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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May- 2023 -19 May
Lucy & Yak to open four new stores
Lucy and Yak is reportedly set to expand its high street presence through the opening of four new stores this year, according to Drapers. The brand, best known for its overalls and jumpsuits, currently has five stores in Brighton, Norwich, Bristol, Nottingham and Cambridge. It is now looking to further…
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19 May
Farfetch falls to £140m loss in Q1
Luxury fashion platform Farfetch revealed a loss after tax of $174m (£140m) for the first quarter ended 31 March 2023, despite its revenue increasing by 8% year-over-year to $556.4m (£448.4m) in the same period. While the group’s digital platform gross merchandise value (GMV) decreased by 1% year-over-year to $799m (£643m),…
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18 May
Nike opens new Unite concept store at Blanchardstown Centre
Nike has announced it has opened a new concept store Nike Unite at Blanchardstown Centre, Dublin. The first store of its kind in Ireland, Nike Unite features an in-store community wall, celebrating Dublin athletes and sporting achievement, as well as local landmarks and partnerships. Signed on a 10-year lease, the…
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18 May
John Lewis appoints The Floor Room to deliver fitted flooring offer
John Lewis has announced a new partnership with The Floor Room to create a new fitted flooring offer across the retailer’s department stores and online. Under the agreement, the flooring specialist will take over responsibility for all of John Lewis’ fitted flooring, from customer consultation to installation. Through the partnership,…
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18 May
Shoezone to open Bury town centre store this May
Shoezone will launch a brand new, relocated store in Bury on 20 May, officially opening at The Rock, Unit E. 05. The new store, which will be open from 9am until 7pm Monday and Saturday and 10:30am until 4:30pm on Sundays, will offer opening offers, as the brand will also…
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18 May
Topps Tiles lines up Paul Forman as chair designate
Topps Tiles has announced the appointment of Paul Forman as an independent non-executive director and chair designate of the company. The news comes as its current chair, Darren Shapland, is now in his ninth year and, therefore, nearing the end of his maximum term under the UK Corporate Governance Code.…
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18 May
Pepco continues international expansion
Pepco has announced that it is set to launch in Portugal following its successful launch in Spain. The Poundland owner is set to open a new store in Coimbra on 18 May followed by new openings in Albufeira and Olhão during May 2023. The brand will also set up stores…
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18 May
The Works reports sales up 6.1% to £316.6m
The Works has reported that its total sales increased 6.1% to £316.6m in FY23 compared with £298.4m in FY22, against a challenging backdrop, according to its recent trading update for the 52 weeks ended 30 April 2023. Stores, which represented 88.8% of total sales, delivered a like-for-like sales increase of…
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18 May
Burberry revenues hit £3bn in FY23
British luxury fashion brand Burberry has reported a 10% revenue increase to £3bn in its preliminary results for the 52 weeks ended in April. Like-for-like sales in store increased 7% for the year, with growth accelerating to 16% in Q4 as sales in Mainland China recovered after the easing of…
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18 May
Ebay to acquire AI fashion authenticator Certilogo
Ebay has signed a definitive agreement to acquire Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication. Certilogo’s platform uses digital technology to allow brands and designers to manage the lifecycle of their garments, while providing consumers a way to confirm authenticity, access reliable information about…
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