All General merchandise articles
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NewsTGJones owner explores potential sale of head office and distribution centre
TGJones’ owner Modella Capital is exploring the possibility of selling the freehold on its Swindon head office and distribution centre in the future, Retail Week can reveal.
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NewsWatchdog considering investigation into WHSmith profit overstatement
The UK accounting regulator is considering whether to launch a formal investigation into PwC’s auditing of WHSmith following a £30m profit overstatement in its North American division.
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NewsHobbycraft reports ‘strong trading’ after loss-making year
Specialist retailer Hobbycraft is now in a position to “prosper” after previously suffering a fall in annual earnings, Retail Week can reveal.
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AnalysisExplainer: What are the implications of WHSmith’s US accounting blunder?
WHSmith chief executive Carl Cowling has resigned after six years at the helm following an investigation into an accounting error at the flagship US business. Retail Week explores the significance of the latest developments
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NewsWHSmith boss resigns following accounting investigation
WHSmith group chief executive Carl Cowling has stepped down from his role after an accounting investigation.
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NewsThe Works ‘pleased with progress’ despite broadly flat sales
The Works said it was “pleased with the progress” of its new strategy, despite reporting broadly flat sales growth in the first half.
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NewsKenji secures new funding as it eyes international and store expansion plans
Retailer Kenji has struck a new funding deal with HSBC to support its acquisition of a new warehouse and to push forward with plans to open multiple new high street stores.
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AnalysisSainsbury’s boss Roberts decks the halls with bumper profits as he looks towards Christmas
As Sainsbury’s upgraded its full-year profits to more than £1bn, chief executive Simon Roberts spoke about the consumer outlook heading into Christmas, what’s happening with the future of Argos, and the Budget.
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NewsTemu EU profits more than double as low prices draw customers
Online giant Temu’s EU business more than doubled pre-tax profits last year to almost $120m.
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Opinion‘B&M shouldn’t throw baby out with bathwater as it downgrades store standards’
The back to basics strategy being enacted by B&M’s new chief executive makes sense but these days that must include store standards, believes George MacDonald
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AnalysisThe City’s verdict after B&M goes ‘back to basics’
Yesterday, value retailer B&M’s new chief executive unveiled a “decisive” plan to get the brand back on track after it issued a profit warning. Here’s how the City responded to his “back to basics” approach.
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NewsTemu accused of paying ‘negligible’ tax in the UK despite ‘enormous sales’
Temu’s UK arm has been accused of not paying corporation tax in the UK for two years despite enjoying “enormous sales” in the region, Retail Week can reveal.
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AnalysisExplainer: Implications of Sainsbury’s surprise on-off Argos sale talks
In the space of a weekend, it was revealed that Sainsbury’s was considering selling its Argos general merchandise division to Chinese colossus JD.com, and then that talks were over. Retail Week examines the implications
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Opinion'WHSmith’s American dream takes on nightmarish hue'
A profit warning from WHSmith after the discovery of accounting problems at its US arm came as a huge shock, but comparisons with Tesco at its lowest point may be overdone, believes Retail Week’s George MacDonald
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NewsWHSmith issues shock profit warning
WHSmith, which sold off its UK high street arm earlier this year to focus on its travel operations, has revealed a financial review found an overstatement of £30m in headline profit in its North American division.
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NewsCourt to have final say on Poundland restructuring after creditor pushback
Creditors have failed to fully back value retailer Poundland’s restructuring plan, meaning a final decision will be made at a court hearing next week, Retail Week understands.
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AnalysisPoundland poised to press button on £1 price rollout as it awaits restructuring green light
Assuming the value retailer wins support for its turnaround plans in the next few days, boss Barry Williams thinks it could make a comeback as swift as its decline. Here, he tells Retail Week about his plans to make Poundland a favourite with shoppers once again
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NewsDobbies optimistic on turnaround prospects as restructuring costs hit earnings
Garden centre group Dobbies has posted steeper storical losses but bosses are pleased by the early results of a revival plan.
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NewsHobbycraft announces it will shut more stores
Hobbycraft has announced that it will be closing more stores this month and in September.
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InterviewTheo Paphitis: I’ve owned Ryman for 30 years, and this is what I’ve learned
Three decades ago, entrepreneur Theo Paphitis bought stationer Ryman out of administration. He built the business up and became one of the UK’s most recognisable businesspeople, but Covid almost killed Ryman.