News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Nov- 2024 -26 November
Represent sells minority stake to investment firm True
Luxury brand Represent has sold a minority stake to investment and innovation firm True to accelerate its growth and global expansion. To help continue the brand’s success, True is also leveraging its experience in the consumer and retail sectors to accelerate growth across the world, channels, and categories — starting…
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25 November
Today’s news in brief-25/11/24
Asda has announced the return of Allan Leighton as executive chair, succeeding Stuart Rose. Leighton, who served as CEO of Asda from 1996 to 2001, brings extensive leadership experience, including roles at The Co-op and Loblaw Companies. Rose will remain on the board temporarily to ensure a smooth transition. Under…
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25 November
Outdoor brand Sealskinz opens first store in London
British outdoor and premium apparel brand Sealskinz has announced the opening of its first ever store on 1 Hinde Street, Marylebone Village, London. After a competitive selection process, Sealskinz was selected as the occupant for The Howard de Walden Estate location, joining a number of premium brands. The permanent addition…
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25 November
BRC urges public to give retail workers gift of a ‘safe Christmas’
Ahead of Black Friday and the busy festive period, the British Retail Consortium (BRC) and its retail members are calling on the public to “stand together against violence and abuse towards retail workers this Christmas”. The BRC said Christmas is an “incredibly complex and challenging time of year” for the…
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25 November
Zara unveils 51,000sq ft flagship store at Bullring and Grand Central
Fashion retailer Zara has opened a new 51,000sq ft flagship store at Bullring and Grand Central in Birmingham. Part of Hammerson’s strategy to focus on the flight to quality, Zara is the latest global brand to invest in Bullring and Grand Central, joining Sephora, The Sidemen and PureSeoul in the…
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25 November
Ann Summers owners explore options amid widening losses
The owners of Ann Summers, the Gold family, are reportedly lining up Interpath Advisory to explore options for the high street retailer, which could include a partial or majority sale, according to Sky News. This comes after it was found last week (20 November) that the owners had stepped in…
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25 November
Kingfisher lowers profit guidance amid flat Q3 sales
Kingfisher has lowered its full-year profit guidance after posting flat sales of £3.2bn for the three months ended 31 October, a 0.6% decline. As a result of this, the company expects its adjusted PBT guidance to be in the range of c.£510m to £540m, previously c.£510m to £550m. The B&Q…
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25 November
Boohoo secures lender consent for £39m fundraiser
Boohoo has confirmed it has secured lender consent from its lenders for a recent £39.3m fundraiser, after announcing an oversubscribed placing earlier this month. An application has now been made to the London Stock Exchange for admission of 126,908,442 new ordinary shares to trading on AIM. Dan Finley, CEO of Boohoo,…
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25 November
Asda appoints ex-CEO as new chair
Asda has announced the appointment of former CEO Allan Leighton as new executive chair, succeeding Stuart Rose who has served as chair since 2021. Leighton has led a number of UK and international consumer businesses, including serving as a chief executive of Asda from 1996 to 2001, president of Loblaw…
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22 November
Saint + Sofia opens first physical store in Covent Garden
Contemporary womenswear brand Saint + Sofia has opened its debut bricks and mortar store in Covent Garden’s Seven Dials. After building significant commercial success online, Saint + Sofia makes its entrance to physical retail in a 1,600 sq ft flagship store in the heart of Covent Garden’s Seven Dials, at…
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