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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Jan- 2024 -16 January
Today’s news in brief-16/1/24
Card Factory reported a 10% increase in total sales for the 11 months ending December 2023, reaching £476.9m, driven by robust Christmas trading. The like-for-like (LFL) store revenue surged 7.8% in November and December, attributed to increased transactions and higher average basket values. The Store Evolution Programme positively impacted space…
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16 January
Frasers Group to launch new flagship store in Kent
Frasers Group has announced that it has signed a new long-term lease agreement for its 101,921 sq ft unit at M&G Real Estate’s Maidstone town centre retail destination. The new agreement will see Frasers Group fully refurbish its current House of Fraser unit at Fremlin Walk into a flagship store…
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16 January
Wilko unveils two new store locations for spring
Wilko will be opening two new stores in St Albans and Rotherham in spring this year, with exact timings to be determined, along with news of further openings. The news comes as the national roll-out of the company’s stores post-rescue continues across England, Scotland, Wales and Northern Ireland. The stores…
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16 January
Card Factory hails strong Christmas trading
Card Factory has revealed total sales for the 11 months ended 31 December 2023 increased 10% to £476.9m after it was boosted by strong Christmas trading. The card retailer said that LFL store revenue jumped 7.8% in November and December, driven by the increased number of transactions and increased average…
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16 January
THG sees Q4 revenue growth amid Holland & Barrett partnership
THG has reported a 1.1% revenue increase to £597m during Q4 2023, driven primarily by the beauty and ingenuity divisions. The group’s beauty business built on “positive” Q3 exit momentum, delivering Q4 revenue growth of 2.6%. Performance in the UK (over half of total Beauty revenue) was especially strong, delivering…
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16 January
Ocado returns to earnings growth as sales soar
Ocado has returned to positive earnings in its full-year results after sales soared over the year, in part boosted by a “record” Christmas for the group. While full-year retail revenues rose by 7% to £2.35bn, sales in the final quarter of the year soared by 10.9% to £609.4m, marking a…
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16 January
Mike Ashley considers Meadowhall shopping centre bid
Mike Ashley is reportedly considering a bid to acquire Meadowhall shopping centre in Sheffield, according to The Times. Frasers Group, majority owned by Ashley, is “one of a handful of parties” that have registered an interest in the shopping centre. British Land and Norges Bank put the 1.4m sq ft…
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16 January
Superdrug sales rise 9.2% in December
Superdrug has experienced a strong Christmas trading period, as total sales rose 9.2% in the four weeks ended 30 December and like-for-like sales rose 7.1%. The retailer attributed its continued focus on its online and in-store offering, as well as investment in providing “high performance” products at an affordable price. …
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16 January
Hugo Boss sees revenues rise to €1.17bn in Q4
Hugo Boss has reported a 13% increase in currency-adjusted revenues in the fourth quarter to €1.17bn (£1.01bn). It also achieved record sales of €4.1bn (£3.6bn) in fiscal year 2023, up 15%. In the three-month period, currency-adjusted sales for Boss menswear were up 13% year over year to €914m (£787m) ,…
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15 January
Today’s news in brief-15/1/24
Shein, the fast-fashion brand, is reportedly facing delays in its plan to go public on the US stock exchange due to the need for approval from a Chinese regulator. The approval process is expected to be lengthy, and Shein is also expected to face stricter scrutiny from US regulators. The…
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