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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Oct- 2024 -22 October
Oliver Bonas and ProCook to open new shops at Ashley Centre
British lifestyle store Oliver Bonas and kitchenware brand ProCook have signed for new shops at the Ashley Centre, Epsom’s shopping destination. Oliver Bonas will be opening a 2,390 sq ft store, showcasing its full range of fashion, homeware, jewellery, furniture, and gifting. Designed by the brand’s specialist team, the store…
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22 October
Mulberry board backs decision to reject Frasers bid
The board of Mulberry has backed the decision by majority shareholder Challice to reject the improved £111m takeover bid from Frasers Group. Challice stated last week that it had “no interest in either selling its Mulberry shares to Frasers or providing Frasers with any irrevocable or other undertaking with regards…
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22 October
Wickes sales jump 4.2% to £312.1m in Q3
Wickes has delivered stronger sales and a volume growth in retail, with LFL sales up 4.2% to £312.1m for the 13 weeks to 28 September. Despite challenging market conditions, the retailer’s design and installation business is “stabilising”, with LFL sales declining 13.3% to £79.2m compared to the 18.9% drop in…
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22 October
Gear4music returns to revenue growth in Q2
Gear4music, an online retailer of musical instruments and music equipment, has revealed it returned to revenue growth during its second quarter as its turnaround strategy started to bear fruit. In a trading update for the six months ended 30 September 2024, the retailer revealed that overall its total revenues for…
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22 October
Ocado eyes former Microsoft exec for chairman role
Ocado Group reportedly has plans to recruit former Microsoft executive, Adam Warby, as its next chairman to replace Rick Haythornthwaite, Sky News has reported. The news comes after Haythornthwaite accepted a new position as chairman of NatWest Group. He also chairs the AA, which is owned by private equity firms…
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22 October
Halfords sales flat in H1 as consumers remain cautious
Halfords has reported broadly flat revenues in the first half of FY25, with group sales down by 0.1% as consumers were “cautious” with their spending over the period. According to the group, this was compounded by ongoing uncertainty ahead of this year’s Autumn Budget. In the 26 weeks ended 27 September…
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22 October
Sosandar HY losses narrow to £0.7m
Women’s fashion brand Sosandar has revealed that its losses narrowed to £0.7m, from a loss of £1.3m, for the six-month period ended 30 September 2024 as a result of margin enhancement and continued careful cost management. Overall, the group’s revenues fell from £22.2m in the prior year to £16.2m as…
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21 October
Today’s news in brief-21/10/24
Frasers Group has agreed to sell its 20.3% stake in N Brown for £191m to Falcon 24 Topco Limited, owned by Joshua Alliance. Despite divesting from N Brown, Frasers looks forward to a strategic relationship with Alliance. Concurrently, Frasers is pursuing the acquisition of luxury brand Mulberry, raising its offer…
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21 October
Reiss opens new store at Gloucester Quays
Fashion brand Reiss has opened a new store at Gloucester Quays, its first-ever in the city and only outlet in the South-West. Reiss’s Gloucester Quays store has opened opposite The North Face and next to Skechers, occupying 1,800 sq ft. The debut shop features the brand’s collections of men’s, women’s…
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21 October
UK serial returners to drive £6.6bn in online returns in 2024
The retail sector is currently seeing a surge in the number of ‘serial returns’, with an estimated £6.6bn of online returns in 2024, according to the Annual Returns Benchmark Report 2024 conducted by returns specialists ZigZag, in partnership with Retail Economics. The report stated that serial returners, accounting for one…
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