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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Nov- 2022 -24 November
Dr Martens profits fall 5% after growth investment
Dr Martens has recorded a 5% fall in pre-tax profits to £57.9m during the six months to September 30, while EBITDA was flat year on year at £88.8m. The business sold 6.3m pairs of boots, shoes, and sandals, up 400,000 on an underlying basis compared with the same period of…
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24 November
H&M reopens Regent Street flagship following refurb
H&M have reopened its flagship Regent Street store today (24 November), following a refurbishment and additions to the site’s offerings. It is reported that the site now has a “world leading” interior look and feel, as well as new circular and customer services, which includes the fashion retailer’s new clothes…
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23 November
Dreams provides £5m cost of living support package for staff
Bed retailer Dreams has announced that it is providing support for its staff during the cost of living crisis, starting with a £5m package as part of its “people first strategy”. The company plans to advance a pay raise that was due in April 2023 to December 2022. The pay…
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23 November
Banana Republic to be sold by Next
Gap has announced that it has reached an agreement with Next to extend its joint venture and sell its Banana Republic and Athleta brands in the UK and Republic of Ireland through the retailer. Banana Republic, a global apparel and accessories brand for attainable luxury and heritage classics, will launch…
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23 November
M&S tops YouGov’s best UK brand poll
M&S has been ranked as the UK’s best brand in YouGov’s annual Global Best Brand Rankings. The rankings are based on the index score from the YouGov Brand Index, which is a comprehensive measure of overall brand health calculated by taking the average of impression, quality, value, satisfaction, recommend, and…
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23 November
The Fragrance Shop appoints Peter Cowgill as first NE chairman
The Fragrance Shop has announced former JD sports boss Peter Cowgill as its first ever non-executive chairman. Cowgill suddenly quit his role at JD in May and will take up this new role with immediate effect. He will work closely with CEO Sanjay Vadera and his leadership team. The appointment…
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23 November
Halfords H1 profits fall to £29m amid ‘softening’ trade
Halfords has reported that underlying profit before tax fell by 49.9% to £29m in the first half of the year, down from £57.9m the prior year, despite a “resilient” performance in the period. The group also downgraded its full-year guidance after a “softening” of trading in discretionary areas of spend,…
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23 November
Joules makes senior director redundancies following administration
Joules has reportedly made a series of redundancies across its senior positions, a week after the announcement that the group had fallen into administration. According to Retail Week, the retailer‘s channels director Rimal Patel and brand and creative director Chloe Ward have both left the business, while CFO officer Caroline…
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23 November
Pets at Home H1 profits dented by rising freight and energy costs
Pets at Home has seen underlying profit before tax fall by 9.3% to £59.2m in the first half of the year, largely driven by increased freight and energy costs over the period. According to the group, profits were also hit by a year-on-year increase in investment in digital assets, which…
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22 November
Watches of Switzerland expands Canary Wharf showroom
Watches of Switzerland has unveiled its newly refurbished Canary Wharf showroom, having added the unit next door, more than doubling its size. The new showroom adds to the group’s portfolio within the shopping centre after the recent openings of both Omega and Breitling mono-brand boutiques. The refurbished showroom has a…
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