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 -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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13 October
Dunelm green targets approved by SBTi
Dunelm has announced that its greenhouse gas emissions targets have been approved by the Science Based Targets initiative (SBTi). Dunelm has become the first dedicated homewares specialist and one of the first companies globally to set short and long-term company-wide emission reduction targets in line with climate science, following a…
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13 October
Miniso opens new flagship store on Oxford Street
Globally recognised lifestyle retailer Miniso has signed a five-year lease for its new flagship store on Oxford Street. The retailer has become the latest one signing a new agreement in the block following the likes of Claire’s, Ann Summers and Intimissimi. The property provides approximately 3,200 ft of retail accommodation…
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12 October
Today’s news in brief-12/10/23
Next is reportedly in the final stages of acquiring clothing brand FatFace in a deal worth over £100 million. This move follows Next’s recent acquisitions, including a majority stake in Reiss, the brand name and assets of Cath Kidston, and the acquisition of Made.com. The group also has investments in…
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12 October
Uniqlo owner revenues rise 20.2% in FY23
Uniqlo’s parent company, Fast Retailing, has revealed a 20.2% rise in year-on-year revenues to ¥2.7tn (£15bn) for the year ended 31 August, as the group’s international division surpassed 50% of total revenues for the first time. Fast Retailing also reported that operating profits reached ¥381bn (£2.1bn), which shows a rise…
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12 October
Arc’teryx to open new Covent Garden flagship
Shaftesbury Capital has announced that Arc’teryx, the Canadian high performance outdoor apparel and accessories brand, will be significantly upsizing to a new 8,000 sq ft flagship store at 42 King Street in Covent Garden. This latest move reaffirms the brand’s commitment to, and success within, the destination, reinforcing Covent Garden’s…
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12 October
Hotel Chocolat revenues fall 10% in FY23
Hotel Chocolat has reported that revenue fell by 10% to £204.5m in the year ended 2 July, due to lower sales online and internationally. UK revenues also dropped by 8% year-on-year, which the group maintains is in line with market expectations. That said, the group did experience an 8% year-on-year…
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12 October
Poundland owner revenues hit €5.6bn in FY23
Pepco Group, owner of Poundland in the UK and Dealz brands in Europe, reported a 17.7% revenue increase to €5.6bn (£4.8bn) during FY23. The revenue increase was a result of strong growth of 24.8% at its Pepco brand and 8.4% at Poundland. Group revenue for the fourth financial quarter ended…
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12 October
UK economy improves slightly in August
The UK economy is estimated to have grown by 0.2% in August 2023, following a fall of 0.6% in July 2023, according to the latest figures from the ONS. Looking at the broader picture, GDP showed 0.3% growth in the three months to August 2023 when compared with the three…
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12 October
Next nears £100m FatFace takeover deal
Next is reportedly nearing a deal to acquire FatFace as part of its latest takeover move, in a deal that is said to be worth more than £100m, according to Sky News. According to Sky, Next is now putting the “finishing touches” on a deal to acquire the clothing brand,…
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