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 -17 July
Grocery prices soar more than 25.8% in two years, says Which?
The price of groceries at supermarkets has gone up 25.8% since the cost of living crisis began, according to new data by Which? Which? looked at the prices of more than 21,000 food and drink products at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose…
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17 July
Virgin Wines FY trading meets forecast
Virgin Wines has reported that full-year revenues are expected to be £59m, and profits of “no less than £0.5m” for the year ended 30 June 2023, with trading in line with expectations. It comes as the group said it continued to execute its “disciplined strategic approach” to customer acquisition, which…
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17 July
DFS hits FY23 profit guidance amid record market share
Furniture retailer DFS has announced that it has hit its profit guidance of just over £30m for the year ended 25 June 2023. DFS stated that it hit this target despite the market being “significantly worse than expected”. The company’s gross margin rate continued to improve supported by freight costs…
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17 July
Credit insurance lowered for Boohoo suppliers
Leading credit insurer Allianz Trade has lowered cover for Boohoo’s suppliers following the financial pressures faced by the retailer, The Times has reported. The Times said it understood that Allianz Trade has reduced cover by 50% for the suppliers so far, although some have had their coverage cut to zero. …
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14 July
Next partners with stem cell charity Anthony Nolan
UK retailer Next has announced a two-year partnership with stem cell transplant charity Anthony Nolan. The charity will work with Unity at Next, the employee network group for cultural and ethnic diversity, to raise awareness of and diversify the Anthony Nolan stem cell donor register to support its strategic aim…
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14 July
Selfridges unveils new loyalty scheme Unlocked
Selfridges has introduced its new loyalty programme, Selfridges Unlocked, which will see that participating customers ‘unlock’ the best product launches, events, news and free shipping. The loyalty scheme will also give full access with special invites to the retailer’s events, services, and product launches first. It also includes a charity…
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14 July
Sustainable retail concept All Good Things secures £2.5m investment
All Good Things, the independent retailer that exclusively sells pre-loved, fragmented or repaired clothing, has secured a £2.5m equity investment. Funding has been provided by Souter Investments, in conjunction with a broad base of experienced retail industry alumni, including Ben Barnett (former CEO, TFG London), Helen Williamson (former MD, Whistles),…
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14 July
MPs to quiz Asda boss on fuel price competition
Members of Parliament are set to question Mohsin Issa, co-owner of Asda, on comments from one of his lieutenants over the group’s fuel price strategy, according to reports from Reuters. The Common’s Business and Trade Committee have said they are concerned about discrepancies between statements from chief commercial officer Kris…
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14 July
Dr Martens wholesale revenues continue to decline in Q1
Dr Martens has reported that since the start of this financial year, its wholesale revenues have been lower year-on-year across all regions, which the group stated has been in line with expectations. This also included the impact of the strategic decision to reduce EMEA online retailer supplies and cease sales…
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14 July
Zalando, About You and Yoox Net-A-Porter expand climate initiative for second year
About You, Yoox Net-A-Porter and Zalando are expanding their ‘Fashion lead for climate’ initiative for the second year in a row. Launched in 2022, the platform supports fashion brands in measuring their own carbon footprints and setting targets that align with climate science. Brand partners of the three online retailers…
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