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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Aug- 2024 -21 August
Supermarket sales rise 5.5% amid summer holidays boost
Total Till sales at UK supermarkets has seen a 5.5% increase in the last four weeks ending 10 August 2024, up from 3.6% in the previous month, according to new data released by NIQ. This is the largest growth in Total Till sales recorded so far this year, which was…
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21 August
Hobbycraft on brink of sale to retail investor
Hobbycraft is reportedly closing in on a sale to a specialist retail investor, Sky News has reported. Modella Capital is said to be in advanced talks to buy the arts and crafts retailer from the private equity firm Bridgepoint. Sources told Sky that a deal could be signed “within days”.…
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20 August
Estée Lauder sales fall in ‘difficult year’ as CEO departs
Estée Lauder has seen sales dip by 2% to $15.6bn (£12bn) in its full-year results, in part due to an “ongoing softness” in the China market, whilst also forecasting a fall in sales for the current fiscal year. While the group forecast lower than expected sales and earnings in FY25, it…
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20 August
Co-op to invest in over 600 early years apprenticeships
The Co-op, along with other members of The Royal Foundation’s Business Taskforce for Early Childhood, is spearheading an intervention to invest in over 600 early years apprentices. It comes as the UK is grappling with a shortage of health visitors and midwives, with the existing childcare system also being widely…
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20 August
Topps Tiles rescues CTD Tiles out of administration
Topps Tiles has acquired the brand and assets of CTD Tiles in a £9m deal after the company fell into administration this week. The deal includes the CTD Tiles brands, 30 stores, selected stock and its intellectual property from CTD Tiles Limited. CTD supplied tiles to the retail, trade and commercial…
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20 August
Sosandar to open third store at Metrocentre
UK fashion brand Sosandar has announced that it has signed a lease agreement to open its third store in Newcastle’s Metrocentre. The store is expected to open in October ahead of the key Christmas trading period, and will follow the opening of Sosandar’s first two stores in Chelmsford and Marlow…
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19 August
Wilko family under pressure to fill £70m pension deficit
Wilko’s founding family is reportedly under pressure to pay £70m to fill the collapsed retailer’s pension hole, This is Money has reported. According to reports, Amalgamated Holdings Wilkinson Limited (AHWL), Wilko’s ultimate parent whose directors include Lisa Wilkinson, has no plans to pay up. Wilkinson, the granddaughter of Wilko founder…
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19 August
Boohoo in dispute with suppliers over poor stock quality
Boohoo and its suppliers are reportedly in a dispute over claims the fast fashion group has received a significant amount of defective stock and is therefore withholding payments, The Telegraph has reported. It is understood that the fashion group is refusing to pay the outstanding fees until the issues are…
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19 August
Morrisons hit by raft of senior staff departures
Morrisons has been hit by an “exodus” of senior staff after seven directors left the supermarket over the summer, including convenience director Miles Foster, property director Mark Nowak and productivity director Jonathan Bell, according to the Sunday Times. The news comes after almost a third of the top 60 employees…
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19 August
Ted Baker to shutter remaining stores, 500 jobs at risk
The remaining 31 Ted Baker stores will permanently shutter this week, putting more than 500 jobs at risk. According to Sky News, the closures come as talks over a licensing partnership between Frasers Group and Ted Baker’s owner, Authentic Brands Group (ABG), stalled. Ted Baker has already shuttered 15 stores across…
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