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
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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20 July
Amazon announces new £450m delivery centre in Stockton-on-Tees
Amazon has announced plans to open a new £450m fulfilment centre in Stockton-on-Tees, County Durham. The 464,000 sq ft fulfilment centre will launch with up to 1,000 employees when it begins handling customer orders in October 2023, growing to 2,000 people. Recruitment has started for roles from engineers to HR…
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20 July
Dunelm ups FY guidance after strong final quarter
Dunelm has seen full-year revenues rise by 6% to £1.64bn, after a period of “robust” growth in its final quarter, where sales hit £381m despite higher cost prices and rising inflation. Following a “continued robust sales performance, strong commercial disciplines and tight operational grip on costs”, the furniture retailer has…
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20 July
Asda cuts prices on more than 200 products
Asda has announced price cuts on more than 200 own-label products as part of its ongoing support to help families during the cost-of-living crisis. The 226 products, which have been reduced in price by an average of 9%, include a host of fresh fruit and vegetables, frozen meat and fish…
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19 July
Red Run to open flagship store at Liverpool One
Women’s active streetwear brand, Red Run, is set to open its flagship store at Liverpool One this autumn. Trading from 1,400 sq ft, the shop will stock the brand’s range of active streetwear for women, including exclusive collections and limited edition pieces. The new flagship store marks an important stage…
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