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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Jun- 2023 -14 June
Next in talks over £500m Reiss sale
Next is reportedly in talks over a potential sale of fashion chain Reiss, which it currently controls with a 51% stake, in a deal that could value it at over £500m. According to Sky News, Next, alongside fellow Reiss shareholder Warburg Pincus, have entered talks with bankers regarding an auction…
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14 June
Marks Electrical posts record revenues of £97.8m
Marks Electrical has posted record revenues of £97.8m for the year ended 31 March 2023, compared with £80.5m in FY22. The retailer posted an EBITDA of £7.5m which was up slightly from £7.2m compared with last year. The company also posted a statutory profit before tax of £6.4m, nearly double…
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13 June
Aldi sees frozen fish and seafood volume market share soar
Aldi has increased its volume market share of frozen fish and seafood from 12.0% to 14.3% in the 12-week period ending 14 May 2023, according to the latest figures from Kantar. It now sells more frozen fish than any other retailer in the UK aside from Tesco, overtaking frozen food…
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13 June
Trust in supermarkets falls to nine-year low, Which? finds
Trust in the food industry has dropped to a nine-year low, Which? research finds, as two-thirds of consumers say they feel supermarkets are ripping people off in expensive convenience stores that fail to stock budget range foods. Which?’s monthly consumer insight tracker found that trust in the groceries industry dropped…
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13 June
Secret Sales appoints new CTO to accelerate marketplace platform
Secret Sales, the non-full price marketplace for fashion, sportswear and beauty brands, has appointed Leon Shepherd as its new chief technology officer. The appointment comes as the business prepares to “invest heavily” in its technology offerings in line with its aggressive global growth agenda. Shepherd has previously worked for brands…
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13 June
Lloyds pharmacy shuts all 237 Sainsbury branches
LloydsPharmacy has confirmed that all its stores located in Sainsbury’s stores will cease to exist from today (13 June 2023). The closures, which were previously agreed, were supposed to be phased out over the year, however, the date has been brought forward and branches are closing sooner than expected. The…
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13 June
Sweaty Betty appoints new global brand president
Wolverine Worldwide has announced the appointment of Melissa Mullen as the new global brand president for its Sweaty Betty brand. Mullen most recently served as vice president and general manager of UK and Ireland for Jo Malone London, a lifestyle brand owned by the Estée Lauder Companies. At Jo Malone…
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13 June
Borough Yards welcomes 12 new brands
South London’s Borough Yards, a 140,000 sq ft regeneration project, has welcomed 12 additional brands that will see the mixed-use district expand its beauty, food, fashion and homeware operators. The new tenants include Ace and Tate, After School Cookie Club, Amorino, Atis, Bancone, Hagen, Kitchen Provisions, Longboys, Lids, Malin and…
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13 June
Farah opens new London store in Soho
Shaftesbury Capital, the leading central London mixed-use REIT, has announced the opening of menswear brand Farah’s new site in Soho, London. The 1,100 sq ft store, split across the basement and ground level, is part of the newly refurbished retail units at the south end of Berwick Street. Originally founded…
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13 June
THG’s Ingenuity partners with PwC to boost digital commerce
THG’s complete commerce division, Ingenuity, has formed a strategic alliance with PwC to help its brands design, build and run immersive customer experiences online. It said the move will help brands across sectors and categories access leading technology throughout the direct-to-consumer (DTC) spectrum. PwC will lead on the business strategy,…
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