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 -5 October
Asda signs TCS deal to overhaul IT operating model
Asda has signed a multi-year partnership with Tata Consultancy Services (TCS) to support its digital transformation and implement a new organisation-wide IT operating model. The move follows its separation from former owner Walmart, with TCS noting its cloud, AI, and security solutions will now help ASDA deliver the divestiture “smoothly,…
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5 October
Oxford Street American candy store numbers drop amid council crackdown
The number of American candy stores on Oxford Street has dropped from 29 to 21 following a crackdown by Westminster City Council, according to a new Westminster’s overview and scrutiny committee report. Earlier this year, Westminster City Council further campaigned against US-style candy and souvenir stores by appealing directly to…
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5 October
Hoka opens news London flagship store in Covent Garden
Hoka, a division of Deckers Brands, has announced the launch of its first ever retail location in Europe at Shaftesbury Capital’s Covent Garden, located at 2-3 James Street. The 1,750 sq. ft flagship store showcases the full line of footwear, apparel, and accessories under one roof for the first time.…
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5 October
ON aims to double net sales in three years
Swiss running retailer ON has announced its target to double its net sales 2026 to at least £3.19bn. The company also expects to exceed 60% gross profit margin by 2026 and reach an apparel share of 10% or more. Furthermore, ON wants to reach an adjusted EBITDA margin of +18%…
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4 October
Today’s news in brief-04/10/23
Aurelius Group, the parent company of Lloyds Pharmacy, has reportedly emerged as a contender in the race to acquire The Body Shop. This places Aurelius Group alongside Elliot Advisors, owner of Waterstones, and private equity firm Epiris as potential buyers. The move comes following The Body Shop’s decision to put…
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4 October
JD opens flagship store at Ashley Centre
CBRE Investment Management has announced the opening of JD’s 4,453 sq ft regional flagship at the Ashley Centre, Epsom. Located in a prime space on the ground level near the central square, the sportswear giant builds upon the retail and fashion line-up within the Ashley Centre and provides exclusive products…
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4 October
Borough Yards bolsters beauty offering with two new arrivals
The retail and leisure district in London, Borough Yards, has announced the arrival of Ted Baker-owned barbers Ted’s Grooming room and skin specialists Re:lax this autumn to bolster its beauty offering. The news follows the signing of 12 additional brands over the summer, including Ace and Tate, Amorino, Bancone, Lids…
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4 October
Tesco raises forecast amid strong H1
Tesco has reported adjusted operating profits of £1.3bn in the UK, an increase of 17.2%, as like-for-like sales across the group increased 7.8% and inflation fell across H1. As a result, it now expects to deliver between £2.6bn and £2.7bn in retail adjusted operating profit for the 2023/24 financial year.…
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4 October
Wilko store deals at risk as new owners renegotiate leases
The proposed rescue deals for over 100 Wilko stores could reportedly be at risk as the new owners try to negotiate better terms with landlords, according to The Times. The outlet revealed that B&M, which agreed a deal for over 50 Wilko stores, is thought to have delayed completing some…
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4 October
Lloyds Pharmacy owner joins bidders for The Body Shop
The owner of Lloyds Pharmacy, Aurelius Group, is among the latest bidders to buy cosmetics chain The Body Shop, according to Sky News. The group now joins Waterstones owner Elliot Advisors and private equity firm Epiris in the running to buy the chain. It is unclear whether Alteri Investors remains…
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