Interesting retail update. M&S full speed ahead despite the cyber attack setback, Addidas cyber attack and more…
What’s been happening in retail this week? · Aldi UK plans 10 new stores and 30 upgrades in 14 weeks, aiming for 40 openings this year. Backed by a £650m investment, each store will create 40 jobs, with pay up to £14.05 an hour inside the M25. · Marks and Spencer is opening 12 large standalone food stores on former Homebase sites, creating 550 jobs. Eight will be trading by July 2026, as part of a plan to reach 420 larger stores by 2027/28. · Co-op is rolling out electronic shelf labels across all 2,400 stores by end-2026, displaying live prices and promos. The rollout reaches 1,500 stores this year in partnership with VusionGroup. · The Very Group launched a new boutique fashion range with 100+ premium summer-ready pieces, including occasionwear and essentials. Flexible payment options are available for customers. · Comet is being relaunched under OnBuy, with CEO Cassion "Cas" Paton now leading both brands. A £10m investment is planned to bring Comet back by Q4 2025, integrated into OnBuy’s electronics platform. · adidas confirmed a cyber-attack affecting customer contact data, though no payment or password details were exposed. The breach is under investigation. · Home Bargains opened a £400m automated warehouse in St Helens, supporting 300 stores with 80% automation. The site employs 1,000 people as the retailer targets up to 1,000 UK stores. · Modella Capital has exited the race to buy Poundland & Dealz, leaving Hilco Global and Gordon Brothers as frontrunners. The buyer will inherit £30m in debt and a potential 100 store closures. · SHEIN is preparing a Hong Kong IPO after delays to its London listing, as regulatory and trade tensions persist. · Kingfisher plc saw Q1 sales rise 2.2% to £3.3bn, with B&Q up 7.9% like-for-like and UK & Ireland up 6.2%. Online now makes up 20% of sales, though France and Poland declined. · PDD Holdings (Temu) posted a 47% profit drop to £1.5bn for Q1 2025/26, despite 10% revenue growth to £9.8bn. US tariffs, EU fees, and the end of the $800 de minimis rule weighed on margins. Temu stopped direct shipping to US customers from China. · Pets at Home reported a 14.1% profit rise to £120.6m for the year to March 2025, driven by a 23.3% uplift in its vet business. However, retail revenue fell 1.8% and profit declined 16.6% This is just a selection of news this week. Sign up below for more insight ⬇️ https//lnkd.in/d-z25aM
