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 -1 November
Next lifts FY profit guidance despite autumn sales drop
Next has raised its full-year profit guidance for the fourth time this year, despite weekly sales falling by 7% in September due to the unusually warm weather. However, the retailer’s recent Q3 results showed that sales bounced back once colder weather came in last month, increasing by 16% and 11%…
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1 November
Asos posts £296.7m loss before tax in FY23
Asos has announced a statutory loss-before-tax of £296.7m for the year ended 3 September 2023 down from a loss before tax of £31.9m in 2022. The performance comes as Asos revealed it anticipates a second year of falling sales, forecasting a decline of 5% to 15% in FY24. The embattled…
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1 November
Secret Sales expands into Ireland
Secret Sales, a marketplace for off-price retail in fashion, sportswear and beauty, has announced its expansion into Ireland. According to Secret Sales, the platform’s new market launch opens the door for brands and retailers to expand their off-price strategy to reach a potential 3.4 million Irish online consumers. The platform…
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Oct- 2023 -31 October
Today’s news in brief-31/10/23
The British Retail Consortium reports a drop in shop price inflation to 5.2% in October, down from 6.2% in September, marking the lowest rate since August 2022. Non-food inflation also declined to 3.4%, the lowest since September 2022. Food inflation decelerated to 8.8%, and fresh food inflation decreased to 8.3%,…
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31 October
Sainsbury’s unveils personalised Nectar prices
Sainsbury’s has launched personalised lower prices for Nectar Card users on its website and in-store under its ‘Your Nectar Prices’ scheme. Until now, Nectar Prices have only been available to digital Nectar users when shopping in Sainsbury’s stores using SmartShop. The launch of Your Nectar Prices on the website means…
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31 October
Naked Wines appoints Rodrigo Maza as UK MD
Naked Wines has announced Rodrigo Maza as its new managing director for its UK business. Maza joins from AB InBev where he was most recently expansion markets managing director. He also spent over 17 years at Mexican brewery Grupo Modelo, rising to the position of sales execution manager. He succeeds…
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31 October
Shop price inflation reaches lowest point since August 2022
Shop price annual inflation has dropped to 5.2% in October, down from 6.2% in September, reaching its lowest point since August 2022, according to data from the British Retail Consortium (BRC). As a result the BRC has called upon the chancellor not to burden businesses with “unnecessary new costs” to…
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31 October
Shein appoints ex-PLT buying director as chief product officer
Shein has recently appointed Gemma Dunne to the recently-created role of chief product officer, according to Drapers. Formerly PrettyLittleThing buying director, Dunne left the job after 10 years with the company and is understood to have started her new role at Shein last month. Her fashion career began in 2013…
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31 October
N Brown appoints new Simply Be general manager
Fashion and homeware digital retailer N Brown Group plc has announced the appointment of Heidi Kenyon-Smith as the new general manager of Simply Be. Kenyon-Smith brings significant digital, womenswear and media expertise to N Brown, with over 20 years of industry experience, and joins the business from the dentsu media…
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31 October
Footasylum furthers expansion with new Birmingham and Watford stores
Footasylum has continued its expansion with the opening of two new stores, having opened a new site in the Bullring in Birmingham, and one in the atria shopping centre in Watford. Following these openings, the group said an upsized store in Fosse Park Leicester will also be opening next month. …
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