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 -7 June
BIRA leads £1bn damages claim against Amazon for UK retailers
The British Independent Retailers Association (BIRA) has brought forward a £1bn pound damages claim against Amazon on behalf of retailers selling on Amazon’s UK marketplace accusing it of “illegally misusing their data and manipulating the Amazon Buy Box to benefit its own commercial operation and its overall revenues and profit”.…
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7 June
MRI Software to provide AI footfall data for Holland and Barrett
Holland and Barrett has revealed a partnership with retail property technology group MRI Software, which will provide the retailer with AI footfall analytics. This partnership will mean that the health and wellness retailer will have real-time visibility on store performance metrics across its shops across the UK and Europe. So…
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7 June
Dunelm non-executive director exits
Dunelm has announced that Arja Taaveniku, an independent non-executive director of the company, has informed the board of her decision to step down from her role at the end of 2024. The news follows her acceptance of a full-time position as CEO of Home Centre, a home furnishings company in…
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7 June
Second Morrisons strike called off after improved pay offer
Planned industrial action that was due to take place at Morrisons warehouses in Northwich and Wakefield from 13 June to 16 June has been called off. Between 23 May and 26 May, hundreds of workers in Gadbrook in Cheshire and Wakefield in West Yorkshire had been taking part in strike…
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6 June
Today’s news in brief-6/6/24
Andrew Fisher, a long-serving director at Marks & Spencer (M&S), is resigning following the company’s hiring of Alison Dolan, CFO of Rightmove. Fisher, who has been chairman of Rightmove since 2020, felt blindsided by M&S’s decision, learning of it late in the recruitment process. He has been with M&S since…
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6 June
N Brown returns to profit despite weakened sales
N Brown has posted a profit-before-tax of £5.3m, up from a loss of £71.1m, for the year ended 2 March 2024. Despite this increase, the company saw its revenue drop 9.8% down to £600.9m from £677.5m. The company’s product revenue also dropped 10.6% from £433.4m down to £381.2m. Alongside this,…
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6 June
Authentic Brands Group to acquire Champion
Authentic Brands Group, a global brand development, marketing, and entertainment platform, has signed a binding agreement to purchase the Champion Athleticwear brand and business from HanesBrands. According to Authentic, the “strategic” move demonstrates its commitment to expanding its portfolio of sports, lifestyle, entertainment and media brands and will increase its…
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6 June
Tesco launches ‘one-stop shop’ online marketplace
Tesco has announced the launch of Marketplace, which will give customers the opportunity to shop thousands of products from its brand partners online alongside groceries. The launch follows a trial phase with Tesco colleagues over the past couple of months, who tested and learned how customers will use the platform. …
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6 June
M&S director to step down following CFO appointment
A long-serving director at M&S is reportedly quitting the company’s board following news it has poached the CFO of another company he chairs.According to Sky News, Andrew Fisher was “blindsided” after finding out M&S would hire Alison Dolan from Rightmove only late into the recruitment process. Fisher, who has been…
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5 June
The Estée Lauder Companies completes acquisition of Deciem
The Estée Lauder Companies (ELC) has announced it has completed its acquisition of the Canadian-based, multi-brand company Deciem Beauty Group in a deal worth around $860m (£673m). ELC first invested in Deciem in 2017, increased its stake to become majority owner in 2021, and recently exercised its option to purchase…
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