News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Nov- 2023 -1 November
Black Friday spending to halve due to cost-of-living crisis
Overall spending per person over Black Friday is due to fall from £168.18 in 2021 back to the 2020 average of £86.06, according to Wunderman Thompson Commerce’s findings. This comes as the ongoing cost-of-living crisis, rising inflation and debt concerns are expected to limit shoppers’ spend during Black Friday 2023. …
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1 November
Swatch to open store in Liverpool One
Swiss watch brand Swatch is set to open a new store in Liverpool One shopping centre. Joining the destination’s line-up of prestigious brands, Swatch will reside in a 600 sq ft space on Paradise Street. The unit is set to host over 500 different watches on display, showcasing a selection…
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1 November
Rise in shoppers planning to spend more this Xmas, study finds
More UK consumers are planning to increase their Christmas spending this year compared with last year, signalling a competitive festive season for retailers, according to research by Deloitte. Deloitte’s Consumer Tracker report surveyed more than 3,100 UK consumers about their spending intentions in the final three months of 2023 –…
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1 November
Matches reports £33m loss in FY22
Matches, the modern luxury shopping destination, has posted an adjusted EBITDA loss of £33.7m for FY22. For the year ended 31 January, revenues slightly slipped to £380.1m, compared to £386.6m in FY21. However, order demand came at £758.2m, up 12% to £677.1m reported the previous year. Matches has also updated…
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1 November
Asda acquires EG Group’s UK business for £2bn
Asda has completed its acquisition of EG Group’s UK business in a deal valued at £2bn. The move has seen the supermarket acquire EG Group’s UK&I fuel, foodservice, grocery and merchandise business. EG Group said it will continue to operate in the USA, Australia, Germany, France, Italy, the Netherlands, Luxembourg…
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1 November
Next lifts FY profit guidance despite autumn sales drop
Next has raised its full-year profit guidance for the fourth time this year, despite weekly sales falling by 7% in September due to the unusually warm weather. However, the retailer’s recent Q3 results showed that sales bounced back once colder weather came in last month, increasing by 16% and 11%…
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1 November
Asos posts £296.7m loss before tax in FY23
Asos has announced a statutory loss-before-tax of £296.7m for the year ended 3 September 2023 down from a loss before tax of £31.9m in 2022. The performance comes as Asos revealed it anticipates a second year of falling sales, forecasting a decline of 5% to 15% in FY24. The embattled…
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1 November
Secret Sales expands into Ireland
Secret Sales, a marketplace for off-price retail in fashion, sportswear and beauty, has announced its expansion into Ireland. According to Secret Sales, the platform’s new market launch opens the door for brands and retailers to expand their off-price strategy to reach a potential 3.4 million Irish online consumers. The platform…
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Oct- 2023 -31 October
Today’s news in brief-31/10/23
The British Retail Consortium reports a drop in shop price inflation to 5.2% in October, down from 6.2% in September, marking the lowest rate since August 2022. Non-food inflation also declined to 3.4%, the lowest since September 2022. Food inflation decelerated to 8.8%, and fresh food inflation decreased to 8.3%,…
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31 October
Sainsbury’s unveils personalised Nectar prices
Sainsbury’s has launched personalised lower prices for Nectar Card users on its website and in-store under its ‘Your Nectar Prices’ scheme. Until now, Nectar Prices have only been available to digital Nectar users when shopping in Sainsbury’s stores using SmartShop. The launch of Your Nectar Prices on the website means…
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