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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Mar- 2024 -19 March
JD Williams launches new Anthology collection
JD Williams, a leading platform within N Brown Group plc, has launched its new premium capsule collection, Anthology, for spring/summer 2024. The second Anthology range by JD Williams is in response to demand for the debut collection which launched in September last year. Demand for the initial range was driven…
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19 March
DFS lowers guidance and warns on Red Sea Crisis
DFS has revealed that it has lowered its full year profit guidance to between £20-£25m after market demands weakened in January and February Alongside this, the company lowered its revenue guidance down to £1bn-1.15bn, a £60-65m drop. The company has warned that these ranges do not factor in the risk…
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19 March
Castore agrees Umbro Pro Team Sports license
Castore has announced it has completed a deal with Umbro licensee, GL Dameck to sign an exclusive Umbro Professional Team Sports sub-license allowing Castore to market the Umbro brand in the UK, Germany, Austria, Switzerland, Belgium, Netherlands and Denmark. Following a £145m investment round in November 2023, Castore said it…
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19 March
Primark trials ‘sold’ stickers as anti-theft deterrent
Primark UK has started trialling a new anti-theft measure, which sees checkout staff at some of the fashion retailer’s branches seal up paper carrier bags with blue “sold” stickers. This measure means that any customers carrying bags without the stickers will be stopped at the door by store security guards. …
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19 March
Wickes welcomes ‘robust’ FY23 trading amid Solar Fast acquisition
Wickes has announced a “robust” trading performance for the year ended 30 December 2023 as it confirms that it has acquired a 51% stake in Gas Fast Limited, parent company of Solar Fast. In FY23, statutory profit before tax increased 2% to £41m as the group reported an 11% increase…
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19 March
Ikea introduces new round of price cuts ahead of Easter
Ikea has announced its next wave of price cuts on hundreds of its most popular items ahead of the Easter holidays, to provide customers with a more affordable life at home. The group is passing on £125m in savings as cost pressures ease out. As a result, 400 items are…
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19 March
Asda launches new staff benefits as it confirms pay rise
Asda has launched two new benefits for staff and confirmed that its proposal to raise retail pay rates to £12.04 per hour has been accepted by employees. The benefits include Care Concierge, which is managed by Legal and General and offers expert assistance in later-life care for loved ones, while…
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18 March
Today’s news in brief-18/3/24
The Saudi PIF, along with Kering, is reportedly eyeing a stake in Selfridges as the store’s co-owner, Central Group, faces financial struggles due to the collapse of its Austrian partner, Signa. The potential deal, valued around £2bn, is complicated by legal proceedings in Austria. Selfridges reported a narrowed loss and…
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18 March
Hype to target kids and families with new travel product range
Hype has announced its new growth strategy, which will centre around a product range of travel accessories aims at kids and families. By focusing on children and their families, the group aims to enhance its brand identity and strengthen its position in the market as a “go-to destination” for fashionable…
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18 March
Central Co-op raises hourly pay amid further benefits for employees
Central Co-op has announced significant investments in its employees by raising minimum pay to £12 an hour, alongside paid breaks and a suite of additional benefits aimed at enhancing workers well-being and flexibility. The pay increase, effective from 1 April, equates to an additional £2,535 per annum for a full-time…
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