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 -4 October
Superdry agrees to sell South Asian IP for £40m
Superdry has announced that it has agreed a deal to sell its South Asian IP to Reliance Brands Holding UK (RBUK) for £40m. RBUK will now majority own the Superdry brand and related trademarks in India, Sri Lanka, and Bangladesh. The deal is a joint venture between the two companies…
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4 October
Fenwick unveils £40m renovation plan for Newcastle flagship store
Fenwick has reportedly revealed plans for a £40m investment to renovate the facade of its Newcastle flagship store, according to ITV News. The group has submitted a planning application to Newcastle City Council, and includes opening up the ground floor windows, building a modern new canopy and welcoming shoppers through…
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4 October
Topps Tiles welcomes record turnover for third consecutive year
Topps Tiles has seen revenues hit £263m in FY23, marking the third consecutive year of record turnover for the group, with sales now £40m above FY19 levels. Sales rose by 6.4% against the prior year after a “significant outperformance” in the UK tiling market, as the group said it is…
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3 October
Today’s news in brief-3/10/23
Next announced the retirement of its CFO, Amanda James, after 28 years of service. This transition is aligned with James’ long-standing plans and is set for September 26 2024, following the release of interim results. Jonathan Blanchard of Reiss is slated to succeed her, bringing over three decades of financial…
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3 October
Wrangler launches collaboration with Barbie
Global denim brand Wrangler has recently announced its collaboration with Mattel, Barbie, the fashion doll brand inspiring a cultural phenomenon. The Wrangler x Barbie collection celebrates two brands with similar heritage, united in the desire to encourage women and girls to be strong, confident, free and fearlessly chase their dreams.…
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3 October
Sustainable retail could boost local economies by £100m, Landsec finds
Brands in a sustainable retail destination could see revenues increase by up to 13% over the next 10 years, leading to a potential boost of up to £100m for local economies, Landsec research has found. According to the research, this would come from overall footfall for such destinations could see…
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3 October
John Lewis’ next chairman could be part-time
John Lewis’ next chairman could reportedly be offered a part-time role following suggestions from Dame Sharon White in order to help attract high-level talent as her successor, according to The Telegraph. It comes as White is expected to step down from her role in early 2025 after she told the…
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3 October
Next CFO to depart after 28 years
Next has revealed that its CFO, Amanda James, has decided to retire from full-time work after 28 years. The retailer also announced that the CFO of Reiss, Jonathan Blanchard will be her successor. James will be stepping down from the board on 26 July 2024 and is planning to leave…
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3 October
Footfall forecast to drop in run-up to Christmas
Christmas for retailers and the hospitality industry will be challenging due to rising bills that will have started to bite since September, the retail intelligence experts at MRI Software, formerly Springboard, are forecasting. It found that this year, footfall across all UK retail destinations will decline on a month-to-month basis,…
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3 October
Shop price inflation reaches lowest point in a year
Shop price annual inflation dropped to 6.2% in September, down from 6.9% in August, reaching its lowest point since September 2022, according to data from the British Retail Consortium (BRC). The BRC has put this decrease down to competition between retailers causing prices to drop. Non-food inflation eased to 4.4%…
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