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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Dec- 2022 -13 December
Sosander sees 72% increase in FY23 H1
Sosander has announced net revenues of £21m in H1 FY23 ended 30 September, a 72% increase against the same period in the prior year (£12.2m). The growth was split equitably between own site and third party partners. It also reported its gross margin at 54.4% (H1 FY22: 56.5%) signifying a…
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13 December
Pepco to accelerate expansion plans as revenues hit €4.8bn
Poundland owner Pepco has announced that it will accelerate its expansion plans after it posted revenues of €4.8bn (£4bn) for the year ended 30 September 2022. The discount retailer stated that it planned to have a greater focus on new stores in Western Europe and a refit programme in Central…
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13 December
Silverwood Brands acquires stake in Lush Cosmetics for £216.8m
Silverwood Brands has acquired a 19.8% stake in Lush Cosmetics, the prominent manufacturer and seller of handmade skincare goods and cosmetic products, in a £216.8m deal. The conclusion to this transaction comes as VSA Capital Group has been involved in advising the directors of Lush, Andrew Gerrie and Alison Hawksley,…
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12 December
Superdry boss eyes potential buyout
The founder and current CEO of Superdry, Julian Dunkerton, has reportedly held talks with private equity firms over a potential buyout, according to reports from the Sunday Times. Talks are believed to have taken place this year which would see Dunkerton roll his 23.9% stake in the company into a…
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12 December
UK economy returns to growth in October
The UK economy returned to growth in October following the period of national mourning after the death of the Queen, according to the latest figures from the Office for National Statistics (ONS). UK GDP is estimated to have grown by 0.5% in October 2022, following a fall of 0.6% in…
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12 December
4 in 5 shoppers using social media to find Christmas gift ideas
The inaugural Shop Social study, conducted by social media experts Maybe*, (https://www.maybetech.com/) has found that the products we are most using social media to find inspiration for are women’s clothes (54%); men’s clothes (37%); gifts (35%); beauty and cosmetics (34%); children’s clothes and products (31%); books (26%); toys (23% )…
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12 December
Monsoon sales rise 43% in FY22
Monsoon saw its sales rise 43% to £258m and a strong gross margin performance of 5.3% that helped double the group’s EBITDA to £24.4m, a rise of 132%, for the financial year ended 31 August 2022. The fashion retailer’s results come as its like-for-like sales grew 105%, thanks in part…
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12 December
M&Co appoints administrators
M&Co has fallen into administration after struggling with rising input costs as well as lower consumer confidence in recent months. Adele MacLeod, Gavin George Scott Park and Robert James Harding of Teneo Financial Advisory Limited were appointed joint administrators on 9 December, a statement on the retailer’s website confirmed. According…
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12 December
Tesco begins search for independent chairman replacement
Tesco has reportedly begun proceedings to find a replacement for its independent chairman, John Allan, who will step down in 2024, according to Sky News. Under UK corporate governance rules, Allan will be ‘timed out’ in just over a year, meaning he would no longer be regarded as an independent…
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9 December
Primark to open 10 stores before Christmas
Primark’s parent company Associated British Foods (ABF) has announced that it is set to open 10 new stores before Christmas. As part of its trading update ahead of its AGM, ABF stated that Primark’s trading had been “encouraging” with the retailer set to open 27 new stores in the current…
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