News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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May- 2024 -24 May
Ted Baker shuts down US stores and website
Ted Baker has reportedly shut down its North American-based stores and website after falling into administration. It is believed that 31 of its US stores and nine of its Canada-based stores are set to close, and both areas can no longer shop on the brand’s website. On 19 March, restructuring…
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24 May
Retail sales slump 2.3% in April amid wet weather
Retail sales fell by 2.3% in volume over April, following a fall of 0.2% in March, as the retail sector was hampered by ongoing wet weather over the period. According to the Office for National Statistics (ONS), sales volumes were down across most sectors, with non-food stores particularly “doing badly” as…
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23 May
Today’s news in brief-23/5/24
The Very Group’s pre-tax losses narrowed to £2.1m for the 39-week period ending March 30, down from £11.7m the previous year, despite a slight dip in total revenue by 0.8% to £1.6bn. Very UK, contributing 86% of the group’s sales, saw a revenue increase of 1% to £1.4bn. However, Littlewoods…
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23 May
Amazon partners with Unilever and Kimberly-Clark to help families experiencing poverty
Amazon has teamed up with Unilever and Kimberly-Clark to deliver over 100,000 hygiene products to families experiencing poverty across the UK. From today (23 May) until 16 June, for every two purchases on Amazon.co.uk from a selection of over 500 personal hygiene products, Unilever and Kimberly-Clark will donate a third…
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23 May
John Lewis Partnership to hire over 300 care experienced young people
The John Lewis Partnership has announced its ambition to hire more than 300 care experienced young people by January 2025 as part of its Building Happier Futures programme. The Partnership has hired around 76 people with Care Experience backgrounds through the Building Happier Futures programme. It said the new ambition…
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23 May
The Very Group losses narrow to £2.1m
The Very Group pre-tax losses narrowed to £2.1m in the 39-week period ended 30 March, down from a loss of £11.7m the prior year, despite sales dipping amid tough market conditions. Total revenue for the group slightly decreased by 0.8% to £1.6bn, yet Very UK revenue, which represents 86% of…
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23 May
Temu owner sales rocket 131% in Q1
The owner of Temu, PDD Holdings, has welcomed a strong first quarter of trading as sales rocketed 131% to RMB86.8bn (£9.4bn), up from RMB37.6bn (£4bn) the prior year. Sales more than doubled largely due to an increase in revenues from its online marketing services and transaction services. Online marketing services…
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23 May
Smart Toys and Games acquires Wow Toys
Belgian puzzles and games company Smart Toys and Games has announced the acquisition of Wow Toys company (NAD Developments Limited). Wow Toys founded in 1996 by Nadim Ednan-Laperouse is known for its pre-school range of vehicles and figures. The range created with children in mind has no sharp edges, no…
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23 May
Games Workshop appoints new finance director
Games Workshop has announced that Elizabeth Harrison has been appointed as finance director subject to board approval. Harrison joined Games Workshop in March 2000 as a finance manager for the German sales business. She has had various roles within finance and business analysis within Games Workshop and has been the…
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23 May
TJX net sales hits $12.5bn in Q1
TK Maxx owner, TJX, has reported that net sales across the group hit $12.5bn (£9.8bn) during the first quarter ended 4 May, having increased 6% compared to the same period last year. This comes as consolidated store sales rose 3% during the period, which TJX said was at the high-end…
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