News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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May- 2023 -23 May
Frasers launches bid to acquire ProBikeKit
Frasers Group is in talks to buy cycling goods specialist ProBikeKit, according to Sky News. Mike Ashley’s retail group is reportedly set to acquire the stock and IP assets of the cycling retailer from THG, the beauty and nutrition online company. In April, THG revealed that following a strategic review…
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23 May
Victoria Plumbing revenues up 10% in H1
Victoria Plumbing has revealed that half-year revenues increased 10% year-on-year to £146.8m for the six months ended 31 March, compared with £133.9m in the same period last year. In addition, the bathroom retailer has improved its gross profit for the period, increasing 14% year-on-year to £66.8m, with the gross profit…
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22 May
M&S launches 12 week paid Neonatal Leave
Marks & Spencer has today announced a new policy which will give families of premature babies or babies that need additional care when they are born, extra leave and pay to spend vital time with their new-born without colleagues having to worry about work or using up their maternity, paternity,…
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22 May
Wilko eyes CVA to slash costs
Wilko is considering entering into a company voluntary arrangement (CVA) to renegotiate rents and possibly close some of its stores in a bid to cut costs across the group, according to Bloomberg. Bloomberg reports that the struggling discount chain has reached out to PwC to explore its restructuring options, which…
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22 May
Foot Locker sees 11.4% drop in sales to $1.9bn
Foot Locker has reported a 11.4% decline in total sales to $1.92bn (£1.5bn) for its first quarter ended 29 April 2023, compared with sales of $2.1bn (£1.6bn) in the first quarter of 2022. Excluding the effect of foreign exchange rate fluctuations, total sales for the first quarter decreased by 10%.…
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22 May
Sandersons appoints new head of buying
Independent department store Sandersons has recently appointed Louise Fearnehough as head of buying. Fearnehough joined the company seven years ago and during that time has worked in the beauty department, headed the fragrance team and two years ago was promoted to running the company’s flagship store at Fox Valley in…
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22 May
Sainsbury’s plots online fashion marketplace
Sainsbury’s is planning to launch an online fashion marketplace for high street fashion brands, according to reports from The Times. The supermarket is pitching to fashion brands on selling products on this marketplace and in 60 of its stores. Sources told The Times that the company had already approached Jigsaw,…
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22 May
E-bike brand Cowboy launches retail partner network
E-bike brand Cowboy has announced the launch of its retail partner network with independent bike shops across Europe. The brand said the launch will increase its retail and service presence, strengthening its omni-channel approach by complementing its current online sales channels, brand stores and mobile network of mechanics and test…
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22 May
LK Bennett profits hit £30m amid spike in eventwear sales
LK Bennett has reported a 40% rise in its gross profit for the year ended January 2023 to over £30m, thanks to an increase in eventwear sales, according to Drapers. During the 12 months to January, the brand’s turnover stood at £49m, which means a 30% increase on the previous…
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19 May
Dobbies increases support for team members’ mental health
UK garden centre retailer Dobbies will be increasing the mental health support of its 4,000 team members by training more mental health first aiders across its business. As part of the retailer’s continued commitment to the wellbeing of its team, it has increased the number of mental health first aiders…
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