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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Jun- 2023 -29 June
Ted Baker axes 200 jobs amid restructure
Ted Baker has reportedly axed around 200 jobs at its head office amid the start of a new outsourcing model, according to Drapers. Drapers said it understood that the affected positions were made redundant earlier this month, and were seen across departments including sourcing, finance, production, and footwear. The outsourcing…
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29 June
Moonpig profits fall to £48m despite sales growth
Moonpig has reported its pre tax profits fell 6.9% to £48.0m in the year ended 30 April, despite seeing a 5.2% increase in revenues to £320.1m. Gross margins increased by 6.8% to 56.1%, while adjusted underlying earnings (EBITDA) jumped 12.4% to £84.2m. According to the greetings card group, trading since…
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29 June
B&M revenues grow 13.5% in Q1
B&M has announced a “strong and profitable” trading momentum across the whole business over the 13-week period from 26 March to 24 June, as total group revenues grew 13.5% in line with expectations. The group also achieved like-for-like sales growth of 9.2% in Q1, with both grocery and general merchandise…
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28 June
ProCook revenues fall 9.9% in FY23
Kitchenware brand ProCook has revealed that total revenues fell by 9.9% to £62.3m in the year ended 2 April, with like-for-like revenues declining by 10.7% year-on-year following outperformance by the group last year. The group attributed its performance to gross profit margins being held back by higher supply chain costs…
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28 June
Sweaty Betty and Space NK make debut at Liverpool ONE
Activewear brand Sweaty Betty and luxury cosmetics retailer Space NK have both opened at Liverpool ONE, Grosvenor has revealed. Sweaty Betty has made its city store debut in the 2,500 sq ft Peter Lane’s site, marking the brand’s largest retail store in the North of England. The store debuts a…
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28 June
UK retail rewards programmes influence £74.9 billion in consumer spending
As the cost of living crisis continues to bite, a new report by shopping rewards experts Webloyalty and economists Cebr has revealed the pressures both retailers and consumers face in 2023. With retailers tackling weaker margins and cost pressures and price conscious shoppers shifting their shopping habits as saving money…
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28 June
Unbound Group ends sales process after failure to secure offers
Unbound Group, owner of Hotter Shoes, has closed its sales process after receiving no potential offers capable of obtaining shareholder and stakeholder support. The group previously launched a strategic review and formal sales process on 19 May to consider the options available to maximise the company’s value, among which the…
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28 June
Boohoo presses suppliers for discount on current orders
Boohoo has reportedly “demanded” a 10% discount on current orders from some suppliers for the second time, as it looks to cut costs across its supply chain, Drapers has reported. Drapers said it understood the products involved are either in production or have been shipped. According to an email sent…
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28 June
Mulberry profits fall to £13.2m in FY23
Mulberry has reported that pre-tax profits fell from £21.3m to £13.2m in the year ended 1 April 2023, despite reporting that revenues rose by 4% to £159.1m over the same period. Its UK retail sales saw a slight decline from £88.5m to £87.7m however, as the first half of the…
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28 June
Boots to close 300 stores despite strong Q3 sales
Boots will reportedly shut 300 branches across the UK over the coming year, despite the group’s retail sales increasing by 13.4% in its third quarter of trading, as the retailer looks to consolidate the business. According to the BBC, the move will see its portfolio fall from 2,200 stores to…
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