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 -7 November
Shein eyes Topshop move
Fast fashion brand Shein has reportedly formally registered its interest in making an offer for Topshop, The Times has reported. The news comes right after the company acquired Missguided and its intellectual property rights from Frasers Group last week for an undisclosed amount. Topshop was acquired by Asos for £330m…
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6 November
Wilko to open first three concept stores before Christmas
Wilko will be opening five stores in Plymouth, Exeter and Luton before Christmas ahead of a wider roll out in 2024. The Plymouth store, which will be located at Unit A, Armada Centre, Mayflower Street, will open on 1 December, while the Exeter Store will open at Unit 100, Guildhall…
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6 November
Today’s news in brief-6/11/23
The future ownership of the iconic London department store, Selfridges, is reportedly in question as co-owner Signa grapples with a financial crisis. Restructuring experts have been enlisted to help Signa raise funds amidst rising borrowing costs and falling property valuations. The sale of Signa’s 50% stake in Selfridges is likely,…
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6 November
Chinti & Parker and Aspiga open in King’s Road
The Sloane Stanley Estate has announced that luxury womenswear brand, Chinti and Parker, has opened its first permanent store on the King’s Road following a raft of pop-ups over the last two years, as well as a new pop-up for ethical and sustainable fashion label, Aspiga. Boasting luxury cashmere and…
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6 November
Morrisons slashes prices on festive items
Morrisons has cut prices of 58 “popular” festive items and is committing to keeping the prices low until 31 December. Products such as stuffing, roast potatoes, cranberry sauce and tin foil will see price cuts from today (6 November) so that shoppers can stock up ahead of Christmas day. The…
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6 November
Selfridges ownership uncertain as co-owner faces cash crisis
The future ownership of Selfridges is said to be uncertain following reports that its co-owner Signa is facing a financial crisis, according to The Times. Restructuring experts have reportedly been called in to help the real estate company raise funds after it was hit by rising borrowing costs and falling…
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6 November
UK retailers join forces to sign Wrap’s Textiles 2030 initiative
More than 30 retailers have signed up to Wrap’s Textiles 2030 initiative to reduce the carbon impact of the textiles they produce. Textiles 2030 was launched last year by climate action NGO Wrap, which stands for Waste & Resources Action Programme, in an effort to accelerate the UK fashion industry…
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6 November
White Stuff profits and sales soar
Fashion retailer White Stuff has revealed that its EBITDA rose 141% to £7m, up from £2.9m, for the year ended 29th April 2023. Alongside this, the company’s total sales rose 13.3% up to £151.4m which was an increase of £17.8m. The company posted retail sales of £73.9m, up 18.1%, online…
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6 November
M&S to open record number of stores this month amid £80m investment
M&S will be opening nine new stores across the month of November – the most it has ever opened in one month – following a £80m investment in sustainable bricks-and-mortar retail. The openings, which will also create over 2,200 local jobs, will kick off with a new 65,000 sq ft…
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3 November
Today’s news in brief-3/11/23
In October, footfall in the UK dropped by 5.7% year-on-year, with high streets experiencing a 4.6% decrease, compared to a -1.7% in September. Retail parks and shopping centres also saw declines of 4.3% and 7.3% respectively. England had the smallest drop at 5.3%, followed by Scotland at 1.4%, Wales at…
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