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 -18 July
Hollister and Gilly Hicks open at Liverpool ONE
Hollister Co, the global teen retailer division of Abercrombie & Fitch, has recently opened at Liverpool ONE featuring an updated store design concept. The store opening sits alongside sister brand Gilly Hicks, giving the brand an expanded footprint and first dedicated storefront at Liverpool ONE. Located on South John Street,…
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18 July
Tesco explores freehold acquisitions to combat inflation
Tesco is reportedly looking to acquire the freeholds of more stores in order to minimise its lease liabilities and reduce its exposure to inflation, The Times has reported. According to its annual accounts, the supermarket chain now owns the freehold of 60% of its 4860-stores, an increase from 40% in…
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18 July
Supermarkets see largest drop in grocery price inflation since its peak
Grocery price inflation has seen its steepest decline since inflation peaked in March this year, falling 1.6 percentage points to 14.9% in the four weeks to 9 July 2023, according to the latest data from Kantar. It comes as take-home grocery sales over the same period grew by 10.4% compared…
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18 July
Authentic Brands Group appoints Kevin Wills new CFO
Authentic Brands Group, a global brand development, entertainment and marketing platform, has announced the appointment of Kevin Wills as chief financial officer. Wills has nearly two decades of experience in financial leadership across the fashion, retail and consulting sectors. He most recently served as chief financial officer and member of…
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18 July
Supermarkets willing to back fuel price checker to drive down prices
Energy Secretary, Grant Shapps revealed yesterday (17 July 2023) that supermarkets and retailers have agreed to back a fuel price checker to drive down prices for motorists, according to the Sun. As part of the scheme, Tesco, Asda, Sainsbury’s and Morrisons will share cost data with the public by next…
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18 July
Revolution Beauty CEO and chair step down amid Boohoo settlement deal
Boohoo and Revolution Beauty have brought an end to their ongoing feud with the signing of a settlement agreement that will see major board changes at the beauty retailer. As part of the agreement, CEO Bob Holt OBE and chairman Derek Zissman agreed to resign from Revolution’s board, although Holt…
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18 July
Ocado restates FY23 guidance despite increased losses
Ocado has restated that it has full confidence in its FY23 guidance despite posting losses of £289.5m for the half year ended 28 May 2023. The main reasons for these losses are put down to £192.5m worth of depreciation of assets and amortisation plus £77.2m worth of exceptional items. These…
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17 July
Zalando launches body measurement tool for size recommendations
Leading online fashion platform Zalando has launched a new tool that enables customers to receive size recommendations based on their unique body measurements. By taking two pictures of themselves with their phones in tight clothing, Zalando said it is able to predict the customer’s body measurements, and reportedly marks a…
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17 July
Hotter Shoes owner confirms intention to appoint administrators
Hotter Shoes owner, the Unbound Group, has confirmed its intention to appoint administrators to its main subsidiary after it was unable to raise £2m to support a restructuring plan. In an announcement, the group said it has concluded that it is required to take the “necessary steps” to preserve value…
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17 July
Sidemen opens first physical clothing store in Bluewater
Youtube collective the Sidemen have announced the launch of its first physical clothing store in Bluewater. The 6,000sq ft store is the only place fans can purchase official Sidemen merchandise, other than their website. The new store opened on 15 July at the Greenhithe Bluewater location in the Upper Rose…
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