Health & Beauty
The latest news, updates and analysis on the health and beauty segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Jul- 2023 -31 July
Lush pays bosses £5m in bonuses after claiming same amount in support
Lush reportedly paid its managers £5m in bonuses last year despite taking £5.1m in government support and posting a 90% fall in profits, The Guardian has reported. It reported that these bonuses were paid on top of salaries in 2022 to directors, including the co-founder, Mark Constantine, and his wife,…
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26 July
Boohoo ups stake in Revolution Beauty amid falling shares
Boohoo has increased its holdings in Revolution Beauty from 26.4% to 27.1%, as shares in the online makeup retailer continue to fall. As of Monday (24 July), the share price in the cosmetics giant dropped by more than 7.5%. The group increasing its holdings comes after both companies have been…
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24 July
Revolution Beauty faces FCA probe over market abuse
Revolution Beauty has revealed that the Financial Conduct Authority (FCA) has launched an investigation into the retailer over potential breaches of market abuse regulation. The investigation will examine potential breaches that occurred between July 2021 and September 2022. Revolution Beauty said in a statement: “The Financial Conduct Authority has today…
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18 July
Revolution Beauty CEO and chair step down amid Boohoo settlement deal
Boohoo and Revolution Beauty have brought an end to their ongoing feud with the signing of a settlement agreement that will see major board changes at the beauty retailer. As part of the agreement, CEO Bob Holt OBE and chairman Derek Zissman agreed to resign from Revolution’s board, although Holt…
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12 July
Superdrug profits soar 71% in 2022
Superdrug has revealed that pre-tax profit soared by 71.7% to £77.8m in 2022, against the prior year’s £45.3m, as online trading volumes continued to track significantly ahead of pre-pandemic levels. The health and beauty retailers also saw a 17% surge in sales to £1.3bn in 2022, up from £1.1bn in…
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11 July
Revolution Beauty says it could reach compromise with Boohoo
Revolution Beauty Group reportedly believes that a compromise with Boohoo could be reached in the coming days. The news comes after the cosmetics group said it will organise a general meeting on 7 August 2023. The board of the company has unanimously recommended that shareholders vote against all of Boohoo’s…
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5 July
Superdrug appoints new healthcare director
Superdrug has announced the appointment of Ghada Beal as the health and beauty retailer’s new healthcare director effective from 7 August, when interim healthcare director Caris Newson starts her new role as head of eCommerce at the group. Beal’s appointment comes at a time when Superdrug has achieved consistent year-on-year…
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Jun- 2023 -30 June
Revolution Beauty defends AGM actions as Boohoo dispute continues
Revolution Beauty has defended its actions at its AGM earlier this week, including the firing and rehiring of three top executives, after Boohoo criticised the move. Revolution said it received “very positive reaction from all stakeholders” following its actions, adding that the move was “firmly validated” from the stock market…
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29 June
Boohoo slams Revolution Beauty as it hands out £3m in shares
Revolution Beauty has handed its directors, including CEO Bob Holt and finance boss Elizabeth Lake, over 11 million shares valued at £3m. This move comes despite the fact that Holt, Lake and chairman Derek Zissman were fired and rehired yesterday after not being reelected at the company’s AGM. This has…
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28 June
Boots to close 300 stores despite strong Q3 sales
Boots will reportedly shut 300 branches across the UK over the coming year, despite the group’s retail sales increasing by 13.4% in its third quarter of trading, as the retailer looks to consolidate the business. According to the BBC, the move will see its portfolio fall from 2,200 stores to…
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