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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Jun- 2024 -14 June
Today’s news in brief-14/6/24
The British Retail Consortium (BRC) has expressed support for the Labour Party’s manifesto, which aims to bring significant changes to benefit retailers and their customers. The BRC particularly appreciates Labour’s recognition of the flawed business rates system that stifles investment and results in numerous vacant retail properties. However, retailers are…
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14 June
Aldi announces planned refurbs for more than 30 stores
Aldi has announced that over 30 of its stores across the UK will undergo refurbishments this summer, with the supermarket set to invest more than £90m on store improvements throughout 2024. Over 100 stores located across the country are getting an upgrade this year – from Crewe to Cardiff and…
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14 June
Tesco maintains guidance and grows market share as Q1 sales rise
Tesco has revealed that its market share has risen to 27.6% in the 13 weeks ended 25 May 2024, as the group welcomed strong volume growth and rising sales over the period. It comes as the supermarket’s sales in the UK and Ireland rose by 3.6% to £14.3bn over the…
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14 June
BRC welcomes Labour manifesto
The BRC has welcomed Labour’s manifesto, saying it includes “many of the right policies” to help retail invest in the future, upskill its workforce, and play its part in growing the economy. If elected, Labour has promised to make changes that will have a “meaningful” impact to retailers and their…
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14 June
Wolford appoints new chief executive
Wolford has announced that Regis Rimbert has been appointed as the group’s new chief executive, succeeding Silvia Azzali. Rimbert has more than 20 years of leadership experience across the fashion and luxury sectors, spearheading transformative initiatives in retail, online, and international operations. Wolford said that with “pivotal roles at renowned…
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14 June
Crew Clothing partner with tech platform to streamline operations
Crew Clothing has expanded its partnership with cloud management solutions platform Cegid in order to improve operations across its store estate.The clothing brand, which has been a user of Cegid Retail Store Excellence since 2009, has now rolled-out the Cegid’s Newsfeed feature across its 105 stores. The Newsfeed feature “bridges…
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13 June
Today’s news in brief-13/6/24
Singapore-based fashion retailer Shein has raised prices by over a third on core items to boost revenue ahead of its anticipated IPO on the London Stock Exchange. Coresight Research estimates Shein’s revenue will reach $50bn this year, a 55% increase from last year. The company’s price hikes have outpaced competitors…
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13 June
Poundland launches rewards app in 62 Scotland stores
Poundland has officially launched its Poundland Perks app for the first time in 62 stores in Scotland. Poundland Perks is Poundland’s pilot rewards app that has been on trial in 43 stores on the Isle of Wight and in Northern Ireland and now is available across Scotland. The retailer has…
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13 June
Shein ups prices ahead of planned London IPO
Shein has increased its prices by over a third on some core items in an attempt to boost revenues ahead of its anticipated IPO on the London Stock Exchange. According to Reuters, Coresight Research estimates Shein’s revenue will reach $50bn (£39m) this year, up 55% on last year’s figure. The…
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13 June
Dr Martens secures new majority shareholder amid restructure
Dr Martens has revealed that Guernsey-based IngreGrsy Limited has acquired a 38.46% ownership stake in the British retailer. The announcement is part of a restructure within Dr Martens’ owner Permira’s buyout fund. Permira had acquired the bootwear company from R Riggs Group Limited in January 2014 for £300m. As a…
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