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 -21 July
Retail competition not responsible for high food inflation, CMA finds
A new report from the Competition and Markets Authority (CMA) has found that high food price inflation has not been driven by retail competition. Over the past two months, the CMA has assessed how retail competition is working in the UK grocery sector, particularly between supermarkets such as Asda, Morrisons,…
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21 July
Hot weather boosts June retail sales
June retail sales beat forecasts in June, rising 0.7% compared with predictions of 0.2%, as hot weather helped encourage shoppers. According to the latest data from the Office for National Statistics (ONS), non-food stores sales volumes rose by 1.0% in June 2023, following a fall of 0.5% in May 2023…
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21 July
Marks and Spencer chief slams ‘pathetic’ Marble Arch rejection
The chief executive of Marks and Spencer has slammed the government’s decision to deny the demolition and redevelopment of its flagship store on Oxford Street as “pathetic”. The company planned to demolish the existing three buildings and construct a larger 2 basement and nine-storey mixed-use development containing a retail store,…
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21 July
THG offloads OnDemand division
THG has recently sold its OnDemand division to a Newco led by the existing OnDemand management team and funded by Gordon Brothers, the advisory and investment firm. The Newco will continue to be a client of Ingenuity, with the provision of technology, operational and digital services. The news follows the…
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21 July
Consumer confidence falls in July
Consumer confidence index dropped six points in July to -30 as “reality bites” resilient consumers amid rising inflation and interest rates, according to GfK’s long-running survey. The survey revealed that all five measures were down in comparison to last month’s announcement. The index measuring changes in personal finances during the…
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21 July
Wilko owners explore potential sale
The owners of Wilko are reportedly exploring a potential sale of the chain in a bid to rescue the group’s future, Sky News has reported. Advisors are now said to be seeking out potential buyers, with sources telling Sky that a “large number” of large general merchandise chains have been…
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20 July
Company Shop Group bolsters senior team
Company Shop Group, the UK’s leading redistributor of surplus stock, has recently bolstered its senior team with the appointment of Adam King, previously community director at Samworth Brothers, and former Morrisons’ head of finance (retail), Sinead Healey. Joining the group as marketing director, King brings with him over 15 years…
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20 July
Kim Kardashian’s Skims valued at $4bn in latest funding round
Kim Kardashian’s Skims brand has reportedly raised $270m in its latest funding round which values the business at $4bn (£3bn), according to the New York Times. The company, owned by Kardashian and business partner Jens Grede, launched four years ago and was last valued at $3.2bn (£2.7bn). The shapewear retailer…
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20 July
John Lewis Fashion Rental trials new ‘Try It On’ service
John Lewis Fashion Rental has launched a new ‘Try It On’ service, a first for a UK rental site, in partnership with Zyler. The service allows customers to virtually ‘Try On’ their chosen outfits before committing to their rental purchase. The customer simply has to upload their headshot, and inputs…
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20 July
FT Future of Retail: Delivering a more sustainable & seamless retail experience
The FT Future of Retail summit will return in 2023 with uniquely crafted panels, lightning talks and high-level keynote speakers to address the big challenges facing the retail sector. Taking place across one day and in a hybrid format, the event will gather some of the biggest names in the…
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