18% rise in annual profit, plans more stores in China
TOKYO, Oct 12 (Reuters) - Fast Retailing Co (9983.T), owner of clothing brand Uniqlo, forecast 18% growth in annual profit on Thursday, as it plans to expand in key markets including China, anticipating that the rising cost of living will make shoppers more price conscious. Fast Retailing, known for its fleece jackets and inexpensive basics,... Continue Reading →
Selfridges reports reduced losses amidst sales surge
Selfridges Retail Limited has revealed a marked improvement in its financials, indicating a narrowing of losses and a surge in sales, according to the company’s latest filings for the year ending January. The retail giant, which operates four stores in the UK along with an online platform, reported a substantial 29 per cent increase in... Continue Reading →
River Island profits plunge despite high turnover
Image Courtesy: https://lovesugarscience.com/ River Island, the clothes retailer, had profits fall by 90 per cent in 2022, and with headwinds still plaguing the industry, the owners will be hopeful that the return of chief executive officer Richard Bradbury will aid in the company’s recovery this year. Operating earnings fell from £ 73.5 million in 2021... Continue Reading →
Lifestyle brand FatFace set to be taken over by Next
FTSE 100 fashion chain has been buying up rivals since pandemic and could reach deal by end of week The clothing brand FatFace is poised to become the latest high street fashion retailer to be taken over by Next, in a deal thought to be worth more than £100m. FatFace, which sells clothes, footwear and accessories,... Continue Reading →
What retailers need to know about 2024 (and beyond) in 5 charts
As ecommerce growth returns to pre-pandemic levels, it will continue to drive total retail sales over the next few years. Retailers looking to drive sales need to focus on a seamless omnichannel experience and use deals to convince consumers to spend. Meanwhile, retail media’s growth shows no signs of slowing, but advertisers and retailers must... Continue Reading →
Boots closing 5 more UK stores this month as part of planned 300
<img src="https://s.yimg.com/ny/api/res/1.2/sppKXNL16ierWfdqTnfC1A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--/https://media.zenfs.com/en/news_shopper_960/fd4a5bbd274fcb391f9b936c78aff63c" alt="Boots have already closed 10 stores across the UK in recent months including in London and Greater Manchester. <i>(Image: PA)Boots have already closed 10 stores across the UK in recent months including in London and Greater Manchester. (Image: PA) Boots are set to close another five stores by the end of October as part... Continue Reading →
S.African grocer Pick N Pay shares sink 15% on CEO exit, loss estimate
JOHANNESBURG, Oct 2 (Reuters) - South African grocery retailer Pick n Pay's (PIKJ.J)shares tumbled almost 15% on Monday after its CEO stepped down and the company said it would post an interim loss. The exit of its CEO Pieter Boone comes as the retailer has been struggling to retain market share that it lost to bigger... Continue Reading →
Next is closing 11 stores in the UK by the end of 2023
Photograph: Roger Utting / Shutterstock.com The beloved clothing giant is shutting several ‘mainline stores’ For years, high-street fashion store Next has been a British stronghold for affordable children’s fashion, printed blouses and massive sales that last almost all year round. Since the pandemic, it has successfully pivoted its business online, even becoming the UK’s biggest internet... Continue Reading →
Abu Dhabi sovereign-wealth fund invests nearly $600M in Reliance Retail at $100B valuation
Abu Dhabi Investment Authority is investing $597 million in Reliance Retail, valuing the largest Indian retail chain at a whopping $100 billion. The investment follows KKR and Qatar Investment Authority together investing $1.7 billion in the Indian firm, which is part of Mukesh Ambani’s Reliance Industries. Abu Dhabi sovereign-wealth fund’s investment will fetch it a 0.59%... Continue Reading →
Superdry will sell its intellectual property assets to Reliance Retail for $48.27 million
Reliance Retail and UK's Superdry announces JV UK's struggling fashion retailer Superdry has announced a joint venture with Mukesh Ambani's Reliance Retail. Superdry will sell its intellectual property assets to Reliance Retail for $48.27 million, Reuters news agency reported. With this deal, Superdry and Reliance Retail, whose more than 18,000 stores, will own 24% and... Continue Reading →
John Lewis chair Sharon White to step down in 2025
LONDON, Oct 2 (Reuters) - Sharon White, the chair of struggling British retailer the John Lewis Partnership, will step down early in 2025, having decided not to seek a second term of office, the company said on Monday, weeks after it warned its turnaround plan would need more time. White warned last month that her... Continue Reading →
Toys R Us to open up to 24 US flagship stores
A rendering of a new flagshp Toys R Us storefront. The company's owner, WHP Global, said this week that it plans to open up to 24 new stores in the U.S. next year while maintaining its store in store partnership with Macy's. Permission granted by WHP Global Parent company WHP Global announced a partnership with Go... Continue Reading →
Boots announce closures of UK stores starting next week – full list
Boots is one of many retailers closing high street stores this year (Image: Peter Harbour) The high street retailer and chemist has revealed that 300 shops nationwide will be closing in the latest blow for our high streets Two North East Boots stores will be closing their doors for good after the high street favourite announced... Continue Reading →
H&M’s net sales grows 8% in first nine months
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 to open four new stores across UK ahead of Christmas
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 →
UK fashion retailer ASOS expects profit at low end of guidance as overhaul falters
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 to open 25 stores next year as it expands UK footprint
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 to invest £1.4bn in expansion spree as profits triple
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 →
Tim Hortons unveils new franchise model to fuel UK expansion
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 →
Waterstones backer Elliott among suitors for The Body Shop
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 expands footprint with three new UK stores following rebranding
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 →
John Lewis partnership turnaround to take 2 more years after half year loss
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 →
Dubai’s Mall of the Emirates reveals new logo change after 10 years
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 →
South Africa’s TFG Sees Retail Turnover Growth Of 11.3% In Six Months
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 →
The Range to acquire brand of UK retailer Wilko
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 invests $250 million in Reliance Retail at $100 billion valuation
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 in talks to sell £2.5bn petrol forecourts business
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 half-year losses set to narrow
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 →