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
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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15 January
Harvey Norman to open flagship at Merry Hill
Lifestyle, technology, and entertainment retailer Harvey Norman has recently signed a lease for a flagship store at Merry Hill. The new location will offer the retailer’s selection of luxury furniture, including sofas, dining sets, as well as outdoor furniture. A range of homeware products will also be on offer, including…
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15 January
WCF Ltd acquires Bella di Notte
Mail-order clothing firm WCF Ltd has acquired a North Yorkshire-based lingerie and clothing firm Bella di Notte as part of its continued expansion for an undisclosed sum. Bella di Notte, which specialises in Italian lingerie and better-fit fashion for mature women, will complement WCF’s existing national mail-order clothing brands which…
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15 January
Morrisons owner appoints ex-Tesco CEO Dave Lewis as operating advisor
Morrisons owner Clayton, Dubilier and Rice (CD&R) has today (15 January) announced the appointment of Sir Dave Lewis as an operating advisor to CD&R funds. Lewis will draw on his more than 30 years of leadership experience within the global consumer goods and retail sectors to support the firm in…
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15 January
Asda trials four-day week in bid to stamp out manager revolt
Asda is trialling a four-day week in a bid to “stamp out revolt” amongst the supermarket’s store managers following a rise in staff turnover, The Telegraph has reported. The business is reportedly looking to rebuild relations with senior staff after ongoing cost cuts and concerns over company culture have led…
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15 January
Chinese regulator delays Shein US IPO
Fast fashion brand Shein’s plan to take the firm public on the US stock exchange may be delayed after it applied for approval from a Chinese regulator, according to reports from Reuters. The IPO may be delayed as a result of the potential decision the Chinese regulator may make, with…
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15 January
Mango creates brand management division
Mango has announced the creation of a new brand management division in order to strengthen its executive leadership in all areas related to the company’s image, brand and customer experience. The new management division will be led by Blanca Muñiz, who will join the group as its new chief brand…
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15 January
Gap appoints chief business and strategy officer and chief people officer
Gap has appointed Eric Chan as chief business and strategy officer and Amy Thompson as chief people officer. Both leaders will join Gap’s executive leadership team and report to Gap president and chief executive officer, Richard Dickson. Chan has more than 20 years of financial and operational leadership experience at…
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