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 -10 April
Wilko collapses into administration, 12,000 jobs at risk
High street homeware retailer Wilko has collapsed into administration, putting around 12,000 jobs at risk. In an open letter confirming the news, CEO Mark Jackson said the business had left “no stone unturned” in an attempt to keep the business afloat but has conceded it has “no choice but to…
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6 April
Asos appoints two non-executive directors
Asos has announced the appointments of Natasja Laheij and Jose Manuel Martinéz Gutiérrez as independent non-executive directors. Laheij is currently Google’s senior finance director for Google EMEA, chair of the board of Google Payments Ltd. and audit chair of Vandemoortele. She has more than 25 years of experience in international…
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6 April
Cambridge-based investors Mark Reed and Rich Marsden acquires Ebuyer.com
Cambridge-based investor Mark Reed and industry veteran Rich Marsden have announced the acquisition of Ebuyer.com. The technology retailer, which is based in Goole, reported a £241m turnover in 2021 and employs more than 200 people. Previously owned by Wren Kitchens owner West Retail Group for 19 years, Ebuyer.com will move…
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6 April
Footfall falls 2.8% in March
March delivered an unexpected shock for retailers as footfall across all UK retail destinations dropped by -2.8% compared with February, according to the latest data from MRI Springboard. Springboard said it is the first month-on-month decline for March since it started publishing data in January 2009, except for 2018 (Beast…
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6 April
Battersea Power Station welcomes 5 million visitors since opening
Battersea Power Station has welcomed more than five million visitors and over 20 new shops, eateries and leisure venue openings since opening last October. New openings at the Grade II-listed building include Jigsaw, Under Armour, ME +EM, Kiehl’s, Hackett, IWC, Swatch, Reformation, Pinko, Bimba Y Lola, Theory, The North Face,…
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6 April
THG signs 10-year partnership with Maximo Group
THG PLC has announced a new partnership with beauty e-commerce retailer Maximo Group, home to sites including All Beauty and Fragrance Direct. The 10-year partnership will initially focus on re-platforming the sites to the Ingenuity platform, as part of Maximo’s strategic growth plans. THG Ingenuity will also become Maximo’s key…
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6 April
Cerruti 1881 and Kent and Curwen acquired for £83m
Biem.L.Fdlkk Garment, a Chinese golf clothing brand, has acquired French fashion label Cerruti 1881 and British menswear brand Kent and Curwen for a total of €95m (£83m), according to WWD coverage. It is reported that the Chinese manufacturer paid the equivalent of £50m for the trademark rights of Cerruti 1881…
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5 April
Screwfix to open 85 new stores in 2023
Screwfix, the omn-ichannel retailer, has announced plans to open up to 85 new stores across the UK, Ireland and France by the end of January 2024, creating more than 800 jobs in local communities. The announcement follows a record year of store openings in 2022, including its first five stores…
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5 April
Topps Tiles revenues hit ‘record’ high in H1
Topps Tiles has welcomed a period of “record” revenues for the group in the first half of the year, with revenues of £130.5m, £11.3m or 9.5% higher than the prior year. Around £9m of its revenue growth in the period was attributed to the acquisition of Pro Tiler Tools and…
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5 April
Co-op profits hit £247m but warns on future impact of inflation
Co-op has seen its revenues surge £300m to £11.5bn, up from £11.2bn, for the year ended 31 December 2022. Alongside this the company posted a pre-tax underlying profit of £247m up from £57m in 2021. Furthermore, the retailer maintained the same underlying profit number of £100m compared with last year.…
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