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 -8 October
Hobbs to upsize Victoria Leeds flagship store
Hobbs has announced that it is upsizing its shop in Victoria Leeds relocating from Victoria Quarter to a 30% larger unit at Victoria Gate. Due to open in November, the new 4,200 sq ft flagship store will allow Hobbs to showcase a wider selection of its signature women’s clothing, shoes,…
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8 October
Very Group owners to appoint banks ahead of potential £2.5bn sale
The owners of the Very Group, the Barclay family, have reportedly appointed banks as they eye a £2.5bn sale of the group, according to reports from Sky News. The board, now chaired by former chancellor Nadhim Zahawi, is lining up Barclays, JP Morgan and Morgan Stanley to handle a strategic…
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8 October
Matalan CEO steps down
Matalan, the omnichannel retailer for families, has announced that Jo Whitfield, chief executive officer, has decided to step down from the business to pursue a portfolio career. Under her leadership, the brand has made “significant” progress, rebuilding the top team and re-establishing its value credentials. Karl-Heinz Holland, chair of the…
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8 October
Frasers snaps up three more retail locations
Frasers Group has made three real estate acquisitions in strategic retail locations through its new property division, with the transactions each having been completed over the last two weeks. The bricks-and-mortar locations are Princesshay Shopping Centre in Exeter, Fremlin Walk Shopping Centre in Maidstone and The Olympus Centre in Quedgeley.…
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8 October
September retail sales see biggest boost in half a year
UK Total retail sales increased by 2% year on year in September marking the largest increase in over six months, according to the latest BRC-KPMG Retail Sales Monitor. Food sales increased 3.1% year-on-year over the three months to September, against a growth of 7.4% in September 2023. This is below…
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8 October
Sosandar opens fourth site in Cardiff
Sosandar, the women’s fashion brand, has announced that it has signed a lease agreement for its fourth store, in Cardiff’s St David’s centre. The news follows the recent store openings in Chelmsford, Marlow and the Metrocentre. St David’s occupies one third of Cardiff’s city centre and Sosandar’s new store will…
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8 October
Saudi Arabia acquires 40% stake in Selfridges
Saudi Arabia’s Public Investment Fund has acquired a 40% stake in Selfridges after purchasing the shares previously held by collapsed Austrian firm Signa. Following the acquisition, Central Group will own a 60% stake in the department store, while PIF will hold 40% of both Selfridges Group’s operating and property companies. The…
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7 October
Today’s news in brief-7/10/24
Mulberry founder Roger Saul has suggested that luxury retailer Mulberry might be a better fit with European luxury group LVMH rather than Mike Ashley’s Sports Direct, following Ashley’s unsuccessful £83m bid to acquire the company. Saul, who founded Mulberry in 1971, emphasised that the brand had drifted from its original…
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7 October
Sloane Stanley Estate welcomes two new independent retailers
The Sloane Stanley Estate has announced two new design-led independents, Penelope Chilvers and KayaNuka, are joining the King’s Road. Penelope Chilvers has opened a 1,327 sq ft store on Sloane Stanley’s King’s Road, bringing its “made-to-last fashion” to the Chelsea neighbourhood alongside its locations in Notting Hill, Mayfair, Belgravia, and…
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7 October
John Lewis CEO Kanikwala to revert to NED role
John Lewis Partnership has revealed chief executive officer Nish Kankiwala and the Partnership’s board have agreed that he will revert back to a non-executive role by March 2025, supporting chairman Jason Tarry and the board. The role of CEO will not be directly replaced and Tarry will chair the executive…
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