Category Archives: Retail industry

B&Q owner issues another profit warning after weak sales in France

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UK business lifted by ‘improve not move’ trend and interior design videos on TikTok

The owner of B&Q and Screwfix issued its second profit warning in three months after weak sales in France but said its UK business is being boosted by the “improve not move” trend and interior design videos on TikTok.

Kingfisher, which also owns Castorama and Brico Dépôt in France and operates in Poland, Iberia and Romania, too, reported an almost 4% sales decline in its financial third quarter, prompting a downgrade in its annual profit forecast from £590m to £560m.

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Co-op and Aldi champagnes beat Veuve Clicquot in Which? taste test

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Top-scoring supermarket fizz costs less than half of the price of its prestigious competitor

Money might be tight this Christmas but there is good news for champagne lovers after much cheaper supermarket own brands fared better than the prestigious French label Veuve Clicquot in a quaff test.

The Co-op’s Les Pionniers champagne received the top score of 85% in a blind taste test conducted by Which? with the £22.75-a-bottle bubbly wowing the panel with its “smoky notes” and “smooth creaminess”.

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Bangladesh garment workers fighting for pay face brutal violence and threats

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Workers describe hands and arms being targeted in ‘merciless’ beatings as protests over low wages turn increasingly violent in Dhaka

When Masuma Akhtar arrived at the garment factory where she works on the outskirts of Dhaka on 31 October, she was expecting a normal shift. Instead, she was met with brute violence. “The moment I walked through the factory gates, a group of armed men began beating me with wooden sticks,” says Akhtar. “I fell down on to the ground. Even then they wouldn’t stop beating me.”

Akhtar, 22, is a seamstress at Dekko Knitwears in Mirpur, where she spends long days churning out clothes for western fashion brands, including Marks & Spencer, C&A and PVH Corp, which owns Tommy Hilfiger and Calvin Klein.

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Selfridges comes under full control of Thailand’s Central Group

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Announcement after Central’s Austrian partner Signa Group was placed in hands of restructuring expert

Thailand’s largest department store owner, Central Group, has announced it has taken control of Selfridges department stores.

Central Group and Rene Benko’s Austrian real estate company Signa Group bought Selfridges in 2021 in a deal worth $5bn.

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How M&S regained its place as UK’s top womenswear retailer

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Four years after it fell out of the FTSE 100 the high street brand is again boasting strong sales

Fours years after it fell out of the FTSE 100, M&S has turned around its fortunes to become the UK’s best retailer for women’s wear.

In May, strong sales figures were driven not only by bog-standard basics such as underwear and T-shirts, but by more fashion-forward categories, too. Now, sales of women’s party wear are up 49%, and knitwear up 23% in October compared with last year.

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AI Pictionary and a ‘robo-dog’ make UK shops’ hottest Christmas toy lists

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Retailers hope new version of top-selling board game plus Dog-E will help fuel festive sales recovery

A new version of Pictionary that pits artist against artificial intelligence and a pet “robo-dog” with a wagging tail are among the toys destined to appear on Christmas lists this year as retailers pray for better sales during the key festive trading period.

With the cost of living crisis looming large over another year’s celebrations, the Toy Retailers Association’s annual DreamToys list of the 20 “hottest” gifts includes a dozen that are under £50. Among them is Pictionary vs AI (£24), a new version of the classic board game that pitches (terrible) human sketches against the might of AI processing power.

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UK recession fears grow as shoppers cut spending ‘to save for Christmas’

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Drop in retail sales also because of consumer worries over high energy bills and mortgages, surveys suggest

Fears that the UK is heading for a recession this winter have intensified amid signs Britain’s hard-pressed households are cutting spending as they save for Christmas and higher fuel bills.

Two monthly snapshots of retail activity found shops and online outlets struggling because of consumer budgets being squeezed by dearer mortgages and the UK’s lingering cost of living crisis.

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Asos expects sales slump to continue as it is hit by near £300m loss

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Shares plunge after analysts say online fashion retailer may need to raise more cash, possibly through sale of Topshop brand

Asos has warned sales will continue to fall in the year ahead – by much as 15% – after delayed results revealed a near £300m annual loss.

Shares fell almost 10% on Wednesday to 34p after analysts expressed fears that the online fashion retailer would need to raise new cash – potentially through the sale of its Topshop brand – with net debt including leases now at £648.5m, up from £533m a year before.

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Next upgrades profit forecast again as cool weather helps sales

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Retailer expects to make £10m more profit than previously predicted, taking full-year target to £885m

Next has upgraded annual profit expectations for the fourth time in five months after the arrival of cooler weather in late October helped bolster sales.

The retailer said it now expected to make £10m more profit than previously forecast, taking its full-year target to £885m, after full-price sales rose by 4% in the three months to the end of October – double the pace of growth anticipated.

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Pineapple loses its crown: Sainsbury’s sells leafless version to cut waste

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Removing leaves will mean they can be replanted or shredded for animal feed and could reduce emissions

The pineapple has been dethroned: Sainsbury’s has announced it will start selling a crownless version of the tropical fruit from Wednesday.

The spiky, green leaves that grow from the top of the plant are a unique feature of the exotic fruit. But, says the supermarket, they are typically thrown away by customers, contributing to up to 700 tonnes of food waste a year.

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Aurelius Group in talks to buy the Body Shop, says report

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Banking sources say a deal for the beauty products chain is expected to be signed next month

The private equity investor Aurelius Group is in talks to buy the beauty products chain the Body Shop, which has been put up for sale by its Brazilian owner, Natura & Co, a source familiar with the talks has told Reuters.

If completed, the deal is expected to value the Body Shop at a lower price than the £400m-£500m suggested in some media reports, the source said.

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‘Organised gangs’ are shoplifting to order in UK, John Lewis boss says

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Groups of thieves are targeting high-value items such as bottles of spirits, warns the retail group chair Sharon White

John Lewis chair Sharon White has raised fears for the safety of its store workers amid a rise of “organised gangs” of shoplifters who are targeting high-value items such as bottles of spirits.

White, the head of the department store group which also owns Waitrose supermarkets, said it was “not an exaggeration” to describe the change as an epidemic.

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EE to start selling smart TVs, fridges and kettles in move beyond mobile roots

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BT-owned company to take on brands such as Amazon, Currys and Argos with move into e-commerce

The BT-owned EE is to sell smart TVs, fridges, kettles and fitness products as it looks to move beyond its roots in smartphones and enter an e-commerce market dominated by brands such as Amazon, Currys and Argos.

The mobile operator, which has 25 million subscribers, is seeking to use tactics developed selling telecoms products and services to retail products in categories such as smart home security, insurance and games consoles to all UK consumers.

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Waitrose in talks with Amazon over online grocery deal, says report

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Supermarket said to be considering third-party deal after share of UK market falls

Waitrose is reportedly in talks with Amazon to sell groceries via the internet marketplace, in an attempt to lure in more shoppers and claw back market share.

The Sunday Telegraph reported that the upmarket supermarket, part of the John Lewis Partnership, and Amazon were discussing a third-party deal, after the world’s biggest online retailer struck a similar agreement with the supermarket Iceland recently.

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Sandwich price shocks but meal deal costs rise less than average food inflation

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Pret a Manger’s ‘posh’ cheese and pickle sandwich grabbed headlines for its £7.15 price tag, but it’s not all gloom

It’s not often that a cheese and pickle sandwich turns heads, but this week Pret a Manger’s “posh” version grabbed headlines after a tweet decrying its £7.15 price tag went viral.

Although that included VAT for eating in, the social media post shone a spotlight on the rising cost of lunch on the go, as the soaring cost of ingredients has been passed on to consumers.

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Asos cuts profit forecast after wet summer hit sales

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Online fashion retailer says it has reduced its stock levels by 30% amid fall in customer numbers

The online fashion retailer Asos said sales in July and August were hit by wet weather, prompting it to cut its estimate for annual profits.

Asos said the poor weather compounded weaker online demand for clothing. Total sales declined by 15% in the quarter to 3 September, with the UK down 16%. The sales washout resulted in a £60m hit to cashflow. July was the wettest such month in England since 2009.

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Carrefour puts ‘shrinkflation’ price warnings on food to shame brands

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French supermarket chain labels products that have shrunk in size but cost more before contract talks with suppliers

The French supermarket chain Carrefour has put labels on its shelves this week warning shoppers of “shrinkflation”, the phenomenon where manufacturers reduce pack sizes rather than increase prices.

It has slapped price warnings on products from Lindt chocolates to Lipton iced tea to pressure top consumer goods suppliers Nestlé, PepsiCo and Unilever to tackle the issue in advance of much-anticipated contract talks.

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Poundland moves to buy 71 Wilko sites with possible jobs guarantee for staff

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PwC says owner plans to reopen stores under Poundland brand throwing lifeline to as many as 1,800 staff

Poundland is to acquire up to 71 Wilko sites that it intends to reopen under its own brand in a deal that could throw a lifeline to some of the about 1,800 staff who will lose their jobs at the stricken retailer.

Under the deal struck by administrators PricewaterhouseCoopers (PwC) with Poundland’s parent company Pepco, the sites will be acquired only after all 408 Wilko stores are shut and more than 12,000 staff made redundant.

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Costa Coffee recalls sandwiches and wraps amid fears they contain stones

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Retailer warns there may be ‘small stones’ in four products from its range and urges customers to return them for refund

Costa Coffee has recalled some of its range of sandwiches and wraps after it emerged that they could contain small stones.

The chain warned customers that four of its products could be affected, and that they could pose a choking hazard if they were eaten.

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Retailers look on sunny side as holidaymakers splash out

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Sales of health and beauty products help high street stores bounce back after a disappointing start to the summer

Britain’s retailers have received a boost from consumers making themselves beach-ready by increasing their spending on skincare and makeup before their summer holidays, despite the cost of living crisis.

The British Retail Consortium (BRC) said sales of health and beauty products helped drive up spending on the high street as shoppers made the most of brief spells of sunshine in August, although squeezed consumers were holding back elsewhere.

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