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 -26 July
LVMH revenues up 15% for H1 2023
LVMH, the owner of Moët Hennessy Louis Vuitton, has posted revenues of €42.2bn (£36.2bn) for the first half of 2023, up 15%. The company’s overall organic revenue growth was up 17% compared with the same period in 2022. All of its business groups achieved double-digit organic revenue growth over the…
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26 July
H&M sues Shein over copyright infringement
H&M is reportedly suing fast-fashion company Shein for copyright infringement in Hong Kong, according to Bloomberg News. Reports said that H&M first accused Shein of copying dozens of its designs back in 2021. Shein Group Ltd and Zoetop Business Co, a Hong Kong-based entity that previously owned Shein, are among…
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26 July
Aldi slashes prices of fruit and vegetable products
Aldi has announced price cuts on fruit and vegetable products in order to help customers during the cost of living crisis. Ten products are included in the price drop, from avocados, red peppers and easy peelers to potatoes and sweetcorn. The move is the latest of hundreds of prices that…
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26 July
Boohoo ups stake in Revolution Beauty amid falling shares
Boohoo has increased its holdings in Revolution Beauty from 26.4% to 27.1%, as shares in the online makeup retailer continue to fall. As of Monday (24 July), the share price in the cosmetics giant dropped by more than 7.5%. The group increasing its holdings comes after both companies have been…
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25 July
Greggs opens new Gatwick Airport site
Greggs has yesterday (24 july) opened a new shop in Gatwick Airport’s South Terminal, marking the first airport site in London, and eighth airport location in the UK. This is a major milestone in Greggs’ growth strategy, as the group looks to expand beyond the high street to key transport…
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25 July
Poundland brings back £1 price point amid lessening inflation
Poundland has today (25 July) reduced the price of big brand “family favourite” products, many of which went back to a £1 price point, following last week’s inflation data showing price rises are moderating from 8.7% in May to 7.9%. The retailer’s price reduction, which has been dubbed ‘Operation Sell…
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25 July
Under Armour opens new Brand House on Oxford Street
Under Armour has opened its latest Brand House in London on Oxford Street. The Oxford Street location, which opened on 20 July, is the latest in a series of Brand House openings following Westfield Stratford, Battersea Power Station, and Liverpool. Under Armour reported this is its strategy to grow its…
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25 July
Superdry to close eight UK stores
Fashion retailer Superdry has confirmed that it is closing eight of its franchise stores in the UK, according to Drapers. The business has already shut down sites in Stoke On Trent, Ipswich, Luton, Telford, Lincoln and Bury St Edmunds. All eight stores are operated by franchise partner Aldrich Group, which…
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25 July
Amazon closes its first checkoutless store after two years
Amazon’s first Amazon Fresh store in the UK has closed, having opened just over two years ago. The till-less store opened in Ealing Broadway in March 2021 and was the retailer’s first store of its kind to open outside of the US. The store was permanently shuttered on Sunday (23…
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25 July
Wickes Q2 LFL sales up 3%
Wickes Group has announced that its like-for-like sales for the 13 weeks to 1 July were up 3%. Alongside this the company’s like-for-like sales for the first half of the year were up 0.7% despite the fact that Q1 like-for-like sales were down 1.8%. The company’s core LFL sales were…
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