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 -20 February
The Body Shop to reduce store estate by almost half as part of restructuring
FRP Advisory has announced that it expects keep “more than half” of the The Body Shop’s 198 store open at the end of its restructuring plans amid news it is closing seven stores today (20 February) in a bid to secure the future of the retailer. After years of unprofitability…
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20 February
Central Co-op opens new store in Hethersett
Central Co-op has officially opened its doors in Hethersett, creating 15 jobs for those living in the area. To celebrate the opening, Central Co-op welcomed customers and members into the store for the first time, as well as Norwich foodbank and 10 pupils from years four, five and six at…
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20 February
Currys shares soar 36% amid takeover interest
Currys shares soared 36% to 64.9p on Monday after it was revealed that Chinese e-commerce company JD.com has joined the potential list of suitors looking to acquire the retailer. The bid currently faces competition from US Investment Group Elliott, owner of Waterstones, which recently made a £700m preliminary offer for…
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20 February
Superdry founder in talks with US investor for take private deal
Superdry founder Julian Dunkerton is reportedly in talks with US investor Davidson Kempner as he seeks to put together a deal to take the company private, according to Sky News. The outlet said talks are at a preliminary stage and there is no guarantee that Davidson Kempner will agree to…
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20 February
Moody’s ‘cautiously optimistic’ over Iceland’s future despite weak results
Moody’s has said it is “cautiously optimistic” over Iceland Foods’ financial future and prospects of tackling its bond debt, despite the group reporting “weaker” than expected results. According to The Grocer, Moody’s statement, which covers results published to bond holders by Iceland VLNCo, gave an insight into the company’s leverage…
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20 February
DukesHill appoints new non-executive chairman
DukesHill Ham Company has appointed Chris Dee, former director of food and home at Harrods and CEO of Booths, as its new non-executive chairman. Dee brings three decades of food and drink retail, hospitality and FMCG experience, having specialised in the premium and luxury sectors. Alongside his previous executive experience…
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20 February
The Perfume Shop sales rise 18% over Valentine’s Day
The Perfume Shop experienced an 18% rise in sales volumes over Valentine’s Day, having sold 200,000 bottles of scent during its campaign. The retailer attributed its positive performance to a 67% increase in sales of classic fragrances and a 110% rise in gift sets year-on-year. Promotional deals also proved popular.…
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19 February
Wolf and Badger opens flagship shop in London
Wolf and Badger, the multi-channel retailer, has officially launched its UK flagship store at 102 Berwick Street, in Soho London. The opening represents a milestone moment in the brand’s bricks-and-mortar presence, and reaffirms Shaftesbury Capital’s portfolio-wide appeal to high-quality retailers. Wolf and Badger’s 1,400 sq ft unit at 102 Berwick…
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19 February
Today’s news in brief-19/2/24
Nike has announced plans to cut 1,600 jobs, approximately 2% of its workforce, in response to disappointing sales figures in the latter half of 2023. This move comes as the company seeks to streamline operations and focus on key growth areas, such as running, women’s apparel, and the Jordan brand.…
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19 February
Co-op reopens St Ives store following six-week refurb programme
Co-op has relaunched its Royal Square, St Ives, store following a six-week programme of works and improvements. The store, which opens daily and supports 12 local jobs, is one of three of the retailer’s stores St Ives, with others located in The Stennack and Tregenna Place. Designed to serve and…
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