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 -26 January
Superdry reports ‘challenging’ trading amid new CFO announcement
Superdry has revealed its half-year revenues are down 23.5% to £219.8m due to a “challenging” consumer retail market as it also announces the appointment of a new CFO. The wholesale division is down 41.1%, meanwhile the retail segment proved “more robust” in the first half but has also underperformed expectations…
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25 January
Today’s news in brief-25/1/24
Halfords reported that its Q3 total revenues were up 1.6%, with a 2.0% increase on a like-for-like basis. However, December sales were weaker than expected due to mild and wet weather impacting demand for winter products and footfall in stores. While October and November showed strong sales, the weaker December…
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25 January
Co-op launches sustainability pilot for farmers
Co-op has announced a pilot scheme to financially reward farmers in its beef supply chain for sustainable farming practices. In partnership with its supplier Dunbia, the convenience retailer outlined plans to rapidly decarbonise its supply chain in a new ‘Beef Sustainability Pilot’, which will see farmers rewarded for reducing their…
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25 January
N Brown Group appoints new chief people officer
N Brown Group, the fashion and homeware digital retailer, has appointed Natalie Rogers as the business’ new chief people officer. Rogers will lead the People function and team, with a focus on fully embedding the group’s agile operating model as it continues an enterprise wide agile transformation across all relevant…
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25 January
Dr Martens Q3 revenue drops 21% to £267.1m
Dr Martens has revealed that its revenues dropped 21% to £267.1m in the three months ended 31 December 2023. Alongside this, the company announced that its revenues dropped 18% to £273.8m on a constant currency basis. Furthermore, the company stated that its e-commerce revenue dropped 9% year-on-year and 8% on…
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25 January
Halfords maintains FY guidance despite weak December sales
Halfords has maintained its full-year guidance despite December sales being “much weaker” than expected. In its third quarter, total revenues were up by 1.6%, and 2.0% on a like-for-like basis. According to the group, stronger sales in Motoring and needs-based categories were partly offset by weaker spend in discretionary areas…
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25 January
White Stuff to open new flagship store in Liverpool
Lifestyle brand White Stuff has announced it is set to open a new flagship store at Liverpool One in the coming months. Located on Liverpool One’s Peter’s Lane, the new 1,800 sq. ft store will create 10 new jobs in the area, feature an “elevated” design format, and stock all…
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25 January
JD.com partners with Evri on European brand expansion in China
Chinese marketplace JD.com has announced a partnership with Evri in its effort to offer European brands more access to its consumer base in China. In a statement, the marketplace expressed that the partnership will help establish comprehensive two-way logistics services spanning China and Europe. The services will include Evri’s local…
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25 January
Puma sales dip in 2023 due to Argentinian peso devaluation
Puma achieved full-year currency-adjusted sales growth of 6.6%, with preliminary 2023 sales of €8.6bn (£7.3bn) due to the devaluation of the Argentinian peso by 54% in December 2023. The company said that the peso devaluation and its hyperinflationary accounting treatment led to a significant gap between the underlying operating performance…
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24 January
Today’s news in brief-24/1/24
The Chair of B&M, Peter Bamford, has confirmed his retirement this calendar year after serving in the role since March 2018. An executive search firm has been appointed to initiate the recruitment process for a new chair, led by senior independent director Tiffany Hall. While no retirement date has been…
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