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 -10 April
Asda launches online prescription service with Pharmacy2U
Asda has recently announced the launch of an online prescription service in partnership with Pharmacy2U, the largest NHS approved online pharmacy in the UK. Asda Online Pharmacy is a platform where patients can manage prescriptions online and have them arranged for delivery to their home address. Once registered on the…
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10 April
Ocado secures funding to boost delivery capabilities
Ocado has secured a multi-million-pound funding package from Shawbrook to acquire 43 new refrigerated vans, strengthening its delivery capabilities across the UK. The investment comes at a time when the online supermarket is looking to meet increased customer demand. The funding package comes after the retailer’s partnership with commercial finance…
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10 April
Assault of retail staff to be made specific criminal offence
The Government has announced that assaulting a retail worker will be made a standalone criminal offence and serial or abusive shoplifters will face tougher punishments under new laws included in its Criminal Justice Bill. Perpetrators could be sent to prison for up to six months, receive an unlimited fine and…
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10 April
THG losses narrow as boss hails improved Q4 revenues
LookFantastic and MyProtein owner, THG, has reported that its losses before tax have narrowed to £252m during the year ending 31 December 2023 from £549.7m in the year prior. The news comes despite total group revenues falling 8.4% after the group’s decision to “discontinue loss-making categories”. In addition, the group’s…
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10 April
Next and Frasers Group mulls bid for Ted Baker
Mike Ashley’s Frasers Group and Next have expressed interest in acquiring Ted Baker, according to the Times. The news comes after the fashion label collapsed into administration and appointed Teneo Advisory as its administrator. Both Frasers and Next have contacted Teneo Advisory to explore a sale of all or parts…
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10 April
Tesco profits soar in FY results as inflation eases
Tesco has seen pre-tax profits soar by 159.5% to £2.3bn in its full-year results, up from £882m the prior year, as shoppers began to spend more when price inflation “lessened substantially”. In its preliminary results for the year ended 24 February 2024, group sales were up by 7.4% to £61.5bn,…
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9 April
Today’s news in brief-9/4/24
No Ordinary Designer Label Limited (NODL), the retailers of the Ted Baker brand in the UK and Europe, will close 11 stores by 19 April. This decision follows the appointment of administrators and is aimed at improving the company’s performance. Authentic Brands Group, the intellectual property owner of Ted Baker,…
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9 April
SportsShoes.com appoints first partnerships coordinator
SportsShoes.com has announced the appointment of Georgia Malir as its first partnerships coordinator to manage running and fitness community partnerships. Malir joins the online running shoes, clothing and outdoor retailer from athletic footwear and apparel brand, Saucony, where she was a technical representative. In her new role, she will be…
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9 April
Swarovski to launch standalone boutique in Merry Hill
Luxury brand Swarovski is returning to West Midlands destination Merry Hill with the launch of a standalone boutique set to open in spring. The new store, spanning 2150 sq ft between Goldsmiths and Beaverbrooks on the Upper Mall, will feature the retailer’s latest shop fit, with metallic finishes and fluted…
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9 April
Easter helps retail sales jump 3.5% in March
UK Total retail sales increased by 3.5% year on year in March, as the early Easter helped boost performance for the month, according to the latest BRC-KPMG Retail Sales Monitor. The increase was above the three-month average growth of 2.1% and the 12-month average growth of 2.9%. It comes as…
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