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
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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27 August
Over 3,500 Next workers win equal pay claim
More than 3,500 current and former Next employees have won a six-year legal fight for equal pay, with the total amount payable by the retailer estimated to be over £30m.According to Leigh Day, the firm that represented the workers, this marks the first equal pay claim of this type against…
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27 August
UK shop prices fall for first time in three years, BRC finds
UK shop prices fell for the first time in three years since October 2021, the British Retail Consortium revealed. The BRC-NielsenIQ shop price index showed that deflation was at 0.3% in August, down from inflation of 0.2% in the previous month. Non-food remained in deflation at -1.5% in August, further…
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27 August
Frasers seeks £585m share buyback approval
Frasers Group is seeking approval for owner Mike Ashley to cash in on £585m of shares which could be bought by the company in a private deal, according to reports from The Guardian. Under the plan, the group said it wanted permission from shareholders to buy back the shares privately…
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27 August
Lanvin HY revenues decline 20% amid global luxury slowdown
Lanvin Group, which owns Wolford, Sergio Rossi and Caruso brands, has reported a 20% decline in revenues to €171m (£144.5m) in H1 2024. DTC channel revenue decreased by 14% and wholesale revenue by 30%. Meanwhile, other revenue growth comprising royalty and clearance income decreased 15% due to Lanvin’s reduction of…
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23 August
UK consumer confidence remains stable in August
UK consumer confidence has remained stable in August at -13, according to GfK’s long-running index. The survey revealed that three measures were up and two were down in comparison with last month’s announcement. The index measuring changes in personal finances during the last year was up one point at -7.…
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