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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Jul- 2023 -27 July
Amazon offers to change Marketplace rules to address CMA concerns
Amazon has offered to change the way it treats third-party sellers using its Marketplace platform in the UK, by submitting proposed commitments to the Competition and Markets Authority (CMA) in response to competition concerns it raised with the technology giant. The CMA said it considers that these commitments – if…
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27 July
Westfield sees 8.2% rental income growth in H1
Unibail-Rodamco-Westfield has reported a net rental income of €1,152m (£987m), an 8.2% like-for-like increase, during H1 2023. Shopping centres accounted for the majority of the rental income with €1,059m (£907m), which represents an 8.5% like-for-like growth. Offices and other net rental income accounted for €41m (£35m), up 17.1% on a…
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27 July
Retail crime soars by 35% to record levels, Co-op warns
Retail crime has soared to “record” levels, with repeat offenders and criminal gangs operating with little consequences, the Co-op Group has warned. The retailer said it has seen crime, shoplifting and anti-social behaviour surge 35% year-on-year, with more than 175,000 incidents recorded in the first six months of this year,…
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27 July
Hotter Shoes CEO and CFO exit following administration
Hotter Shoes chief executive, Ian Watson, and chief financial officer, Gavin Manson, have stepped down following the recent pre-pack administration, Drapers has reported. This announcement follows last week’s news that Hotter Shoes was acquired by lifestyle brand WoolOvers out of administration for £6.7m. Watson has been in charge of the…
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27 July
THG snaps up City A.M.
THG has announced the acquisition of London’s 18-year-old business newspaper, City A.M. The news comes after it was revealed that City AM was on the brink of administration and THG was reportedly in advanced talks with the newspaper to acquire it through a pre-pack administration. Matthew Moulding, THG chief executive…
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27 July
Frasers profits nearly double amid sports retail growth
Frasers group has posted profit before tax of £660.7m for the year ended 30 April 2023, nearly double the £335.6m profit it posted last year. The company stated that this profit increase was mainly driven by a profit growth from its sports retail business from £2.64bn in 2022 to £3.08bn…
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26 July
Caramella pop-up store to debut in Liverpool One
Merseyside fashion brand Caramella is taking over a pop-up shop on Peter’s Lane in the heart of Liverpool One for the first time since the brand launched. Caramella was created in 2017 by Mollie-May Cartwright, and is now a fashion brand with over 280,000 followers on Instagram. Specialising in fashion-forward…
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26 July
Dyaco UK Ltd appoints SVP of Europe
Dyaco UK, a supplier and manufacturer of commercial gym equipment in the UK and Ireland, has announced the appointment of Jon Johnston as its new senior vice president of Europe. The news marks a transition from Johnston’s nine-month consultation role as UK managing director, which will enable him to further…
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26 July
Government delays packaging tax by a year
The Government has revealed that new rules to ensure packaging producers pay for the cost of recycling their packaging will be deferred a year from October 2024 to 2025. The Department for Environment, Food and Rural Affairs said the decision comes amid “extensive engagement with industry”, and in light of…
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26 July
THG in talks to buy City A.M.
Online beauty retailer THG is reportedly in advanced talks with London business newspaper, City A.M. to acquire it through a pre-pack administration, according to Sky News. The news comes after it was revealed that City A.M. is on the brink of administration after failed attempts to find a buyer in…
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