UK retail footfall drops 0.7% YoY in November 2023

IKEA US lowers prices and provides employee bonuses; Sainsbury's unveils new store in Edinburgh, Scotland; and Kroger's operating profit grows to $912m in Q3 FY23

View in browser View in browser  |  Forward to a friend  | Signup In Brief December 04, 2023 | Up-to-date international news and features on the global retail industry Spotlight UK retail footfall drops 0.7% YoY in November 2023 Among the UK regions, Wales reported the smallest YoY drop in footfall at 0.4%, followed by Scotland with 0.9%. Answer our poll question Latest news IKEA US lowers prices and provides employee bonuses The company is also using a $2.2bn investment to open new stores and pickup points across the country. Sainsbury's unveils new store in Edinburgh, Scotland The store features fruit and veg, fresh food, cupboard staples, food-to-go, cupboard staples and freshly baked goods. Kroger's operating profit grows to $912m in Q3 FY23 The retailer expects adjusted diluted earnings per share of between $4.50 and $4.60 for the full year 2023. Express records net loss of $36.8m in Q3 FY23 The retailer expects a full year diluted loss per share of between $46.00 and $50.00. Seven & i Holdings acquires 7-Eleven Australia The deal marks a significant milestone in Seven & i's journey to expand the 7-Eleven empire. Vans owner VF Corp eliminates 500 jobs in a restructure The company expects to save $300m by cutting spending in non-strategic areas. Instacart and Wegmans to bring alcohol delivery to New Jersey, US Orders can be fulfilled in as little as an hour, while shoppers can schedule deliveries for days in advance. Read more news In-depth read Luxury goods, digitalization, and personalization identified as key drivers of the duty-free retail market The global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. GlobalData network Packaging Gateway   |   Just Style   |   Just Drinks   |   Just Food Thank you for reading. Please send any news or comments to: consumer.editorial@verdict.co.uk Contact us LinkedIn | Twitter Editorial consumer.editorial@verdict.co.uk Advertise with us Click here About Retail Insight Network retail-insight-network.com is one of a network of 30+ proprietary B2B websites, with an unrivalled global audience of active decision makers, influencers, and opinion leaders across the world with a combined readership of 55 million industry professionals each year.   Was this email forwarded to you? Sign up here GlobalData, John Carpenter House | Registered in England No. 03925319, John Carpenter Street, London, EC4Y 0AN, United Kingdom Unsubscribe Manage Preferences London