All News articles – Page 149
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NewsMorrisons takes stake in MFG as it offloads petrol stations
Morrisons and Motor Fuel Group (MFG) have entered an agreement whereby the former will take a £2.5bn minor stake and the latter will acquire 337 of the grocer’s petrol stations.
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NewsWorkers turn to packed lunches as grocery inflation remains high
While the Red Sea shipping crisis and its effect on global supply chains continue to dominate headlines, stubbornly high grocery inflation dominates customers’ agendas.
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NewsPoundland to give 850 stores biggest ever merchandise makeover
Poundland is to start transforming its stores to include its “biggest makeover in general merchandise” in the company’s history.
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NewsSecret Sales names new chief technology officer
Secret Sales has named Anthony Farrow as its new chief technology officer as part of the marketplace’s bid to narrow its focus amid its ongoing expansion strategy.
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NewsPets at Home drops profit guidance as accessories sales slow
Pets at Home has reduced its full-year profit guidance, reporting sales “not at the level it had expected” as shoppers pulled back on discretionary accessories like beds, collars and leads for their pets.
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NewsShop price inflation falls to lowest level since 2022
Shop price inflation fell in January to its lowest level since May 2022 as food inflation dropped for the ninth consecutive month.
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NewsGovernment ‘won’t turn away’ fruit and veg at Brexit border
With new Brexit checks on food imports to begin later this week, the government has been telling retailers it won’t turn away products over incomplete paperwork.
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NewsIceland boss and ex-Conservative donor Walker backs Labour
Iceland boss Richard Walker has formally backed the Labour Party and its leader Sir Keir Starmer to be the next prime minister.
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NewsFrasers to open in former John Lewis Peterborough site
Frasers is set to take over the former John Lewis store at Queensgate shopping centre in Peterborough as it continues to expand its physical retail estate.
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NewsAsda auditor EY quits in latest blow to Issa brothers
Grocery giant Asda’s auditor EY reportedly resigned last year, despite the exit not being disclosed, in the latest blow to co-owners Mohsin and Zuber Issa.
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NewsTHG to axe HQ and warehouse jobs
Ecommerce giant THG is reportedly laying off 60 marketing and sales employees as well as around 100 warehouse staff across the group.
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NewsSuperdry mulls restructuring as profits and sales continue to tumble
Superdry is considering a restructuring that could involve a “significant number of store closures and job cuts”, following the fashion retailer’s profit warning last week.
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NewsJohn Lewis plans 11,000 job cuts as it slashes redundancy pay
John Lewis Partnership is reportedly considering cutting up to 11,000 jobs over the next five years in its latest bid to return to profitability.
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NewsExclusive: Women account for one in three new retail CEOs
The percentage of new chief executives appointed in the UK last year who were women reached its highest level at 35%.
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NewsLVMH profits and sales grow in ‘another historic year’ for Sephora
Luxury goods conglomerate LVMH reported a surge in sales and profits as beauty giant Sephora delivered an “exceptional performance” for the full year 2023.
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NewsExclusive: Matalan faces stock issues due to Red Sea shipping attacks
Fashion retailer Matalan is battling stock issues as a result of the attacks on container ships in the Red Sea, Retail Week can reveal.
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NewsLidl to invest £70m to support British veg farmers
Discount supermarket Lidl has revealed plans to invest £70m in long-term contracts as part of its commitment to support British vegetable farmers.
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NewsFarfetch investors worried over ‘value destruction’ from Coupang takeover
A group of investors behind Farfetch are concerned over the “value destruction” as a result of Coupang’s acquisition of the global ecommerce giant and have appointed advisers to evaluate their options.
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NewsSuperdry CFO steps down as it issues profit warning
Superdry reported a fall in sales and said it expects full-year profitability to be impacted as it blamed “a challenging consumer retail market” set against ”macroeconomic uncertainty and some remarkably unseasonal weather conditions” for its weakened financial performance.
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NewsWHSmith sales soar driven by ‘strongest ever’ travel division
WHSmith posted growth in sales in the 20 weeks to January 26, 2024, as it achieved its “strongest ever position as a global travel retailer”.