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 -17 January
Poundland to begin refurbishing 11 former Wilko stores
Poundland has announced it will begin a major makeover of 11 former Wilko stores in the next few weeks, after acquiring Wilko stores in the administration process. The first former Wilko stores to be refurbished will be located in Leigh, Peterlee and Ammanford, with the work due to be completed…
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17 January
Inflation unexpectedly rises in December
Inflation unexpectedly increased to 4% in December off the back of rises in fuel and tobacco prices. According to the latest figures from the Office for National Statistics (ONS) the small rise in the annual rate between November and December 2023 was a result of prices rising by 0.4% on…
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17 January
Uniqlo files suit against Shein for ‘copying’ viral shoulder bag
Uniqlo is reportedly suing Shein over claims that it has copied its viral “Mary Poppins” shoulder bags, the BBC has reported. The news comes after Uniqlo’s owner, Fast Retailing, filed a petition in the Tokyo District Court against Shein Japan and two subsidiaries in late December. The Japanese retailer argues…
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17 January
Mulberry revenue falls 8.4% amid luxury spending slowdown
Mulberry has revealed that its group revenue dropped 8.4% for the 13 weeks ended 30 December 2023. The company stated that this was impacted by the challenging macroeconomic backdrop and decline in luxury consumer spending. Mulberry also revealed that in the run up to Christmas it maintained its full price…
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17 January
Superdry hires PwC to explore debt options
Superdry is believed to have appointed accountancy firm PwC to explore its debt options, Sky News has revealed. The clothing retailer is supposedly working with advisers from the firm to review the funding options following a pre-Christmas profit warning. The news comes after Superdry reported YoY sales decrease of 13.1%…
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17 January
Footfall climbed 3.3% in 2023 despite cost-of-living crisis
Footfall steadily rose by 3.3% in 2023 compared with the previous year, despite the rising prominence of the cost of living crisis, according to MRI Software’s latest retail outlook report. The findings suggest that consumers found a way to spread costs, as retail “stood firm” in the face of the…
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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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