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 -5 June
L’Oreal invests in biotech company Debut
L’Oreal has made a minority investment in US-based biotech company Debut in a bid to scale its manufacturing platform and meet demands for the use of breakthrough ingredients in cosmetics and skincare, The Retail Bulletin has reported. The news comes as the two companies already have existing joint development programmes. …
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2 June
Conair appoints new UK&I manager
Personal care and home appliance company, Conair, has announced the appointment of Mark Tyers as its new country manager for the UK and Ireland. He will report to Alban Wilson, the senior vice president of EMEA sales, who has been with the company for 20 years. In his new role,…
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2 June
M&S welcomes Skechers, Crocs and TOMS at ‘Brands at M&S’
Marks and Spencer has today announced it is welcoming global footwear brands Skechers, Crocs and TOMS to its ‘Brands at M&S’ online platform this season. The US footwear brands join M&S at a time when each are delivering strong performance independently, with all reporting double-digit revenue growth. Skechers has grown…
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2 June
Amazon UK tax bill rises to £781m
Amazon has reportedly paid £781m of tax in the UK last year despite its main UK division having paid no corporation tax for the second year in a row, according to The Guardian. The outlet revealed that Amazon UK Services, which accounts for over half of the retail giant’s UK…
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2 June
Revolution Beauty reports 4.2% drop in revenues in H1
Revolution Beauty Group, the multi-channel mass beauty innovator, has reported a 4.2% decrease in revenues to £75.3m for the six months ended 31 August 2022. The retailer’s operating loss in H1 23 narrowed from the previous year to £12.1m however, primarily due to reduced stock provision charge in the period…
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2 June
Retail bosses urge government to delay packaging reforms
Retail bosses across the UK are calling on the government to delay recycling reforms that are due to be introduced next year, warning that the reforms will create £1.7bn in extra costs for businesses each year. According to the Guardian, retailers, food producers and trade bodies are lobbying to delay…
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2 June
Farfetch announces New Guards Group management changes
Farfetch, the global platform for the luxury fashion industry, has appointed Cristiano Fagnani to the role of CEO of Off-White. He also remains responsible for New Guards Group’s (NGG) Reebok business as CEO of NGG++. Stephanie Phair has also been appointed chair of NGG and NGG CEO, Davide De Giglio,…
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2 June
Lululemon revenues hit $2bn in Q1
Lululemon revenues have increased by 24% to $2bn (£1.6bn) during the first quarter of 2023, as sales increased 17% on a constant dollar basis in North America and leaped 60% internationally. The group’s gross profit also increased 32% to $1.2bn (£0.9bn), while its gross margin rose 57.5% during the period. …
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1 June
M&S to freeze price of school uniforms
M&S has announced that it will be freezing the price of its school uniforms for a third of the year, as part of the retailer’s commitment to protecting value on the products that “matter the most” to customers. The announcement comes as, according to the retailer’s latest Family Matters index,…
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1 June
Ikea owner acquires supply chain solution provider Made4net
Ingka Group, owner of Ikea, has recently acquired Made4net, a leading US-based supply chain software solution provider, to improve its order fulfilment landscape. As part of its business development investments portfolio and overall retail transformation, Ingka Group will integrate Made4net’s fulfilment operations system to improve the omnichannel experience for customers…
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