Today’s news in brief-13/10/23

The John Lewis Partnership has appointed Martin Gafsen as its new director of property. Gafsen, previously the interim corporate finance director at Royal Mail, brings extensive experience in property management. He led the strategy for Royal Mail's nationwide freehold and leasehold estate for 16 years. Additionally, Gafsen was responsible for major investment projects and mergers and acquisitions during his tenure at Royal Mail. His early career included roles as a solicitor and work in corporate finance at Paribas investment bank. Gafsen is set to officially assume his position on November 13. Sainsbury's is hiring an additional 22,000 seasonal workers, starting as early as this week. These temporary employees will play vital roles in serving customers, restocking shelves, and fulfilling online orders. The recruitment drive also includes 2,000 new positions at Argos. Sainsbury's has sweetened the deal for its staff, enhancing the colleague discount offer to 15% at Sainsbury's every Friday and Saturday, along with 15% off at Argos every payday Friday. Temporary employees will also receive a second discount card for a family member or friend at the same address, as well as complimentary food during shifts. Prerana Issar, chief people officer at Sainsbury’s, expressed eagerness to welcome both new and returning faces this holiday season. Dunelm has received validation for its greenhouse gas emissions targets from the Science Based Targets initiative (SBTi). This makes Dunelm one of the first companies globally to set short and long-term company-wide emission reduction targets in accordance with climate science. The targets, based on a 2019 baseline, include achieving net-zero greenhouse gas emissions across the value chain by 2040, reducing absolute scopes 1, 2, and 3 GHG emissions by 50% by 2030, and reducing these emissions by 90% by 2040. The validation comes ahead of the release of Dunelm's Sustainability Report, underlining its commitment to sustainability. Boots has reported a remarkable 12.5% increase in revenues, attributed to strong sales in skincare and luxury beauty products. Sales of skincare products surged by nearly 25%, with the company's own label skincare range experiencing over a third increase. Luxury beauty item revenues also saw an impressive 20% boost during the fourth quarter. Online transactions on the Boots website increased by around 24%, and the number of active Advantage Card users reached its highest level in three years. These results mark Boots' tenth consecutive quarter of market share growth. Miniso has secured a five-year lease for its new flagship store on Oxford Street. The property, situated at the eastern end of Oxford Street, offers approximately 3,200 sq ft of retail space on the ground floor. This move follows similar agreements with brands like Claire’s, Ann Summers, and Intimissimi, reflecting a growing trend of retailers expanding their presence on Oxford Street. Ikea has reported impressive sales of €47.6bn (£41.1bn) for the year ending August 2023, representing a 6.6% increase compared to the previous fiscal year. Notably, despite facing challenges in sales quantity, the company's UK sales rose by 11.9% to £2.46bn. This surge is attributed to more customers seeking home-related products amid the ongoing cost-of-living crisis. Online sales accounted for 23% of Ikea's total sales, with over 3.8 billion visitors to its online channels.

Today’s news in brief-13/10/23

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