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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Jul- 2024 -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…
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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. …
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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…
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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…
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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…
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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…
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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…
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28 June
Boots sees 13th straight quarter of market share growth
Boots has revealed that it has posted a 13th consecutive quarter of market share growth for the three months ended 31 May 2024. The health and beauty retailer saw a retail sales increase of 6% in the period compared with a 13% increase in the same period last year. Furthermore,…
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28 June
Tesco agrees retail media partnership with advertising giant GroupM
Tesco has announced a significant media partnership with GroupM, WPP’s media investment group, which aims to “drive best-in-class delivery of data-led solutions, education, and innovation across all facets of retail media in the UK”. GroupM said the deal is among the first of its kind focused specifically on the burgeoning…
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28 June
Music Magpie revenues fall amidst competitive second-hand market
Music Magpie has reported a decline in group revenues from £61.9m to £53.8m for the six months ended 31 May 2024, as it struggled in the highly-competitive second-hand market. The group attributed the reduction to the planned conversion of its US business into a sourcing-only operation, which also saw its…
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