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 -19 June
Fanatics acquires Fexpro to expand business in Latin America
Fanatics, a global digital sports platform and provider of licensed sports merchandise, has completed its acquisition of Fexpro, a leading wholesaler of licensed sports and branded apparel serving Latin America. Headquartered in Panama with a presence across Latin America, Fexpro is a preferred licensee for several major US sports leagues…
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19 June
MusicMagpie earnings in line with expectations in H1
MusicMagpie has revealed that first half EBITDA increased 7.7%, a figure that is in line with board expectations, for the unaudited period ended 31 May. The news comes after a “challenging” start to the year, with postal strikes and low consumer confidence impacting December and January sales. However, the group’s…
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16 June
CMA clears Amazon’s acquisition of iRobot
The CMA has cleared Amazon’s $1.7bn (£1.3bn) purchase of iRobot, as the authority considered areas of potential concern, after the online giant announced its proposed acquisition of the Roomba maker in August 2022. The CMA was concerned whether Amazon could enter to compete as a supplier of robot vacuum cleaners…
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16 June
EE opens new visionary store in Westfield London
EE has unveiled the future face of retail at its visionary new flagship store, The EE Studio, located in Westfield London, White City. Designed to empower customers with the best connectivity and technology solutions for their whole connected life, the 4,230 sq ft showcase will also serve as a hub…
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16 June
Frasers ups stake in Asos to over 10%
Mike Ashley’s Frasers has increased its stake in online fashion retailer asos for the third time in two weeks. Frasers has increased its holding to 10.6%, fueling further speculation of a possible takeover offer after beginning last week with a 7.4% stake. Frasers is currently Asos’ fourth largest shareholder having…
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16 June
Kingfisher joins EDRA/GHIN task force to lower Scope 3 emissions
Kingfisher has teamed up with other home improvement companies in an effort to aid the industry in lowering its Scope 3 greenhouse gas emissions. The news comes after EDRA/GHIN, the global trade bodies for home improvement retailers, launched a new collaborative taskforce to reduce the sector’s emissions that come from…
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16 June
Tesco sales up 9% amid signs of easing inflation
Tesco has announced that its sales excluding fuel in the UK and Ireland have risen 9% to £13.8bn for the 13 weeks ended 27 May 2023. Overall, the company posted sales of £14.8bn across its stores in the UK, Ireland and Central Europe including Booker, an increase of 8.2%. This…
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16 June
CEO of Frasers Fashion departs group
The CEO of Frasers Fashion, Greg Pateras, has departed the business this week. Before assuming his role at Frasers, Pateras was previously the CEO of ISawItFirst.com, where he is said to have turned around the loss-making business, and oversaw its eventual sale to Frasers Group. Following Frasers’ acquisition of the…
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16 June
Halfords shares dip after BDO delays audit results
Halfords, the UK’s leading retailer of motoring and cycling products, has announced there will be a delay to the publication of its annual report, which was set to be released on 15 June. The retailer has stated that the reason for the delay comes after BDO, the group’s auditor, requested…
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16 June
Currys commences strategic review of Greek arm
Currys has announced that it is commencing a strategic review of its Greek business, Kotsovolos, which could lead to a sale of the operations. This comes as the board is of the opinion that the strength of the Kotsovolos brand, its long-term track record of profitability and market position are…
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