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.
-
Nov- 2023 -20 November
Walgreens to offload Boots pension scheme
Walgreens is set to pay £1bn to offload responsibility for Boots pension scheme, The Sunday Times has reported. It is believed that the move will be used to restart a sale process for the British beauty and pharmaceutical retailer. Walgreens Boots Alliance is said to be closing in on a…
Read More » -
20 November
Music Magpie in talks over potential sale
The board of Music Magpie has confirmed that it is in preliminary talks with BT Group plc and Aurelius Group over a potential offer to purchase all of MusicMagpie’s issued and to-be-issued share capital. It stated that discussions between the parties are ongoing and remain at a very early stage.…
Read More » -
20 November
Fortnum and Mason boss urges gov to scrap tourist tax
Fortnum and Mason boss Tom Athron has urged the government to scrap the tourist tax or risk businesses losing sales revenue to Paris, in an interview with This Is Money. Athron, chief executive of the luxury food store, stated that Paris was a “very attractive” destination for tourists due to…
Read More » -
20 November
Go Outdoors revenues halve as operating costs bite
Go Outdoors profits almost halved from £21.5m to £13m for the year ending 28 January 2023. The retailer of outdoor clothing and equipment attributed this decline in profits to property, utility and freight costs, which “increased disproportionately” during the financial year. However, according to filings on Companies House, the performance…
Read More » -
17 November
Co-op relaunches New Ash Green store following nine-week refurb
Co-op has reopened its store in New Ash Green, Kent yesterday (16 November), following a nine-week programme of works and improvements. The near 7,000 sq ft store – located on The Row, New Ash Green – supports approaching 30 local jobs, and opens between 7am-10pm between Monday and Saturday, and…
Read More » -
17 November
Today’s news in brief-17/11/23
HMV is set to make a comeback at its historic Oxford Street location, reopening on November 24, four years after the flagship store closed. The store at 363 Oxford Street, the site of the first HMV store in 1921, will create over 70 new jobs. The refurbished flagship will serve…
Read More » -
17 November
Luxury perfumier Creed opens flagship Covent Garden store
Shaftesbury Capital has announced that Creed, the luxury authentic perfume house, has opened its flagship store in Covent Garden, unveiling its new store design and third standalone boutique in the UK. Dedicated to the creation of artisan fragrances, heritage brand Creed has garnered a reputation as “one of the world’s…
Read More » -
17 November
Frasers Group opens multi-fascia store at Gateshead Metrocentre
Frasers Group has opened the doors to Sports Direct’s brand new 50,000 sq.ft multi-fascia store in Metrocentre, Gateshead including USC, Evans Cycles, and Game. Sports Direct’s new store offers specialist sporting areas for running, football, and outdoor, across men’s, women’s and kidswear, and brings Sports Direct’s Running Concept to customers.…
Read More » -
17 November
Amazon to begin selling cars next year
Online retail giant Amazon has announced that it is set to start selling cars online from next year. Customers in the US will be able to shop for, equip and purchase a car online before scheduling a delivery to a local car dealership. To begin with the scheme will be…
Read More » -
17 November
UK retail sales fall by 0.3% in October
Retail sales volumes fell by 0.3% in October 2023, following a fall of 1.1% in September 2023, according to the new figures from the Office for National Statistics (ONS). Automotive fuel sales volumes fell by 2.0% in October 2023, as retailers reported that consumers were spending their money more cautiously,…
Read More »
