Inside Retail

JANUARY 28, 2024

Amid increased interest in Australian brands and the beach apparel category, Australian women’s fashion brand Tigerlily is considered as good as sold by its current owners, private equity company Crescent Capital, which is seeking to capitalise on the current market. This comes after Australian swimwear brand Seafolly was sold in mid-2023 for about $70 million to a mystery HK-registered entity, Bondi Brands Group, that was only incorporated in June 2023.

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Retail Gazette

JANUARY 28, 2024

Superdry is drawing up plans to close UK stores and cut rents as the group works with advisers at PwC on restructuring plans. Options for the retailer could include a company voluntary arrangement (CVA). The struggling business has been attempting to negotiate consensual rent cuts on problematic stores. Superdry currently operates 216 shops, with 96 based in the UK.

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Inside Retail

JANUARY 28, 2024

Shein will launch its first Brisbane pop-up, the online fashion and lifestyle retailer’s sixth pop-up store in Australia. The new shop follows the successful pop-up launches in Sydney and Melbourne. “We look forward to celebrating summer with Shein fans at our beach club-themed pop-up, inspired by the sun-kissed beaches in Australia,” said a spokesperson for Shein.

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Retail Gazette

JANUARY 28, 2024

Accounting firm EY has resigned as auditor to Asda as one of its senior partners beginning a romantic relationship with Mohsin Issa. Although the accountant told Asda of its decision back in July, the grocer has not made any public announcement regarding EY’s exit in filings to Companies House or in senior management’s recent questioning by MPs.

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Customer Experience

Inside Retail

JANUARY 28, 2024

Woolworths has flagged weaker performance of its New Zealand food operations and Big W businesses in the first half of the current fiscal year. The supermarket chain forecasts its New Zealand unit to book $65.7 million (NZ$71 million) in earnings before interest and taxes, down 42 per cent from a year ago. This includes about $12 million of costs associated with the transformation of Woolworths New Zealand.

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Retail Gazette

JANUARY 28, 2024

John Lewis is planning to cut up to 11,000 jobs as part of its turnaround. The retail giant is looking to slash more than 10% of its 76,000 workforce over the next five years as it plans to reduce its cost base by £900m. Sources expect the cuts to impact the company’s central London head office and John Lewis staff most heavily. The Guardian reported that number of roles in the business is expected to gradually reduce over several years via redundancies and not replacing staff who leave.

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Retail Gazette

JANUARY 28, 2024

THG is planning to slash 160 jobs across its marketing, sales and warehouse teams. Around 60 marketing and sales roles are set to be cut at the online and tech business. It has started a consultation to axe jobs at Ingenuity, its ecommerce services platform, that will run until the middle of March. Additionally, the group is planning to slash around 100 roles at its Warrington warehouse after the automation of its factories.

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Inside Retail

JANUARY 28, 2024

China’s supportive policies and improving economic data in Europe will boost European luxury companies, Barclays says, raising its rating on the sector to “overweight” After a post-pandemic splurge that fuelled robust sales growth for high-end fashion companies over two years, consumers have been reining back purchases, particularly younger, less wealthy clientele that are more vulnerable to rising inflation.

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Retail Gazette

JANUARY 28, 2024

Shein is set to overtake Zara during the next two or three years, according to GlobalData. New figures from the data analytics company indicated the retailer brought in over £1.3bn in UK clothes sales in 2023. Shein currently holds 2.2% of the UK’s £60.3bn clothes market while Zara sits at 2.4%, the research firm reported. Shein officially became the largest fashion retailer in the world in 2022, despite facing accusations of labour law violations and design theft.

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Inside Retail

JANUARY 28, 2024

Renowned activewear brand Lululemon has unveiled a Lunar New Year campaign featuring the iconic Academy Award-winning actress Michelle Yeoh as part of its focus on promoting holistic well-being for all demographics. Set against the picturesque backdrop of Jingning and Xiandu’s mountainous landscapes, the campaign centres on a short film entitled “Be Spring,” which celebrates the Year of the Dragon and weaves together the artistry of Wing Chun martial arts and theatrical dance.

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RIS News

JANUARY 28, 2024

ShopRite’s latest launch at a New York store location has unlocked tangible gains, including a 70% reduction in staging room requirements with no impact on order volume. Learn more.

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Inside Retail

JANUARY 28, 2024

American fast-food chain Chipotle made headlines last Wednesday when it announced it would be providing updated benefits for its approximately 110,000 employees and the upcoming surge of workers it is planning to hire this year. Over the next few months, Chipotle plans to hire about 19,000 new employees to prepare for its busiest period of the year – from March to May, which famously has been dubbed “burrito season”.

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Hyken

JANUARY 28, 2024

Each week, I read many customer service and customer experience articles from various resources. Here are my top five picks from last week. I have added my comments about each article and would like to hear what you think too. What Can Disneyland Teach Us about the Customer Journey? by Tricia Cleppe-Fortier (MyCustomer) Why is Disneyland the most magical place on earth?

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Checkout Customer Experience Customer Retention Accounting 62

Retail Adventures

JANUARY 28, 2024

NRF 2024: Retail’s Big Show brought together industry experts and thought leaders to discuss the latest trends and innovations shaping the future of retail. With over 40,000 attendees, 100 speaking sessions, and 1,000 exhibitors this year, the conference is the world’s leading annual retail event. After a meeting with RetailWire’s BrainTrust panel of retail executives, analysts, consultants, and academics to break down the big themes of the conference, we’ve collected some key insights and refle

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Generative AI is poised to redefine B2B, but scaling AI success in this space isn’t without obstacles. From fragmented data sources and complex buyer journeys to operational inefficiencies, the road to AI-powered growth can be challenging. To achieve a competitive edge, understanding your organization’s AI-readiness is essential. Orium's Data & AI Maturity Model provides a quick, actionable way to assess your starting point.

Customer Experience

Inside Retail

JANUARY 28, 2024

The Federal Government’s policies to reduce inflation and cost-of-living pressures could be the last roll of the dice for thousands of struggling retailers. Insolvency specialists are forecasting a shakeout of struggling retailers facing expected tightening economic conditions and legacy debt. While none of the practitioners have made bold predictions of the number of retailers at risk, they forecast an increase on the 10,566 business failures recorded for the 2023 financial year.

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Inside Retail

JANUARY 28, 2024

This is no surface-level makeover; Banana Republic has gone back to its heritage roots to amplify its brand. No longer merely a mall brand, Banana Republic has become a heavy lifter for its parent company, retail conglomerate Gap Inc, under the leadership of CEO Sandra Stangl who joined the brand in December 2020. Shortly after his appointment, Gap Inc reported a US$16 million net loss in the fourth quarter of 2020, with Banana Republic’s sales dropping two per cent from 2019 levels.

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