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 -9 May
‘Era of cheap food is over’, Waitrose boss claims
James Bailey, the executive director of Waitrose has told The Telegraph the “era of cheap food is over”, as the supermarket chain is due to reveal a new initiative to support British farmers in the move to regenerative agriculture. It is understood that the move will make the supermarket the…
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9 May
Watches of Switzerland acquires Roberto Coin
Watches of Switzerland Group has signed and completed the acquisition of the entire share capital of Roberto Coin Inc. for a total cash consideration of $130m (£104.2m) Roberto Coin S.p.A., founded in the Italian city of Vicenza, designs and manufactures delicately handcrafted jewellery with a unique ruby signature under the…
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8 May
Today’s news in brief-8/5/24
Boohoo posted widened losses of £159.9m for the full year due to challenging market conditions and a strategic focus on profitability. Despite a 17% decline in revenues, the group saw improvements in core brand performance and growth within the Debenhams marketplace. Boohoo remains committed to leveraging efficiencies and driving profitability…
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8 May
All Good Things opens London debut store at The O2
Sustainable designer outlet store All Good Things has officially opened at Outlet Shopping at The O2, marking its London debut. Offering a range of “high-quality” clothing and accessories, All Good Things has opened a 4,000 sq ft space located on the upper level of Outlet Shopping at The O2, adjacent…
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8 May
Castore acquires Infinity Inc
Sportswear brand Castore has finalised its acquisition of Infinity Inc, a supplier of branded merchandise, clothing and uniform based in Leeds. The deal is Castore’s first acquisition following a £145m investment in November 2023. As a key supplier, the acquisition will strengthen Castore’s supply chain and enable greater speed to…
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8 May
Puma Q1 performance meets expectations
Sportswear giant Puma has revealed its Q1 performance has fully met expectations with currency-adjusted sales increasing by 0.5% to €2.1bn (£1.8bn). Puma said the sales performance comes amid a strong quarter in the previous year (Q1 2023 grew +14.4% ca and reported), and that currencies have continued to be a…
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8 May
Morrisons acquires 38 Channel Islands stores
Morrisons has officially acquired 38 stores in the Channel Islands from its long-term partner, SandpiperCl. All of the acquired stores, which are on the islands of Jersey, Guernsey and Alderney, are currently supplied by Morrisons in some capacity, while 19 operate under the Morrisons Daily fascia. The transaction also includes…
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8 May
Frasers Group launches new digital infrastructure to enhance operations
Frasers Group has announced it is investing in enhancing its digital infrastructure to improve its retail operations and ecommerce experience across its sports, premium and luxury brands. The retailer is teaming up with industry-leading partners including digital product developer ‘And Digital’, innovation experience specialist Valtech, and tech agency Lab Digital…
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8 May
Amazon to create over 2000 jobs with new Northampton warehouse
Amazon has announced plans to build a new multi-million pound warehouse at the SEGRO Logistics Park Northampton, resulting in more than 2000 jobs. The Amazon Robotics fulfilment centre, near junction 15 of the M1, will be taking customer orders from 2026. At its launch, the development will create 1,400 new jobs…
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8 May
Boohoo losses hit £160m amid sales slump
Boohoo losses have widened to £159.9m in its full-year results, up from a previous loss of £90.7m, as revenues fell amid a challenging market backdrop over the period.In the year ended 29 February 2024, revenues fell by 17% to £1.46bn, down from £1.77bn the prior year. As well as difficult…
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