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 -5 December
Curry’s ditches Royal Mail ahead of Christmas strikes
Curry’s has ditched Royal Mail as its delivery provider amid a series of Christmas strikes at the firm. As first reported by The Telegraph and since confirmed by Curry’s CEO Alex Baldock on BBC’s Laura Kuenssberg Show, the retailer is to stop using Royal Mail to deliver its products “for…
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5 December
Morrisons owner working to replace CEO
Morrisons owner Clayton Dublier and Rice (CD&R) is working to find an eventual replacement for CEO David Potts just a year after acquiring the supermarket in a £7bn deal, according to Sky News. US-based private equity firm CD&R has retained Egon Zehnder International to help strengthen Morrisons’ executive ranks. Sky…
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5 December
John Lewis and Waitrose cut heating and lighting to tackle bills
John Lewis and Waitrose are set to reduce their energy consumption this winter, with the department store cutting its heating and the supermarket dimming its lights in a bid to control high energy costs, The Guardian has reported. It comes as the John Lewis Partnership, which includes Waitrose, reportedly said…
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5 December
CBI downgrades growth forecast to -0.4% amid ‘lacklustre outlook’
CBI has downgraded its GDP growth outlook significantly, to -0.4% in 2023 (from 1.0% in its last forecast), after a “turbulent year both politically and economically”. It said the reason behind the latest change is that the economy is likely to have fallen into a recession in Q3 2022, and…
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5 December
Jaeger MD to depart
M&S-owned fashion company Jaeger has announced that its managing director Fiona Lambert is departing the business after almost two years at the brand. The news comes as Lambert oversaw Jaeger’s relaunch and come-back after it was bought out of administration by M&S at the beginning of 2021. Prior to joining…
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2 December
Hush appoints new CEO
Women’s fashion and lifestyle brand hush has announced the appointment of Sarah Miles as CEO, effective 16 January 2023. Miles joins from Sephora, having previously been CEO of Feelunique, the beauty e-commerce platform. She led the team that grew revenues to more than £100m prior to its sale to Sephora…
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2 December
Next partners with Tom Joule to acquire Joules
Joules has confirmed that its founder Tom Joule has partnered with Next Plc to acquire the majority of assets of Joules via a newly formed company out of administration for a total cash consideration of £34m. In addition, Next has acquired the current Joules Head Office for £7m cash. Next…
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2 December
Frasers Group acquires Amara
Frasers Group CEO Michael Murray has confirmed that the group has acquired Amara, a luxury homewares brand, as it looks to “build on its ambition” of creating a “credible homeware destination” for Flannels. In a statement on Linkedin, Murray said: “I am pleased to announce, we have acquired Amara.com, a…
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2 December
John Lewis confirms £500m rental home venture
The John Lewis Partnership has agreed a £500m joint venture with global investment company abrdn to deliver around 1,000 new homes across three local communities. In Bromley and West Ealing in Greater London, subject to planning permission, Waitrose shops will be redeveloped to provide new homes and improved stores. In…
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2 December
Asos interim CFO to step down
Asos has announced that the interim chief financial officer, Katy Mecklenburgh, will step down from her role at the company for the CFO position at Softcat plc. It is reported that Mecklenburgh will continue in her current role at Asos for the next six months, which is the agreed terms…
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