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 -29 August
Authentic Brands partners with Baozun for Hunter China
Authentic Brands has announced a joint venture with Baozun for Hunter in Greater China and Southeast Asia. Through this partnership, China-based digital ecommerce group Baozun has acquired a 51% equity interest in Hunter in the region. This follows news that, in May of this year, Baozun was among the businesses…
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29 August
Shop price annual inflation slows to 6.9% in August
Shop price annual inflation decelerated further to 6.9% in August, down from 7.6% in July, the BRC has said. The figure, which is below the 3-month average rate of 7.7%, is at its lowest since October 2022. Non-food inflation remained unchanged at 4.7% in August, which is below the 3-month…
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29 August
Frasers ups Asos stake to 19.3%
Mike Ashley’s Frasers Group has announced that it has once again upped its stake in Asos to 19.3%, up from 18%. The news comes after the group increased its stake to 17% earlier this month. The group also raised its stake in Boohoo Group from 6.8% to 7.8%. Prior to…
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25 August
Puma appoints new general manager of Europe
Sports company Puma has recently appointed Javier Ortega as new general manager of Europe, effective from September 1, 2023. He will be responsible for the areas Central Europe, France, UK & Ireland, Southern Europe and Nordics and report directly to Puma CEO Arne Freundt. Ortega, who has been with the…
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25 August
Sparc Group agrees strategic partnership with Shein
Sparc Group Holdings has announced a strategic partnership with Shein, the global integrated online marketplace for fashion, beauty and lifestyle products. Under the agreement, Shein has acquired an approximately one-third interest in Sparc Group, a joint venture that includes Authentic Brands Group and Simon Property Group, with Sparc becoming a…
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25 August
Quiz non-exec director steps down
Fast fashion brand Quiz has announced that non-executive director Charlotte O’Sullivan intends to step down from the board of directors on 30 November 2023. The decision to step down comes as O’Sullivan relocates overseas. Given this O’Sullivan will not be proposed for re-election as a director at the group’s annual…
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25 August
John Lewis Partnership to recruit over 10,000 roles
The John Lewis Partnership has announced that it is recruiting for more than 10,000 new roles. Of the new roles, 8,400 of them will be seasonal Christmas roles and 1,700 roles will be non-seasonal roles across Waitrose and John Lewis. Waitrose will recruit more than 2,800 seasonal roles across its…
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25 August
HMV owner makes last-ditch bid for Wilko
Canadian businessman Doug Putman has reportedly made a last-ditch attempt to rescue parts of Wilko in a move that could save up to 4,000 jobs, The Times has reported. According to The Times, Putman, who purchased HMV in 2019, has held talks with Wilko’s management team and administrators from PwC…
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25 August
UK consumer confidence improves in August as inflation falls
GfK’s Consumer Confidence Index was up five points to -25 in August, compared with -44 in August 2022. UK consumers’ expectations for the general economic situation over the next 12 months have increased by three points to -30, which is 30 points higher than the same period last year. The…
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24 August
Asda announces £23m investment to lower its prices
Asda has recently announced price cuts on 425 branded and own-label products as part of its continued support for families impacted by the cost of living crisis. The supermarket is investing £23m to lower prices by an average of 11% on some of the most popular products bought by customers…
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