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 -30 October
Asos considers sale of Topshop brand
British online fashion retailer Asos is considering the sale of Topshop after buying the brand less than three years ago, Sky News has reported. The online giant is understood to be at the early stages of a process which could see it offload what was once one of the most…
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30 October
Aurelius enters exclusive talks to acquire The Body Shop
Aurelius Group has entered into exclusive talks to acquire The Body Shop from Natura and Co, according to reports from Sky News. Banking sources told Sky that the deal for the brand which Natura put up for sale over the summer was expected to be completed next month. If completed,…
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30 October
Frasers mulls rescue of Wiggle after collapse
Frasers is mulling over rescuing online bike retailer Wiggle after it collapsed into administration earlier last week, Sky News has reported. According to Sky, the retailer, best known for its Sports Direct chain, is one of a few other groups looking to rescue WiggleCRC. WiggleCRC, which includes Wiggle, Chain Reaction…
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30 October
Shein acquires Missguided brand from Frasers
Shein has acquired the Missguided brand from Frasers Group. Following the move, Missguided products and collections will be made available to Shein’s 150 million global users as an independent brand via Shein sites, as well as on Missguided.com. Shein also confirmed that it has entered into an agreement to licence…
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30 October
Cake Box appoints new chairman
Cake Box has announced the appointment of Martin Blair, currently non-executive director, as its new chairman. The appointment of Blair follows a thorough recruitment process carried out by the board over the last few months during which a number of external candidates were interviewed. Blair will succeed Nilesh (Neil) Sachdev…
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27 October
Today’s news in brief-27/10/23
Tesco has appointed Matthew Barnes as the new UK CEO, effective March 2024, succeeding Jason Tarry, who will step down after 33 years with the company. Barnes, with extensive experience at Aldi, previously served as UK&I CEO and co-head of Aldi Sud’s executive board. Under Tarry’s leadership, Tesco underwent a…
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27 October
On to open new store in Spitalfields Market
Swiss sports brand On has announced the opening of its second UK store, located in Spitalfields Market in East London. Following the successful launch of the brand’s flagship store on Regent Street, On continues its retail expansion in the UK, driven by remarkable sales growth. Situated at 37 Brushfield St,…
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27 October
Sainsbury’s Lothian wind farm reaches completion
Sainsbury’s has completed its brand-new wind farm in Scotland, which will add up to 50 megawatts of electrical capacity to the grid in the form of renewable energy that will be used to power the retailer’s stores, offices and depots nationwide. The wind farm, named Longhill Burn, has been under…
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27 October
Hermes sees revenues jump 16% to €3.3bn
Hermes has recorded a 16% increase in revenues to €3.3bn (£2.87bn) in the three months 30 September 2023. All the geographical areas posted solid performances. European sales reached €2.24bn (£1.95 bn) over the same period last year, up 20.7%. With the exception of Japan, sales throughout Asia also increased by…
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27 October
Amazon Q3 net sales rise 13% to $143.1bn
Amazon has revealed that its net sales rose 13% to $143.1bn (£118bn) for the three months ended 30 September 2023, up from $127.1bn (£104.9bn) in the same period in 2022. The company’s net sales were also up 11% excluding the $1.4bn (£1.2bn) favourable impact from year-over-year changes in foreign exchange.…
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