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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Apr- 2023 -5 April
Screwfix to open 85 new stores in 2023
Screwfix, the omn-ichannel retailer, has announced plans to open up to 85 new stores across the UK, Ireland and France by the end of January 2024, creating more than 800 jobs in local communities. The announcement follows a record year of store openings in 2022, including its first five stores…
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5 April
Topps Tiles revenues hit ‘record’ high in H1
Topps Tiles has welcomed a period of “record” revenues for the group in the first half of the year, with revenues of £130.5m, £11.3m or 9.5% higher than the prior year. Around £9m of its revenue growth in the period was attributed to the acquisition of Pro Tiler Tools and…
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5 April
Co-op profits hit £247m but warns on future impact of inflation
Co-op has seen its revenues surge £300m to £11.5bn, up from £11.2bn, for the year ended 31 December 2022. Alongside this the company posted a pre-tax underlying profit of £247m up from £57m in 2021. Furthermore, the retailer maintained the same underlying profit number of £100m compared with last year.…
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5 April
Apparel Brands acquires streetwear label Nicce
Apparel Brands Ltd has acquired East London-based streetwear brand Nicce. It will take on the licence for Nicce clothing across wholesale and e-commerce. The streetwear brand said that with Apparel Brands support and guidance, Nicce will focus on “strengthening its wholesale business and accelerating e-commerce and international growth”. Meanwhile, following…
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5 April
Apple to cut corporate retail jobs
Apple is reportedly set to axe a “very small” number of roles within its corporate retail teams in a bid to streamline operations, Bloomberg has reported. The news is said to come from people close to the company and it is understood that currently it is unclear how many roles…
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5 April
N Brown appoints former Hobbs CEO to board
N Brown Group has recently confirmed the appointment of Meg Lustman as an independent non-executive director. Lustman, who is a former Hobbs chief executive, has 35 years of experience in the retail industry. She held senior positions at many of the UK’s leading fashion retailers as well as having spent…
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4 April
Supermarket till value sales rise to 11.5% in March
As food inflation in March soared to 15%1, total till value sales rose to 11.5% in the last four weeks ending 25 March, up from 11.1% in February, according to new data from NIQ. UK supermarkets experienced a 7% increase in shopping visits to stores, with a 13% uplift in…
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4 April
Varley opens first European store on King’s Road
Athleisure brand Varley is set to open its first ever European store this summer, with a new flagship site on the King’s Road in London. The store has been signed on a five-year lease and will span 2,203 sq. ft in a prominent position on the King’s Road, alongside nearby…
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4 April
Body Shop owner sells Aesop to L’Oreal for £2bn
Owner of The Body Shop Natura and Co has announced that it has sold Aesop to L’Oreal in a £2bn deal. The luxury beauty brand has been sold after 10 years under the Natura umbrella. The sale is still subject to the usual regulatory checks and is expected to be…
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4 April
Authentic Brands to acquire Boardriders
Global brand development Authentic Brands Group has made a binding offer to acquire Boardriders, a global action sports and lifestyle company, from funds managed by Oaktree Capital Management, L.P. The group said that the deal would diversify and expand its portfolio with the addition of the Quiksilver, Billabong, Roxy, DC…
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