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
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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12 February
Dobbies appoints Andy Hannan as commercial director
Dobbies, the garden centre retailer, has appointed Andy Hannan as commercial director to lead its new strategy. With “extensive experience” from across the retail sector, Hannan has previously held senior commercial roles at retailers such as Homebase, Halfords, Jessops and Argos, where he was part of the team that led…
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12 February
Tesco boss calls for youth employment reform
Tesco CEO Ken Murphy has called on the government to make youth employment a priority, claiming the apprenticeship levy is “restrictive and impractical”, and that reform is needed. Writing in This Is Money, Murphy also announced a new Tesco apprenticeship scheme for 16-18-year-olds, aimed at students that are “struggling and…
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9 February
Five lessons from the demise of The Body Shop
In the face of recent news that The Body Shop’s UK operations are preparing to enter administration, a reflection on the missteps leading to this situation offers valuable lessons for the broader retail industry. The iconic brand, founded on ethical principles and sustainability, now finds itself at a crossroads, underscoring…
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