Currys has rejected a takeover approach by Waterstones owner Elliott, which it claims “significantly undervalued the company”. It emerged on Friday that the retailer received what it termed an “unsolicited, preliminary and conditional proposal” from Elliott. However, Currys said the offer “significantly undervalued the company and its future prospects” and its board unanimously rejected the approach. The... Continue Reading →

Is your local Primarni store getting a glow-up? Photograph: Konmac / Shutterstock.com Is your local Primarni store getting a glow-up? Primark is making big moves right now. While concerns over sustainability and the climate are on the up, the fast fashion chain remains a favourite among high street shoppers. So much so that it has revealed... Continue Reading →

The Body Shop at Westwood Cross The owner of The Body Shop is reportedly preparing to appoint administrators for its UK holdings. Aurelius bought The Body Shop International Limited in a £207m deal announced last November and completed at the beginning of this year. But now, as first reported by Sky, the firm is understood... Continue Reading →

British fashion retailer Primark is planning to invest more than £100m ($126.14m) in UK retail this year with new store openings lined up in England and Scotland.  Along with opening new stores, Primark will also refurbish 15 existing stores this year as part of its ongoing refit programme, with more stores to follow. Credit: Photograph... Continue Reading →

Amazon full-year profits have tripled thanks to the online giant’s “continued invention and customer experience improvements” across the business. Profit skyrocketed to £28.92bn for the year to 31 December, up from £9.56bn the year prior. Sales jumped 12% to £450.6bn, up from £402.9bn the year before. It comes as the the online retail giant celebrated... Continue Reading →

January 29, 20249:19 AM GMTUpdated 3 days ago JOHANNESBURG, Jan 29 (Reuters) - South African fashion retailer Truworths (TRUJ.J) on Monday warned that half-year profit growth had slowed after financially constrained shoppers held back from discretionary spending. Truworths said retail sales in South Africa - its biggest market - were hit by poor economic conditions and high... Continue Reading →

The landscape of the British high street has shapeshifted over the years, with shopping and spending habits changing after the Covid pandemic and later, the cost of living crisis.  Health and beauty retailer Boots has been hit with store closures which will affect customers throughout 2024. The retailer has announced plans to drop from around... Continue Reading →

Dive Brief: Shaun Wills, CFO of U.K. retailer Superdry, will step down from his position at the company effective March 31, according to a Friday announcement, the fourth finance chief to depart from the troubled retailer in five years. The Cheltenham, England-based company appointed retail veteran Giles David, who was most recently worked at convenience store operator... Continue Reading →

Jan 27 (Reuters) - John Lewis Partnership, the owner of John Lewis and Waitrose, is considering cutting up to 11,000 staff jobs in the next five years, the Guardian reported on Saturday. A minimum of 10% of the staff-owned business's workforce could be affected across the group's head office, supermarkets and department stores, the report... Continue Reading →

Macy’s has fended off several takeover bids from activist investors and a competitor in recent years. Erik Pendzich/Shutterstock Private-equity giant Sycamore Partners is exploring a possible bid to buy Macy’s – even as the iconic retail chain this week rejected an unsolicited offer from another bidding group, The Post has learned. Sycamore — a prolific buyout... Continue Reading →

M&S has revealed that the excellent sales momentum it had been experiencing for the majority of 2023 continued in the third quarter, which covered the 13 weeks ending on 30th December. Overall, it stated that the group sales rose 7.2 per cent to £ 3.856 billion. The crucial clothing and home division that had long... Continue Reading →

Burberry has said the slowdown in demand for its luxury goods worsened in December as wealthy shoppers tightened their belts. As a result, the London-based fashion brand cut its profit projection for the year. The “slowdown in luxury demand” that has persisted following increases in the cost of living and worldwide interest rate hikes, according... Continue Reading →

Tesco and The Entertainer are extending their partnership to cover the entire grocer’s UK and the Republic of Ireland business from March. Tesco customers will be able to buy The Entertainer’s range of brands including Barbie, Nerf and LOL as well as their exclusive ranges Addo brand and Early Learning Centre in stores across the UK and... Continue Reading →

LONDON, Jan 4 (Reuters) - British clothing retailer Next (NXT.L) on Thursday raised its profit forecast for the year to end-January 2024 for the fifth time in eight months as it reported a better-than-expected rise in Christmas sales, sending its shares to an all-time high. The group, which trades from about 460 stores in the UK and... Continue Reading →

December 28, 2023 The number of women hired as chief executives of UK retailers rose to a record high last year. Thirteen female leaders were hired to the top job of UK retailers in 2022, which equates to 31% of the 42 appointments made, according to management consultancy Korn Ferry. Retail Gazette looked into the new intake of... Continue Reading →

Interview: Alessandro Dudech on Japanese brand Uniqlo’s plans to challenge Zara and H&M Daniel Woolfson28 December 2023 • 6:00am The boss of Uniqlo’s UK division has vowed to keep reducing prices as inflation eases, as the retailer tries to attract price-conscious shoppers to fuel its expansion. Alessandro Dudech, the 34-year-old who runs Uniqlo’s 17 sites across... Continue Reading →

2023 saw a resurgence in the high street, with a raft of high-profile store openings. Retail Gazette rounds up the best new stores of the year that have created a real buzz on the high street. HMV, Oxford Street  To the delight of music – and er, pop culture fans – last month HMV reopened the... Continue Reading →

This festive expansion propels Asda towards its goal of 1,000 stores in the UK and Northern Ireland by March 2024. Some of the stores will be located in London, an area that typically holds little representation for Asda. Credit: Asda. In a move to expand its reach and make its value offerings more accessible, supermarket... Continue Reading →

Dec 19 (Reuters) - UK fashion retailer Superdry (SDRY.L) warned of a hit to annual profit on Tuesday, as unusually warm weather hurt sales of its autumn/winter collection and consumers curb spending amid a cost-of-living squeeze. Shares in the company, known for its jackets and clothing inspired by American vintage styles and Japanese-inspired graphics, fell... Continue Reading →

Sephora is launching its third UK store in Manchester, as it seeks to expand in the North of England. The shop is set to open in summer 2024 in Manchester’s Trafford Centre, after the business launched its first two stores in London in March and November this year. The cosmetics retailer insisted the store will “redefine the beauty landscape in the... Continue Reading →

Walgreens Boots Alliance reportedly exploring options including flotation on London Stock Exchange The US parent company of Boots has revived plans to offload the UK’s biggest pharmacy chain. Walgreens Boots Alliance, which abandoned a £5bn sale of Boots and its related No7 Beauty brand last year, is reportedly exploring options including an initial public offering on the London Stock... Continue Reading →

LONDON, Dec 14 (Reuters) - The UK government's decision to hike the national minimum wage from April 2024 while refusing to reform the business rates system shows its cares little for the country's retail industry, the boss of electricals group Currys (CURY.L) said on Thursday. Britain's minimum wage, called the National Living Wage, will increase by 9.8%... Continue Reading →

Rising coffee consumption and significant potential for outlet growth were highlighted as key drivers for The Coffee’s planned UAE debut, with stores in Saudi Arabia and Egypt also slated for next year Brazilian specialty coffee chain The Coffee will further expand its international footprint in the first half of 2024 with its first stores in... Continue Reading →

Pepkor is looking to sell more women’s clothing, cosmetics Africa’s largest clothing retailer is also expanding in Brazil A deal could provide Pepkor with an additional 131 stores with a focus on women’s clothing and cosmetics, areas in which Pepkor is looking to expand.Photographer: Waldo Swiegers/Bloomberg Pepkor Holdings Ltd., Africa’s largest clothing retailer, is exploring a potential... Continue Reading →

Under Armour has opened its first outlet store in London at The O2, as sales at the outlet shopping centre soared over Black Friday. The 3,949 sq ft store, which uses the brand’s new Factory House retail concept, is situated on the music venue’s lower level and is next to rival sportswear outlet stores from rivals such as... Continue Reading →

The group’s share price shot up over 10% as the market digested its interim results. A Studio 88 store at a Vukile Property Fund mall. Mr Price says it has sufficient stock for the festive season despite highlighting some challenges at local ports. Image: Akhona Matshoba/Moneyweb  Recently acquired footwear and sports apparel retail chain Studio... Continue Reading →

Inside the fiercely private Aussie retail business. On a revenue and store basis, it’s not as big as you think … Image: Suren Naidoo, Moneyweb  By now, Australian retailer Cotton On would’ve had well over 300 stores in South Africa … if everything had gone according to a plan announced in 2014. At that point,... Continue Reading →

Pepkor, Africa's largest clothing retailer, continues its expansion in Brazil. (Shutterstock) Pepkor Holdings Ltd. is increasing investments in Brazil as Africa’s largest clothing retailer repositions its South America operations toward the discount segment. The company’s Grupo Avenida SA unit nearly doubled its contribution to sales for the year through Sept. 30, accounting for about 4.3 percent... Continue Reading →

McDonald’s will open the first location of its new spinoff brand CosMc’s this week in Bolingbrook, Illinois. The fast-food giant plans to open 10 CosMc’s locations, including nine restaurants in Texas, by the end of 2024 in a test. McDonald’s will then spend a year analyzing data to decide whether it will expand the small-format chain.... Continue Reading →

Dec 6 (Reuters) - Yum Brands' (YUM.N)KFC on Wednesday said it will acquire 218 restaurants from its largest franchisee EG Group in the UK and Ireland. Once the deal is complete, all of the privately-owned EG Group's KFC UK and Ireland businesses will come under Yum's KFC UK and Ireland management. The fast-food chain operator said... Continue Reading →

Dec 5 (Reuters) - Clothing retailer Quiz (QUIZ.L) on Tuesday warned its annual revenue would miss market estimates after weak 'Black Friday' sales and sluggish consumer demand, prompting a strategic review and sending its shares sharply lower. Retailers in the country saw tepid growth in November despite Black Friday deals, as the ongoing cost-of-living squeeze prompted shoppers... Continue Reading →

The private equity owner of pet specialist retailer Jollyes is understood to be considering a sale of the business for more than £100m. City sources told The Times that the retailer’s private equity owner, Kester Capital, is working with financial advisors at Houlihan Lokey on “strategic options” for the business. Jollyes, which sells pet food, dog leads and toys,... Continue Reading →

Mike Ashley’s Frasers Group, which owns Sports Direct, Flannels and House of Fraser, has upped its stake in Boohoo Group from 16.5 per cent. to 17.2 per cent, following a series of rises in October. After purchasing a 5 per cent investment in the company in June, Frasers Group became the single largest shareholder in... Continue Reading →

Two of the biggest names in luxury retail are in talks to become one. Saks Fifth Avenue has offered $3 billion to acquire Neiman Marcus, according to the Wall Street Journal. And while that offer was rejected, the two companies are continuing negotiations. The objection, the paper reports, was more on terms of the deal, specifically the amount... Continue Reading →

Decathlon has snapped up German outdoor specialist Bergfreunde as it looks to attract a more premium shopper. The German retailer specialises in mountain sports, climbing and outdoor equipment and trades across 11 European countries. It will remain “autonomous and independent” following the acquisition and its business model and management team will remain unchanged. The outdoor giant said... Continue Reading →

LONDON, Nov 27 (Reuters) - British shopper numbers and transactions edged lower on Black Friday versus last year, according to data published on Monday that will disappoint retailers looking for a pick-up in spending after a subdued October. Barclays (BARC.L), which sees nearly half of Britain's credit and debit card transactions, said the volume of transactions... Continue Reading →

Calzedonia Group is expanding the UK footprint of its Intimissimi lingerie brand with the opening of a new store in London. The shop in Covent Garden…  FASHION RETAIL NEWS UK Calzedonia Group is expanding the UK footprint of its Intimissimi lingerie brand with the opening of a new store in London. The shop in Covent... Continue Reading →

JOHANNESBURG, Nov 23 (Reuters) - Mr Price (MRPJ.J) shares jumped 11% on Thursday after the South African budget fashion retailer posted a smaller than expected drop in first-half profit and forecast an improved performance in the second half, which includes holiday trade. Shares in the group, which also sells homewares and sports clothing and equipment, hit a... Continue Reading →

Nov 21 (Reuters) - Abercrombie & Fitch's (ANF.N) and American Eagle Outfitters' (AEO.N) upbeat third-quarter results and annual forecasts were overshadowed by caution around holiday-quarter sales from several major retailers. Apparel retailer Abercrombie & Fitch's shares, which have more than tripled this year, were down about 8%, while American Eagle slipped 17%. Days ahead of the start of the... Continue Reading →

Publishedtoday Nov 21, 2023 Gap Inc may have exited direct physical and online retail in the UK a few years back, but its deal with retailer Next appears to be going from strength to strength, and the latest development sees major expansion for the brands that it owns.Banana Republic For a start, its Banana Republic and Athletalabels have just been made available... Continue Reading →

Figures contrast with expectations of a rise and send gilt yields lower British retail sales have fallen to their lowest level since February 2021 as consumers curb their spending in the face of punishing inflation, according to data that sent gilt yields lower. The quantity of goods bought in Great Britain declined 0.3 per cent... Continue Reading →

Oxford Street in LondonSharecast / TheOtherKev via Pixabay Retail and hospitality groups have called on the Chancellor to freeze business rates, warning on Thursday that inaction could prove "disastrous" for the UK’s high streets. The government froze business rates to help support companies through the pandemic and the subsequent cost of living crisis. The Treasury... Continue Reading →

It ends weeks of uncertainty over ownership of the luxury department store A Thai retailer has seized control of Selfridges after a key shareholder in the luxury department store was hit by a cash crunch. Central Group said it has become Selfridges’ largest shareholder after converting a €364m (£317m) loan provided to the department store... Continue Reading →

Nov 13 (Reuters) - Amazon.com (AMZN.O)said on Monday it would allow Snapchat (SNAP.N) users in the United States to buy some products directly from the app as the e-commerce giant looks to capitalize on the growing use of social media for shopping. Shares of the social media firm surged more than 9% on the news. With social networks... Continue Reading →

LONDON, Nov 14 (Reuters) - Asda, Britain's third largest supermarket group, said on Tuesday its underlying sales rose 2.8% year-on-year in its third quarter - a sharp slowdown from growth of 9.6% in the previous quarter and an underperformance versus its bigger rivals. The grocer, owned by brothers Zuber and Mohsin Issa and private equity... Continue Reading →

The Most Innovative Countries in the World in 2023 Which countries are the global innovation powerhouses? In many ways, the past year has represented an inflection point in technological advancement. Almost overnight, OpenAI’s large language model ChatGPT became a household name and AI was within reach to the masses.  Yet looking under the surface, innovation... Continue Reading →

Group famous for house-to-house visits is to open franchises as it also expands deal with Superdrug Avon, the beauty company famous for building a global business by making house-to-house visits, is to open its first physical UK stores in its 137-year history. The company, known for its “ding dong! Avon calling” slogan used in its ads and by... Continue Reading →

Miniso will open the doors to its biggest ever store in the UK along London’s Oxford Street on Friday. The 2,700sq ft flagship is one of three new stores the Chinese giant is set to unveil before the end of this year. Located at 100 Oxford Street, the store showcases the retailer’s new beauty and fragrance collection alongside... Continue Reading →

Asos is set to make its physical pop-up store debut this month in London, allowing customers to experience its “fashion first-hand” as well as a collaboration with Snapchat promising “to take immersive shopping to the next level”. The four-storey pop-up at 11 Rathbone Place in London, will run from November 23-26, coinciding with Black Friday, and will... Continue Reading →

Located in North Yorkshire and West Sussex, both openings are part of the company’s strategy to focus on convenience retail services. bp has opened two brand new retail stores – one in the town of Norton-on-Derwent in North Yorkshire and another in the village of Faygate in West Sussex. The opening of the two new... Continue Reading →