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 -16 October
Ted Baker owner steps in to ease financing trouble
Ted Baker owner Authentic Brands has stepped in after the company it appointed to run its UK operations has struggled to raise financing, according to reports from The Times. Authentic Brands paid £211m last year for the brand and intellectual property of Ted Baker and appointed retail management company AARC…
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16 October
Frasers ups stake in Boohoo to 15.1%
Mike Ashley’s Frasers Group has upped its stake in Boohoo to 15.1% as it continues investing in a number of UK fashion retailers. The news comes after Frasers increased its holding from 10.4% to 13.4% last week. It now holds 191,808,425 voting rights in the company. The group had previously…
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16 October
Next acquires FatFace for £115.2m
Next has signed terms to acquire FatFace for £115.2m, which will be partly settled in cash and by the issue of the retail group’s shares and management equity rolling over into the new structure. According to Next, the transaction will not materially impact the group’s underlying profit before tax or…
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13 October
Today’s news in brief-13/10/23
The John Lewis Partnership has appointed Martin Gafsen as its new director of property. Gafsen, previously the interim corporate finance director at Royal Mail, brings extensive experience in property management. He led the strategy for Royal Mail’s nationwide freehold and leasehold estate for 16 years. Additionally, Gafsen was responsible for…
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13 October
Tesco to hire 30,000 people ahead of Christmas season
Tesco is planning to recruit 30,000 temporary workers across the UK to help customers during the busy Christmas period. The jobs will mainly involve working in Tesco’s Superstores and Extra stores for either early morning, day or evening shifts, so that prospective applicants can find an opportunity that fits around…
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13 October
Wilko launches online as part of The Range
Wilko.com has started home delivery for online orders yesterday (12 October) with a selection of products and brands available via its ‘marketplace’ format. Formerly the online hub for Wilko, which recently collapsed, it is now part of home and leisure retailer, The Range. Shoppers will also see Wilko-branded products appear…
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13 October
John Lewis Partnership appoints new property director
The John Lewis Partnership has announced it has appointed Royal Mail’s interim corporate finance director, Martin Gafsen, as its new director of property. Gafsen, who will officially join on 13 November, was Property and Facilities director for the Royal Mail Group for 16 years, leading the strategy for its nationwide…
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13 October
Boots revenues up 12.5% due to skincare and luxury sales
Boots has reported a 12% jump in sales for the fourth quarter ended 31 August, which contributed to a 12.5% increase in revenues for the full year. According to the retailer, skincare and luxury beauty products were the best performing categories for the period. Sales of skincare products increased by…
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13 October
Ikea sees sales jump 6% to €47.6bn
Ikea has posted sales of €47.6bn (£41.1bn), up 6.6% compared with FY22, for the year ended 31 August 2023 despite facing what it called the “continued challenge of lower sales quantities”. Alongside this, the company’s UK sales rose 11.9% to £2.46bn, with the company stating that number was boosted by…
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13 October
Sainsbury’s to create 22,000 seasonal roles
Sainsbury’s is creating 22,000 additional seasonal roles ahead of Christmas trading, including 2,000 new roles at Argos. The supermarket said it is recruiting temporary colleagues earlier than usual this year, starting as early as this week. It said this will “ensure there are plenty of colleagues ready to help and…
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