Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Retail resurgence as industry giants plan £500m investments Friday, 10th August 2012
Photo credit: Tesco plc
Tesco, Boots and Nestle were just some of the industry giants to announce major expansion plans in the UK and overseas yesterday, with some £500 million ready for investment.
Speaking at the British Business Embassy’s Retail, Food and Drink summit in London on Thursday, some of the nation’s largest retailers laid out their plans for expansion over the next few years.
According to a report by City AM, Boots chairman Stefano Pessina told attendees the pharmacist would expand its store estate in Thailand by at least 50 per cent to 300 units in the next three years.
Tesco also revealed a renewed focus on its Thai business, with its Tesco Lotus branch planning to open three distribution centres to support its 1,000 stores in the country.
Swiss consumer giant Nestle confirmed it will spend £500 million in UK manufacturing facilities over the next three years as it relocates its healthcare nutrition business from Croydon to Liverpool.
In the money: M&S to launch bank branches Friday, 8th June 2012
Photo credit: Marks & Spencer plc
Marks & Spencer has announced plans to open its first bank branch at its flagship Marble Arch store this summer, before rolling out to 50 larger outlets in the UK over the next two years, according to a report by the Telegraph.
The department store group hopes to cash in on its strong brand identity in the UK, by keeping its banks open twice as long as high street banks, " mirroring M&S store opening hours and enabling customers to bank while they shop, seven days a week".
Marc Bolland, chief executive, said: “M&S is one of the most trusted brands on the UK high street and we’ve achieved this by continually listening and responding to the needs of our 21m customers. This bank will be built on M&S values; putting the customer at the heart of the proposition and delivering the exceptional service that sets us apart from the competition.”
M&S will begin with current accounts for autumn 2012, with the long term view to add a range of services including home loans. It’s thought the launch could provide up to 500 UK jobs by 2013, when a roll out would be well underway.
Links of London arrives in Denmark Wednesday, 10th August 2011The jeweller is set to open a 75 sq m concession at Copenhagen’s prestigious Illum department store on 26 August.
Speaking on the upcoming launch, Links of London CEO Andrew Marshall said: “We are excited about opening in Denmark because, as a stylish, luxury British jewellery brand, we feel we have something to share with the Danes. Links of London has huge success in many of the fashion capitals of the world and the Danes are known for their strong feel for design and creativity. We believe our jewellery, including our iconic friendship bracelet designs, embraces values and a look that will appeal for Danish men and women.”
The move follows Link’s new concession in Wimbledon’s independent department store Elys earlier this month.
TJ Hughes shuts up shop Friday, 5th August 2011
TJ Hughes administrators have announced the closure of the department chain’s 22 remaining stores.
The retailer’s Wolverhampton store will close next Thursday, followed by its Walsall and Kidderminster branches three days later.
Administrators said 1,061 people nationwide will lose their jobs from the closures and they continue to seek a sale of the remaining business and its 31 stores.
Booker’s Q1 sales up 9.5% Wednesday, 6th July 2011Britain’s largest cash and carry wholesaler today posted a rise in first quarter sales, stating it is firmly on course to meet its full-year expectations.
Booker’s 170 branches brought in a rise of 9.5 percent in total sales to 12 weeks to 17 June. Stores open over a year rose 7.4 percent, with non-tobacco sales up 5.7 percent and tobacco sales up 10.1 percent.
The company cited the impact of Easter, an additional bank holiday and favourable weather for the promising figures, and suggested the increase in tobacco sales were linked to the large increase in tobacco duty during the quarter.
"After a good start we anticipate that Booker is on course to meet expectations for the year ending March 30 2012," said Chief Executive Charles Wilson.
Booker shares closed at 69.4p on Tuesday, valuing the business at £1.06 billion.
Waitrose eyes record Little expansion Monday, 4th July 2011Waitrose has announced it will open a record number of branches within the M25 next year, with plans to create up to 1,000 jobs.
The retailer will open up 20 new “Little Waitrose” convenience shops in London by the end of 2012. It will be the largest number of branches Waitrose has opened in the area in a single year since the company’s first shop opened in Acton in 1904.
The news comes as Waitrose puts the finishing touches to its new High Holborn store.
Signet will continue to invest in UK Thursday, 2nd June 2011Despite rumours that Signet is looking to offload its H Samuel and Ernest Jones stores, the jewellery giant has insisted it will keep investing in the UK.
Signet chief executive Mike Barnes told press: “We will continue to make investments [in the UK]. We are moving from certain sites and trialling merchandise… we see an opportunity there.”
Barnes refused to comment on speculation last month that Signet was in the process of sounding out a buyer for its underperforming UK business via its financial advisors at Lazard. A sale would include 400 H Samuel stores and 190 Ernest Jones and would be expected to reach £400 million- £600 million.
In contrast to US like-for-like sales which jumped 12.5 percent, UK sales for the jeweller rose just 0.2 percent in the 13 weeks to 30 April.
Barnes admitted the performance had been led by its US division, while the UK division “continued to operate well in a challenging economy.”