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 -2 August
Asda to display daily fuel prices online
Asda has today (2 August) become the first UK supermarket to publish local fuel prices online, allowing motorists to check the price of petrol or diesel before they get in their car. This comes as the supermarket chain has confirmed that fuel prices at each filling station will be available…
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2 August
Co-op announces £70m investment to lower product prices
Co-op has announced its biggest ever single investment in pricing of £70m, as it extends its member-only pricing across everyday essentials, launching with a list of nearly 200 fixed lines including milk, eggs and bread. This move will give Co-op members a chance to save up to 11% on retail…
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2 August
Sales growth of 62% is in the bag for colourful backpack firm ROKA London
* Revenue shot up from £3.72 million in 2021 to £6 million in 2022 and it is expected to exceed £9 million in 2023; * ROKA’s stylish and sustainable bags and backpacks have become a fashion item in their own right and it has recently captured the student market; *…
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2 August
VF Corp revenues drop to $2.1bn in Q1 FY24
American apparel and footwear company VF Corp has revealed that its revenues declined 8% to $2.1bn (£1.5bn) for the first quarter ending 1 July 2023, with its big four brands down 11%. It reported that Vans revenues fell 22% to $737.5m (£576m), while Timberland and Dickies revenues decreased by 6%…
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2 August
Dr Martens shares rise after Sparta Capital builds stake
Dr Martens saw its share price boosted at the start of this week (31 July) after it was targeted by activist fund manager Sparta Capital. According to a Sky News report over the weekend, the fund, launched by former Elliott Management exec Frank Tuil, has acquired tens of millions of pounds…
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2 August
Hugo Boss raises guidance amid strong Q2 sales
Hugo Boss has raised its full-year guidance after a 20% increase in group sales to €1.02bn (£880m) during the second quarter of the year ended 30 June 2023. The group now expects its sales to increase between 12% and 15% to €4.1bn (£3.52bn) and €4.2bn (£3.61bn) for the full year.…
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2 August
Scamp and Dude to open stores in Edinburgh and London
The independent fashion brand, Scamp and Dude, has announced its expansion with two new stores in Edinburgh’s St James Quarter and London’s Battersea Power Station, which are due to open this September. This follows a year of “exponential” growth for the brand after the retailer launched its flagship store in…
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2 August
Farfetch appoints new CFO
Farfetch, the leading global platform for the luxury fashion industry, has announced the appointment of Tim Stone as chief financial officer, effective from September. Stone brings vast experience from marketplace and technology platform businesses to his new role. He spent more than 20 years in senior finance roles at Amazon,…
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2 August
Co-op boss hits back at profiteering claims amid rise in shoplifting
Co-op Food boss Matt Wood has “lashed out” at supermarket profiteering claims amid a surge in crime at the group’s stores, The Telegraph has reported. Hood claimed that shoplifters were able to “overrun” retailers without facing consequences, and warned that people were defending their actions after MPs accused supermarkets of…
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1 August
Swarovski launches new concept store at Liverpool One
Grosvenor has announced that Swarovski, the luxury crystal jewellery brand, has opened at Liverpool ONE, in a move that marks the return of a standalone Swarovski store to the city. The 2,000 sq ft space on Peter’s Lane follows the globally renowned brand’s new ‘WonderLUX’ store concept, showcasing an immersive…
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