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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Dec- 2023 -6 December
Moonpig sales and profit rise in H1
Moonpig has welcomed a rise in sales and profits in the first half of the year, as the group continued to focus on technology advancements over the period. Revenues returned to growth and rose by 6.5% to £152.1m, while profit-before-tax was £20.8m, up from £18.9m the prior year. Meanwhile, adjusted…
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6 December
Sergio Rossi appoints new CEO
Luxury Italian footwear and accessories brand Sergio Rossi has announced the appointment of Helen Wright as its new CEO, effective immediately. Wright joins after service as the CEO at dancewear footwear company, Bloch International. She was previously also CEO at Belstaff from 2017 to 2020 and at luxury accessories brand…
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5 December
Today’s news in brief-5/12/23
Independent luxury retailer Jules B is reportedly contemplating a Company Voluntary Arrangement (CVA) following a ransomware attack that occurred in September. The MD and co-founder, Julian Blades, has sought assistance from KSA Group to navigate through the financial challenges. The retailer aims to focus more on its website, which constitutes…
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5 December
Lounge opens pop-up at Liverpool One
Underwear brand Lounge has launched its Christmas pop-up store on Liverpool One’s South John Street that will run until December 23. The 4,000 sq ft store delivers a premium shopping experience showcasing the brand’s range of lingerie, loungewear, and nightwear. Championing its ‘Comfort Made Sexy’ tagline, the store offers fully…
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5 December
Jules B eyes CVA following ransomware attack
Independent luxury retailer Jules B is reportedly considering a company voluntary arrangement (CVA), following a £79,200 ransomware attack in September, According to Drapers. The proposal to implement a CVA comes after the MD and co-founder of Jules B, Julian Blades, is said to have appointed KSA Group to help it…
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5 December
December to see £13bn in grocery sales for first time, Kantar says
Take-home grocery sales are expected to surpass £13bn for the first time ever this December, according to marketing data and analytics company Kantar. It comes as its latest figures found that sales grew by 6.3% over the four weeks to 26 November 2023 to reach £11.7bn. Kantar said the cost…
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5 December
THG acquires skincare brand Biossance
THG has agreed to acquire skincare brand Biossance from US biotechnology group Amyris Inc for a maximum consideration of $20m (£15.8m). Since inception in 2015, Biossance has generated global revenues of $300m (£237m) and is currently stocked in over 1,600 stores globally including Sephora, Harrods, Space NK, Douglas and Selfridges…
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5 December
Marks and Spencer extends Christmas trading hours
Marks and Spencer has announced that it has extended its Christmas trading hours from 18-22 December with more than 400 stores open from 6am until 10pm. Additionally, a number of stores will also be open until 10pm on 23 December and 4pm on Christmas Eve for last minute Christmas shoppers.…
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5 December
Quiz launches strategic review after £1.5m loss
Quiz has announced that it has launched a strategic review after it posted a pre-tax loss of £1.5m for the six months ended 30 September 2023. This loss comes after the company posted a profit of £1.8m in the same period last year, with the retailer putting this drop down…
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4 December
Superdrug opens new store in Brent Cross Shopping Centre
Superdrug has opened a new 6,000 sq ft store in Brent Cross Shopping Centre today (4 December), creating 45 new jobs. The new store, which is one of the retailer’s largest within the M25, will offer customers access to the latest health and beauty products, everyday toiletries, beauty treatments and…
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