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 -1 August
Cotton Traders reveals year-long partnership with Alex Jones
British heritage fashion brand, Cotton Traders, has announced its new year-long partnership with broadcaster Alex Jones, its latest female celebrity ambassador this year. The campaign featuring Jones will launch on 3 September and will see her showcase her favourite pieces from the retailer through the seasons, whilst revealing her own…
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1 August
Skechers reports record revenues in Q2
Footwear retailer Skechers has reported record quarterly sales of $2.01bn (£1.56bn), a YOY increase of 7.7%. For the 12 weeks ended 30 June, it saw sales increase 17.9% internationally and a 4.6% decrease domestically. Direct-to-consumer increased 29.1% and Wholesale decreased 5.9%. On a constant currency basis, sales increased 9.1%. Wholesale…
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1 August
L Catterton eyes $8bn Birkenstock IPO
Private equity owner L Catterton is reportedly considering launching an initial public offering of German sandal retailer Birkenstock as soon as September, according to Financial Times. People familiar with the matter told the FT that L Catterton, who acquired a majority stake in Birkenstock in 2021, wants to value Birkenstock…
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1 August
Falling inflation may be halted as Russia pulls out of grain deal, BRC warns
The British Retail Consortium (BRC) has warned that falling inflation is likely to slow after Russia withdrew from the Black Sea Grain Initiative despite seeing annual shop price inflation drop to 7.6% in July. This figure is down from 8.4% in June and represents the lowest inflation figure in 2023…
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1 August
Greggs profits jump 14.2% to £63.7m in H1
Bakery retailer Greggs has revealed that its underlying profit before tax excluding exceptional items increased 14.2% to £63.7m in the 26 weeks ended 1 July. This comes as the group’s total first-half sales increased 21.5%, with company-managed shops experiencing a like-for-like increase of 16%. Meanwhile, an underlying earnings growth of…
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1 August
JD Sports escapes fine over Leicester City merch deal
JD Sports has managed to avoid a fine despite having broken competition law with Leicester City FC, the Competition and Markets Authority (CMA) stated yesterday. In an official announcement, the CMA announced that a £880,000 fine has been imposed on Leicester City FC Limited, King Power International Co. Limited and…
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1 August
Travis Perkins profits plummet 31% in H1
Travis Perkins has seen its operating profit plummet 31% to £112m in the first half of the year, reflecting weak domestic and new build housing markets over the period. Amid challenging market conditions, revenues also dipped by 2.5% to £2.47bn. In light of a lower trading profit, the phasing of…
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Jul- 2023 -31 July
Aldi to remove use by dates on milk
Aldi has announced it is removing use by dates from its fresh milk to help reduce food waste. Britain’s fourth-largest supermarket will instead begin using ‘Best Before’ dates on milk bottles, except for filtered milk, across its stores in England and Wales to prevent milk from being thrown away unnecessarily.…
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31 July
Superdrug to open tenth Irish store in Dublin
Superdrug will be opening its tenth store in Ireland this Thursday 3 August in Dundrum Town Centre. The new 3,760 sq ft store, which will offer customers health and beauty products, everyday toiletries, beauty treatments and luxury fragrances, will also bring 40 new job opportunities to the area. In addition,…
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31 July
Kering appoints Armelle Poulou as CFO
Kering has announced the appointment of Armelle Poulou as its new chief financial officer, effective September 1, 2023. Poulou joined the Group in 2019 and is currently director of Corporate Finance, Treasury and Insurance. She is a graduate of HEC Business School in 1993, and has successively held a range…
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