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 -16 May
CMA to investigate competition failure among supermarkets
The Competition and Markets Authority (CMA) has announced that it will be “stepping up” its work in the grocery sector to see whether any failure in competition is contributing to grocery prices being higher than they would be in a “well-functioning” market. This comes as cost-of-living pressures have grown, and…
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16 May
Unemployment rises to 3.9%
The unemployment rate for January to March 2023 increased by 0.1 percentage points during the first quarter to 3.9% amid a surge in those not working due to ill health, according to the latest statistics from the Office For National Statistics (ONS). The ONS also found that the UK employment…
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16 May
Boohoo profits halve in FY22
Boohoo has seen its profits fall by 49% to £63.3m in 2022, with revenues falling to £1.8bn, down by 11% against last year, though up by 3% on 2020. Over the year, UK revenues were down by 9% against the 2021 but were up by 61% against 2020, which the…
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16 May
ABG closes in on Hunter Boots acquisition
American-based brand management business Authentic Brands Group is reportedly closing in on the acquisition of royal warrant-holding footwear brand Hunter, according to Sky News. Sky News stated that Hunter has listed Authentic as the preferred bidder as a sale process nears a conclusion. It also said that one source suggested…
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16 May
Frasers Group considers sale of Pretty Green
Frasers Group is recently considering selling Liam Gallagher’s fashion brand Pretty Green, Drapers has revealed. The company was part of the brands acquired by Frasers from JD Sports in December 2022. The other brands part of the acquisition included Base Childrenswear, Choice, Clothingsites, Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas…
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16 May
Shoe Zone H1 profits halve despite revenue increase
Shoe Zone has announced that its profit before tax halved to £1.5m, down from £3.1m, for the 26 weeks ended 1 April 2023. The company’s adjusted profit before tax was £2.5m after a £1.3m forex loss was offset by £0.3m profit on sale of freehold. Despite this the company saw…
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15 May
Sports Direct opens new store at Braehead Centre
Sports Direct is set to open a new store in the Braehead Centre. The brand will relocate and upsize from its existing store in the retail park to a new 20,000 sq. ft store on the upper level of the main centre. The new store will feature the “best brands”…
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15 May
John Lewis appoints Saatchi & Saatchi as new creative partner
The John Lewis Partnership has appointed Saatchi and Saatchi as its new creative marketing partner for both John Lewis and Waitrose. Starting from the summer, Saatchi and Saatchi will become the lead creative agency for all JLP, John Lewis, John Lewis Financial Services and Waitrose brand and advertising activity. All…
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15 May
Beauty Pie appoints new CEO
Skincare and make-up retailer Beauty Pie has announced the appointment of Kevin Cornils to the role of CEO ahead of its next phase of growth. The appointment comes as the brand, which is on a mission to build “the world’s biggest luxury buyer’s club”, is ninth on the UK’s growth…
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15 May
KMD Brands appoints new Kathmandu CEO
KMD Brands Limited, the global outdoor, lifestyle and sports company, has appointed Megan Welch as CEO of Kathmandu. Welch will be based in Christchurch, Aotearoa New Zealand, at Kathmandu’s head office, and takes over from Michael Daly, group CEO and managing director of KMD Brands, who has been caretaking the…
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