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

// 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 Missguided as a standalone business within the Frasers Group. Frasers Group chief executive Michael Murray said: “We are delighted to secure a long-term future for Missguided, which will benefit from the strength and scale of FG’s platform and our operational excellence. “Missguided’s digital-first approach to the latest trends in women’s fashion will bring additional expertise to the wider Frasers Group.” READ MORE: Missguided staff sacked on video call as suppliers mull legal action Missguided collapsed into administration on Monday, appointing Teneo Financial Advisory to manage the process, after a winding-up petition was i...

IKEA India (part of the Ingka Group) the Swedish home furnishings retailer revealed that it will open doors to its store in Bengaluru, located at Nagasandra for the many people of Karnataka on June 22, 2022. The large-format store will be connected to the Nagasandra metro station, which will support a faster and more comfortable […] from Indiaretailing.com https://ift.tt/Imrutc6 via IFTTT

//  Missguided employees affected by the collapse of the company are seeking to pursue legal action over claims that their redundancy processes were not properly managed. //  Administrators were called into the fast fashion retailer late on Monday after the company had been served a winding-down notice by suppliers. An employment law team at Aticus Law has said it has already been in contact with a number of now-former employees over the redundancy claims. READ THE FULL STORY HERE Click here to sign up to Retail Gazette‘s free daily email newsletter The post Missguided employees to sue the company over poorly managed redundancy claims appeared first on Retail Gazette . from Retail Gazette https://ift.tt/n8rmA7K via IFTTT

The high street has its fair share of negative news with store closures and ‘rightsizing’ commonplace, but there are some retailers still opening stores. Retail Gazette looks at the businesses putting their faith in bricks-and-mortar and pushing ahead with store expansion over the year ahead. Moss Bros Last month Moss Bros revealed plans to open 10 new stores over the next year after it found that trade had been boosted thanks to its casualwear range. The retailer, which currently has around 100 stores, was hit hard by declining demand for suits and formalwear during the pandemic but trade is on the up. Moss Bros will open 10 stores this year Pre-tax profit more-than-tripled against pre-Covid levels to £17 million for the year to January, although sales is not quite back at pre-pandemic levels at £93.1million compared to £128.3million. However, Moss Bros CEO Brian Brick is confident and sees stores as having a vital role of driving sales. He says: “I was never in doubt that ...

// B&M promotes finance boss Alex Russo to CEO // Russo has held senior leadership roles at Asda, Tesco, Wilko and Kingfisher B&M has promoted its chief financial officer Alex Russo to the role of chief executive, following Simon Arora’s decision to retire. Russo has held senior leadership positions at retailers such as Asda, Tesco and Kingfisher. He also worked a finance role at Wilko and joined B&M in October 2020. His appointment reflects the outcome of a thorough assessment and external benchmarking process over the last six weeks in which the board was assisted and advised by Russell Reynolds Associates. READ MORE: B&M value drops as CEO Simon Arora sells 40 million shares B&M is now considering the most appropriate handover plan. In the meantime, both Arora and Russo will remain in their existing roles in order to minimise disruption to the business. A B&M chairman, Peter Bamford said: “Since joining the group, Alex has made a very positive co...

// H&M Group is launching a new in-store technology-based shopping experience, as part of its wider aim to build “more relevant and meaningful relationships with consumers.” //  The group is rolling out a pilot in COS stores across the US, following an initial trial in its Beverly Hills, California store. The initiative includes a smart mirror that allows customers to request items without having to leave the fitting room. Read the full story on Charged Click here to sign up to Retail Gazette‘s free daily email newsletter The post H&M Group rolls out tech-enabled shopping experiences in COS stores appeared first on Retail Gazette . from Retail Gazette https://ift.tt/LYzkVhG via IFTTT

// Violence against shopworkers more than trebled during the first year of the pandemic, according to the BRC’s Crime Survey // The surge in abuse came despite non-essential stores being closed for much of the year Violence and abuse against shopworkers more than trebled during the first year of the pandemic, according to the latest Crime Survey from the British Retail Consortium (BRC) .  Store staff reported 1,301 incidents of abuse and violent crime each day between March 2020 and March 2021, up from 455 incidents pre-pandemic. The jump comes despite non-essential stores being closed for much of the year. For every 1,000 employees there were 155 incidents, which means that more than 15% of the retail workforce suffered some form of abuse. Each day there were 21 incidents of violence that led to an injury. READ MORE: Shopworkers face abuse from non-mask wearers as crime rises 140%, Co-op says BRC chief executive Helen Dickinson said: “These figures make particularly g...

// Wickes launched its own store on eBay // It has curated a range of over 4,000 products to target eBay’s visitors Wickes has launched its own store on eBay as it takes its first step into the marketplace. The home improvement business has curated a range of over 4,000 products to target eBay’s visitors. Wickes’ eBay range includes its best-selling flooring, internal doors, tiles, paint, ready to fit kitchen and garden products. READ MORE: Wickes sales soar against pre-Covid levels as shoppers opt for ‘do-it-for-me’ Wickes said the marketplace is the “ideal platform” to acquire and retain new customers and is the start of a six month trial. “We’re customer curious at Wickes and do a great deal of work to understand why and how our customers shop,” Wickes chief marketing and digital officer, Gary Kibble said. “We know that home improvers are always on the hunt for inspiration in creating a beautiful home and will source products from a wide variety of sellers to create t...

// The Issa brothers, which own Asda, could walk away from Boots sale following a disagreement over price // If the Issas exit the sale process it would leave Indian giant Reliance, which has teamed up with private equity firm Apollo, as frontrunners to buy Boots Asda owner, the Issa brothers. are close to walking away from buying Boots as they are not prepared to meet the asking price for the health and beauty retailer. The Issas, who have teamed up with TDR for the bid, is understood to have been asked to increase their offer for Boots by owner Walgreens but is not prepared to do so, according to Bloomberg. If the Issas do walk away from the Boots auction, this would leave the consortium of Indian giant Reliance Industries and private equity firm Apollo as the frontrunners to buy Boots . READ MORE: Why won’t Boots bidders meet Walgreens’ £7 billion price tag? Walgreens is understood to have a £7billion price tag for Boots, however, it is thought bidders are only prepared ...

Taking place from 2 to 5 June, the Queen’s Platinum Jubilee celebrations have provided a bumper sales opportunity for retailers. Retail Gazette looks at what businesses have planned to make the most out of the occasion. Aldi Aldi launched a competition last week for entrants to win funding to celebrate the Platinum Jubilee. The discount grocer’s Jubilee Street Party fund will give away a series of £500 Aldi vouchers to encourage celebrations in local communities. Ten winners have beeen selected, who are eligible to cash in vouchers to buy food, drinks and decorations from the supermarket’s Jubilee range, which includes Eton Mess Gin Liqueur and Jubilee gourmet popcorn. Jollyes Jollyes is offering a free pamper and groom for corgis in the month of June to celebrate the Queen’s Platinum Jubilee. Jolleyes is offering free grooming for corgis The Queen is a big fan of Pembroke Welsh Corgis, and the breed has become a symbol of her 70-year reign. Grooming Spas can be found at J...

// A group of 11 retailers and industry groups have urged Chancellor Rishi Sunak to reject proposals to bring in an online sales tax // The retailers argue that retailers will be forced to pass the cost increases onto consumers which could exacerbate the cost-of-living crisis Retailers including Currys, Asos, The Very Group and Gymshark are among the major firms that written to Chancellor Rishi Sunak urging him to reject proposals for an online sales tax (OST). In a joint letter to the Chancellor, 11 retailers and industry groups, including AO.com, Gymshark, Ocado, eBay and Made.com, said the levy amounted to a “shopping tax” and would worsen the cost-of-living crisis”, The Telegraph reported . The firms wrote: “We believe an OST would…hurt – not help – the high street, and stifle retail innovation and investment. The burden of business rates on retail is too high and needs reforming, but an additional tax on a sector that is already overtaxed is not the answer.” READ...

Melorra announced the launch of its first flagship high-street store in Bengaluru. The store was launched by the brand’s ambassador, actor, and influencer, Shraddha Kapoor at Commercial Street, an official statement highlighted. The statement also mentioned that the store has 3 experience centres in Bengaluru currently with the focus of the flagship store will be […] from Indiaretailing.com https://ift.tt/ZGT9lvi via IFTTT

// Boohoo is reported to have entered exclusive talks to buy rival Missguided // It is understood that Boohoo is eyeing a pre-pack deal Boohoo is plotting a pre-pack rescue deal to buy rival Missguided, which is teetering on the brink of administration. Boohoo has entered exclusive talks with Teneo, which is advising Missguided, and a deal to buy the fashion retailer could be imminent, according to The Times . The newspaper’s sources said that the deal has not been finalised and it was unclear whether Boohoo was interested in buying the Missguided brand or the whole business. Both Boohoo and Teneo declined to comment. Missguided was served with a winding-up order last week by one of its suppliers . Police were also called to its head office in Manchester after suppliers accused the firm of leaving them millions of pounds out of pocket. READ MORE: How Missguided lost its direction – and can it get back on track? A spokesperson for Missguided said: “Missguided is aware of the...

// TK Maxx owner TJX Europe makes two senior leadership changes // TJX Europe president Louise Greenlees has been promoted to group president while TJX Europe COO Michael Munnelly has been promoted to president TK Maxx and Homesense owner TJX Europe has revealed two senior leadership changes within the company. TJX Europe president Louise Greenlees has been promoted to a global TJX role as group president, with responsibility for TJX Europe, TJX Australia and the Global Buying Offices. Prior to joining TJXE, Greenlees worked in buying and merchandising before moving into leadership roles at Arcadia. READ MORE: TK Maxx to sell 25% stake in Russian apparel retailer Familia In 2010, she joined TJX Europe as managing director of Homesense and following other executive roles including managing director of TK Maxx, became president of TJX Europe in early 2015. During her tenure, TJX Europe said its business has continued to “grow successfully” across its six European markets, in...

// Dr Martens launches ReSouled scheme with Depop to resell boots // Dr Martens CEO Kenny Wilson expects secondhand boots to account for 15% sales in 10 years Dr Martens has revealed plans to enter the resale market with its new collaboration with online marketplace Depop. The British footwear brand’s chief executive Kenny Wilson said it was possible that refurbished or secondhand boots could account for up to 15% of sales in 10 years’ time. Wilson said the interest in sustainability had broad appeal despite Depop’s traditionally young customer base, The Guardian reported. READ MORE: Dr Martens revenues rise in Golden Quarter thanks to online sales “We think this is going to be a big part of how consumers shop in the future,” Wilson said. “This is part of something really important for the business longer term. Our incredible strength is the durability of the product. I can own a pair for seven or eight years and they are still perfectly good for someone else who wants to...

// Ted Baker is being eyed by the US-based owner of Reebok, Authentic Brands Group // The company is willing to pay more than 150p-a-share for Ted Baker The US-based owner of Reebok, which also owns a controlling stake in David Beckham’s portfolio of branded products, is being advised by Bank of America on a bid for Ted Baker. Authentic Brands Group (ABG) is the preferred bidder for Ted Baker and is competing to finalise a £300 million takeover of the fashion retailer. The company is willing to pay more than 150p-a-share for Ted Baker, Sky News reported. READ MORE: Ted Baker sales grow but cautions on inflation Ted Baker said its board had “selected a preferred counterparty to take forward into a process of confirmatory due diligence”, but declined to name the bidder. ABG is run by the billionaire businessman Jamie Salter. It was recently valued at nearly $13 billion (£10.3 billion) after selling “significant equity stakes” to CVC Capital Partners, the Six Nations Rugby ...

// In The Style raises £500,000 for The Bowelbabe Fund for Cancer Research UK in 1 week // Since The Bowelbabe Fund was announced, it has already surpassed £6m in donations In The Style has raised £500,000 for The Bowelbabe Fund for Cancer Research UK in just one week. The funds have been raised through the sale of the Dame Deborah James ‘Rebellious Hope’ t-shirt, the first item to be unveiled to customers from In The Style’s Dame Deborah James collection. The Bowelbabe Fund for Cancer Research UK will support causes and projects such as funding clinical trials and research into personalised medicine that could result in new treatments for cancer patients. READ MORE: In The Style reports record revenue growth Since The Bowelbabe Fund was announced, it has already surpassed £6,000,000 in donations. The collection comprises 18 products and is available in sizes 6-28. It includes dresses, skirts, blazers, shirts and blouses, t-shirts and hair accessories, with each and every ...

// Majestic Wine expects UK to drink 114 glasses of sparkling wine per minute for the Jubilee // Majestic said English sparkling wine sales are up by around 58% like-for-like Majestic Wine said it expects the UK to celebrate the Queen’s Platinum Jubilee bank holiday weekend with 114 glasses of sparkling wine per minute. The wine retailer has predicted that 110,000 bottles of sparkling wine will be picked up from its stores between June 2 to 5. Majestic said English sparkling wine sales are up by around 58% like-for-like, and it expects Nyetimber Classic Cuvée to top the best-sellers chart for the first time. READ MORE: Majestic Wine launches new subscription club “In terms of bubbly consumed, the Queen’s Platinum Jubilee outdrinks Kate & William’s Royal Wedding back in 2011 by 23,000 bottles, making it a 21% increase – and Harry & Meghan’s marriage in 2018 by 43,000 bottles, a 39% increase,” the company said. Meanwhile, data specialist Kantar has predicted supermar...

// TM Lewin introduces brand new website after being acquired in rescue deal // The new site “will be followed by physical flagship stores” TM Lewin has relaunched its website just six weeks after being bought in a rescue deal. The shirtmaker is currently showcasing its initial spring/summer range, with additional lines “to be added in the coming weeks”. The new site “will be followed by physical flagship stores in key locations soon, enabling TM Lewin to be as close to its customers as possible once again”. READ MORE: TM Lewin former staff win legal battle after retailer failed to warn of job losses TM Lewin’s new owners said they’re “committed to driving the future growth and success of the business, while ensuring it regains its status as a leading menswear provider, renowned for quality shirts and other tailored items”. Managing director James Kearns said: “For over 120 years, TM Lewin has been synonymous with quality, tailored menswear and we are committed to re-estab...

// Asda first-quarter sales drop against strong like-for-like comparables // The grocer said like-for-like sales fell 9.2% in the three months to March 31, 2022 Asda has seen its first-quarter sales decline against strong like-for-like comparables thanks to the squeeze from the cost-of-living. The grocer said like-for-like sales fell 9.2% in the three months to March 31, 2022, compared with an “exceptional period” in the first quarter of 2021. Food sales for the period were down 7%, while clothing sales declined 19.3% and general merchandise sales dropped 23.7%. READ MORE: Asda warehouse staff indicate strong support for strike Asda said that during the period “households were squeezed by the removal of Ofgem’s price cap, resulting in gas price inflation of 95% and electricity prices rising by 53% in April”. With inflation affecting food prices, Asda’s Income Tracker recorded that household disposable income fell to an average of £205 per week – the lowest figure since Oct...

// Missguided lining up administrators as creditors issue winding-up petition // The retailer is accused of leaving suppliers millions of pounds out of pocket Missguided is close to calling in administrators as its business remains on the brink of collapse after creditors issued it with a winding-up petition. The fashion retailer has been accused of leaving suppliers millions of pounds out of pocket, which led to police being called to the company’s head office in Manchester. A winding up petition was issued against Missguided on May 10 by supplier JSK Fashions. READ MORE: How Missguided lost its direction – and can it get back on track? Alteri Investors, which saved Missguided from collapse last year, has been searching for ways to sell the business in the past few weeks, with JD Sports and Shein expected to make a bid. Insolvency specialists Teneo are understood to be preparing to step in as administrators if the business cannot be sold solvently. Three factory owners s...

Oberoi Mall announced the launch of SS BeAUTY, a luxury beauty store by Shoppers Stop. SS BeAUTY Store at Oberoi Mall marks the 3rd exclusive retail point in the city. Spread across 790 sq. ft. the store houses the finest beauty brands such as MAC Cosmetics, Clinique, Bobbi Brown, Jo Malone, Estee Lauder, Smashbox and […] from Indiaretailing.com https://ift.tt/89AKrZ3 via IFTTT

// John Lewis launches partnership with kidswear rental platform, Thelittleloop // The John Lewis collection is available to rent as part of a trial John Lewis has launched a capsule collection of baby and childrenswear which are available to rent from kidswear rental platform, Thelittleloop . The collection, which includes 51 staple products from its spring/summer 22 John Lewis label, is available to rent as part of a trial. Customers will be able to select John Lewis kidswear items to add to their subscription plan, with monthly plans starting from £18 for roughly six to seven products at a time. READ MORE: John Lewis poaches new people director from Post Office John Lewis Partnership, Glynis Williams said: “Thelittleloop reflects our ambition to offer more sustainable ownership options and forms part of the commitment we made to our customers to reduce the greenhouse gas footprint of our textile supply chains by 50% by 2030.” Williams added that John Lewis is consid...

South India’s Largest multi-brand footwear chain – CENTRO has announced an exclusive partnership with American lifestyle brand TOMS to launch its footwear in India, an official statement highlighted. The statement also mentioned that the launch of TOMS is part of CENTRO’s strategy to introduce several individual brands, each serving their target customers in different ways, […] from Indiaretailing.com https://ift.tt/haNj7V0 via IFTTT

// Marks & Spencer full-year profits and sales surged, surpassing pre-Covid levels // M&S’ outgoing boss Steve Rowe, who stands down today, said he was leaving M&S “a fundamentally changed” business. M&S has delivered a “strong all-round performance” as both profits and sales rose in its last financial year as it decides to fully exit Russia. Chief executive Steve Rowe, who stands down today, said he was leaving M&S “a fundamentally changed business” as he unveiled that that p re-tax profits before adjusting items hit £522.9million in the year to March 28, up from £403.1million two years ago, before the onset of Covid. On a statutory level, profits after tax skyrocketed from £27.4million to £309 million. Sales jumped 6.9% to £10.9billion over the year with both  food and clothing revenue growing. Food sales surged 10.1%, or 14.7% excluding its hospitality and franchise business, whilst its clothing and home arm, which has long struggled at M&S, deliv...

// Iceland to supply a range of its frozen food products to JD.com // JD.com is one of China’s largest online retailers Iceland has agreed a deal to supply a range of its frozen food products to online retail giant JD.com. The new deal will see JD.com offering a range of Iceland frozen food items to its customers across China. JD.com is one of China’s largest online retailers and its nationwide fulfilment network provides standard same- and next-day delivery covering a population of more than one billion. READ MORE: Iceland cuts food prices for shoppers over 60 years old Head of Iceland International, Alistair Cooke said: “We are now starting to see some real growth for the Iceland brand in China, and I have no doubt our new relationship with the esteemed JD.com will help us gain further recognition for the famous Iceland name across the country”. JD-worldwide food, beverage, pet supplies, and fresh food director, Jacky Xie said: “JD Worldwide is currently making efforts i...

Leading hosiery company Dollar Industries Ltd said it expects to become a Rs 2000 crore company by 2024-25 and will invest Rs 120 crore by the same year to double its spinning capacity. Unveiling its Vision 2025 and a logo on completing 50 years, the company said its fourth-quarter profit ended March 2022 rose 10% […] from Indiaretailing.com https://ift.tt/hSE5sdL via IFTTT

// EG Group profits and sales rise in first quarter // The business is owned by Mohsin and Zuber Issa, who also own supermarket giant Asda EG Group has reported a rise in profits and sales in the first quarter following a strong performance in its food business. For the three months to March 31, 2022, the petrol station and food retail business reported a 2% increase in group EBITDA to £215 million and a 25.1% jump in revenues to £5.5 billion. EG Group is owned by Mohsin and Zuber Issa, who also own supermarket giant Asda. READ MORE: Asda owners in talks to merge EG Group with Canadian retail giant EG Group said its foodservice operation saw gross profit increasing 54% year-on-year to £140 million and up 20% on a like-for-like basis. The forecourt giant said foodservice growth continues to be “supported by the group’s pipeline of openings and investment in EG’s existing estate”. EG Group opened a further 26 foodservice outlets in the period around the world, 21 of which w...