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 -10 November
Travelex appoints new global retail director
Travelex has appointed Jackie Uhi as global retail director to drive the next stage of its retail development and international expansion. Uhi, who joins from HSBC, will be responsible for driving strategy, delivery, expansion and innovation across the company’s retail portfolio, which includes more than 1,100 stores and 900 ATMs…
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10 November
Waitrose invests in AI to improve online shopping offering
Waitrose has announced a partnership with Netcore Unbxd to integrate AI into its online shopping offering. The new partnership will allow Waitrose to use AI to improve its online search and browsing experience, and develop personalised and tailored experiences for customers. It will allow Waitrose to improve customer service based…
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10 November
UK economy stagnates in Q3
UK GDP has shown no growth in July-September (Q3) compared with an increase of 0.2% in the previous quarter, according to the latest data from the Office for National Statistics (ONS). Compared with the same quarter a year ago, GDP is estimated to have increased by 0.6% in Q3 2023.…
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10 November
Vinted launches item verification service for designer products
Vinted, The online marketplace for second-hand fashion, has launched a new item verification service in the UK in a bid to increase trust in the authenticity of higher-priced, second-hand items and to combat counterfeiters. The service is an optional paid service to check the authenticity of selected designer items, carried…
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10 November
Asos to launch first pop-up store ahead of Black Friday
Asos is set to launch its first four-storey pop-up store in Central London from 23-26 November. The Asos In Real Life pop-up will welcome customers to an immersive space at 11 Rathbone Place, where they will be able to experience its fashion “first-hand”, with a curated edit of AW23 collections…
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9 November
Today’s news in brief-9/11/23
Bridgestone has invested $3m for a 5% stake in Halfords’ Avayler business. Avayler, a software-as-a-service (SaaS) provider, helps automotive companies digitise their services, from online booking to invoicing. Under a 15-year Commercial Agreement, Avayler will provide Bridgestone with access to its software products and related services for use in Bridgestone’s…
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9 November
SPAR appoints three new directors
SPAR UK Ltd has announced three new director appointments at the Central Office in Harrow. Trudy Hills will be trading director – grocery, Simon Mitchell has been promoted to trading director – BWS, fresh and frozen and further bolstering the Central Office team, Jamie Seymour has advanced to SPAR brand…
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9 November
Just Hype appoints new CEO and COO
Lifestyle and accessories brand Just Hype has announced the appointments of Mike Thompson as its new chief executive officer and Shireen Saloojee as the new chief operating officer. The appointment to CEO comes in the form of a promotion, having previously held the COO title at the company. His time…
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9 November
Under Armour lowers full-year revenue forecast as Q2 sales flatten
Under Armour has lowered its full-year revenue forecast as its revenues stagnated in Q2. In the three months to 30 September its revenues dropped 1% to $1.6bn (£1.3bn). Wholesale revenues also fell 1% to $940m (£765m). As such, Under Armour stated that it now expects full-year revenues to be down…
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9 November
The Works lowers guidance due to sales uncertainty
The Works has announced that it has lowered its full-year guidance to an adjusted EBITDA of approximately £6.0m due to uncertainty in the second half of the year. The company stated that it anticipates trading conditions during H2 FY24 tol remain challenging and consumer spend to be subdued. However, the…
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