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 -20 June
Today’s news in brief-20/6/24
Sainsbury’s announced the sale of its banking arm’s personal loan, credit card, and retail deposit portfolios to NatWest, scheduled for completion next year. The sale, which excludes Sainsbury’s Bank’s commission income businesses like insurance and travel money, will involve Sainsbury’s paying NatWest £125m to take over the portfolios. Sainsbury’s plans…
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20 June
Footasylum to open first Aberdeen store
Footasylum has announced that it will be opening a new store in Aberdeen’s Union Square shopping centre. The new 7,000 sq ft store will open to the public in early September, with an exact date to be confirmed in due course. It will be located on the ground floor of…
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20 June
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first time…
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20 June
Lidl to hold contractor events as it seeks new stores
Lidl is set to host a series of events aimed at forging new relationships and engaging with existing partners, as it looks to open hundreds of new stores in Great Britain. The events are set to take place from July in Newcastle, Glasgow, Birmingham and Southampton. Hosted by members of…
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20 June
Starmer reaffirms commitment to crackdown on shop worker abuse
Labour leader Keir Starmer has reaffirmed the party’s commitment to cracking down on abuse against shop workers should his party emerge victorious at the general election. Starmer reiterated the promise from his party’s manifesto to introduce a specific offence for assaults on store staff. He made this commitment to a…
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20 June
Sainsbury’s to sell banking portfolios to NatWest
Sainsbury’s has agreed to sell its banking arm’s personal loan, credit card and retail deposit portfolios to NatWest, in a deal that is set to complete next year. Under the deal, Sainsbury’s Bank will pay NatWest £125m to take on the portfolios. The sale will not include Sainsbury’s Bank’s commission income…
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20 June
Saucony appoints global chief marketing officer
Running and lifestyle brand Saucony, a division of Wolverine World Wide, has announced the appointment of Joy Allen-Altimare as global chief marketing officer. In this role, Allen-Altimare will be responsible for developing and executing Saucony’s global branding initiatives, including brand positioning, direct-to-consumer strategies, advertising, digital strategies, international growth initiatives and…
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20 June
The Perfume Shop sales rise 4% in run up to Father’s Day
UK specialist fragrance retailer The Perfume Shop has hailed an “outstanding” sales period for Father’s Day with a record 225,397 bottles sold over 14 days in the run up to 16 June 2023, seeing a 4% increase in sales compared with the same period in 2023. It said this equated…
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19 June
Today’s news in brief-19/6/24
UK inflation has hit its target for the first time in almost three years, with consumer price inflation easing to 2% in May, down from 2.3% in April. The Bank of England last reached this target in July 2021. The Office for National Statistics attributes the decline primarily to falling…
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19 June
Mango to open new site in Metrocentre
International fashion retailer Mango is set to open a new destination at regional mall Metrocentre. The brand will join the centre’s lower Red Mall later this year, opening its largest store in the region to date. Mango will bring a Mediterranean-inspired and versatile assortment of womenswear and menswear to Metrocentre…
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