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 -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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26 February
John Lewis to axe 200 contractors in an effort to cut costs
The John Lewis Partnership will be making approximately 200 contractors redundant from its customer service provider, Foundever, The Telegraph has reported. Foundever, which has been the retailer’s partner for the past 17 years, has handled the majority of its customer service with a team of 1,000 people. The news comes…
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23 February
Today’s news in brief-23/2/24
Consumer confidence in the UK dropped by two points to reach -21 in February, according to the GfK index. The survey highlighted decreases in various measures compared to the previous month, including personal finances and the country’s economic situation over the past year. However, there was no change in the…
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23 February
The Co-op opens new local franchise store in Sussex
The Co-op has opened a new store on Eastbourne Road, in Uckfield, which brings into use surplus space in the grounds of the Highlands Inn to create a “community hub”. The 2,500 sq ft purpose-built convenience store, which will operate as a Co-op franchise, will be open between 7am and…
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23 February
Mother’s Day spend to hit £1.7bn despite shoppers trading down
UK shoppers are set to spend £1.7bn on Mother’s Day this year, a 1.1% increase on 2023, as over half of consumers intend to purchase an item to celebrate the occasion, though price remains a main concern, according to the UK Mother’s Day Intentions 2024 report from GlobalData. However, Global…
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23 February
Shein eyes Boohoo suppliers for UK expansion
Shein has reportedly begun the process of onboarding a number of Boohoo suppliers as it ramps up its UK expansion, according to Drapers. The company reportedly sent an invitation email to suppliers used by Boohoo late last year, and some are now in discussions with Shein’s Chinese office in Guangzhou.…
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23 February
Sports Direct opens new flagship store in Cardiff
Sports Direct has today (23 February) opened its fourth flagship store in Cardiff, Wales, marking the launch of their new outdoor category. With a new and younger generation of outdoor adventurers on the rise and both developing and existing communities embracing the category, Sports Direct is now giving locals the…
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23 February
Gymshark FY23 PBT halves despite healthy sales
Gymshark has revealed that sales rose 15% to £556m in 2023, despite posting a pre-tax profits fall from £27.8m to £13m for the 12 months to 31 July. The activewear group attributed its rise in sales to the “relevance and quality” of its products, as EBITDA also rose in line…
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