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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Oct- 2023 -31 October
Ugg owner revenues rise by 25% in Q2
The owner of Ugg and sportswear label Hoka, Deckers, saw a 25% year-on-year rise in revenues to $1.09bn (£900m) in Q2 for the period ended 30 September. The group attributed its performance to rising demand for Ugg and Hoka, as sales for the two products jumped 28.1% year-on-year to $610.5m…
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30 October
Today’s news in brief-30/10/23
Shein has acquired the Missguided brand from Frasers Group. This move will make Missguided products and collections available to Shein’s 150 million global users through both Shein and Missguided’s websites. Additionally, Shein has entered into an agreement to licence the Missguided brand’s intellectual property to SUMWON Studios, a joint venture…
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30 October
M&S to sell Jaeger brand in 20 more stores
Marks and Spencer has today (30 October) announced that fashion brand Jaeger will open in a further 20 stores across the UK, following the iconic heritage brand’s ongoing success in store and online. Following a successful trial last year, where selected M&S stores welcomed a dedicated space for Jaeger, M&S…
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30 October
Andrews Tiles launches TheTilersHub.co.uk
Andrews Tiles has announced the launch of its online venture TheTilersHub.co.uk, which sells DIY products with next day delivery. The launch comes after the retailer made a “considerable” expansion this year, which included two new site openings in Seacroft and Stockport in Greater Manchester. The retailer attributed its expansion to…
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30 October
Asos considers sale of Topshop brand
British online fashion retailer Asos is considering the sale of Topshop after buying the brand less than three years ago, Sky News has reported. The online giant is understood to be at the early stages of a process which could see it offload what was once one of the most…
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30 October
Aurelius enters exclusive talks to acquire The Body Shop
Aurelius Group has entered into exclusive talks to acquire The Body Shop from Natura and Co, according to reports from Sky News. Banking sources told Sky that the deal for the brand which Natura put up for sale over the summer was expected to be completed next month. If completed,…
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30 October
Frasers mulls rescue of Wiggle after collapse
Frasers is mulling over rescuing online bike retailer Wiggle after it collapsed into administration earlier last week, Sky News has reported. According to Sky, the retailer, best known for its Sports Direct chain, is one of a few other groups looking to rescue WiggleCRC. WiggleCRC, which includes Wiggle, Chain Reaction…
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30 October
Shein acquires Missguided brand from Frasers
Shein has acquired the Missguided brand from Frasers Group. Following the move, Missguided products and collections will be made available to Shein’s 150 million global users as an independent brand via Shein sites, as well as on Missguided.com. Shein also confirmed that it has entered into an agreement to licence…
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30 October
Cake Box appoints new chairman
Cake Box has announced the appointment of Martin Blair, currently non-executive director, as its new chairman. The appointment of Blair follows a thorough recruitment process carried out by the board over the last few months during which a number of external candidates were interviewed. Blair will succeed Nilesh (Neil) Sachdev…
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27 October
Today’s news in brief-27/10/23
Tesco has appointed Matthew Barnes as the new UK CEO, effective March 2024, succeeding Jason Tarry, who will step down after 33 years with the company. Barnes, with extensive experience at Aldi, previously served as UK&I CEO and co-head of Aldi Sud’s executive board. Under Tarry’s leadership, Tesco underwent a…
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