Latest Retail Insight, News, Information & Articles from all top sources for the Internet.

// M&S has opened a new concept store at the Roaring Meg retail park in Stevenage // The store features clothing, a marketplace-style foodhall with ‘Fill Your Own’ stations, a beauty department, an opticians and a 174-seat cafe M&S opened a new concept store in the former Debenhams ‘store of the future’ at the Roaring Meg retail park in Stevenage on Thursday. The 75,000 sq ft M&S store spans two floors and houses clothing, food, kidswear, a beauty department, an opticians and a 174-seat cafe. The foodhall follows M&S’s new marketplace-design and includes ‘Fill Your Own’ stations . The retailer said the store would bring a “bigger, better, fresher shopping experience” . M&S’ clothing department is very light, bright and spacious The store has an impressive denim department Athleisure brand Goodmove, which is now M&S largest in-house brand, has a dedicated section in store The foodhall is designed to look like a marketplace The M&S st...

// AO.com sees sales fall and announces a focus on cash generation // The business will delay release of its annual results by up to eight weeks as its continues a strategic review of its German business The online electrical goods retailer AO World is preparing for revenues to be even lower in 2022 and said it would focus on cash generation after revealing a 6% drop in income. It warned that “volatile market conditions, inflationary cost pressures and logistical challenges in the supply chain, together with the escalating cost of living for consumers” will affect its performance. “We remain cautious about our revenue and profit outlook in the near term,” the company said. READ MORE: AO moves to new 20,000sq ft depot after “rapid expansion” AO.com recycles 5 million appliances in first five years In the coming year the business said it will focus on cash generation to strengthen the balance sheet whilst optimising its cost base “to align with the expected lower levels of...

// Travis Perkins sees sales for the first three months of the year jump more than 13% // Revenue from its tools business Toolstation was down 6% on the same quarter last Travis Perkins says it has seen a “positive” start to the year thanks to booming demand in housing, with sales for the first three months up 13.6% on last year. The building materials supplier said higher prices would form a higher proportion of sales growth this year due to inflation as it maintained guidance. It said a backlog of social and infrastructure work, along with demand for new housing, help push sales at its merchanting division, which includes building materials, up 17.9%. READ MORE: Travis Perkins to extend trial of using Hydrotreated Vegetable Oil as fuel Travis Perkins set to open 50 new branches over next 5 years Toolsation sales fell by 6% after a tough comparator year while management is “confident” of a recovery in the second half of the year. “Pricing accounted for approximately t...

Arzooo, a home-grown B2B retail platform, announces the appointment of Tushar Deshpande as Vice President, Fintech. He will lead this charter of scaling merchant lending business, Arzooo Credit. Arzooo Credit was launched last year to uphold retail partners as a digital lending solution that allows retailers access to a fully digital and paperless model to […] from Indiaretailing.com https://ift.tt/9RAqH0z via IFTTT

// Amazon posts its slowest quarterly growth in years and its first quarterly loss since 2015 // It warned there may be more losses ahead and expects operating income between a loss of $1bn and a gain of $3bn, compared with $7.7bn in second quarter of 2021 Amazon recorded its slowest-ever revenue growth in the first quarter and its first loss since 2015 amid a drop in online retail sales and rising costs. The results fell far short of Wall Street’s expectations and the news sent the tech giant’s shares fall by 10% in after hours trading. The company reported $116.4 billion in revenue in the first three months of the year, up 7% from a year earlier. READ MORE: How Amazon has eliminated friction at checkout Amazon UK prices could rise as it imposes ‘fuel and inflation’ levy on sellers Analysis: The rise and fall of Amazon’s 4-star, books and pop-up stores For the same quarter last year, Amazon’s sales increased 44% to $108.5bn. It lost $3.8bn for the qu...

The House of Tata unveiled its first Zoya boutique within Ambience Mall, Gurugram. The launch was hosted by Zoya’s Business Head, Amanpreet Ahluwalia and attended by actress Aditi Rao Hydari. Redefining the way luxury jewellery is experienced in India.  The inviting, contemporary façade, and soft interiors in delicate shades of skin, white and blush, and […] from Indiaretailing.com https://ift.tt/ayS9pdL via IFTTT

//  Checkout friction is one of the largest reasons for basket abandonment in the sector, especially in bricks-and-mortar retail. // How do you fix it? You get rid of the checkout, according to Amazon. The ecommerce giant’s ‘Just Walk Out’ (JWO) technology has revolutionised the bricks-and-mortar retail store caused ripples within the retail industry. Read the full story on Charged Retail. Click here to sign up to Retail Gazette‘s free daily email newsletter The post How Amazon has eliminated friction at checkout appeared first on Retail Gazette . from Retail Gazette https://ift.tt/3GvV5tx via IFTTT

// Westfield owner Unibail reports rise in turnover in the first quarter // Turnover rose 34.2% reflecting a “strong post-Covid-19 recovery and asset deliveries” Westfield has revealed a rise in its turnover in the first quarter as it recovered from Covid-19. The owner of the shopping centre giant, Unibail-Rodamco Westfield said turnover rose 34.2% reflecting a “strong post-Covid-19 recovery and asset deliveries”. It said its tenant sales recovered and reached 93% of 2019 levels in the first three months of the year as well as 95% in March alone. READ MORE: The UK’s first clothing brand created by young ex-offenders opens at Westfield Meanwhile, rent collection also improved to 93% with a “continued increase in the 2021 collection rate”. The group saw “sustained leasing activity” with 521 deals signed in in the period, which was actually up 4% against 2019. Unibail chief executive Jean-Marie Tritant said: “Our portfolio of flagship destinations in the wealthiest cities an...

// Boxpark founder Roger Wade to step down as CEO // Wade will hand over the reins to Boxpark’s current managing director Simon Champion Boxpark founder Roger Wade has revealed that he will step down as chief executive after 10 years. Wade will hand over the reins to Boxpark’s current managing director Simon Champion, who will be supported by chief operating officer Ben McLaughlin. Wade is leaving office at the end of this month, and will assume his new position as Brand Consultant and Non-Executive Director. READ MORE: Boxpark to launch BoxHall concept at historical London site He remains a significant shareholder in the business alongside LDC which invested in the business in 2021. The company aims to complete its expansion plans of rolling out a mixture of 10 Boxpark and BoxHall sites in the next five years, with the support of investment partner LDC. Wade said: “It’s been a great ride over the past 10 years but it’s time to jump off and explore new opportunities. I wo...

// The influencer-led fashion retailer In The Style sees record revenue during its first year as public company // The retailer expects to report revenue of £57.3m, equating to 28% growth year-on-year The influencer-led fashion retailer In The Style has said its revenue came in just ahead of guidance with growth of 28% to £57.3 million in its first full year as a public company. In the 12 months to 31 March, the retailer’s sales were up 197% on two years ago as it continued to build on its successful social-influencer business model by working with the likes of Jac Jossa, Lorna Luxe, Perrie Sian, Gemma Atkinson and Stacey Solomon. The retailer attracted 33,000 new customers a month throughout the year on average and saw a 9% rise in overall order frequency and a 21% increase in average order value year-on-year. READ MORE: In The Style Christmas sales soar but supply chain disruption to hit margins In The Style profitability struck by supply chain issues In a statement on...

// India’s Reliance and Apollo Global have launched a joint bid for Boots // If successful, the deal would see Boots expand its presence into India, Southeast Asia and the Middle East India’s largest listed company Reliance Industries and US buyout firm Apollo Global Management, are planning a joint bid for the UK health and beauty retailer Boots , a spokesperson for Apollo confirmed. If their bid for Boots is successful, both Reliance and Apollo would own stakes in the business, although it is not clear whether the stakes would be of equal size. According to the Financial Times, the deal would see Boots expand its presence into India, Southeast Asia and the Middle East. READ MORE: Why won’t Boots bidders meet Walgreens’ £7 billion price tag? Boots owner sets May deadline as it seeks to offload chain Boots CEO insists there is still ‘a lot of interest’ in the group Earlier this month it first emerged that Reliance, owned by Billionaire Mukesh Ambani, was weighing...

// Sainsbury’s warns that its profits this year will be hit by soaring inflation as the cost-of-living crisis continues // The grocer provided an estimate for underlying profit before tax of between £630m and £690m Sainsbury’s has warned of a lower profit for the coming year as inflation continues to surge and the cost-of-living crisis causes a drop in shoppers’ disposable incomes. The UK’s second-largest grocer said that its underlying pre-tax profit in 2022-23 was expected to be between £630m and £690m, compared to the £730m underlying profit it has reported for the year to 5 March 2022. The supermarket said: “The year ahead will be impacted by significant external pressures and uncertainties, including higher operating cost inflation and cost of living pressures impacting customers’ disposable incomes. READ MORE: Sainsbury’s drops Nectar Double Up loyalty promotion in favour of ‘invite-only’ offer Sainsbury’s to axe 300 jobs as it ramps up cost-cutting drive Sainsbury’...

Premium Tea brand TeaMonk has raised Rs. 3.5 Cr in a Pre-Series A round led by Inflection Point Ventures. The funds raised will be utilized for domestic penetration and exploring uncharted territories in international markets, an official statement highlighted.    IPV has been at the forefront of helping early-stage startups by helping them in growing their […] from Indiaretailing.com https://ift.tt/CYM2LqW via IFTTT

Jaipur-based online Furniture & home decor platform Woodenstreet.com has raised around $30 Mn in a series-B round of funding led by WestBridge Capital at Rs 1200 crore valuation , in a mix of Primary and Secondary investment, an official statement highlighted.   The statement also stated that it is the largest funding raised by any vertical […] from Indiaretailing.com https://ift.tt/8dybuaz via IFTTT

// Ted Baker has entered due diligence with selected parties in the next stage of its sale process // The retailer formally put itself up for sale after receiving unsolicited approaches by private equity firm Sycamore Partners Ted Baker has entered the next stage of its sale process and has invited a “focused selection” of interested parties to enter into due diligence. The retailer will provide the potential bidders with business information during the next stage of negotiations. Ted Baker formally put itself up for sale earlier this month after receiving unsolicited bids from US private equity firm Sycamore, which previously owner Kurt Geiger and Nine West, and an unnamed third party. READ MORE:  Sycamore is understood to have tabled a bid valuing Ted Baker at just over £250 million, which the fashion retailer turned down as it believed it significantly undervalued the business. The private equity firm has formally joined the sale process and is understood to have pu...

// Poundstretcher has denied raising its prices ahead of launching a 50% off sale // The retailer said it had faced a 37% price increase from branded food suppliers Value retailer Poundstretcher has denied claims it raised prices ahead of launching a ‘50% off sale’ earlier this year. The retailer said its promotion had been “misrepresented” by an article in The Scottish Sun that suggested many items had doubled in price ahead of the sale.  The newspaper quoted shopper Lisa Elder who said that a three-pack of kitchen rolls that she had previously bought for around £3 had been increased to £7.99, which made it more expensive even after the 50% promotion. A Poundstretcher spokeswoman told The Grocer : “ The Scottish Sun article misrepresents our 50% off promotional offer. “It is not true that our prices are more expensive. In fact, I can assure you that we are generally cheaper than every other retailer in the UK by between 10%-70% on the price our customer pays at the til...

// The number of applications to convert high street shops into houses soared 37% in 2020/21, according to research from law firm EMW // However, councils rejected nearly half of all conversion plans Developers are increasingly attempting to transform high street shops into housing, new data has found . Law firm EMW research showed that store conversion applications jumped 37% with 677 applications made in 2020/21, compared to 494 in 2019/2020. However, the law firm found that almost half (45%) of applications were rejected by local authorities READ MORE: Government to force landlords to let out shops vacant for six months EMW principal Marco Mauro said: “Some local authorities are hesitant about losing too much commercial space. If too many shops are lost, the value of a high street as a destination is eroded, often permanently.” However, 14.4% of high street retail units remain vacant, according to the latest figures from the BRC-LDC Vacancy Monitor, with the demise of ...

// The Government is mulling cutting tariffs on food imports to help ease rising grocery prices for hard-pressed consumers // The idea comes as supermarket prices rose to their highest level since December 2011 The Government is in talks to cut tariffs on food imports to quell rising grocery prices after supermarket inflation rose to its highest level in over 10 years. Kantar revealed yesterday that supermarket prices were 5.9% higher in April than a year ago, and the average food bill could increase by £271 this year due to inflation. The prime minister is backing a proposal to cut tariffs on foodstuffs such as rice and oranges, which are not produced in large quantities in Britain, to cut the cost of living.  However, there is a split in the cabinet, according to the FT, with international trade secretary Anne-Marie Trevelyan opposing the plan on the grounds that the UK would lose its leverage in trade negotiations with third countries if it unilaterally cut tariffs....

Chappers launched a new store at the famous Seasons Mall in Pune on 21st April 2022. Committed to empowering local craftsmen and reviving the historic Indian footwear making art for contemporary buyers, Chappers is now focusing on rapid expansion of its physical stores and footwear kiosks across India. Chappers is on a mission to transform […] from Indiaretailing.com https://ift.tt/7EAq0sl via IFTTT

// The group continues to expect full-year organic revenue growth of 7-8% Coca-Cola has reported first-quarter sales of £8.2 billion ($10.5 billion), ahead of market expectations, with organic growth of 18%. Furthermore, underlying operating profit grew 24% to £2.7 billion ($3.4 billion). That reflected higher revenue offsetting increased marketing and acquisition costs. Read the full story here.  Click here to sign up to Retail Gazette‘s free daily email newsletter The post Higher prices help push Coca-Cola sales ahead of expectations appeared first on Retail Gazette . from Retail Gazette https://ift.tt/UCpqY85 via IFTTT

// Amazon prices could rises as it introduces a 4.3% surcharge for its Fulfilment by Amazon sellers // The levy will come into force on 12 May and is being introduced to offset rocketing inflation and record fuel prices Amazon shoppers could could be hit with higher prices after the online giant revealed it will impose a new levy on sellers to offset spiralling inflation and record fuel prices. From 12 May Amazon’s UK operation will add a “fuel and inflation surcharge” of 4.3% to fulfilment fees for marketplace sellers that use its ‘Fulfilment by Amazon’ (FBA) service. It is likely that sellers will pass on the cost increase to customers. READ MORE: Primark raises prices as its unable to offset rising inflation Amazon chief executive Andy Jassy said the new charges are a response to rising costs following the pandemic and war in Ukraine and would be introduced to many of its markets. He said: “At a certain point, you can’t keep absorbing all those costs and run a business ...

// Primark will implement “selective price increases” in autumn/winter as it is unable to mitigate rising costs in its business // The retailer’s sales and profits bounced back in the first half with revenue surging 59% to £3.54 billion. Primark will be forced to raise prices in its second half as it is unable to offset rising costs. The fashion giant had managed to keep prices static in spring/summer, however, it admitted it will “implement selective price increases” across its autumn/winter stock. However, George Weston, chief executive of Primark owner Associated British Foods (ABF) said it was “committed to ensuring our price leadership and everyday affordability, especially in this environment of greater economic uncertainty”. Owner Associated British Foods flagged logistics challenges, Covid-related absences and “significant inflation pressures” across all of its businesses. Despite the price rises, Primark expects its full-year margin to be hit. It’s margin was 11.7%...

Shops are no longer just places to buy things. Visiting a store today must be an experience that people not only enjoy, but share on social media. This is becoming increasingly evident in store design, with features specifically created to be shared on the ‘gram. Retail Gazette looks at some of the most Instagrammable retail stores in the UK so feel free to share away. Flannels, Oxford Street Back in 2019, Fraser Group’s Flannels opened its £10 million 18,000sq ft Oxford Street flagship store. It is a premium fashion emporium. The exterior of the Flannels store features a three-storey wall of digital screens, which at launch was transformed into one of the world’s biggest permanent digital public art installations with W1 Curates. The interior of the store is just as attention-grabbing as the exterior. Designed by Italian studio P con P in partnership with artist Riccardo Previdi, is colourful and vibrant with striking custom light installation, clashing prints adorning the walls...

American Eagle has now launched in Jaipur with its first franchisee partner, Arihant Agencies. Under the license from American Eagle Outfitters, Inc., Aditya Birla Fashion and Retail Limited, is launching its first American Eagle (AE) brand store in Jaipur, Rajasthan. The store spans 1,700 sq. ft., spread across two floors which is the first high […] from Indiaretailing.com https://ift.tt/2ZTQbpP via IFTTT

Urban Company, announced the appointment of four new independent board members –  Ireena Vittal  (former partner at McKinsey & Co.), Dr. Ashish Gupta (Co-founder of Helion), Shyamal Mukherjee (former Chairman and Senior Partner of PwC India), and Deepinder Goyal (Founder and CEO of Zomato). Abhiraj Singh Bhal, Co-founder and CEO, Urban Company. commented on this […] from Indiaretailing.com https://ift.tt/M0QmpRb via IFTTT

// Morrisons slashes the prices of hundreds of products to help shoppers with the rising cost of living //  Items being discounted include cereal, cooking sauces, chicken and sausages as well as flour, bread and ham Morrisons has cut the prices of hundreds of products including eggs, beef and nappies amid the rising cost of living as shoppers head to discounters Aldi and Lidl. The cost of living is rising at its fastest rate in 30 years in part due to soaring food prices. In response to this, the supermarket has lowered the cost of more than 500 products. This includes refrigerated, frozen and store cupboard food, meat and cereal – accounting for around 6% of its total sales volumes. READ MORE:  Asda ‘drops and locks’ the price of 100 family favourites as it tackles cost of living crisis Asda finance boss quits and will be replaced by Morrisons CFO Morrisons £5.6m private equity debt likely to see prices rise The cost of groceries is now 5.2% higher than a ye...

// MusicMagpie is set to launch its devices on the online marketplace Back Market this month // Back Market is an online marketplace dedicated to the re-selling of refurbished devices MusicMagpie has revealed that it will begin selling its electronic devices on Back Market, the online marketplace for refurbished devices. The products will launch on Back Market’s UK marketplace by the end of this month and on the Back Market US site in mid-May and the agreement between the two companies includes the sales of mobile phones as well as items such as games consoles, tablets and MacBooks. MusicMagpie said the move will provide an additional sales channel for the retailer and will supplement existing sales through its own websites as well as on Amazon and eBay. READ MORE: MusicMagpie expands rental service beyond smartphones MusicMagpie half year performance in line with expectations Paris based Back Market, which was founded in 2014 is an online marketplace dedicated to the...

// Over 100 family favourites at Asda have dropped and locked in price until the end of 2022 // Shop floor colleagues will be paid £10.10 per hour plus bonus opportunity Asda will invest over £73 million to help UK households to tackle rocketing inflation . The supermarket revealed it has ‘dropped and locked’ the price of over 100 family favourites and will keep price low until the end of the year. It has also confirmed to 120,000 hourly paid shop floor workers that their pay will increase to £10.10 per hour from July. READ MORE: EG Group to create 32,000 jobs as it expands foodservice concessions to Asda Asda holds onto title of ‘most affordable supermarket’ for a full year Asda owner claims value of stake has risen 20-fold as it prepares bid for… The move comes as Asda’s Pulse of the Nation survey found that 9 in 10 consumers are concerned about inflationary pressures to their budgets and 87% are worried that grocery prices will increase this year. Asda’s latest Inc...