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 -6 February
MINISO to open new store in Camden
Lifestyle retailer MINISO is opening its biggest-ever store in the UK in Camden. Located on Camden High Street, MINISO is opening its doors to the public on Wednesday, February 14 at noon. Spanning across an expansive 4,110 square feet, MINISO’s Camden store will stand as the brand’s largest retail space…
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6 February
Co-op calls for more effective use of Apprenticeship Levy
Co-op has called for private and public sector organisations to collaborate to ensure the Apprenticeship Levy is used more effectively to support young people. It comes as it was revealed this week that millions of pounds of funds remain unspent and have been returned to the central government, due to…
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6 February
Hobbs to open relocated stores after closure programme
Women’s clothing brand Hobbs is set to launch new stores in more favourable locations despite a string of closures, according to the Times. The group, which closed its London’s Bloomsbury, Victoria and Islington stores in recent weeks, will open in seven new locations confirmed for this year, including in Canary…
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6 February
Naked Wines appoints new CEO
Naked Wines has appointed Rodrigo Maza as its new chief executive officer designate. Maza has been the group’s UK managing director since September 2023, and will now work alongside chairman Rowan Gormley over the next few months to “ensure a successful transition”. After this, he will assume the group CEO…
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6 February
Retail sales slow as high cost of living enters third year
UK total retail sales increased by 1.2% year on year for the four weeks ended 27 January 2023, compared with a growth of 4.2% in January 2023, according to data from the British Retail Consortium (BRC). This was above the three-month average growth of 1.9% and below the 12-month average…
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6 February
Revolution Beauty reaches settlement agreement with co-founder
Revolution Beauty has reached a settlement agreement with its former CEO and co-founder Adam Minto, following an initial announcement on 13 December. The former CEO will pay the company a settlement sum of £2.9m in six annual instalments, with the first payment of £483,333.35 due on 28 March. Subsequent payments…
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6 February
Asda to open 110 stores in February
Asda will open 110 Asda Express convenience stores in February – a record for a single month – to accelerate its growth strategy in convenience and put it firmly on track to reach 1,000 UK stores in total for the first time. The supermarket will convert 109 former convenience stores…
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5 February
Today’s news in brief-5/2/24
Authentic Brands, the owner of Ted Baker, is reportedly exploring cost-saving options after terminating its relationship with AARC, the company responsible for Ted Baker’s UK operation. The potential measures include store closures, job cuts, or a Company Voluntary Agreement (CVA) to reduce rent rates or exit stores. Authentic had provided…
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5 February
The Lexicon to welcome three new leases
The Lexicon has announced a trio of high profile new lettings, after reporting rising footfall levels and increased consumer spending during 2023 across Bracknell town centre’s retail destination. Nationwide bar and cafes chain Lounges, known for its eclectic interior decoration and atmosphere, will occupy a 3,400 sq ft space. Meanwhile,…
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5 February
Superdrug aims to enrol 500 apprentices throughout the year
Superdrug has pledged to take on a further 500 apprentices throughout 2024 in support of National Apprenticeship Week (5-11 February). Last year, the health and beauty retailer pledged to recruit 500 new apprentices over three years. However, it proved to be successful, reaching over 80% of this recruitment target by…
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