Retail news

• 7-Eleven starts talks with ACT on $47bn takeover bid as ‘white knight’ emerges

  13-11-2024 08:49
  
  Japanese convenience store operator receives rival buyout offer from members of founding family
  
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• Burberry’s new strategy is one check on a long list

  14-11-2024 16:46
  
  Returning to its roots may take luxury retailer back to the root of its problem
  
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• Watch: All of retail’s Christmas 2024 ads, from John Lewis to Sports Direct

  14-11-2024 13:39 via retailgazette.co.uk
  
  As the festive season fast approaches, most major retailers have released their Christmas adverts for 2024.
  With celeb guests ranging from Dawn French and Nigella Lawson to beloved Roald Dahl character the BFG and Kevin the Carrot, there’s truly something for everyone in this year’s Christmas campaigns.
  Retail Gazette takes a look at the Christmas adverts released so far. Let us know your favourite in the comments section.
  John Lewis
  In its highly anticipated festive advert for 2024,
  
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• Alexandre Arnault appointed deputy chief of Moët Hennessy in LVMH reshuffle

  14-11-2024 13:15
  
  Bernard Arnault’s 32-year-old son spent past 4 years at Tiffany
  
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• Burberry jumps after chief vows to ‘act with urgency’ following loss

  14-11-2024 11:19
  
  Stock rises nearly 15% as luxury brand sets out plan to refocus on core products such as trench coats and scarves
  
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• B&M well positioned for Golden Quarter as profits climb

  14-11-2024 10:44 via retailgazette.co.uk
  
  B&M has said it is well positioned for the Golden Quarter as its profits increased in the six months to 28 September.
  Sales at the variety retailer climbed 3.7% to £2.6m, driven by volume growth, as UK revenues also hit £2.1m for the period.
  Meanwhile, group EBITDA edged up 2% to £274m. But group adjusted operating profit fell 1.8% to £258m as B&M faced higher costs following an increase in stores and investment in its supply chain in France.
  In order to futu
  
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• Alexandre Arnault named deputy chief of Moët Hennessy in LVMH reshuffle

  14-11-2024 10:33
  Bernard Arnault’s 32-year-old son spent past 3 years at Tiffany
  
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• Burberry’s turnaround chief plans £40m cuts and ‘scarf bar’ rollout

  14-11-2024 09:56
  
  Shares in fashion brand jump as ‘urgent’ cost-cutting programme announced following half-year lossesBusiness live – latest updatesBurberry has unveiled a £40m cost-cutting programme as its new chief executive pledged to “stabilise the business” with a turnaround plan aimed at reviving the fortunes of the ailing British luxury fashion brand.Joshua Schulman, the former Coach boss who replaced his ousted predecessor, Jonathan Akeroyd, in July, said the company wa
  
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• B&M well positioned for the Golden Quarter

  14-11-2024 09:51 via theretailbulletin.com
  
  B&M has said it is well positioned for the Golden Quarter as it reported that its group revenue increased by 3.7% to £2.64 billion in the... View Article
  
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• John Lewis Christmas ad shows search for perfect gift – video

  14-11-2024 09:30
  
  This year's John Lewis Christmas ad breaks the mould – by actually being about Christmas shopping, without a lovable penguin or snowman in sight. The Narnia-inspired tale is about a woman’s last-minute dash to buy the perfect gift for her sister. There is still magic: like the children in The Lion, the Witch and the Wardrobe, she tips through a rack of dresses into a world of memories that give glimpses of her sister growing up John Lewis Christmas advert this year tells tale of two
  
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• New Burberry boss ‘acting with urgency’ after half-year loss

  14-11-2024 09:16
  Shares rise as luxury brand sets out plan to refocus on core products such as trenchcoats and scarves
  
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• WHSmith posts strong profits and revenues despite high street decline

  14-11-2024 09:13 via retailgazette.co.uk
  
  WHSmith has hailed “excellent” preliminary results for the year ending 31 August 31, with profits and revenues up, driven by strong performances in its travel business, at home and abroad.
  The retailer’s headline group profit before tax rose 16% to £166m while total group revenue was up 7% to £1.92bn.
  In WHSmith’s booming travel arm, trading profit surged 22% to £202m, with travel revenues growing 11% to £1.47bn.
  By region, its UK operations saw a
  
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• WH Smith boosted by strong performance at travel business

  14-11-2024 09:04 via theretailbulletin.com
  
  WH Smith has posted increases in full year sales and profit following a particularly strong performance at its travel business. In the year to 31 August,... View Article
  
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• New Burberry CEO launches ‘urgent’ turnaround plan as it plunges into loss

  14-11-2024 08:55 via retailgazette.co.uk
  
  Burberry’s new CEO Joshua Schulman has unveiled a strategic plan for the ailing luxury retailer designed to “reignite brand desire, improve our performance and drive long-term value creation”.
  The British retailer’s revenue plummeted 20% in the six months ending 28 September, with sales declining in both its retail and wholesale arms.
  It made an adjusted operating loss of £41m, a sharp decline from the £223m profit reported in the same period last year.
  Burber
  
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• New Burberry CEO launches ‘urgent’ turnaround plan after £41m loss

  14-11-2024 08:55 via retailgazette.co.uk
  
  Burberry’s new CEO, Joshua Schulman, has outlined a strategic plan for the ailing luxury retailer, set to “reignite brand desire, improve our performance and drive long-term value creation”.
  The British retailer posted a 20% drop in revenue for the six months ending 28 September, with sales declining in both its retail and wholesale segments.
  Meanwhile it saw an adjusted operating loss of £41m, a sharp decline from the £223m profit reported in the same period last y
  
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• Boohoo losses triple as raises over £39m amid Frasers boardroom battle

  14-11-2024 08:26 via retailgazette.co.uk
  
  Boohoo is set for a festive showdown with Mike Ashley’s Frasers Group, urging investors to reject Ashley’s bid for a board seat at a shareholder meeting next month.
  Alongside this plea, the online fashion giant has also announced it has successfully raised more than £39m in new capital as it grapples with deepening losses.
  In its half-year results for the six months ending August, revenue fell15% to £620m, while pre-tax losses soared from £36.6m to £147.3m.
  Th
  
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• Boohoo losses triple as it raises cash amid Frasers boardroom battle

  14-11-2024 08:26 via retailgazette.co.uk
  
  Boohoo has urged investors to reject Mike Ashley’s bid for a board seat at a shareholder meeting next month, as it posted widening losses.
  The online fashion giant also launched a fundraise yesterday for £39.3m, which it said was “significantly oversubscribed” overnight.
  The retailer’s new fundraising drive will provide “strategic flexibility” as it works to reduce debt and reposition itself.
  In its half-year results for the six months ending August, rev
  
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• Boohoo losses triple as it plans £39m fundraise amid Frasers boardroom battle

  14-11-2024 08:26 via retailgazette.co.uk
  
  Boohoo is set for a festive showdown with Mike Ashley’s Frasers Group, urging investors to reject Ashley’s bid for a board seat at a shareholder meeting next month.
  Alongside this plea, the online fashion giant has also announced plans to raise £39.3m in new capital as it grapples with deepening losses and intensified market pressures.
  In its half-year results for the six months ending August, revenue fe.. 15% to £620m, while pre-tax losses soared from £36.6m to &po
  
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• Thousands of beauty fans queue for the opening of Sephora’s first Birmingham store

  14-11-2024 08:20 via theretailbulletin.com
  
  More than 2,000 people queued in Birmingham’s Bullring & Grand Central yesterday for the opening of Sephora’s latest beauty store. The shop is the French retailer’s... View Article
  
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• Watch: John Lewis unveils ’emotional’ Christmas ad

  14-11-2024 01:01 via retailgazette.co.uk
  
  John Lewis has released its much-awaited Christmas 2024 ad focused on a sister’s quest to find the perfect gift.
  Set to the soundtrack of Richard Ashcroft’s Sonnet, ‘The Gifting Hour’ ad follows Sally dashing into John Lewis’ Oxford Street store on the hunt for a last-minute Christmas present for her sister.
  Falling through a rack of dresses, she enters a fantastical world and stumbles out of the wardrobe in the attic of her childhood home.Sally takes a whimsical jo
  
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• Watch: John Lewis unveils ’emotional’ Christmas 2024 ad

  14-11-2024 01:01 via retailgazette.co.uk
  
  John Lewis has released its much-awaited Christmas 2024 ad focused on a sister’s quest to find the perfect gift.
  Set to the soundtrack of Richard Ashcroft’s Sonnet, ‘The Gifting Hour’ ad follows Sally dashing into John Lewis’ Oxford Street store on the hunt for a last-minute Christmas present for her sister.
  Falling through a rack of dresses, she enters a fantastical world and stumbles out of the wardrobe in the attic of her childhood home.Sally takes a whimsical jo
  
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• John Lewis unveils ’emotional’ Christmas 2024 ad focused on finding the perfect gift

  14-11-2024 01:01 via retailgazette.co.uk
  
  John Lewis has released its much-awaited Christmas 2024 ad focused on a sister’s quest to find the perfect gift.
  Set to the soundtrack of Richard Ashcroft’s Sonnet, ‘The Gifting Hour’ ad follows Sally dashing into John Lewis’ Oxford Street store on the hunt for a last-minute Christmas present for her sister  
  Falling through a rack of dresses, she enters a fantastical world and stumbles out of the wardrobe in the attic of her childhood home.
  Sally takes a whims
  
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• John Lewis Christmas advert this year tells tale of two sisters

  14-11-2024 01:01
  
  This year’s ad is actually about going shopping and features Oxford Street store plus song by Richard AshcroftOver the years its Christmas adverts have featured a menagerie of lovable creatures but this year John Lewis is tugging on heartstrings with a Narnia-inspired tale of two sisters that for the first time gives its struggling department stores a starring role.After last year’s lighthearted outing featuring a cheeky Venus flytrap, the ad is a distinct gear-change. It was filmed
  
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• Homebase in administration: What went wrong and what next?

  13-11-2024 23:25 via retailgazette.co.uk
  
  Homebase plunged into administration today, appointing Teneo, which immediately sold the DIY retailer’s brand, IP and up to 70 UK stores to The Range and Wilko owner CDS Superstores.
  But where did it go wrong for Homebase, and what will happen next? Retail Gazette explores.
  Homebase’s fall from grace
  Homebase’s demise was kickstarted by what GlobalData senior data analyst Matt Walton terms, the “disastrous ownership” by Australian conglomerate Wesfarmers.
  The g
  
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• CDS Superstores acquires Homebase brand and 70 stores as the DIY retailer collapses into administration

  13-11-2024 21:50 via theretailbulletin.com
  
  Homebase has collapsed into administration with 2,000 jobs put at risk, although the bulk of its stores are being acquired by the owner of The Range... View Article
  
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• Boohoo urges investors to reject Mike Ashley’s demand to join its board

  13-11-2024 20:16
  
  The tycoon’s company Frasers is the UK fast-fashion retailer’s largest shareholder and has accused it of mismanagement
  
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• EG Group profits rise driven by ‘strong’ performance in grocery division

  13-11-2024 18:55 via retailgazette.co.uk
  
  EG Group profits rose in the third quarter, driven by a “strong” performance across its grocery and merchandise division.
  For the three months to 30 September, EG Group’s underlying EBITDA jumped 8% to $300m (£235.8m), while grocery and merchandise gross profit increased 4% to $344m (£270.4m).
  Meanwhile, the forecourt operator’s foodservice gross profit rose 4% to $117m (£92m) for the quarter.
  On 31 October, the group completed the sale of its remaining
  
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• M&S expands beauty takeback scheme to 100 stores

  13-11-2024 18:34 via retailgazette.co.uk
  
  M&S has doubled the store footprint of its Beauty Takeback Scheme to an additional 60 stores, bringing the total to 100, in a bid to make the scheme more accessible to customers across the UK.
  The takeback scheme boxes are now available in new locations including Birmingham Bullring, Cardiff, and Inverness.
  Launched in June 2023 as part of the high street giant’s Plan A roadmap to Net Zero, the scheme allows customers to recycle any form of plastic or aluminium beauty packaging –
  
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• Homebase collapses into administration with thousands of jobs at risk

  13-11-2024 18:07
  
  Future of 2,000 staff remains unclear despite the bulk of stores being bought by the homeware retailer The RangeThe struggling DIY chain Homebase has collapsed into administration, leaving thousands of workers facing an uncertain future, despite the purchase of the bulk of its stores by the owner of The Range homeware retailer.Gavin Park, Gavin Maher and Adele Macleod from the financial advisory firm Teneo were appointed as joint administrators of Homebase’s owners, HHGL Limited and Hampde
  
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• Marks & Spencer expands Beauty Takeback Scheme to more stores

  13-11-2024 18:00 via theretailbulletin.com
  
  Marks & Spencer has expanded its Beauty Takeback Scheme to a further 60 stores. Run in partnership with Handle, the scheme is now running in 100... View Article
  
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