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 -6 June
Wolverine Worldwide makes three new leadership appointments
Wolverine Worldwide, which operates one of the world’s largest portfolios of lifestyle and footwear brands, has announced several senior leadership appointments to help drive future growth and accelerate its global brand-building efforts. The company is naming Chris Hufnagel president of Wolverine Worldwide, responsible for leading and driving strategy across the…
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6 June
Retail sales slow despite bank holiday boost
The ONS has reported that UK total retail sales increased by 3.9% in the four weeks between 30 April and 27 May, yet were still below the three-month average growth of 4.7% despite three bank holidays taking place in one month. However, May retail sales improved upon a 1.1% decline…
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6 June
N Brown profits plunge over 80% in FY23
N Brown has seen its pre-tax profit plummet by 82.6% to £7.5m in FY23, down from £43.1m the year before, as the group grappled with a challenging market with inflation impacting both customer spend and its cost base. On a statutory basis, the group fell to a pre-tax loss of…
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5 June
Tesco encourages shoppers to support allergy awareness campaign
Tesco shoppers are being encouraged to help an ongoing in-store and online allergy awareness and fundraising campaign between 3 to 11 of June to support medical research into food allergies. For the fourth year running, Tesco is working with The Natasha Allergy Research Foundation by donating 10p from every Tesco…
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5 June
Debenhams partners with lifestyle brand Nautica
Debenhams has partnered with global lifestyle brand Nautica, making the brand now available to purchase through its online marketplace. The news comes as the US-based retailer, which is best known for its ‘preppy’ apparel, relaunched in the UK and EU market last year, with head of design Tim Peck heading…
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5 June
Asos faced £1bn takeover bid from Alibaba-backed retailer
Asos reportedly faced a £1bn takeover offer from Turkish online retailer Trendyol in December of last year. According to The Sunday Times, the offer from Trendyol, which is backed by Chinese retail giant Alibaba, valued the retailer between £10 and £12 a share. The outlet added that Trendyol had engaged…
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5 June
Gov’s food price measures must target small stores, warns Which?
Which?, the consumer group has reportedly written to Jeremy Hunt claiming the government must also target small grocery stores with its food price measures in order for it to be effective. According to the Guardian, it also stated that a “blanket approach” will not address poor households’ access to affordable…
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5 June
Supply chain pressures slow down retail growth
Continued supply chain pressures, including cost increases, delayed materials and shortages outrank workforce challenges and increasing business costs as a main concern for over a third (36%) of mid-sized businesses, according to latest research from accountancy and business advisory firm BDO. The bi-monthly survey, which was conducted on 500 medium-sized…
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5 June
Authentic Brands Group acquires IP of Hunter
Authentic Brands Group (Authentic), a global brand development, marketing and entertainment platform, has acquired the intellectual property of footwear brand Hunter. The British heritage brand, best known for its “iconic” Wellington boots, has evolved over the years from a rubber boot to a lifestyle brand, offering an expansive footwear collection,…
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5 June
Frasers Group considers cutting 200 head office jobs
Frasers Group is considering cutting up to 200 jobs at its head offices in Shirebrook and London in a bid to streamline the business. The company owned by Mike Ashley has begun a consultation period which has left 20% of its staff at these offices at risk of redundancy. The…
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