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 -28 August
N Brown completes website roll out for its three strategic brands
N Brown Group has announced the successful launch of its new trading website for JD Williams – the group’s leading midlife retail brand. The launch completes the transformational priority to roll out new websites for all three of its strategic brands ahead of peak 2024 which it said marks an…
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28 August
Temu owner PDD sees shares plummet 29% despite strong Q2 results
Temu owner PDD holdings saw its shares plummet 29%, wiping out $55bn (£41.6bn) off the company’s market value, after its Q2 results fell short of analysts expectations. This comes despite a 86% increase in revenues to $13.35m (£10.09m) and a 156% rise in operating profit to $4.48m (£3.39m) in Q2…
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28 August
Naked Wines appoints new CFO as losses widen
Naked Wines has appointed Dominic Neary as its new CFO after it posted a loss before tax of £16.3m for the year ended 1 April 2024, up from £15m in the same period last year. Alongside this, the company posted an adjusted EBIT of £5m, down from £14.9m in the…
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28 August
MAC appoints new senior vice president of global marketing
MAC Cosmetics has announced the appointment of Emily Bromfield as senior vice president, global marketing. In this role, Bromfield will report directly to Aïda Moudachirou-Rébois, SVP global general manager of the company, overseeing the brand’s global marketing strategies across all categories and channels. With a career marked by a blend…
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28 August
Frasers to grow presence in Australia with latest investment
Frasers Group has announced the purchase of a 14.65% strategic investment in Accent Group Limited, a retail and distribution business in the performance and lifestyle market in Australia and New Zealand. The news comes as Frasers aims to grow its presence in Australia and New Zealand through partnerships to help…
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28 August
Ted Baker owner names operator for UK online business
The owner of Ted Baker has signed a deal with an American partner to manage the clothing brand’s e-commerce operations in the UK and Europe. Authentic Brands Group has struck a deal with United Legwear and Apparel Co (ULAC), with Ted Baker’s online operations set to relaunch in the UK this…
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27 August
Today’s news in brief-27/8/24
UK shop prices have fallen for the first time since October 2021, with the BRC-NielsenIQ index reporting deflation of 0.3% in August, down from July’s 0.2% inflation. Non-food items saw a deeper deflation of -1.5%, driven by heavy discounts on summer stock, while food inflation slowed to 2%, with fresh…
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27 August
Barbour opens new concept store in Covent Garden
British luxury lifestyle brand Barbour has opened at 37 Neal Street in Covent Garden’s Seven Dials neighbourhood. The historic retailer’s store is centred around its design concept of New Heritage, which celebrates its dual identity as both “historic in legacy and contemporary in design”. In a nod to Barbour’s 130-year…
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27 August
Modella Capital acquires Hobbycraft from Bridgepoint
Privately-owned specialist retail investment boutique Modella Capital has announced its acquisition of Hobbycraft, the largest arts and crafts retailer in the UK, from majority investor Bridgepoint for an undisclosed sum. Founded in Bournemouth in 1995 and acquired by Bridgepoint in 2010, Hobbycraft has grown to a nationwide business with over…
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27 August
M&S to trial new clothing-only format as fashion sales rebound
Marks and Spencer is reportedly looking to open clothing-only stores after a rise in demand for its lingerie and cashmere jumpers helped undo years of dwindling fashion sales, according to The Telegraph. It comes as the retailer plans to trial its first clothing-only store in London’s Battersea Power Station later…
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