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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Aug- 2023 -31 August
Frasers ups Boohoo stake to 9.1%
Frasers has announced that it has increased its stake in fashion retailer Boohoo to 9.1%. The latest increase takes the Mike Ashley owned company’s stake up from the previous 7.8% it owned. The group had previously stated that Boohoo aligned with its strategy of building “supportive positions in attractive companies”. …
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30 August
Bank holiday boosts footfall by 10.5% on Sunday
Footfall on Sunday (27 August) was +10.5% higher than the week before, rising in all three destination types; by +9% in high streets, by +9.8% in retail parks and by +14.2% in shopping centres thanks to bank holiday Monday. According to the latest data from MRI Springboard, whilst footfall rose…
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30 August
Wilko bidder criticises PwC over bidding process
Restructuring specialist M2 Capital has reportedly criticised the administrators of Wilko after submitting a last-minute offer to rescue the retailer. According to The Financial Times, M2 wrote to PwC chair Bob Moritz earlier this week to criticise the bidding process and question whether it was “fair and transparent” after submitting…
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30 August
M&S to re-enter FTSE 100
M&S is expected to return to the FTSE 100 for the first time in four years following a sustained rise in its shares. It has seen its share price surge by 80% this year and it is now valued at £4.3bn. According to its most recent trading update, its profit-before-tax…
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30 August
The Works revenues up 5.8% in FY23 despite ‘challenging’ backdrop
The Works’ revenues increased by 5.8% to £280.1m for the year ended 30 April 2023, up from £264.6m in FY22, and as such, the retailer said it is well-positioned to capitalise on opportunities from its strategy in the coming year. The value retailer of arts and crafts, stationery, toys, and…
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30 August
Superdry shares suspended amid results delay
Fashion retailer Superdry has had its shares temporarily suspended by the Financial Conduct Authority (FCA) after delaying the publishing of its full-year results. The company stated that its results were not ready and therefore requested that trading of its Ordinary Shares be suspended. Superdry expects that its shares will return…
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29 August
Boots to open at Battersea Power Station
Boots has announced that it will launch a new beauty only store at Battersea Power Station. The 11,200 sq ft beauty playground is set to open later this year at London’s newest shopping destination and will create a new destination for beauty lovers to try out new products, looks and…
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29 August
John Lewis Partnership reduces price of period pants
John Lewis and Waitrose have become the latest retailers to back an industry-wide campaign to reduce the price of period knickers by absorbing the 20% VAT charge for its customers to make period products more affordable. While the tampon tax, which taxed sanitary towels and tampons, was abolished in 2021,…
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29 August
Natura and Co considers Body Shop sale
Natura and Co is considering potentially selling The Body Shop as a result of its poor post-pandemic performance. The company confirmed in an SEC filing that it was exploring “strategic alternatives” for the business. JP Morgan analysts believe that a sale is the most likely outcome, with the business being…
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29 August
Clintons to shut 38 stores as part of restructuring plan
Clintons is reportedly set to close 38 stores in a bid to stave off its collapse for at least 12 months after a restructuring plan was approved by an insolvency court. According to the Evening Standard, the plan allows the retailer to escape full payment of business rates and rent…
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