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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Sep- 2023 -18 September
Boots ditches plans for online marketplace
Boots has reportedly decided to ditch plans for the launch of its online marketplace, according to Retail Week. The health and beauty retailer had previously announced the launch of the marketplace back in spring 2023 as part of its digital transformation post-pandemic and hailed as an opportunity for brands to…
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18 September
Waterstones owner tables Body Shop bid
The owner of Waterstones, Elliott Advisors, has reportedly joined a list of bidders looking to acquire The Body Shop after it was put up for sale by its owner. According to Sky News, the investment firm tabled an indicative bid for the cosmetic chain in recent weeks. However, Sky said…
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18 September
Nordstrom adds three to executive leadership team
Nordstrom has announced three executive leadership appointments to the company’s merchandising and store organisations, effective immediately. Jamie Nordstrom has been appointed as its new chief merchandising officer and Fanya Chandler and Gemma Lionella as its president, Nordstrom stores and Nordstrom Rack respectively. Nordstrom previously served as the company’s chief stores…
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15 September
Ann Summers partners with DSA
Ann Summers has joined the UK trade body for direct-to-consumer retail, the Direct Selling Association (DSA), as it looks to focus on its direct sales channel. Currently, the retailer has joined the DSA as a prospective member, whilst the full membership audit process is carried out. According to the DSA,…
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15 September
French Bedroom appoints new managing director
E-commerce brand French Bedroom has announced the promotion of Holly Yates to managing director as the company celebrates 17 years of creating French style furniture. Yates joined French Bedroom in June 2020 as head of brand in a role that saw her accountable for managing the business’ marketing channels. She…
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15 September
Mytheresa sales rise by 11% to €768.6m in FY23
German luxury fashion retailer Mytheresa has reported a net sales year-on-year increase of 11.4% to €768.6m (£659m) for the period ended in June 2023. During the full year, the company saw a Gross Merchandise Value (GMV) growth of 14.5% to €855.8m (£733.7m), compared to €747.3m (£640.7m) in 2022. Adjusted EBITDA…
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15 September
H&M net sales edge up 6% in Q3
H&M has revealed that its net sales rose 6% to SEK 60bn (£4.3bn) for the three months ended 31 August 2023. Alongside this the company stated that its net sales were up 8% when excluding Russia, Belarus and Ukraine. However, in local currencies, the company stated that its net sales…
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15 September
TikTok shop partners with CommerceHub to boost in-app shopping
Tik Tok Shop has partnered with CommerceHub, a provider of software solutions connecting supply, demand, and delivery for retailers and brands globally, to boost its in-app shopping experience. By implementing CommerceHub’s unified commerce platform including ChannelAdvisor, TikTok said it will now have the ability to access tens of thousands of…
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15 September
Pepco Group CEO steps down
Pepco Group has confirmed that Trevor Masters has stepped down as CEO of the company with immediate effect. Andy Bond, chair of the group’s board, will step into the role of executive chair, leading the executive team and overall management of the company until a successor CEO is appointed. Bond…
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15 September
Johnstons of Elgin profits fall 15% in FY22
Scottish luxury cashmere retailer, Johnstons of Elgin, has revealed that its profit before tax dropped by 15.3% to £3.3m in FY22, down from £3.9m in the prior year. This is despite reporting “record” sales, which grew 26% on the previous year from £66.4m to £83.5m. According to the retailer, its…
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