Category Archives: retail

Greggs has expanded far too fast, claim critics

Greggs is a staple of the High Street, serving up a diet of affordable pastries, sandwiches, and sweet treats. However, a series of profit warnings has knocked the stuffing out of the bakery chain’s share price, which has halved in the past year, leaving investors queasy ahead of this week’s trading update.

The latest alarm was sounded in the summer when chief executive Roisin Currie blamed the hot weather for stifling customers’ appetite for steak bakes and sausage rolls, both vegan and meat varieties.

Despite the setbacks, Greggs is pushing ahead with ambitious expansion plans. Up to 150 new stores are set to have opened by the end of this year as part of a wider drive to hit a total of 3,000 outlets. Greggs has also been extending opening hours across its stores and has rolled out more evening meals, including pizzas, chicken goujons, and hot baguettes.

In a new venture, Greggs opened its first pub yesterday in the Fenwick department store in Newcastle upon Tyne, serving local beers alongside 15 Greggs-inspired dishes.

“Questions as to whether Greggs has expanded too far, too fast and made its menu too complicated have added to wider worries over the state of the UK economy,” said Russ Mould, investment director at stockbroker AJ Bell.

The high street baker was a clear winner during the cost-of-living crisis, overtaking McDonald’s as Britain’s most popular breakfast venue. However, like other retailers, it has been hit by rising costs, especially from the employer National Insurance increase in last year’s Budget.

“The broader consumer spending environment remains fragile,” said Aarin Chiekrie, equity analyst at the investment platform Hargreaves Lansdown. “While Greggs has relied on price increases to support like-for-like sales growth, the company must be careful not to stretch customer tolerance too far,” he added.
https://www.thisismoney.co.uk/money/markets/article-15139501/Greggs-expanded-far-fast-claim-critics.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Farewell Amazon Fresh: the no tills thing was all a bit too awkward | Jason Okundaye

Amazon Fresh, the till-free grocery shop that uses just walk-out technology, is closing all 19 of its stores in London, just under five years after opening its first outlet. If that sounds weird and disorienting, then I can assure you, having visited an outlet out of pure curiosity and having left distressed, it truly is.

Among the reasons given for the venture’s failure—ranging from location choices to struggling to differentiate itself in the market—one financial analyst suggested that till-less technology always felt a little awkward. When I visited, I wasn’t totally clear on how to get in or, frankly, how to get out.

A sense of panic overwhelmed me as I wondered if the sensors would process me changing my mind about an item and putting it back on the shelf, or charge me for it. Would I be prosecuted if, say, a large box of cereal blocked the sight of a tin of sardines and thus escaped the sensors? Of course, every store has CCTV equipment, but the idea that sensors and cameras could be connected to my phone and track every item I touched felt like big tech overreach—surveillance on steroids.

The fact that you could just walk out of a shop without pressing pay seemed strangely incongruous with the direction of other grocery stores. Around two years ago, the big Sainsbury’s down the road installed scan-receipt-to-exit barriers, a technology I first saw in Paris and has since been rolled out to many other big supermarkets. It is truly a nightmare.

Not only does it feel like you’re going through an airport when you’re just picking up a meal deal, but the scanner is repeatedly faulty, often resulting in a pile-up of people trying to exit. Then, there is the failure of self-scan checkouts. These tills were meant to save time, but that possibility immediately collapses once there’s an unidentified item in the bagging area or the overwhelmed shop assistant has to approve someone’s age.

You might then think the idea of a till-free checkout would be a relief. But if anything, when you’re made to feel so distrusted and burdened by inconvenience, it feels far more like a setup. No till? Surely someone is waiting on the other side ready to bundle me into a police van over an unscanned pot of pesto pasta.

Mostly though, the failure of Amazon Fresh reveals that we are simply not ready for technology like this. It is the kind of futuristic development that you might have imagined would totally change the face of high street shopping, but shoppers have roundly rejected it. Like our reluctance to take up self-driving cars, it’s about a lack of trust in being totally at the whim of technology.

Some stores have been able to win over the public. The Japanese casual wear brand Uniqlo’s self-checkout technology is pretty frictionless and genuinely loved. But even then, as a frequent Uniqlo shopper, while the convenience is nice, it makes me feel strangely isolated.

We need, and maybe even like, other people. Whether it’s grocery or clothes shopping, having a little chat or a flirt with a store assistant makes the experience. Recently, after a frustrating and failed attempt to find a suit for a wedding, I soothed myself by spending far too much money on a lovely knitted jumper at Drakes on Savile Row. The shop assistant told me I looked good in it and, seeing how flustered I was, offered me an espresso. For that alone, I’ll be back to blow more of my money.

Of course, I don’t expect that treatment on the high street or in a grocery store, but I do find myself missing the small comments of “I love these crisps, my favourite” at a supermarket till. And queueing, though I’ll rue saying this during the post-work rush, is not all bad. One of my favourite things to do in a supermarket queue is peer into other shoppers’ baskets to make a guess about what kind of evening they’re having or what kind of life they live.

If you can simply walk out, you might save some time, but you’ll learn less about the people around you—while a computer gets to know it all.
https://www.theguardian.com/commentisfree/2025/sep/27/amazon-fresh-store-closing-technology-shopping

Shake-up at the top for billionaire-backed budget retailer

The chief executive of Best & Less has left after just nine months in the role, marking the second early departure of a CEO at the budget retailer within a short period.

Aaron Faraguna, who previously served as chief executive at JD Sports and chief operating officer at David Jones, was appointed to lead Best & Less in January. However, the company has now confirmed that Faraguna has tendered his resignation.

In a statement, Best & Less announced that Ray Itaoui, executive chairman of Best & Less Group, has assumed day-to-day responsibilities to maintain business continuity. Faraguna will continue to be available to ensure a smooth handover, the spokesperson added.

Faraguna had publicly announced his appointment as CEO of Best & Less on LinkedIn earlier this year, expressing gratitude to Itaoui for believing in him and offering the opportunity to lead “such a talented and passionate team.”

Founded in 1965, Best & Less operates more than 200 stores across Australia. The clothing and homewares retailer is co-owned by Ray Itaoui — who became CEO of Sanity in 2007 and purchased it two years later — alongside billionaire businessman Brett Blundy.

Itaoui had personally recruited Faraguna from sneaker chain JD Sports, reconnecting after Faraguna began his retail career at Sanity in 1999. Describing the appointment earlier this year, Itaoui told The Australian Financial Review that Faraguna was “exactly what we are looking for” and possessed “the energy we need.”

Before Faraguna’s appointment, Best & Less had announced in April 2023 that former The Iconic CEO Erica Berchtold would be joining as its incoming chief executive. However, in May, Itaoui and Blundy made a takeover bid for the discount fashion retailer.

By late June — months before Berchtold was due to start in September — the company and Berchtold agreed not to proceed with her appointment. Itaoui then assumed the CEO responsibilities himself.

In July 2023, Itaoui and Blundy delisted Best & Less from the Australian Securities Exchange, privatising the company two years after its initial public offering.

Reflecting on the role, Berchtold told Australian businessman Mark Bouris on his podcast, The Mentor, in August 2023: “I resigned, I quit my job, I signed up. I wasn’t allowed to start straight away, and that was fine because I wanted to do the right thing by The Iconic and see out my notice period. During that notice period, the company got bought out, privatised, and the role I wanted — the role I signed up for — was no longer the role that was there. That role just wasn’t there anymore.”

Today, Itaoui co-owns Best & Less alongside Brett Blundy, who is also the founder of Lovisa and holds a 40% stake in Dissh.

A spokesperson for Best & Less declined to answer further questions, and Itaoui was unavailable for interview.

In the 12 months to June 30, 2024, Best & Less reported a 2.2% decline in sales to $625.1 million. Despite the fall in revenue, net profits nearly doubled to $17.5 million from $9.1 million in 2023, according to the company’s most recent financial report filed with the corporate regulator.

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https://www.theage.com.au/business/companies/shake-up-at-the-top-for-billionaire-backed-budget-retailer-20250919-p5mwhn.html?ref=rss&utm_medium=rss&utm_source=rss_business

Apple renews lease, expands office space in Mumbai’s BKC

**Apple Renews Lease, Expands Office Space in Mumbai’s BKC**

*By Akash Pandey | Sep 19, 2025, 01:31 PM*

**Overview**

Tech giant Apple has renewed and expanded its office lease at Maker Maxity, a prominent commercial tower located in Mumbai’s Bandra-Kurla Complex (BKC). This move underscores Apple’s growing business operations in India and its commitment to strengthening its presence in the country’s financial capital.

**Lease Expansion Details**

Apple now occupies five floors at Maker Maxity. The renewed lease covers office units on the 5th, 6th, 7th, and 8th floors of the building. Additionally, the company has signed a new lease agreement for the entire 10th floor, including the terrace area.

In total, Apple’s leased area in the building has expanded to 37,549 square feet across these five floors.

**Rental Agreement and Terms**

According to the lease agreement, Apple will pay a monthly rent of ₹2.55 crore starting June 2026. This rate translates to ₹660 per square foot per month. The lease term is set for 55 months with an annual rental escalation of 4%.

Apple has also paid a security deposit of ₹22.76 crore to the lessor, Agni Commex LLP, as part of the deal.

**Strategic Growth in India**

Apple’s expansion in Mumbai is part of its broader strategy to increase its footprint in India. Over the past two years, the company has opened two company-owned retail stores in Mumbai and Delhi.

In line with its global supply-chain diversification strategy, Apple has also been strengthening manufacturing partnerships within the country.

**Growing Presence Across India**

Beyond Mumbai and Delhi, Apple recently launched a third exclusive retail store in Bengaluru and plans to open additional outlets in Pune, Noida, and Borivali.

On the corporate front, the company maintains a large office in Bengaluru, has leased over 64,000 square feet in Hyderabad, and operates offices in Gurugram and Mumbai.

Apple’s lease renewal and expansion at Maker Maxity signify the company’s continued confidence and long-term commitment to the Indian market as it deepens its operational and retail footprint across the country.
https://www.newsbytesapp.com/news/business/apple-strengthens-mumbai-presence-with-lease-renewal-new-floor/story