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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Mar- 2023 -30 March
Brunel shopping centre to focus less on retail
Swindon’s Brunel shopping centre has announced plans for redevelopment with less of a focus on retail. According to the BBC , when the shopping centre opened in 1973, it was among the “first” of a new era of shopping precincts. However, 50 years later, many of the shop units are…
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30 March
Moonpig revenues remain unchanged at £320m in FY22
Moonpig has revealed that the group’s annual revenues for the financial year ending 30 April remain unchanged at roughly £320m, with full-year adjusted EBITDA also remaining unchanged. The news comes as the online retailer’s performance has been resilient across the second half of the year to date, having recorded its…
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29 March
Asda profits fall 24% to £886m amid attempts to mitigate inflation
Asda has revealed its full-year profits declined 24% to £886m during the 52-week period ending 31 December due to its attempts to mitigate inflationary pressures for customers. It revealed total sales (excluding fuel) increased by 0.1% year-on-year to £20.45bn amid a “strong upturn” in performance in H2, with like-for-like sales…
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29 March
Aviva acquires Southampton retail park
Aviva Investors, the global asset manager of Aviva plc, has revealed it has acquired the Hedge End Retail Park in Southampton, alongside the separate purchase of an Asda superstore in Hayes, Middlesex. It said the two deals continue Aviva Investors’ desire to act as a strategic buyer of real estate…
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29 March
American Golf appoints new CEO
International Leisure Group in conjunction with Endless LLP has announced Nigel Oddy as its newly appointed CEO. Oddy will succeed Gary Favell from 11 April 2023 and assume responsibilities for ILG, including Europe’s leading golf retailer, American Golf. Before joining American Golf, Oddy most recently held the position of interim…
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29 March
Unbound Group shares surge amid possible takeover
Unbound Group saw its shares surge on Tuesday (28 March) after the clothing company announced a possible cash offer by WoolOvers Group, a knitwear company which targets the same demographic. Under the terms of the offer, Unbound shareholders would receive a 10.5 pence in cash and 1 contingent value right…
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29 March
Next profits jump 5.7% to £870m amid anticipation of future decline
Next has announced that its pre-tax profits rose 5.7% to £870m, up from £823m, for the year ended 31 January 2023. This number was £10m above the retailer’s guidance which it put down to strong sales in both its retail and total platform businesses. Furthermore, the company’s total trading sales…
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29 March
Next acquires Cath Kidston for £8.5m with job losses expected
Next has agreed to acquire the brand name, domain names and intellectual property of Cath Kidston for £8.5m, with job cuts expected as the group is wound down and its remaining stores close. The group said the cathkidston.com domain will be licenced back to the administrators for a period of…
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29 March
Boots welcomes ‘record’ beauty sales over Christmas period
Boots has revealed that for the three months to 28 February, Christmas trading brought a “record-breaking” performance for its beauty category which saw retail sales grow 16%. The business reported its eighth consecutive quarter of market share growth across all categories, with beauty performing the best for the quarter. Skincare…
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28 March
Supermarket sales up 8.6% as grocery inflation hits 17.5%
Take-home grocery sales increased 8.6% over the most recent 12 week-period as grocery price inflation reached record levels. According to the latest figures from Kantar, grocery price inflation reached 17.5%, adding £837 to the average household’s annual bill, with prices rising fastest in eggs, milk and cheese. Across the retailers,…
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