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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May- 2024 -10 May
Frasers ups stake in Boohoo to 23.1%
Mike Ashley’s Frasers Group has upped its stake in Boohoo to 23.1% as it continues investing in a number of UK fashion retailers. It has upped its stake from 16.5% and now holds 293,028,671 voting rights in the company. The news comes after it was reportedly revealed that the group…
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10 May
Mothercare enters refinancing talks amid sales decline
Mothercare is exploring its refinancing options after sales fell by 13% to £281m in the year ended 30 March 2024, down from £323m the prior year.According to the group, retail sales were affected by global economic uncertainties, as well as partners still clearing inventory due to suppressed demand during Covid.…
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10 May
WHSmith reveals 17 new Toys R Us locations
WHSmith has announced that it will open 17 Toys R Us shops over the summer months across the UK. The retailer is set to open a further 30 shop-in-shops before Christmas after the launch of nine Toys R Us concessions a year ago. The 17 locations opening in the summer…
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10 May
Shoplifting cases fall 2% from ‘record’ high
Some 26% of retailers have reported experiencing customer theft in 2023, showing that shoplifting cases have dropped from a “record” high of 28% in 2022, according to an ONS survey. This comes despite countrywide reports of a spike in shoplifting and cases of customers abusing staff. A prior ONS report,…
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9 May
Today’s news in brief-9/5/24
Frasers Group is reportedly finalising a deal to become the new partner of struggling retailer Ted Baker following the collapse of its previous UK licensing partner, No Ordinary Designer Label (NODL). Sources indicate an agreement with NODL’s administrators could be reached in the coming days. This move would add Ted…
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9 May
Primark to join the Ashley Centre
Multinational fashion retailer Primark is set to join the Ashley Centre, Epsom’s premier shopping destination. This coincides with the centre undergoing its £7m refurbishment, which is set to see significant upgrades to the scheme, including a refreshed interior and a new external entrance. Primark will occupy 44,000 sq ft in…
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9 May
Selfridges boss blames job cuts on loss of tax-free shopping
Selfridges is reportedly set to cut 70 jobs with CEO Andrew Keith blaming the loss of tax-free shopping, according to reports from The Times. Keith claimed that the new set of redundancies had been caused by the government ditching tax-free shopping for international tourists. Selfridges Retail saw a 29% increase…
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9 May
Ocado appoints ex-BT chief as NED
Ocado Group has revealed that former BT chief Gavin Patterson has been appointed as an independent non-executive director with effect from 1 June 2024. Patterson will also be a member of the People Committee and the Remuneration Committee, with those appointments taking place on the date of his appointment to…
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9 May
Frasers Group closes in on Ted Baker deal
Frasers Group is reportedly closing in on a deal to become the new partner of struggling retailer Ted Baker, Sky News has revealed. Reports said the group is set to be named as the preferred partner for Ted Baker following the collapse of its existing UK licensing partner No Ordinary…
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9 May
CMA calls on grocers to prioritise accurate pricing
The Competition and Markets Authority (CMA) has called on grocers to prioritise accurate pricing following a review of the way in-store prices are displayed. The review, which looked at the price marking practices of 139 grocery stores, assessed whether prices were “clear, accurate and matched the price people were charged…
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