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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Apr- 2024 -3 April
Secret Sales acquires Germany’s Dress-For-Less
Secret Sales, the marketplace for off-price retail in fashion, sportswear and beauty, has continued its international expansion with the acquisition of German online retailer, dress-for-less for an undisclosed sum. The “natural next step on an aggressive merger and acquisition (M&A) strategy”, Secret Sales said this deal solidifies it as “one…
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3 April
Supermarket sales jump 5.4% in March
Total till sales at UK supermarkets grew 5.4% in the four weeks ended 23 March 2024, according to data from NIQ. Whilst this is a slight increase compared with the 5.3% growth reported last month, the drop in food inflation (3.7%) compared with 15% last year has encouraged shoppers to…
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3 April
Amazon to ditch Just Walk Out tech in US stores
Amazon is reportedly set to ditch its grab-and-go checkout system, Just Walk Out, across its US Amazon Fresh stores in favour of newer technology. Tony Hoggett, Amazon’s senior vice president of grocery stores, told The Information that the company’s Just Walk Out technology, which relied on cameras and sensors to monitor…
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3 April
Topps Tiles sales dip 5.9% to £122.6m in H1
Topps Tiles sales fell 5.9% to £122.6m for the 26-week period ended 30 March 2024, despite a “record revenue performance” in 2023. The retailer has attributed the lower footfall to a subdued demand in the domestic Repair, Maintenance and Improvement (RMI) sector, especially for bigger ticket projects. Like-for-like sales were…
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3 April
Aldi aims to invest over £380m in price cuts in 2024
Aldi has pledged to cut more prices than ever before in 2024 despite already investing more than £125m to reduce prices on around 500 products since the start of the year. In a bid to “never be beaten on price”, the group stated that it is planning to continue cutting…
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2 April
Today’s news in brief-2/4/24
Superdry CEO Julian Dunkerton’s plans for a takeover have fallen through, leading to an extension of a £20m funding facility with Hilco. Dunkerton, while remaining committed to the business, does not intend to make an offer, according to a statement on the London Stock Exchange. Talks of a possible equity…
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2 April
Wilko reopens store in Rotherham
Wilko officially returned to Rotherham on 29 March with a new store at Parkgate Shopping Centre. Deputy mayor of Rotherham, councillor Robert Taylor, officiated the launch with a ribbon cutting. The new Wilko Rotherham offers customers all the essentials, as well as 20% more product lines than before. Customers are…
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2 April
Søstrene Grene to open new store at Festival Place
Danish homeware retailer Søstrene Grene is set to open a new location at retail destination Festival Place. The lifestyle brand will make its Hampshire debut this year, bolstering Festival Place’s position as a regional hub for fast-growing brands. The new location will deliver the family-owned brand’s range of Scandinavian-inspired homeware…
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2 April
Shein profits clear $2bn mark ahead of IPO
Shein has seen its profits double to over $2bn (£1.6bn) while it waits to launch its IPO in either London or New York, according to the Financial Times. Furthermore, the company saw its sales jump to $45bn, becoming one of the most profitable fashion companies in the world. Only Inditex,…
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2 April
Shop price inflation falls to lowest level in two years
Shop Price annual inflation eased to 1.3% in March, down from 2.5% in February, marking its lowest level since December 2021. It comes as non-Food inflation fell to 0.2% in March, down from 1.3% in the preceding month. This is below the three-month average rate of 0.9%. Inflation is its…
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