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.
-
Oct- 2023 -5 October
Dobbies officially opens largest store in Antrim
Dobbies has officially opened its largest ever store at The Junction Retail and Leisure Park in Antrim. The 110,000 sq ft flagship store is the retailer’s second venture in Northern Ireland and has created 120 new jobs, making it one of the largest employers within the Antrim and Newtownabbey borough.…
Read More » -
5 October
Victoria Plumbing revenues rise 6% in FY23
Victoria Plumbing revenues have increased by 6% in the year ended 30 September, largely due to an increase in order volumes. The group noted that average order values have also remained in line with the previous year, with a continuation of the positive trends experienced in H1, including favourable market…
Read More » -
5 October
Asda signs TCS deal to overhaul IT operating model
Asda has signed a multi-year partnership with Tata Consultancy Services (TCS) to support its digital transformation and implement a new organisation-wide IT operating model. The move follows its separation from former owner Walmart, with TCS noting its cloud, AI, and security solutions will now help ASDA deliver the divestiture “smoothly,…
Read More » -
5 October
Oxford Street American candy store numbers drop amid council crackdown
The number of American candy stores on Oxford Street has dropped from 29 to 21 following a crackdown by Westminster City Council, according to a new Westminster’s overview and scrutiny committee report. Earlier this year, Westminster City Council further campaigned against US-style candy and souvenir stores by appealing directly to…
Read More » -
5 October
Hoka opens news London flagship store in Covent Garden
Hoka, a division of Deckers Brands, has announced the launch of its first ever retail location in Europe at Shaftesbury Capital’s Covent Garden, located at 2-3 James Street. The 1,750 sq. ft flagship store showcases the full line of footwear, apparel, and accessories under one roof for the first time.…
Read More » -
5 October
ON aims to double net sales in three years
Swiss running retailer ON has announced its target to double its net sales 2026 to at least £3.19bn. The company also expects to exceed 60% gross profit margin by 2026 and reach an apparel share of 10% or more. Furthermore, ON wants to reach an adjusted EBITDA margin of +18%…
Read More » -
4 October
Today’s news in brief-04/10/23
Aurelius Group, the parent company of Lloyds Pharmacy, has reportedly emerged as a contender in the race to acquire The Body Shop. This places Aurelius Group alongside Elliot Advisors, owner of Waterstones, and private equity firm Epiris as potential buyers. The move comes following The Body Shop’s decision to put…
Read More » -
4 October
JD opens flagship store at Ashley Centre
CBRE Investment Management has announced the opening of JD’s 4,453 sq ft regional flagship at the Ashley Centre, Epsom. Located in a prime space on the ground level near the central square, the sportswear giant builds upon the retail and fashion line-up within the Ashley Centre and provides exclusive products…
Read More » -
4 October
Borough Yards bolsters beauty offering with two new arrivals
The retail and leisure district in London, Borough Yards, has announced the arrival of Ted Baker-owned barbers Ted’s Grooming room and skin specialists Re:lax this autumn to bolster its beauty offering. The news follows the signing of 12 additional brands over the summer, including Ace and Tate, Amorino, Bancone, Lids…
Read More » -
4 October
Tesco raises forecast amid strong H1
Tesco has reported adjusted operating profits of £1.3bn in the UK, an increase of 17.2%, as like-for-like sales across the group increased 7.8% and inflation fell across H1. As a result, it now expects to deliver between £2.6bn and £2.7bn in retail adjusted operating profit for the 2023/24 financial year.…
Read More »
