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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Mar- 2023 -3 March
L Catterton acquires majority stake in A.P.C
L Catterton has announced that it has acquired a controlling stake in global French clothing brand, Atelier de Production et de Création (A.P.C.), to advance the brand’s international presence. Since the brand’s inception in 1987, Jean Touitou founded and has been managing A.P.C. He was joined by Judith Touitou in…
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3 March
Amazon plans to abandon Gloucester distribution centre
Amazon has revealed its plan to abandon its Gloucester Centre Severn distribution centre, which the company noted had never been “fully” operational. According to the online retailer, the centre is due to close as the group looks to evaluate its distribution network, with plans for the vacant Gloucester site to…
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3 March
WH Smith hit by cyber security attack
WH Smith has been hit by a large cyber security incident which has resulted in company data, including current and former employee data, being hacked by attackers. The group said the attack had no impact on its trading activities, and that its website, customer accounts and customer databases were unaffected…
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2 March
Victorian Plumbing welcomes strong start to FY23
Victorian Plumbing has welcomed a “strong” start to the financial year, with revenues up by 10% in the five months to 28 February 2023.Over the period, it also reported an improvement in gross margin and marketing spend efficiency versus the comparative period last year. This performance was said to be…
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2 March
Footfall falls by 5.3% following half-term boost
Footfall across UK retail destinations declined by -5.3% last week from the week before when it surged +7.6% thanks to school half-term. Over the three days from Monday to Wednesday footfall declined by an average of -12.6% in response to an average rise of +16.8% over the same three days…
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2 March
High street chain stores closing at lowest rate since 2014
High street chain stores closed at the slowest rate since 2014 in the second half of 2022 according to data from accounting firm PWC. A total of 11,530 chain outlets, brands with five or more stores, exited GB high streets, shopping centres and retail parks, an average of 32 closures…
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2 March
Shop Price inflation hits 8.4% in February
Shop price inflation reached a record high in February amid warnings that consumers are unlikely to see prices dropping again for months, according to the latest figures from the British Retail Consortium (BRC). Shop Price annual inflation accelerated to 8.4% in February, up from 8.0% in January and well above…
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2 March
Urban Outfitters owner hits record income for Q4
Urban Outfitters, Inc, the retail operator of brands Urban Outfitters, Anthropologie, and Free People, has revealed a record net income of $31.5m (£26.3m) for the fourth quarter ending 31 January 2023. The news comes as during the three months in the run-up to the end of Q4, the company’s total…
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2 March
Pret A Manger to give staff third pay rise in a year
Pret A Manger has announced that it will give staff a 3% pay rise, the third one in 12 months. Starting from April, team members will see a pay increase from between £10.30 and £11.55 per hour to between £10.60 and £11.90 per hour depending on location while baristas’ pay…
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1 March
Travis Perkins closes 19 stores as its profits fall 20% to £192m
DIY retailer and building material supplier Travis Perkins has revealed it reduced its store estate by 19 branches and axed 400 roles at the end of last year as its profits after tax fell 20% to £192m. Travis Perkins revealed the cost-saving decision in its full-year results for the year…
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