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 -19 October
Adidas ups full-year guidance following Yeezy sale boost
Adidas has raised its full-year guidance following better than expected preliminary results for Q3 2023. The German sportswear retailer noted that the company’s performance was “positively impacted” by the sale of parts of its remaining Yeezy inventory. As a result, the underlying business developed “better than expected”. The company now…
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18 October
THG commerce division Ingenuity strikes deal with L’Oréal
Ingenuity, the complete commerce division of THG plc, has signed a deal with L’Oréal to manage the direct-to-consumer (DTC) activities for two of L’Oréal Groups’ luxury division brands in North America. The agreement concluded between L’Oréal International Distribution and Ingenuity will leverage Ingenuity’s complete commerce solution of technology, operations and…
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18 October
One in six Black Friday purchases will be returned, data shows
Almost one in every six garments bought on Black Friday will be returned, with Gen Z and Millennials leading the way as the highest returning cohorts, according to the latest data from True Fit, the AI platform that decodes size and fit for consumers and retailers. Original research of over…
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18 October
Inflation remains at 6.7% despite fall in food prices
Inflation remained unchanged at 6.7% in September as a fall in food prices was offset by an increase in the price of fuel. According to the latest figures from the Office for National Statistics (ONS), food and non-alcoholic beverage prices fell by 0.1% between August and September 2023, compared with…
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18 October
Kurt Geiger owner eyes £400m sale
The private equity backers of Kurt Geiger are reportedly considering a £400m sale of the brand. According to Sky News, Cinven, which has owned the footwear company since 2015, is now working with advisors at Bank of America on a prospective auction. Sources told Sky that a sale process was…
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18 October
New Look losses widen to £88m despite healthy revenues
New Look has suffered a statutory loss before tax of £87.8m in its full-year results, down from £25.5m in FY22, despite total revenues increasing to £844.7m in the period, up from £839.6m last year. The group’s gross margin also increased 2.7% in the year to 45.8% due to considered price…
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18 October
Sosander to open first physical stores in 2024
UK fashion brand Sosandar is set to launch its first set of bricks and mortar stores in Spring 2024 after seeing continued growth in the market. The brand stated that the opening of the new stores will open up 60% of the £55bn annual clothing market in the UK that…
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18 October
Cake Box sales rise 6.2% in H1
Cake Box has reported that trading was in line with expectations in the first half of the year, with a 6.2% increase in LFL sales for the six months to 30 September, an improvement against the -1.6% reported for the same period the previous year. The cake retailer said that…
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17 October
John Lewis Partnership unveils new lifestyle brand
The John Lewis Partnership has unveiled Made With Care, the first design for a new lifestyle brand that will be curated with designers and creators who have grown up in the care system. A year since the Partnership used its biggest platform – the annual Christmas advert – to help…
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17 October
Arne opens pop-up shop at Liverpool One
Arne, the popular online men’s and women’s contemporary clothing and footwear brand, has officially welcomed customers to its second bricks-and-mortar activation at Liverpool One. Bringing its lucrative online brand to a physical format for the second time, Arne occupied a 3,500 sq ft unit in Liverpool One, from 14 to…
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