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 -2 May
UK retailers must find ways to attract customers amid boom in resale market, True Fit says
UK shoppers make twice as many apparel purchases on second-hand platforms than they make on social media, according to the latest data from True Fit, the leading data-driven platform that decodes fit and size for leading apparel and footwear retailers. With the global fashion resale market expected to grow 127%…
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2 May
Footasylum to open Oxford Street flagship
Fashion streetwear and sportswear retailer, Footasylum, has announced that it will be opening a flagship store at 73-89 Oxford Street, London, as it continues its nationwide plans for expansion. The new 20,000 sq ft store will officially open in the second half of 2023, with an exact launch date yet…
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2 May
Castore forecasts 100% revenue growth to $250m in 2023
British sportswear brand, Castore, has revealed it expects 2023 revenues to jump 30% to $250m (£200m), and a representative increase of 100% year on year. It said the performance is attributed to a number of key factors including new kit deals for new teams in Europe such as, Feyenoord Rotterdam…
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2 May
CMA urged to investigate ‘profiteering’ supermarkets amid high inflation
The Liberal Democrats have called on the Competition and Markets Authority (CMA) to investigate “profiteering” supermarkets after food price inflation hit a record high in April. According to The Guardian, analysis by the Lib Dems found that the cost of a typical weekly shop has risen by nearly £12, or…
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2 May
Anthropologie announces three new leadership appointments
Anthropologie Group, the American lifestyle brand, has recently announced new leadership appointments to its team. Anthropologie’s global chief executive officer, Tricia Smith, announced the promotion of Anu Narayanan to president of women’s: apparel, accessories, weddings, and beauty. Since joining Anthropologie in 2018, Narayanan has led the women’s apparel and accessory…
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2 May
Shop price inflation falls for first time in 2023
Shop price inflation is thought to have peaked in the first week of April, according to the BRC, after it declined to 8.8%, down slightly from 8.9% in March. Despite the fall, it remains at record-highs in some areas, and continued to exceed the three-month average of 8.7%. Meanwhile, food…
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2 May
Superdry in talks for £15m share sale
Superdry has confirmed that it is in talks to raise capital which, according to Sky News, could be worth around £15m. Sky also discovered that the company could unveil a cash call as soon as next week after discussions with City investors. This news follows the announcement last month that…
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2 May
John Lewis to downsize head office in cost-cutting efforts
John Lewis is looking to halve its office space in an effort to cut costs through a loose hybrid working approach, as the company is now hunting for an office of 100,000 sq ft compared with its current 220,000 sq ft space, The Times has reported. The partnership, which also…
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Apr- 2023 -28 April
L’Occitane Group unveils its net-zero roadmap
The L’Occitane Group has unveiled a new net-zero roadmap as part of its commitment to reach a science-based net-zero target across all of its brands. The group said it aims to reduce its greenhouse gas (GHG) emissions by 2031 and achieve net-zero emissions by 2050, with its targets validated by…
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28 April
UK consumers saving cash due to mislabeling, Brother UK finds
UK shoppers are cashing-in on price label blunders, with 41% of consumers having personally saved money on products that have been mis-labelled in-store, or know friends or family that have, according to new research by retail technology provider Brother UK. The study of 2,000 consumers and 250 SME retailers, which…
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