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 -6 October
Frasers ups stake in Boohoo to 13.4%
Mike Ashley’s Frasers Group has upped its stake in Boohoo to 13.4% as it continues investing in a number of UK fashion retailers. Frasers has upped its stake of 10% which it held at the start of the week. This means it now holds 170,426,000 voting rights in the company.…
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6 October
The Body Shop bidders hesitate over £500m valuation
Private equity firms interested in acquiring The Body Shop are reportedly being put off by owner Natura and Co’s high valuation. According to Retail Week, the Brazilian company is asking for between £400-£500m to part with the health and beauty retailer. Earlier this week it was reported that Lloyds Pharmacy…
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6 October
Pandora raises revenue guidance amid strong store sales
Pandora has upped its revenue guidance for the year to between DKK 34-36bn (£4.2-4.5bn) after seeing a spike in store sales. As part of its Phoenix strategy, Pandora plans to scale up its investments to accelerate revenue growth, brand desirability and store network. This will include building its position as…
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6 October
Sainsbury’s is priciest supermarket for a big shop, says Which?
Sainsbury’s is the priciest supermarket for a big shop if you don’t use a loyalty card, according to claims by Which? in its most recent analysis. The grocer overtook Waitrose for the first time in the monthly analysis, which has been running for years, becoming the most expensive supermarket to…
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6 October
CMA to probe Amazon and Microsoft cloud market dominance
Ofcom has referred the public cloud infrastructure services market to the Competition and Markets Authority (CMA) for further investigation following its own probe into UK cloud services. It comes as an Ofcom study identified features that supposedly make it more difficult for UK businesses to switch and use multiple cloud…
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6 October
Frasers Group submits plans for new Warwickshire HQ
Frasers Group has submitted a planning application for a new global HQ campus in Rugby, Warwickshire. If approved, the headquarters is projected to create 7,500 jobs and create £300m in GVA for the region. Architects firm Grimshaw, which designed the Eden Project, London’s Excel Phase II and the Lloyds Banking…
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5 October
Today’s news in brief-05/10/23
Asda, post its separation from Walmart, has entered a multi-year partnership with Tata Consultancy Services (TCS) to revamp its IT operations. TCS will implement cloud-based ERP platforms to streamline various processes including supply chain forecasting, buying, and merchandising. This move aims to enhance customer experience, innovation capabilities, and maintain market…
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5 October
Talking Shop Episode 7 – Rosie Myers, Founder of nope.
In this episode of Talking Shop we’re joined by Rosie Myers, the founder of nope., a sustainable shampoo and conditioner bar company. We spoke to Rosie about the importance of connecting with your customers, her long-standing passion for retail, and her own personal journey that inspired the birth of the company.…
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5 October
Borough Yards welcomes three new tenants
Borough Yards, the new retail, leisure, office and dining district in Borough, has announced the arrival of three new tenants. Ted Baker-owned barbers Ted’s Grooming Room and skin specialists re:lax will arrive this autumn to bolster its beauty offer, while the London debut of West African-inspired restaurant Akara becomes the latest restaurant to open. …
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5 October
Dobbies officially opens largest store in Antrim
Dobbies has officially opened its largest ever store at The Junction Retail and Leisure Park in Antrim. The 110,000 sq ft flagship store is the retailer’s second venture in Northern Ireland and has created 120 new jobs, making it one of the largest employers within the Antrim and Newtownabbey borough.…
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