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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Nov- 2023 -13 November
Tommy Hilfiger and Calvin Klein open at Caledonia Park
Tommy Hilfiger and Calvin Klein have opened at Caledonia Park, Scotland’s premium designer outlet village. Tommy Hilfiger has opened a 5,000 sq ft store at the centre, joining anchor brands such as Nike, Adidas, and POLO by Ralph Lauren. Stocking menswear and womenswear defined by the brand’s “classic American cool”…
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13 November
Richemont appoints Karlheinz Baumann to senior executive committee
Richemont has appointed Karlheinz Baumann to the group’s Senior Executive Committee (SEC) in his capacity as group director of Operations, in charge of Manufacturing, Research and Innovation, Customer Service, Logistics and Supply Chain, Indirect Procurement, Responsible Sourcing and Security. Baumann will continue to report to Jérôme Lambert, CEO of Richemont…
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13 November
Ikea owner snaps up Brighton shopping centre
Ikea’s owner Ingka Group has reportedly acquired Brighton’s Churchill Square Shopping Centre, According to The Guardian. The £145m deal will see the furniture retailer converting Brighton’s Churchill Square Centre into a new Ikea store, which is expected to open within two years. The latest acquisition comes three years after the…
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13 November
Two-thirds of retailers warn peak trading will be hit ahead of Christmas
Two-thirds of retailers say the ‘double whammy’ of spiralling interest rates and inflation will hit peak trading in the run-up to Christmas, according to a new Inventory Planner survey. More than four out of ten sellers (41%) are planning to buy less stock for festive shoppers because of the impact of 14…
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13 November
Dune delays sales process
The sale of Dune has been delayed as the company has not received a bid which matched its valuation, according to reports from Drapers. The retailer has received offers from Footasylum owner Aurelius and Next for founder Daniel Rubin’s controlling stake in the business. Dune appointed KPMG to run its…
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13 November
Theft to cost retailers £7.9bn in 2023, study finds
It has been forecast that retail theft will cost UK retailers £7.9bn this year, according to new research by Thruvision Group plc and Retail Economics. Thruvision, a provider of walk-through security technology, and Retail Economics stated that shoppers account for 60% of the value of the theft (£4.7bn) while employees,…
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13 November
Majestic Wine plans 50 new store openings
Majestic Wine is planning to expand its high street presence with the opening of 50 more stores over the next four or five years, its boss has told The Telegraph. CEO John Colley told the paper that brick-and-mortar sites will remain “sacrosanct” for the group, which has already opened 15…
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13 November
The Range losses widen to £11.7m in FY23
The Range has reported that losses have widened to £11.7m, falling more than 10% in the financial year ended 29 January 2023. Gross profit margins also dropped from 33% to 31.9% in the year, which the retailer attributed to higher costs of goods purchased and freight costs, as well as…
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10 November
Today’s news in brief-10/11/23
The Office for National Statistics (ONS) has reported that the UK GDP showed no growth in Q3 2023, in contrast to a 0.2% increase in the previous quarter. Year-on-year, GDP increased by 0.6% in Q3. The services sector saw a 0.1% fall, offset by a 0.1% increase in construction output…
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10 November
Majestic partners with Rest Less on over-50s staff recruitment
Majestic has announced a new partnership with Rest Less as part of a drive to attract a greater number of older colleagues into the business. Rest Less, a digital platform for the over-50s, was launched in 2019 with a mission to help its members get the most out of life,…
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