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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Feb- 2024 -9 February
Tesco sells banking arm to Barclays in £700m deal
Tesco has announced the sale of its banking arm to Barclays in a £700m deal. Initially for a 10-year period,…
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9 February
Waterstones pre-tax profits plummet amid tech issue
Waterstones revealed that pre-tax profits fell to £11.2m in the year ending 29 April 2023 from £50.6m reported last year,…
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8 February
Today’s news in brief-8/2/24
Farfetch has appointed Akshay Navle as a new director amidst shareholder discontent following the company’s sale to Coupang. Navle, who…
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8 February
Primark to upsize Metrocentre location
Primark is set to do an upsize of 14,100 sq ft of trading space for the Metrocentre location. The retailer…
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8 February
Shoppers say brands should help in financial crisis, study finds
Seven out of 10 UK adults believe brands should play a role in helping them navigate the cost-of-living crisis, but…
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8 February
Watches of Switzerland sees Q3 revenues drop 1%
Watches of Switzerland has announced that its revenues fell 1% on a constant currency basis £397m, down from £407m, for…
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8 February
VF Corporation CFO steps down as group revenues drop to $2.96bn
VF Corporation, owner of Vans, The North Face and Timberland brands, has reported a 16% year-on-year decline in revenues to…
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8 February
Farfetch appoints new director following Coupang sale
Farfetch has appointed Akshay Navle as a new director following the sale of the company to Coupang. According to the…
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8 February
Revolution Beauty eyes £1bn sales target amid turnaround strategy
Revolution Beauty has unveiled a new turnaround strategy amid plans to target sales of £1bn by 2030. The group said…
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8 February
Kering revenues fall 4% in FY23 despite ‘stable’ sales
Kering, the group that operates Gucci, Yves Saint Laurent and Bottega Veneta, reported that revenues declined 4% to €19.6bn (£16.7bn)…
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