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.
-
May- 2023 -5 May
Boohoo settles £156m court case over fake discounting claims
Boohoo has settled a $197m (£156m) court case in the US after the online retailer was accused of faking discounts on its US websites. The company, which owns PrettyLittleThing, NastyGal and boohooMAN, allegedly marked down and discounted inflated prices, listing items at a reduced price despite them rarely being sold…
Read More » -
5 May
Kontoor Brands sales dip 2% to $667m
Kontoor Brands has reported a decline in sales of 2% to $667m ( £528m) during the first quarter ended 1 April 2023. The maker of Lee and Wrangler denim brands said that while revenue increases were made in domestic wholesale and DTC, the company’s international wholesale market suffered, thanks to…
Read More » -
5 May
Joe Browns turnover rises 20.9% in strongest year to date
Fashion and homeware retailer Joe Browns has reported that turnover rose by 20.9% to £47.3m in the 12 months to June 2022, while profit rose by 7.8% to £4.2m, hailing the full-year results as its strongest to date. Over the full-year period, homeware sales rose by 43.6% year-on-year, while menswear…
Read More » -
5 May
Apple’s revenue recovers amid March iPhone sales boost
Apple has revealed that March iPhone sales have set an all-time high record in its service division, as revenue for the second quarter topped $94.8bn (£75.1bn) compared to a predicted $92.9bn (£73.6bn). While the group’s revenue for the quarter spells a 3% year-on-year decrease, the group has declared a cash…
Read More » -
4 May
L’Occitane sales jump 17% to €2.1bn
Beauty retail group L’Occitane has revealed its net sales jumped 17% to €2.13bn (£ 1.85bn) in the 12 month period ended 31 March 2023. The group’s sales performance in the three months ended 31 March 2023 (“FY23 Q4”) improved from that of the three months ended 31 December 2022 (“FY23…
Read More » -
4 May
PDS Limited forms PDS Radius Brands following acquisition
Global fashion supply chain platform, PDS Limited, has revealed its majority acquisition of brand management and licensing business, The Radius Group, forming PDS Radius Brands as a division of PDS Limited. The acquisition follows the recent announcement of its formation of the Ted Baker Design Group (TDG) as a strategic…
Read More » -
4 May
Aldi crowned cheapest supermarket 11th month in a row
Aldi has been named the cheapest supermarket in the UK for the 11th month in a row by Which. The findings come from the consumer group’s monthly Cheapest Supermarket price comparison, which examines the cost of a basket of items, including groceries and household essentials. Its latest research found that…
Read More » -
4 May
Zalando reports €2.3bn revenues in Q1
Zalando, one of Europe’s leading online platforms for fashion and lifestyle, reported a revenue increase of 2.3% to €2.3bn (£2bn) in the first quarter of 2023. The company reported a gross merchandise volume increase of 2.8% to €3.2bn (£2.8bn) and adjusted earnings before tax level compared with -€52m (-£45m) in…
Read More » -
4 May
Nisa to open a further 400 stores in expansion drive
Nisa, the wholesale and independent retail specialist, is set to open a further 400 stores this year as part of its “ambitious” recruitment drive. It comes after the wholesaler opened 473 new stores in 2022 and has seen a strong start to the year with 130 stores having been recruited…
Read More » -
4 May
Farfetch launches Reebok partnership
Farfetch, the leading global platform for the luxury fashion industry, has recently launched its European partnership with Reebok, following its acquisition in 2022. The partnership is being managed by New Guards Group (NGG), a wholly owned Farfetch company. NGG has formed a new division, NGG++, to operate the Reebok brand…
Read More »
