Morrisons to sell £600m of fisheries and food factories

Sales at Morrisons slumped 9.5 per cent in the 12 weeks to May 15NATHAN STIRK/GETTY IMAGES The private equity owners of Morrisons are sounding out buyers for a portfolio of its warehouses, fisheries and food manufacturing plants that is expected to fetch more than £600 million. Clayton Dubilier & Rice (CD&R) is marketing the assets... Continue Reading →

In pictures: Inside Asos’ first-ever physical stores in Nordstrom

Asos has created its first stores within Nordstrom in the US Online fashion giant Asos has launched its first in-store collection with Nordstrom, marking its first bricks-and-mortar presence anywhere in the world. Asos ranges will initially be available in 10 Nordstrom stores including in Los Angeles, New York, Dallas and Chicago, and on the US... Continue Reading →

S.African retailer Mr Price annual earnings jump on rebound from COVID lows

JOHANNESBURG (Reuters) -South African retailer Mr Price Group Ltd posted a 20.1% jump in full-year earnings on Thursday, as consumers coming out of the COVID-19 lockdowns revamped their wardrobes and homes, with acquisitions adding a boost. The largely budget clothing and homeware retailer has benefited from its lower-price model, which continues to attract financially constrained... Continue Reading →

Dubai’s Retail Giant Majid Al Futtaim Accepts Crypto at 29 Shopping Malls and 13 Hotels in Partnership With Binance

Leading shopping mall operator Majid Al Futtaim has partnered with Binance to accept cryptocurrencies at its malls and other properties. “Majid Al Futtaim is one of the most prestigious businesses in the Middle East and has millions of customers every year,” said the CEO of Binance. Majid Al Futtaim, a leading operator of shopping malls,... Continue Reading →

Funding boost for UK’s franchising sector

HSBC launch their latest significant financial support for the country’s SMEs. HSBC’s ongoing support for the UK franchising industry has been further boosted by the news that the global banking giant has made available an extra £500m of funding for businesses across the country. Since launching their UK SME Fund in 2014, HSBC has loaned... Continue Reading →

Mike Ashley’s Frasers Group buys Missguided for £20m

Frasers Group has bought Missguided // Frasers Group has bought Missguided out of administration for £20m // The Sports Direct-owner will operate Missguided as a separate business Frasers Group has bought Missguided out of administration for £20million, beating off competition from Boohoo. The retail group has also bought Missguided owned menswear site Mennace. It plans to operate... Continue Reading →

Family-owned fragrances retailer Bodycare plots sale

The nationwide retailer founded on a Lancashire market stall in 1970 has hired Interpath Advisory to court potential buyers, Sky News understands. A family-owned fragrances retailer founded on a Lancashire market stall more than half a century ago has appointed advisers to explore a sale. Sky News understands that Bodycare, which trades from more than 100... Continue Reading →

The Good Ship M&S Never Had It Better

Good times.Photographer: ADRIAN DENNIS/AFP Andrea Felsted25 May 2022, 10:59 BST Britain’s retail stalwart emerged from Covid in excellent shape. Unfortunately, the good times are coming to an end. “Never the same again” was the name Marks & Spencer Group Plc gave to its effort to transform in the wake of Covid-19. But perhaps “Never had it so good”... Continue Reading →

The Very Group revives £4bn IPO plans

The Very Group called off an IPO last year due to stock market volatility // The Very Group owners, the Barclay family, is targeting floating the business in mid-2023 // The online retail group had been gearing up to an IPO last year but called off plans amid growing volatility over tech stock The Very Group... Continue Reading →

Google opens second retail store

By Tatiana Walk-Morris Courtesy of Google Dive Brief: Google on Wednesday announced it is opening a retail store in Williamsburg, Brooklyn, as the first of its upcoming neighborhood stores that pay homage to their surrounding communities, according to a press release. It is the company’s second store in New York City, following the opening of a flagship store in... Continue Reading → acquires online marketplace Trouva has acquired online platform Trouva in an effort to grow its marketplace business. Trouva’s is a sales platform for independent boutiques and brands, and provides customers with a curated range of homewares, lifestyle and fashion products. The marketplace will continue to operate as a standalone brand led by the current leadership team of chief... Continue Reading →

Clicks retail sales rise as it grows market share

PHARMACY, health and beauty retailer Clicks said yesterday that its interim retail sales increased 13.6 percent, bolstered by market share gain and a robust expansion of its stores and pharmacy network. The company said its clubcard membership grew and accounted for 81 percent of the group’s sales in the six months. In an interview, Clicks... Continue Reading →

Apple’s Second Retail Store Is Unionizing

This is the third US Apple Retail store to seek unionization. An Apple retail store located in the Towson Town Center Mall in Maryland announced today that it has filed for a union election. In a press release, International Association of Machinists and Aerospace Workers (IAMAW) organizer Dave DiMaria announced that the employees at the Maryland-based... Continue Reading →

J.C. Penney is reinventing itself. Again.

Daphne Howland/Retail Dive If there’s one thing that’s become predictable at J.C. Penney in the last decade or so, it’s constant change. The company has had five chief executives in that time, each with their own ideas about how to turn over its steadily declining fortunes. That included efforts like restoring and then again ending appliance sales,... Continue Reading →

In pictures: Deichmann’s new UK warehouse

Footwear retailer Deichmann has opened its new 165,000 sq ft warehouse in Corby, Northamptonshire. The £3m Deichmann warehouse will create 50 new jobs in the area and supports Deichmann’s ongoing growth, further improving service levels across the business, it said. Corby was chosen as the site for the brand’s new UK distribution facility as a... Continue Reading →

Meta to open first physical retail shop for virtual reality products

Social media brand Meta, formerly the Facebook Company, is opening its first permanent Meta Store for customers to purchase its virtual reality products as a "gateway to the metaverse". The 1,550-square-foot shop will open on 9 May in Burlingame, California, near the company's Reality Labs campus – a research and development hub for virtual reality products. Meta Store is the social... Continue Reading →

Meta is opening its first retail store next month

Meta is launching its first hardware retail store on its campus in Burlingame, California. The store, which opens May 9th, will let visitors try out and buy Meta’s Portal videophones and Quest virtual reality headsets. They’ll also be able to demo the Ray-Ban Stories smart glasses that debuted last year and get help ordering them online. Meta’s store... Continue Reading →

Banana Republic to close UK website

Banana Republic has announced it is closing its UK website on the 31 May. Banana Republic had nine stores across the UK, but made the decision to close them all in 2016 due to falling sales. While its high street presence ended, Banana Republic continued to be available online via its own website in the UK.... Continue Reading →

Retailers that have gone online-only

Going online-only is a big risk retailers have been willing to take after the Covid-19 pandemic presented a set of challenges. While some retailers decided to accelerate their online offerings via click-and-collect and rapid home deliveries, others saw their business collapse. TM Lewin recently secured a rescue deal and will be relaunching as an online brandbut... Continue Reading →

Walgreens set to lose billions on Boots sale

Boots trades from more than 2000 stores and employs over 50,000 people // Walgreens risks shedding billions after the one-time favourite to purchase Boots valued the retailer at a steep low cost The American owner of Boots could risk losing billions after the chemist and health and beauty retailer was valued at a steep discount. Walgreens has... Continue Reading →

Next opens first department store

Next opened its first department store in Watford this week // Next opens new department store in Watford that brings together its fashion, home and beauty offer for the first time // The store spreads across three floors and is more than 94,000 sq ft Next has opened a new department store which combines the brand’s home,... Continue Reading →

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