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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Feb- 2023 -17 February
Cath Kidston owner explores sale of business
The owner of the Cath Kidston is reportedly exploring a sale of the business only eight months after buying it. According to Sky News, owner Hilco Capital has been approached by a “number” of potential buyers who are interested in acquiring the modern vintage brand. Sources told Sky that Hilco…
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16 February
500 jobs at risk at New Look distribution centre
New Look is reportedly planning to axe up to 500 roles at its distribution centre in Lymedale, Newcastle-under-Lyme, Drapers has reported. It comes as the brand has been forced to shut down night shifts due to a reduction in its store portfolio over the last several years. According to Drapers,…
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16 February
Wilko to axe over 400 jobs as sales fall
Wilko is reportedly set to axe over 400 jobs across the company as part of plans to cut costs amid struggling sales. According to The Guardian, those affected by the cuts may include assistant store managers, retail supervisors, head office managers and call centre workers. The group reportedly told staff…
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16 February
Secret Sales welcomes 70% growth in FY22
Secret Sales has welcomed “exceptional growth” in 2022, reporting 70% like-for-like growth that “far exceeds the industry norm”. According to the business, it is set to maintain its momentum with an “unprecedented” 85% growth in 2023, and has already reported 80% like-for-like growth in January sales alone. The non-full price…
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16 February
Aldi to create 6,000 new jobs this year
Aldi has announced that it is set to create 6,000 new jobs in 2023 amid plans to open new stores across the UK. The company currently has more than 990 stores and employs around 40,000 people. Aldi will be opening new stores in towns and cities such as Norwich and…
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15 February
Inflation falls to 10.1% in January
Inflation slowed for the third consecutive month in January to 10.1%, down from 10.5% in December, but remains close to a near 40-year high. According to the latest figures from the Office for National Statistics (ONS), on a monthly basis, inflation fell by 0.6% in January 2023, compared with a…
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15 February
Dunelm profits fall 17% despite sales increase
Home retailer Dunelm has announced a 17% fall in its pre tax profits to £117m, down from £141m, for the 26 weeks ended 31 December 2022. The firm revealed the fall in profit comes despite a 5% increase in sales to £835m compared with £766m from the first half of…
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15 February
Waitrose commits to ‘record’ price cuts of £100m
Waitrose has committed to a record £100m in price cuts across hundreds of everyday products to help customers during the cost-of-living crisis. The price cuts begin from today (15 February) on over 300 own-brand products, and nearly a quarter of prices are being cut by 20% or more. The cuts…
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15 February
Lush appoints new UK&I head of retail
Lush has announced the appointment of Kasey Swithenbank as the brand’s new head of retail for the UK and Ireland. Swithenbank has over 13 years of experience with the retailer, having previously managed and directed over 100 Lush shop managers. She joined Lush as a sales associate in the Cardiff…
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14 February
Former Topps Tiles CEO acquires Tile Giant out of administration
Specialist retailer Tile Giant has been sold out of administration to two separate companies; Stiled Holdings and CTD Tiles. Interpath Advisory were named as administrators on 13 February 2023 and instantly sold the business to the two parties. Stiled Holdings, which is lead by the former Topps Tiles CEO Matt…
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