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 -9 April
Ted Baker to close 11 stores
The joint administrators of No Ordinary Designer Label Limited (NODL), retailers of the Ted Baker brand in the UK and Europe, have announced that 11 stores will close and cease trading by 19 April. News of the closures follows the appointment of Benji Dymant and Daniel Smith of Teneo Financial…
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9 April
Charlotte Tilbury owner eyes €2.5bn IPO
Spanish beauty group, Puig, which owns brands including Charlotte Tilbury, has announced its intention to raise more than €2.5bn (£2.1bn) through an initial public offering of its class B shares to qualified investors. The 110-year old company is looking to apply for admission of the shares to listing on the…
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9 April
ProCook Q4 revenues jump 4.8%
ProCook has revealed that its revenues jumped 4.8% up to £13.2m for the 12 weeks ended 31 March 2024. As a result of this the board expects its full-year underlying PBT for FY24 to be between £0.5m to £1.0m, marginally ahead of market expectations. Furthermore, the company’s total like-for-like revenue…
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9 April
The Very Group promotes Robbie Feather to CEO
The Very Group, operator of digital retailer Very, has promoted Robbie Feather to the position of group CEO succeeding Lionel Desclée, who has chosen to step down and pursue new opportunities. Feather, who joined The Very Group in 2021, previously led the company’s retail team, which includes all category sourcing,…
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9 April
Tesco launches collaborative VC fund with global grocery retailers
Tesco has become one of five leading global grocery retailers to establish a “pioneering” collaborative grocery venture fund, W23 Global. The new VC fund will seek to invest $125m (£99m) over five years into innovative start-ups and scale-ups with the potential to transform grocery retail and address the sector’s sustainability…
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8 April
Today’s news in brief-8/4/24
The John Lewis Partnership has chosen Jason Tarry, former UK boss of Tesco, as its new chairman. Tarry, with over three decades of experience in retail, will succeed Sharon White in September. White led the company through challenging times, including the COVID-19 pandemic and economic crises. Tarry’s leadership is expected…
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8 April
The Highlands Stores and PPL launches Out With Style
The Highlands and Pace Partnership London (PPL) has launched Out With Style, a new retail concept dedicated to the outdoors. Out With Style’s launch comes from The Highlands Stores, the owners of the flagship Barbour partner stores on Regents Street and Duke Street, with the help from the Pace Partnership…
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8 April
Zara to upsize shop at Bullring and Grand Central
Zara will significantly upsize its store at Bullring and Grand Central, as part of the repositioning of the Birmingham city centre asset and the repurposing of a former department store space. In a move that completes the repurposing of the former Debenhams, Zara is taking the top floor above M&S…
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8 April
Number of retailers going insolvent jumps to 2,195, says Mazars
The number of insolvencies of retailers increased 19% in the past year to 2,195 in 2023/24, up from 1,843 in 2022/23, Mazars, the international audit, tax and advisory firm has found. High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online…
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8 April
Zuber Issa considering stepping down as EG Group co-CEO
EG Group co-founder Zuber Issa is reportedl considering stepping down as co-chief executive officer, leaving the company in the hands of his brother, according to Bloomberg. The move will reportedly happen only after Issa completes the acquisition of a number of sites from EG Group. Chief operating officer Salim Hasam…
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