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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Sep- 2024 -10 September
JD Sports to close Derby warehouse with almost 200 jobs lost
JD Sports has made the decision to close its distribution centre in Derby, meaning almost 200 jobs could be lost, according to reports first revealed by the BBC.The outlet said staff at Derby Commercial Park were informed of the decision on Friday (6 September) following a six-week consultation period. It…
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10 September
Avalara names Kevin Sellers as CMO
Avalara, a provider of tax compliance automation software for businesses of all sizes, has announced Kevin Sellers has been named executive VP, chief marketing officer. Sellers brings more than 25 years of broad-based global marketing expertise to the role with Avalara adding he has a “proven track record of driving…
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10 September
Mountain Warehouse to open 50 new stores
Mountain Warehouse has revealed that it will open 50 new stores next year. According to The Times, the outdoor retailer is ramping up its expansion strategy driven by a surge in demand for in-person shopping experiences. Last month, the retailer reported £386m in sales and £26.2m pre-tax profit for the…
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9 September
Today’s news in brief-9/9/24
Asos has declined a £215m bid for Topshop from Shein and Authentic Brands Group, choosing instead to proceed with a joint venture alongside Heartland, an investment firm owned by retail billionaire Anders Povlsen. This decision values Topshop and Topman at £180m, with Asos selling a 75% stake for £135m. The…
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9 September
Gymshark appoints new chief people officer
Gymshark has announced the appointment of Sian Keane to the role of chief people officer. Keane is the latest in a series of senior appointments at Gymshark, following Mat Dunn joining from Asos as chief financial officer, Carly Natalizia (formerly O’Brien) joining from The Very Group as chief digital officer…
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9 September
Asos rejected £215m Shein Topshop bid for lower offer
Asos reportedly declined a £215m bid for Topshop from Shein and Authentic Brands Group, in favour of its joint venture with Heartland, according to The Sunday Times. The retailer agreed to sell a 75% stake in Topshop and Topman for £135m in a deal that valued the two brands at…
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9 September
LVMH names Sarah Burton as Givenchy creative director
Givenchy has announced the appointment of Sarah Burton as creative director, with immediate effect. Burton will be responsible for the creative direction of all of the Maison’s Women’s and Men’s collections. Burton was born in Macclesfield and educated in Manchester, before studying Fashion at Central Saint Martins College of Art…
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9 September
Auréa completes Body Shop rescue deal
Auréa, the growth capital firm co-founded by Mike Jatania and Paul Raphaël, has completed its acquisition of The Body Shop. This investment represents Auréa’s largest transaction to date. Jatania and Charles Denton will serve as executive chairman and CEO respectively and will jointly steer The Body Shop’s revival and “reclaim…
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9 September
The Cotswold Company sales hit £40m in H1
The Cotswold Company, a premium handcrafted furniture and homeware brand, has announced a strong sales growth of 15% to £40.1m for the six months ending 25 August. Sales for the company were up 80% on a five-year basis and when compared to pre-Covid levels, following a 21% year-on-year increase in…
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9 September
Aldi announces record £800m investment amid highest ever sales
Aldi has unveiled its largest ever annual investment plan, with a new £800m package that is set to further its expansion across the UK.The supermarket said it also plans to invest £1.4bn into the business over the next two years. It comes as the group welcomed its highest ever period…
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