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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Sep- 2023 -18 September
Lululemon adds Shane Grants to its board
Lululemon Athletica has announced the appointment of Shane Grant to serve on its board of directors, effective 1 November 2023. Grant has been the group deputy CEO, CEO Americas and EVP Dairy, Plant Based and Global Sales at Danone, a leading global food and beverage company, since January of 2023.…
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18 September
Mike Ashley eyes Missguided sale to Shein
Mike Ashley is looking to sell the online clothing label Missguided to the Chinese-founded online fashion platform, Shein, Sky News has reported. It is understood that the two sides have been in negotiations about a deal for several weeks, which would represent Shein’s first acquisition of a British fashion brand.…
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18 September
Over 100,000 retail jobs lost since 2020 after Wilko collapse
The number of retail job losses since 2020 is set to pass 100,000 as a result of the 12,500 jobs at risk after the collapse of Wilko, according to data from the Centre for Retail Research. The latest data shows that there have been more than 17,000 jobs lost at…
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18 September
Boots ditches plans for online marketplace
Boots has reportedly decided to ditch plans for the launch of its online marketplace, according to Retail Week. The health and beauty retailer had previously announced the launch of the marketplace back in spring 2023 as part of its digital transformation post-pandemic and hailed as an opportunity for brands to…
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18 September
Waterstones owner tables Body Shop bid
The owner of Waterstones, Elliott Advisors, has reportedly joined a list of bidders looking to acquire The Body Shop after it was put up for sale by its owner. According to Sky News, the investment firm tabled an indicative bid for the cosmetic chain in recent weeks. However, Sky said…
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18 September
Nordstrom adds three to executive leadership team
Nordstrom has announced three executive leadership appointments to the company’s merchandising and store organisations, effective immediately. Jamie Nordstrom has been appointed as its new chief merchandising officer and Fanya Chandler and Gemma Lionella as its president, Nordstrom stores and Nordstrom Rack respectively. Nordstrom previously served as the company’s chief stores…
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15 September
Ann Summers partners with DSA
Ann Summers has joined the UK trade body for direct-to-consumer retail, the Direct Selling Association (DSA), as it looks to focus on its direct sales channel. Currently, the retailer has joined the DSA as a prospective member, whilst the full membership audit process is carried out. According to the DSA,…
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15 September
French Bedroom appoints new managing director
E-commerce brand French Bedroom has announced the promotion of Holly Yates to managing director as the company celebrates 17 years of creating French style furniture. Yates joined French Bedroom in June 2020 as head of brand in a role that saw her accountable for managing the business’ marketing channels. She…
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15 September
Mytheresa sales rise by 11% to €768.6m in FY23
German luxury fashion retailer Mytheresa has reported a net sales year-on-year increase of 11.4% to €768.6m (£659m) for the period ended in June 2023. During the full year, the company saw a Gross Merchandise Value (GMV) growth of 14.5% to €855.8m (£733.7m), compared to €747.3m (£640.7m) in 2022. Adjusted EBITDA…
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15 September
H&M net sales edge up 6% in Q3
H&M has revealed that its net sales rose 6% to SEK 60bn (£4.3bn) for the three months ended 31 August 2023. Alongside this the company stated that its net sales were up 8% when excluding Russia, Belarus and Ukraine. However, in local currencies, the company stated that its net sales…
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