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 -27 February
Homebase owner eyes second sale in four years
Hilco Capital has reportedly put Homebase up for sale for the second time in four years after acquiring the business for £1 in 2018. According to reports from The Times, Hilco has already sounded out potential buyers such as B&M and The Range. Hilco originally acquired Homebase from Australian firm…
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27 February
Victorian Plumbing FY24 EBITDA in line with expectations
Bathroom retailer Victorian Plumbing expects to deliver full-year adjusted EBITDA in line with market expectations, as an increase in own brand product sales improved the group’s gross margins. During the first 21 weeks of FY24, the retailer saw that customers continued to seek value by purchasing more own brand products,…
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27 February
Shop price inflation drops to 2.5% in February
Shop price annual inflation eased to 2.5% in February, down from 2.9% in January, new figures from the BRC have revealed. The analysis shows that February’s figures are below the three-month average rate of 3.3% and that shop price annual growth is its lowest since March 2022. Non-food inflation was…
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26 February
Today’s news in brief-26/2/24
Frasers Group has announced the appointment of four new directors to its board, signalling a significant restructuring move. Among the appointees are David Al-Mudallal, the current chief operating officer, and Ger Wright, the managing director of Sports, who are elevated to executive director roles due to their notable contributions. Additionally,…
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26 February
Lululemon to open upsized flagship in Covent Garden
Athletic apparel brand lululemon will be relocating and upsizing its flagship store within The Yards, Covent Garden. Taking a new corner unit on Long Acre, the new 8,364 sq ft store will mark an 130% upsize. Set to open later this summer, the flagship West End store will showcase lululemon’s…
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26 February
Co-op opens newest local store in Welling
The Co-op has announced the opening of its newest 2,700 sq ft store in Welling on Wrotham Road, creating 18 jobs locally. The store, which has been designed to “serve and support the community conveniently”, offers customer car parking, an ATM, and parcel collection services with an InPost Locker. Meanwhile,…
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26 February
Tourist tax unlikely to be scrapped in Spring Budget
Tourist tax is unlikely to be overturned in the Spring Budget despite recent campaigning from UK retailers, The Times has revealed. Last week, it was reported that the Association of International Retail (AIR) and New West End Company have submitted new evidence to Downing Street suggesting that the amount of…
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26 February
Former Prince Andrew aide working on Currys takeover bid
Amanda Thirsk, former aide to Prince Andrew, is reportedly playing a key role in JD.com’s attempted takeover of Currys, according to Sky News. Thirsk, who quit her role as the Duke of York’s private secretary almost four years ago, is currently working in a senior business development role at JD.com.…
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26 February
Frasers appoints four new directors
Frasers Group has announced the appointment of four new directors to its board. David Al-Mudallal, chief operating officer at Frasers and Ger Wright, managing director of Sports, have joined the board as executive directors following their “significant contribution” to Frasers Group in their existing roles. Al-Mudallal joined the group in…
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26 February
Next mulls Body Shop rescue bid
Next has reportedly approached administrators with plans to acquire some of The Body Shop’s assets, according to Sky News. The news comes shortly after The Body Shop collapsed into administration, with administrators at FRP Advisory announcing they expected to close nearly half of The Body Shop’s 198 stores at the…
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