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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Dec- 2023 -14 December
Piglet in Bed opens first store in Harrogate
The British bedding and lifestyle brand, Piglet in Bed, has opened its first store in Harrogate this December. The retailer, which is known for its 100% linen bedding and other natural homewares, has been running as an ecommerce-only business since it was founded in West Sussex in 2017. The store…
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14 December
Bullring & Grand Central welcomes new retail openings
Hammerson has announced a flurry of new openings at Bullring and Grand Central, the culmination of a transformational year for the Birmingham city centre destination. Nike, Bershka, Pull&Bear, and M&S have opened just in time for the busiest shopping period in the calendar, alongside the Coca-Cola truck having arrived at…
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14 December
Currys maintains FY guidance despite half-year loss
Currys has maintained its full-year guidance despite reporting a pre-tax loss of £16m in its half-year results, which was in line with the £17m loss in the same period last year. In the half year ended 28 October 2023, group like-for-like revenues dropped by 4%, while currency neutral revenue dropped…
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14 December
MusicMagpie revenues bolstered by Black Friday
MusicMagpie expects its full-year revenues to reach £136.6m, slightly down from £143.3m in the year prior, despite a “record” Black Friday period which has helped off-set a softer H1. However, the retailer maintained that consumer technology revenues for the second half increased 7.5% over the same period in 2022, and…
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14 December
Retailers urge government to reform Apprenticeship Levy
Three leading trade bodies and seven food retailers are calling for urgent action to reform the broken Apprenticeship Levy system and address the “critical and persistent” labour shortages in the food supply chains. In a letter sent to the government, the British Retail Consortium (BRC), the National Farmers Union (NFU)…
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14 December
Farfetch in talks with Apollo over rescue deal
Farfetch has reportedly entered talks with Apollo Global Management to secure emergency funding in a bid to rescue the group. According to Sky News, Apollo is one of a “number of firms” in talks with the group, with sources adding a deal was far from being reached, and that it…
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13 December
Today’s news in brief-13/12/23
Walgreens Boots Alliance (WBA), the US-based parent company of Boots, is reportedly exploring an initial public offering (IPO) on the London Stock Exchange, reviving plans to divest the pharmacy chain. Walgreens had abandoned a £5bn sale of Boots last year, citing challenges in global financial markets. The potential IPO is…
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13 December
Rituals becomes latest retailer to join Victoria Square
Rituals has become the latest retailer to join Victoria Square as the retail and leisure destination in Northern Ireland completes over 10 leases from international and national brands in the past 12 months. Located on the lower ground floor next to Ted Baker, Rituals new 3,530 sq ft store will…
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13 December
Shoppers to spend over £3bn in pre-Xmas ‘panic weekend’
The 16 and 17 December, so-called the ‘panic weekend’, will see shoppers spend £3.31bn as they rush to finish their Christmas shopping, according to a new report by VoucherCodes.co.uk. The report, which has looked into Christmas shopping habits in the build up to Christmas and Boxing Day, forecasts a “strong”…
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13 December
Inditex sales and profits rise amid strong autumn trading
Fashion retailer Inditex, the owner of Zara, has reported an 11.1% sales increase to €25.6bn (£22bn) for its 2023 nine months results, with trading boosted by sales from its Autumn and Winter collections. Over the same period, gross profits for the group increased 12.3% to €15.2bn (£13bn), while EBITDA increased…
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