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 -7 July
ProCook appoints new CEO
ProCook Group plc, the UK’s direct-to-consumer specialist kitchenware brand, has announced the appointment of Lee Tappenden as the group’s CEO. The news comes after Daniel O’Neill’s indication earlier this year of his intention to step back from the CEO role, as set out in the group’s preliminary results announcement on…
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7 July
JD Sports to acquire remaining shares of ISRG for €500m
JD Sports has announced its intention to acquire the remaining 49.98% shares in Iberian Sports Retail Group (ISRG) that are currently held by Balaiko Firaja Invest and Sonae Holdings for a total of €500.1m (£427.1m). The acquisition will be funded from the group’s existing available cash resources, and upon completion,…
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6 July
Selfridges to launch Swap Shop this month
Selfridges has recently announced it will launch a Swap Shop by LOANHOOD, from 10th to 30th of July, in its flagship London store. For the first time, Selfridges’ customers can bring in their preowned pieces to exchange for stamps to ‘shop’ a curation of secondhand pieces to take home, offering…
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6 July
Dune London partners with Reskinned on take-back scheme
Dune London has announced a partnership with clothing repair and resale company Reskinned on the launch of a take-back programme. The scheme, which was launched yesterday (5 July), allows customers to return pre-loved Dune London shoes in any condition and receive a voucher for up to £40 off their next…
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6 July
Clarks names Under Armour’s Bob Neville as new UK & ROI MD
Clarks, the British shoe brand, has appointed Bob Neville as its new managing director for the United Kingdom and Republic of Ireland, effective from August 2023. Neville returns to the UK from Hong Kong, where he has been based for 30 years, leading teams with some of the world’s largest…
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6 July
Nestware Holdings acquires UK Flooring Direct
Keswick Flooring, a subsidiary of Nestware Holdings, has announced the acquisition of UK Flooring Direct (UKFD) for an undisclosed sum. Teneo Financial Advisory acted as the lead advisor on the sale of UKFD to Keswick Flooring. Founded in 2005, UKFD is one of the UK’s leading online retailers of real…
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6 July
THG CEO to sell firm’s Manchester HQ
THG CEO Matt Moulding is set to sell the group’s £250m headquarters in Manchester, Drapers has reported. The site was bought by Moulding in 2019 through his private company Moulding Capital and comprises five industrial units and an office. According to a Warrington Council cabinet report, a company named SLBI…
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6 July
Asda owner to face committee over inflated fuel prices
The Commons business and trade committee has reportedly informed Asda owner Mohsin Issa about “apparent discrepancies” in the price of petrol fuel pricing at the supermarket chain and has asked the businessman to appear on 19 July, according to The Telegraph. The chairman of the committee, Darren Jones, said that…
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6 July
TikTok opens pop-up shop on Oxford Street
TikTok Shop UK is opening its first pop up on Oxford Street in London, to show the brands and creators selling on the platform in a real world context. The pop up is not open to the public, but will be open to existing and prospective merchants and creators to…
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6 July
Currys axes dividend as full-year profits slump
Currys has scrapped its dividend after revealing both profits and sales fell in its full-year results, with the group hit by “depressed demand, high inflation and unforgiving competition”. In the full-year ended 29 April, adjusted profit before tax plunged 38% to £119m, down from £192m the prior year, in part…
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