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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Jan- 2023 -11 January
ScS acquires Snugsofa.com out of administration
ScS has announced it has acquired the brand, domain names, website, intellectual property and stock of Snugsofa.com from the administrators of Snug Shack Limited for consideration of £875,000. Snug is a digital-first sofa and sofa-bed business specialising in modular and reconfigurable sofas. Snug was founded by Robert and Peter Bridgman…
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11 January
Topps Tiles hails strong Q1 trading
Topps Tiles has reported a “strong Q1” with group sales up 10.2% year on year for the 13-weeks ended 31 December 2022. The company stated that approximately half of this growth was down to its acquisition of Pro Tiler Tools. It also believes that the timing of Christmas and New…
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11 January
Sainsbury’s raises profit outlook as sales jump 7.1%
Sainsbury’s has revealed that its total sales jumped 7.1% in the six weeks to January 6, boosting its Q3 like-for-like sales performance 5.9%. General merchandise sales jumped to 7.4%, with Argos sales 7.1% up and clothing sales growing 5.1%. As a result, the grocer also revealed that profits are expected…
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10 January
Retail sales rise 6.9% over Christmas
The BRC has reported that sales on a total basis increased by 6.9% in December 2022, compared with the prior increase of 2.1% in December 2021. These figures are said to be above both the three-month average growth of 4.4% and the 12-month average growth of 3.1%. Meanwhile, the UK’s…
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10 January
AO raises profit outlook despite 17% drop in Q3 revenues
Electronics retailer AO has raised its profit expectations for FY23 despite seeing a 17.2% decrease in revenues across its UK businesses in Q3. The company now expects its adjusted EBITDA to be between £30m to £40m for the full year. It also stated that its turnaround plan aimed at cutting…
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10 January
The Fragrance Shop reports ‘record sales’ amid 11% increase
The Fragrance Shop has announced that it saw an 11.2% increase in underlying sales in the six weeks ending 31 December 2022, compared with the same period the previous year. The company said the “record” sales performance was fuelled by popular new fragrance launches, such as Paradoxe by Prada, Fame…
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10 January
Supermarkets see spending surge in final weeks of December
Total Till value growth at supermarkets increased to 10.9% from 7.6% in the final four weeks ending 31 December 2022, according to the latest data from NielsenIQ. Nielsen said the increase was due to accelerated food inflation, weak comparatives and strong sales in the seven-day trading week up to 24…
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10 January
Card Factory ups FY guidance amid strong Xmas sales
Card Factory has raised its full-year guidance following a year of “good momentum” across the business, with sales boosted by a return to high street spending, particularly over the Christmas trading period. The group anticipates that EBITDA in FY23 will now be at least £106m, up from a previous guidance…
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9 January
Decathlon to introduce ‘movement breaks’ to boost staff wellbeing
Decathlon has introduced ‘movement breaks’ to all 1,655 of its members of staff in the UK to “improve mental wellbeing during the difficult month of January” and has also called on other businesses to do the same. Decathlon, the sports retailer, has introduced the workplace initiative following new research that…
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9 January
MusicMagpie agrees online deal with Walmart
MusicMagpie, a refurbished consumer technology and disc media retailer that operates in the UK and US, has made its refurbished disc media available to buy on Walmart’s website. The retailer also has other refurbished technology products set to launch early this year. Walmart’s website, which is said to be one…
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