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 -25 April
Zalando launches virtual fitting rooms
Zalando, one of Europe’s leading platforms for fashion and lifestyle, is piloting a virtual fitting room experience with millions of customers across all markets. In a dedicated campaign environment, customers are able to create a 3D avatar by inputting their height, weight and gender. For a selected range of jeans…
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24 April
Lidl continues search for new sites
Lidl GB has set out its intentions to expand its store estate across the country with a list of priority locations for new stores. The update comes after Lidl welcomed a record number of new shoppers to its stores in 2022, as over 1.4 million switched to Lidl from other…
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24 April
Coronation weekend to boost footfall by 4%
The Coronation weekend is set to boost footfall by 4.0% compared to 2022 across all UK retail destinations, MRI Springboard has predicted. According to its analysis, high street retailers can expect a “significant” boost over the weekend, with footfall up 12.0% from 2022 on the bank holiday Monday following the…
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24 April
Gymshark profits slip by 38.7% in FY22
Gymshark has revealed that its profits slipped by 38.7% for the year ended 31 July 2022, citing soaring production costs and customers with less disposable income as the reason behind its performance. The news comes as the Birmingham-based athletic clothing retailer, which opened its first brick-and-mortar store on Regent Street,…
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24 April
Kering set to pay £13m rent for Bond Street store
Luxury retailer Kering is set to pay £13m or more per year for a new Yves Saint Lauren store on Bond Street, according to the Sunday Times. This figure of £13m is thought to be a UK record surpassing the £11m paid by Ralph Lauren for its Bond Street store…
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24 April
Retail profit warnings fall to lowest level since 2020
UK-listed retailers issued five profit warnings in Q1 2023, marking a decrease from the nine issued in both Q4 2022 and Q1 2022, according to the latest data from EY. Despite representing the sector’s lowest quarterly total since Q4 2020, it said “persistent inflation, high interest rates and tightening consumer…
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24 April
Levi Strauss appoints new chief marketing officer
Levi Strauss & Co has recently announced the appointment of Kenny Mitchell as senior vice president and chief marketing officer of the brand, effective from June 5. Mitchell will be responsible for advancing the brand’s consumer marketing strategies, focused on building denim leadership equity, cementing its position as a lifestyle…
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24 April
THG appoints new senior independent director
THG has announced the appointment of Sue Farr as senior independent director with immediate effect. She has spent 16 years in various non-executive director roles, following a career in media, advertising and marketing. Her current non-executive directorships include senior independent director at British American Tobacco plc, interim senior independent director…
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24 April
Peacocks to open new locations at former M&Co sites
High street fashion retailer Peacocks is reportedly looking to expand to more than 20 locations in former M&Co stores, according to Drapers. Peacocks is set to start trading in an old M&Co store in Stornoway, Scotland, in the coming months. According to Drapers’ report, the retailer is also in advanced…
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24 April
Farmison & Co acquired by consortium led by former Asda CEO
Farmison and Co, a sustainable online meat retailer, has been acquired by a consortium led by former Asda CEO Andy Clarke, alongside Chilli Marketing’s Gareth Whittle, Christian Barton and Kieron Barton for an undisclosed sum. In the coming weeks, the consortium will aim to recommence operations at Farmison’s production facility…
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