News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Jul- 2023 -18 July
Supermarkets willing to back fuel price checker to drive down prices
Energy Secretary, Grant Shapps revealed yesterday (17 July 2023) that supermarkets and retailers have agreed to back a fuel price checker to drive down prices for motorists, according to the Sun. As part of the scheme, Tesco, Asda, Sainsbury’s and Morrisons will share cost data with the public by next…
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18 July
Revolution Beauty CEO and chair step down amid Boohoo settlement deal
Boohoo and Revolution Beauty have brought an end to their ongoing feud with the signing of a settlement agreement that will see major board changes at the beauty retailer. As part of the agreement, CEO Bob Holt OBE and chairman Derek Zissman agreed to resign from Revolution’s board, although Holt…
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18 July
Ocado restates FY23 guidance despite increased losses
Ocado has restated that it has full confidence in its FY23 guidance despite posting losses of £289.5m for the half year ended 28 May 2023. The main reasons for these losses are put down to £192.5m worth of depreciation of assets and amortisation plus £77.2m worth of exceptional items. These…
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17 July
Zalando launches body measurement tool for size recommendations
Leading online fashion platform Zalando has launched a new tool that enables customers to receive size recommendations based on their unique body measurements. By taking two pictures of themselves with their phones in tight clothing, Zalando said it is able to predict the customer’s body measurements, and reportedly marks a…
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17 July
Hotter Shoes owner confirms intention to appoint administrators
Hotter Shoes owner, the Unbound Group, has confirmed its intention to appoint administrators to its main subsidiary after it was unable to raise £2m to support a restructuring plan. In an announcement, the group said it has concluded that it is required to take the “necessary steps” to preserve value…
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17 July
Sidemen opens first physical clothing store in Bluewater
Youtube collective the Sidemen have announced the launch of its first physical clothing store in Bluewater. The 6,000sq ft store is the only place fans can purchase official Sidemen merchandise, other than their website. The new store opened on 15 July at the Greenhithe Bluewater location in the Upper Rose…
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17 July
Grocery prices soar more than 25.8% in two years, says Which?
The price of groceries at supermarkets has gone up 25.8% since the cost of living crisis began, according to new data by Which? Which? looked at the prices of more than 21,000 food and drink products at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose…
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17 July
Virgin Wines FY trading meets forecast
Virgin Wines has reported that full-year revenues are expected to be £59m, and profits of “no less than £0.5m” for the year ended 30 June 2023, with trading in line with expectations. It comes as the group said it continued to execute its “disciplined strategic approach” to customer acquisition, which…
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17 July
DFS hits FY23 profit guidance amid record market share
Furniture retailer DFS has announced that it has hit its profit guidance of just over £30m for the year ended 25 June 2023. DFS stated that it hit this target despite the market being “significantly worse than expected”. The company’s gross margin rate continued to improve supported by freight costs…
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17 July
Credit insurance lowered for Boohoo suppliers
Leading credit insurer Allianz Trade has lowered cover for Boohoo’s suppliers following the financial pressures faced by the retailer, The Times has reported. The Times said it understood that Allianz Trade has reduced cover by 50% for the suppliers so far, although some have had their coverage cut to zero. …
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