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Leading fashion and home products retailer Fabindia, which currently owns 311 retail stores across India and 14 stores overseas, is eyeing funds and big valuation through IPO. Fabindia Overseas Pvt. Ltd is known for its unique basket of ethnic apparel, furniture, organic food and personal care products and recently it has announced its plans to go […] from Indiaretailing.com https://ift.tt/3hskuPT via IFTTT

As the UK continues on its post-Covid recovery path, it’s arguable that consumers are now searching for two qualities in retailers: sustainability and cost-effectiveness. It just so happens that furniture rental services offer these. The stigmas associated with renting furniture are slowly fading, particularly as rental fashion services such as Hurr and By Rotation emerged as strong players in the sector following the accelerated shift to online brought on by the pandemic. Currently, there are four furniture rental services in the UK – John Lewis, Harth, Modern Art Hire, and Fat Llama. Renting furniture is an attractive option for those who want to try out different furniture styles, and are unable to hunt and shop for furniture. Brits have also become more concerned with how the their homes looked after enduring various lockdowns, tiered restrictions and stay-at-home orders. Renting furniture is an attractive option for those who want to trial different options Jonathon Warre...

// Cake Box pre-tax profits jumped by 11.8% to £4.2m for the year to March 31 // Group revenues lifted by 16.9% to £21.9m for the year // Cake Box is also targeting between 18 and 24 new openings over the current financial year The boss of Cake Box has said the retailer has emerged from the Covid-19 pandemic as a “bigger, better business” as it posted higher profits for the past year. The vegan cake chain told investors today that pre-tax profits jumped by 11.8 per cent to £4.2 million for the year to March 31 despite the impact of the pandemic. It was boosted by higher sales over the year as it stores remained trading for most of the year and the retailer opened 24 new franchise stores. READ MORE: Cake Box to expand with 52 new stores as sales rise defy lockdowns Cake Box half-year profits slip 4% due to lockdown measures Group revenues lifted by 16.9 per cent to £21.9 million for the year. Cake Box chief executive Sukh Chamdal said the London-listed business was now...

// New survey shows that 1 in 5 ready meals sold at supermarkets now plant-based or vegetarian // Aldi & Tesco named as two best performers for increasing their plant-based options by 175% & 103% respectively // Asda, Morrisons and Sainsbury’s “continue to have very meaty ranges” A fifth of ready meals sold by UK supermarkets are now plant-based or vegetarian and are the cheapest option at the majority of retailers, according to a new survey. Among the ready meal category, plant-based options are the fastest growing, up by 92 per cent since the Eating Better alliance’s first survey in 2018. The organisation named Aldi and Tesco as its two best performers for increasing their plant-based options by 175 per cent and 103 per cent respectively after surveying 2743 ready meals across 10 UK supermarkets. READ MORE: Co-op to make plant-based food range cost the same as meat equivalents Should retailers forget Veganuary this year? John Lewis unveils vegan & recyclabl...

E-commerce marketplace Flipkart today announced the launch of its grocery services in Coimbatore with the opening of its first fulfillment centre (FC) in the region to meet the growing demand for groceries online. The opening of this facility also bolsters Flipkart’s supply chain in the South India and will create thousands of direct and indirect […] from Indiaretailing.com https://ift.tt/3qBCuev via IFTTT

// The government to input on plans to drive regularity of business rates revaluations // HM Treasury launched a consultation on business rates reform measures that could see revaluations take place every 3 years // The consultation is part of the government’s wider review into business rates The UK government is seeking input on plans to boost the regularity of business rates revaluations. HM Treasury launched a consultation on business rates reform measures that could see revaluations take place every three years, rather than the current five-year period. The consultation is part of the government’s wider review into business rates, which will launch this autumn. READ MORE: Retailers face £5bn tax liability as rates holiday in England ends Wednesday “As our economy is recovering, we are supporting businesses to build back better,” financial secretary to the treasury Jesse Norman said. “Proposals set out in this consultation would mean that valuations more quickly refle...

// The private equity suitor seeking to buy Morrisons should increase its offer to £6.5bn // Clayton, Dubilier & Rice (CD&R) must hike its bid from 230p per share to 270p if it wants to seal the deal // JO Hambro Capital said offers approaching 270p a share “merit engagement and consideration” A top Morrisons shareholder seeking to buy Morrisons should increase its offer to £6.5 billion if it wants the takeover to succeed, a fellow private equity suitor said. Morrisons stock has soared this month after the grocer rebuffed a 230p-per-share offer from Clayton Dubilier & Rice (CDR), saying it “significantly undervalued” the business. Now JO Hambro Capital, the tenth biggest shareholder with three per cent, said offers approaching 270p a share “merit engagement and consideration”. READ MORE: Morrisons set to be subject of imminent bidding war It said CDR should pay “a fair price” to access the benefits of combining Morrisons’ petrol station business with its Motor...

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// Topps Tiles sales rise in the first three months since stores have been allowed to reopen // Retail like-for-like sales increased by 12.9% over the third quarter // Sales surged by 18.5% in the first eleven weeks after stores reopened Topps Tiles has reported a surge in sales in the first three months since stores have been allowed to reopen, after lockdown restrictions heavily impacted the group’s performance. On a two year basis compared with 2019, retail like-for-like sales increased by 12.9 per cent over the third quarter. Sales surged by 18.5 per cent in the first eleven weeks after stores reopened to customers on April 12, as consumers sought to improve their homes. READ MORE: Topps Tiles back in profit despite a dip in sales Topps Tiles said it expects this demand to remain high in the coming months. The retailer said that while percentage gross margins in the period were slightly lower than previous guidance, its gross profits were strong. Topps Tiles remains...

// UK retail profits to shrink by £8bn by 2025 // This would come as a result of the increased shift to online in the wake of Covid-19 // Pre-tax profit margins are forecast to fall to 3.2% by 2025 New research has found that UK retail profits are expected to shrink by £8 billion by 2025. This would come as a result of the increased shift to online retail in the wake of the Covid-19 pandemic, according to a report by global professional services firm Alvarez & Marsal (A&M), in partnership with Retail Economics. Pre-tax profit margins are forecast to fall to 3.2 per cent by 2025, compared to 3.7 per cent in a ‘no Covid’ scenario where the trajectory for consumer behaviour would have remained unchanged. READ MORE: Shop prices slide further in June The lasting impact of Covid-19 will not be felt equally across all retail categories, with some businesses significantly more vulnerable to pressures on profit margins than others. Almost 20 per cent of spending acros...

// Asda the latest major grocer to launch an online service for delivery in an hour // It says its new “Express Delivery” service will offer its full online range of over 30,000 products // The service is being launched from 3 Asda stores this week for customers living within a three-mile radius of them Asda has become the latest supermarket group in the UK to launch an online service for delivery in an hour. The Big 4 grocer said its new “Express Delivery” service will offer its full online range of over 30,000 products. The launch also comes after a successful trial, although each delivery will set customers back £8.50. READ MORE: Asda publishes first ever report detailing greenhouse gas cuts Issa bros push ahead with Asda takeover after CMA accepts petrol station sale Tesco expands one-hour rapid delivery service to London and Bristol The supermarket said it would become the first grocer to offer its full online product range, with customers living within a three-m...

// Studio profit before tax rises 513% to £41.7m // In the 52 weeks ending March 26, revenue increased 33% to £578.6m // Active customer base increased 35% to 2.5m Studio has seen its profit before tax rise by a colossal 513 per cent to £41.7 million, in a “transformational year”. In the 52 weeks ending March 26, revenue at the online retailer increased 33 per cent to £578.6 million, compared to £434.9 million last year. Adjusted profit before tax from continuing operations was £48.8 million, up 79 per cent from £27.3 million last year. READ MORE: Studio sales rise 88% but fails to find buyer Its core net debt was reduced by £24.3 million to £27.6 million. In April, the group launched a strategic review and sold Findel Education for £30 million. It recently completed a refinancing of the group’s £50 million core bank facility with a new maturity date of September 2024, providing a medium-term liquidity platform for growth. Active customer base was at record levels, inc...

// BRC-NielsenIQ Shop Price Index for June revealed that prices declined by 0.7% year-on-year // This compares to a 0.6% fall in May // The fall in food prices slowed to 0.2% in June, while prices in non-food items fell 1% – driven by cheaper clothes Prices for shoppers tumbled more sharply this month as retailers tried to drive the recovery in post-lockdown sales further with cheaper clothes. The BRC-NielsenIQ Shop Price Index for June revealed that prices declined by 0.7 per cent year-on-year, accelerating from a 0.6 per cent fall in May. It said this was particularly driven by a one per cent fall in the price of non-food items, with cheaper fashion items significantly pushing deflation. READ MORE: Inflation soars past Bank of England & analyst targets to 2.1% in May Brits face high grocery bills as EU red tape threatens to increase costs Meanwhile, the fall in food prices slowed to 0.2 per cent for the month from 0.3 per cent in May, representing the third conse...

// Dixons Carphone’s online electricals sales hit £4.3bn in year to May 1, driven by 114% increase in online UK sales // However, revenues from mobiles fell 55% to a £117m loss // Total sales rose 2% to £10.3bn with pre-tax profits hitting £33m – up from a pre-tax loss a year earlier of £140m The parent company of Currys PC World has revealed it managed to more than double online sales of electronics as it shifted seamlessly to operating an improved web model during the Covid-19 pandemic. Online electricals sales for Dixons Carphone hit £4.3 billion in the year to May 1, including a 114 per cent increase in online sales in the UK of £3.4 billion. Bosses said the strong rise was due to offering online live chat functions with staff in stores, allowing customers to get real-time advice via video services. READ MORE: Dixons Carphone inks exclusive Vodafone partnership deal Dixons Carphone to become Currys in major rebrand Dixons Carphone to increase pay of 12,000 colleagues...

Six years ago, the store Amish Shingadia had just taken over was named the “worst store in Sussex”. Since then though, he has worked to turn his store around. So much so that earlier this year, Londis Caterways in Horsham, West Sussex, was named as the winner of the Best Independent Store at the Retail Industry Awards. When Amish first took over the store, it was unaffiliated. He soon signed up with Londis, and the small retailer has been known as Londis Caterways & Post Office ever since. In a bid to improve the business, just six months after he took over it he decided to close for two weeks to refurbish and re-launch the store. He also expanded its offerings, double-checked prices, and attempted to forge community ties – not least to learn more about what customers wanted. At the height of the Covid-19 pandemic when Brits were forced to stay indoors, Amish recognised that many of his elderly customers were going to need help. “I had customers tell me I don’t know how we’re...

// A grace period allowing chilled meats to cross the Irish Sea is due to expire at the end of Wednesday // However, Downing Street says it expects a deal be reached where that grace period will be extended // The prohibition on chilled meats is one element of Brexit’s contentious NI Protocol, which has created a series of economic barriers Sausages and other chilled meats will continue being shipped from Great Britain to Northern Ireland, with the UK and EU expected to agree an extension to the current arrangements. A grace period allowing chilled meats to cross the Irish Sea is due to expire at the end of Wednesday but both sides expect it to be extended. Downing Street said it expected a deal to avoid a ban would be reached “on terms which are acceptable to the UK”. READ MORE: Retail: Six months since Brexit – and 5 years since the referendum UK-EU Brexit talks on Northern Ireland break up with no new agreement Minister blasts “bonkers” chilled meats situation in NI P...

// Sports Direct must keep existing store open despite plans to open a second in Sheffield, the building owner said // The retailer confirmed it is moving into the former TJ Hughes department store on The Moor Sports Direct has reportedly been told to keep its existing store open despite plans to open a second in Sheffield city centre. The retailer confirmed it is moving into the former TJ Hughes department store on The Moor, but has not revealed whether it will remain in its current location – the former House of Fraser at 50 High Street. The building is owned by Tellon Capital, and partner and co-founder James Burchell said he was unaware of Sports Direct’s intentions, The Star reported. READ MORE: Sports Direct launches “unique” multi-destination store in Leicester However, he said he expected bosses to honour the lease. “Sports Direct has a lease that lasts until 2024 and we expect them to honour that lease. We have regular communications with occupiers including Spor...

// 15 month business rates holiday for 394,601 retail, leisure & hospitality premises in England worth £13.8bn ends on Wed // Those premises face £5bn tax liabilities as they return to business rates on Thurs, even with reduced relief for the next 9 months // Large retail, leisure & hospitality operators return to normal level of rates on Thursday with £2m cap in reduced relief Retailers in England are bracing for £5 billion in tax liabilities as the 15-month business rates holiday ends on Wednesday. According to analysis of official government data by the real estate adviser Altus Group, there are 1.98 million occupied retail, hospitality and leisure premises in England that will liable for business rates from Thursday onwards. Of that total, 727,413 were already exempt from business rates through the 100 per cent small business rates relief. READ MORE: Warning of £2.5bn business rates debt crisis Retail landlords criticise “disgraceful” extension to evictions ba...

// Tesco AGM leads to activists heading outside its Welwyn Garden City headquarters // Activists protested against greenwashing and meat that causes deforestation Tesco has seen activists protest outside its headquarters in Welwyn Garden City against greenwashing and meat that causes deforestation. Activists flocked to the site where Tesco held its AGM, holding giant letters which spelt the words “Forest Crime”. The 10-metre wide sign was accompanied by 10,000 handwritten messages from customers urging Tesco to stop fuelling unsustainable meat. READ MORE: Tesco expands one-hour rapid delivery service to London and Bristol In total, 10,000 messages – many threatening a boycott of the supermarket if action wasn’t taken – were received by Greenpeace and delivered to Tesco as part of the peaceful direct action. A further 250,000 people have signed a petition calling on Tesco to drop forest destroyers. A message from Brazilian Indigenous Leader, Sonia Guajajara, was also writt...

// UK retail footfall remained flat last week // Footfall in high streets and shopping centres edged up 0.2% and 0.6% respectively New research has shown that UK retail footfall remained flat last week with a marginal drop of 0.2 per cent. The number of visits to high streets and shopping centres edged up 0.2 per cent and 0.6 per cent respectively, but footfall in retail parks declined by two per cent, according to Springboard. Central London footfall climbed by nine per cent as consumers gravitated towards city centres. READ MORE: Retailers post “strongest sales since 2016” Regional cities saw footfall drop by 0.9 per cent, but footfall in market and coastal towns fell by 2.5 per cent and 6.8 per cent respectively. The figures also show that the gap in footfall from 2019 in central London was 53.2 per cent compared to a decline of 27.9 per cent in regional cities. “Footfall shifted from day to day, but overall the first part of the week from Sunday to Tuesday was mor...

Firework, the interactive short-form web story video platform that allows users to engage and convert website visitors, has now — as part of its open web initiative — launched a new shoppable video format. As part of the new initiative, businesses and brands can sell their products through shoppable videos and livestream. Firework has launched […] from Indiaretailing.com https://ift.tt/3AbAPRd via IFTTT

E-commerce marketplace Snapdeal has just shared its home category sales numbers, which have grown by 70 per cent since March 2020. COVID induced lockdowns and the work from home situation has made the value e-commerce player see growth predominantly in the kitchenware and home improvement category products, which saw a 50 percent and 100 percent […] from Indiaretailing.com https://ift.tt/2Uc6kKJ via IFTTT

Niti Aayog vice chairman Rajiv Kumar has said that the fresh set of stimulus measures announced by the Union Finance Minister Nirmala Sitharaman will not only accelerate the revival of the economy, but also bolster employment opportunities. On Monday, Sitharaman announced Rs 1.5 lakh crore of additional credit for SMEs, additional funds for the healthcare sector, loans to […] from Indiaretailing.com https://ift.tt/3y4l6BU via IFTTT

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// UK government holds emergency meeting with retailers, logistics groups and wholesalers about lorry driver shortages // The shortage of drivers threatens to leave gaps on supermarket shelves // Tesco said the driver shortages were creating 48 tonnes of food waste each week The UK government has held an emergency meeting with retailers, logistics groups and wholesalers following a shortage of lorry drivers which poses a threat to grocers. Officials from the Department for Environment, Food and Rural Affairs (Defra) have discussed potential solutions, including relaxing restrictions on drivers’ working hours and increasing capacity for HGV driving tests and training to help bring in new local drivers. The shortage of drivers threatens to leave gaps on supermarket shelves following a loss of up to 100,000 lorry drivers due to the Covid-19 pandemic and Brexit. Defra is considering putting drivers on the official shortage occupation list to help make it easier to bring ...

// Dixons Carphone announces an exclusive, multiyear partnership with Vodafone // It comes after the retail giant was shunned by EE and O2 last year // Dixons Carphone’s new deal with Vodafone is based on a share of the margins, as opposed commissions for each new customer signed up Dixons Carphone has struck an exclusive, multiyear partnership deal to sell Vodafone mobile plans across its 300 stores. The move comes as a lifeline for the electricals retail giant after it had been shunned by other mobile phone providers – especially EE and O2, both of which ended their contracts with Dixons Carphone last year. Under the new partnership, Vodafone will underpin Dixon Carphone’s new mobile offer – launching later in the year – alongside the business’s award-winning mobile virtual network, iD Mobile. READ MORE: Dixons Carphone to become Currys in major rebrand Dixons Carphone to increase pay of 12,000 colleagues WHSmith considers taking over Dixons Carphone’s airport stores ...

// Screwfix to launch a trial delivering products to Bristol customers in as little as 30 minutes // The DIY chain has partnered with delivery courier service Gophr Screwfix is set to launch a trial which will see it deliver products to customers in as little as 30 minutes. The DIY chain has partnered with delivery courier service Gophr to deliver products in Bristol. While the trial is limited to the area, parent company Kingfisher has been looking to boost its last-mile delivery options. READ MORE: Screwfix to create 600 jobs amid 50 new store openings this year Meanwhile, sister company B&Q has been leveraging its store estate, operating dark stores out of its “digital hubs” to offer next-day delivery. B&Q also offers click-and-collect within an hour, while Screwfix offers the same service within one minute. In March, Screwfix revealed plans to open more than 50 stores in the UK and Ireland this year, a move that would create around 600 new jobs. Of the total ...

// Boots launches Online Doctor via the Boots Health Hub on its ecommerce store // Prescriptions, treatment and advice can be accessed – with prescriptions available to pick up at a Boots store or delivered // Almost 100 healthcare services now available online and in store with Boots Boots has launched an online doctor service that customers can access via its ecommerce store. The retailer’s new Online Doctor service caters for 45 healthcare conditions – from skin conditions to sexual health and family planning, alongside weight loss support, diabetes testing and menopause treatments. The Boots Online Doctor services can also provide online consultation and quick access to advice and prescription-only medicine without having to see a GP. READ MORE: Boots UK owner pays £488m to US owner despite Covid-19 impact Boots sales drop by nearly a fifth Boots to cut 300 jobs at Nottingham head office The Boots Online Doctor services are available at Boots.com’s Health Hub. Wi...

// Government urged to make attacks on shop staff a specific criminal offence // Home Affairs Committee says the “patchwork” of existing legislation was not adequate to address rising abuse towards shop workers // Committee also says the police response to such attacks failed to match the extent of the problem MPs are urging the government to make attacks on shop staff a specific criminal offence amid a “rising tide of violence and abuse” against workers in retail. The Commons Home Affairs Committee said the “patchwork” of existing legislation was not adequate to address the escalating scale of attacks. It called for shop workers to be given additional protection in law in the same way as emergency service workers and customs officers. READ MORE: 2/3 shopworkers who report incidents say no help was provided MPs to debate petition to protect shopworkers from violence Retail staff face daily abuse as BRC calls on gov’t to act The committee said it had received evidence ...

There are many clear positives for retailers dabbling in partnerships with third-party brands on their ecommerce platforms. Adding a third party brand allows retailers to trial the introduction of new types of products and new focuses for products without having to go through the product development. They also provide the chance for retailers to extend their offering in front of another brand’s audience. Arguably, brands could be deterred from launching on a retailers’ platform, particularly as they can take a cut of anywhere between 10 per cent and 30 per cent on each sale. But this means the retailer would also have little control over how their brand is presented on a third-party site – which could be recommending complementary purchases from a competitor, for instance. Working with brands is undoubtedly a crucial part of being a retailer, which is why John Lewis, Next and Marks & Spencer have launched third-party brands on their ecommerce platforms in recent times. Last ye...