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 -12 October
Today’s news in brief-12/10/23
Next is reportedly in the final stages of acquiring clothing brand FatFace in a deal worth over £100 million. This move follows Next’s recent acquisitions, including a majority stake in Reiss, the brand name and assets of Cath Kidston, and the acquisition of Made.com. The group also has investments in…
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12 October
Uniqlo owner revenues rise 20.2% in FY23
Uniqlo’s parent company, Fast Retailing, has revealed a 20.2% rise in year-on-year revenues to ¥2.7tn (£15bn) for the year ended 31 August, as the group’s international division surpassed 50% of total revenues for the first time. Fast Retailing also reported that operating profits reached ¥381bn (£2.1bn), which shows a rise…
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12 October
Arc’teryx to open new Covent Garden flagship
Shaftesbury Capital has announced that Arc’teryx, the Canadian high performance outdoor apparel and accessories brand, will be significantly upsizing to a new 8,000 sq ft flagship store at 42 King Street in Covent Garden. This latest move reaffirms the brand’s commitment to, and success within, the destination, reinforcing Covent Garden’s…
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12 October
Hotel Chocolat revenues fall 10% in FY23
Hotel Chocolat has reported that revenue fell by 10% to £204.5m in the year ended 2 July, due to lower sales online and internationally. UK revenues also dropped by 8% year-on-year, which the group maintains is in line with market expectations. That said, the group did experience an 8% year-on-year…
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12 October
Poundland owner revenues hit €5.6bn in FY23
Pepco Group, owner of Poundland in the UK and Dealz brands in Europe, reported a 17.7% revenue increase to €5.6bn (£4.8bn) during FY23. The revenue increase was a result of strong growth of 24.8% at its Pepco brand and 8.4% at Poundland. Group revenue for the fourth financial quarter ended…
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12 October
UK economy improves slightly in August
The UK economy is estimated to have grown by 0.2% in August 2023, following a fall of 0.6% in July 2023, according to the latest figures from the ONS. Looking at the broader picture, GDP showed 0.3% growth in the three months to August 2023 when compared with the three…
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12 October
Next nears £100m FatFace takeover deal
Next is reportedly nearing a deal to acquire FatFace as part of its latest takeover move, in a deal that is said to be worth more than £100m, according to Sky News. According to Sky, Next is now putting the “finishing touches” on a deal to acquire the clothing brand,…
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12 October
N Brown profit before tax falls 97%
N Brown has announced that its profit before tax fell 97% from £4.3m to £0.1m for the 26 weeks ended 2 September 2023. Furthermore, the group’s revenue contracted 10.4% to £297m for H1 24 compared with £331.5m in the same period last year. The company put this fall down to…
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12 October
Marks Electrical revenues up 24.8% to £53.9m
Marks Electrical has reported a 24.8% increase in revenues to £53.9m during the first half of the year. The group saw robust performance across product categories with particularly high growth in televisions (+71%), washer-dryers (+74%) and American fridge-freezers (+36%). It also reported rapid growth in its premium next-day service offerings…
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11 October
Today’s news in brief-11/10/23
Travis Perkins has revised down its full-year earnings forecast due to challenging market conditions and a significant slowdown in new build housing and domestic renovations and maintenance (RMI) activity in Q3. Group revenues fell by 1.8% in the quarter, with like-for-like sales also down by 1.8%. Pricing declined by 3.1%,…
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