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.
-
Jul- 2024 -2 July
Shoe Zone posts profit warning amid continued cost pressures
Shoe Zone has reported that it now expects adjusted profits before tax to be “no less than” £10m for the year ending on 2 October, due to continued cost pressures. The announcement elaborates on the shoe retailer’s 12 March AGM Statement, which also maintained that Shoe Zone continued to experience…
Read More » -
1 July
Today’s news in brief-1/7/24
Several firms, including Gordon Brothers led by Mark Newton-Jones, are bidding to rescue The Body Shop’s UK business after its collapse into administration earlier this year. Alteri and Modella Capital are also considering bids. The retailer, known for its beauty products, faced financial difficulties despite a recent takeover attempt. Administrators…
Read More » -
1 July
Mango Teen opens first UK store in Carnaby Street
Mango Teen, the dedicated youth offering by international fashion retailer Mango, has opened its first store in the UK in Soho. Mango Teen has opened at 14-16 Foubert’s Place, in 2,475 sq ft off Carnaby Street. The store has been designed with its Mediterranean-inspired New Med concept, which embodies the…
Read More » -
1 July
Ann Summers to unveil lingerie-specific online marketplace
Ann Summers has announced that it will be unveiling an online marketplace – Knickerbox.com – on 16 July, founder Jacqueline Gold’s birthday. This move by the lingerie retailer will be “the only underwear specific site in the UK”. According to Ann Summers, Knickerbox.com is the solution to its online business…
Read More » -
1 July
Former Mothercare boss among The Body Shop bidders
Several private equity giants are reportedly eyeing a rescue bid for The Body Shop’s high street business, The Telegraph has reported. Gordon Brothers, whose UK business is led by former Mothercare boss Mark Newton-Jones, is said to be among several firms that have submitted bids for what remains of the chain. …
Read More » -
1 July
Frasers in talks to acquire Princesshay shopping centre
The Mike Ashley’s Frasers Group is reportedly in talks with Crown Estate to acquire Princesshay shopping centre in Exeter, according to the Times. It is believed that Frasers is to buy a 50% stake in the shopping centre from US-based asset manager Nuveen and is also planning to buy the…
Read More » -
1 July
Boots chief to depart after sale plans shelved
Boots managing director Sebastien James is set to quit his role after its owner shelved plans to sell the retailer. James, who has led the company since 2018, is set to leave the company in November and take up a role at Veonet, according to reports from Sky News. Ornella…
Read More » -
1 July
Fancy dress brand Smiffy’s sold to Ad Populum
Fancy dress retailer R.H. Smith and Sons, trading as Smiffy’s, has been sold to Ad Populum after falling into administration. Headquartered in Leeds, Smiffy’s has been operating for over 100 years and has stores in Liverpool, Newcastle and Oxford. However, the retailer was forced to appoint joint administrators from PwC…
Read More » -
Jun- 2024 -28 June
Today’s news in brief-28/6/24
Walgreens Boots Alliance (WBA) has decided to shelve plans for a £7bn sale of Boots for the second time, citing a reduced profit outlook and the closure of 700 US stores. Despite this, Boots reported a 6% sales increase in the third quarter, highlighting growth across all categories. CEO Tim…
Read More » -
28 June
Superdrug opens largest UK store at Westfield Stratford
Superdrug has today (28 June) opened the doors to its biggest UK store in Westfield Stratford Shopping Centre, London. The store, which has doubled in size to 9,890 sq ft, continues Superdrug’s expanding bricks-and-mortar retail footprint. The retailer plans to open 25 new stores in 2024, as it celebrates its…
Read More »
