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 -13 February
Frasers ups stake in N Brown to 20%
Frasers Group has revealed it has increased its stake in fashion retailer N Brown to 20%, according to the latest holding documents filed by the company. The pure play retailer’s brands include Jacamo, Simply Be and JD Williams and was founded in 1859 in Manchester – where its headquarters remain…
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13 February
Wet weather sees footfall slump 5.2%
Heavy rain and snow across some parts of the UK saw footfall drop 5.2% across all retail destinations when compared with the previous year, according to the latest data from MRI Springboard. Footfall declined 7.9% in high streets with many office workers choosing to work from home where possible, with…
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13 February
Aldi to invest £550m in store and distribution network
Aldi will invest more than £550m in expanding and further improving its store and distribution network during 2024. This includes plans to open stores in new locations up and down the country, as well as upgrading its existing stores and distribution centres to support growth. New stores set to open…
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13 February
Yodel rescued by rival firm Shift
Yodel has announced that it has been acquired by YDLGP Limited, a newly formed company backed by rival firm Shift, for an undisclosed amount. YDLGP is also backed by a consortium of investors including Solano Partners Ltd, an independent boutique investment bank who also advised on the acquisition Yodel also…
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13 February
Matalan appoints new CFO
Matalan has announced the appointment of Dave Williams to the initial role of chief financial officer designate, which will graduate to the full CFO role and a position on the retailer’s board. The announcement comes as the latest CFO Stephen Hill has decided to “step down and pursue his next…
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12 February
Ingenuity appoints Alistair Crane as chairman
Ingenuity, the complete commerce business of THG plc, has appointed technology and payments entrepreneur Alistair Crane as its first chairman to support plans to accelerate growth in core markets including the US. Crane, who joined THG on 2 January, is currently chief executive of digital career coaching business Bloom, has…
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12 February
Superdrug to open new store in West Midlands
Superdrug has opened a new store in West Bromwich, in the West Midlands, which offers a pharmacy, beauty services, luxury fragrances and exclusive brands. The new 8,000 sq ft store is located in New Square Shopping Centre and has created 35 new jobs. Superdrug West Bromwich offers a range of…
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12 February
The Body Shop set to appoint administrators
The Body Shop is reportedly set to appoint administrators from FRP Advisory, threatening “significant” shop closures and job losses, according to Sky News. On Saturday it was revealed that the skincare and cosmetics retailer is considering closing a significant number of shops, although the exact number remains unknown. The announcement…
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12 February
Evri owner plans offloading business in £2bn deal
Evri owner Advent International is reportedly considering offloading the business for £2bn, according to The Mail. The report stated that Advent International is in talks with advisers from investment bank Rothschild to explore options for the company, including a potential sale. Advent International acquired a 75% stake in Evri, formerly…
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12 February
Hermes FY23 profits hit €4.3bn
Luxury fashion group Hermes has reported that net profits hit €4.3bn (£3.6bn) during 2023, an increase of 28% compared with the previous year, as sales rose 16% to €13.4bn (£11.4bn). The news comes as, in Q4, sales hit €3.3m (£2.8m), an increase of 18% despite the “particularly” high comparison base…
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