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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Jul- 2024 -23 July
Literacy Capital appoints new Ashleigh and Burwood CEO
Literacy Capital has announced the appointment of Penny Grivea as the new CEO of its consumer home fragrance brand Ashleigh and Burwood, which has a 30-year heritage. Grivea brings 25 years of consumer and retail experience to the brand, having previously worked for Selfridges, Harrods and Georg Jensen. For the…
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23 July
Aldi to create 1,000 new stores roles before 2025
Aldi is set to create 1,000 jobs in new stores across the UK between now and the end of the year. The UK’s fourth-largest supermarket, which has more than 1,020 stores, currently employs over 45,000 people. Roles available will include managerial positions, caretakers and cleaners, as well as store apprentices.…
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23 July
Tapi rescues Carpetright brand as 1,500 jobs lost
Rival brand Tapi has acquired the Carpetright brand and 54 of its stores out of administration but more than 1,500 jobs are set to be axed, it has been revealed. Whilst the deal has saved over 300 jobs, administrators from PwC said it was with “deep regret” that 1,018 employees were…
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22 July
Today’s news in brief
Saudi Arabia’s Public Investment Fund (PIF) is looking to significantly increase its stake in Selfridges. Currently holding 10%, PIF has offered $1.3m (£1m) to acquire an additional 40% from Signa’s flagship property unit, following Signa’s insolvency earlier this year. This move positions PIF against other potential suitors like Thailand’s Central…
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22 July
Cotton Traders sees sales and profits dip amid ‘challenging conditions’
British heritage fashion brand, Cotton Traders, has seen its FY23 operating profit fall 9.9% to £9.8m in what it called a “steady performance” in the face of inflation and the cost-of-living crisis. The brand also reported turnover of £109.4m (-1.7% vs. 2022) and an EBITDA of £11.57m (-7.9%vs.2022). Amongst other…
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22 July
Holland and Barrett unveils first London ‘H&Bean’ cafe
UK-based wellness retailer Holland and Barrett has started trialling its first London-based H&Bean cafe concessions at its Victoria Street street store. The news comes after the group trialled the takeaway service at its flagship store in Birmingham in November. The new H&Bean cafe concession will offer a brand-new range of…
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22 July
Hammerson offloads Value Retail stake for £1.5bn
Hammerson will be disposing of its entire interest in Value Retail – the Bicester Village owner – to Silver Bidco Limited, a Jersey-based company established by affiliates of L Catterton, for £1.5bn to generate cash proceeds of about £600m. It comes as Hammerson plans to unlock value from 42% from…
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22 July
Homebase owner considers sale amid interest from The Range
Homebase owner Hilco Capital is reportedly considering a sale after it was approached from The Range for the DIY retailer, according to reports from Sky News. A formal sales process is set to commence in the coming days with other potential bidders involved. Sources suggested that the interest from The…
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22 July
Saudi wealth fund looks to up Selfridges stake to 50%
Saudi Arabia’s Public Investment Fund has reportedly made an offer to raise its stake in Selfridges from 10% to 50%, according to documents seen by Bloomberg News.The move comes after the department store’s co-owner Signa fell into insolvency earlier this year. The PIF currently owns a 10% share in the…
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22 July
John Lewis launches repair service trial with Timpson Group
John Lewis has announced a trial where customers can bring their garments, accessories and a selection of homeware back to life through an in-store repair service with Johnsons (part of Timpson Group). From reviving wedding dresses to restoring the zip on a luxury clutch or adjusting a pair of curtains,…
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