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☆ Greggs overtakes McDonald’s to become king of the British breakfast
▼ + stars: | 2024-03-05 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

Brits are going crazy for the bacon and sausage buns offered by Greggs, an 85-year-old chain of budget bakeries that just posted its best-ever performance. Pre-tax profit also jumped more than 13% last year to a record high of nearly £168 million ($213 million). Greggs’ breakfast meal deal — which includes a sausage, bacon or omelette-filled bun and a drink — starts at £2.85 ($3.62), and is particularly popular with customers, a company spokesperson told CNN. Sales grew to a record £1.8 billion ($2.3 billion) last year, up from £1.2 billion ($1.5 billion) in 2021. Greggs café, Tasty by Greggs, inside Primark's Oxford Street store in London in October 2022.

Persons: London CNN —, Greggs, Ireland —, McDonald’s, Roisin Currie, “ Greggs, ” Matt Britzman, Hargreaves Lansdown, Greggs café, John Nguyen, benedict — Greggs Benedict, Still, Alex Morton Organizations: London CNN, Ireland, CNN, Press Association, AP Locations: United Kingdom, Newcastle, England, London, Fenwick

☆ I visited Primark, one of Europe's biggest retail chains, for the first time and I can see why it's taking over the US
▼ + stars: | 2024-02-13 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementOne of the biggest retail chains across Europe is Primark. The first US location opened in 2015 in Boston. Almost 10 years later, there are 16 stores, but Primark aims to open 60 by 2026, it announced in 2021. AdvertisementNew York's Roosevelt Field location opened in November 2022, and spans 44,290 square feet of retail space across two floors, Long Island Business News reported.

Persons: —, Roosevelt Organizations: Service, Island Business Locations: Irish, New York, Europe, United Kingdom, Ireland, Boston, London, Island

☆ The last Sears in the New York area is closing. Just over a dozen remain in America
▼ + stars: | 2024-01-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Sears’ last-remaining store in the New York metro area is closing, bringing the number of Sears locations still in existence down to about a dozen. Following the shuttering of the Jersey City location, the closest Sears for the New York metro area shoppers is 227 miles away in Braintree, Massachusetts. Now, there are only just over a dozen Sears remaining in the continental US. Sears is owned by hedge fund operator Eddie Lampert’s company Transformco. Some suggest that Lampert used the Sears acquisition as a play in the real estate market.

Persons: New York CNN — Sears ’, wasn’t, Sears, Eddie Lampert’s, Lampert, Samantha Delouya Organizations: New, New York CNN, Sears, Kmart, CNN Locations: New York, Jersey City, Manhattan, Newport, Mall, New Jersey, Braintree , Massachusetts, Burbank , California, Washington

☆ The best red carpet looks from the British Fashion Awards 2023
▼ + stars: | 2023-12-05 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —On Monday night, the British Fashion Council orchestrated its annual British Fashion Awards — a star-studded ceremony in London aimed at encouraging new, trailblazing designers, as well as honoring stalwarts of the industry. Across the red carpet, sequins, velvet and red tones conquered in what was a decidedly festive sartorial palette. Gareth Cattermole/Getty ImagesAnne Hathaway stunned onlookers in vintage Valentino. Gareth Cattermole/Getty ImagesRita Ora wore Primark, a nod to her latest collaboration with the high-street retailer. Gareth Cattermole/Getty ImagesPamela Anderson rocked the no makeup look once more, wearing a Gareth Cattermole/Getty Images Europe/Gareth Cattermole/Getty Images

Persons: Anne Hathaway, Gwnyeth Paltrow, Pamela Anderson, Taylor Russell, Paloma Elsesser, Kate Moss, Alexa Chung, Laura Whitmore, Sam Smith, Iris Law, Vivienne Westwood, Caroline Rush, Richard Quinn, Queen Elizabeth II, Neil Mockford, Loewe, Gareth Cattermole, Amal Clooney, Versace, Joe Maher, Dominic Lipinski, Lewis Hamilton, Wales Bonner, Getty, Michaela Coel, Suki Waterhouse, David Fielden, Valentino, Gwyneth Paltrow, Paltrow, Valentino Garavani, Giancarlo Giammetti, Gillian Anderson, Rita Ora, Isamaya Ffrench Organizations: CNN, British Fashion Council, Alexa, Getty Locations: London, British, LA, Europe

[1/8] Waste from international clothing brands is stored before being used to fuel kilns at a brick factory on the outskirts of Phnom Penh, Cambodia November 17, 2023. It found pre-consumer garment waste including fabric, plastic, rubber, and other materials from the brands was being burned at seven factories. The factories were burning garment waste to save on fuel costs, it said. Brick factory workers reported regular migraines, nosebleeds, and other illnesses, the UK report said. LPP said it was unaware its textile waste was being burned in brick kilns, and has contacted its agents responsible for placing orders in Cambodia.

Persons: Lululemon, Co's, Betty, Tilley Endurables, Armour, Lidl, LICADHO, LPP, Tilley, Clare Baldwin, Helen Reid, Katherine Masters Organizations: Cambodian League, Promotion, of Human, REUTERS Acquire, Adidas, Walmart, The Cambodian League, of Human Rights, Reuters, UNDP, Royal Holloway, University of London, Navy, Lidl Stiftung, Reebok, Venus, World, Cambodian Ministry of Environment, Sarom Trading, Thomson Locations: Phnom Penh, Cambodia, Cambodian, Kandal

☆ UK retail sales slide again in October in new blow for economy
▼ + stars: | 2023-11-17 | by ( Andy Bruce | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy. Retail sales volumes dropped 0.3% month-on-month, following a revised 1.1% decline in September that was worse than first estimated, the Office for National Statistics said. Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month in October. Overall the figures fitted with the darkening outlook for Britain's economy, with economic growth stagnant and strong price pressures now fading, albeit slowly. The figures also showed a small downward revision in retail sales for the third quarter.

Persons: Phil Noble, Spencer, James Davey, William James Our Organizations: Shoppers, REUTERS, National Statistics, Reuters, Investors, Bank of England, Retailers, Britain, Tesco, Thomson Locations: Altrincham, Britain

☆ M&S echoes UK peers on early Christmas demand, Ahold looks to loyalty
▼ + stars: | 2023-11-08 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A logo of food and clothes' retailer Marks and Spencer (M&S) is seen at a branch in London, Britain March 10, 2022. "We are definitely seeing good sales performance in our Christmas ranges," CEO Stuart Machin told reporters after M&S reported much better-than-expected first half results. BIGGER FAMILY CHRISTMASM&S's Machin said research showed about 20% of its customers wanted to stock up on Christmas food products "slightly earlier" this year, with most of those customers planning for a bigger family Christmas. Still, the retail bosses are hopeful of strong demand for food, drinks and presents from now until the end of December. Reporting by James Davey; Editing by Sarah Young, Kate Holton and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Marks, Spencer, Toby Melville, Ahold, Stuart Machin, S's Machin, I'm, Machin, James Davey, Sarah Young, Kate Holton, Emelia Organizations: REUTERS, Major, British Retail Consortium, Marks, Tesco, Accenture, Deloitte, PwC, Thomson Locations: London, Britain, Europe, United States

Customers with shopping bags after visiting a Primark clothing store on Oxford Street in London, UK, on Monday, Nov. 6, 2023. U.K. retail sales rose by 2.5% in October, higher than the 1.6% growth of a year ago but below the three-month and twelve-month averages of 3.1% and 4.2%, respectively. The British Retail Consortium, which published the figures, said sales likely declined by volume because of the impact of inflation. Paul Martin, U.K. head of retail at KPMG, said sales "remained weak." As a result, the strong demand that has kept some retailers afloat over the last 18 months is now falling away."

Persons: Paul Martin, Martin, — Jenni Reid Organizations: Oxford, British Retail Consortium, Shoppers, KPMG Locations: London

☆ Primark owner AB Foods expects growth in new year after profit rises 5%
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

It said lower material and freight costs should result in a "substantial recovery" in Primark's gross margin and overall it expects Primark's adjusted operating profit margin to recover strongly from the 8.2% made in 2022/23. "At this early stage we believe that the adjusted operating profit margin will be above 10% with further improvement dependent on levels of consumer demand," it said. For the year to Sept. 16, 2023, it made an adjusted operating profit, its key profit measure, of 1.51 billion pounds ($1.86 billion), up from the 1.44 billion pounds made in 2021/22. Primark's adjusted operating profit fell 3% to 735 million pounds. The group announced an additional share buy back of 500 million pounds after concluding a programme of the same amount last month.

Persons: James Davey, Sarah Young, Miral Organizations: British Foods, Foods, Revenue, Thomson

☆ UK fashion retailer can revive discount price tag
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 7 (Reuters Breakingviews) - Primark’s improved fast-fashion appeal can power a valuation revival. Assuming sales at the retailer were to grow 7% annually, just half of the 15% jump of last year, they would hit 9.6 billion pounds. If margins were to rise to 10%, that would add 235 million pounds to the conglomerate’s operating profit, which stood at 1.5 billion pounds last year, Breakingviews calculations show. If Primark’s input costs keep falling and it successfully expands in the U.S., it can narrow this gap. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Aimee Donnellan, Aston Martin, Lisa Jucca, Oliver Taslic Organizations: Reuters, British Foods, Foods, X, Starbucks, Paramount, Macquarie, Thomson Locations: U.S

☆ UK retailers demand government action on rising crime
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 1 (Reuters) - Some 88 UK retail leaders, including the bosses of Tesco (TSCO.L), Sainsbury's (SBRY.L) and Marks & Spencer (MKS.L), have signed a letter to interior minister Suella Braverman, demanding action over rising rates of retail crime. Rising crime is increasingly becoming a political issue in Britain ahead of an expected national election in 2024. It also put the scale of retail theft at 953 million pounds ($1.2 billion), despite over 700 million pounds in crime prevention spending by retailers. This would require police forces to record all incidents of retail crime. The industry also wants greater prioritisation of retail crime by police forces across the UK.

Persons: Peter Nicholls, Spencer, Suella Braverman, “, Helen Dickinson, John Lewis, James Davey, Alison Williams Organizations: REUTERS, Tesco, Industry, British Retail Consortium, Conservative, John, John Lewis Partnership, Waitrose, Aldi, Thomson Locations: Weybridge, Britain, Manchester

☆ US retailers' financial losses jump as retail crime escalates - NRF
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

In 2022, inventory "shrink" as a percentage of total retail sales accounted for $112.1 billion in losses, up from $93.9 billion in 2021, according to the NRF report on Tuesday. Retailers are either being forced to close a specific store location, reduce operating hours or alter in-store product selection to deal with the spike in retail crime, the report added. Dollar Tree (DLTR.O) has said it plans to remove goods like men's underwear, an item most prone to retail theft, from its stores. Retailers are ramping up prevention methods with 34% of respondents increasing internal payroll to support risks related to retail crime and 46% increasing the use of third-party security personnel among other methods, according to NRF. The NRF survey was conducted online among senior loss prevention and security executives in the retail industry with insights from 177 retail brands.

Persons: Brendan McDermid, David Johnston, John Rainey, Ananya Mariam Rajesh, Savyata Mishra, Siddharth Cavale, Shounak Dasgupta Organizations: Black, REUTERS, National Retail Federation, U.S, Kroger, Asset Protection, Retail, Retailers, Walmart, Telsey, Thomson Locations: Brooklyn , New York, U.S, New York, San Francisco , Los Angeles, Houston, Britain, Bengaluru

☆ British retail sales grow in August after washout in July
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - British retail sales partially recovered in August after a rainy July washout, official figures showed on Friday, adding to signs that the country's consumers were mostly coping with the cost-of-living squeeze. Sales volumes rose by 0.4% on a month-on-month basis after a sharp 1.1% fall in July, the Office for National Statistics said. "These were partially offset by internet sales, which dropped slightly as some people returned to shopping in person following a very wet July. However, August's data represented the sixth time so far in 2023 that sales volumes rose on a month-to-month basis, suggesting resilience in consumer demand. Retail sales volumes were 1.4% lower than a year earlier, the ONS said, compared with economists' forecasts for a 1.2% decline.

Persons: Phil Noble, Heather Bovill, GfK, BoE, William Schomberg, James Davey, William James, Christina Fincher Organizations: REUTERS, National Statistics, Reuters, Office, Bank of England, British Foods, Thomson Locations: Altrincham, Britain

☆ Retail park bounce adds nail to high street coffin
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 19 (Reuters Breakingviews) - Retail parks are a beacon of hope in a gloomy UK property market. Since their 2015 peak, average retail rents have come down by a third, analysts estimate. Retail parks are also good for e-commerce as they allow customers to drop off and pick up orders. That’s not the case on the high street, where business rates and high rents have driven tenants out. Today’s 2.5% rise in its shares suggests investors need more than growing retail parks to be convinced of its prospects.

Persons: That’s, Aimee Donnellan, Francesco Guerrera, Oliver Taslic Organizations: Reuters, Sports, Land, Centre for Retail Research, X, Thomson

☆ Britain faces 'epidemic' of shoplifting as Primark profits hit
▼ + stars: | 2023-09-12 | by ( James Davey | ) www.reuters.com time to read: +2 min

Sadly, in the last year we've seen twice as many offences," Sharon White, chair of the John Lewis Partnership that owns department stores and Waitrose supermarkets, told BBC Radio. Weston said some of the theft was "quite organised" and Primark was also seeing higher levels of anti-social behaviour. His comments echo those of Tesco (TSCO.L) CEO Ken Murphy, who earlier this month said Britain's biggest supermarket chain was offering body-cams to staff who need them. Murphy also called for a change in the law to make abuse and violence towards retail workers a specific offence in Britain. Target (TGT.N), Foot Locker (FL.N) and Dick's Sporting Goods (DKS.N) have all warned that profits have been under pressure from loss of inventory due to theft at their stores.

Persons: John Lewis, It's, we've, Sharon White, White, shoplifters, George Weston, Weston, Primark, Ken Murphy, Murphy, James Davey, Mark Potter Organizations: Police, Foods, John Lewis Partnership, Waitrose, BBC Radio, British Foods, Crown Prosecution Service, Reuters, Tesco, Dick's Sporting, Thomson Locations: Britain, United States

"Increasingly we are going to turn used clothes into raw material from Europe for fashion companies." Also in Spain, rivals including H&M, Mango and Inditex have created a non-profit association to manage clothing waste, responding to an EU law requiring member states to separate textiles from other waste from January 2025. OBSTACLESThe obstacles to significantly reducing clothing waste are formidable, despite the EU crackdown, industry sustainability commitments and initiatives like the Moda Re expansion. Adidas (ADSGn.DE), Bestseller, and H&M (HMb.ST) have invested in Finnish start-up Infinited Fiber Company, which manufactures fibre out of textile waste, cardboard and paper. As in Spain, textile waste associations would be set up in each country.

Persons: Albert Alberich, Inditex, Dijana Lind, Hugo Boss, Lind, Moda, Aissatou Boukoum, Mauro Scalia, Corina Pons, Helen Reid, Horaci Garcia, Nacho, Frank Jack Daniel Our Organizations: BARCELONA, Moda, Caritas, Union, European Commission, Union Investment, Adidas, McKinsey, Reuters, EU, ReHubs, Moda Re, United Nations, Inditex, Puma, Infinited Fiber Company, Thomson Locations: Spain, Barcelona, Spanish, Europe, Zara, Bilbao, Valencia, EU, Frankfurt, ReHubs Europe, Mali, Sant, AFRICA, Cameroon, Ghana, Senegal, Africa, Senegalese, Germany, Texaid, Switzerland, Vestisolidale, Italy, France, EURATEX, Madrid, London, Nacho Doce

London/Hong Kong CNN —H&M has decided to stop operating in Myanmar following an increase in allegations of labor abuses at garment factories in the country. As of March, H&M sourced from 41 factories with nearly 42,000 workers in the country, according to company figures. Its withdrawal comes after new allegations published by the Business and Human Rights Resource Centre (BHRRC), a workers’ advocacy group. The organization has been tracking cases of alleged labor and human rights abuses against garment workers in the country for years. “Things are getting worse for garment workers — and quickly,” the organization said.

Persons: Hong Kong CNN —, ” “, ”, doesn’t, Inditex, Spencer, Primark, “, BHRRC Organizations: Hong Kong CNN, CNN, Business, Human Rights Resource, Chevron, Initiative, Human Rights, Reuters Locations: Hong Kong, Myanmar, Swedish, Zara, Stockholm, TotalEnergies, British, ”

☆ Exclusive: H&M says it will "phase out" sourcing from Myanmar
▼ + stars: | 2023-08-17 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: 1 min

LONDON, Aug 17 (Reuters) - The world's second-biggest fashion retailer H&M (HMb.ST) has decided to gradually stop sourcing from Myanmar, it told Reuters on Thursday, as reports of labour abuses in garment factories in the country increase. H&M became the latest brand to cut ties with suppliers in the country after Zara owner Inditex (ITX.MC), Primark (ABF.L), Marks & Spencer (MKS.L) and others. "After careful consideration we have now taken the decision to gradually phase out our operations in Myanmar," H&M said in an email to Reuters. "We have been monitoring the latest developments in Myanmar very closely and we see increased challenges to conduct our operations according to our standards and requirements." Reporting by Helen Reid, Editing by Matt ScuffhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Inditex, Spencer, Helen Reid, Matt Scuffham Organizations: Reuters, Thomson Locations: Myanmar, Zara

☆ Exclusive: H&M probes Myanmar factory abuses as pressure intensifies
▼ + stars: | 2023-08-16 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +5 min

The BHRRC has been tracking allegations of workers' rights abuses in garment factories since the military junta took power in Myanmar, plunging it into political and humanitarian crisis. There have been 21 cases of alleged abuses linked to Inditex suppliers over the two-year period, and 20 linked to H&M suppliers, according to the report. The Myanmar Garment Manufacturing Association did not reply to a request for comment. It expects its final orders from Myanmar suppliers to ship before the end of this year, but has also increased its presence on the ground. H&M and Bestseller are among 18 brands that are part of the European Union-funded MADE project aimed at improving labour conditions in Myanmar's garment factories.

Persons: Inditex, Spencer, Primark, we've, Karina Ufert, Vicky Bowman, Bowman, Helen Reid, Vanessa O'Connell, Marguerita Choy, Emelia Organizations: Reuters, Zara, Human Rights Resource, Myanmar Labour News, Myanmar Garment Manufacturing Association, Ethical Trade, European Union, European Chamber of Commerce, Myanmar Centre, Responsible Business, Thomson Locations: Myanmar, British, MYANMAR Spanish, Danish

☆ Britain's M&S raises profit outlook after strong trading
▼ + stars: | 2023-08-15 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A Marks and Spencer logo is seen on an advertisement outside of a store in London, Britain, May 23, 2018. The 139-year old group, whose shares have risen 66% so far this year, said it now expected profit growth in its full 2023-24 year, having previously forecast a small decline. Clothing group Next (NXT.L) upgraded its profit forecast earlier this month, lifting it for the second time in three months. M&S said in the first 19 weeks of the year like-for-like food sales grew over 11%, while clothing & home sales were up over 6% on the same basis. Clive Black at Shore Capital, the house broker, said sentiment around M&S had taken a long time to improve after other turnarounds failed to materialise, but he lifted his profit outlook by 9%.

Persons: Marks, Spencer, Toby Melville, Stuart Machin, Clive Black, James Davey, Yadarisa, Rashmi Aich, Kate Holton, David Evans Organizations: REUTERS, Marks, Shore Capital, Thomson Locations: London, Britain, Bengaluru

☆ Global retailers cash in on Barbie movie craze
▼ + stars: | 2023-07-21 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

REUTERS/Arriana McLymoreJuly 21 (Reuters) - Shoppers are snapping up Barbie hoop earrings, perfume, jumpsuits, and dresses as retailers seek to cash in on Friday's Barbie film release, reigniting the craze for the plastic doll and her hot pink, sequin-adorned universe. Mattel says the Barbie movie is expected to boost global sales of Barbie dolls, which declined last year from record growth during the pandemic. A Gap Barbie hoodie for women was available only in size XXS online, while a pair of Barbie Crocs, priced at $59.99 - $10 more than normal Crocs - was sold out on the Crocs website. Luggage brand Beis had a waiting list for all three sizes of suitcases in a Barbie pink, priced at a premium to its usual colour range. Walmart pitched Barbie dolls in varying skin tones and hairstyles at $45 to collectors.

Persons: browses, Arriana, Friday's, Barbie, Jo Ashdown, Ryan Gosling, Ken, Zara Barbie, hoodie, Barbie Crocs, Barbie toothbrushes, James Zahn, that's, Helen Reid, Savyata Mishra, Siddharth Cavale, Nick Zieminski Organizations: REUTERS, Mattel, WPP, Walmart, Hyatt Hotels, Hilton, Thomson Locations: Zara's Soho, New York City, U.S, Bogota, Colombia, Kuala Lumpur, Malaysia

☆ Some San Francisco Safeway stores added gates barring shoppers from leaving unless they scan a receipt. It's an anti-theft measure that has spread across the UK.
▼ + stars: | 2023-07-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Safeway has installed receipt-scanning gates at some supermarkets in the San Francisco Bay Area. The technology has already been rolled out at multiple UK retailers, and shoppers are skeptical. A Reddit post from this spring, meanwhile, showed the gates at another Safeway location in San Francisco. Security gates at self checkouts is more common in the UKAcross the Atlantic in the UK, a handful of retailers already use the receipt-scanning gates at self-checkout areas. Some people have compared the security gates to Costco's receipt-checking system.

Persons: that's, Primark, Betty Yu, Alex Bitter Organizations: Safeway, San Francisco Bay Area, Service, California Safeway, San Francisco Chronicle, University of California, Daily, Morrisons, Costco, Sun, Twitter, Walgreens, CBS, KPIX, Area Locations: San Francisco Bay, Wall, Silicon, Bay, Berkeley, San Francisco ., Edinburgh, San Francisco

☆ With $10 Dresses and No Online Selling, This Budget Retailer Is Taking On America
▼ + stars: | 2023-05-15 | by ( Trefor Moss | ) www.wsj.com time to read: 1 min

Primark has become one of Europe’s fastest-growing retailers with a strategy almost unique among big fashion brands: shunning online sales. Now it is plotting a major U.S. expansion.

☆ Ending the retailers’ crisis has a high price tag
▼ + stars: | 2023-05-02 | by ( Aimee Donnellan | ) www.reuters.com time to read: +5 min

BARCELONA, May 2 (Reuters Breakingviews) - High-street retailers are facing a heavy bill to weather the cost-of-living crisis. The cost of heating stores and staff requests for pay rises are squeezing operating margins at top players like H&M (HMb.ST) and Next (NXT.L). Shrinking disposable income is making it hard for these retailers to boost sales to protect margins. Most bricks-and-mortar retailers trade on higher multiples than they did before the war in Ukraine sparked soaring inflation. But that leaves a squeezed middle of retailers like H&M exposed to the brunt of the retail crisis.

☆ Cut-price fast-fashion retailer Primark is eyeing an ambitious US expansion, opening stores across southern states like Texas and Florida
▼ + stars: | 2023-04-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

It will open new stores across the South, including Texas, "anchored" to a new warehouse in Florida. It said that in the coming months it expected to sign leases for stores across the South, including in Texas. It has also signed leases to open stores in Orlando, Florida and Jersey City, New Jersey. "The first Florida store has shown us that we're relevant in that market," Weston told investors. As of March 4, Primark had 419 stores globally, with nearly half in the UK.

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